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Why Every Entrepreneur Needs An Exit Plan

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When an entrepreneur starts a business, it makes sense for them to consider what the long-term strategy is for the idea. If there is no way to create an exit strategy, it might not be the right business choice (depending on your life goals).

Let’s look at reasons every entrepreneur needs an exit strategy and the different types of exit strategy.

People Get Burned Out

If your business is run only by you, and you’re the only face of your business, it can cause serious problems with burnout. Forming an idea in your mind and putting it down on paper about how you’ll exit the business and approximately when, can help you avoid burnout because you know what the options are.

You May Want to Retire Some Day

Lots of entrepreneurs, especially individual freelancers and service providers, have the idea that they’ll simply work forever. The problem with that is that you’re probably vastly underestimating how you’re going to feel in a few years. If you’re 30 today, you have no idea how you’re going to feel at 50 or 60. If you plan for an exit, it doesn’t mean you have to stop, but it’s good to have a plan in case you ever do want to retire.

Helps Create Better Decisions

When you have your business planned out from start to finish, you’ll have an easier time making business decisions that work. If you are open to retiring and someone offers you money for your business, you may be more likely to take up the offer.

Enhances the Value of Your Business

Creating a business that can exist with or without you naturally ups its value. The reason is that it can essentially live forever if it’s adopting and changing based on the market rather than on the people working there.

To Make More Money Faster

If you’re open to selling and you build your business to the top of the earning curve, selling it at that point can be a real winning move. When you break it down mathematically, every business looks like a bell curve with a top-earning moment that can last for years and years – but probably won’t last forever. Selling at the top of the bell curve will garner you more money with less work than keeping it until it goes down.

Types of Exit Strategies

There are several existing strategies that you may want to investigate as you’re building your business, so that you can plan on doing what is most realistic for your type of business. Some options include an initial public offering (IPO), liquidation, mergers, acquisitions, selling and more. What will work for you depends on the type of business, the lifetime potential of the business, and more.

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Source by Jon Allo

Views: 0

July 23, 2022
Habits – The Big Secret to Marketing Success

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What do you think you need more than anything else to attract more of your ideal clients?

Many people will say, "better information to show me how to do what works."

Others will say, "more motivation and drive to implement what I already know."

Another common answer is , "more time to fit marketing activities into my schedule."

And lots of people will say, "I need better goals and more clarity about what I want to achieve."

In writing this ezine / blog for the past 20 years I've talked about the importance of all of those.

But I'm finally understanding a factor that is much more important: good habits.

Over the past year, I've been a big advocate of the writings of James Clear. He writes a blog about success and habits. And he just came out with his first book, Atomic Habits, which is fantastic.

Even though James isn't a marketing expert, I'm convinced he's right when he says that the ultimate determinant of success is building positive habits.

This idea is simple but true: Self-employed professionals who establish regular marketing habits have a much better chance of succeeding than those who don't.

And the crazy thing is that the four items – information, motivation, time, and goals – I mentioned above don't actually make a huge difference.

Information. These days, we have access to more information about marketing than ever before in history. And much of it is free and instantly available through a Google or YouTube search.

The problem is that most of us have not established a regular habit of studying what we need to know to become better marketers. The information is useless unless we become proficient at implementing it.

And even if we pay good money for courses and programs, much of it goes to waste. I just learned recently online that 97% of people who buy a course online never complete it.

Motivation. If we measured motivation by intention, we are all motivated. Don't we all want and need to grow our businesses? But we keep getting distracted and don't follow through on our intentions. Again, the issue is poor habits.

Time. If only we had more of it. But unsuccessful marketers have just as much of it as the most successful ones. The key is that they dedicate more time to implementing regular marketing habits.

Goals. Nothing wrong with goals except that they are only a starting point for success. And they can get us stuck in the future, instead of doing what needs to be done today – the routine marketing habits that we perform every day or week.

"A habit or system beats a goal every time." – James Clear

The research is in and the conclusion is clear.

Establishing positive and consistent marketing habits have a bigger impact on marketing success than anything else.

We may have great information, high motivation, lots of time, and clear goals, but unless marketing activities are performed regularly and habitually, the chances of success are slim to none.

The question you should be asking is, "How do I start establishing better marketing habits?"

James's Atomic Habits goes to great lengths to share a multitude of ways to become an expert habit practitioner. So I highly suggest you get his book. It could be the most valuable 'marketing' book you'll ever read.

But let me also give you my perspective on what it takes to establish new marketing habits.

The C – SPAT Model

This is a model I came up with for one of my marketing programs.

Coaching or Context. A coach declares the game, how it is played and how to win at it. And this creates the context in which you play the game. It helps if you have an outside source that can hold you accountable to play by the rules necessary to succeed.

This principle is why when you're working with a coach or in a program that you suddenly find it's easier to take action and form positive habits. The context of the game helps shape your behaviors.

Notice that all professionals such as doctors, lawyers, and accountants go through rigorous training in the form of a professional school and internship. And in this context, professional habits and protocols are established.

As independent professionals, we'd all prefer to do things on our own, charting our own direction. That's nice, except that it doesn't always work very well, does it?

Study. A big part of the game is study and learning the body of knowledge necessary to perform effectively. Again, the information required to be an effective marketer is readily available, but you need some assistance in sorting the wheat from the chaff and studying what is most useful.

Planning. All successful marketing needs a plan. The alternative is implementing random marketing activities with little structure and direction. So it's not how much you know, but how you put what you know into action.

Action. Success doesn't come from being busy or doing a lot of things, but in doing the right things at the right time. This is where establishing regular marketing habits comes in.

To some, it might be writing an article once or twice a week. For others, it may mean setting up more meetings with networking contacts. Or it could be booking regular speaking engagements.

The secret to making this work is to leverage the first three steps of the model – Coaching, Study, and Planning, into marketing Actions that you perform as consistently as possible.

Tracking. What gets measured gets done. And when we fail to measure, habits don't tend to stick. When we measure and track habits, the chances increase dramatically that they are performed consistently.

It can take some time to establish positive habits. You know that's happened when you don't even have to think about it anymore; you just sit down and write that article every Monday or make five calls to prospects every week.

And when you're in action like this, you create a feedback loop, learning what works the best and what doesn't. This enables you to fine-tune and adjust over time until your marketing habits become more established.

So, stop putting so much attention on searching for the "perfect" marketing strategy, getting motivated, finding more time, and setting goals.

Instead, use the C – SPAT approach to establishing positive marketing habits.

Cheers, Robert

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Source by Robert Middleton

Views: 0

July 23, 2022
Building a Multi Level Marketing Business

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A multi level marketing business is only successful if the business owner can strike a balance between selling the product or service and building a sales group or downline. Be particular about how you present yourself and your business. A professional image will bring you success faster than a sloppy appearance.

Sales

To make money with a multi level market business you need to sell products or services. Some multi level marketing businesses use a home party model. Others use seminars and internet sales. The best way to be successful is to find a business model that suits your personality.

While giving your sales presentation, drop hints that you are looking for people to do exactly what you are doing. The key is to be friendly and look successful. What you say is just as important as how you say it. For example; a very successful person who sold educational books through a home party plan would tell people that “I am looking for people who want to help promote literacy in children.” Compare the phrase “selling books” to “promoting literacy in children.” Which phrase sounds more appealing to you? Are you selling vitamins or helping people live healthier lives?

Attend seminars, watch videos and read books to become familiar with multi level marketing techniques. Books by Zig Ziglar and John Q. Maxwell contain very helpful information. Both authors have extensive knowledge about sales and building successful business relationships. Find out what others in your business are reading.

Investment

To be successful in a multi level marketing business, you will need an upfront investment of time and money. The startup cost is much greater than the initial purchase of products. If you are serious about making career income from a multi level marketing business you will need to invest in a business phone, a computer with internet access, a color printer and scanner, business letterhead, and business cards. A website is very helpful and adds legitimacy to your business.

Business clothes are another expense. You will not be successful selling in a t-shirt, jeans, and sneakers. Even when you are starting out, you need to look like you are making money. Dress according to the product you are selling. Know your target customers. If you are selling to working class individuals dress business casual. For upper-level business clients, a suit is required.

Building Contacts

Building contacts is the key to successful multi level marketing. Initially make a list of everyone you know. These are your initial sales calls. When you contact these individuals, ask them for names of people they know who might be interested in this opportunity. Networking is the key to being successful.

Successfully combining sales, image, and networking will bring you success in your multilevel marketing business adventure. The initial investment of time and money will repay you many times over once your business is up and running. Network to meet as many new people as you can as this is the fastest way to grow your business.

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Source by Ron Malezis

Views: 0

July 23, 2022
An Insight Into Multi-Level Marketing/Network Marketing Techniques

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You have reached the perfect place to discover how to be successful with Network Marketing or Multilevel marketing. Most people who embark on a new challenge struggle at first but for the Network Marketing beginner, he’s not an exception. It might seem complicated and sometimes a fearful path to pursue, nevertheless take advantage of the following Network Marketing strategies and run with it.

Success Tip 1: Manage “YOU” and “YOUR” Expectations.

You are answerable for the success or failure of your own unique network marketing business! This is usually a huge one, simply because the overwhelming majority of completely new as well as skilled network marketers pin the blame on absolutely everyone but themselves with regard to things that fail. But in fact, whatever happens to you, in business and also in your personal life is a direct result of choices you made.. You, and you alone are accountable for your business.

Manage your expectations and be accountable to yourself!

Success Tip 2: Set Goals.

We understand you need to generate income in your network marketing business, but HOW do you plan to generate such income?? It’s essential to set desired goals that may be Short, Medium or Long Term. Set S.M.A.R.T. goals for that HOW. Your S.M.A.R.T.goals ought to be

• S-pecific

• M-easurable

• A-chievable

• R-ealistic

• T-imely.

Evaluate these goals regularly and as soon as you meet them, raise the bar.

Success Tip 3: Keep Learning!

Cultivate your mind by getting informed through quality publications, CDs, network marketing business video tutorials in the first couple of months right after starting a new network marketing business. This might look like a time waster to many beginners since they’re thrilled to generate income immediately and it must be right now! It often doesn’t work like that.

When l began my network marketing business, I put away a specific percentage of my earnings to get resources regarding how to take my business one stage further. I learnt a whole lot (and still learning) on how to offer value to my clients. These are individuals who bring the cash. Begin to see the link?

Success Tip 4: Efficient Use of Your Time And Effort.

Be extremely organized particularly if you intend to continue working while starting your business. You’ll want to become a personal time management pro to offer your best to each side. Remember that you might want to allocate more time to your start-up business since your start-up business is similar to a newborn – it requires nurturing, focus, care and time.

Create time daily to work on your new business. Make use of the audio system in your car by listening to CDs or tapes if you are driving. Get a good mp3 player and plug-in some great informative content while taking a stroll or you’re at lunch or cleaning the house. The more effective time spent on your business, the quicker you’ll make it grow.

Success Tip 5: Be patient!

The journey of a 1,000 miles begins with one step. And you have started your journey. On this journey you’ll need loads of patience. In business the truth is most start-ups consider it a huge success if they can make money soon after they start business.. So, what makes you believe the income will begin rolling in after a few days, or even months? Building a solid business needs time, effort, and lots of patience.

Likewise note that you need to be prepared for the rough patches because there will be loads! When those times come, it’s not the time to pull the plug but time to remember that success is a process. Every positive step you take brings you closer to your goals. Therefore keep doing the “right” things, persevere and be patient!

Success Tip 6: Expect to get out of your comfort zone.

When a baby starts to learn to walk, he or she finds it uncomfortable at first but as soon as he gains self-confidence and steps out of the world of crawling, he or she makes his / her first step and others follow afterwards. It’s similar in the business world. You’ll be learning new and different ways of expressing yourself. You will need to meet, talk and connect with people.

No one ever made it big in network marketing by hiding behind their computer screen. You may very well feel uncomfortable trying new things that you may or may not be good at. The important thing there is TRY. Try new things.

Learn from your mistakes and celebrate success when it happens and it will happen; because you have earned it!

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Source by Nkem Bamgbose

Views: 0

July 23, 2022
Changing Your Daily Routine Can Lead To a Healthier Life Style

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Did you know people living in the United States spend over $60 billion every year, according to some estimates. This includes the consumption of diet beverages and various weight loss programs. Many seek to reduce the amount of fat on their bodies spending money joining a gym. However there are a number of things you can do to loss weight and live a healthier life without spending a lot of money. This basically involves a change in life style.The two keys to this involves a change in diet and increased physical activity.

Increasing your physical activity doesn’t require a membership in a gym. It will require changing your daily routine and a little discipline.This could start before you go to work. Many people go for a morning walk and some are in the habit going for a morning jog. Going for a morning walk is especially great if you own a dog as your fury friend needs the activity also. during the warmer months you could walk to work, assuming the distance is not to great and you live in a safe neighbourhood. If the distance is to far to walk, consider cycling. If you don’t own a bike many cycling shops offer a number of used bikes for sale at reasonable prices.

Another thing you could do is develop a simple exercise routine. This might involve sit-ups, push-up, leg lifts, deep knee bends, light weights and stretching exercises to be done at the beginning of the routine. The use of a stationary bike could also be included in the routine and would be ideal for rainy days and the winter months. This routine could be done when you get home from work, before dinner. This would be a great way to freshen up after a long hard day at work or after a long commute through frustrating city traffic.

Changing your diet can also help you loss weight and live a healthier life style. Of course there are many diet plans available and have helped many people achieve their weight loss goals. Some of these include different carb reduced diets such at ketogenic and atkins diet. Another one to consider is the vegan diet.

There a few simple things you can do help without turning to the various diet plans that have been developed over the years. Reducing the amount of certain fast food you consume would be a good start. Reduce the amount of fatty red meat you eat. A good alternative to red meat would could be fish such sole, tuna or salmon. You also could switch from white to whole grain bread. Use whole grain bread for the sandwich you make for you lunch break. Include more fruits, vegetable and berries during breakfast and lunch. Eat high fiber foods in the morning. Include sliced bananas or strawberries on top of your cereal.

Losing weight and living a healthier life doesn’t need to be complicated or expensive. But it will require some discipline and a change in your daily routine. Check the internet out for more ideas. Talk to your local health specialist or visit one the many health food stores for advice.

Best Regards

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Source by Paul Luciw

Views: 0

July 22, 2022
Money – And How to Make More of It

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I don't know many independent professionals who wouldn't like to make more money.

It seems so simple. Ultimately there are only four ways to make more money in your business:

1. Get more new clients or customers

2. Raise your rates or fees

3. Sell more services to each client

4. Get more repeat business from existing clients.

Yes, but how do you actually accomplish those three things?

For the next several weeks, I'm going to write a series of articles on how to make more money in your business.

And I'm going to do my best to give you practical, actionable ideas that work. I know they work because I've3 used them and so have many of my clients over the years.

But before I start, there's an important things to understand about money.

Money. Is. An. Emotional. Issue.

Money isn't dollar bills in our pocket or numbers in our bank account.

No, in our minds, money is about our self worth, about how we compare ourselves to others, about how we feel about ourselves, about our success, and ultimately about our survival.

I have a favorite story about money that makes this very clear.

A few years ago, I worked with a husband and wife team who were executive coaches.

Because of our work together, they started to attract more clients on a consistent basis.

However, like many independent professionals, they were undercharging for their professional services.

But when I suggested they raise their fees, they became very uncomfortable.

And when I dug in, I discovered why.

It turns out that both had been raised in relatively poor families and they continually got the message that "rich people are dishonest."

Because they believed that to be true, of course they didn't want to raise their fees. That would make them, in their minds, dishonest.

And, if they felt they were dishonest, that would be a moral failure. That wouldn't feel good. It actually felt better to make less money!

After we explored this belief in depth, they realized that it was both emotional and illogical. It clearly wasn't true that all rich people were dishonest.

Their belief started to transform to: "We offer an honest service that makes a difference to our clients and it's OK to charge what that service is really worth."

This new belief felt a lot better than the old one.

And realizing this, they finally clearly saw that the fees they then charged were virtually nothing compared to the value their clients received.

And before too long they had doubled their fees with almost no pushback from their clients.

And no angst on their part.

So, the very first thing to examine if you are not making the money you want, are your beliefs about money.

Sounds simple, but it's trickier than it seems.

Why? Because we believe what we believe to protect us from any kind of harm – even if this harm is imaginary.

My clients believed they'd become dishonest if they raised their fees. So, in their minds, not raising their fees prevented that from happening.

What shifted this belief was clearly seeing that it was essentially nonsense. They could raise their fees and still be honest people.

With this powerful insight, their belief was forever changed.

And now, as a business owner, I challenge you to question your beliefs about money. First, identify the ones that are holding you back.

Here are a few very popular ones:

Money is scarce

My clients can't pay higher fees

People will think I'm greedy

More money will lead to problems

It feels wrong to make money doing what I love

Money will corrupt me

Being wealthy will make me arrogant

I don't deserve a lot of money

Money leads to bad things

More money just means more taxes

Wanting more money is selfish and shallow

List yours here: ______________________

I don't know which of these beliefs is running you, but if you aren't making the money you want it's almost certain that one or more of these beliefs is holding you back.

What are the fears behind the beliefs?

Honestly ask if those beliefs are true and if they are serving you or limiting you.

Then ask how things might change without those beliefs.

You just might find that it's not so hard to raise your fees after all.

So, the first thing you must do to earn more money is to question your beliefs about money. Unless you do that, you're unlikely to take the practical steps that will help you earn more money.

Do this honest questioning about your money beliefs and you'll be ready to learn a number of step-by-step approaches to earning more money that I'll cover in the following weeks.

Cheers, Robert

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Source by Robert Middleton

Views: 0

July 22, 2022
"Negotiator – Embrace Right Buy-In – Cure Stupid Hidden Disasters" – Negotiation Tip of the Week

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A good negotiator knows, when you embrace the right buy-in, you cure hidden disasters before they can occur.

For almost a year, they secretly planned the rollout. They touted it as a facelift that would change the name and position of the association. Doing so would give it a fresh look and appearance for the 21st century. But when the rollout occurred, the backlash was severe. All the money, time, expenses, and efforts that went into the new face of the association went down a drain of despair. The question that buzzed throughout the association was, how could this have happened? The response was when you embrace the right buy-in, you stop hidden disasters. And this disaster was easily avoidable.

First, as a negotiator, what do you think went wrong? What buy-in do you seek when thinking about the obstacles you might face in your negotiations? To the degree you obtain the right buy-in, you have a better chance for a successful outcome. To the degree you get the right buy-in at the right time, your chances of a successful outcome increases substantially.

Problem:

Secrecy – In the opening situation, the president of that association assembled a team of prominent members – all were members of the association. Their expertise stretched across the spectrum of branding, marketing, and social media. None were members of the vanguard that had watched over the association for decades. And the omittance of that group’s input was a silent blinking red light that foretold the death of the project.

Negotiating in secret environments can be beneficial. It can prevent unwanted distractions from slowing the progress of the negotiation. It also serves to gather the buy-in of stakeholders that might torpedo the negotiation. Thus, secrecy can be a form of control – it can also be the deliverer of disaster if not used right.

Forgotten power players – The name of the association had stood for four decades. And some of the revered founding members were still active in the association. When the new name was revealed, that vanguard was the catalyst that caused the committee’s efforts, and the new name, to meet a swift death. Had the committee consulted this vanguard, the committee would have known its efforts were doomed. They could have avoided a hidden disaster.

Consideration:

Had the committee charged with creating a new name involved the vanguard of the association and brought them along during the planning stage, at minimum, the new name would have stood a greater chance of becoming implemented successfully. At worse, the committee would have known that the new name was in trouble. Losses could have been averted at an earlier point and resources could have been spared.

The challenge a negotiator faces when employing secrecy is making sure the right people are involved. If they’re not involved, hidden disasters may lie in wait.

Always take into consideration who might be involved in a negotiation even if they’re not physically or visually involved in it. Seek those individuals that might have a stake in the outcome of the negotiation no matter how small you think their stake might be. There’ll be times when you won’t know the power source behind some people’s means – that’s something else to consider. There’ll also be times when smaller stakeholders will combine forces, which will present a more powerful force for you to contend with.

Conclusion:

Getting the right buy-in is a vital component of every negotiation – even when it’s just you and the other negotiator. Doing so when you have multiple participants is even more vital to the negotiation’s success. Therefore, when you assess the impact of the buy-in component during your negotiation planning stage, consider its impact thoroughly… and everything will be right with the world.

Remember, you’re always negotiating!

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Source by Greg Williams

Views: 0

July 22, 2022
6 Reasons A Beginning Marketer Should Start With Affiliate Marketing

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In this article, I will give you 6 Reasons A Beginning Marketer Should Start With Affiliate Marketing.

If you are wanting to start an online business but you don’t know where to start, I think you should really give affiliate marketing a try. The reason I would start with this technique is that it’s by far the easiest to get started with and has just about no upfront cost at all.

So let’s take a look at 6 Reasons A Beginning Marketer Should Start With Affiliate Marketing.

1. MANY OUT THERE TO CHOOSE FROM

Just about all the companies out there have affiliate programs you can join. And not just small companies but the really BIG COMPANIES as well. Such as Walmart, Bestbuy, Amazon, JVZoo, Warrior Plus, eBay, and tons of others. All you have to do is do a Google Search with “the company name” and put affiliate program behind it like this (example. Walmart Affiliate Program)

2. FREE TO JOIN

Affiliate programs pay you to promote their products and it’s free to join them, so no upfront cost for you. Now depending on the company will depend on how much commission you will make. As an example, Walmart pays 8% commissions. And most vendors on JVZoo will pay a 50%-100% commissions depending on the vendor and product. While Amazon typically pays 4-8.5% depending on your seller rank.

3. NO PRODUCTS TO MAKE

When you do affiliate marketing you don’t have to worry about creating a product because you are simply promoting someone else’s product. This is a no-brainer and you don’t have to have any skills in creating products from scratch. All of the hard work such as building a website, create awesome graphics for a product, paying someone to write the copy for the sales page are all already done for you. All you need to do is drive people to the page.

4. NO PRODUCTS TO SHIP

When you do affiliate marketing you will never have to struggle with having to ship a product because the vendor takes care of all of this. And it doesn’t matter if it’s a digital product or a physical product. The vendor takes care of all the hard work for you. All you do is get people to have a look at their products and if they buy you get paid and they ship or deliver the digital products.

5. MANY PLACES TO PROMOTE

There are unlimited ways you can promote these affiliate products. You can use email, Facebook, YouTube, Forums (read their rules and regulations before posting), Twitter, Instagram, Pinterest, etc. Even if you are a beginner you can make some good passive income. To me, the easiest way to make affiliate sales though is to use your emails list. If you don’t have one, start building one now. Build a good relationship with your list and once they trust you and you send them affiliate promotions and they like the offer they will buy from you.

6. NO CUSTOMER SUPPORT

Another great thing is you don’t have to handle customer support. Everything is done for you.

Well, that about wraps up the 6 Reasons A Beginning Marketer Should Start With Affiliate Marketing. I hope now you can see why this is one of the easiest business to start making money online.

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Source by Ronnie Rokk Smith

Views: 0

July 22, 2022
Entrepreneurial Mind Frame

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Entrepreneurs make up only about 15% of the working population in the US. Far fewer actually succeed than those who attempt to become self employed business people and venture out on their own. So what makes people decide to take the entrepreneurial path, when so few actually make it a reality?

Is the American dream a possibility for anyone, or, does it take more than most to become a successful entrepreneur?

The success of an entrepreneur does depend on their mindset. A large percentage of business owners will quit in their first five years in business. What is needed is the fortitude and belief that goes with attaining success.

Entrepreneurs are risk takers and dreamers. The difference between the dreamer and the entrepreneur though, is that the entrepreneur takes actions based on their dreams. They persist through the hardships and never give up! Many entrepreneurs start with an idea. Their success is determined by their belief that they can create something greater than simple monetary success. Often, it is about creating something which will benefit the world.

James Dyson, for example, came up with the idea of the bagless vacuum cleaner. Despite multiple set backs, over 5000 prototypes and not being able to get any manufacturers or distributors to accept his idea, he persevered. It was over a decade after his initial idea when his concept came to fruition. Even then, it was after a lot of difficulties and hardship due to the vacuum replacement bag industry, which was worth £100 million in the UK.

In Simon Sinek’s book ‘Start With Why’, he suggests that the biggest companies in the world are so because of their “why?” – their reasons for building a business in the first place. In all cases, it wasn’t just to make money, or make technology better, or some whimsical ideology.

The Wright Brothers, for example, became known as the pioneers of the first manned flight. But their competition was much better funded and well connected – Samuel Pierpont Langley had worked at Harvard, had a number of powerful connections, including Andrew Carnegie and Alexander Graham Bell. The War Department funded his project with a $50k grant, a seemingly massive advantage to the unconnected Wright Brothers who had no money or influence. However, their passion and devotion to change the world with this new technology drove them to attain the first flight in history in 1903.

Desire for material things and monetary wealth can only carry someone so far. Unless you have a goal or passion which is bigger than that, you may lose the momentum and fail to maintain your enthusiasm for any length of time.

The entrepreneurial mindset is one which taps into your purpose. Without a purpose driven goal or aim, it can’t take long before disillusionment kicks in. With a mindset which takes into account a larger purpose, entrepreneurs can build huge businesses because they ‘saw’ a vision of what they wanted to create. If the purpose is greater than the obstacles which lie in the path of attaining it, no amount of setbacks will stop you from achieving your goal.

On the other hand, if you set out to do something and something gets in the way and stops you, your initial reason, (your “why?”), may not have been strong enough to endure all the battles along the way.

Entrepreneurial mind frame (or mindset) therefore, must be aligned with both your vision, your values and your purpose. If your values are not in alignment with your purpose and vision, you’ll come up against road blocks which will stop you from achieving your goal.

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Source by Tim Halloran

Views: 0

July 22, 2022
Why You Might Not Be Right For Affiliate Marketing

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Affiliate marketing is a business model which rewards ‘affiliates’ for the promotion of other people’s products on the internet. By sending website traffic to various products and services, affiliate marketers can earn a living from the sale of goods and services on the internet.

But not everyone is cut out for this kind of work. It involves working by yourself for quite a bit of time. There’s various technical skills you’ll need to learn such as website building, running adverts and connecting various software together to make your online business work.

Even though there’s been huge leaps in technology lately, meaning there’s less technical hassle involved, some people just won’t have the patience for this. Even if you find a community of help and support, there’s still a lot to learn and it isn’t for everyone.

Expect to work between 6 months and a year before you see any results at all, too. This is pretty tough, especially if you don’t fully believe in what you’re doing. There’s a fair amount of trial and error with affiliate marketing. Most people will give up too early and never see the fruits of their efforts.

For those who stick, there are great rewards to be earned. But they are earned. Not in the conventional way of earning money by trading your time for it, but in overcoming barriers to success. You need to have a fair amount of tenacity and patience. It’s not like a job where you get paid every month initially. So, if you’re used to trading time for money and getting paid every month, don’t give up the day job just yet!

Affiliate marketing is a business and not an employment. You need to drop any entitlement attitude which may be buried in your mind. You can’t expect any reward unless you actually have had it! If something isn’t working, you need to take stock and change your habits. It took me years before I saw any tangible results from affiliate marketing. I just refused to quit!

There are of course faster ways to benefit from affiliate marketing. Getting the right training and education from the start can make the most difference. If you’re going the wrong way, no amount of hard work will matter. I spent quite a bit of time here, being a busy fool; not knowing that what I was doing wouldn’t yield any results at all. I did many online training courses before I found the right one.

There’s a lot of mental challenges too, when it comes to making an internet business work. Some people are in a better place to face these than others. If you’ve already run a business, for example, you’ll have a better understanding of an online business. For years I thought I could just concentrate on the activities which I enjoyed. I later realised that this was what held me back. You need to learn and grow with your business; otherwise the glass ceiling of your business will always be you.

Who do you hang around with? There’s a saying that your income can be determined by the average of your 10 closest friends. Again, this can have massive implications on whether your internet business is successful or not. Who do you listen to and ask advice from? Is it business leaders who are making 6 figures? Or, more likely it is someone doing a regular job who is massively sceptical of anything different.

How do you perceive yourself? Self image has a lot to do with success too, whatever area of life you want to be successful in.

Affiliate marketing is a great business model. But not everyone will see this. If your circle of influence is sceptical of it, chances are this will rub off. It’s very difficult building a business if part of your mind doesn’t believe in it, or in yourself.

Then there’s the obvious monetary barriers to entry. When I started looking at affiliate marketing I was in a lot of financial trouble. I had a very deeply ingrained poverty consciousness, and real financial hardship. So a lot of affiliate business courses and software were out of reach for me. I started with the cheaper ones and as a result made slow progress. I wasn’t able to use paid marketing strategies, so I had to use content marketing. This takes a long time and results are never guaranteed.

If you’re trying to build a business and simultaneously fighting with a massive poverty consciousness and are terrified about spending even a tiny portion of what you have, I wouldn’t recommend affiliate marketing.

There’s a saying in the trading world “Scared money is lost money”. The same can be said of affiliate marketing. If you’re using money for your business which you’re terrified of losing, you’re much more likely to lose it.

On the other hand, if you can afford to spend some money each month on your business, and grow it slowly, your chances of success are far greater. Starting with an income already is really a necessity with an online business. It’s hard building stability in a business on shifting sand.

When I started affiliate marketing, I didn’t have regular work. As a result, I concentrated on the activities which were free to do. This is a very slow tactic. Although I eventually made progress, it was much slower than the affiliates who use paid marketing and start in employment. It’s not impossible, but very slow.

Saying that, I also think that if you’ve got time, and little money, then affiliate marketing is a good thing to focus on. You just need to find strategies which match your own specific situation and circumstance.

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Source by Tim Halloran

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July 22, 2022