|
|
| www.1001TopWords.com |
|
|
Is Now the Right Time to Become An Entrepreneur?
A number of economic changes are magnifying the role of small business and creating the impetus for entrepreneurship. In the past, many people perceived small business owners as shopkeepers ? the mom 'n pop shops. Today, with a status boost, they're entrepreneurs, and perceived to be on the leading edge. But is now the right time to step up to the plate and take a swing at starting a small business? In the audio book, "Sound Advice on Small Business," author Jim Schell points to a number of economic changes creating momentum for entrepreneurs. Continued downsizing in the Fortune 500 sector is one change, as corporate CEOs strive to keep earnings up to stock market expectations. "The corporate rat race has become more stressful to its inhabitants, and more tenuous," says Schell. "Today's Enrons and Worldcoms haven't done the image of the big guys any good, either." Job creation is another economic change. "Corporate and government downsizing, combined with an influx of trained and motivated entrepreneurs is resulting in the vast majority of today's new jobs being created by the small business sector," says Schell. He also points to changes in technology. "Today's technology is allowing little companies to do big things. Small businesses are now able to compete in industries that were once only open to the big guys." With these and other economic changes sweeping the country, Schell believes now is the right time to become an entrepreneur. "My advice: Go to where the action is ? make a beeline for small business." Jim Schell offers advice to entrepreneurs on managing a small business each week in the free audio newsletter from What's Working in Biz, http://www.whatsworking.biz/full_story.asp?ArtID=92 About The Author Richard Cunningham is a principal of What's Working in Biz, http://www.whatsworking.biz, a publisher of business audiobooks and online audio programs on marketing, sales, and small business strategies.
|
|
|
|
RELATED ARTICLES
Entrepreneurs: Benefits vs. Features-Know the Difference! Entrepreneurs know their business. They know their product, their service. Many of them write creative Web sites. But, one thing they are not as adept at is promotional copy. Starting Up and Keeping Going So you had that fantastic business idea, the one that'sgoing to be wildly successful and make you a fortune - andeven better, you actually did something about it and startedyour own business. Good for you! Not everyone gets eventhat far. Most people sit and day dream about what theymight do if only .... The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money This year more than 17 million people will become entrepreneurs, according to the National Association of Self Employed (NASE). By the end of the year, 8 million of them will return to the corporate world because their entrepreneurial effort did not succeed. Many will say the businesses failed because of insufficient capitalization. Actually under-capitalization is not the cause of failure, but a symptom of a far more serious problem. What is Entrepreneurship? In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us. For Business SUCCESS... Listen To The Voices of Experience Discover the pitfalls of owning your own business BEFORE... [you make a BAD choice!] Bring That Difference To Your Business! Romans had a phrase for this- First among Equals. Business Planning for College Students and First-Time Entrepreneurs More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working for another firm. Likewise, more and more individuals are leaving their jobs to fulfill their entrepreneurial dreams. What Makes a Person an Entrepreneur? Entrepreneurship is generally characterized by some type of innovation, a significant investment, and a strategy that values expansion. The entrepreneur is often quite different in mindset from a manager, who is generally charged with using existing resources to make an existing business run well. The roles of entrepreneur and manager are not necessarily incompatible, but entrepreneurs are seldom patient enough to be good managers. Does It Really Take Money To Make Money (Online or Offline)? A Reality-Check of 2 Case Studies The short and simple answer to this question is NO! Work vs Play: Which is the Better Way to Make Big Money? If you want to make big money, you have to play not to work. 10 Essential Tips for Starting Entrepreneurs - Ignore these at your Peril! 1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or your best friend) thinks you'd be well-suited for this business, you may as well pack up now and save yourself some time and money. If you don't love what you do, it will show...potential customers will know it and will go elsewhere. Is it possible to be successful anyway? Sure -- but it won't be easy and it won't be fun...and isn't that why you want to be in business for yourself anyway? New Rules Last week I was working with one of my small business clients, a bright and dynamic woman who's passionate about positioning her artisan business for growth. We were talking about her financial picture and forecasting robust sales over the next three years. Achievements Outweigh Education and Experience Q: When it comes to succeeding in business, which do you think is more important: education or experience?-- Regina M. Use Your Youth To Your Advantage You should wait until you're older and have more business and real-world experience before starting a business. You should just focus on school for now. Nobody will take you seriously at this age. Independent Auto Detail Shop VS Biz Op or Franchise Owning a detail shop can be an exciting and rewarding business indeed. Many times an owner of an independent Detailing Shop will wish to add those items he/she believes their customers want. Since an independent detail shop is not a franchise or affiliate they can try new things and do what ever they want. They use their knowledge of the industry, a little intuition and luck; it is a best guess issue. For an independent detailing shop entrepreneur; there is no proven business plan to go by, but the savvy operator who is in touch with their customers seldom has to face a shot in the dark. From Employee to Entrepreneur: Taking the Plunge Before you decide whether or not running your own business is right for you, start by pinpointing your area of expertise and assessing your aptitude for business. 7 Small Business and Self Employed Law of Attraction Principles For Success It is widely held that one of the most important ingredients in small business success is perseverance. Deciding on a strategy and sticking with it. I would agree but you need to be clear that the strategy is in alignment with your passion in business and your natural action and communication styles. It's also helpful to have effective strategies to follow through on what you set as your priorities, goals, plans, calls to action... and other components of your daily business activities. These principals will give you ideas to be effective when working on your business; so you can be persistent, passionate and productive in your small business. Entrepreneurial Ongoing Education Advice I would like to give some advice to all the up and coming entrepreneurs; if you really want to be a superstar not only do you have to work harder and smarter than the competition, but you must always keep learning. I built a company from a bucket of water and a sponge into a National Car Wash Franchise System in 23 states. To do this you need to know more than what they taught you in school and you can never turn off your brain. Every person is different and has different interests. But I would like you to read thru my recommended reading list. This is a list I hand out to MBA and Entrepreneurial Students when I give speeches. It is a list of recommended book, biography, audio tapes and movies. Identifying the Right Venture Capital Firm Partner Venture capital firms are comprised of individual partners. These partners make investment decisions and typically take a seat on each portfolio company's Board. Partners tend to invest in what they know, so finding a partner that has past work experience in your industry is very helpful. This relevant experience allows them to more fully understand your venture's value proposition and gives them confidence that they can add value, thus encouraging them to invest. Innovation incubator: Build it and keep it running If your company is like the one I work for, your people are talking about the need for innovation. Mine has just announced a new program "that will bring a standardized approach to gathering and evaluating your ideas for generating new revenue and improving our business." An Innovation Team has just formed, with a new electronic mailbox and a contest offering cash prizes for the year's best ideas.
|
| © Athifea Distribution LLC - 2013 |