There are lots of risks involved in being an entrepreneur. Things were not any different for me when I decided to start my own event management company. My good communication, networking, and interpersonal skills allowed me to gain clients within the first few months of setting up business.
Posts Tagged ‘entrepreneur’
How to Grow Your Small Business in Any Economy, Part 2
August 4th, 2010 |
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Worried about growing your business during the recession? You don’t have to be. Make a few smart tweaks and your business will do more than just survive.
The media attention placed on the recession could make almost anyone doubt a decision to enter the world of small-business ownership. But the fact is, if you focus your attention on the right things, your business can actually grow, even in challenging economic times.
In “How to Grow Your Small Business in Any Economy, Part 1,” I focused on the mindset piece — getting your head in the right place for success. This week, I turn to more “nuts and bolts” subject matter to show you how you can increase your business stability and get your business growing.
Smart Strategies for Small Business
Leverage all the profit centers in your business:
Your business — every business — has hidden profit centers. You’ve probably got former clients who can be reactivated, points of impact where you can improve, processes that can be optimized, advertising that can be improved, passive streams of income that are literally waiting to be discovered. Leverage those profit centers and you could see an increase in profit that’s virtually unlimited!
Protect Yourself:
A lot of small-business owners skip crucial elements to business success. I can’t tell you how many clients have come to me, a few years into their businesses, without having set up their companies with the Secretary of State, the IRS, or having met with an attorney to help them set up their operating agreements. These are things that could get you in a lot of trouble if you don’t do them the right way.
Don’t Miss Critical Elements:
There are other steps that won’t necessarily get you into legal trouble, but may cause headaches. Branding is an excellent example of one of the most missed steps in small business and can make or break your company. And, if you’re marketing to the wrong crowd, you’ll waste time and money. Get it right from the start, and you’ll achieve success faster.
Do Your Research:
Market research can save you a lot of time and heartache. Before you head into any business startup, you want to know your target market inside out. The questions you want to answer are:
- Who is my target market?
- What keeps them up at night?
- What can I deliver that solves their problems?
- If I deliver what they want, will they buy it?
Leverage Low-Cost, High-Impact Marketing Methods:
A lot of new entrepreneurs develop complicated, expensive marketing campaigns without knowing what will really bring the biggest bang for their buck. There are countless inexpensive, high-impact marketing methods, and with the power of the Internet literally at our fingertips, it’s easier now than ever to build awareness for your brand.
Plus, you really want to focus only on the strategies that will bring in the most business, and optimize them as much as possible to increase their effectiveness.
Grow the Right Way:
Adopt a “leap-frogging” approach to growing your business. Start your business using a low-risk business model and build from there, using the income to fund expansion and growth. This approach almost always allows my clients to start their own businesses without seeking any type of funding from lending institutions, venture capitalists or other investors.
Get the Right Help:
Whatever stage you’re in with your business, choose to work with professionals who bring value to your business. The ideal business consultant is someone who understands different business models and can help you figure out the model that suits you best, help you uncover all the potential profit centers in your business, and show you how to increase your overall profitability. Work one-on-one with them to develop a sound business model and a strong brand with a viable, long-term marketing strategy and ask them to connect you to other professionals you need.
Susan Baroncini-Moe is the CEO of Business in Blue Jeans and the person that small biz owners call when they’re ready for hands-on help creating a meaningful business that creates more freedom and flexibility in their lives. Learn more at BusinessInBlueJeans.com. Other links: The Experts Series and Susan’s No Suits Allowed! E-zine.
How to Grow Your Small Business in Any Economy, Part 1
July 28th, 2010 |
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Think your small business can’t grow in this economy? You’re wrong. Improving your mindset and minimizing your risk are possible in all economies.
If you pay attention to the media and get sucked into an “economic panic,” you might think that trying to grow a business in today’s economy is a crazy notion. But many of the companies you know and trust were started in economic conditions much like the ones we’re experiencing today. Disney, Johnson & Johnson and Microsoft were all started during recessions. The economic conditions in which they were started didn’t doom them to failure.
But let’s face it: Small business is multi-faceted and as such, requires a multi-faceted approach. What you’re thinking and how you’re thinking have as much of an impact on the level of your success as anything else, especially for the small business owner.
That’s why this week I’m focusing on getting your head in the right place for small business success. Next week, I’ll move on to logistics and strategies for minimizing risk and growing your business.
Let’s start off with a conversation about where most small business owners start getting into trouble. It all starts at home, right in the brain, especially in an economy like this.
Lack-Based Thinking
Lack-based thinking is when you think things like: “I can’t afford….” “I don’t know how I’m going to pay for….” It’s all about fear, uncertainty and self-doubt.
Lack-based thinking constantly hammers away at the mindset you need to succeed. You won’t have the drive to succeed or put your dollars in the right places if you have “I can’t afford it” floating around in your head. Focus on making a shift so you can start putting your mind and your money where they can bring you back the most return.
Strategies to Make the Shift
Develop and Use Affirmations:
The first thing that you can do to start making the shift out of lack-based thinking is to use affirmations. This is just good psychology: in essence, you’re re-training your brain. To get started, make a list of affirmations or declarations and say them aloud every day, at least three times a day, for 30 days. If you miss a day, start over at Day 1. It’s absolutely imperative that you do this continuously, without a break, for 30 days. Research shows that’s how long it takes your brain to retrain itself, so if you do something for two weeks, miss a day, and then start up again, even if you do it for another two weeks, your brain won’t be retrained. It has to be 30 consecutive days, without missing a day.
The best way to get into this habit is to decide on Day 1 that you are fully, 100 percent committed to taking this action. Don’t accept any excuses from yourself.
Focus on the Larger Purpose:
Maybe you started a business so you could travel the world or just so you could relax, knowing you have money invested for a long and enjoyable retirement. Create tangible reminders of the reason you started down this path: a vision board, a picture, or a bold statement posted in your workspace. Reaffirm what you’re working toward and you’ll find a continuously renewed will to keep going.
Track Your Successes:
Stay focused on the positive by keeping track of your successes, even the small ones. Make a list and review them every morning and evening. This focuses your attention on what you’re doing right and keeps you concentrated on moving in a positive direction.
Once you get your brain engaged for success, you’ll be in a much better position to take action and achieve your goals and dreams.
Susan Baroncini-Moe is the CEO of Business in Blue Jeans and the person that small biz owners call when they’re ready for hands-on help creating a meaningful business that creates more freedom and flexibility in their lives. Learn more at BusinessInBlueJeans.com. Other links: The Experts Series and Susan’s No Suits Allowed! E-zine.
Man commits suicide in mayor’s office
June 30th, 2010 |
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An entrepreneur has shot himself in the stomach in the office of the mayor of Vršac, a town in northeastern Serbia.
The incident happened on Tuesday morning.
Entrepreneur Heroes Trading Cards
June 1st, 2010 |
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This week in the mail I received a package with some cool contents –
These are Entrepreneur Heroes trading cards, created by Evan Carmichael, an entrepreneur from my other home, Toronto Canada.
When I was a teenager, for a couple of years collecting basketball cards became a huge craze in Australia. I wasn’t into basketball [...]
Collaboration Software for Small Business Entrepreneur Posted By : John Nash
May 8th, 2010 |
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Collaboration software is tool that associates various aspects of work on a single project by multiple users from separated workstations and different time intervals
Collaboration Software for Small Business Entrepreneur Posted By : John Nash
May 8th, 2010 |
No Comments
Collaboration software is tool that associates various aspects of work on a single project by multiple users from separated workstations and different time intervals
How To Get An Editorial In The Newspaper
April 30th, 2010 |
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Have you ever wondered about how to get an editorial in the newspaper for your business? Getting an editorial in your favor is quite tricky because rarely are they ever promotional.
How Can I Get My Small Business On CNN?
April 22nd, 2010 |
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Have you ever watched a CNN or Fox News Channel report on a small business or entrepreneur talking about his or her company? Readers ask all the time how can I get my small business on CNN? If you’re a regular reader of this blog you know there are all kinds of ways to get this kind of publicity.
Former MySQL CEO Takes Charge at Cloud Builder Eucalyptus
April 5th, 2010 |
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Marten Mickos, who has been working as an entrepreneur in residence at a Silicon Valley VC group for the last couple of years, was a key figure in guiding the open-source MySQL database into worldwide significance as an enterprise data center mainstay.
– Former MySQL CEO Marten Mickos told eWEEK April 5 that he has joined cloud software maker Eucalyptus Systems as its new CEO.
Mickos, who has been working as an quot;entrepreneur in residence quot; at a Silicon Valley VC group for the last couple of years, was a key figure in guiding the open-sou…
How To Use Photos In Small Business PR
April 5th, 2010 |
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Are you an entrepreneur looking for new ways to use photos in small business PR efforts? Check out this list of useful tips that explain how to use photos, images and illustrations to obtain publicity for your small business.
How To Get On A Talk Radio Show
April 1st, 2010 |
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Does your small business have something to add to an issue currently being discussed in the news? How about going on a talk radio show to get your message out. There are a lot of great radio talk shows on the air that are constantly looking for guests on a variety of topics, yes, even political shows.
IBM Launches Global Entrepreneur Initiative
April 1st, 2010 |
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IBM extends its knowledge and tech expertise to startups around the world, offering access to IBM technology professionals and services in a cloud computing environment.
– Technology giant IBM March 31 announced
an initiative to open its resources to startup companies in an effort to quot;help
this next generation of entrepreneurs capture emerging business opportunities
in fast-growing industries such as energy and utilities, health care, telecommunications
and g…
How To Design A Small Business Promotional Flyer
March 31st, 2010 |
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Next time you design a small business promotional flyer for your company use these guidelines to help in your promotional efforts. Restaurants, retailers, dentists and many other small businesses can take advantage of promotional flyers since they’re a great way to get the attention of your target audience.
How To Write A Small Business Press Release Subject Line
March 26th, 2010 |
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Today it’s all about the subject line. After all, what’s so great about having a beautiful store if no one ever goes inside? The same can be said about a press release. You may have the most compelling, well-written small business press release. But if the subject line doesn’t capture their attention immediately and make them open the release, all that work is sitting on the curb. You can refer to the PR Toolkit for small business to find examples of other bad press releases.