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Archive for the ‘Entrepreneurship’ Category

The Importance Of Planning For Success…

24 Jun.
Posted by rebeccakepple in Growth Topics | Comments Off

Spring is finally on it’s way and it’s reminded me of the importance of planning for success…

Last year I got out in the garden and did a complete overhaul. I watched several of those garden DIY shows, drew myself a little plan and then followed it.

I took quite a bit of time creating my plan and it included year round plants as well as seasonal flowers so that the garden would be enjoyable all throughout the year.

It was hard work but really great fun! Our garden had been a little neglected over the years so out came all the old weeds and out came the big dead tree. We then carefully tended to the remaining healthy plants and implemented our garden makeover. A lovely little water feature went in along with quite few plants and a dozen or so bulbs.

Quite a bit of work later and it was done.

Now months later I’d completely forgotten we even planted bulbs but sure enough a few tulips started poking their heads above ground a little while ago and now they are in full bloom. That lovely splash of colour reminded me strongly of the importance of forward planning.

The successful entrepreneurs of the world didn’t get there by accident. They planned to get where they are. Some of them have had a bit of good luck along the way but all of them dared to dream of success and then put steps into action to get there. If they hadn’t followed their dreams up with planning and action they wouldn’t have got where they are. Simple as that.

If you want to reach your goal turnover or your magic number of regular clients, you need to follow their lead. Decide clearly what it is you want then go for it.

Make a plan of how you are going to get there. Where is the extra income going to come from? Exactly how many new clients do you need per week? And where are you going to find these people?

Then go out and follow your plan. The plan might change or evolve as time goes on but just get started and then follow your plan with determination.

Tulips don’t just magically appear, you need to plant the bulbs that create them and you need to make sure you do that in the right type of soil.

The same goes with clients. Sure some of them will just rock up on your doorstep but they are few and far between. To get a large and loyal client base that regularly book and buy from you, you need to learn what works then create plans that will make this happen.

If you just sit and wait for a horde of people to arrive at your door, you might be waiting a while. But if you get out there, give your potential clients a reason to want to find out more and then spend the time build a relationship with them, you will find your business growing quickly in exactly the direction you want it to.

Rebecca Kepple specializes in helping business owners massively increase their client base and profits. To get instant access to her free insider secrets report ‘The Top 7 Secrets for Massively Increasing Your Client Base’ visit: http://www.wellbeingbusinesssecrets.com/freereport.

The Fear Factor in Russian Business Startups

23 Jun.
Posted by bsl1964 in Entrepreneurship | Comments Off

“Your school may have done away with winners and losers, but life has not. In some schools they have abolished failing grades; they’ll give you as many times as you want to get the right answer. This doesn’t bear the slightest resemblance to ANYTHING in real life.” – Bill Gates

In communist or even socialist governments there tends to be lackluster entrepreneurial efforts. The individual wishing to start the business often finds little in the way of “vested interest” in committing their time and talent to something they will never really be able to benefit from.

After the collapse of Russia a new way of thinking was needed to move the country forward. The choice was capitalism and the flint of entrepreneurialism was struck often in an effort to jump-start the economy.

There is a push in Russia to advance the cause of the entrepreneur by providing classes that assist the population in learning how to develop their own business. Reports indicate that other European Universities will see as many as 70% of their higher education centers providing classes on business development.

The idea of being able to create opportunities is leading many Russian citizens to attempt to forge a better life through the mechanism of capitalism by tapping into consumer demand. The end goal is to develop a business that can provide a personal financial boon.

Ironically it is fear in some cases that has promoted the entrepreneurial spirit in Russia. More than simply an interest in fulfilling a dream, these entrepreneurs are fearful they may have very little opportunity unless they discover it on their own. It is the fear of failure that may be the driving force for some of these men and women.

Conversely, in many existing capitalistic cultures it is aspiration that provides the means of motivation. There may be less fear of failure while ambition provides the fuel to reach higher and further to maximize certain goals.

It is interesting that while the goals are separate and distinct, the end result can be similar; the development of a successful business that hinges on a dream.

As Russian Universities continue to offer and develop practical programs for their students, the world is likely to see success in Russian startups.

While some of the entrepreneurial programs have a western tie it is likely the end result will still be uniquely Russian in design and execution adding yet another colorful thread to the tapestry of a global economy.

Scott Lindsay is a web developer and entrepreneur. Make your own website in just 5 minutes with HighPowerSites at: http://www.highpowersites.com or Build A Website at: http://www.buildagreatsite.com. Start your own ebook business with BooksWealth at: http://www.bookswealth.com

An Aging Population Breathes New Life Into Entrepreneurialism

23 Jun.
Posted by bsl1964 in Entrepreneurship | Comments Off

“Age is no barrier. It’s a limitation you put on your mind.” – Anonymous

We’ve all seen the hamster running in the wheel. He’s going nowhere, but he’s fast. This concept is clearly understood by a workforce that is aging and a business climate that is outsourcing or looking to a younger generation to fill critical roles in the workplace while often demanding more from their present employees..

“Age wrinkles the body. Quitting wrinkles the soul.” – Douglas MacArthur

The Chrysalis Corporation notes that, “Starting in 2012, nearly 10,000 Americans will turn 65 every day.” The quality of health care has resulted in a population that is living and working longer. However, this population expresses a level of dissatisfaction with their present jobs.

Consider the following statistics relating to job satisfaction:

42% Coping with feelings of burnout
33% Feeling at a dead end in current job
21% Looking for new job at another company
20% Looking for a major career change
9% Feel they do not have adequate training of knowledge for their job
(Source: New Employer/Employee Equation Survey, Harris Interactive 2005)

Interestingly these statistics do not necessarily reflect a workforce that is indifferent to work they simply reflect a growing dissatisfaction with business as usual.

“I could not, at any age, be content to take my place in a corner by the fireside and simply look on.” – Eleanor Roosevelt

Many are discovering an entrepreneurial recipe that is giving them hope for a “different” future. The mixture I speak of includes the possibility of setting your own hours, being your own boss and finding something you are passionate about.

There is a phenomenal growth in entrepreneurial startups among those 50 years of age and older. Advances in technology and connection through the Internet are allowing an aging population to leave the workplace, do something they love and recapture their own destiny and, in many cases, identity.

“Dreams are renewable. No matter what our age or condition, there are still untapped possibilities within us and new beauty waiting to be born.” – Dale E. Turner

One of the selling points of Internet entrepreneurialism is there is no age bias. The consumer only has to be interested in the product and rarely even wonders who the business owner is.

As job cuts become more pronounced through downsizing or outplacement it is likely more aging entrepreneurs will agree with Aldous Huxley who said, “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.”

Many successful startups in today’s online marketplace find their roots in the hearts of aging corporate workers who are tired of the hamster wheel, are willing to bring their life experience to the world of entrepreneurship and are seeing a return of greater overall job satisfaction.

Scott Lindsay is a web developer and entrepreneur. Make your own website in just 5 minutes with HighPowerSites at: http://www.highpowersites.com or Build A Website at: http://www.buildagreatsite.com. Start your own ebook business with BooksWealth at: http://www.bookswealth.com

The 3 Things You Must Know About The LLC Before You Start An LLC

21 Jun.
Posted by amylimcd in Entrepreneurship | Comments Off

Starting an LLC for your business is a necessity in the world today where predators are everywhere looking for ways to take your hard earned personal assets.

But, before you start an LLC, you must learn about the LLC so you do not fall into an unknown trap of personal liability even with an LLC.

This Article summarizes 5 things you should take care of before you start an LLC.

ONE. If you do not start your LLC properly by forming the limited liability company in accordance with your state laws and requirements, you could have a defective LLC. A defective LLC is like building a house with big holes in it or without any locks.

Over time, as predators learn about the LLC you formed, those defects can expose you personally.

Insist on retaining LLC formation services from a company that is knowledgeable about LLC requirements. Beware of fly by night cheap services who do not know the rules.

TWO. Before you start an LLC, you need to come up with an LLC name that works for your business and is available as an LLC name in your state of formation. Many business owners faced major filing delays when they start an LLC.

Make sure your proposed LLC name is available PRIOR to submitting your LLC formation filing. In most states, once a filing is rejected, it could take 3-5 times as long to fix and complete.

Insist on retaining LLC formation services from a company that will work with you to confirm a name is available prior to submitting your filing to start an LLC.

THREE. When you really learn about the LLC, you find out that it does not protect you personally in every instance and situation.

Every business owner should start an LLC because the protection is well worth it, but there are requirements after formation that every LLC owner and manager should know about to preserve the protection and there are some situations where the LLC will not provide protection.

This knowledge is invaluable to a business owner and something you should learn about and understand prior to the time you start an LLC. By learning the fundamentals about the LLC and how it works and does not work, you can better plan for business protection by using other methods to protect you in those areas where the LLC has some limitations.

Unfortunately, it is difficult to find this information in an easy to learn format. You can seek the advice of an attorney but this can be quite expensive and most LLC books for business owners out there do not provide the necessary information. Do your homework and make sure you learn this at the beginning of your LLC business.

The LLC Expert offers a free LLC Guide and an eBook: The Six Step LLC Formula for Limited Liability Protection to teach business owners about how to maintain solid LLC protection. Visit: http://www.TheLLCExpert.com

Forming an LLC Alone Will Not Always Protect You

21 Jun.
Posted by amylimcd in Entrepreneurship | Comments Off

Did you know that many LLC business owners are still finding themselves at risk for being personally liable for the obligations and lawsuits of their business?

Wait! An LLC is supposed to protect the business owner from personal liability. A properly formed and maintained limited liability company does just that but many owners do not know the things they should be doing after formation to preserve the protection afforded by their entity.

Also, there are a few situations where an LLC business owner cannot escape personal liability. For example, say you were driving a company car on a business related trip and you were negligent (your fault) in a car accident. The other party can sue you personally and you will be held personally accountable and liable for your own personal actions.

It does not matter that you were acting as an agent of a business and engaged in business activity at the time. You cannot escape personal liability for your own tortious actions ever. What this means to a business owner is that your limited liability company should always have insurance policies to cover this area where the protection does not extend to.

While the above example is a type of liability an owner can never escape, there are many liabilities that LLC owners find themselves personally liable for that they could have avoided with proper planning.

The bottom line is that you cannot form a limited liability company and then just ignore it when running your business or fail to properly maintain the entity LLC as a separate business entity that is running your business.

It is important that an owner not only insist on proper LLC formation but also that he or she get the information needed to know how to properly operate and maintain the limited liability company after formation to ensure that he or she is best preserving protection.

An limited liability cmopany is really a liability protection vehicle. If it is not properly operated or maintained, it turns into a ticking time bomb which can cause you to lose everything. And, the more successful your business gets, the more likely it will be targeted for a lawsuit.

Make sure your LLC is acting as a fortress of protection for you and your family. . . get the proper education. The principles are simple. Most owners just do not know what they are and so do not comply with them in their businesses.

If you are just starting an LLC for your business, make sure you use a reputable attorney or online formation service that guarantees proper formation and, better yet, gives you the important education for what to do after your form your entity to avoid the fate of many other business owners who later are found personally liable despite having a limited liability company.

Learn more about How to Properly Use the LLC for Liability Protection. Visit the Learning Center at http://www.TheLLCExpert.com which is the only online LLC service that teaches what to do after formation. Author-Amyli McDaniel, The LLC Expert