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A Secret To Extraordinary Accomplishments I sat watching a documentary on U.S. Navy SEAL Team Training on the local exercise channel. It showed young men, mostly in their early 20's, enduring grueling ocean swims in near-freezing water. It showed these same young men forced to swim underwater (holding their breaths) until a major percentage of them passed out and had to be rescued by their instructors. It showed weeks of grueling training in which ordinary men are transformed into incredible machines with wills of steel and unshakable discipline. Why Every Student Should Start a Business With the economic downturn, students in all the major business schools have been dropping out of their entrepreneurship classes and transferring back to classes where they think they have a secure future. Students and professionals who were once planning to start businesses now have decided to go back to their cushy jobs. Everything is going back to normal. Or at least that is how it looks. Below are nine reasons why any student should start a business:You gain experience. Owning and running your own business is an incredible way to gain experience and credentials regardless of whether you decide to stay in business once you graduate. Jaime Gonzalez of Oklahoma State University received the highest job offer in his entire graduating class. Now, there are two kickers: First, he was the founder of an IT consulting company, and second, he had a 2.4 GPA. Hmmm...I wonder if starting a business helps in getting a better job when you graduate? You have nothing to lose. I think it's safe to say that most students dip into their parents' checkbook when it comes time to pay the bills. In general, students aren't paying child support, rent, utilities and many other expenses. The worst thing that could happen if your business fails is that you get a job, have an incredible credential on your resume, and have experience that will increase your chances of success in the future. The best thing that can happen is that you'll become the next Microsoft. I don't know about you, but I think that is better than choosing between no job and jobs that you're in just for the money. Two-thirds of millionaires are entrepreneurs, according to Thomas Stanley and William Dank, authors of The Millionaire Mind. If it's the money you want, then consider entrepreneurship. You receive not only a salary, but also a lot of money if you're lucky enough to sell your company or take it public. Michael Furdyk, a successful young entrepreneur, was able to sell his business, MyDesktop.com, for $1 million when he was 16 years old! You develop networking skills. You've likely heard that your network increases your net worth. Consider the fact that by running a business and constantly being in a business community, you will develop excellent contacts. If you choose to get a job after you graduate, you will have a great pool of people who will be more than happy to hire you or send your resume to somebody who wants to. You increase your value. Put simply, starting a business in college increases the value of "the brand called you" and gives you more options. For example, an entrepreneur with a large brand value can publish a book, star in a documentary movie (i.e., Startup.com), or go straight to the top of another company. I recently met one of the founders of Diversity Planet, a job site for minorities. He spent a year working very hard on the company and has since left to take a reporting job with Dateline NBC at the ripe age of 20! People don't often don't get an opportunity like that until they are much older. Operating a profitable business in the long term is less risky than being an employee in the long term. For example, just look at the recent economic downturn. Tens of thousands of people have been laid off. I can guarantee the owners of profitable businesses are still with the business. They will be the last people to go down with a ship. Business owners can have multiple streams of incomes from different customers. If you're an employee, you only have one stream of income and therefore are bearing more risk. You will learn more about yourself and what they don't teach or prepare you for in school. Furthermore, entrepreneurship is the combination of all the disciplines of business. It includes knowledge of marketing, accounting, management and operations. Already having knowledge of these topics before you take classes on them allows you to see more clearly how everything applies. Also, you will be able to learn early-on what subjects you like so you can make better decisions on what to major in and what industries to target. It is yours. You make the rules, create your own hours, work from wherever you want and choose who you want to work with. You can also pick what interests you the most in the world and then start a business that is related to that topic in some way. If you like art, you can start a design business. If you like marketing, you can create or choose a product and then market it. If you like writing, you can write a book and do your own public relations and marketing. If you like the Internet, you can start a Web development business. You'll grow. I personally have grown a lot from owning a business. I used to be terrified to speak in front of others. Now I look forward to it. Before owning a business, I had probably read a total of five books outside of school, and I only read them because my mom made me. Since starting my business, I've probably read more than 100 books. The business has also allowed me to learn more about myself. I know that I will be an entrepreneur forever in some way, shape or form! Starting Up and Keeping Going So you had that fantastic business idea, the one that's going to be wildly successful and make you a fortune - and even better, you actually did something about it and started your own business. Good for you! Not everyone gets even that far. Most people sit and day dream about what they might do if only .... 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. How You Can Earn $1000 A Week Part Time About 6 years ago I started to notice that certain friends of mine had quit their jobs but continued to live very luxurious lifestyles - seemingly without doing very much. I thought they must just be using up their savings until I discovered they were all making a fantastic living by spending just a few hours a week doing something I had never heard of before - "financial spread betting". History of Enterprise Car Rentals So few really understand the drives and motivations of entrepreneurs. Many write about them, some lecture and teach about what they are, how they operate and what they have achieved; yet so few really understand them. So many fail to realize the dedication and sacrifice it takes to win at that level and the super stars are so rare that one just has to look in awe. One of the greatest stories of Entrepreneurial success is that of Jack Taylor who founded Enterprise Rent-A-Car. I therefore recommend this book about the History of Enterprise Rent-A-Car Book is; Cut to the Quick - What is an Entrepreneur? The Inside Story Enjoying the title of entrepreneur is a hollow feeling. Herb Filled Pillows Make Over a Million Dollars Lauren Rosenstadt was a single mom working at a herbcompany in Bethesda, Maryland. A herb (pronounced "erb") isa plant that has medicinal, savory, or aromic qualities. Oneday while at lunch with a friend whose daughter sufferedfrom insomnia, Lauren thought, "If I could fill a pillowwith herbs, that would be soothing and help my friend'sdaughter sleep." Prescription for the Future and Technological Revolutions The world sure has changed in the last two-decades hasn't it? When I started out in business, there were no cell phones, fax machines, computers, etc. And I am not that old, having just retired at age 40. Indeed, in the better part of two-decades everything changed. And it is still changing and moving along. What will the next two-decades bring? You can probably figure it out with a little thought and watching the trends, new discoveries and think of what kinds of things the military, health care, entertainment and government industries will want. I recommend this book which foretold much of what we see now about a decade before we had it: Be Where the Pucks Going To Be The "Great One" said it best Identify the Growth Factors In "The Incredible Hulk", mild-mannered scientist Bruce Banner discovered that when he was exposed to "gamma rays" he was transformed into a massive beast that could ferociously muscle his way to victory in any situation. Other than being disfigured, green, and in nothing but his boxer shorts, the Hulk discovered that a single growth factor could drastically change his ability to handle his problems. Are You An Entrepreneur? With all the buzz about everybody being an entrepreneur these days wouldn't it be nice if you could really find out if you have what it takes? Business Start Up Tips From Some Hearty Entrepreneurs When's the last time someone asked you: "What's new?" If you're starting or growing a business, an e-business, or a web site, the answer is: "Everything!" ? especially on the inside. Starting a Company on a Shoe-String Budget A lot of people never start businesses because they believe they don't have enough money to do so. Unfortunately, these same people don't realize that many of the world's most successful companies were started on a shoe-string budget by an entrepreneur with limited resources. Below is a list of tips to help you save money when you're first starting a company: Manage your finances in MS Excel, not Quickbooks. Manage your contacts in MS Outlook, not ACT. Get free legal and accounting advice from law/business students or lawyers/accountants who are willing to do pro-bono (free) work. Look for and join organizations that support youth entrepreneurs and small business owners. Hire unpaid interns and make their job exciting. Partner with somebody instead of paying them. Use credit cards. Get free, professional advice from SCORE, Teachers, and Professors. Get investments from family and friends. Find organizations who incubate startup companies or companies who might have office space that might be willing to let an aspiring entrepreneur use it. Perhaps, your school will let you use their copy machines and phone lines. Swap services with a company instead of paying them. Learn how to do graphic design and web design yourself. If you have these two skills, the startup costs of every business you have in the future will be dramatically reduced. Entrepreneurial Business Plan The Down And Dirty Way Does the idea of running your own business sound exciting? Do you have a business up and running and want to take it to the next level? Business Name - How to Choose One It's very important to get your business name right. You may already have a business name but it's not too late to change it. Let's face it; big organisations change their business and product names all the time. What Makes an Entrepreneur? Rupert Steiner in his book 'My First Break' attempted to define the secret of becoming an entrepreneur and following interviews with over one hundred entrepreneurs, Steiner concluded that there was not one defined path. He has, however, drawn out observations of an entrepreneur's personality traits. They have a tendency to be rebels, outsiders, original thinkers, risk takers and break new ground. Entrepreneurs are always on the lookout for new business opportunities and have the guts it needs to start up a business. They have total commitment to what they are doing, which verges on obsession behaviour. Good Questions, good Answers; Bad Questions, Bad Replies I'm convinced that asking the right questions is one of the most important skills you need to become a successful business person. Questions have the power to direct you or to distort you. The right kind of questions will direct you to success the wrong kind of questions will direct you to bankruptcy. Determine Your Niche & Be Successful What's a niche? Angel Investors: 7 Online Business Plan Scams and 1 Real Deal We've all seen the hype: "We'll put your plan in front of thousands of investors!" "We'll write you an award-winning online business plan!" "Only $3,000 for thousands of investors to learn about your company!"
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