|
 |
|
|
RELATED ARTICLES
7 Lean Marketing Laws For The Inspired Entrepreneur The following laws will provide guidance on how to act,think and work in a lean way. You can apply these laws toall areas of your life, work and business to get biggerresults from the time you invest. Street Smarts Vs Book Smarts, What Does It Takes To Be An Entrepreneur The latest series in "The Apprentice" features 2 distinct group of candidates. One group, who are only high school graduates are termed as "Street Smarts" by Donald Trump whereas, the other group are all college educated with some having MBAs and advanced degrees. They were termed as the "Book Smarts". Double Your Income Automatically It is a common known fact that it is far cheaper to keep an existing customer then it is to acquire a new customer. With this fact in mind you need to do everything possible to keep your existing customers happy and find complimentary products to offer your existing customers. Bring That Difference To Your Business! Romans had a phrase for this- First among Equals. 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; 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! 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. How To Start a New Business While it is tempting to just leap into a new business because of it's exciting possibilities, a few key planning points will vastly increase your chances of success. These steps aren't difficult, but they're easy to skip. Many businesses ultimately depend on a slim profit margin, so planning can really help the process. Too many restaurant patrons, for instance, assume that running a restaurant seems fun because of the many restaurants they have visited, but restaurants have an especially high failure rate. Financial Strategies for Transitioning from Salaried to Solo 7 Financial Strategies for Transitioning from Salaried to Solo Franchises - Emotional Fulfillment - Control Your Destiny Does A Franchise Meet Your Needs? Entrepreneurial Excerpt from a Speech to Small Business Having built a business from a bucket of water and sponge, which started over 25 years ago in a National Franchise chain in 23 states, I feel comfortable discussing entrepreneurship. Electronic Tools for Entrepreneurial Success "Half of any job is having the right tool" was one of the earliest lessons I learned from my father growing up on a farm in Nebraska. As an organizing and productivity consultant, it continues to serve me well. Entrepreneurs Ask: As a Novice Entrepreneur, How Can I Feel Less Overwhelmed? Great question! Overwhelm is very common even among the most veteran entrepreneurs, so take solace in the fact that you are not alone. With the ever-increasing numbers of new entrepreneurial endeavors, and therefore new entrepreneurs, there are many who are experiencing the very same feelings as you. Competitive Edge In his book, The Road Ahead, Bill Gates of Microsoft writes of "friction-free capitalism" made possible by developments in communications, chief among them the Internet and its World Wide Web. In this context, "friction" is everything that keeps markets from functioning as the "perfect competition" of economics textbooks. This friction can be a function of distance between buyer and seller, costs of overcoming this distance, and incomplete or incorrect information. Work On, Not In Your Business Are you busy? Everyone's busy! Ask anyone they'll tell you how busy they are. But how many people are accomplishing real results? Determine Your Niche & Be Successful What's a niche? Methods of Generating New Ideas for Entrepreneurs Summary: Even with a wide variety of sources available, coming up with an idea as the basis for a new venture can still be a difficult problem. The entrepreneur can use several methods to help generate and test new ideas including focus groups, brainstorming and problem inventory analysis. Do You Want to Just Survive or Thrive? (Part 1) You've probably heard this, or maybe you will relate to this personally. Have you ever arrived somewhere and wondered, "How did I get here?" or "Why am I here?" 10 Ways Entrepreneurs Shoot Themselves In The Foot Entrepreneurs and their businesses have a tendency to ambush themselves when they aren't looking. This affects how much revenue they can generate, how fast their business rises, and even if they survive after the first few years. If you feel there is a possibility you are getting in your way to success, review these elements to see if any of these items might apply. Rx for Falling Corporate Profits Once again the squeeze is on as renewed inflation worries slow the economy's growth and many companies resort to believing that cost cutting is the best means to scramble back to profitability in an uncertain economy. The problem with this classic approach is that it sends the clear message to your brightest and best talent that no matter how well they perform, today there is no job security. Not only does such a move have a serious impact on morale, but as the economy improves we will find ourselves once again in a very tight labor market. It will be next to impossible to replace laid-off workers and worse yet, your current work force, especially those brightest and best, may well decide that it is time to move on to greener and possibly more secure pastures before the next downturn hits. Is there a better approach than cutting off your nose today and spite your face tomorrow? Absolutely!
|
|
|
Copyright © Advancing Women (TM), 1996- 