I can Create Business

Things to Consider before Starting a Business

Starting a business can be an intimidating idea to think about. New establishments are looked upon as fragile and volatile. Usually, starting a business also requires some sacrifices, like the need to invest your hard-earned money and a great deal of time and effort without assurance of success. These are only some of the reasons why not everyone is enamored by the idea of putting up their own businesses. Others just do not have the confidence to pursue their ideas while others may not even know where to begin.

Whether you are a student struggling with student loans, a senior citizen looking for additional income or a young businessman looking to make it big on the market, starting a business will surely help you increase your finances. Your circumstances or your reasons for creating such an endeavordoes not matter when starting a business. What matters is your plan and strategy in turning it into a success.

Theodore Henderson who is partnering with the Entrepreneur Strategies Academy gives up and coming businessmen the chance to learn from the best. By enrolling in his one of a kind entrepreneurship course, you will gain the opportunity to learn from his knowledge about the business. A highly experienced lecturer and author, his various experiences in the field are great starting points to be better equipped in your journey towards entrepreneurial success.

In the meantime, let this list of the top 4 things that you should consider before starting a business curb your curiosity.

#1. Look and evaluate your skills

By examining what you can offer straight to the table, it may help you narrow down the possible services or products that you can sell. For some, their hobbies, like baking or crocheting, serve as their basis when creating their business.

#2. Look for a problem and see if you can solve it

Look for a problem that needs to be solved. Look for gaps in the already existing knowledge. Try to match the different problems to their corresponding solutions and match those solutions to your existing talents. In doing so, you may find a problem, which corresponds directly to your abilities. By looking for one problem and focusing your resources to provide a solution, you will most likely earn a profit.

#3. Make it original

Think of unique ways to make what you do original. For example, if you are thinking of developing a baked goods store, maybe crafting new flavors or inventing a new tasty treat is your ticket to success. Anything that you think will make what you offer different from other similar business can increase your chances of success.

#4. Define your intended audience or customer

You need to find out if there is actually a market for your products. You can do this by conducting polls and doing a survey. Also, by defining your target audience, you can improve the realiability of your products.

Attitudes You Should Have When Starting Your Own Business

Not every entrepreneur is the same. Some are born rich, some have university degrees, while others have none of these. Having a lot of money and a degree is not a requirement to be a successful business owner though. There are those who are not so wealthy and do not very impressive educational backgrounds that have succeeded as well. It’s just a matter of having these five characteristics. Make sure you develop these when starting your online business.

1. Thinks Clearly

You need a clear mind so you can absorb information about many different home business ideas. Learning as much as you can is a very important aspect of starting your own business. More so, you should avoid having a worry-filled mindset. If you always think about what can go wrong, then you can’t sleep well at night, and you can’t think clearly. Worrying too much will greatly affect your efficiency in managing your business.

2. Communicates Effectively

As a business owner, you should have good communication skills. You should be able to share your ideas to your clients and employees in ways that they will easily understand. Otherwise, how can you convince people to buy your products or to support your small business? If you can’t communicate well, you will miss a lot of opportunities to turn your online business ideas into reality. Business owners need to talk to people often. It’s part of their job to get clients, business partners, and many other activities that will help to grow the business. Thus, you really have to be a good communicator to succeed.

3. Pushes Himself / Herself

You can’t just rely on others to push you forward. Most of the time, you have to motivate yourself to keep going on the path towards success. Your friends and family are not always there, and more often than not, they’ll be less dependable when you’re facing challenges with your business. There could even be a few times where you’re all alone. Not everyone shares your vision and wants to realise your dream as much as you do. With that in mind, you should be able to keep pushing yourself forward without needing help from others.

4. Performs Consistently

Making your business take the “number 1” spot is hard, and keeping it on top is even harder. For this reason, consistency is your friend. If you are unwavering in carrying out your plans to grow your business, then you’ll most likely stay on that top spot for long. It doesn’t mean that because you’re now number one that you should slack off and give up. That’s not how business works. Anytime, someone else can dethrone you from the top rank. You should be committed to continue working hard for your business.

5. Really Wants to Succeed

Undeniably, the best way to succeed is still through passion. Having that burning desire to succeed in your home based business is a powerful thing that will drive you towards your goal of success. It doesn’t matter how many times you fail; you can always get up and move on. Keep your eyes on the prize and keep pressing on. Don’t be afraid about what others will tell you, and don’t mind them if they ridicule you. Just focus on your business, your vision for it, and what you want to achieve out of it!

If you have these five characteristics, then you are well on your way to be a smashing success! Your efforts will surely pay off soon. Keep the dream alive, and keep on going with your online business!

Is Starting a Business the Right Move For You

Dream Big

Dream big, work hard, and stay humble are the best words of advice anyone can give you, and self-belief goes a long way. It’s okay for young entrepreneurs to have big dreams; don’t underestimate what you are capable of. Steve Jobs was only 21 when he co-founded Apple. Don’t let the opinions of others impact your future. Don’t just think you can do it… KNOW you can do it. Believe in yourself and your dreams. Include others and get help from people you trust, people who have achieved what you want to achieve, to fulfill your dreams.

I’m proud to say that many have helped me along my path, and I’ve helped many. Without the help of people more experienced than myself, my latest achievement wouldn’t have been possible. Many others were a part of my newest project, an e-book about photography, and it’s one of my greatest joys to help other dreamers succeed as well. From the business owners and clients I serve, to the talented team I’ve hired and trained, to other entrepreneurs and friends who are business owners.

Work Hard

Working hard is a relative concept; the hours we work, how hard we work, and the magnitude of what we’re trying to achieve are as different as each of us. But “hard work” has a common denominator no matter which way you slice it: how you handle yourself when things go wrong. Because they will. The next best piece of advice anyone can give you is this: be resilient when things get hard. You’ll get rejected, over and over again, but don’t lose faith in your goals. You may fail in the beginning more than you’ll walk the path of success, but if you dream big, work hard, and fight failure, you’ll change history by making it better.

Stay Humble

Another one of my favorite nuggets of wisdom: don’t be a jerk. This world needs fewer loud mouths. Just stay humble. Most successful people don’t take credit for the work they do. Instead, they build up their team or others around them. Ordinary people do change the world; it doesn’t matter where you come from, what school you went to, or how you grew up. Don’t let anyone ever tell you no as you keep moving your dreams forward, but at the same time, keep a humble attitude on your way to the top and remember that you can always learn, grow, improve, and benefit from the knowledge of others.

Passion

While all of this lofty advice sounds great, your passion for what you love to do is a must. Without it, none of this other stuff matters. Writers, athletes and even scientists, famous or not, love what they do because it’s their passion. You have to find yours. Define what you love to do and why you love to do it. Be specific: what do you love about the field you’re pursuing? Is it helping people? Is it being creative? Is it the feeling you get when someone responds a certain way to your work? Is it being part of something larger than yourself?

Being a business owner is not about calculating figures, networking, balancing your finances and profit margins. Many successful business owners associate their business with passion and love, even when they face challenges, work long hours, and experience financial difficulty. Things can get scary and tough: your passion is the only thing that will carry you through the turbulence. It’s important to not just like what you do; you have to LOVE what you do.

Reevaluate Where You Are

If you are stressed at your job 8 hours a day, you may want to rethink what you are doing professionally. When you are stressed doing what you love, it feels more like 15 minutes of your day versus 8 hours. Being fully invested in something that is your passion and not just filling a role makes time feel different, changes your energy, and makes everything about what you do and how you produce better. Find your niche, whether it’s people, a product, or a field. And once you find it, while you’ll most likely love the majority of what you do, there may be aspects of the business you don’t like.

When we turn a passion into a business, especially when we own that business, we have to wear many hats… some of which are less enjoyable than others. For example, finances and accounting aren’t my forte or my passion, but I make sure the stuff I don’t like takes up only 20% of my time so that the stuff I love takes up 80%. If these figures are ever flipped, you’re doing it wrong.

Ambition or Passion?

Don’t mistake ambition for passion. Wanting to advance and striving to get ahead are ambitious qualities. Taking on projects and filling your plate are ambitious. Stepping into unknown territory and taking risks are ambitious. But if ambition isn’t fueled by passion, it will be easy to burn out. Your motivation has to be right if you plan to stay the course. Many business owners seem overly ambitious, but honestly they just love what they do. That passion will make you believe in yourself even more, helping you to pursue things you might otherwise be afraid of or not care to. Of course, you have to be smart about it (sometimes an excess of passion can make people reckless), but If you love what you do, you tend to do a lot. That’s why you’ll be perceived as ambitious.

Finding the One

Finding your passion is a journey in itself. The discovery process is an amazing, transformative experience that you’ll look back on with awe. You may not know right now what your passion is, but keep pushing forward and you’ll find it. Sometimes passion may find you as well, so let yourself be inspired. Tune in to the things that make you tick, make you think, make you feel.

Most people find their passion by just getting out there and trying different things. Eventually something is going to stick and you’ll come up with an idea that you know will work, and you’ll love turning it into a new reality for yourself. Finding your passion is like finding your true love. You’ll go on many dates and, ten dates later, you’ll find “the one.”

Redefining Your Goals

What is your life goal? If it’s “to get rich,” you have the wrong mindset. What do millionaires and billionaires say? When they started out, they loved doing what they did, and the money just happened. You may have to walk away from a secure job and start anew with a lower-paying position or bringing in very little money when you first strike out on your own. But your passion will translate to the faith that carries you through. As long as you maintain a mindset of an inverse ratio of passion to money, you’ll be in good shape.

Personally, my passion for and love of photography has made my business more successful than I ever dreamed. I started at the bottom just like everyone else, but I was lucky to have had the same mindset as other successful business owners. Passion is what drives me to always work hard, focus on my business, push forward, improve, serve, and persevere, because I love what I do. If you have a full-time job and it wouldn’t be wise to quit and start all over right now, then follow your passion on the side until you can get out. You’ll eventually be able to make the jump, and when you do, you’ll appreciate the experience that much more.

How to Work Smarter Instead of Harder

“What we have to decide is what to do with the time that is given to us.”

Smart or Hard?

Hard work is important. Those who work hard and are consistent with their work are much more likely to achieve the things that they want.

However, working hard doesn’t necessarily mean that the work you are producing is of value and good quality. Other times working too hard may cause stress that leads to producing work that is of lower quality.

I believe that we must put more emphasis on working smarter. Let’s look at 5 ways on How to Work Smarter Instead of Harder.

Time. The first thing that you should be aware of is how you spend your time working. It’s a good idea to make a plan of what you will be working on, how you will carry out your work and also to decide how long you need to spend working on each task. This way you will learn how to use your time in a smart way so that you can reduce your working hours while being more productive.

Standards. Having standards are different that having goals. Standards mean that you have to obey to them because that is how your mind is conditioned. Setting higher standards mean that you are conditioning your mind to achieve things that you haven’t achieved before.

Reflect. A great way to monitor your work is to reflect on the goals that you have achieved and the ones that you fell short on. This way you can understand what works and what doesn’t, so next time you can set new goals applying the things that do work.

Distractions. Staying away from distractions will keep you focused while you are working. The main distractions to be aware of are smartphones, emails, social media and music. While working avoid these unless they are necessary in your work. Working without distractions is a great way to work smart and have more time in your day to do other things.

Downtime. Lastly, it is important to know that you shouldn’t work for long periods without giving yourself breaks. A nice routine is to work for 45 minutes with 10 minute breaks in-between. Furthermore, you should leave yourself time in the day to be enjoying the things you like to do and spending time with family and friends, after all that is more important than your work.

Remember to work smart alongside working hard. Use your time effectively and plan out your days. Create standards to achieve greater things. Reflect on your goals to find out what is working for you. Avoid distractions that use up your time and prevent you from working smart. And leave room for breaks to enjoy the things that you like to do.

Basic Tips When Starting an Event Planning Business

Basic Tips When Starting an Event Planning BusinessIs your entrepreneurial spirit kicking in? Do you want to engage yourself in the events planning industry? If you are, then this post is definitely for you. We will give you a quick overview of what you need to consider should you want to make this your serious business.

Know your Target

You might think that being the ‘jack of all trades’ is a good idea when you are starting your own events planning business. While it is important to know a lot of things, it is also vital to have focus. You have to remember that there are different events. We have the celebrations, education, promotions to name a few. Each celebration calls for different planning. You must know which one would be your forte so you can do more research on that, making you stand out from the rest of events planning companies. Engage in a specific niche that you enjoy doing before extending your network to other type of occasions.

Make Your Business Legal

Secure the necessary permits required for your business to be able to release official receipts to your customers. Being a legal business also increases your credibility as a service company to your clients. Registering business also protects you and your clients as well.

Building Contacts

Quite frankly, building contacts is never easy. And we believe one should be able to invest a lot of time building network. You should start from your family and friends. Tell them that you are starting up a business and would appreciate if they could refer you to their friends. From there, you can build your own potential clients. Just make sure your services are always the best so you can get the best advertising out there – word of mouth.

Creating Portfolio

Now that you have clients, never forget to document your events. Always have your camera ready to take snapshots of even the littlest details. Create your social media accounts so you can have a wider reach. And of course, always ask for testimonial from your clients and politely ask if you could quote them on your pages. Have a media kit as well that can be easily distributed as flyers to extend your services to potential customers.

Get Certificates

It would also be great for your business to get certificates. This is going to look good and of course, big companies would be more comfortable in dealing with you. So while you can, get certified.

An event planning business is a big business and opportunity you can explore. With the right foot forward in starting the business, success is quite easy to achieve.

Reasons Why You Should Be Your Own Boss In Business

“There is only one success, to be able to spend your life in your own way. – Christopher Marley.”

Becoming your own boss means that you create your own business. You are going to have to take responsibility for your business and you have to be willing to take risks. That said, here are 6 reasons why you should be your own boss.

You pursue a purpose – Being your own boss means that you are able to decide what you want to do with your career and your life. If you were working for someone else, you are working for their purpose, which you may or may not agree with. However being self-employed will give you the opportunity to create a unique purpose that will contribute to other peoples’ lives.

You are passionate – Creating your own business means that you can use your interests and passions to your advantage. You will be able to build a business that resonates with the things that excite you and give you passion. You will wake up every day feeling excited to work because you enjoy it.

You create freedom and flexibility – Working for yourself will mean that you can choose the times in which you work, creating a flexible lifestyle. You can spend more time with friends and family. Depending on the type of business you own, such as an Internet Business, you are also able to work from different locations, giving you the ability to travel while you work.

You control your finances – Being employed for someone else means that you are given a pay check that may or may not satisfy you. Being self-employed means that you have the power to control how much you earn. It will certainly be a struggle at first when building your own business to earn a good income. However as time passes and you commit to your business, the financial benefits can be very satisfactory.

You are in charge – There is no one to tell you how to run your business. You make decisions, you manage employees and you take the responsibility. Imagine working for someone else your whole life, where they tell you what to do and how to do it. Being your own boss allows you to do things the way you like to do them.

You grow as a person – Building your own business will build your character over the years. Your self-esteem will develop due to the confidence of managing your own business. Your legacy will develop as you make a difference in the world and change people’s lives. You will grow in many ways that you couldn’t of if you were working for someone else.

Finally, becoming your own boss is not for everyone. Some people do not want to deal with the commitment and persistence involved in creating their own business. They would much rather prefer to choose the easy option and work for someone else.

NonbProfit Does Not Mean No Money

There is a big misconception with first time business owners and entrepreneurs about non-profit businesses. Many first time business start-up owners think that they would rather start a for-profit over a non-profit because they want to make money. The thought is that they do not want to start a non-profit because they (incorrectly) think that non-profits cannot make money.

The fact is that there are more streams of revenue in a non-profit organization than a for-profit business. Although not all types of businesses are eligible for the non-profit tax-exempt status, there are some types of businesses that can easily be formed as a for-profit or non-profit. Perhaps the best example is a child day-care center. Regardless the type of business entity the child day care center can charge the same rates and fees for the same services. The staff can receive the same rate of pay and benefits. The same profits (surplus) can be gained.

In addition to generating the same revenue through the sale of products and services the 501c3 non-profit can receive tax-exempt donations from fund raising, in-kind donations of products and labor (volunteers), endowments, and grant funding. The 501c3 tax-exempt organizations are also exempt from paying federal income tax, federal unemployment taxes (FUIT), and in some states, sales tax.

Non-profit organizations can purchase capital assets such as property, buildings, and investments. Non-profit organizations can pay employees benefits, insurance, and retirement plans. Non-profits can pay for additional employee benefits and perks as long as they generate enough revenue to do so.

Non-profit organizations do have a limit as to the amount of revenue they can receive in a tax year. The limit is three times the amount of their estimated budget for that year. For example, if a non-profits budget was $500,000 for the next tax year they could legally generate up to $1.5 million before adjusting their budget and reporting.

A couple of examples of excellent non-profits and their ability to generate revenue are: the Girl Scouts of America (501c3) which sells cookies, and the NFL (National Football League, a 501c6) which is a kind of membership association of privately owned for-profit businesses.

These organizations generate hundreds of millions of dollars in revenue each year through their business efforts.

Why You Shouldnt Rely On Motivation As An Entrepreneur

Do you know the one thing you should never rely on as an entrepreneur?

Motivation.

Why?

Because your motivation changes faster than David Beckham’s haircut.

Think about it.

Let’s say you watch a “motivational” video…

You’re all pumped up…

You’re gonna be the next Bill Gates…

You’re invincible…

No one’s gonna stop you.

And then…

Two hours later…

You’re on the sofa with a large bowl of ice cream watching Jeremy Kyle.

(Okay, you might not sink that low.)

But you get the point.

Motivation is short term… VERY short term.

And as an entrepreneur, I’m afraid to say you have to play the long game.

So what can you do instead?

Well, have a long term goal… Decide what you want to achieve in ten years time. And I mean, really decide what you want to achieve.

When goal-setting, people tend to set goals they think they want, but it’s not what they actually want. So if you don’t really care about driving the latest Ferrari, don’t set it as a goal.

Be specific with your goals, too. If goal setting is to work, this is important.

Write everything down in detail.

Paint a word picture of your ideal home…

Your ideal holiday…

You ideal life.

Anyway, when it comes to goal-setting you should also have a medium goal…

As well as a weekly (or even daily) short term goal.

Then make a plan so you smash every goal you set.

That’s it.

No, it’s nothing “ninja”.

But, is it effective?

Absolutely.

Because you’re not relying on motivation to get you through the day.

Instead, you’re relying on your goal.

Anyway, no matter what your goals are when it comes to being successful as an entrepreneur, email marketing can help you achieve them.

What You Need To Do To Make Your Startup A Success

If you plan on striking out on your own to start a new company, you’ll find that there are ample resources that are designed to guide entrepreneurs through this process. Starting a company is cheaper and easier than ever before given the ability to leverage the Internet in order to effectively connect with people while minimising your operational and outreach costs. There are, however, a few important things you have to do to ensure that your startup is a success.

Although starting a business is currently cheaper and easier than ever before, it is still important for business owners to have a secondary and steady source of income throughout their first year of operation. This will take the pressure off of your company to succeed immediately. You will have sufficient funds for covering your ongoing operating costs and your basic living expenses and will not have to function in a constant state of panic.

Establish a solid working schedule so that you are devoting an appropriate amount of time to your new organisation. A lot of new business owners expect that they can earn massive sums of money overnight, without having to invest a whole lot of time or effort. In reality, however, must successful entrepreneurs work long days and nights, particularly during the earliest stages of business development.

Make sure that you have a functional and attractive website for connecting with your prospects and customers. This will likely serve as your primary sales platform unless you will be maintaining a blog to sell affiliate products, using third-party classified or auction sites to host your wares or opening up a brick and mortar store that people can visit in person.

Get help with the web design process so that your pages are both viable and accessible on a broad range of devices. You want people to be able to connect with you irrespective of the tools that they are using to search the web. Professional web development will also make it easier for you to optimise your pages for search engines.

Create a solid business plan that will serve as your guide during the most formative stages of your endeavors. It is important to have a clear strategy for how you will get things done and a cohesive outline of what you hope to accomplish. This will make it easier to properly allocate both your business development monies and your time for optimal returns.

Seek help when you need it but avoid over-staffing your company so you don’t run into any serious financial troubles before your profits become consistent. It is a good idea to work with people who are skilled in the areas you are not. It is also prudent to limit the number of financial obligations you take on, until you have sufficient money in savings for covering your operating expenses during slow periods.

Take the time to get the training you need in various technical areas in order to run your office efficiently and according to the requirements of your chosen industry. These can include Microsoft Office courses, training in human resource management and instruction for receiving any professional licensing your company requires. The more skilled you become, the less trained talent you will require to hire in order to establish a fully-functional organisation.

Making Way for Community Entrepreneurs

Community entrepreneurs are typically groups or organisations that seek out and act upon opportunities to transform communities and create a positive impact on community values.

Why this is different to social entrepreneurship is that many social entrepreneurship models focus on individuals and disadvantage.

Community entrepreneurship focuses on the community as a whole and creates a sense of abundance for all.

Examples of activities can include:

• A new indoor-outdoor community facility in a built up neighbourhood

• A community focus on activities that reduce the carbon footprint

• Business attraction in rural communities

• Making strategic use of IT to connect communities

• Creating community identities through music and the arts

What does a Community Entrepreneur look like?

They’re in your community. They have a story to tell – a story that has transformed your community. Or they probably haven’t stepped forward to make their mark yet? Maybe it’s you. Here are some ways to spot your local community entrepreneur or even one in the making.

The anatomy of a Community Entrepreneur

1. Laser sharp vision

Community entrepreneurs have a clear idea of what they want to achieve – both physically and in terms of impact on the community. Their vision is ambitious and ground breaking by anybody’s standard. Their challenge is not just to get the interest and support of the community, but to keep the community patient as all good things take time to build.

2. Mind over matter

Bringing a new idea to fruition requires strategic thinking. People can be suspicious of anything new. New ideas challenge those who are slower to accept change. From the start community entrepreneurs think and plan above the fray.

Conserving energy to focus on achieving results, community entrepreneurs focus on big picture thinking. Don’t try to bog them down, they will find a way to move ahead no matter what the obstacle.

3. The language of change

To be effective, they must be able to understand and communicate well to influence change. These groups operate within the community so the change they are influencing impacts on them as well. They are already talking the language of the community.

Their role is to motivate and lead through dialogue within the community and get the support of stakeholders and other agents of change to achieve the desired results. Failure is not in their vocabulary.

4. Shouldering responsibility

Leadership is a responsibility not to be taken lightly. Along the way others may want more control or will fade into the background when things are not going to plan. Individual personalities can make or break a community venture. At some point the group leading the project must step forward and own its responsibility, especially when it comes to finances, resources and process.

5. Maintaining a steady balance

They leave the knee jerk reactions to others. Negotiations require a steady nerve as they walk the tightrope of change. Navigating obstacles, ducking the slings and arrows of opposition, community entrepreneurs harness their vision and start with a goal and use a plan to get there.

6. Forward momentum

Community entrepreneurs are going places. No looking backwards for them. Propelled by positive energy that permeates throughout the community, they will succeed.

The only thing holding you back is your own self-doubt. Group think can get bogged down in dogma. Smash the chains once and for all and bring the dream to life.

Is your group the next generation community entrepreneur? Congratulations. There’s no better time to start than now. Don’t let self-doubt win before you begin.

The Community Entrepreneur is a company set up to support aspiring community entrepreneurs through the challenges and opportunities that must be addressed in order to achieve long term success.

We do this through our Entrepreneurial Thinking Coaching and Mentoring Program. We work with change agents within organisations as well as the whole organisation and support them through the ideas generation, planning and implementation of their vision or project.

Scroll To Top