4 Lessons Small Business Owners Should Learn

1.  Your entrepreneurial mindset, assuming you have one, is not just a different way of thinking, it’s the only way. Let me explain, if someone with an entrepreneurial mind sets out to start a business, by obviously solving a problem or many problems, their business will turn out better than someone just in it for the money who creates your standard corner bakery when there’s another one right across the street.  Entrepreneurs tend to have a personal brand, that complements every aspect of there life while not getting in the way of the business or corporation side of things.  This is very useful to have, especially when starting a business.

2.  Problem = Opportunity.  This is what entrepreneurs are all about.  This is how they are born.  They see problems, and create a solution for them.  This can come into play anywhere, in any situation, such as an employee creating a new file system that works specifically for one company, but works much more efficiently than the previous, standard filing system that was in place.  Right now, the hot thing is taxes, in America at least, so a lot of people are offering accounting services, not just those big businesses, but people who have taken classes in High School and College who are seeking to make money by solving a current problem.  Today, it’s taxes and accounting.  Tomorrow, it’ll probably be how to live greener, or something else on a popular topic.

We entrepreneurs also have a lot to thank huge corporations and organizations for.  Without them not addressing the real problems, we would have to find something else to do with our lives.  Instead, there are many problems, with rather simple solutions, which can be easily implemented, which have been created and neglected by these huge businesses.  So, thank you bureaucracy and huge businesses for creating problems that we can capitalize on and fix.

3.  Run straight at something, and don’t try to sidestep it. This is applicaple anywhere, and not just small business, but it is still great to mention.  If you quit your job because you hate it, I’m sorry to say, but you’re probably going to hate every job.  Now, of course, there’s special situations, such as myself, but in general someone who quits their first job because they hated it will quit their second, third, fourth, etc., because they hated them too.  Don’t use leaving your company as a chip on your shoulder to start your own business.  Sure, this will give you the initial motivation, and the drive, but once it starts becoming succesful, you will probably start to lose your drive, and it’s probably not because the buiness you are running isn’t for you, it’s because it isn’t you.  Entrepreneurs don’t fail slowly, and don’t fall easily, they either hit the ground at 100 mph, and become road kill, or bounce off the ground at 50 mph, and keep plugging away for that day of gratification in the far off future, so if you’re the kind that leaves marks on the road, you probably shouldn’t even start your own business.

4.  You’re different, not better, not worse.  With this mentality, you may see your world completely differently.  You don’t need to look at other businesses and compare yours to their necessarily, because this creates the illusion that you might need what they have, or they might need what you have.  While the business world is like that, I ask you not to make it like that for yourself.  You’ll be a lot more successful by putting things into perspective and focusing on yourself, not others.  Instead of comparing your earnings, at least compare your customer satisfaction rate, because along with that, comes more money.

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7 Benefits of Being an Entrepreneur

All successful entrepreneurs bring in benefits, but not just for themselves.  Their businesses also usually allow their surrounding area to reap the benefits as well.  Here are seven benefits brought around by successful entrepreneurs.

1. Obviously, number one is going to be the great financial profit, which an entrepreneur makes from his or her business(es).
2. Being self employed is number two.  A person always has better job satisfaction when working for themselves.  The flexibility of being your own boss also allows you to do more than you previously could.
3. The creation of new, and sometimes better jobs is number three.  This is where being an entrepreneur can help the world around you.  Think, if an acquaintance of yours was overqualified, yet working at the local department store while looking for a better job, and you set them up with a much better one with benefits (I’m looking at you Wal*Mart).  Now, your doing that person, and the other people like them a big favor by creating better jobs for them.
4. Number four is the fact that you are most likely to use local materials, whatever they may be, to create end-user products.  This will increase the wealth of your entire community, because the company producing the materials will be able to create more jobs, and offer better pay, and the people you are hiring will be paid better.
5. This brings us to number five.  Since America’s system of capitalism allows, and sometimes even goes so far as to encourage competition, you’ll be a part of that, thus producing better products, in a price battle, which will benefit end users greatly.
6. Number 6 deals with talent.  Because of your new business, you might be able to help keep raw talent in the community, instead of moving away to places like New York City, Philadelphia, and San Fransisco.
7. Number seven, is just the fact that your entrepreneurship is likely to be a role model to many young people who see how successful you can be by starting their own business, and they may be inspired to start their own as well.

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4 Helpful Tips For Starting A Business

Starting a business is very hard, regardless of whether you are an extremely self motivated person, with a lot of time and resources at your disposal, it’s hard, and you can’t deny it.  Aside from the basics, like time and money, here are 4 things that you really need to keep in mind, no matter what your situation is.

1. 

   You mush believe in yourself and your company and/or brand.  This belief is imperitive, as it will keep you going, and working, even when times are tough, and believe, they’ll get tough sooner or later.  Plus, if you don’t believe in yourself, how can you expect a potential client or customer to believe in you?  Another word of adive comes into play as well, here.  If you aren’t passionate about something, don’t start it.  If you don’t like programming, don’t start a programming consulting business.  That way, it will be easier for you to believe in yourself, and finish what you start.

2. Don’t fall victim to temporary distractions. Trust me, you’ll always be able to find an excuse why you couldn’t do something that seemed insignificant at the time, but if it’s relative to your business, you had better do it, because if you keep allowing distractions and excuses to rule you, you’ll eventually run yourself into a whole, and ruin your business and the dreams you had for this business.  Lot’s of successful businesses started out with a tight budget, which just proves that persistence and working hard goes a longer way that a huge wad of cash.
3. Remember, starting out small isn’t bad.  In most cases, it’s wonderful.  You won’t get ahead of your cashflow with your spending, and you’ll be able to expand when needed.  You’ll also be making a consistent, and proportional income, which will grow as your business grows.
4. Don’t give up! I know, everyone says it, but it’s true.  Many people fail before they get things right.  Look at Thomas Edison, and how many times he failed before any of his inventions worked properly.  Of course, he had those Eureka moments, but that was because he hard been consistently working hard, and that hard work paid off.  The same will most likely happen to you.  You will have to go through and try different payroll systems, and invoicing techniques until you find the one that works the most efficiently for you.  I can’t stress the “for you” part of that sentence enough.  Even though something works for someone, it might not work for you, so please keep that in mind, and remember, only you can keep you going.

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