Tag Archives: entrepreneur

Jan200917

Zachary Davis

2

7 Benefits of Being an Entrepreneur

SevenAll 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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Jan200916

Zachary Davis

1

12 Steps To Constructing an Awesome Business Name

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Creating a business name can be challenging, but with some hard work in choosing the right one, you should be able to reap the rewards later on.  Remember, a good business name is a good brand.  It should be memorable, not too short, not too long, and pronounceable.  Here’s a short list on how to create an awesome business name, and how to make sure it isn’t already a business.

  1. Brainstorm.  You need to think about how you want your potential customers or clients to feel when they hear your name.  I recommend that you write these words down, and then organize them by their primary meaning.  Use bot ha dictionary, and thesaurus for this, as both will be able to show you how your words are related, and may even give you name ideas.
  2. Relate your words even more.  You’ve already gone through the dictionary and thesaurus and related your words, no look up the Greek and Latin translations.  This will help you find out what other types of things such as colors or animals relate to your words.
  3. Experiment.  Make a list of words, combined words, and two word names from the words, and translations you researched.  Now is not the time to judge them!  I can’t stress this enough.  You might just fall in love with a name you didn’t really like, and would have scratched initially.
  4. How does that make you feel? No, you don’t have to go to a counselor for this step, but you do have to read your words and see how they make you feel.  Try seeing how they make you feel when you say them in your head versus when you say them out loud.  Is there a difference?  If so, it’s probably not a good choice.
  5. Ask A Friend.  Here, you’ll be using one of those “Who Wants To Be A Millionaire?” lifelines by asking your trusted friend which names makes sense, and which ones he or she likes.
  6. Prioritize, prioritize, prioritize.  You’ll be doing a lot of this with your business, so you might as well start with your business name.  Throw the ones out that just don’t work, and prioritize the rest in a nice list.
  7. Check trademarks.  Make sure anyone else isn’t using any of the names on your list, if they are throw them out.  Yes, you can use the same name if you are in completely unrelated fields, but that might create confusion between the names, and no one wants that.
  8. Check domain names.  If there isn’t a suitable domain name available for your proposed company name, I recommend throwing that out as well, as you will most likely be needing a good, relevant domain name in order to contact many of your customers and clients in today’s world.
  9. Use Google.  Even if there isn’t a trademark or a domain registered, it doesn’t mean someone else isn’t using the name.  Google should help you find out if anyone is.  Now, in this case, it’s a judgement call whether or not to throw the domain out.  My rule of thumb is, if they don’t have a website, they don’t matter, but there are some little businesses that run completely off forums, or something because they don’t have need for a website.  If this is the case, I normally try and find out how many clients they have, and this will give me a good idea of whether or not to throw the domain out.
  10. Check some more.  You are going to need to check company names, and assumed names.  In the U.S., you can check with the Secretary of State about company names, and your County Clerk about assumed names.
  11. Claim It! Now that you’re sure your name is available, grab it before someone else does.  File all your paperwork with the appropriate places, and start using Trade Mark or Service Mark right away, as these don’t have to be registered, at least not in the U.S.  You should also register your domain name.  I recommend getting at least the .com and .net TLDs.  Others you might want to look into getting are the .info, and .us, if you are in the United States.
  12. Buy It! Buying a Service Mark or Trade Mark costs $325 in the U.S., which is nothing compared to the court fees you could potentially spend defending it in a lawsuit.

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Jan200916

Zachary Davis

0

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. Image: John Nyberg

    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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