|
|
| Home /Entrepreneur 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? In your small business, it's easy to get buried in the myriad activities that demand your attention each day. Consequently, a valuable rule of thumb to follow: Work only on income-producing tasks from 9-5. To accomplish this objective, it's important for entrepreneurs to recognize the difference between activity and action. Merriam-Webster's dictionary defines activity as: 1. The quality or state of being active. 2. Energetic movement. 3. Natural or normal function. 4. A pursuit in which a person is active. 5. A state of motion. Working in your business is that state of constant activity where you feel as if you're spinning your wheels, but not making any progress toward your objective. You can easily get hypnotized with shuffling and sorting papers, surfing the Net, replying to each e-mail as it pops up in your Outlook and other non-income generating tasks. On the other hand, the word action is defined as: 1. The bringing about of an alteration. 2. A manner or method of performing an act of will. 3. Behavior producing a result or outcome. Working on your business is that state of action that produces results. So, what are your goals for your business in the next 30 or 90 days? Take the steps to accomplish your goals now! Network. Speak at events. Write articles. Make telephone calls. And, follow up! If you are inclined toward busy activity, hire a virtual assistant for the mundane tasks, a professional organizer for organizing your files and office, a book-keeper for your receipts, bills and taxes. Don't forget, a business coach will help you implement efficient systems and processes to streamline your business. Whatever you do, get busy on generating action. ?Lena Claxton 2005 Lena Claxton, M.Ed., is a business coach and marketing consultant who works with solo entrepreneurs to help them reach their highest potential. Download her free e-book "Small Business Boosts" at http://www.ontrakmarketing.com
Other Articles in This Category: How To Start a New BusinessTwo Types of Business Plan Executive Summaries When Your Business Feels Like an Arranged Marriage My Nemisis Pre-Money vs. Post-Money Valuation The Term Sheet?s Role in Raising Venture Capital How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too! Entrepreneurial Business Plan The Down And Dirty Way Documenting Partnerships in Your Business Plan The 7 Major Reasons Businesses Fail and How to Overcome Them 5?4?3? 2...1? Do You Want to Just Survive or Thrive? (Part 1) Territory Limitations Policies for Franchised Companies The Use of Common Stock in Venture Capital Transactions Six Steps to Guarantee Your Business Success Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It |
|
|
|
RELATED ARTICLES
Entrepreneurs Just Get Better With Age Q: I'm thinking about starting a business after I retire next month. I'll be 65. Am I too old to start a business? -- Milton A. Coating Service Business Case Study There are many coating businesses in the market today, but have you ever asked yourself how one gets into this line of work? How they are formed or what prompts someone or some entrepreneur to go out and start a business to fill this niche? Well this is an interesting case study that shows how we became interested in this industry from a sub market of the coating business; Spray in Bed Liners. Our company is in the auto detailing business, www.detailguys.com and we often service auto dealerships. Our customers need service for spray in bed liners for the pick-up trucks they sell. So we looked around at all the possible Biz Op companies doing this and the franchises too. 5?4?3? 2...1? A streak dating back more than three decades came to an end at midnight on New Year's Eve. For the first time since 1972, as America rang in 2005, "America's Oldest Living Teenager" was not in Times Square to count down the dropping of the giant ball. The 75-year-old host of ABC's "New Year's Rockin' Eve" was in the hospital, recuperating from a stroke suffered a few weeks earlier. What Kind of Business Should I Start? It's not uncommon to reach your 30s, 40s or even 50s and still wonder, "What do I want to be when I grow up?" Few people are fortunate enough to be certain of their destinies early on and the rest of us are forced to do some soul searching. Protect Your ASSets in Business Many people are starting an online business without a thought about the danger this may pose to their personal assets. The type of protection you need depends upon the nature of your business and the amount of your personal assets. Business Is No Guarantee of Riches Q: I'm thinking about starting a business since that seems to be how most rich people get rich. I don't have any business experience or much money, but I'm a fast learner and have lots of energy. Any free advice? Peter J. Creativity & Entrepreneurship - Key Questions From My Students Hello Creative Entrepreneurs! Franchisor Sample Grand Opening Launch for New Franchised Outlets It is paramount that all franchising companies work hard in the critical launching of all franchises in their new territories. In this present period most franchisees come into the franchise systems with much personal debt and barely squeak by on their initial capital needed. One major error or mistake and the franchisee will fail due to under capitalization. Below it a sample outline and message to new franchisees; I recommend that you take a look at this and develop a policy and plan to help your new franchisees in the beginning gain ground on their new markets. You should copy this article and make notes on it and then take the outline below modify it to fit your business model and write several paragraphs for each number and lettered item to cement your new franchised outlet marketing plan. While reading this policy and outline below realize that it was written for a mobile car wash business and your plan will be significantly different but this will help you in making a first class strategy to win market share for your newest team members. The Ideal Length of Your Business Plan How long should a business plan be? A business plan needs to be whatever length is required to excite the investor, prove that management truly understands the market, and detail the execution strategy. From surveys of investor needs, Growthink has found that 15 to 25 pages of text is the optimum length in which to accomplish this. Any more and the time-constrained investor will be forced to skim certain sections of the plan, even if they are generally interested, which could lead them to miss essential elements. Any less and the investor will think that the business has not been fully thought through, or will simply not have enough information to make an investment decision. Innovation incubator: Build it and keep it running If your company is like the one I work for, your people are talking about the need for innovation. Mine has just announced a new program "that will bring a standardized approach to gathering and evaluating your ideas for generating new revenue and improving our business." An Innovation Team has just formed, with a new electronic mailbox and a contest offering cash prizes for the year's best ideas. Time Management Tips for Solo Entrepreneurs Does it seem like everyone and everything is vying for your attention all at once? It can be hard for solo entrepreneurs to know what to do first, let alone try to find the time to get caught up. Here are some time management tips that will help you to stay on top of it all: Top Ten Ways to Increase Your Profitability 1) Go back to basics. Take a couple of steps back and address the fundamental facts or principles of your business. Going back to basics can mean cleaning the slate and focusing on basic elements that create success. Fear of Failure Of all the real or perceived impediments to success, the biggest is the fear of failure. Certainly, there are often many other obstacles to overcome, but it is this one phantom that prevents most people from even attempting to create the success they imagine that they want. Start a Business Selling Government Surplus Did you ever wonder what happens to all that government equipment that is purchased each year by federal, state, and local governments? They don't just throw it away! By law, all unused and out-dated equipment must be sold back to the public at a public auction! That's right. Everything is available to you and I the American taxpayer. There are primarily two ways that the government does this: on- site auctions or online auctions. The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money This year more than 17 million people will become entrepreneurs, according to the National Association of Self Employed (NASE). By the end of the year, 8 million of them will return to the corporate world because their entrepreneurial effort did not succeed. Many will say the businesses failed because of insufficient capitalization. Actually under-capitalization is not the cause of failure, but a symptom of a far more serious problem. Be an Entrepreneur The Department of Labor predicts that the #1 employer in 2010 will be "self." A recent Internet poll of 25-44 year olds revealed that 90% of them hoped to own their own business. A survey conducted by Ernst & Young found that 75% of influential Americans believe that entrepreneurship will be the defining trend of the 21st century. Some of the factors that have attributed to the rise of the modern day entrepreneurial spirit are access to technology, a global economy, and corporate stagnation. What Makes a Person an Entrepreneur? Entrepreneurship is generally characterized by some type of innovation, a significant investment, and a strategy that values expansion. The entrepreneur is often quite different in mindset from a manager, who is generally charged with using existing resources to make an existing business run well. The roles of entrepreneur and manager are not necessarily incompatible, but entrepreneurs are seldom patient enough to be good managers. Outcomes - Thats What You Need to Focus On Successful business owners and managers need to be very clear about what outcomes they want. Whether you call them goals, objectives or targets, these are the factors that you're ultimately judged on. Outcomes determine whether your business is a success or a failure. Will Your Business Survive Without You? I had a health scare in December. Financial Issues in Business Startup A primary inhibitor of business start-up is that few people have the financial cushion to give up a job for the uncertain income of a start-up venture. In a recent survey, about 30% of new business founders identified inadequate funding as their biggest hurdle, and a similar amount said lenders were too conservative. About 15% reported being unable to find investors, and a similar amount claimed a lack of collateral.
|
| Category Home | Site Category Map |
| © 2005, 2006 Freeever Information |