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Entrepreneurship

Top Tips for Beginner Entrepreneurs

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Entrepreneur at heart

Starting your own business is hard work, and even harder when you’re a complete newbie. Luckily, there are a few ways to make the transition from employee to the entrepreneur as simple as possible.

As a beginner entrepreneur, you’re probably overwhelmed by all the information out there, and you might not even be sure what you’re best at. Don’t fret — there are lots of ways to make money, and you’ve got great ideas that you should pursue.

You just need to find the right niche for you, so you can feel more confident in your decision. Today, the online world has opened up so many opportunities for entrepreneurs: with the right tools and a little bit of time, you can make your business your own.

Start a business about your passion

If you want to quit your job and turn it into your own business, start a business that speaks to your values. Spend some time thinking about what your dream business would look like. What do you love? What would you be the most passionate about? You have to research, learn and develop your own set of skills before you can create an awesome business and compete with the rest.

Don’t worry if you don’t have an exact idea; you can start from scratch. Set sometime aside each day to think about your idea and develop it. What can you learn about the topic? Do some research, and take some action steps toward making your idea a reality. After you’ve honed in on your passion, narrow it down.

Pick your subject matter and map out an outline of your business plan. Set clear goals and milestones, as well as expected revenue and expenses. This will help you stay focused on the goals that are most important to you.

You can work with plants

Do you enjoy the outdoors? Try the gardening or landscape business! Are you passionate about animals and want to provide shelter for them? Offer pet sitting or grooming. Do you have any common talents like cooking or crafts? There are tons of ways to profit from the talents you have.

Do research, find your target audience

The first thing you should do when starting your own business is to do research. There are many online resources out there that can help you find the right people to buy your products or services. Search the web to find the kinds of people who would be interested in your product or service, and make sure that you target them specifically.

Don’t just see all customers as a win, though; you need to target a niche. Figure out your price points While research will help you find your target audience, you can also use online price research to set your price point. You might have thought that you need to sell your products at a profit, but you can actually price them relatively low and still have a lot of success.

Do you love tinkering and coming up with gadgets to improve the lives of others? Get an idea for a gadget that’s the best option for someone, and put it together! You might end up making a difference in someone’s life, while at the same time earning some extra cash. These are the kind of big purchases that you should be willing to spend a little extra money on.

Find the people who have this need, and get in touch. Don’t spend too much time worrying about whether they are going to buy it. A great business idea is often the best kind, especially if you come up with something for a different crowd. Don’t be afraid to spend the extra money and take a gamble.

Decide on the niche that you want to enter

When you’re a beginner, your skillset may not be very well-rounded. You might not have a huge skillset, so it’s important to decide on your “niche” early. What skills are you good at? What jobs do you love? What are you passionate about? Your ideal niche can be difficult to pin down.

You can be a mechanic

As a newbie, you might have your sights set on starting a side hustle, or a full-time business. Either way, it’s important that you decide on a specific niche for your new business. Your aim is to make a full-time income, so you need to know that it’s going to be lucrative.

You might have an idea, but it might not work out so well in practice. There are plenty of successful businesses that started out in a small way, so don’t give up before you even give it a shot. Find a way to make money online. If you don’t have a specific way to make money, you can do lots of side jobs and start your business with what’s already in your possession. If you’re a photographer, you can post pictures for local businesses for example.

Have a business plan ready

All great business plans begin with a solid vision of what you want your business to become. For you, that might mean becoming the go-to place for everything to do with lingerie, or maybe you’d like to work with celebrities to help develop their looks and opinions about the beauty industry.

By having a clear picture of what you want to achieve, you can work out the best way to reach those goals, and it’ll help your team grow as well. Create a structure In order to establish what you want your business to look like, you need a proper framework.

For instance, you might be interested in becoming an SEO expert in the future. You might have experience writing blog posts, creating blog posts, running blog contests, and creating Facebook ads.

You need to lay out the finances beforehand. How much setting up your business will cost? What are the monthly running costs? Have a plan in the event of absolutely no sales. Can you survive the first couple of slow months until your business really starts going? Make sure you have a plan for all of these questions.

Have a Business Plan

Conclusion

There are a few ways to make the transition from employee to the entrepreneur as simple as possible. Set clear goals and milestones, as well as expected revenue and expenses. Research, find your target audience, and find your price point. Figure out your price points to find the right niche for you, so you can feel more confident in your decision. A great business idea is often the best, especially if you come up with an idea that’s the best for someone’s life, while at the same time earning extra cash.

Entrepreneurship

10 Tips for successful outtasking/outsourcing

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Arrange From Home

Here I will bring you a tale from the old days of the internet. I admit this has happened a while ago, however to me it’s still relevant. I’ve learned a lot from these mistakes and missteps.

Outsourcing/Outtasking Will Help Starting

When you begin to create your own products you may find it useful to outtask certain tasks. Before we continue though let me make the distinction between outsourcing and outtasking. Outsourcing is a process-related function and differs from outtasking which is a project-related function.

For instance, you may outtask the development of a home-study course or a piece of software but you may outsource support for those products or call center operations.

Outtasking can have many benefits. Outtasking can also be costly and result in unfinished or poorly developed products that are of little commercial value.

Oursource

Got To Be Specific

I learned the hard way about outtasking. One of the first outtask projects I had developed for me was a piece of eCommerce software that I considered a landing page system. At the time I was unaware of my competitor. If I had been, I would have written the project specs for a clone of their website.

Anyhow, the first developers I chose to work on the project quoted me a price of $800. It’s been a while now but I think I paid half upfront and the rest on completion. They said they could have the project done in two weeks. 

Months later my Eastern European developers delivered something completely amateurish and unsuitable for commercial use. They basically took bits and pieces of other applications and haphazardly married them together into one poorly performing app.

I admit I didn’t give the first developers the clearest instructions for what I wanted. This is a warning to you. Aside from choosing a qualified outtask partner, you must have a very specific plan. Take the time to plan out everything in as much detail as possible. This will save you time and money.

Let’s Try Again

Make sure the outtask partner understands your native tongue very well. I would even say setup a phone interview with them and probe them about what their role is etc…

For instance, the person who you are speaking to could just be an account rep whose only task is to deal with you. That is fine if they have a tightly managed team and very good skills in communication and translation and can convey your messages very specifically to the team.

On my second go-around with this project which cost me several more months and around $1400, I encountered the above situation. Yes, my contact spoke English but she had limited technical knowledge and was mainly more of a salesperson.

The developers who were actually doing the work were in various parts of the world including India, Pakistan, Iran, and Brazil. She would pass the information along to them and I would receive queries in return that were in such poor English I had to guess their meaning.

Can Be Frustrating

Third Time Is The Charm

My landing page project is on the third go-around now and things are going smoother.  I have outsourced other projects since and have learned many things that I will share here:

  • Make sure that you have very clear specific details written up about your project, including a timeline and deliverables.
  • Set your payment terms to pay the project in stages upon completion of milestones.
  • Always interview prospective candidates. Several times if necessary. No exceptions. If you don’t know the right questions to ask pay someone else a few dollars to write you a questionnaire of what to ask potential outtaskers.
  • Ask for the telephone numbers and email addresses of three (or more) references.  If you only have email addresses, email the references and ask if you can call and speak with them.
  • Don’t be afraid to abandon the project if the outtasker isn’t living up to their end of the deal.
  • Don’t throw good money after bad, because the truth is that if you are having communications problems early-on they probably will get worse.
  • On places like UpWork, Fiverr, and Guru don’t judge candidates solely by their feedback numbers. Make sure the feedback is for relevant projects.  For instance, if you are developing a complex piece of software you don’t want it being done by a graphic designer who is a part-time programmer.
  • If an outtasker provides you with samples of their work make sure that they also provide email addresses of people who can verify the person’s work.
  • Do an internet search for the outtasker’s username, company, instant message name, or email address and look for any negative comments.
  • Choose an established business over an individual if at all possible.
  • Take your time when choosing. Ensure that the outtasker has actually read your job posting. Make it very explicit and hide a word or phrase down towards the bottom paragraph that they must reference in order to be considered.
  • If you are having programming done make sure the programmers or developers comment on the code. This will be a huge benefit for anyone else who has to work on the project
  • If you have the resources you may consider having multiple teams work on the same project independently. This is a good way to become more experienced in choosing outtask partners. You will learn what you like and dislike about the various teams.  This sounds very costly but based on my experience it is still possible to have software created at considerably less cost by three teams elsewhere than to have it created by one team here in the states

We could really keep going on this topic but you get the idea. Do your homework, have a solid plan, and your chances of hiring successful outtaskers will increase.

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Entrepreneurship

Getting Things Done – Entrepreneur’s Success Journal

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Sometimes it’s just hard to get things done. Especially when there is no one there to poke or prod us into doing them. We know we should do them but we are either too busy, too tired, or too full of excuses to do them.

Your 9-to-5 Will Still Take Up Most Of Your Time

I know for myself difficulty in getting things done is usually a combination of lack of free time, tiredness, and excuse. My day-job as a high-ranking office worker can be stressful and tiresome mentally.

I have employees to deal with, clients to deal with, multiple projects, and tight deadlines to deal with.  Add to that, I also teach a couple of evening classes at the community college. I know that exercise is a big part of maintaining good health so I try to get out and run 5 or 6 miles each day and squeeze a few minutes in at the gym too.

Home, At Last

When I get home in the evenings, I know that I need to take steps to grow my business. If I don’t do it, no one will. Yes, I have hired people from Elance and Odesk to take care of certain administrative tasks but at this point, I still need the strategic vision and leadership to drive their efforts.

In order to get things done when I do have free time, I like to use what I call burst-blasts. Burst-blasts are high-intensity task blasting sessions aimed at moving me closer to a goal.  During task-blasting time I focus on one task only. I do not multi-task. I make every effort to avoid any distractions that will prevent me from completing the task at hand; that means no unrelated phone calls, emails, chats, or anything else that is not mission-critical.

If you aren’t doing this now, I highly recommend you do. You will be amazed at what you can accomplish in a short amount of time. Even if you can only find time for one hour a day. One hour burst-blasts work wonders for your business like 10-minute abs works wonders on your belly.

Organize

Of course, you can’t task-blast your way to success without knowing what tasks to tackle.  This can be a task in itself. I used to keep everything in my head. But after reading several personal development books I made a break with my old habit and started writing things down.  If you aren’t doing this already go ahead and give it a try.

Sit down right now, tune everyone and everything out. Spend the next 15 minutes thinking about the tasks you will need to complete to move you closer to your goals.  If you do not have any goals then add goal setting to the list as one of the tasks you need to accomplish. Write down 5 tasks you will do in the next week.

A few hours from now either in the morning or in the afternoon spend 5 minutes writing out a list of not more than 4 important tasks that you can achieve with task-blasting. Don’t worry if you don’t get them all finished. But make sure you at least finish the first and most important task on your list. If you fail to accomplish all of the tasks on your list, and you can, carry them over to the next day’s list in the order is most important. If something more important than the previous day’s task needs to be done go ahead and do that and commute the remaining items to the next task list etc…

Know What’s Important

Writing things down is important. You don’t have to write everything down but you should write down the most important things. Doing so commits you more to accomplish what is important. I have a set of short-term and long-term goals that I refer to occasionally. However, for the most part my task-blasting consists of tasks that can be blasted through in a few hours. These can get me closer to the goals. Writing out daily tasks and completing them keeps the larger more obscure goals fresh in my mind and moves me closer to them through action.

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Entrepreneurship

Skills that are Behind a Successful Business

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In society, entrepreneurs and businessmen are not only the wealthiest but also persons with incongruent dexterity. They prefer policies that demonstrate common sense and financial acumen. Behind every successful business, there is a big leader. Almost all leaders have prowess that is unique in them. These qualities could be learned if someone wants to be a successful businessman.

Determination and Patience

The most key thing that is required for being prosperous in business is firm determination. A businessman remains fully determined in his aim, ignoring the problems. He keeps his eyes on the end goal. He never loses his temperament with little problems but remains steadfast and achieves his aim. By chance if he fails he never becomes unhappy instead shows avidness and patience. He has no fear in his life. If he has decided to do a task he would do it at any cost.

Keep Working

Confidence

The second vital thing behind a moneyed business is confidence. A businessman has full confidence in his efforts and never deviates from his path rather work on it confidently. If people discourage him he remains enthusiastic and faces the hardships. He considers hardships a key to success. This confidence leads him to his wealthy life.

Decisiveness and Innovation

Another very important thing that is a quality of a successful businessman is decisiveness. A businessman understands a situation instantly and very quick in making a decision. He gathers a small council before meeting and listens to the opinions of people. He does not hear the opinion because it’s a democracy but rather for innovations. He tries to innovate new method that is unique in their effectiveness and fit for their business. This amalgam of decisiveness and innovations is vital for a successful business.

Learn from Others

A businessman does not consider himself the ultimate thing. He always learns from his surroundings. People consider that a businessman has prided his business but in-fact he is not. He learns from each and everything does not from where the knowledge. He even learns from his business foes. For some reason, if he fails, he never becomes angry and tries to learn from his failure. This quality is rare and those who adopt it are successful businessmen.

Great Idea

Open-mindedness

Another very important skill for being successful in business is open-mindedness. A successful businessman renovates his mind and removes narrow thinking. He thinks above the roof and turret of his business and changes his strategy according to the situation. He does things that are best for business and his customers. He sometimes bows himself to the right decision and sacrifices his self-esteem only for business. This quality is very tough to build in but when a businessman achieves it nobody could stop him.

Although they are many more qualities that are required for wealthy business these are an essential one. These qualities are very uncommon and require time to learn. These are present in every successful entrepreneur and businessman but unique in their way. If a person remains resilient to improve his qualities one day he will be a successful businessman.

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