Category: Entrepreneurialism

Follow 80-20 rule.

20% of the work produces 80% of the result. That is the sole pretext on which the rule works. When it comes to employees who hold designations like that of managers, it helps them allocate resources depending upon the importance of a task. Entrepreneur on the other hand, must understand that if he or she is operates in the buying and selling space, then bulk purchases will always provide more revenue than individual sales. Thus, focusing on those bulk buyers will produce better results for his business.

Both employees and entrepreneurs must concentrate their energy on restricted and dedicated activities which can then boost productivity and yield better results.

Have a healthy routine

If you look at some of the top entrepreneurs of the world, all of them have a certain healthy habit which keeps their minds and bodies from giving up and becoming unproductive. Padamsree Warrior, Chief Technical and Strategy Office, Cisco Systems meditates every night and spends her Saturday’s doing a “Digital Detox”.

Healthy routine does not only involve eating healthy but also disconnecting from one’s gadget filled work life. Spending time relaxing your brain is important. Its recovery is vital unless you wish to … Read the rest

Ideas after ideas constantly flow in and out of our mind, but the confidence to pursue those ideas doesn’t always stay with you. For those that manage to grab a hold of their confidence, will also snatch one or more of those ideas and begin to weave them into a plan to build a business.

Entrepreneur minded people can never be happy with a nine to five job. Their minds will always seek to fulfill what their heart craves. For some, the urgency to make money will be their driver, for others it is their passion to create that will propel them into action. Unfortunately, for a great many, the soul will want what the soul wants, but doesn’t always know how to deliver. So their dream will end before it ever begins.

Once the realization of this sets in, so will their level of frustration. So that this doesn’t become your reality, you will need to make a real concerted effort to go after your dream. That will mean stepping out on faith!

In order to make it happen, you will need to throw a lasso around your confidence, pluck your ideas from your head and begin to create … Read the rest

The provisions were there, the signs were there, but Burk and Wills did not understand what the signs meant and so they died a horrible death from thirst and starvation.

In business, entrepreneurs are like explorers. Lewis and Clark were successful. They survived. Burk and Wills were not. They died. Who do you want to be like?

This same tragedy gets repeated with businesses today. The way to survive it there, but business owners fail to read the signs. Those signs are called key performance indicators, or KPI’s. If you are not measuring you are not managing. Make sure that you are measuring right things the right way.

For example, if a customer is worth $10,000 a year and average lifecycle is 5 years, then they are worth $50,000. So if it costs $1,000 to get a new customer and $200 per year to retain them it is a great deal. There are several KPI’s here. Cost of acquiring a customer, cost of keeping the customer, sales value of the customer per year, lifecycle of the customer. And notice that it costs 5 times to win a new customer verses keeping a customer.

What are the activities that must take … Read the rest

No one could be a better natural candidate for an entrepreneurial life style than Steve Christensen. Steve is a close friend of mine that I have known for the majority of my life. If you had the chance to sit down and talk with him, you would recognize immediately that he is not a conventional thinker. A natural risk taker in every aspect of his life, he is a fanatic of extreme sports because of their emphasis on continual progression. His mind has been and forever will be focused on the possibilities of the future. Steve has a shaved head, with fiery blue eyes that ooze confidence. When he talks to you, he will look you straight in the eye for the entire conversation, showing that this is who he is and there is nothing for him to hide. He has the fabled ‘Silver Tongue’, which is the ability to win you over with his charisma in seconds.

Steve is willing to admit that he never thought that one day he would be CEO of his own watch company. Two years ago he was studying at the University of Baltimore, planning on getting into the corporate world of real estate. … Read the rest

A Mid Day Gratitude List

Is your day feeling tough, write out a gratitude list. Sitting around feeling grumpy about situations you may not be able to change immediately, is not doing you any favours. Instead, take a moment to review things you can be grateful for.

Initiate Forgiveness By Searching For The Good

Is there someone in your life who has offended you? And can you not shake the feeling that you have been treated badly wrong? If you want to be free, spend time thinking about reasons to be grateful for, or even TO, this person. It may take some doing to get your mind to a place where it is willing to accept that there are things you can be thankful for, however forgiveness is really about your freedom. I know you have heard that before but it is true. If you want to be free enough to create a life and a business that you adore then learn how to quickly forgive.

Use Words of Gratitude, rather than Criticism

It is tempting to think that criticism will always get better results than gratitude but you would be wrong. Humans being react better to more positive words … Read the rest

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• Get Ride Of Your Addiction To The Outcome:
  This is probably the most important mindset change you can make. It doesn’t matter what kind of business strategy you are using, when you are no longer dependent on the outcome, you can become more positive. This gives you the appearance of a leader in the eyes of your prospects and is exactly what other people are looking for.
• Actively Work On Your MindSet:
  How you do this is personal to you. You may find it by reading or listening to motivational books, meditating, yoga or exercise. Maybe you feel more positive when you talk to certain people in your life on a regular basis, or it may be a combination of many things. Whatever helps you remain positive, do it on a consistent, regular basis. This is something every successful leader works on all the time.
• Stop Comparing:
  Most everyone is guilty of this. Remember that everyone starts from the beginning. Every successful person goes through their own struggles. If you compare yourself with others, it will hold you back.
• Keep Focused On Who You Want To Become:
  This is slightly different from your why. Keep doing the daily activities that

… Read the rest

They go on to tell me how excited they were when they first started because there were finally so many options. They could do it any way they wanted to.

You’re probably thinking, well that was the point, wasn’t it?

It’s shortly after they find themselves in that place of freedom things start to get strange.

I was speaking with a client of mine; he was incredibly frustrated because his business was not growing and he wasn’t finding any clients. His marketing and messaging were all over the place. He wasn’t enjoying himself or his business. He was concerned that what he was doing was not sustainable and he’d have to get a job.

I asked him what direction he wanted to go in, and he shared ten different ideas that all appealed to him. He wasn’t sure which made the most sense.

He had gone into his own business for control and yet, here he was in a position of power, in the exact spot he wanted to be in, and was unwilling to be his own boss, to take control, to do the very thing he wanted to do.

So what’s happening?

Starting your own business is very … Read the rest

• Find a problem and solve it. Like your customer’s needs and wants, they also have problems. If your company can solve that problem, they you will probably succeed. It’s linked very closely to their needs. For example, a customer needs more money. The problem is a lack of money. Your financial education system will fill that need and solve that problem! If a customer needs more time, the problem is a lack of time. Your time management system will fill that need.
• Focus on the customer. How many companies have fallen away from this one? And how many are starting to fall away? Very recent surveys have shown that customer service is the most important part of a business. Without a customer-focused program, the company will likely get a bad image, and lose customers, and it will likely have some financial setbacks… You get the idea. Without customers, the company can not even stay open, let alone do anything.
• Put your time, talent, energy, and your whole heart into producing a product or service they will buy. If you do not already have an established company, of even if you do, you must always remember to invest into the business.

… Read the rest