Navigation: | Home | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |
Entrepreneurialism Information Click here for eBay Motors! Get 2 weeks FREE CA Anti-Virus 2007 Accept Credit Cards Get your FREE $250 Cash Card PhotoStamps

The Dirty Dozen


1) No Umbrella Business Plan or Strategy -- Without a plan, there's no serious way to gauge the growth and progress of your business. You need a realistic map for where the customers will come from and where your business is going. You also need a plan to bail you out when difficult personal and business times come your way. Solution - get a plan together. Stop thinking about it and do it.

2) Getting Tunnel Vision and Never Leaving the Tunnel -- Many entrepreneurs get an idea, move forward with the preparation but never seem to be able to make it work. In fact at times they will hold so tightly to the idea that they will lose all their money, sometimes their family and ultimately their business. The sad result is they often lose the one thing that pushed them to begin with - their confidence. Without the confidence the likelihood of another run at self-employment diminishes. If the ship is sinking don't go down with it. Get out while you are still able to breathe. Once you've caught your breath, re-evaluate, learn from the experience and dive back in. Solution - ask for some advice from other business people. Be honest with them and get some feedback. If you can afford it, hire a business coach.

3) **Make your business your business and your charity your charity.** Beginning entrepreneurs nearly always make the mistake of "giving away" the store. They give discounts to the first customers they receive as if to impress or court them. Often these customers are friends and family. Unfortunately, during these critical times an entrepreneur cannot afford to do this. He or she is only cultivating cheap clients that will never want to pay the going price for services or products. Additionally these are the times when cash flow is at a minimum. As a business consultant I often get bothered that friends and family fail to see this. The early years is when those close to you should be paying you more, not less for your product/service. Unfortunately, many people are under the false impression that if someone has their own business they must be wealthy. Solution - when conducting business charge your full rate to everyone. If you want to be charitable, write a check to your favorite charity. Or alternately be creative in how you handle these discounts.

For example, in my mobile entertainment business I told those I knew, that if they got married on a Thursday I'd do it for free however my Fridays and Saturdays are limited to just 52 times a year. If I don't get my rates on these days I pass up income that I need to sustain my home and business.

4) Not Knowing Your Customers -- We live in a dynamic world. Constant changes mean that business too is always changing and in some way, large or small, your customers are changing. There are countless examples where companies both large and small fail to see the publics changing direction. Changes in your customers' preferences and your competitors' products and services can leave you eating dust. You need to know your customers well. What are their buying patterns? Where do they live? How often do they visit you? Why don't they need you more often? What are they saying about your services or products? How do your customers perceive themselves? Solution - Make a point to call each customer on a regular schedule to see if there is anything they need or any improvements they see you can make.

5) Ignoring Your Financial Situation -- Whether you have a lot of money or a little, you need to know where you are at financially. Many entrepreneurs will turn a "blind eye" toward their financial situation. They will deny they are losing money and/or failing to get paid. It goes without saying, that entrepreneurs are typically more confident people with positive outlooks. This is not only their strength but at times it can be their weakness. When buying things for your business ask yourself, "will this make me more money or not?" If not, realize the need is really a want. Numbers don't lie, so don't find a way to make them lie. Solution - have a third party keep your "books" so you can get a true picture of where you are at financially.

6) Ignoring Employees -- Employees are an extension of your company. They represent you to the public -- for better or worse. They can make or break your business. It does not take a genius to figure out that if you fail to treat your employees with respect they will fail to treat your business with respect as well. After all they can't fire you but they sure can treat your clients in a manner that is far from beneficial to your business. Solution - incorporate a weekly meeting with your employee/s. Be sure to keep the meetings positive and welcoming for everyone.

7) Being the Lonely Martyr - Many entrepreneurs fall prey to their own picky, "control freak" problems. They never trust or let go responsibility in fear that it won't be as good. The truth is it probably won't be. The reality is however as an entrepreneur you are in business to make money. If you have employees then you need to use them to multiply your efforts as best you can. Solution - breathe, and again, breathe? now relax and resign to the fact you are not the global manager of the universe.

8) No Short or Long Range Plans -- You may have heard the old adage that if you fail to plan, you plan to fail. Whether it is a business goal or a personal goal you must lay out your plans with an end goal in sight. Otherwise, as Zig Ziglar says, you will be a wandering generality not a meaningful specific. Many entrepreneurs go into business without a long range plan on where they want the company to go. You must have goals and execute them. Solution - Make goals and strategies.

9) No Mastermind -- Find a businessperson you respect. One that has been in business for a long time and seek his or her advice when faced with tough decisions. Keep in mind you're still the ultimate decision maker, the one that has to live with the outcome. Be sure and weigh this opinion against your own thoughts too. Seek the wisdom that only years of experience can develop. Solution - get one, you'll be happy you did.

10) They Believe Their Own B.S. Need I say anymore? Solution - have a good friend or two tell you what it is you're not seeing. Preferably a friend with business experience. You see, friends often stay friends because they at some point accepted us for who we are despite our imperfections. "That's why they are our friends!"

11) Quitting -- Unfortunately many entrepreneurs quit just when things are ready to soar. This is often because their plan didn't account for certain setbacks or enough time to realistically incubate a business. They typically run out of cash and motivation gets whipped by frustration. Solution - Keep your Day Job until your business, your mindset and your finances are relatively stable.

12) Ill Equipped -- financially, educationally, resources etc. Solution - learn, learn, learn and save, save, save.

THE DIRTY DOZEN
The Top 12 Mistakes Entrepreneurs Make
Excerpt from the business planning audio and workbook program, "Lemonade Stand Simple", A Seven Step Program to Turn Your Business Idea Into a Money Maker.

Reprints are welcome with the tag below or approval by author T. Dan Nichols:

Author Dan Nichols is available by phone 248-541-0250 or email dnichols@isbempowerment.com for interviews and speaking engagements. To purchase the guaranteed business planning program visit the website at http://www.lemonadestandsimple.com. To receive regular streetwise business advice, email info@isbempowerment.com."Lemonade Stand Simple" is a Federal Trademark of P2E LLC, a Michigan Company. All works are copyrighted 2001-2005


MORE RESOURCES:
Business:Entrepreneurialism Articles from EzineArticles.com
03/12/2019 08:35 AM
Your Strategy Is Destined to Fail If You Don't Do This
Effective strategy can make the difference between success and failure of your business. At the very least, a poor strategy will undermine your company's earning and impact potential. The Purpose of Strategy Strategy: Sets priorities and establishes direction so you can respond to a changing environment Focuses the energy of your staff and other stakeholders (e.
03/08/2019 10:53 AM
What Is Standing Between You and The Life Of Your Dreams and Desires?
If you guessed--a problem, Notice I said "create" your dreams and desires versus focusing on a problem. When we focus on a problem or the problem... we find more problems. If we focus on a course of action... we are focusing on solutions. What is the best way to invent the light bulb? Edison didn't look at all his 'failures' he looked at what to do next to invent the light bulb.
03/06/2019 09:16 AM
Your Will or His Purpose
God blesses in several different ways, but His blessing solely depends on His purposes. Sometimes God's answer will match exactly what the person has requested, sometimes His reply is less than desired, and often God's answer dramatically exceeds our expectations.
03/04/2019 10:24 AM
The Scariest Thing I Ever Did Changed My Life Forever
Every day we are faced with big and small risks. The biggest risk I ever took shaped my entire future.
03/04/2019 09:26 AM
High Value Thinking Time Increases Your Income and Impact
As a busy CEO, you likely don't have a lot of time to sit and do nothing but think. But you should - here's why and how you can add more thinking time to your schedule.
02/25/2019 09:12 AM
Reimagine the Purpose of Your Business
Much has been written about your business' why, your purpose, your mission. All of those can be a very narrow viewpoint. You can have a much greater vision.
02/18/2019 09:05 AM
Ready for a High Impact Mindset Reset?
Your mindset, your thoughts, can buoy you and your business up or drag you down. The good news? As you practice these mindset boosters, the easier they become.
02/08/2019 12:20 PM
Highly Engaged Employees Increase Your Company's Impact
Engaged employees are willing to go the extra mile. Find out how you can encourage engagement within your impact-focused company.
01/25/2019 12:04 PM
Three Mistakes Entrepreneurs Make At The Outset
Many entrepreneurs make three crucial mistakes at the outset. They do not pay sufficient attention to customers' preferences; they ignore their competition because their product enamor them, and third, they neglect to follow their business strategy. Indeed, some have no strategy.
01/24/2019 09:52 AM
Try These Tips If You Want To Succeed In Affiliate Marketing
Affiliate marketing can be a great way to establish a good income with little or no overhead at all. Just a whole lot of honest hard work, dedication and of course, good information. This article is designed to provide you with some excellent advice on the business of affiliate marketing and help you find your way in and around it to a nice, consistent profit!
01/21/2019 11:07 AM
How Customers Are Using Their Money to Vote for Impact
Customers increasingly want their purchases to do more good in the world. Your commitment to impact can expand the number of customers you reach.
01/18/2019 04:48 PM
Helping You Better Understand Leadership With These Simple To Follow Tips
Having good leadership skills is important if you are in charge of one person or 500 people. Good communication, people skills and many other things are required of great leaders. If you do not have these skills already, it is time to learn. Use the tips below to become a more effective leader to your team.
01/18/2019 04:47 PM
Discover The Tips That Can Lead You To A Prosperous Affiliate Marketing Strategy
If it's affiliate marketing that you want to learn about then you have come to the right place. When it comes to affiliate marketing it's sometimes the little tips that you know that contributes to your success. Experts and newcomers alike can appreciate any and all tips that come there way, so dive in and digest these useful tips.
01/17/2019 02:33 PM
Reputation Management - How It Can Help Your Business Thrive
When you are trying to maintain a positive business image, you're going to encounter a ton of obstacles. You might know quite a bit about business reputation management, but you can never be too prepared. So continue reading in order to find out some great techniques you can use to help make sure your business continues to thrive.
01/17/2019 02:33 PM
Take Charge Of Your Life With These Top Leadership Tips
The unique assemblage of traits and qualities that comprise a truly great leader can sometimes prove quite mysterious and elusive. To really grasp what effective leadership entails, it is important to acquire a thorough education on its principles and truths. The material below should provide a strong basis for any study of the topic of leadership.
01/07/2019 12:55 PM
A Simple and Powerful Tool for High-Impact Achievement in 2019
Year-end planning helps define your 'what'. To be inspired in your aspirations, here's a tool to help define your 'how'.
12/26/2018 01:27 PM
Here's Why Your Strategy's Not Working As Well As It Could
Conventional strategic planning techniques only go so far. They're missing an important ingredient that materially affects your business' success.
12/18/2018 12:57 PM
Don't Snuggle Up to Your Self-Doubt
You might believe that those high profile people you admire always know what to do. Nothing could be further from the truth.
12/10/2018 10:55 AM
Stop Managing Your Time and Do This Instead
Busy as you are, you may still not feel that you're using your time well. Time management systems don't address this fundamental issue. This article does.
11/19/2018 02:50 PM
You Could Be Sabotaging The Long-Term Success of Your Own Business
You could be close to that next-level growth in your business, but seem to be hitting a brick wall. Don't make the mistake of overlooking the obvious in search of the spectacular. The key to unlocking the future of your business may be just one degree away. This article helps you identify a common behavior that can hinder you from long-term growth.
11/12/2018 12:16 PM
Armor Up: What's Holding You Back As a Leader
I always thought that it was fear that holds us back from being the leaders we want to be: bold, courageous, inspiring. Research has found otherwise.
11/09/2018 02:05 PM
Top 10 Questions You MUST Ask an Event Planner Before Your Next Speaking Gig
Last week we started talking about getting started as a professional speaker, and some tips to give your business a boost. One of the key points is to be polished, professional and at ease, in any situation - the best way to do this is to be prepared - for everything.
11/09/2018 09:54 AM
How to Make Sure Your Goals Are High Impact
Make your goal setting a high ROI activity by using the IMPACTOR Goals model. It will ensure that your goals will get you where you want to go, with high impact.
10/22/2018 09:41 AM
Stop Arguing for Your (and Your Company's) Limitations
Your choices are very powerful. When you make choices that are world-class, you'll get world-class results. Mediocre choices?
10/10/2018 05:51 PM
11 Ways Investing in Impact Helps Your Business
Impact is where you and your business meet the world and make it a better place. Here are 11 reasons why investing in impact helps your business.
09/24/2018 10:08 AM
How to Lead Change in Your Business Like a Boss
Change in your business is essential. Navigating it is challenging and can be bewildering. Here are 10 ways to work change like a boss.
09/20/2018 01:09 PM
Find Your Success Sweet Spot!
Most people don't show anyone their scars and bruises or share their "up to their eyeballs in the dirty stuff", real and RAW stories of what the journey to success is sometimes like. They usually reveal the rainbows and glitz of it instead. The pretty and SHINY version. When only the SHINY and glammed-up version, smelling like roses is revealed it seems off and PHONEY, like they're disingenuous or hiding something.
09/17/2018 11:12 AM
5 Business Lessons I Learned From My Mom
You're surrounded by people with gifts to give. My mom's way of being in her prime has been valuable for me in my businesses. From my mom to me to you.
09/10/2018 01:33 PM
How to Go From Overwhelmed to Productive
Overwhelm can really slow you down in your business. Here are 3 strategies to help guide you out of overwhelm territory.
09/05/2018 12:49 PM
Why Are New Entrepreneurs Only Able to Copy Other Businesses - Little or No Original Thinking?
As a former franchisor of an original concept, I always assumed that all entrepreneurs were like me, deep thinkers finding new niches in the market place to exploit with their original solutions. Today, what seems to pass for "entrepreneurship" is much different. It's like everyone who starts a business is considered an entrepreneur? Mostly, what I see is everyone copying everyone else. What's worse many of these new business owners think themselves so damn clever as they do. Seriously, the situation is out-of-control, so pervasive it's now the norm, almost as if it is considered acceptable - Why?
08/27/2018 11:28 AM
10 Profound Insights From Impactful Entrepreneurs
Wouldn't you love to have people like Seth Godin, Marianne Williamson, and Prince Ea give you advice about your impact? You can in these nuggets from the Work Alchemy podcast.
08/22/2018 02:45 PM
Whose Mind Is It Anyway?
I recently read a gem of a book by Lisa and Franco Esile called Whose Mind Is It Anyway? Get Out of Your Head and Into Your Life. It was a quick read - under an hour.
08/17/2018 12:22 PM
White Papers Win Customers!
Are you getting the sales you want? White papers might be just what you need to tell your story in a way that your ideal customers will "get.".
08/17/2018 11:40 AM
Virtual Mastermind Programs - Benefits of Beta Testing
Creating virtual mastermind programs is a great way to take your business to the next level. The challenge in creating programs for most entrepreneurs is knowledge, time, and money. It's a shame because your message could have a profound, positive effect on the audience you want to attract. Beta testing new programs can literally mean the difference between success and failure.
07/30/2018 04:45 PM
The Wealth Creation Formula - Creating Income
Income is your key to wealth. Creating income shouldbe your ost important task as an entrepreneur. Income is the first step in the wealth creation formula.
07/28/2018 07:43 PM
How Being a Disruptor Can Serve Your Business and the World
Disruption is always bad, right? Maybe not. It may be worth it for your business to be a nexus of disruption, opening new markets and new opportunities.
07/25/2018 04:17 PM
How To Make A Small Business Grow
There's more than one way to grow a business. Even though acquiring customers is necessary, you can also build your business by offering more for your existing customers, changing your pricing and payment structure and building your reputation to align with a premium pricing brand.
07/25/2018 08:17 AM
Entrepreneurial Mind Frame
The entrepreneurial mindset is different to that of the average person. Entrepreneurs need to be focused on their goals and driven to succeed in their chosen field. Whether an entrepreneur is successful or not, depends on their resilience and their reasons for setting out on their journey in the first place. Having a strong purpose is key to sustaining the effort needed over the long term to succeed.
07/23/2018 02:22 PM
The Seven Pillars To A Wildly Successful Business
Starting your own business is like climbing a ladder, one step at a time. When I first started my own business, it wasn't easy. But after much trial and error, and learning from other's successes, I realized there are 7 basic principles or pillars toward achieving a successful business.
07/23/2018 10:42 AM
Know The 4 Crucial Steps Of Starting A Mobile Wireless Business
The challenges of starting a mobile wireless business are profound, but there are steps that if followed sincerely could make the road ahead smoother. So, let us have a look at the four crucial steps.
07/09/2018 03:55 PM
A Handshake Is Still the Best Agreement - But, a Signed One Stands a Better Chance in Court
Once upon a time, the handshake was a celebrated moment in an agreement where two or more people joined together to pursue a goal for individual and mutual benefit. Not only did this gesture memorialize a unified front between the parties, but also the event signified the volunteered promise of honor and integrity that the value of a word and the physical exclamation point at the end of the sentence suggested. This simple act galvanized an agreement that was greater than anything in this world. It meant that the full faith and trust of the parties were bound by the singularly most important possession one held: the honor of personal namesake and the engaged the word, honor, and trust that was expressed, implied, and promised. Such a simple activity sealed a party's word to his forthcoming actions and those actions would be trustworthy. It did not need to be proven or backed by paper that showed that the person - in fact - agreed and promised. The person's name was the guarantee and once upon a time, that meant something to people.
07/05/2018 08:42 AM
Starting a Pet Sitting Business? Here Are Some Effective Tips to Run a Successful One
As the demand for pet sitters is increasing day by day, the pet sitting business has become one of the biggest and rewarding career choices among large audiences. Do you love pets? Thinking about what business you should start?
07/02/2018 09:15 AM
How To Tell If Someone Is An Entrepreneur
Most people talk, few people do. If you want to spot an "entrepreneur", look at how they *do* things. If they're a stickler for the rules, and basically just want to please people - they're not an entrepreneur. If they are religiously self determined, they're an entrepreneur. Obviously, other facets apply - but that's pretty much the core of it.
06/30/2018 08:14 PM
Are You Living Your Fears or Your Dreams?
Are your fears running the show in your business? They don't have to. You can use vulnerability to tap into your dreams instead.
06/28/2018 10:14 AM
Victim Of Downsizing? Me Too, Maybe It's Time For This
If you're like me then you already know that losing your employment due to company or corporate downsizing can be devastating! Four years ago it happened to me. I was a service technician for a company that supplied specialized equipment to the automotive industry. I was making $100,000 dollars + a year, it was physical and hard work a lot of the times but then any thing worth while takes work.
06/26/2018 08:40 AM
The Millionaire Booklet: Becoming Super Rich
The Middle Class is Dead. Millionaire is the new middle class. The only way to survive is to become super rich. Check out these 8 steps by Grant Cardone from the Millionaire Playbook.
06/19/2018 11:11 AM
How to Get Your Private Label Cosmetic Brand Started - 5 Essential Steps to Success
Interested in starting your own private label cosmetic brand? Here are the 5 essential steps to creating and selling your product or product line.
06/14/2018 11:38 AM
Interested In Starting Your Own Business? This Is For You!
If you are thinking about starting a business, you have come to the right place. This article aims to provide you with information concerning this.
06/11/2018 03:55 PM
Work Vs Play
Many life coaches think that marketing is too much work. Here are some ideas on how to make your marketing (work) into fun (play.
06/07/2018 10:41 AM
How to Guarantee Better Risk Management Along the Lines of ISO 31000
There is no big surprise that dangers are unavoidable in each project. The way an association endeavors to alleviate or take out the component of risk; that might be common or synthetic; decides its extension for quality management. In this regard, the International Organization for Standardization (ISO) has set down unequivocal rules for all associations as respects proficient risk management, under the benchmark ISO 31000. Recently, ISO has propelled the refreshed variant of this ISO certification in February 2018, the ISO 31000:2018.


home | site map |