Curb Your Enthusiasm
Isn't enthusiasm a good thing? Aren't we urged to be enthusiastic
about what we do? To be committed?
Bring That Difference To Your Business!
Romans had a phrase for this- First among Equals.
Franchises - Emotional Fulfillment - The Challenge
Does A Franchise Meet Your Needs?
Why Every Student Should Start a Business
With the economic downturn, students in all the major business schools have been dropping out of their entrepreneurship classes and transferring back to classes where they think they have a secure future. Students and professionals who were once planning to start businesses now have decided to go back to their cushy jobs. Everything is going back to normal. Or at least that is how it looks. Below are nine reasons why any student should start a business:You gain experience. Owning and running your own business is an incredible way to gain experience and credentials regardless of whether you decide to stay in business once you graduate. Jaime Gonzalez of Oklahoma State University received the highest job offer in his entire graduating class. Now, there are two kickers: First, he was the founder of an IT consulting company, and second, he had a 2.4 GPA. Hmmm...I wonder if starting a business helps in getting a better job when you graduate?
You have nothing to lose. I think it's safe to say that most students dip into their parents' checkbook when it comes time to pay the bills. In general, students aren't paying child support, rent, utilities and many other expenses. The worst thing that could happen if your business fails is that you get a job, have an incredible credential on your resume, and have experience that will increase your chances of success in the future. The best thing that can happen is that you'll become the next Microsoft. I don't know about you, but I think that is better than choosing between no job and jobs that you're in just for the money.
Two-thirds of millionaires are entrepreneurs, according to Thomas Stanley and William Dank, authors of The Millionaire Mind. If it's the money you want, then consider entrepreneurship. You receive not only a salary, but also a lot of money if you're lucky enough to sell your company or take it public. Michael Furdyk, a successful young entrepreneur, was able to sell his business, MyDesktop.com, for $1 million when he was 16 years old!
You develop networking skills. You've likely heard that your network increases your net worth. Consider the fact that by running a business and constantly being in a business community, you will develop excellent contacts. If you choose to get a job after you graduate, you will have a great pool of people who will be more than happy to hire you or send your resume to somebody who wants to.
You increase your value. Put simply, starting a business in college increases the value of "the brand called you" and gives you more options. For example, an entrepreneur with a large brand value can publish a book, star in a documentary movie (i.e., Startup.com), or go straight to the top of another company. I recently met one of the founders of Diversity Planet, a job site for minorities. He spent a year working very hard on the company and has since left to take a reporting job with Dateline NBC at the ripe age of 20! People don't often don't get an opportunity like that until they are much older.
Operating a profitable business in the long term is less risky than being an employee in the long term. For example, just look at the recent economic downturn. Tens of thousands of people have been laid off. I can guarantee the owners of profitable businesses are still with the business. They will be the last people to go down with a ship. Business owners can have multiple streams of incomes from different customers. If you're an employee, you only have one stream of income and therefore are bearing more risk.
You will learn more about yourself and what they don't teach or prepare you for in school. Furthermore, entrepreneurship is the combination of all the disciplines of business. It includes knowledge of marketing, accounting, management and operations. Already having knowledge of these topics before you take classes on them allows you to see more clearly how everything applies. Also, you will be able to learn early-on what subjects you like so you can make better decisions on what to major in and what industries to target.
It is yours. You make the rules, create your own hours, work from wherever you want and choose who you want to work with. You can also pick what interests you the most in the world and then start a business that is related to that topic in some way. If you like art, you can start a design business. If you like marketing, you can create or choose a product and then market it. If you like writing, you can write a book and do your own public relations and marketing. If you like the Internet, you can start a Web development business.
You'll grow. I personally have grown a lot from owning a business. I used to be terrified to speak in front of others. Now I look forward to it. Before owning a business, I had probably read a total of five books outside of school, and I only read them because my mom made me. Since starting my business, I've probably read more than 100 books. The business has also allowed me to learn more about myself. I know that I will be an entrepreneur forever in some way, shape or form!
Use Your Youth To Your Advantage
You should wait until you're older and have more business and real-world experience before starting a business. You should just focus on school for now. Nobody will take you seriously at this age.
Starting a Company on a Shoe-String Budget
A lot of people never start businesses because they believe they don't have enough money to do so. Unfortunately, these same people don't realize that many of the world's most successful companies were started on a shoe-string budget by an entrepreneur with limited resources. Below is a list of tips to help you save money when you're first starting a company: Manage your finances in MS Excel, not Quickbooks.
Manage your contacts in MS Outlook, not ACT.
Get free legal and accounting advice from law/business students or lawyers/accountants who are willing to do pro-bono (free) work.
Look for and join organizations that support youth entrepreneurs and small business owners.
Hire unpaid interns and make their job exciting.
Partner with somebody instead of paying them.
Use credit cards.
Get free, professional advice from SCORE, Teachers, and Professors.
Get investments from family and friends.
Find organizations who incubate startup companies or companies who might have office space that might be willing to let an aspiring entrepreneur use it. Perhaps, your school will let you use their copy machines and phone lines.
Swap services with a company instead of paying them.
Learn how to do graphic design and web design yourself. If you have these two skills, the startup costs of every business you have in the future will be dramatically reduced.
Surviving the Three Pitfalls of Business Ownership
While this idyllic life might be the reality for some entrepreneurs, it certainly isn't guaranteed. In reality, every entrepreneur has a unique experience depending on their decisions and plain, old luck. And while good luck may be hard to control, making good decisions isn't.
Executive Suites - A Way To Save Cash
Cash is one of the most important resources to a new business. One of the best ways to conserve cash for a startup business that is in need of office space is to rent an executive suite rather than to rent traditional office space. Most people don't even know this little secret. In fact, most people don't even know what an executive suite is.
Part-Time/In-Home Business - Low Expense and Low Risk
As a first time entrepreneur, there are a variety of franchises, dealerships, distributorships, and licensing opportunities available for purchase. Many of these you can start by working part-time from your home. In doing so, you save thousands of dollars in start up and operating costs, while at the same time reducing your overall risk.
Walt Disneys Failures Could Inspire Entrepreneurs
You are a struggling entrepreneur and sometimes it feels like you are pushing a 3 ton boulder up a steep hill. Costs keep mounting and you are considering giving up. Well before you do, check out these 10 setbacks that Walt Disney had, some were financial nightmares that put him millions of dollars in the red:
The Desire For Money, Do You Have Business Sense?
For those of us who grew up with parents who worked for businesses rather than owned them, the world of business can be quite a mystery. Even more so if we've dared to try to start one of our own. There is the factor of what type of business to start - a product or service business. There are the issues of doing a good market analysis, licensing the business, understanding the codes of law governing businesses, and determining just what type of business structure to choose - especially if the business will have employees. For example, should we start a sole proprietorship or a corporate business? It's a lot to work on, and it's not an overnight process to the road of success. But, the most crucial challenge to whether a business succeeds or fails lies deep within the realm of emotional versus financial intelligence.
Lessons Learned from One Entrepreneur on Vioxx
For the past ten-months, I tried every drug from the popular Vioxx, Celebrex and Aleve, to the long-standing Percocet, Ibruprofen 800, with some other fabulous ones like Fexeril, Ulltram, Naproxyn, and Antevert. (And, this is my short list).
Online Women Entrepreneurs Need To Pace Themselves
Saving time means pacing yourself, being organized, and always prioritizing your duties, responsibilities and efforts.
The Cockroach Test
Let me ask you a question? Imagine I would offer you $10 for eating 10 living cockroaches. Would you do it? Now listen, I raise the ante and offer you $100. How does that feel? If you hear me saying "you get $1000 bucks" does that change something? Here is the ultimate offer 1 million dollars for eating 10 living cockroaches right now. What is your feeling now?
Entrepreneurial Traits that Drive Sales
Frequently overlooked and hidden deep within our marketing tool box is the ultimate marketing vehicle for your business ? you! Many small business owners are so busy figuring out how to increase sales and revenue they forget to grow themselves as business owners. If you aren?t evolving yourself, aren?t you being counterproductive to your business development? Marketing our businesses isn?t just about what ads to buy or what networking event to go to next; it?s about us as people, as entrepreneurs. The following marketing traits are often overlooked by entrepreneurs but are pivotal to your long-term success. What?s more, they cost very little yet earn a savvy entrepreneur a lot. Show Your Personality -- Customers want to know who you are. That?s great that you offer the fastest tax services in town, or your gift baskets can be custom-made and delivered anywhere in 24 hours. But who are you? Your customers and prospects want to know. Especially if you?re facilitating business on the Internet, building trust is key to making a prospect feel comfortable buying from you. One of the most effective ways to build trust is to express your personality.
More Articles from Entrepreneur Information:
Financing Your Business
Anyone who is serious about making some money is already very well aware of the fact that it takes some type of investment to make this happen. I've read a lot of copy that suggests one can build a business for free, if they are willing to spend an extra amount of time to compensate for their lack of financial backing.
Business Planning for College Students and First-Time Entrepreneurs
More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working for another firm. Likewise, more and more individuals are leaving their jobs to fulfill their entrepreneurial dreams.
Staying Ahead of the Perils, Excerpt of Entrepreneurial Motivation Speech
Running a business is not an easy endeavor, it takes courage, hard work and a strategic mindset. I feel now that I am retired looking back on it all, that it is my duty to provide to new entrepreneurs a few of the secrets of how to get things done. Every year through out our long history spanning over a quarter of a century, The Car Wash Guys Team had been careful to watch changes that affected our business. One year we are watching droughts in the North Western Hemisphere and how the water supply affects our operations. We needed the water to wash cars and our countrymen need it for farming and drinking. Water is life. We also saw heavy El Nino seasons on the Western United States, British Columbia Canada, Mexico, Central America and parts of Western South America; imagine running a car wash business when it rained almost 60 days straight and we are not talking the drizzle like in the North Eastern US each year.
Applying The Daffodil Theory into Business Practice
At times all of us need a bit of inspiration to add to our day. When I first read this
article, I had started my own home based business and was in a bit of a slump. This
inspirational story was exactly what helped spring me into action and keep on
An Entrepreneurs Challenge
Living in the twilight zone has its advantages. In the early days of starting my business, I found the limitations of living in a rural area to be restrictive. However, later I realized that those limitations were not an obstacle that could stop me; they were only a challenge that would strengthen me. Since my business would be smaller, I would have the advantage of fewer employees and less strife in the processes of doing business.
The Danger Of Hate
As you have shown an interest in starting a business of
your own it would be safe to assume that you want to change
your life. You want more money - more control over your
life - more respect. But just as we each have a dream, we
also have a reality.
The Power Of Personal Environments
I've got to admit, I'm a big fan of comfort. I like it when things in my world are stable and reliable. For example, my home is my sanctuary. I live here, and I work here. I like it to reflect peace, order and beauty, so when a messy remodeling project was underway - like the recent replacement of a water-damaged bathroom ceiling - it affected me. I was stressed and cranky. My husband might not have been quite so generous and called me downright crazed.
The 5 Senses of an Entrepreneur
If you have seen me speak you will know that I believe the word 'entrepreneur' is used way too much these days. People seem to wear it as a badge instead of just getting out there and doing entrepreneurial things.
Just because you run or own a successful business doesn't necessarily mean that you an entrepreneur.
Designing a Comprehensive Franchise Company Computer System
One of the most important management tools a franchised company needs is a great computer system. The system must integrate with all the franchised outlets and also be able to interface with the Corporate HQ computer system. There are many companies which have already set up specialty IT systems for franchisors, but much of an off the shelf system will need modification. Be sure when talking with software vendors that you make sure that you get what you want and do not simply fall for the sales approach of them telling you what you need? After all, how on earth would they know that? Designing and/or securing a computer system will require some pre planning thought on your part.
Entrepreneurial Ongoing Education Advice
I would like to give some advice to all the up and coming entrepreneurs; if you really want to be a superstar not only do you have to work harder and smarter than the competition, but you must always keep learning. I built a company from a bucket of water and a sponge into a National Car Wash Franchise System in 23 states. To do this you need to know more than what they taught you in school and you can never turn off your brain. Every person is different and has different interests. But I would like you to read thru my recommended reading list. This is a list I hand out to MBA and Entrepreneurial Students when I give speeches. It is a list of recommended book, biography, audio tapes and movies.
5 Tips to Step Boldly into the World & Set Yourself Apart from Others
"Real champions believe in themselves even when no one else will!" Author Unknown
Double Your Income Automatically
It is a common known fact that it is far cheaper to keep an existing customer then it is to acquire a new customer. With this fact in mind you need to do everything possible to keep your existing customers happy and find complimentary products to offer your existing customers.
Playing Hookey Can Help! A Surprising Secret To Small Business Success!
Would you like to increase your chances of business success by 350%? The good news is that you can!
Four Steps to Entrepreneurship
As more and more people start or consider starting their own business, it is important that they understand the core steps that are required to launch successful ventures. These steps include spotting, assessing, selecting and executing upon opportunities.
Entrepreneurship Story; Over Regulation in Franchising Final Chapter
Sally and Jim have launched their automotive franchise business and are now selling franchises; problems arise as lawyers and over regulation threaten to ruin their life's work, see how it ends; tragedy or success. A realistic story of modern day franchising. . .
Success Secrets - What I, Mike Litman Learned From This Old Book
Yesterday was a beautiful, sunny day in New York and yes, I spent it alone :}.
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.
Focus is the Key to a Successful Startup
The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day. With so little to leverage, you need to make sure that the focus of your company's product offer is as razor sharp as possible.
The Business and Life You Want to Build
In the early days of my first consulting business, I knew I needed some sort of plan to give me the greatest chance at success. I took many a wrong step, yet in the end I managed to put a solid business together.
The Risks of Entrepreneurship
The "spark" for many entrepreneurs is seeing an opportunity that doesn't yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television news than they were being offered. It took a lot of patience on Turner's part to realize the vision, but he had read the market in a way that few "experts" did at the time.