Visit San Antonio Urban Living! A top city for business - new vibrant neighborhoods, high tech, biking & walking culture, street foods transforming SA urban core.
Tech & Online
The Fear Factor
I recently conducted a lil' survey asking my colleagues what were their biggest fears when thinking about starting a business or running their business. The following are the top three fears that resulted from my survey and some ways to combat them.
1. Fear of Failure: But of course? the most obvious. Unfortunately, the reality is that 30-50% of start-ups fail for various reasons...not always because of poor sales. Actually, of every seven businesses that shut their doors, only one actually fails - that is, leaves unpaid obligations (Small Business Administration-sponsored research). Then you have your external factors that are uncontrollable, hence the thousands of 9/11 layoffs. However, there are some basics ways to get over failing, if you plan ahead for the good times and bad:
* Know your strengths and weaknesses. People who fear inadequacy sometimes try to do everything to perfection. Yeah, you control freaks out there know who you are! LOL However, you must realize what your talents are and then get help where you're lacking. You'll give yourself more freedom to excell in what you do best.
* Analyze your idea, your market, management team, and your financial feasibility before beginning anything!
* Identify the many pitfalls that others have had and learn how to avoid them. It can't be said enough?Know your competitors and find a good mentor!
2. Fear of Insufficient Cash Flow -AKA- Going Broke!: Your need for start-up money is the reason that you shouldn't storm out of your dull 9 to 5 just yet. Yeah..you might hate your job, but think about it as the contributor to your "lay-away plan for escape."
Realize you are probably going to spend more money than you make that first year in business. Here are some pointers to help prevent you from living back at Mom's in your old room...
* Get your business plan together?this goes hand in hand with Fear number one: Failure. Because the more you have dissected what you need to do, the more realistic things will be for you.
* Get your Side-Hustle going! Start small with projects after work and on weekends. You can test the waters to see if your business is even worth expanding. A slow transition is key.
* Know your monthly budget and save accordingly. Each paycheck you get from your job and side-hustle, stash away a chunk for your " lay-away plan for escape." You should have at least 6-12 months saved, so that you can keep that roof over your head and food in your belly. And hey?Don't count your 401k, that's for retirement only! You don't want to pay that 30% penalty for withdrawing!
* When all else fails--Borrow: Start off with friends and family. Banks usually want proof of a financial track record of at least 2-3 years, so they might not be as willing to give, if you have a brand new company. Money is pretty scarce these days, however there are still some grants that are being given away. Go online and to the business library and do your research. Ask your local business organizations. You might get lucky!
3. Lack of Stability: Some of the main reasons people leave their 9-5's is because they are bored to tears with the monotony. You can almost expect to be shaken into a world of change when you are in business for numero uno. But I for one think that's what makes its so exciting. Routine ~yawn~ is what many are escaping. You'll be free to call your own shots and instability is something that might even be welcomed.
* Be able to adapt to change: With every turn in today's unpredictable business environment comes another challenge. You need to be able to change directions quickly-always have a plan B! Entrepreneurs who are aware of change today and successfully adapt to it will emerge as the leaders of tomorrow!
Here are some related links to check out:
Small Business Administration: http://www.sba.gov
1099-Independent Consultant site: http://www.1099.com/
Simone Kelly is CEO and founder of Gots To Have It, Marketing, a firm that specializes in marketing and empowering entrepreneurs with a series of workshops and networking events. Please view her company web sites here: http://www.gotstohaveit.com and http://www.giventakenetwork.org
Ten Traits of Successful Entrepreneurs
Successful entrepreneurs have many traits in common. Here are ten of those traits that I consider to be very important.
The Magic of Float
If you've ever received a service today and paid for it in 30 days you've experienced the concept of "float" ? the time difference between when you receive a service and when you paid for it. In most cases this time period is a convenience to you as a customer, but in the world of business marketing it can absolutely transform your business. In the last 18 months we've grown our marketing budget at Swapalease.com (the company that owns me) by more than 1000% by simply leveraging the concept of float.
Lessons Learned from Successful Entrepreneurs
Entrepreneurs are a special breed of high achievers. They create things, get things started: businesses, clubs, churches, associations, even nations. Their motivations vary. Not all want to be rich. Not all want to produce a Fortune 500 company. Some are motivated by pleasure or civic pride or the desire for fame. Mary Madden, president of Information America, told me she and Burton Goldstein started their company because it gave them freedom and flexibility.
Build Your Own Board Of Experts
The most successful entrepreneurs rely on their advisory boards to help spot new opportunities and potential pitfalls.
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:
Creativity & Entrepreneurship: The Secret to Discovering Your Purpose in Life!©
Hello Creative Entrepreneurs!
The Lonely Hat: A Marketing Parable
Jones was a typical entrepreneur who worked long hours and wore many hats.
Prescription for the Future and Technological Revolutions
The world sure has changed in the last two-decades hasn't it? When I started out in business, there were no cell phones, fax machines, computers, etc. And I am not that old, having just retired at age 40. Indeed, in the better part of two-decades everything changed. And it is still changing and moving along. What will the next two-decades bring? You can probably figure it out with a little thought and watching the trends, new discoveries and think of what kinds of things the military, health care, entertainment and government industries will want. I recommend this book which foretold much of what we see now about a decade before we had it:
Hearing That Entrepreneurial Voice?
Women business owners are our only clients, so naturally we celebrate and support female entrepreneurship. Operating in this market gives us the good fortune to learn about some of the deeper themes in the lives of women business owners. It gives us insights into what really matters to women, and to what contributes not only to their success, but more importantly to their happiness and gratification in their professional lives.
Learn how to Compress Time
In the popular 1980's movie "Dune," man learned that by "folding space" the distance between two points shortened and he could cover those distances faster. Around 1995, we found a substance that could bend time in the business community -- it was called Venture Capital. With enough of it, we could compress the evolution of a startup company from a few decades to a few years. Companies like Amazon, eBay and most recently Google showed us that billion dollar companies could be built in years, not decades.
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
How To Find Hot Online Business Ideas
Would you like to find the key that unlocks the
door to a gold-mine of online response, sales and
results for your business?
Face The Fear, Ladies
Okay, I'll begin by telling you that I've been divorced for about 5 years, have an amazing family and by anyone's standards, I have a wonderful life.
Judging Entrepreneurial Ideas
Most entrepreneurs constantly come up with new ideas. Whether they are working on another project, driving, or lying in bed, their minds are constantly churning out new products, services and ways of doing things. For these entrepreneurs, the startup challenge shifts from coming up with ideas to choosing which idea to execute.
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.
Determine Your Niche & Be Successful
What's a niche?
Before the Business Plan
Purveyors of conventional wisdom would have you believe that the very first thing you ought to do when setting up a new business is to create a business plan.
Six Degrees of Separation
Through just five or six intermediaries, you could be linked to millions of others. It is the notion behind what has been dubbed the small world effect.
Top 10 Mistakes Entrepreneurs Make Before They Even Start
So you want to start a business. You have an idea. Lets say you want to be a carpenter. You print some brochures, some business cards, and take out an ad in the Yellow Pages. You pay $600 for a website and a domain name that tells everyone about your amazing credentials and experience. You distribute your fliers at a local grocery store. And then you wait. And wait. And wait?
Corporate Espionage in Franchising
Franchising Trade Journals do not do well, because today with all the industry regulations only about 1800 active franchise actually exist in the US. Down sharply over the past five years. Why? Over-regulation. Now you have a Bank Cooperative, which owns a company that collect data, FranData of Uniform Franchise Offering Circulars, which are the industries required disclosure documents to new franchise buyers. The company sells it to attorneys and to competitors of which many probably are financed through that bank. My God can this be real. Then they work with industry Trade Journals to do Top 50 franchises lists, but to be qualified to be reviewed they of course wish to see your UFOC; Uniform Franchise Offering Circular.