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Further
Reading ...
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Think Outside the Box - 9 More Ways to Make Money Online - Lisa Jay
Are you making money hand over fist with your website? If you are then you don’t need to bother reading this article because it is not for you. If you are like most of us your website sales are slow and unpredictable and you need to think of new...
Starting a Software Product Company - Will Spencer
This article is too complex for a plain ASCII submission. The entire article is online in PDF format at http://www.entrepreneur-support.com/Starting_a_Software_Product_Company.pdf About the Author Will Spencer is the webmaster of...
Does Your Job Cause Stress? - Stephen Bucaro
---------------------------------------------------------- Permission is granted for the below article to forward, reprint, distribute, use for ezine, newsletter, website, offer as free bonus or part of a product for sale as long as no changes are...
Bad Habits Keep You From Achieving Financial Plans - David Wilding
Bad habits can ruin any well thought out financial plans. Habits such as your morning coffee, buying lunch at work each day, and of course smoking and drinking, can drain your bank account. They are not as noticeable as someone backing a truck up...
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Are You SURE You Want To Start Your Own Business? Part Two of a Series
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Written By:
Charles and Holly Egner
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Why, exactly, do you want to go into business for yourself?
- Is it because you cannot stand the thought of working for an uptight, demanding, and perfectly dreadful boss?
- Is it because you cannot bear the thought of going through another downsizing or restructuring, knowing that your job could be on the line?
- Is it because you want to be your own boss, call your own shots, or see more up side in your earning potential, with the possibility of financial self-sufficiency?
These are all good reasons for wanting to go into business. In fact, studies have shown that many entrepreneurs get their start due to some life-altering experience such as losing a job or finally walking away from a dead-end job or a demoralizing work environment.
It is amazing how creative, resourceful, and innovative you can be when, finally, you reach the edge and find yourself in a survival situation professionally. In times like this, the entrepreneurial spirit comes alive and you figure out that you can simply do it on your own.
Does dissatisfaction alone in some area of your life constitute reason enough to venture into business and the life of entrepreneurship? Many potential entrepreneurs get to this bridge and never cross because they do not know how to discover and unleash the entrepreneur within himself or herself.
Many people resist giving credence to their entrepreneurial tendencies no matter what the circumstances, ignoring the potential for self-expression, independence and the fulfillment of their dreams. Herein resides the real tragedy. Many people experience paralysis from fear of the unknown and fear of failure. Consequently, they never pursue entrepreneurship and the potential freedom that it can bring to their lives.
Although entrepreneurship appears to offer many advantages for personal and professional growth and accomplishment, why is it that so many new entrepreneurs fail? In fact, studies have shown us that out of every 100 entrepreneurs who start their own businesses, 14 will succeed and a whopping 86 will fail in the first five years. The odds, so to speak, are stacked against you as a nascent entrepreneur. Therefore, if you are contemplating starting your own business you should take it very seriously.
The two biggest reasons people fail in a new business are:
- they don't know what they are doing, and
- their business is undercapitalized.
When - continued below ...
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we say they don't know what they are doing, we mean they literally don't know what they are doing in terms of running a business day in and day out. It also makes perfect sense that a new business might be undercapitalized (not having enough working capital to run the business). In fact, many new entrepreneurs, who don't know what they are doing have a hard time finding either equity or debt capital for the reason that lending institutions and savvy investors typically do not like to give money to people who don't know what they are doing in business.
In order to improve your chances of beating the odds, what is important is that you educate yourself about business development. There certainly is enough information out there on how to start and run a small business. For instance, if you go to Amazon.com and type in a search for books on 'Entrepreneurship'' alone, you will have over 21,000 book choices. Nevertheless, where does one start in deciding what to read, who to listen to, and what to implement?
In the more than 55 years of combined experience in the world of business that my wife and I have had, and working with hundreds of hopeful entrepreneurs, we discovered four basic stages to business development that every entrepreneur must go through to enhance their chances for business success.
- Reflect
- Envision
- Create
- Build
Most entrepreneurs, especially the 86 that fail, usually skip one or more of these essential stages of business development and find themselves in a heap of trouble before they know it. Typically, a new entrepreneur will get and idea (envision) and go straight to market (build). They simply unknowingly skip the 'reflect' and 'create' stages, and charge into business with an 'if-I-work-hard-enough' attitude everything will be all right.
Well, statistically we know that not everything is all right and it does not work.
Charles and Holly Egner are veteran entrepreneurs. They have trained, coached, and mentored hundreds of aspiring entrepreneurs. Their last entrepreneurial venture sold for just under $400 million in 1999. BuildOnYourDreams.com was founded to help promising entrepreneurs to build the business of their dreams. For their free Life Strategy Planning Teleseminar, visit http://www.BuildOnYourDreams.com today.
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eBay Auction Seller's Guide to Finding Hot Money Making Products - Leroy Chan
(c) Leroy Chan - All Rights reserved You might be one of the thousands of individuals who open a trading account with eBay and dream about making auction selling a full-time home-based business. However, before that dream can become a reality, you...
Book Summary:Turbo Strategy - Regine Azurin
This article is based on the following book: Turbo Strategy 21 Powerful Ways to Transform Your Business and Boost Your Profits Quickly By Brian Tracy AMACOM, 2003 ISBN 0814471935 160 pages Businesses are run mostly on auto-pilot and any...
eBay Gold - Greg Hayes
Internet auctions are relatively new having been around since the mid 1990's. There are several Internet auctions including Yahoo Auctions and UBid. But of course the undisputed king of Internet auctions is Ebay. Ebay has over 100 million registered...
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