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Posts Tagged ‘Entrepreneurship’

Starting a successful business is dependent on many factors. The main one is the drive that the entrepreneur has to succeed. Anyone willing to enter the business world must be a risk taker and someone who is future oriented. Risking one’s capital and labor for the intention of making money is no easy feat. It calls for one to be determined and focused.

A business man should purpose to establish his business which will last into the future. Therefore, an entrepreneur ought to draw an ideal plan ahead and observe the trends in the current market. This will give him an idea on how things will be like in the future hence help cushion and prepare him in case of any eventuality.

An entrepreneur should seek to fill a gap in the market or fulfill a need in the market; this is by turning a business idea into a business opportunity. This therefore calls for a business owner to be observant and creative enough to identify such a need or gap. Entrepreneurship success also relies on effective management policies and offering of quality services or products.

Starting a business would require a business owner to connect with like minded people who will advice and mentor him on effective business management skills. Surround yourself with business oriented, focused and positive minded individuals. Attending business lectures will also equip you to succeed in conducting offline or online business.

So if you have a business idea, implement it today for tomorrow might be too late. While others are still waiting for favorable conditions to start their business, seize the opportunity to make money now.

“Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.” – Albert Einstein

Why is it so important to think out of the box? Without thinking this way there would never be any significant changes in the world. Once you set up a business based on innovation, your action is proactive, instead of a reactive one, which is always passive and “slowed down.”

Here are the main opportunities that become available to you when setting up an innovational entrepreneurial company:

• Satisfying Unrecognized Needs – First of all, let’s contrast the two types of a need, recognized and unrecognized one. The recognized needs, such as need for food, water etc, have got a really meaningful disadvantage by means of building a business based on them. It’s about a really high and already global competition. Therefore, your profit will most probably never go above the “standard” margin, caused by influence of increased competition on pricing. Of course, you can choose and existing product/service and find a way to produce/execute it few times less costly than others do, but still, it won’t give you an advantage in long-term time frame. What if you do something not just better than others, but something that others don’t do at all, just because they haven’t even thought about it yet? That’s the point. Building up your business based on satisfaction of unrecognized need gives you an ability to operate without any direct competitors, until you’ve got a patent for that product/service of course. Even if you won’t make your innovational product/service, you’ll still have ability to profit in short term, much better than in case of already existing products/services.

• Open Innovation Advantage – This advantage will help you to benefit easier, especially if the new product is somehow connected with technology. It can be considered as a supportive one to help you being a first mover to market. In any case, it enables you to be faster to market. 

• Independence – Since there won’t be any direct competitors, you become able to operate freely, building up your marketing plans independently of other companies.

• Marketing Excitement – Be prepared. Your excitement will grow to extreme levels when advertising your new, innovational product or service. Main is to be ready to the challenges ahead, even if it’s world wide.

• Strong Control – Once you build up a business based on innovational entrepreneurship, you get total control over your company and its way of operating. If you take all the details into consideration, nothing’s going to spoil it.

• High Level of Flexibility – Since you’re your own boss in this case, you can plan your schedule the way you want and make your decisions however you want. Main is not to miss the important details.

• Supporting Corporate Strategy – Once you establish up such a company, the innovation is more likely to become the core component of its corporate strategy.

• Boost On Start – What will happen if you combine it all with JIT techniques? That’s right – you get a boost just from beginning of your business operating. By producing to order, you no longer need intensive funding on the beginning stage of your business, since you have no variable cost when there is no request for your product/service. This decreases the commercial risk down to zero.

The thing is that while starting own business most of the people think only of already existing products and services. Main is simply to invest some more innovational creativity into process while being just on the beginning stage. Just be curious!

Giorgi Darsadze.

We have become a society of followers.  Like sheep, we are herded and fed from our master’s seconds and leftovers.  Few ever realize what they are truly worth because the wealth and empowerment is in the hands of the elite.  The scraps that the major corporations feed the masses are just enough to keep them hanging on.  We continue to hang with the false sense of security that is engrained on our brains by those in power.

Have you ever thought that we were not meant to live at the mercy of a few who impose their idea of what we are entitled to upon the majority of the citizens?
Have you ever longed to truly find your purpose in life and be free of the chains of the meager paycheck that barely stretches to cover expenses? 
Are you tired and unfulfilled because you struggle just to make ends meet? 
Do you long for the luxury of time to pursue the discovery of your purpose in life? 

This is the challenge to become an entrepreneur. 

Through entrepreneurship, you learn to control your own destiny.  You give yourself the freedom to explore your purpose in life and to survive and thrive through the fruits of your efforts, not just from the time you give to line someone else’s pockets.  Your successes and/or failures are something you control.  You are not giving all your effort at the expense of loss of control over your destiny.  You alone decide when and where you will work and what kind of legacy you choose to leave. 

Will you accept the challenge?

Are you ready to accept the challenge, or are you content to remain a follower, lost in the anonymity of the corporate world?  What are your excuses?  Do you think you are too young, too old, not smart enough, not educated enough, not cut out to go it alone?  Whatever your reasons not to try, are they worth living your life without realizing your purpose?

I can guarantee you that all of these obstacles can be overcome.  You must believe in yourself and know you can do it. 

Did I mention that you can start building your business while still lurking in the ‘security’ of your familiar job?  You can take baby steps toward your goal of becoming independent, thereby greatly reducing the risks.   When you see that you are ready to fly, you can jump off knowing that you will soar with the eagles!

You must make up your mind that you can and will become a successful entrepreneur.  Mindset is the most important and most powerful factor in finding your unique purpose in life.  You must take consistent and persistent action.  You must be grateful for everything you have as you march toward your goals.  You must be willing to help others achieve their goals.

Whether you choose the opportunity I did or whether you find another, I encourage you to do your research and discover the freedom that can be yours when you become an entrepreneur.  I wish you the very best as you pursue your dreams and discover your unique purpose!  In finding your purpose, you will indeed achieve self actualization and be able to give back more than you take from this earth.  You will leave your own unique legacy to benefit many future generations!

There is a Portuguese riddle that asks you to guess which being grows rapidly during its youth, takes 18 years to reach adulthood, usually lives to celebrate its 70th birthday, is able to survive adverse conditions, and produces sufficient wealth to feed a family.

In Portugal, a school kid who already knows the answer will smile at you and point his finger at a poster of an oak tree on the wall of his classroom. On the other hand, if you ask the same question during an evening course at a business school in Lisbon, students are likely to give you a different response. “What you mean is an entrepreneur,” they will tell you.

Inherited behaviour models are crumbling in our midst. Old morality is taking the blame for current problems, although often through spurious argumentation. Never mind. Ethical decay has reached such an extent that many parents have given up all attempts to provide moral guidelines to their offspring.

Where are we headed? Should we just continue to chant the old incantations of our culture even after it has become clear that the melody is broken? I don’t think so. I submit that an ethical model for the 21st century is brewing in old pots and casseroles: the sovereign entrepreneur.

Like the oak tree in the Portuguese riddle, the new species will reproduce and spread worldwide. It will survive a thousand years and open the door to a new era of tolerance and prosperity. What are the characteristics of this ethical standard?

1.- TALENT AND SKILLS TO WITHSTAND ADVERSE WEATHER. Through the ages, oak trees have taken root in most areas of the world, from California to Italy, from Argentina to South Africa. Even in unfavourable environments, these plants have grown stronger with each generation.

2.- QUICK LEARNING AND RAPID IMPLEMENTATION. The internet is compressing more and more the time needed to acquire professional or business training. Forget about dragging along six-years at an expensive University. Instead, turn on your mp3 player and listen to lectures in your field of interest. How long will it take for sovereign entrepreneurs to learn their trade? Possibly, less than two years, which, by the way, is the average lifespan of oak tree leaves.

3.- LOYALTY TO UNIVERSAL ETHICAL PRINCIPLES. Virtues such as flexibility, openness, tolerance, and honesty will render entrepreneurs sovereign of their fate and unconstrained in their business approach. In many cases, adherence to universal values will be preferred to identification with a specific country or culture. Oak trees have spread around the world on the basis of the essential characteristics of their species, irrespective of local accidents and fashions.

Despite massive efforts to foretell the future, nobody can predict accurately what is to come during the next years. Will we witness currencies collapse? Will major shifts in world economic flows take place? No matter how difficult the situation becomes, sovereign entrepreneurs constitute the species best fit to survive. When everything is said and done, wherever you live, you will always need to call up an expert to fix your toilet when it breaks down. That expert, you see, that’s the person you want to be.

JOHN VESPASIAN writes about rational living and is the author of the books “When everything fails, try this” and “Rationality is the way to happiness.” He has resided in New York, Madrid, Paris and Munich. His stories reflect the values of entrepreneurship, tolerance and self-reliance. See http://johnvespasian.blogspot.com a blog about rational living.