Posts Tagged ‘Getting’

Entrepreneurship: Getting Started

I started my company (EMJ) from the trunk of my car (and it was a small trunk so that's a small business). I grew EMJ to $375,000,000 in sales prior to selling it to SYNNEX. I am now CEO of a $1 billion business. My successful blog at (jimestill.com) generates a lot of comments and questions. I want to share one of these thoughtful questions with you, and share my answer.

The question:

"First off I just want you to know all I'm asking for is advice, which is the most valuable thing I can get right now.

I have been working in a field of interest for many years now as a hobby. I've always had many very good ideas but I never had the resources to make them happen. I always figured it was because I was too young. Now I'm older, I have a job and I'm plagued with the same problem. I'll have a great idea but it will usually be out of my range because I either do not have the technical ability, the funding or resources to make the idea I vision happen.

My most recent plan evolved from my experience running similar websites, I found there was an un-fulfilled need. I decided to start judging the need for what I was offering so I did my homework and contacted over 130 other similar sites. Within a day I had 20 sites interested in what I had to offer. That's great and all but those 20 sites generate about 6 times the traffic I could handle. So once again I'm in the same position. I do not have the resources I need to properly execute my idea.

My basic question, what is the best route to take when you have a great ideal that is more then you can handle.

A little more about me, I'm 23 years old, I have been running web sites and involved in the industry for around 6 years. I have a good paying job in another industry which makes it even more difficult to make the "jump".

Thank you for your time."

My response:

1 - There is never a right time. Entrepreneurship involves risk. This means yous sometimes need to just jump. This said - I always say "fail often, fail fast, fail cheap" so I always look at the downside.

2 - It is very powerful to be under resourced. It will make you more resourceful and likely allow you to run a leaner more competitive business.

3 - I like to choose opportunities that are the right size for me now. This is a beautiful thing for business - there is always a right size business opportunity for everyone at every size. When you are starting from your basement, you can take a $100,000 opportunity and do well. Bigger companies cannot do this so will leave you alone.

4 - When the opportunity is too big for me, I consider narrowing my scope. Instead of being the biggest seller of bar code equipment, be the bigger in bar code for warehouses etc.

5 - Consider partnering. It is better to have 10% of something that is worth something than 100% of an idea.

6 - Ideas are a dime a dozen. It is the implementation that counts. How often do you see a restaurant with a line outside and the one next to it goes bankrupt. All the time. Ideas are easy.

7 - I know a lot of people who almost start businesses. They are not successful. To steal from Nike - "Just do it". And do it now. Time is the enemy of ideas and business. Someone else has the same idea. It is the one who perfects it that wins.

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Small Business Internet Marketing: Getting Found On The World Wide Web

Small business Internet marketing can seem like a labyrinth to a small business owner new to the term. There is so much information available--much of it conflicting--that it's easy to get lost and begin to suffer from information overload.

Here are a few ways small business owners can get started marketing their business on line.

* Blogging. A blog is simply a website which is frequently updated. While blogs used to be considered more personal, and resembled on line diaries more than websites, recently businesses have been starting to blog as a way of staying in contact with their customers. Even better than that, Google loves a blog. The more you update your site, the more the Google bots will visit, and the more the Google bots visit, the better chance you have of getting your business's site found.

* SEO. SEO, or search engine optimization, is a huge topic. SEO simply means setting up your site to be friendly to the search engines by giving them the information they need in the places they expect to find it. Using title tags and meta description tags, clearly defining your keywords, and getting other sites to link back to your site are all a part of basic SEO.

* Pay Per Click. Pay per click is a form of advertising where the advertiser buys space through an auction style system, and only pays when someone clicks on their ad. The results that you see at the very top of a search results page in Google are often pay per click ads, as are the smaller (and more obvious) ads off to the right of the page. Pay per click is very efficient at driving traffic to your site, but can be risky as well. You'd do well to hire a specialist in this area rather than plunge in by yourself.

* Article marketing. Whether you're in the business of selling flowers or washing machines, chances are you have knowledge that someone wants. By giving this knowledge away on sites like EzineArticles.com or GoArticles.com in exchange for a link or two back to your site, you can gain greater exposure for your business, and bring visitors in who would otherwise never have noticed you.

* Social Networking. Social networking is word of mouth advertising for the digital age. Instead of Aunt Suzy calling up Cousin Ida to ask who she hired to install the new windows, @AuntSuzy is posting questions about window installs on Twitter and Facebook. If your business is installing windows you'd be well advised to monitor those Twitter conversations. Help out @AuntSuzy with 140 characters of advice about choosing windows and who do you think she'll be recommending to her friends when they need windows?

* Forum posting. Forums are just another form of social networking, except the conversation is generally more focused around a particular topic. No matter what business you're in, there is a forum dedicated to it. Search Google for your topic +Forum and you'll find them. Get registered, start conversing, and as your reputation grows so will your business.

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The Secret Science of Getting Rich Through Entrepreneurship

Everywhere you turn nowadays, you always hear about venturing into entrepreneurship. But what is entrepreneurship exactly? It is actually defined as the process wherein a group or an individual makes an effort to pursue opportunities to satisfy needs and wants through uniqueness and innovation.

In a nutshell, entrepreneur solves problem for a profit. Some people have the misconception that entrepreneurs are gamblers in the sense that they take risks and invest in industries that have no record of success.

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Getting Organized For A Home Business

Whether you are already in a home business or are thinking of starting a home based business, working from home can easily show us our lack of ability in getting organized. Business success comes from a certain amount of organization ability. Join me, as we take a look at ways to get organized in your work from home business.


You will discover in this home business article:
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