Wednesday 30 July 2014

Getting On The Right Line Of Thinking - Think Like An Entrepreneur

How does one learn to think like an entrepreneur ? If you get lost, here is a line of thinking map.
getting on the entrepreneur line of thinking infographicWritten by Anna Vital
“Forget everything you learned,” they told me on the first day of law school. Three years and $150,000 later they erased from my mind all the half-truths I learned from school and my family. They were not teaching law, they acknowledged, they were teaching thinking. As an entrepreneur, you, too, have to relearn everything from scratch. By yourself.
As much as it seemed like a ripoff back in law school, I later realized knowing how to think is the most valuable thing. Period. You can do it yourself, for free, but be ready to painfully rethink everything you know, with a lot of courage. The reason is that by the time you figure out what you have to unlearn, you are already packed with multiple identities – the child, the student, the spouse, the employee, the citizen, the parent. None of them teach you to be an entrepreneur. Or to see opportunity. They just tell you what is required of you. To see opportunity – for that you have to think yourself. And, just as importantly, rethink and unlearn what you were told in your pre-entrepreneur life.

Get on the right line of thinking

I was riding the New York subway a couple of years ago. Got lost and came out in the wrong place.  Same with thoughts – you find out you got on the wrong line of thinking.

Monday 28 July 2014

Even The Most Successful Fail ...

The rich and successful also cry.

Failure is not a rare event, even among the greatest entrepreneurs and inventors. What they do differently is that they just try again, without losing motivation.

Persistence is the quality that can make miracles. Most of the people simply find it easier to give up something, instead of giving it another shot. But why is this? There might be so many answers to this question. Many people, for example, get scared by failure. You should know, that this is a common fear among all people, but the successful ones can easily get over it. Most of the biggest inventors and entrepreneurs didn’t make it the first time. Many of them didn’t even make it by the tenth time. You would be surprised, but there are many successful people today, that tried hundreds (even thousands) of times before they made it.

In the following video you can see some of the most interesting constant failures, that led to success at some point in time. Here you will see how many times some of the richest people tried before they succeeded …


And in the end, don’t forget the saying: Quitters never win, winners never quit !

Friday 25 July 2014

Living The Dream: The Realities Of Starting A Business

Huddle co-founder Alastair Mitchell shares the five business maxims that made the difference in his start-up story ... 

Having set up Huddle back in 2006 with Andy McLoughlin, I’m all too aware of the trials and tribulations of turning your dream into a reality. And believe me, in the first few years, it involves working long hours, a terrible diet (pizza is the staple of entrepreneurs nationwide!) and almost constant feelings of uncertainty. But, for every down there are numerous ups and life as an entrepreneur sends you on an incredible journey.
You can go from feeling like Richard Branson one minute to Del Boy the next. Huddle has now grown from a two-person bedroom start-up to a company with 200 people, offices in San Francisco and New York, and clients such as SEGA, Kia Motors, Unilever and the Cabinet office, so I can assure you that the roller coaster ride is worth it!
In the spirit of sharing the entrepreneurial wisdom, here the top five tips I’d like to impart to all the aspiring young entrepreneurs out there.

1. Spend every waking hour researching and developing your idea

When setting up your own company, you need to spend every free moment working on your idea. Yes, this may get you into trouble with your other half and prove a challenge when you’re balancing your current job with your new venture, but you want to make sure you get it right. Look at what is out there already, what’s in the pipeline and see if there really is a market for your idea. Your friends and family might not necessarily be the best people to bounce an idea off – they’ll try and be as nice as possible! – so try and find a mentor that can give you a steer in the right direction and some objective advice.

2. Be uncompromising in your vision

Ensure that you don’t add to the endless list of bad products in the world and trust your gut feeling. Organisations live and die by their products so you have to focus on building the very best product you can. While you can certainly seek and take advice from trusted advisers and mentors, don’t dilute your product too much. Andy and I had a very clear and simple goal when we set up Huddle and that was to help people get their jobs done and work better together. This remains the foundation of the business today.

3. Network, network and network some more

Your network of contacts is vital and will prove invaluable when you’re looking to expand your team and gain feedback on your product or service. Take advantage every connection you have – help can come from the most random places. My first boss was Huddle’s original angel investor and this initial funding helped us get started. While online networking has never been easier thanks to LinkedIn, Twitter, Facebook and other sites, there really is no substitute for meeting people in the flesh.

4. Your customers are key – get them involved as soon as you can

Customers provide invaluable feedback, the comfort factor for prospects and proof that there is something tangible to your business for potential investors. Whether it’s an in-depth case study, press announcement or a simple logo and one-line testimonial for the website, having a customer willing to say “we use this and we love it” is as powerful a marketing message as one could wish for. Happy customers will be an extension of your marketing team (when you eventually have one) and true evangelists for your company, so place them at the heart of your business.

5. Be ruthless from the off

It’s not a problem to give away a chunk of your business as you get started – but be mindful of how much it is worth and be ruthless from the very first day. Even at the beginning, you need to be firm and strong when negotiating and doing deals. If you let people walk all over you, you’ll set a precedent from that point onwards for people to take advantage of you and get the upper hand in any negotiations.
And most of all – enjoy it!
Alastair Mitchell co-founded enterprise content collaboration company Huddle with Andy McLoughlin in 2006. Since then the company has raised $40m of venture capital in a series of rounds, has offices in London, San Francisco and New York, and names 80% of the Fortune 500 and UK central government as its clients. www.huddle.com

Wednesday 23 July 2014

10 Cool Tips on Starting a Small Business on Your Own ...

There are few more challenging, exciting or potentially rewarding endeavors in life than starting your own business. Setting out on your own can feel everything from unnatural to downright foolhardy, but if you're among the select few that manage to get it right just be set for life.
Sadly, there's no blueprint for getting it right in every single business area across the board, but at the same time there are plenty of tips and tricks guaranteed to set you in good stead.
Here's a quick look at 10 of the coolest tips you'll come across for starting out a successful business of your own:
1 - Expect a Rocky Transition
If you expect to go through the process without a single doubt or moment of confusion, you're barking up the wrong tree. When starting out alone, you'll question your sanity, wonder if your goal makes sense and probably panic a little. This is natural, so don't be afraid of a little inner turbulence in the early days.
2 - Fake It Until You Make It
So you're not a high-flying business leader yet - that doesn't mean you can't pretend you're one. Even if you're not making a penny yet, dress as if you were running an important business, schedule your working days and stick to your itineraries like glue - all positive habits you can't form soon enough.
3 - Minimize Risks
Savvy advice in all areas of the business world, but as you're on your own you really can't risk big losses and setbacks. So while it might mean keeping your targets and ambitions low for a while, keep risks to absolute minimums.
4 - Remember Downtime
And while you're burning the candle at both ends, don't forget that without measured and structured time off, you'll never be at your best when it matters most.
5 - Don't Fear
You won't be confident until you know what you're doing is right and this will take some time. So in the meantime, accept that you'll run into a few confidence issues and don't be afraid to be afraid.
6 - Seek Inspiration
Think of who it is that inspires you most and what it is about them that gets you fired up. From business leaders to political icons and really anyone else you admire, take a leaf from the book of your idol and be inspired.
7 - Recognize Procrastination
When you're building a business all alone, you and only you can draw the line between time wasted and time well-spent. Don't let procrastination ruin your chances.
8 - Accept Failure
Not of the business, but rather of your ideas. If something clearly doesn't work, don't flog the hell out of it just to save face - walk away and learn from your mistake.
9 - Ask for Help
If you're wholly intent on going it alone from start to finish, there's no harm in using your family and social circles for a little fresh input from time to time. Asking for help doesn't constitute failure - struggling alone and eventually going bust however does!
10 - Network
And finally, sure you're in it alone, but that doesn't mean you can't connect with millions of other professionals out there with a ton of helpful advice to offer. Use all available web resources to tap into advice and build your business network.
http://EzineArticles.com/8537957

Friday 18 July 2014

5 Facts About Women Entrepreneurs That Will Surprise You

Think you need to be young, brilliant and loaded to start your own abundant work-from-anywhere Internet business? Think again…

5 Facts About Women Entrepreneurs That Will Surprise You
“Courage doesn’t always roar. Sometimes courage is the quiet voice at the end of the day saying, 
“I will try again tomorrow.” ~Mary Anne Radmacher
I meet a lot of women who tell me they’ve often thought about starting their own Internet businesses, but they tell me:

  • “I think I’m a little too old to get started now.”
  • “I have zero start-up money.”
  • “I’m married / have kids and I’m just too busy.”
  • “I don’t have any marketing skills.”

I understand where some of these self-limiting beliefs come from.
It probably has a lot to do with all of the stories we hear in the media about young up-and-coming entrepreneurs who came from out of nowhere to hit it big with their first business.
Take Dani Johnson for example, the motivational speaker and success coach who went from broke, homeless and living out of her car to making her first million at age 23.
Or Mark Zuckerberg, the CEO and Founder of Facebook.
At 19 years old, this guy had no car, no house, and no job. And still, he managed to secure $12.7 million in venture capital to finance his idea for a new social networking site that since pulled several billion in revenue last year (Not bad for a 26-year-old college dropout, right?)
When you hear about success stories like these, it’s easy to adopt the view that you need to be barely out of puberty, brilliant and loaded with start-up cash in order to be successful in starting your own business.
But this couldn’t be further from the truth.
These success stories are amazing and wonderful and inspiring…
But the fact is there are millions of women entrepreneurs out there running successful businesses that they started later in life while juggling families and day jobs.
The proof is a recent study from the Kauffman Foundation for Entrepreneurship that revealed some really interesting statistics about women entrepreneurs – including average age, background, and motivation – that I think may surprise you. 
The study is called “The Anatomy of an Entrepreneur” and it’s based on a survey of company founders across a range of different industries.
Here are the five most interesting takeaways from the report:
1.  Average age of women starting their own business: 40
2.  Less than 1% came from extremely rich or extremely poor backgrounds
4.  70% were married when they launched their first business
5.  60% had at least one child when they launched their first business (44% had two or more children)
6.  75% worked as employees for other companies for more than six years before launching their own business
This study is proof positive that you don’t need to be in your twenties with tons of start-up dough, a nanny and a private chef to succeed with launching your own passion-based Internet business.
Here’s why:
Not having a lot of start-up money forces you to get creative and only focus on the ideas and strategies that count.
If you have a family, chances are you’re already adept at the art of balancing priorities… which is an enormously HUGE skill to have when it comes to running your own Internet business.
And if you’re a little older and wiser, you can take advantage of your life experiences to form key relationships that will propel your biz forward at warp speed.
If you’ve been letting your age or family commitments hold you back from starting your own Internet business or hitting your existing one out of the park…
Consider letting go of those self-limiting beliefs and focus instead on leveraging your strengths.
Set your course, follow your passions and persevere and the rewards will come!

Wednesday 16 July 2014

Ten Golden Rules Of Home Business

Thinking of setting up a home-based business ? Intended to help you succeed, here are 10 tips from one of the founders of StartUp Britain and home-based business expert, Emma Jones …


Base the business on something you enjoy – when your hobby/passion/skill becomes your full-time job, it never really feels like work.

Have a plan – prepare a basic business plan to set out your vision, describe your market and explain how you propose to reach out and sell to that market. Include sound financials and review the plan every six months or so.

Find dedicated space – create space in your house that is your workspace. When in that space, family and friends should know you’re in business mode, plus, you can walk away at the end of the working day. Invest in a good desk and chair, because you’ll be spending quite a bit of time at and in them.

Create a professional front door – when customers come calling, be sure they’re met with a professional welcome. This applies from the way you answer calls, to your website, company stationery and even the places in which you choose to meet clients.

Make the most of social media – the home-business community has warmly embraced tools such as Facebook, Twitter and LinkedIn. They are free to use and act as business development channel and a virtual water cooler for the moments when you miss the banter of an out-of-home office.

Become an expert – set yourself up as an expert in your field by blogging/tweeting about the subject, writing a report, publishing a book or hosting an event. Being an expert gives credibility and with that, comes customers.

Never stop learning – part of becoming an expert is continually picking up intelligence from those around you. Keep an eye on what others in your industry are doing, read about successful entrepreneurs and tune in to trendspotters so you can prepare for new market opportunities.

Get out of the house – attend networking events, work from the local café, sign up to a personal development course. It’s good to get out of the home office, but be sure you can still be contacted and respond via your mobile/laptop/webmail, etc. This is your “road warrior kit”

Do what you do best and outsource the rest – to grow the business, focus on the core product of the company and subcontract non-core tasks (eg admin, accounting, PR, fulfillment, etc) to others.

Follow the golden triangle – to keep the business in balance, spend roughly a third of your time on each of three key things: customer care, business development and admin. That way, you’ll have a smooth-running business with happy customers and new income streams on the way.

http://www.startupdonut.co.uk/startup/business-premises/10-golden-rules-of-home-business

Those who work from home are 12% more productive than those who work in an office !

This 3 minute snippet from Radio 4 (August 2012) discusses interesting research about working from home - and its positive effects on health and productivity ... click on this link to have a listen :

http://news.bbc.co.uk/today/hi/today/newsid_9743000/9743364.stm

Monday 14 July 2014

Good Habits and Morning Rituals for Daily Success

Author & motivational speaker Brian Tracy talks you through some beneficial morning rituals that can prepare your mind and body for everything you have planned for the day ...


Wednesday 9 July 2014

Spotting A Gap In The Market ...

IMG_8531
Melissa Morris, 27 years old, left her high-flying job in the city three years ago to develop an innovative website after spotting a gap in the market which could help the NHS to save money in the long run. Shocked at the huge expense that locum staffing was costing small GP practices and the NHS, Melissa joined forces with William Hoyer Millars and so came up with the idea of Network Locum
What led you to the point of creating the business?
During my time as a management consultant at McKinsey & Co, I worked on a number of projects across the NHS. From my work, I realised just how inefficient the NHS was, especially in the area of workforce management, and I believed that I could make a change. Being able to leverage a flexible workforce is the key to making primary care work. During one of my projects I spoke to GPs who were complaining that agencies were too expensive to do this. I knew then what I wanted to do.
To help think of a solution, I looked at other models in different industries and realised that locum staffing could all be done online, which would lead to considerable cost savings. This model would also make locum staffing more transparent. With traditionally agencies, GP practices are often given the nearest available candidate but I wanted to give them a choice in the matter. Network Locum provides them with a choice of candidates so they can make the right selection for them and their patients.
I also wanted to give GPs an option to give recommendations on locums. This is a completely unique feature – there is nothing else like this in the market but I felt it was an important step in giving practices confidence and control over the locums they use.
After two years of research, I decided to leave McKinsey and go and work in the NHS to get a first-hand experience of how everything worked, before setting up Network Locum.
For those thinking of ditching their job, what are you three top tips for an easy transition?
Firstly, if you don’t already work in the industry that you want to start your business in, you should go and try it out. This will help you to get some experience of the kinds of trends and issues that are happening in that sector, and provide some insight into how your business could help.
It’s also a good idea to connect with people that inspire you, namely entrepreneurs who have a success story. They can be really helpful and will take time to meet with you or speak on the phone. I spoke to a host of successful entrepreneurs, from Martha Lane Fox, founder of Lastminute.com, to Will Reeve who founded LOVEFiLM as well as the CEO of Innocent Smoothies. It was extremely valuable.
My final tip would be to validate the idea as much as possible before you quit your job. Maybe even take some time off work to really get your head around it. Interviewing people in the industry and even releasing a pilot project to see if it works can both be really beneficial. This worked for me – we had a free version of the service that we launched whilst I was still working for the NHS. I didn’t quit my job until people started to use it to be really sure it was the right thing to do.
What does it take to succeed in business?
The ability to be humble enough to take advice from people who might know better than you is key. Entrepreneurs often have a passion for what they think is right, but I feel that it’s important to learn from other people’s mistakes otherwise you’ll keep making similar errors.
I have tried to get advice from as many people as possible, even though sometimes it can get confusing. There are times when I haven’t taken well-meant advice on board and regretted it.
Any final advice?
I would say, don’t be afraid to delegate to other people. People confuse this with telling people what to do; actually it is about empowering people to make big decisions. It not only makes your colleagues feel valued, but it really fosters a level of creativity that leads the business to succeed.
Extracts taken from the full interview with Melissa Morris, which can be found at http://www.startyourbusinessmag.com/melissa-morris-network-locum/

Monday 7 July 2014

The Most Successful Small Business in the World

Michael Gerber, author of E-Myth, talks about some startling facts and his take on the new age of the entrepreneur ...


Friday 4 July 2014

Richard Branson's Three Top Tips For Entrepreneurial Success

Billionaire, mogul, financier Richard Branson has built an empire on great ideas and the ability to follow through on a dream. 

Take a few tips from Sir Richard and reach new heights in your own entrepreneurial pursuits.

Provide Untapped Value to the Customer

"The most critical thing with any new venture is we must deliver a tremendous value to the consumer so that it enhances all the ventures we've done before it," says Branson. Today, the Virgin brand encompasses everything from soft drinks to airlines. Branson's approach has been to provide something unique in each venture; something the competition lacks. Find the value, find the customers.

Exploit a Passion

"I start businesses when I have a passion for something. That's also why I went into the airline business, even though everybody I talked to told me that there was no money to be made there. I felt that I could make a difference. That's the best reason to go into business because you feel strongly that you can change things," says Branson. It's the entrepreneurial passion and attitude that makes the difference in achieving lasting success.

Trust Your Instincts

"A business has to be involving, it has to be fun, and it has to exercise your creative instincts." Case in point, the "rebel-billionaire" relied on gut instincts to take advantage of opportunities when they presented themselves. Branson wasn't born wealthy, and began his empire by selling yet-to-be touched (i.e. "Virgin") records out of the trunk of his car when it was unheard of to do so. Slowly but surely, he expanded his business until it became the multi-billion dollar empire we know today. Follow his lead and mix a great idea with real passion.


http://www.success.com/article/richard-bransons-3-keys#sthash.sKbGMTm9.dpuf

Wednesday 2 July 2014

Character Traits of Successful Entrepreneurs

Studies have shown that successful entrepreneurs possess these characteristics: 

1. Self-confidence 

This is that magical power of having confidence in oneself and in one’s powers and abilities. 

2. Achievement Oriented 
Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks. 

3. Risk Taker 
They realize that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals. 

Entrepreneurs are people who will make decisions, take action, and think that they can control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck. 

So which of these three main characteristics is the most important? Believe it or not, it has to be self-confidence. Without self-confidence, nothing else is possible. If you don’t believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. Here are a few things to keep in mind for maintaining a higher level of self-confidence. 

Positive Thinking 

Well, it all starts with a positive attitude, doesn’t it? Believing that something good will happen is the first step. Negative thinking simply is not allowed. You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc. 

Persistent Action 

Now all of the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses are allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can’t get by a certain step, then find a creative way to try again or just go around it. 

At the beginning of this article we identified a few traits that are common among successful entrepreneurs. You should be able to look ahead and see yourself where you want to be. Now just maintain a strong belief in yourself and your skills, stick with it, and don’t give up. If you can do that, you’re already half way there!