Conquering Fear To Start Your Own Business ...

In just 3 minutes, marketing expert Seth Godin explains why we are programmed to fear failure ... and that the only person stopping you from starting your own business is YOU ...

Think Running A Business Is Tough ? Imagine Losing Your Eyesight Whilst Setting Up Your First Company ....

I attended the Southampton Business Show yesterday - and what an inspiring (and informative) day it was.  I managed to get along to 8 of the 10 talks ... and had the pleasure of hearing inspirational entrepreneur Liz Jackson MBE share her extraordinary story from start-up to appearing on Channel 4's 'Secret Millionaire'.  She lost her eyesight whilst setting up her first company, Great Guns Marketing, but did not lose her vision to become a success in business and to make a difference.  

She said that "achieving big dreams means stepping outside the comfort zone, doing things you haven't done before, to get results you haven't got before !

She also said it is important to start every day with your glass half full.  She starts every single morning by thanking God for all the wonderful things she has in her life.  

And her three top tips for entrepreneurs were : 

DON'T RELY ON LUCK - there is no such thing !  Concentrate on what you can do and what you have - not on what you can't do and don't have.

GRAB OPPORTUNITIES - and don't let go.  Don't quit.  Learn from your mistakes and grow. Sometimes it will be painful, it is not for the faint hearted. 

DON'T BE A 'NEARLY' PERSON - and she told a story of a man at a networking meeting who said to her "me & the wife nearly bought a boat last year and sailed around the world".  "But" she said "he didn't.  He didn't buy a boat. He didn't sail around the world. And one year later he's still telling people about something he DIDN'T do" ! 

Make sure you start every day with a glass half full, and make today a great day ...

Kelly Hoppen's Six Steps To Starting Your Own Business ...

Kelly Hoppen MBE, entrepreneur and Prince's Trust Ambassador, shares her top tips for starting a business ...

Starting Doing This ... Today !

Anytime you’re able to do what you want, what do you typically do ? 

If you’re like most people, you do the thing that you find the most enjoyable, the least scary or the easiest.

Therein lies a MAJOR stumbling block to success – procrastination.

Sure, you need to finish that project, but first you’re going to spend a few minutes on Facebook.

Yes, you need to get that blog post written and uploaded, but…are those dust bunnies under your desk? It won’t take long to run the dust mop around and then you will get right back to work.

And so it goes.

It is amazing the things that look more interesting to us than doing what we need to do. Sometimes it is “shiny object syndrome”, where something new seems that it would be more fun than working on the client project that is due next week. But it can even be something we normally would not want to do (Dusting ? Really ?) if we were not facing a more daunting task that we want to put off.

One of the reasons many of us went in to business for ourselves is that we wanted to set our own goals, control our own schedules and we didn’t want to answer to someone else. The one good thing about answering to someone else, however, is having that external accountability.

When you’re accountable to someone and you need to answer for your actions, you know what happens ? You get stuff done. And oftentimes just getting stuff done makes all the difference between succeeding and failing.

We tend to be our own worst enemies when it comes to being focused. But when you have someone to report to each day and account for what you accomplished, and whether you achieved your goals for the day,  procrastinating becomes downright difficult – and even a bit embarrassing. You know you’ll have to make an excuse if you didn’t get your work done, and you know your partner isn’t going to buy that excuse any more than you’re going to buy hers.

Find someone with whom you are compatible and become each other’s accountability partner.

Set goals for each day or week and share them with your accountability partner. Then you report on how you did on reaching your goals.

Here is how I do it : Every Monday I send out two emails to my accountability partners. One is my list of goals for the week and the other reports on how I did on my goals for the previous week. They do the same with me.

Just knowing that I will be reporting on what I accomplished (and what I failed to accomplish) motivates me to get more done.

This is a simple technique but I think you will be completely amazed at the difference it makes in your business.

http://www.idealady.com/start-doing-this-today/

Can A Group Of Aspiring Entrepreneurs Start Up A Business In One Weekend ....

Dragons Den: Deborah Meaden's Golden Rules for Business Success

Top Five Questions To Ask Yourself Before Starting A Business ...

Starting a business is exciting ... and scary. One of the best ways to boost the excitement and shrink the fear is by being prepared.

While it's difficult to plan for every possibility and challenge that may occur, you can get yourself on the path to success by considering these five questions before jumping in with both feet.

1. Have I set goals and do I have a plan for reaching them?

As the proverb says, "He who fails to plan, plans to fail," and this is especially true when starting a business. Without a clear idea of where you want to go and how you plan to get there, you may find yourself stumbling through the stages of starting a business and facing unwanted stress and frustration.

One of the most important steps is setting goals that outline what you want to accomplish in the short term (1 month, 3 months, 6 months, etc.), as well as over the long term (2 years, 5 years, etc.). Once you have created your goals, it's time to make sure you have a plan for your business that will guide you along the way. It's also helpful to understand your motivation for starting a business in the first place.

2. Will I be able to follow my plan without breaking any laws or regulations?

There are a number of legalities that you should consider when starting a business. Here is a list of some of the legal areas you should explore:

• Deciding on the structure of your business (sole proprietorship, partnership, corporation, limited liability company)
• Registering a business name
• Obtaining necessary licenses and permits
• Planning for business taxes

3. Have I fully considered the financial implications of starting a business?

Money is a major concern when you start a business, especially if you will be leaving behind a steady paycheck and if your business has significant start-up expenses.

Some business financing options to consider to ease the financial transition include starting your business on the side while continuing to work full time, working a part-time job until your business becomes established, waiting to start your business until you have saved up a financial reserve, and borrowing the necessary funds to bridge the gap.

4. Is my support network in place?

We accomplish very little in life completely autonomously, and the same is true in business. Even if you plan to be a sole proprietor, you can benefit tremendously from creating an external support system to keep you on track.

Your support network may include family, friends, colleagues, a mentor, a coach, and anyone else who can help you navigate roadblocks. When you have an effective support system in place, you will find that you have a cheerleader, consultant, moral support and even a devil's advocate when necessary.

5. Do I have what it takes to make it as a business owner?

Being a successful business owner requires a unique mix of personality and small business character traits. While there isn't a standard formula that makes one type of person more successful than another, some entrepreneur-friendly personality traits that can ease the process of getting started as a business owner include passion, drive, dedication and self-discipline. And it doesn't hurt to be an effective communicator and someone who is willing to take measured risks.

These five questions are likely to spur a few more specific to your situation. Now is the time to consider all of the possibilities ... then you can let your enthusiasm trump the fear.

http://sbinformation.about.com/od/startingabusiness/tp/questions.htm

How To Find New Business Ideas In Everyday Life

The idea for Disneyland’s Magic Kingdom was born on a family vacation. Walt Disney was visiting Tivoli Gardens, one of Europe’s oldest amusement parks, when he realized he could create a bigger, better version in California. His method is not unusual: Great entrepreneurs find new business ideas by paying attention to opportunities in everyday life.

"The world around you is filled with ideas that can be useful," says Andy Boynton, co-author of The Idea Hunter (Jossey-Bass, 2011).

None of those ideas will come to you by thinking really hard in a vacuum. You have to get out in the world and practice behaviors that lead you to new ideas. "Innovation is not about how smart you are; it's about the hunt for ideas," Boynton says. "Behavior trumps IQ."

By learning to think and act in ways that bring new opportunities to light, you can find a constant stream of business ideas in everyday life. Here are three tips to help you find inspiration in the world around you.

1. Keep a list of opportunities. "At any given time, there's a job that has to get done," Boynton says, meaning the world is full of problems that need to be solved. As you go about daily life, keep a running list of jobs that others have abandoned, ignored, or failed to address effectively. Each is a potential opportunity.

"Start with your own experience," Boynton says. Ask yourself, what bugs me? What could be easier? More fun? More convenient? Your own frustrations will guide you to real problems that can drive a new business idea.

2. Hunt for ideas in diverse places. New ideas require creativity, which thrives on novelty and diversity. You might find a great idea while you’re on vacation or unexpected inspiration in an experimental art exhibit. "If you open your eyes, the answer is there," Boynton says. "But your world has to be broad enough and diverse enough to feed you the ideas you need."

Your search needs to be intentional. "When effective idea hunters talk to people, they’re not just going through a social dance," Boynton says. They're looking to learn what others know or do -- mining the world around them for useful ideas.

3. Notice how others solve business problems. In any situation, you are surrounded by problems that someone has tried to solve. Each is an opportunity to learn. Start noticing how convenience stores organize inventory, how packaging catches your eye, or how Amazon encourages impulse buys. You might find a better way to solve the same problem or inspiration for solving a different problem.

"You really can borrow and reuse ideas, and reapply them," Boynton says. "If you develop a mental habit of [noticing others' solutions], it opens your eyes to what's out there."

http://www.entrepreneur.com/blog/225348

Testing Business Ideas

One of the best ways to avoid starting a new business that’s doomed to failure is to test your business idea rigorously before you launch.

Just because you’re good at something, enjoy doing it or dream of becoming a successful entrepreneur doesn’t mean you have a sound business idea.

If your new business is to succeed, there must be sufficient demand for your products or services at the prices you intend to charge. It doesn’t matter how much knowledge, personality and drive you bring to your new business. If people don’t want what you’re offering at the price you charge – your new business will fail. Simple.

How To Do Basic Market Research

Although the very words ‘market research’ conjure up images of clipboards, questionnaires and a small army of researchers pestering shoppers on a busy high street, for most small businesses the solution is much more basic.

The key to success can be to spot a gap in the market and tailor your business to fill that ‘niche’, so you become the number one supplier within that market. Even if you’re a ‘me-too’ business or if you plan to sell something that’s already proved popular, you should still carry out some market research to seek honest feedback from potential customers.

Pre-start market research for most new businesses need not be sophisticated or expensive, you simply need to know who your customers are and what they think about your products or services.

Don’t make the mistake of simply canvassing friends and family, because most will be reluctant to criticise. Plus, they probably only represent a small proportion of your market, at most, it won't be reliable market research by any means.

Speak to potential customers you don’t know. Find out their opinions about what you plan to offer. Do some real-life product testing. Crucially – ask whether they’d buy your product/service at the price you’re asking. If the answer’s no, you need to reconsider.

For small businesses that sell to few customers (possibly other businesses), market research will involve meeting potential buyers to discuss products/services and prices. For those aiming for mass-market appeal, the answer might well involve asking questions to people on the high street, where free samples always come in handy. You might do some door-to-door market research. Write down all responses and learn from them. 

Weigh Up Your Competitors

Effective market research also involves assessing the competition and web-based searches are a good place to start. Also flick through the pages of business directories and local papers/magazines. Even walking around the area in which you’re thinking of setting up will reveal much about the competition you will face.

Find out how many businesses in your market offer products/services similar to yours. Determine how much they charge and what terms they offer (eg buy now, pay later, etc).

If there are too many competitors or some whose prices/terms you cannot match, your business idea might not be viable.

Assess Your Market Research

Be honest when considering the results of your market research. Pay particular attention to feedback on prices and never simply ignore those who tell you they don’t like your products or prices. Ask what they would prefer you to sell and/or how much they would pay. If this is considerably lower than your price, find ways to cut costs, if possible.

Important flaws in your business idea might be exposed, but better to find this out before you commit time, effort and money to starting a new business that will never succeed.

You might decide your only option is to think of a different business idea. Don’t be disheartened. Many successful entrepreneurs have had to work their way through numerous bad business ideas to arrive at good ones.

Alternatively, your business idea might simply need a tweak here and there to enhance its chances of success. If you’re really doing well, your market research will make you even more confident your business idea is a sure-fire winner.

http://www.startupdonut.co.uk/startup/start-up-business-ideas/testing-business-ideas

Successful Entrepreneurs Do These 5 Things Daily

There is a saying that there are only three types of people in the world: those who watch what happened, those who wonder what happened and those who make things happen. 

Entrepreneurs fall into the last category, of course. They are change agents, people who don’t see the world as it is but as it could be. Entrepreneurs don’t sit on the sidelines and wish for a better world. Rather they go out and create it. They don’t wait for things to be different. They are the difference.

Being forward thinkers, entrepreneurs continually push themselves to become better and do better. They are game changers. They ooze confidence and inspire greatness.

Today is a great day to become an entrepreneur because the price of admission into this elite club is free and yours for the taking.

Do you really want to succeed as an entrepreneur? Follow these five steps and you’ll be well on your way to developing the leadership qualities it takes:

1. Willingly fail and reflect. “Ever tried. Ever failed. No matter. Try again. Fail again. Fail better,” goes Samuel Beckett's line. It's not always easy, the trying again part.

Another important thing is taking time to reflect on what went wrong. In the book The Call of Solitude, Ester Schaler Buchholz says, “Others inspire us, information feeds us, practice improves our performance, but we need quiet time to figure things out.”

In his book, Fail Up, radio broadcaster Tavis Smiley recalls lessons he has learned through reflection. He sheds light on these so-called failures that were, in hindsight, his best teachers.

You’ll only learn by failing over and over again. When you do this, you’re able to grow. And in spite of life’s inevitable setbacks, you’ll come out the victor.

2. Embrace and confront your fears. According to author Brendon Burchard, fear can be categorized in three ways, which all relate to pain. The first is loss pain, which happens when you’re afraid to move ahead because you fear you’ll lose something valuable.

The second is process pain, which inevitably occurs every time you try something new. You have to go through the process of learning to deal with it.

The last is outcome pain. This involves not getting the outcome you desired.

Burchard insists that people need to overwhelm their fears. Just as an army invades its enemy from every side, a person should do the same with fear, attacking it from every side, as if going to war. 

For Shark Tank host Barbara Corcoran, public speaking was her Achilles' heel. But she overcame it by going to war. She volunteered to teach a real estate night course in front of a small group of students to overcome her fear.

3. Practice self-discipline. This is the ability to delay instant gratification and the ability to work hard now to reap benefits later. When Academy Award-winning actor Jamie Foxx was a boy, hisgrandmother routinely made him take piano lessons even though all he wanted to do was go outside to play. He had no idea that those lessons would lead to his eventual success. To this day, he continues to hone his craft and disciplines himself to practice playing the piano for two hours many a day.

No one sees the years of hard work you might put into an endeavor. They only see the outcome. If you want to reap the rewards of tomorrow, you must put in the work today.

4. Get some sleep. Shortly after the debut of her eponymous news site, Arianna Huffington collapsed from exhaustion and lack of sleep. She’d been working 18-hour days because she was so committed to growing her company. When she collapsed, she hit her head against a desk and found herself lying in a pool of blood.

In her book Thrive, Huffington details the ordeal and says it was a painful wake-up call. She knew she had neglected sleep and took steps to correct it.

When you get the sleep you need, you’ll feel more energized, charged and ready to tackle any problem entrepreneurship throws your way.

5. Give to others. In his book, Give and Take: Why Helping Others Drives Our Success,Wharton Business School professor Adam Grant teaches the idea of generosity in a professional setting. 

For centuries, people have focused on the individual drivers of success: passion, hard work and sheer will. But things have changed. Success is increasingly dependent on how we interact with others and how much we give them.

According to Grant’s research, the most successful people are those who consistently give. Grant takes this to heart so much that he not only puts in long hours as a professor, but also as many and sometimes even longer hours giving and helping others. 

That ancient book, the Bible, was right all along: Happiness comes from giving.  

http://www.entrepreneur.com/article/234052