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!

http://plrplr.com/5339/successful-entrepreneurs/

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Why Entrepreneurs Should Plan For Failure, Not Success !

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Starting three companies -- two of which didn’t take off the way I envisioned -- taught me that while entrepreneurs should dream big, it’s essential that we also plan for failure. More than 90 percent of startups fail.

And recognizing this right off the bat will prepare you intellectually, emotionally and financially, if your venture doesn’t succeed.

Planning for failure doesn’t make you negative or paranoid. It makes you smart. First, there's a huge difference between preparing for failure and thinking you’re going to fail. The latter is highly discouraging and curtails growth. The former, on the other hand, is about being practical and thoughtful about all of the possibilities that may occur. In some ways, it can even encourage entrepreneurs to progress because being prepared quells fear and prods you to keep going.

I always plan for worst-case scenarios, considering how they may affect my team, their lives and how to mitigate them. For example, I need to think ahead: What if we were to lose one of our largest clients? How would that impact our cash flow, company morale and what would my investors think of the company’s outlook? It’s difficult to think of these scenarios, but I believe it’s necessary to plan for it. In some cases, planning for failure helps me anticipate challenges so I can prevent them from happening.

Additionally, being honest with yourself and thinking about potential failure enables you to identify mistakes that you’re making in your business, so you can correct them more quickly along the way.

It helps you be more objective. Starting and running a business can be a very emotional experience. Your company is your "baby,” after all, and it’s something that you’ve poured a lot of heart and passion into. Forcing yourself to be prepared for the worst can help balance that out. How? Planning for failure or thinking of an exit strategy pushes you to be less “clingy” with your company. It forces you to look at the facts and unpleasant possibilities (no matter how difficult), thereby enabling you to be more analytical and objective.

Being a bit disassociated from your company also gives you more perspective because it allows you to look at it from the vantage point of your investors or customers. This, in turn, helps you generate ideas or even catch errors that you may have missed being too close to your business.

Toward the end of my first company's existence, my co-founder Andrew Waage and I forced ourselves to evaluate the business from a customer’s perspective, and we learned that the solutions we were building simply did not solve a problem that was big enough. We set our emotions aside and closed the business because when looking at the facts, we did not have a business. We would have not had the courage to face our failure so quickly if we didn't plan for it.

Recognizing that you might fail keeps you on your toes. Acknowledging the possibility of failure prevents you from being complacent. Knowing that at any point your venture could take a wrong turn keeps you from resting on your laurels, which means you strive harder and don’t let success lead to hubris.

Never became too self-satisfied. Remember it takes years to build a company and one simple mistake to bring it all back to nothing. Never lose sight of that. It's important to stay focused and hungry.

Planning for failure makes it easier to move on. Preparation can help soften the blow in the event that your company hits the rocks. Looking back, I don’t think I would have been able to move on quickly from my unsuccessful ventures if I hadn't prepared for the possibility of failure.

When my first startup didn't take off, Waage and I were prepared to deal with the circumstances. We had planned for it mentally, emotionally and financially, and decided we weren't going to take it personally, which was why it only took us two weeks to recharge and start our next venture.

No one wants to face the dreaded “F” word, but even the most successful entrepreneurs experience their share. It’s simply part of the game. And, who knows? It could even serve as the foundation for something far bigger and better. 

http://www.entrepreneur.com/article/233275

What To Do When You Have Too Many Ideas, And Not Enough Time

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What do you do when you have too many ideas and not enough time? Or similarly, what about when you have too many tasks and not enough energy?

As an entrepreneur, I feel like I’ve been battling this issue for a while. There is always another opportunity to chase or a new product idea that sounds exciting. For a long time, I felt guilty about ignoring good ideas that came my way and so I kept adding more to my to-do list.

However, during a recent conversation with Travis Dommert, I learned about a new strategy for dealing with the issue of having too many ideas and projects.

It all comes down to treating your life like a rose bush.

Let me explain what Travis taught me…

Ideas are Like Rose Buds

As a rose bush grows it creates more buds than it can sustain. If you talk to an experienced gardener, they will tell you that rose bushes need to be pruned to bring out the best in both their appearance and their performance.

You see, a rose bush isn’t like a tree. It can’t grow wider and taller each year. And that means if you never trim away some of the buds, then the bush will eventually exhaust itself and die. There are only so many resources to go around. And if you really want a rose bush to flourish, then it needs to be trimmed down not just once, but each year. 

Ideas are like rose bushes: they need to be consistently pruned and trimmed down. And just like a rose bush, pruning away ideas — even if they have potential — allows the remaining ideas to fully blossom.

Just like the rose bush, we face constraints in our lives. We have a limited amount of energy and willpower to apply each day. It’s natural for new ideas and projects to come into our life — just like it’s natural for a rose bush to add new buds — but we have to prune things away before we exhaust ourselves.

In other words: new growth is natural and it’s normal for tasks and ideas to creep into your life, but full growth and optimal living requires pruning.

We All Need to Cut Good Branches

I like the rose bush analogy because it brings up something that is often lost in most conversations about productivity and simplicity: if you want to reach your full potential, you have to cut out ideas and tasks that are good, but not great.

In my experience, this is really hard to do.

If you’re building a business, maybe you have 3 product lines that are profitable. Your business might grow by 5x if you focus on all three, but which product line will grow by 500x if you put all of your energy into it?

If you’re training in the gym, there are all sorts of exercises that could make you stronger. But which two or three exercises will build a foundation of strength better than anything else?

If you’re thinking about the relationships in your life, there are dozens of people that you are connected to in some way. But which people bring energy into your life and which ones suck energy out of it?

Most rose buds could grow if they are given the chance. In other words, most buds are like a good idea: they have potential. But in order for the entire bush to flourish and live a healthy life, you have to choose the ones with the most potential and cut the rest.

The Bottom Line

Gardener and writer Elizabeth Roth says, “Roses that are left unpruned can become a tangled mess of old and new canes all competing for air and light.” 

We can say the same thing about our lives. A life left unpruned can become a twisted knot of ideas, tasks, and projects competing for your limited time and resources. If you don’t prune some of the branches from your life, the important ones will never flourish.

http://www.entrepreneur.com/article/234140

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Want To Start An Online Business - What Are You Waiting For ?

Do you remember when you first heard of Ebay. Online auction place. Who thought back then it would end up being so big and so many people would be using this auction site. Most of us are aware that you can auction off just about anything on Ebay. People are making serious money selling products online at Ebay. It is also a great resource to find those hard to find items.

Have you checked into the many possibilities on the web to making some serious cash? There are so many ways to work from home and run your own business. You can buy products wholesale and setup your own internet store. If you do not want to stock items you can find companies that will drop ship your products for you. There are even programs you can buy online that are a complete system that shows you how to do this. Did you ever think you could get your own business up and running for roughly under $100 dollars?

You can make money selling ebooks, writing articles for websites, creating websites…

There are so many ways to make money on the internet today. It just takes a little research and then time on your part to really learn the best ways to promote your idea and become knowledgeable about all the different ways to advertise online.

Do you have what it takes to become an aspiring entrepreneur to start and manage a home based Internet Business? Do you have the Entrepreneur Bug?

Seems with the growth of the World Wide Web more people are becoming entrepreneurs. Just what is an Entrepreneur? There are many definitions the most simple is a person who owns, operates, and takes the risk of starting a business venture. An entrepreneur can also be known as an inventor.

Do you need to invent a product to be an ruthless entrepreneur? Absolutely not, just take an already existing product or idea and create a business and profit from it. Organize a business venture and assume the risks for it. Come up with your own niche to get clients, close deals and start making some serious money. What ever you decide to get involved with you should make sure you really know your product inside and out. What are you waiting for? Start brainstorming today and make your dream of being independently wealthy a reality.

http://plrplr.com/5317/online-business-work-from-home-entrepreneur/

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