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Archive for Entrepreneurial Lifestyle

5 Precepts for Entrepreneurs

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Wednesday, March 9th, 2016

5 precepts

Precept: a general rule intended to regulate behaviour or thought.

Your actions will have a corresponding reaction.

For each decision and action that you make as a business owner, especially those that propel your business forward, your competitors will react. Much like a chess game, strategic moves that result in your business jumping to the forefront in your niche, will result in a likewise counter move from those who compete with you.

Expecting perfection is self defeating.

The more you strive for perfection in your business, the less happy you may be with your progress. Have you ever noticed the business owner who refuses to bring out a new product until everything is just right? Their advertising and marketing, messages they would like to post on social media, their website – all of it must look just right, be the right color, have perfect wording, come across a certain way – all in the name of perfection. In the meantime, your competitors have already moved ahead with the same or similar services and products and are now the leaders in your market.

Even when you fail, there is a lesson to be learned.

Without failure, there would be no risks. By taking risks, entrepreneurs innovate and this is how some of our greatest companies have come to exist. With risk, there is also the chance of failure and this is the way you learn what needs to be improved, what should be changed and how not to be complacent. Failure doesn’t necessarily mean that your product has bombed or your services are unneeded. It can mean that your marketing campaign wasn’t quite right or that you are a little ahead of your time. It gives you a chance to stop and think…and improve.

Plans are made to be changed.

No one likes change. Though many say they thrive on it and apparently it is good for us, it still doesn’t go over well, especially with your customers. Marketing change as improvement has long been one way many large companies have managed resistance in their customers. Changing your plans doesn’t mean you slow down or become less productive. It means you have a better idea and want to move forward with it.

Measure success through your own eyes, not through the eyes of others.

If this is your first business, you know how far you’ve come. You know what you have learned since striking out on our own and though you may not know why everything is going well, over time you’ll learn that also! Don’t let others tell you how well you’re doing unless those others are your customers. You’ll know which of your actions have created the most welcome responses from them, as all of your actions will have a corresponding reaction!

Chris Draper © Copyright 2016 All rights reserved.

image courtesy of emaze

 

 

Categories : Business Tools, Entrepreneurial Lifestyle, Marketing, Productivity, Small Business, Success
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Can Selfishness Be a Virtue?

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Tuesday, January 12th, 2016

virtueSelfishness: devoted to or caring only for oneself; concerned primarily with one’s own interests, benefits, welfare, etc., regardless of others

Entrepreneurs can be selfish but with one difference. We still care about others while we concentrate on ourselves.

We know what is best for us.

Rather than living up to the expectations of others, we live up to our own. By becoming our best selves, we have more to offer those around us. While we know we have to compete with other business owners, we tend to spend more time trying to better ourselves.

We deserve our best.

By being mindful of our own needs and our unique qualities, we bring our customers products and services that are of use to them. Rather than copying what is already out there we come up with new ideas that improve on what is available. At the same time, we won’t cut corners on quality.

We think of ourselves.

We work from our home offices. This way we can put in extra hours when we want to, trying to come up with innovative concepts and original methods of making complicated things simple. This makes life easier for others but most of all it makes life easier for us. We make our businesses part of the way we live our lives.

We never let ourselves down.

By being responsible for ourselves, we make sure our most important needs are met. We look after our health, get lots of sleep, work hard and make sure we have time for our families, friends and hobbies. This way we have more energy to help those that need it.

We are self-centred.

We focus completely on what we are doing. We realize that short-term pain means long-term gain for all of us but we won’t ignore our needs while making those gains.

Chris Draper © Copyright 2016 All rights reserved.

image courtesy of socialpaintball

 

 

Categories : Entrepreneurial Lifestyle, Small Business
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Success As An Entrepreneur

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Tuesday, January 5th, 2016

adventuresfrombehindtheglassWe’ve been told many times, that if we put our minds to it, anyone can be an entrepreneur.

Maybe they can, but can they become a good one – a great one? Some say there is no way everyone can be an entrepreneur. The job is too demanding and much too time consuming.

These are valid points but the fact is, not everyone wants to be an entrepreneur. To many, the thought is terrifying and exhausting. The lack of what they see as security, routine and “normality” would have them running in the opposite direction as fast as they could. The amount of work involved is much too much for most.

But for those who have a mindset that is just a little bit different, who are just slightly more independent, that thought is there, in the background. The sense of satisfaction and empowerment they would feel if they worked on their own. It fuels their dreams and while they may never take that “big” step and start their own business, they still will be found working just a little bit differently than the average person.

What traits and qualities lead to success as an entrepreneur? Look around at those who have built a thriving business for themselves and you’ll often find most if not all of the qualities below.

People skills

The ability to connect not so much with large groups or as a speaker but one on one in a professional, well spoken way. People appreciate your putting your full attention on them and interacting in such a way that they know you have been listening to them.

Originality

New ideas are important and new ideas that are a good fit for other new products are even better. You want your small business to work well with other businesses of various sizes and there are times when the ability to fit in is very important.

Confidence

Being confident in yourself and your abilities can bring you a long way. Confidence means you can stand your ground in a diplomatic way. You’re not afraid to have to disagree sometimes but you are also able to concede a point. Be able to agree to disagree.

Having control of your emotions and behaviour

Always. Losing your temper or being  impatient shows a lack of ability to cope. Always remember that there could be someone watching or listening that could help you build your business. If you’re having one of those days where the wrong word could send you over the edge, keep your socializing or contact with others to a minimum. Sometimes silence really is golden.

Be comfortable with yourself

The best business people know their shortcomings and also what they excel at. They’ve learned to relax into their personality, their habits, their creativity and their lifestyle. One thing that is noticeable is that they are always well dressed. Not business suit attire but pulled together. After all, you never know when you may come across a potential contact!

Many of us think we could become great entrepreneurs, but there are those of us who are best with routine and reliability. When working outside of this, we feel that we aren’t in control of our lives and live with the nagging feeling that there are things that could go wrong at anytime. The steady nine to five position works best for some. It makes them happy and we need people like this.

The long hours and self induced solitude that can come with entrepreneurship won’t work for everyone.  We all have our own very interesting abilities and some of us are just meant to take that different road which leads to running our own business, that road less travelled.

Chris Draper © Copyright 2016  All rights reserved.

image courtesy of adventuresfrombehindtheglass

 

Categories : Entrepreneurial Lifestyle, Small Business
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A Curious Trait of the Most Successful – Introversion

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Thursday, December 17th, 2015

introvert“It is no measure of health to be well adjusted to a profoundly sick society.” – Jiddu Krishnamurti

Most of the general public think of small business owners as extroverted, shameless self-promoters and extremely competitive. Though some are, do these traits describe the most successful business owners? Not by a long shot.

While extroverts gain energy from those around them and that is why you will always find them at the centre of a crowd if at all possible, it is the introvert, with no desire or need to be motivated by others, who becomes successful when they spend more time alone, as they lose energy when around others for too long a period.

Extroverts tend to enjoy social situations and do well in them, while introverts cherish their alone time and actually relish being an introvert and the freedom it allows them. Not afraid to be solitary for long periods of time, they put this time to use wisely and building businesses is one way they can use their highly developed creativity.

They value this solitude and put limits on the number of people who are allowed access to their personal living space, which gives them more time to concentrate on their business. Not craving attention, their solitude lends them the ability to focus more on their work and they are able to process ideas and information much quicker without the incessant clamouring of others for their time and the distraction of too many people speaking at once.

Introverts tend to speak less, so listen more and observe what is going on around them. They pull in ideas from their environment and are so good at being independent that they are excellent innovators. Being different doesn’t bother them at all because they realize that what they think is much more important to them than what others think, unless it’s their customers who are speaking to them.

Since they do so well at one-on-one relationships, the outcome of any business problem is usually positive because of their great negotiating skills. They are far more adept at selectively deciding what is really important and what isn’t and know how to give and take and when it is in their best interest to give more than take, something that the majority of extroverts don’t understand at all.

All in all, both extroverts and introverts can be successful business owners if they understand how to use their talents to their advantage. Each works a different way and both ways, when focused solely on a business, can mean huge business growth.

© Chris Draper, DemGen Inc. 2015

image courtesy of fineartbyirenevincent

 

Categories : Entrepreneurial Lifestyle, Productivity, Small Business
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Is Your Business Too Rigid?

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Thursday, December 10th, 2015

rigid

Most small businesses started off with a business plan and while most business owners tend to keep to a plan, schedule or set of goals, there are many whose “sticktoitness” actually keeps them from attaining what they’re aiming for – a successful business.

All business owners should believe in their product or service. It’s your sincerity that helps customers to trust you. When they know you believe in what you’re doing, it helps them to believe in you too. It’s when your belief starts to verge on the fanatical that it becomes a problem. You know you’re becoming a fanatic when you can’t see the mistakes you make or improvements that could be made.

We all like our businesses to have a brand and to be different than those who compete with us to a certain extent. ‘A certain extent’ is the important phrase here. Taking things too far and tweaking your products until they don’t resemble anything useful is going too far and if it’s just for the attention factor it won’t be of any help to your business or you.

There are business owners who refuse to give up even the slightest bit of control within their business. When this concerns finances, that’s one thing but if you are buried beneath a pile of work, need help and refuse to let anyone help you because you can’t control every little thing they do, your business is going to go downhill quickly. Even worse is the business owner who hires an assistant and then insists on everything being done his way. It was his way that got him in trouble in the first place.

Don’t compromise? A business is a series of small comprises. You can’t have everything exactly the way you want it to be and remember, you are working with customers. At some point, you have to give a little. The same thing goes for those who insist on sticking to the smallest possible budget. It will show in what you are offering your customers. Cheap is cheap.

To avoid becoming rigid, choose the right type of business for yourself. This may not be that dream business you had always envisioned. Pick a business that you know something about, not what is popular at the moment.

Always keep an eye on the future, advice given by many business gurus. Don’t forget to look to the past sometimes. It helps you to see how far you’ve come and also shows where you made mistakes. Concentrate on the present. That is where you are now and if you want a successful business future, it will always be based on what you are doing at any given moment.

© Chris Draper, DemGen Inc. 2015

image courtesy of lightshouse

 

Categories : Entrepreneurial Lifestyle, Productivity, Small Business, Starting a Business
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Some Surprising Facts About Entrepreneurs

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Wednesday, October 21st, 2015

entrepreneursThe average entrepreneur is 40 years old when they start their business. People over 55 are twice as likely as people under 35 to begin a high-growth business.

Older entrepreneurs usually have more business experience and are more willing to take risks. Many people choose entrepreneurship after honing our skills in a particular profession first, and based on their expertise.

The majority of entrepreneurs we see now have already worked all their lives or been part of a hugely successful company. They’ve retired, tried the travelling and leisure for a few years only to find out it wasn’t for them. They needed to be doing something. They’re bored and miss being involved in a business.

To most “gray” entrepreneurs, age is not a factor or a detriment to their working. They are active, both physically and mentally, tend to look younger than their years and have no problem taking on new challenges. Actually, they welcome it and will be the first to tell you that challenges are part of a well led life. They know that they might not necessarily succeed and don’t expect everything to go right because after a certain age, you learn that mistakes are made and failures happen.

With the present economy, we look more to small business and entrepreneurs to help with available jobs and though we tend to think they are younger and focus on programmes for younger entrepreneurs, the majority are actually older and more experienced workers. They are more efficient for they have learned how they do their best work and the risks they take also differ from those who are younger.

Many older entrepreneurs are turning a hobby into a business. If they have a retirement fund, they’ll apply what they have saved into their start up and use the business to carry them through their retirement. Sound risky? Maybe, but to them it’s worth it to be doing something they love, rather than passing the time in boredom and feeling useless.

Entrepreneurial ability does not change as you get older. If you are the type to start a business and have the business knowledge and ability at 30, you will still have those abilities at 60, only you’ll have more experience to go along with it. You’ll have an increased understanding of people, demographics, products and services and most of all, what you want to do with your business.

© Chris Draper, DemGen Inc. 2015

Categories : Entrepreneurial Lifestyle, Small Business
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What do You and Your Business Lack?

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Wednesday, October 14th, 2015

happenClients. Many small business owners start out with very few clients. Dependency on only two or three clients puts your business in jeopardy and upsets the client/business owner ratio to a point where you are almost an employee and no longer really in charge. Though adding clients and building your business is a challenge, it’s a necessity if you want to keep your business going and lower your risk of losing your business all together.

Business skills. Though you may feel your grasp of technology, marketing and accounting are more than  you will need to succeed in your business, the real challenges tend to crop up when you don’t understand the industry you are involved in. Competitors, trends, client diversity and demographics are just as important as the soft skills necessary to run a business.

Focus and organization. Working on your business means you have to pay crucial attention to details. Though many business owners tend to follow a business plan to the letter, others know that in order for any plan to work, they must be thoroughly immersed in all aspects of their business. Knowing your business inside and out, concentrating on the necessities and staying organized help your business grow.

Innovation. Without new products and services and the ability to improve those you have, your business will stagnate and others will move ahead in the marketplace. Though there will always be a place for the tried and true, if what you have works best for your customers, you should be reminding them of this. Don’t be afraid of change and don’t resist the necessary changes you need to bring to your business.

Self confidence. Just like everyone else, business owners will sometimes feel that what they are doing is not good enough or maybe just not enough. The economy may have them worried and there is always the fear of failure. When you focus too much on the “could happens” and not the “what will I make happens”, you run the risk of beginning  a vicious cycle that eventually leads to a business slowdown. If lack of confidence is a problem for you, look for a mentor, someone who has already been through what you are now going through.

© Chris Draper, DemGen Inc. 2015

 

Categories : Entrepreneurial Lifestyle, Motivation, Small Business
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How Do You Spend Your Life?

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Wednesday, October 7th, 2015

your businessHow we spend our days, is, of course, how we spend our lives.
~Annie Dillard

For most of us, especially business owners, our days are spent chasing what we call productivity. The more we feel productive, the more we manage to pacify ourselves with the feeling that we are doing what’s right, what is important.

Is it really that important? Is most of what we’re doing, in our bid at success, nothing more than coasting through the day, not being totally aware of what’s going on around us?

What are the three most important things in running a business? The first is your product or service. Is it needed? Are you able to provide it with relative ease and at a competitive price? Is there a market for it?

The second most important thing is your customer base. Who will purchase this? What problems will it solve for them? Do they absolutely need it and if not is it needed enough that it will sell? Included in this are the activities involved in providing it.

The third is relationships. Yours with your customers and how you will relate to them to create a demand for your product, answer their questions and provide a valued service or product.

The realities of running your own business have always involved long hours, intense work and an ability to market to customers well. What you have to decide is what is more important to you. Running a business and having a life or running a business and only running a business. Efficiency is not a trait that many of us are born with but it can be learned. Many business owners are as easily distracted as the rest of us and just like us, they like to play hookey and spend their time doing what they want to do, rather than work. Wise business owners have also learned to concentrate their time and effort on the customers that buy from them the most. That way they aren’t putting in wasted minutes or hours dealing with the difficult customers who don’t end up purchasing from them, but go elsewhere. Learning to decipher one from the other is worth your effort.

The most successful business owners have a vision and they keep it in mind while working. If you look at your time each day and divide it into chunks that are worth so many dollars, you will quickly decide what is worth doing and what isn’t. Concentrate fully on your market and be consistent with your products and services. Decide what is most important about your business, what you can offer that will bring the most value and then go after it. This way, you are working only a certain amount of hours where you concentrate fully on the most important aspects of your business. If administrative work and details are taking up too much of your time, hire a virtual administrative assistant – one that can keep up your website, take care of your email, write your blog posts for you and handle all of the other little things that are needed to fully operate a small business.

Decide what you love to do, what is most important to you and do it. Realize that productiity isn’t everything, having a life is much more important. Your job and business may be rewarding but there are other things in life that bring much greater rewards when they are combined with your small business.

© Chris Draper, DemGen Inc. 2015

image courtesy of thevisualcommunicationguy

 

Categories : Entrepreneurial Lifestyle, Productivity, Small Business
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An Entrepreneur’s Life Can be Lonely

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Wednesday, September 16th, 2015

the lonely entrepreneur  Late at night, a single light glows from a window down the street. With the rest of the neighbourhood in darkness, it shines like a beacon to those passing by.

On the other side of the tightly drawn curtains, a weary business owner once again goes over their plans for the next month, wondering if they are making the right choices. They’d like to talk to someone about their business, but at this hour, others are sleeping in preparation for the next day at their jobs and even if they weren’t, they most likely wouldn’t understand the worries of an entrepreneur anyway.

The life of an entrepreneur can be very lonely. Their hours tend to be different than those of their friends and family. Most of the time they work alone and their chances for human contact during those hours can be minimal. Though others believe we are so driven and busy that we don’t have time for them or even think of them, the exact opposite is true.

Most entrepreneurs have learned that there is a huge difference between being alone and being lonely. They find that they do their best and most creative work when they’re by themselves, without interruptions. They’ve learned that being disconnected from others can sometimes be a blessing in disguise and have learned to appreciate the choices that working alone and on their own, can provide.

For those that absolutely can’t put up with being alone, there are other choices. If you can, work outside of your home part of the time, at a coffee shop or other area that provides an internet connection. Your balcony or patio are both good areas to work during the summer. Stay in touch with others through chat or social media. Get outside for a walk every few hours, weather permitting. Even having background music playing or talk radio can be a help.

Don’t let the fact that you are working alone build into anxiety or too much stress. Learn to take advantage of all that working on your own can give you – unlimited choices, growth at your own rate, originality. Lack of distraction is not just a want for entrepreneurs, it’s a need. Sometimes we do our best work late at night, when we are comfortable in our own homes and the rest of the city is asleep.

© Chris Draper, DemGen Inc. 2015

image courtesy of personalopz

 

 

Categories : Entrepreneurial Lifestyle, Small Business
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What Scares You About Your Business?

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Wednesday, September 9th, 2015

fear  All business owners start their business with a mixture of excitement and fear.

Their largest fear? Just like an addict who is trying to get clean, it is of failure. Whether they will admit it or not, the thought of losing their business, especially due to their own mismanagement, is enough to paralyze them.

Confronting your fears by meeting them head on is the only way you can get past that initial starting point and build a successful business and the most important way to do this is through planning. Acknowledge your fears, rather than pretending they aren’t there.

Running a business is serious. It’s difficult and it’s a lot of work. Thinking otherwise is a recipe for disaster. Just like a job or profession, don’t allow your business to be your whole identity. While it’s ok to identify with what you do, what you do is not who you are. It’s a part of what makes up a whole and the sooner you learn this, the sooner you will be able to focus on the parts of your business that scare you the most.

Has competition always frightened you? Though most of us know people who thrive on it, the majority of us steer away from competition as much as possible. Yes, you are competing with other businesses for customers but more importantly, you are doing the best you can to make your business the best it can be. Concentrate on competing with yourself.

Don’t let your business take over your live. All of us need an outlet and you need to find one that helps you clear your head and separate you from your work. While this is especially difficult for those of us who work from a home office, it is even more important that we find a way to look after ourselves first and then take care of our business.

Having emergency plans in place if the worst should happen will help you overcome your greatest fear and means that you will worry less as your business grows. Invest in yourself and your business, rid yourself of the bad habit of worrying and use your time in a more productive way.

Rather than letting fear take over, think to yourself, what one little thing can I do right now, to feel better about this – instantly, you have lessened the impact of whatever scares you.

© Chris Draper, DemGen Inc. 2015

image courtesy of overyonderlust

 

Categories : Entrepreneurial Lifestyle, Small Business
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