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How to Create a Mastermind Group
Developing mastermind group requires an alliance of a small number of people who are willing to make regular commitment to each other to achieve a common goal. It may sound simple but in practice it can be quite difficult. Compare mastermind group dynamics with the art of baking bread. The process might be simple and straightforward but mixing all the ingredients in right proportion and proper kneading of dough is something that needs an expert and delicate touch.
Mastermind groups often find it difficult to sustain the passion with which they are started. May be members of the group find they don’t have sufficiently similar interests and goals. Developing element of mutual relationship is important for achieving common goals of the group. Some of the ingredients suggested for developing a mastermind group are:
- Time commitment to meet on fixed schedule ? preferably once a week.
- Right number of members in the group – 5-6 members is “just right”.
- Flexible meeting agenda – allowing more time to a member if it is so required.
- Accountability – members should be accountable to themselves and to the other members of the group for the steps they agree to take for achieving their common business goals.
Sounds interesting? Read Nina Kaufman’s article – visit:
http://legal.entrepreneur.com/2010/11/30/how-to-create-a-mastermind-group/
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
How to Build a Million Dollar Business
Achieving $1 million in sales is a dream of every business firm. According to U.S. Census Bureau data, approximately 80% of all U.S. firms fail to achieve this figure. Getting to $1 million in sales is reaching a level of sustainability. Most businesses fail because they commit three major mistakes when they are starting and developing their business.
- Most entrepreneurs spend a lot of time in research and development, building a product without validating the idea with their prospective customers. One should consult as many prospective customers as possible by making cold calls to validate the idea of launching a new product. Discuss what exactly your product is meant to offer and how do you plan to solve their problems with your product.
- Arranging for adequate capital to meet the growth needs of your company is the second priority after your sales start gaining momentum. The most common type of financing comes from friends and relatives. Understanding the structure of investment and inviting equity partner needs serious consideration for the right growth of your company.
- Third major mistake that most entrepreneurs make is Reckless Hiring. Hiring expensive employees should be avoided to prevent drainage of funds. It is advised to seek a working partner for equity who will have the required skill and can offer useful advice when you are wrong. Outsourcing is the best option to find network of workers on as and when needed basis.
- Want to know more about these useful tips from Sramana Mitra, consultant and author of theEntrepreneur Journeysseries of books” Visit http://www.bnet.com/blog/entrepreneurs/how-to-build-a-million-dollar-business/747
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Making Time for Marketing
Most self-employed professionals feel they have no time for marketing. If you are the only one to serve the clients, manage the business, and perform all the sales and marketing functions, you really feel scarcity of time. Some Time Management techniques can guide you to defer tasks or delegate them; you can manage time for making calls, writing letters, or updating marketing materials. Have you already tried all those methods and discovered that time is still scarce”
What is your real challenge – to find more time for marketing or to MAKE time” Every day, you take part in many time-consuming activities which surely arent related to marketing. You could integrate marketing with all those things you are already doing if you could check some examples of how that can work:
- Attending workshops or cultural events with some business contacts can help develop better relationship instead meeting one-to-one.
- If you are planning to meet someone on lunch or coffee, add one or two persons to this get-together. This is great way to make new contacts. New invitees would appreciate the opportunity and you can have a rewarding group discussion.
- It is good to invite someone to join you for a walk in the park or a game of tennis. Such meetings help building business contacts. You can meet some contacts in golf course where you can discuss business while doing exercise.
- While reading an interesting article in a magazine or online, think of three people whom you could send it with a short “thought-you-would-be-interested” note. It will take only a moment, but can make a big impression on the recipient.
Sounds interesting” Get familiar with more ideas to make time for marketing, visit:
http://entrepreneurs.about.com/od/salesmarketing/a/marketingtime.htm
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Deciding Price Strategy For Your Product or Service
As an entrepreneur, first thing you need to decide is your price strategy. Fixing right price for your product or service is major aspect of a marketing program. Considering some basic factors may help you in taking right decision in this direction.
- How do you plan to position your product in the market” If you are planning to market your products through a discount store, you will try to keep your prices lower than your competitors. On the other hand, if your product is an exclusive luxury item, keeping low price tag might hurt your image. The pricing must be consistent with the positioning. People strongly emphasize to the idea that you get what you pay for.
- Do some market research to find out acceptability of your product at a particular price. Work out demand curve at various prices to assess the best price for your product or service.
- Calculate the fixed and variable costs of your product or service. Ensure that your gross margin (price minus cost of goods) sufficiently covers your fixed overhead to get you acceptable profit margin. Many entrepreneurs under-estimate this aspect which gets them into trouble.
- There are other areas to be examined before you decide pricing your product or service. To get detailed information on this topic visit:
http://entrepreneurs.about.com/od/salesmarketing/a/pricingstrategy.htm
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
The New Approach to Business Development
As a smart startup entrepreneur you should minimize your time and efforts by shifting your approach to business development. During the early stages of your business planning, you come across two groups of tasks:
- The busy work: The startup busy work means the task oriented stuff. Starting the busy work doesn’t necessarily mean that you’ve started the business.
- The business work: This is the area where business development ideas are constructed and dissected. Actual business planning starts during this period,
Few things might help you plan your business development smartly.
- Finding couple of trial client is important before you spend substantially on marketing materials. Get an impressive presentation folder with one sheet description of your business. You will have to meet 10 persons to get your first two customers. Those ten will help you figure out whether you are moving in the right direction.
- Organizing demonstrations and presentations in your potential client meetings can help you find solutions about enhancing sale appeal of your product or service. Wisely allocate your budged on product or service development.
- Dont avoid meeting a new client. The key to balancing busy work vs. business work is to plan as you go. Most of information that you need for business development will come from actual clients.
To get a clear picture of the direction your new business will take, focus on business development activities and resist procrastination by hiding behind busy work.
To know more on this subject, visit http://www.womenentrepreneur.com/2010/11/the-new-approach-to-business-development.html
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Qualities Of a Successful Entrepreneur
An entrepreneur explores his business with great uncertainty about the future. Becoming a successful entrepreneur is not an easy task. It is complicated and a difficult one. There are numerous qualities which a successful entrepreneur must have in order to achieve big.
- Optimistic : A successful entrepreneur must have a strong belief in himself.
- Innovative : He must be creative and resourceful.
- Motivated : A successful entrepreneur must be highly motivated to achieve stable position in the market.
- Goal Oriented : Goal must be set with the determined purpose of the organization.
- Ability to acknowledge and change: He must be able to listen to each and every feedback of customers, acknowledge them and make changes to provide good service.
- Self- Disciplined : Self discipline is an essential feature to achieve success.
- Practical : Being practical is the most important quality which an entrepreneur must be able to master.
- Open minded : He must be open minded and be always prepared to listen and learn from everyone properly.
- Specialized : A successful entrepreneur must have deep knowledge about the business.
- Leadership : An entrepreneur must be able to communicate effectively with his employees.
Any one can be a successful entrepreneur just by following these simple attributes.
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Patience is a Key Towards Perfection
Patience is not just waiting for some one for short duration or long. It is not for working fast or slow, even it is not about talking more or less.
Patience is the potential and willingness to endure waiting avoiding complaining or being upset when faced with a troublesome or challenging situation. It can be considered as a virtue. It is about waiting for the perfect moment and perfect place in order to take a right decision. Being patient can take an individual or a group towards perfection. It is a discreet way towards the path to individual success in beneficial effort. A calm attitude can bring good fortune and success in life.
A person having patience and calmness can be a winner in their respective field.? All the good things comes to those who waits for the right time. Patience accommodate prerequisite momentum for the explorer to abide the journey on the path of perfection. It is an excellent stepping stone towards perfection.
"The key to everything is patience. You get the chicken by hatching the egg, not by smashing it." – Arnold H. Glasgow
http://www.entrepreneurship.org/
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Innovation is a Key for Business
Innovation is always considered as a crux for developing successful business. Innovation is a practice to change business ideas. It is useful at the crucial moments of any business to make a drastic change. We can try something new in favor of making our business successful.
In the present scenario applying something new in the field of business is beneficial for both small as well as big businesses. Trying innovative ideas in business can create competitiveness in this globalized world. Even it can create some new economic and business opportunities for entrepreneurs as well as a well for business holders.
At the time of high contention one innovative step with unique strategy can make an individual winner all through the competitors. Renaissance is sometimes very fruitful for business survival and success. Innovation can revolutionize business process and can create a new success.
http://www.newyorker.com/reporting/2010/01/18/100118fa_fact_gladwell
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Top Tips For Dealing With Biz Disasters
Any business may face any disaster anytime. A key employee may be seriously injured in an accident or some power crisis might disrupt functioning of your computers; some natural calamities might abruptly shut down your business activities. If your business is closed for few weeks due to some unforeseen disasters, you are likely to lose your valued customers who might be forced to switch to your competitors. Are you prepared to face this situation? You need some planning to face the inevitable. Assess what can go wrong and how that can affect your business; prioritize your action plan to minimize risk factor.
Get some professional guidance on how to make your disaster control plan and bounce back from an unexpected crisis ? and keep connected with your customers in the meantime.
Visit http://www.entrepreneur.com/management/operations/article78212.html
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +
Get Yourself an Entrepreneurial Education
Are you a business owner with high ambition to make your enterprise grow? How do you plan to achieve your goals? Probably you need some basic education to execute your expansion programs. Entrepreneurial education is most important for young business owners to achieve success. Some entrepreneurs choose to start of their own. But the right choice is to obtain a university degree in entrepreneurship and get advantage of vast business resources offered by renowned universities. These education programs offer thorough knowledge about essentials of business principles including capital and human resource management. Achieving desired success in your venture may be delayed if you lack professional qualification in entrepreneurship. If you feel you need a university degree to make you a professional entrepreneur, find the institution that best suits your needs.
Get some professional advice on how to pick a study program for your enterprise, visit
http://www.entrepreneur.com/growyourbusiness/howtoguides/article81250.html
About Jim Jacques
Jim Jacques is the President of United Virtual Office, a leading nationwide provider of virtual offices for entrepreneurs, startups and small businesses. A virtual office includes an address at a prestigious business location in the US, live virtual receptionist, courier services and more. Google +