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Every small business is different. A large scale study was conducted by the Guardian Life Small Business Research Institute in which over 1100 different companies with 9-29 employees participated. The study revealed that there were six key traits that defined the personality of the successful business owners.
Think you’ve got what it takes:
- Collaborative : The Guardian study found that knowing how to collaborate was the single most important trait for someone running a business with less than 100 employees.
- Curious: Most outstanding managers in this study were constantly searching on internet to find way how to improve their business, retain their employees and upgrade their products.
- Future Focused: Taking keen interest on what’s coming up is a crucial trait for a successful small business owner.
- Self-Fulfilled: Successful small business owners are the kind of people who prefer being in full control of their own destiny. They value the freedom to make their own choices.
- Tech-Savy: Most of great small business owners in this study were convinced that technology helped make their business more efficient.
- Action Oriented: The top performers in this study were highly motivated. Adversity motivated them to work harder irrespective of the state of the economy.
Read Ben Popper’s article to know more about these key traits of successful small business owners. Visit: http://www.entrepreneur.com/article/217837
To accomplish more in less time it is important to follow five P’s of Productivity.
There are many books available on Time Management and many new titles are being published. With lot of information easily accessible, why do people struggle to manage their lives? The concept of Time Management seems to be quite simple. Allocate 24 hours to completion of needs, tasks, projects and responsibilities.
Time Management Coach Stacey K. Vulakh explains how to focus on the end result instead of trying to monitor the minutes and control every factor. He emphasizes on incorporating “5 P’s of Productivity” in your life to get the best results and enhance your productivity. These are:
- Keep your eyes on the Prize: You need to identify why Time Management is important to you and define the intended goal or prize.
- Manage your priorities: Defining your priorities should be your primary or main concern. Narrow the priority list to three or four and focus on those.
- Plan, plan, plan: People will be far more successful if they implement an element of planning into their life. One\’s success level will improve dramatically with some sort of a planning process.
- Identify Partnerships: Partnerships can take on many forms, so be creative.
- Practice: It takes 21 days for a new thought or activity to stick.
Read the article to know more about this important topic. Visit:http://www.womenentrepreneur.com/2011/01/time-management-start-with-the-end-result.html
Raising Capital to grow your business or invest in property has become harder. The key to raising capital is a person’s ability to sell. Selling is a crucial skill for any entrepreneur. The main question you come across while planning to raise capital is ‘What are you selling’ or ‘What is the lender or investor looking for’.
According to Kim Kiyosaki, the key to raising money, whether it’s to start or expand your business mainly depends on four factors:
- The Project
- The Partners
- The Financing
- The Management
If you can show a prospective lender or investor that you have command over these four key factors, then selling will not be an issue, and you will attract more money than you thought possible.
It’s important to know the overall “want” of a lender or investor. Every investor is mainly interested to know whether he/she is going to get healthy return on his/her investment. That’s the overall want of an investor. The same criterion applies to every lender or investor whether it is a traditional bank or a lending institution or an individual.
To know how to address these key points clearly and confidently, read Kim Kiyosaki’s article, visit: http://www.entrepreneur.com/article/217347
The difference between the two lies in the ability to inspire your team, especially during difficult times. “Leader” and “Manager” are not one and same. A Leader is one who influences people to produce desired results whereas a Manager is a person who merely directs a team. Leadership also requires the ability to create an enjoyable work place. Most businesses face the challenge of proper management training. During an economic downswing, training programs are often the first to be eliminated to cut costs. In fact, it’s the wrong choice and reflects lack of foresightedness and vision. Most managers who have successfully undergone management training are likely to stay with their employer longer. The effectiveness of company leaders from the CEO and down is a crucial indicator for a company’s success. Business owners may face difficult times but they should remember employees are the most critical part of any business and true leaders can weather the storm by motivating their team to stay with them in difficult times. Want to know more about some of the core traits of a true leader? Read the article; Visit: http://www.entrepreneur.com/article/217494
As a business entrepreneur – particularly when starting a new venture – you need to adjust ways of working and maintain schedules that work best for you. If you are an entrepreneur, balancing various tasks – an office, a home and a family – you might end up making an unplanned commitment with your scheduled tasks. Some proven ways to make schedules work for you are:
- Block off certain times of the day for completing parts of any large task.
- If your business requires meeting clients – pick one or two days of the week to fix a client meeting schedule and focus only on clients appointments.
- Consider mixing other important family tasks with your office work schedule (a school pick-up or drop-off, doctor visit or a grocery pick-up etc).
- You may have a relation building day if someone wants to schedule a lunch or coffee.
- If you write articles or blogs choose most relaxing or quiet times for your writing activities.
Stick to one task/project on a particular day.
Sometimes you may need to plan your work schedule around someone else’s schedule. Planning work schedules and keeping them can certainly help you complete different projects smoothly. Get more information on this topic, visit:http://www.womenentrepreneur.com/2010/12/when-you-need-to-avoid-going-insane-the-importance-of-schedules.html
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:
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
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.
No one denies that there are great benefits of working from home but most professionals today get up early, get ready, barely grab a bite and have to rush through the pollution and traffic to their offices. In bigger city’s some travel for an hour or more to get to work.Virtual office services are an ingenious manner, by which this entire scenario can be reversed; it allows you to do most of your work from home or for that matter from wherever you are.
With today’s growing paperless trend and digitalization of almost all cooperate proceedings more people dont feel the need of buying a separate office space or renting one. Freelancers and independent business professionals all over the world are realizing the potential of Virtual Office services and are making the most of it. They choose to work from home and use a virtual office service to select a prestigious address for their firm, capitalize on all the benefits of such an address and that too at a much lesser cost.
Yes, every business or profession might not need a virtual office but for those companies who rely on making a good impression on their clients a virtual office might be that added edge which would let them outgrow their competitors. It may sound silly but its only human nature, a residential address can never inspire as much trust and confidence as to what a reputed business sector address would.
The concept of virtual office in its full form aims at sufficing all your office needs without ever having a physical office. It allows a group of individuals to work together for a common goal, as a single entity without ever having them under the same roof. In essence, you can work in total collaboration irrespective of wherever your team might be in the world.
How does that work” Availing to a virtual office service is not only limited to having a fancy address but includes a-la-carte mail delivery and forwarding services, a front lobby receptionist at your virtual office and full professional secretarial and administrative support service.
As a part of the package of the services you avail, you can choose to hire a virtual office assistant. Virtual office assistants are just like typical assistants but they work from their own homes. They do the job of a normal secretary, as well as office administrative work. They would coordinate your e-mail, fax, telephone and postal service.
Many a time businesses running from home feel uncomfortable entertaining clients at their residential address. It simply doesn’t seem professional enough and can give a wrong impression. Virtual Office companies provide a perfect solution to this; you can rent an office conference room for a set number of hours. They make a safe place to conduct any kind of business transactions. What is more, you get all the facilities available at a general office and request for more to meet your requirements.
In this modern era, the cost of living including physical materials and goods is going up higher day by day. There is no one who wishes to invest much on any material thing. Every one wants less investment and more profit. Everybody wish to have their own business but it is an expensive option to explore it swiftly. But there is no need to worry….There is a solution i. e. Virtual Office.
Virtual office is a one stop solution to explore a business without expending much on its physical availability. Why should one invest on a real street address at an esteemed center, mail address for sorting and forwarding it to other location, phone number, and live virtual receptionists to make communication more easier when virtual office is facilitating all these at a very less expense and in no time. Now one can start their business instantly without expending much time on a physical business set up. For small business holders, virtual office is a really wonderful idea to let their business flourish. It also helps in starting a new business as it requires less investment in office hardware. It is a flexible option for smooth telecommunication as it can vary according to client’s requirements and budget.
In this present scenario only, it has become an imperative solution for every business holder to provide virtual office solution with less investment. Virtual office is a long lasting, secure and the easiest alternative. Day by day working from home is increasing. Every body wants to earn more in less time and virtual office is the ultimate solution.
In conclusion we can say that the technology of having virtual office will gain momentum in the future. Having a virtual office is an excellent solution to own a business either it is big or small.