The hardest part about beginning a startup company is coming up with an idea that not only fills an important void, but that no one else has already come up with. It is exceedingly likely that the first idea you come up with will not be a success. As such, it is imperative to not let yourself become discouraged by initial disappointments and to keep on pushing.

These popular techniques will go a long way towards helping you create new business ideas:

1. Try Your Best To Predict The Future

The entrepreneur who successfully creates a new business and can withstand the test of time is the one who is able to peer into their crystal ball and predict the trends of the future. While this process does require just a smidgen of good luck, a great entrepreneur knows that luck is merely the residue of skill and hard work. Luck does not come to those who park themselves on the couch and wait for it to come along, it happens to those who get up, get out there and work for it.

A top notch idea for a business is one that is ahead of the curve and anticipates changes in the landscape. The person who is monitoring current trends instead of future trends is going to come up with ideas that are instantly outdated. A decent entrepreneur looks at what is going on now and thinks of a way to fit in with the current landscape.

On the other hand, a great entrepreneur thinks about the future and wonders how they can create the next big thing, rather than an inferior knockoff version of the current big thing. Monitoring the current trends in the business world can provide some help when it comes to developing new ideas, but you have to consider the amount of time it takes to start a new business.

An idea that seems fresh in the moment is often past its sell by date when you are finally able to get down to brass tacks and start the process of opening a business. Consider the future and what place your product will hold in that future.

2. Consider The Things That Annoy You

I am willing to bet that there are many things in your everyday life that drive you crazy. One of my personal favorite ways to create new business ideas is by taking the time to consider the things about life that annoy you the most. If you hone in on the things that “piss you off,” you will be able to brainstorm real solutions to everyday problems. If you are are the type of person that feels like you have to “do things on your own,” this task brainstorming technique will come naturally to you. As I’ve come to learn from many authors on innovation, the best entrepreneurs are those who find out about what we lack most and discover a new way to provide the public with the needed item.

Invention is not a must in these scenarios, but it can help you to develop new ideas. Brainstorming about products that every human being would want, but have yet to be created is a great way to amplify the creative process and ensure that you remain ahead of the curve at all times.

Speak to people you know, as well. There are many instances where the things that annoy you and frustrate you will also annoy and frustrate them. Canvasing close friends and family can also provide you with important information about frustrations that they are having that you had failed to consider.

Consult with members of the opposite sex and ask them about their daily frustrations. A company that is able to consider a variety of concerns from various walks of life is one that will prosper in the long term. Having a narrow focus leads to a lack of creativity and should be avoided.

Most people prefer to avoid frustrating moments at all costs, but those who can train their mind to look deeper can find valuable business ideas that no one else has considered.

3. Consider Improvements To Existing Products

Just because you cannot create new business idea does not mean that you should give up on your entrepreneurial dreams. Some of the best and brightest entrepreneurs are those who analyzed the current marketplace, discovered inefficiencies that could easily be corrected and decided to do something about it.

This strategy is helpful for entrepreneurs who are struggling to come up with ideas of their own. Perhaps you are someone who enjoys a certain product, but finds it to be overpriced. This is your opportunity to research the product you enjoy and see if any changes can be made during any part of the process that can have a positive effect on the pricing structure.

Or, maybe you can take a closer look at what the major players in your desired niche are doing wrong. A company does not have to be the same size as the big boys to successfully compete with them. The playing field has never been more level and a person can learn a lot from what the major business in their field are doing wrong.

There are typically enough gaps in the industry that you seek to join that can be easily exploited. Perhaps there is a service that a major company should be offering that they have not thought of. By using this as your starting point, you can start a business that already has built in clientele.

Some larger businesses are no longer in the business of innovation, they are more focused on maintaining their current piece of the pie. If so, this also provides an opportunity to come up with an idea that takes a product that is already available to the next level.

Recommended books on how to create new business ideas:

The Dream Cafe by Geoff Crook
Seeing What Others Don’t by Gary Klein
The Myths of Creativity by David Burkus
One Simple Idea by Stephen Key
A More Beautiful Question by Warren Berger

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Once an entrepreneur has become established and they have built their business to a point where it can become self-sufficient or the infrastructure is strong enough to withstand a transfer of power, there are many questions that should be asked. Exiting a business that you have built is not a decision that should be made quickly, so take a moment to ponder the following questions before making a choice that could adversely affect your destiny.

Here are the top questions some authors on exit planning suggest entrepreneurs ask before exiting a business:

1. Is The Business Ready For My Departure?

Entrepreneurs often make the mistake of stepping away from their business too quickly, before the business has had a chance to grow to a point where exiting is feasible. Most business experts recommend taking at least two years to properly evaluate the marketplace and their business’ place in the landscape. Business trends that can torpedo everything you’ve built can emerge seemingly overnight and scuttle even the best laid plans.

In order to get the best sale price for your business or pass it down to the next person in line, you need to be able to show all of the correct paperwork. Entrepreneurs will often try to execute a rapid transfer, but you need a great deal of time to ensure that your exit goes smoothly. If you are planning on being able to exit your business within a month or two, you should reconsider this plan.

Putting together the correct plan for exiting your business takes years of careful preparation. Do not allow yourself to be swayed by those who present you with plans that entail walking away in a more expeditious fashion.

2. Who Is On My Team?

Before you exit your business and pass it on, you should know what members of your current team are going to remain in place after the transition has been made. You will also need a team that can help you through the transitional period. This means hiring experienced business attorneys, accountants and appraisers. If you are inexperienced in these matters (and even if you aren’t), you should bring in a consultant to provide valuable advice.

Having a team to guide you through the process of exiting your business gives you the help you need in avoiding a variety of common pitfalls. You should also know which members of your current team wish to remain on board after the transition period has been completed. Some team members may wish to exit as well, in order to pursue new opportunities. Others may decide that they wish to remain a part of the company, but may be concerned about potential changes to their role.

3. Is The Timing Right?

In the business world, certain periods are much more tumultuous than others. As a result, the timing may not be right for you to step away from the business that you carefully shepherded through its infancy and watched grow into what it has become. A lot of entrepreneurs choose the wrong times to sell their business or hand it down to the next person in line.

If you are trying to exit your business during a period of decline, don’t. In order to think like a true entrepreneur, you must strike when the iron is hot. The best time to exit your business is when things are on an upswing. Stepping away when you are at the peak of your powers is incredibly difficult, but necessary.

When you decide to remain at the helm during a period of prosperity, this is thinking with the mind of a business owners, not the mind of an entrepreneur. Make sure the timing is right before handing your company off to the next person.

4. Can The Business Continue To Thrive In My Absence?

Is whoever you are passing your business down to ready to handle the responsibility? Is there a strong infrastructure in place that will allow them to succeed, even after you are gone? A business that has become entirely too dependent on its owner is one that is doomed to failure, should they ever decide to exit.

The best businesses are the ones that can still run at maximum efficiency if the owner is not there. Take a moment and consider times in the past when you decide to step away. When you have gone on vacation, was the company able to run properly or were there a variety of hiccups? Or were you never able to go on vacation because you were worried about potential complications?

No one wants to see everything they have worked for crumble the moment they step away. So make sure you know for certain that the business can continue to thrive and grow without your constant presence.

5. Can I Stay On If Needed?

After control of the business has been transferred over, the new executive or executives may need your help to ensure that the transition goes smoothly. Are you willing to remain on board, albeit in a smaller, more advisory type of role? The person who you are handing the company down to could want your help and they may have a certain level of trepidation during the early going.

Before exiting your own business, be sure that the new regime has the ability to hit the ground running. If not, then you may need to stay attached for a little while so that the transition period is not as rocky. Staying on and becoming a consultant can help ease the growing pains for whoever you are passing your company down to.

Recommended books on exiting a business:

Finish Big by Bo Burlingham
The Exit Strategy Handbook by Jerry Mills
Sell Your Business for More Than It’s Worth by Michelle Seiler-Tucker
Final Act of Onwership by Jerry Baltus
The Art of Resignation by Steven Feiner

What questions do you wish you asked yourself before exiting a business? Share yours in the comments:

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While entrepreneurship is a path to a better life, there are many harsh truths that come with choosing this career option. It is not an easy route to untold riches and there are several issues that typically arise along the way. Unless you are fully capable of handling them, your dream of being an entrepreneur may die before it even has a chance. Read on to learn more about seven truths about entrepreneurship that are the hardest to swallow:

1. You’re Not As Useful As You Think You Are

When it comes to entrepreneurship, you are only as useful as the last product or service that you provided to your customers. No one is ever as useful as they think they are, no matter how many successes they’ve had in their past. The most important question that consumers ask of those who provide their goods and services: what have you done for me lately?

You must remain focused on the cutting edge and always have a new idea on top. Even the best entrepreneurs need to be coming up with new plans for the future, so that they can remain valuable to their loyal customers.

2. Success Breeds Envy

The more successful you become, the harder people will try to tear you down. There is no handbook for becoming successful and how to deal with it, so be prepared to handle the envy and disloyalty that comes your way. People who were once in your corner may decide to turn against you.

This is not because they don’t like you as a person, it is because they do not like your success. It makes them feel inferior, so as a result, they are forced to tear you down and poke holes in your triumphs. While some people see the success of others as a motivator, the majority of those who are in direct competition with you do not.

3. Personal Relationships Matter

Everyone is going to tell you that personal relationships do not matter and that entrepreneurship is all about who brings the best products to the attention of the consumer. This may be true to a certain extent, but personal relationships are also of extreme importance.

Talent and hard work can only get a person so far, in certain scenarios. An entrepreneur who has connections and combine their talent and hard work with their ability to open doors will usually get much further than someone who does not have any connections and is forced to open these doors by themselves.

4. Money Does Not Solve Every Problem

Entrepreneurship is a field where simply throwing a bunch of money at a problem does not make it go away. If your products aren’t good enough, if you are unable to connect with people, if there is nothing for the consumer to grab onto, there is no amount of money that a person can spend to make those kinds of problems go away.

In order to keep your business functioning, you need a large reserve of cash on hand at all times. If you decide to spend all of your discretionary funds to put out every fire that comes along, you won’t have anything left to deal with the day to day expenses that come with running your own business. A person must get used to solving problems with their brain and not their wallet.

5. Do Or Don’t Do, There’s No Such Thing As “Trying”

To paraphrase Yoda, there is only what you can do what you cannot do. The consumer does not care to hear about your trying or what you might be able to do. Can you deliver on what you’ve promised or not? Everything else is merely window dressing. Unless you can live up the promises you make to your consumers, they will take their business elsewhere.

Without delivering on your promises, all you are is a big talker and no one likes a big talker. Word will get out about your ability to talk the talk and your inability to walk the walk. Once this happens, that is a death knell for your career as an entrepreneur.

6. Investors Don’t Care Unless There Is Money Involved

Your relationships with your investors have nothing to do with the flowery speech that you gave them or the wining/dining you did. The health of your relationship with your investor depends on one factor and one factor only: your ability to continuously make them money. If you start to make more excuses than money, this puts a strain on the relationship.

No one cares about the sad times that happened in your past. Nor will they care to hear about whatever passion project you have or the sob story that led to the loss of their money. When it comes to entrepreneurship, money talks and experienced observers already know what walks.

7. You Are More Likely To Fail

Most entrepreneurship endeavors fail. This is not meant to discourage a potential entrepreneur from trying, this is merely the statistical evidence that is currently available.

Three quarters of all start up businesses end up failing and this is not because of a lack of ideas. It is much harder to make a business work over the long haul that people believe. There are many businesses that did well during their first year, only to crash and burn because the entrepreneurs running them were not prepared for success. The majority of entrepreneurs fail before they ever succeed.

Recommended books on the truths about entrepreneurship:

Lifestyle Entreprenuer by Jesse Krieger
The Entrepreneur Mind by Kevin Johnson
Unstoppable Entrepreneurship by Ilkka Lavas
What’s Next by Michael Price
Everyday Entrepreneurs by Ken Horn

What’s one of the most hard-to-swallow truths about entrepreneurship you’ve encountered? Share your story in the comments below:

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6 Practical Tips to Become an Effective Entrepreneur

When you start on your entrepreneurial journey, you are sure to hear one important piece of advice – you need to maintain a work-life balance. But what exactly does it mean? Does it imply that you divide your day into two equal parts – one dedicated to work and the other to life? Not really!

Work-life balance implies that you put equal emphasis on the two. But it’s easier said than done. It can be difficult to think of your life separately when you have to juggle numerous roles and handle numerous responsibilities. So, what do you do?

Here are a few tips that can help you become an effective entrepreneur:

Tip 1: Remember why you decided to be an entrepreneur.

If you started because you loved what you did and wanted to do what you loved, work will never feel as a burden. And while it can take up most part of your day, especially when you are just starting out, it will not make you feel as if you have wasted it.

Tip 2: Schedule your day.

Not just the work portion, but every part of it. And try to stick to your routine. There will be times when you have to reschedule a meeting or attend your child’s ballet recital. But otherwise, you need to plan out how you will spend the day. This way you can avoid the fear that something you wanted done won’t be on done on time.

Tip 3: Don’t set yourself up for failure.

Setting a big goal for the year isn’t a good idea. Instead, focus on smaller goals that you need to achieve within a week, or may be a month. It will make you feel good when you achieve these smaller goals. And it will also help you attain the bigger goal you want to achieve in the long run.

Tip 4: Don’t neglect your health.

While you may love to handle every little detail for your business, if this means that you skip your breakfast, miss your exercise or don’t get enough sleep, it isn’t really the best thing for you. Eat healthy, exercise regularly, and get enough rest; and you’ll see what a difference this little things make in your life.

Tip 5: Set aside some ‘me’ time.

Taking care of your physical health isn’t the only thing you need to do. You need to refresh and re-energize your mental and spiritual self too. Go on a date, indulge in a spa break, plan a vacation, or do whatever you feel like. And switch off your Smartphone and leave your laptop behind on these occasions.

Tip 6: Remember your family and friends support.

Be grateful every day for how everyone in your circle of life helps and supports you. It may be your spouse helping with housework or a business associate chalking out a financial plan. Say thank you whenever you feel; expressing your gratitude always makes you feel better.

Being an entrepreneur doesn’t necessarily mean losing sleep or finding no time for it altogether. If you love what you do, you can build your business into your lifestyle. And this way, you will be able to achieve the right balance between work and life.

Also, don’t stress about balancing your work and life. It will only mess up things even more. Instead, focus on what you need to do to stay healthy and happy. And when you love your work as an entrepreneur and be part of your circle, you will find that the work and life portions works out on their own.

Recommended books to help you become an effective entrepreneur:

The One Thing by Gary Keller and Jay Papasan
Grow A Pair by Larry Winget
Procrastinate on Purpose by Rory Vaden
The Energy Bus by Jon Gordon
Virtual Freedom by Chris Ducker

What other books have you read that helped you become an effective entrepreneur? Share with everyone in the comments below:

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7 Reasons Why You Should Quit Your Job

Is it a good idea to quit your job and chase your dream of being an entrepreneur? Well, there are numerous reasons that tell you not be so foolish as to quit a job that pays you well and helps you live the lifestyle you do and go down the road of uncertainty. But life is too short not to live it to the fullest either!

Need a few good reasons to quit your job and start on your own? Here are 7 that will help:

1) You are stuck.

If you feel that you work, but you never achieve anything, it may be a good reason to quit. Sometimes you get too comfortable in a job to notice that you are stuck in stagnant waters. Do you accomplish anything? Do you make an impact? Do you feel that you have a purpose? If you answered no to any of these, it’s time to move on.

2) You have lost passion.

Do you wake up every day and think – why do I need to go to work? Some parts of your job are sure to suck. But if there are no parts that you look forward to (it doesn’t necessarily have to be fun, it can be motivating, challenging, stimulating, or anything else), it isn’t really the best opportunity for you.

3) Your pay doesn’t reflect your work.

You put in your best at work. But if you are just working to build a career for your boss, it won’t amount to anything in the long run. Your pay including the perks and benefits you get as well as the way it boosts your career matter; and if it doesn’t reflect how much you put in at your job, it’s no good.

4) You want to do what you love.

Sometimes, the job you want isn’t even there; you need to create it. And what better way to do it than to leave your job and start on your business? So, whether you want to write a book, start an online handmade jewelry store, or offer after party cleaning service, the best time to do it is now!

5) You need flexibility.

Certain circumstances may make it necessary to have a flexible schedule; and a regular job may not be able to offer you that opportunity. When J. T. O’Donnell wanted to spend more time with her kids, she moved from the corporate world and concentrated on building her virtual career coaching venture Careerealism.

6) You want to push yourself to the limits.

Can you make it with the skills you have? Can you make the money you have stretch to meet your business needs? Can you create and manage a team that will work towards a better future for them as well as for the business? When you take the entrepreneurial road, you are sure to find out!

7) You desire success.

It’s true that no business can succeed in a day. But it’s also true that your business may have the potential to succeed in time. If you crave to be a success; and are always depressed because you cannot attain it in your present job, it is time to move on and start something where you know you’ll accomplish what you want.

But before you take the leap, you need to exercise caution too. How do you do it?

The best way is to prepare for the uncertain times. Don’t fail to put aside at least the amount that will see you through for 6 months (you’ll still have to pay for food, gas, and such necessities). If possible, opt for a part-time job at the beginning; so that you’ll have a steady source of income when you are waiting for your business to break even.

Recommended books on entrepreneurship and quitting a job:

The Art of Resignation by Steven Feiner
What’s Next by Michael Price
You Can Retire Sooner Than You Think by Wes Moss
The Freaks Shall Inherit The Earth by Chris Brogan
Everyday Entrepreneurs by Ken Horn

What has been your biggest struggle with becoming self-employed? Share your story in the comments below:

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Do you have what it takes to be an entrepreneur?

Realizing the answer to this question is often a difficult task. And often, it takes a series of hurdles for you to identify this trait in your personality. But how do you know whether it is right for you to quit your day job and start on a venture of your own? Well, there is no easy answer to this.

The good thing is that most entrepreneurs share certain characteristics. If you can identify with these, chances are high that you may have that entrepreneurial spirit in you. But don’t despair if you don’t fit them all.

Let’s take a look at some ways to tell if you have what it takes to be an entrepreneur:

You have a passion to do something. Passion for what they do is what drives the successful entrepreneurs. Edison tried and failed 10,000 times before he could design the light bulb. We may have had to do with candles still if he had given up. But he had the passion that drove him to success. Do you have the same?

You have a seriously poor employment history. Have you quit more jobs than you can remember? Not because you were not good but because you felt you were stuck – maybe even at the top when even success gets stale. If so, the next best thing is to start on an endeavor of your own where you can effectively and efficiently manage yourself.

You have the nerve to take risks. Fred Smith nearly failed his business management course when he developed a business model that focused on express delivery service. But this did not deter him from putting his thoughts into action. And FedEx was born. All entrepreneurs aren’t overnight successes. But they have the courage to follow their dreams.

You think outside the box. When the worst financial crisis hits the world, many entrepreneurs cowered in front of it. But Sarah Lavely saw an opportunity. She offered people the opportunity to vent out their frustration and relieve stress in an amazing way – throwing stuff at a wall after you buy it.

You have a broader perspective of security. For some, a secured job is a good enough thing. For others, there is no security at a job that depends on others. You never know when a silly or spiteful decision of a boss or a mess-up of the board of directors will screw it. For such souls, security is only in a job where you yourself are responsible for everything.

You have the determination to get back on your feet even after a bad fall. If you mope after every little failure, it’s best to avoid entrepreneurship. Successful entrepreneurs get back on their feet immediately after they face failure. Take Bill Gates for example – his initial Traf-O-Data was a super failure. But he moved on and became a success.

You have the support of people close to you. No entrepreneur is a success on his/her own. They need the support of their family and friends to make it through the tough times – and there sure are enough of those! Also, successful entrepreneurs never surround themselves with “yes-men”; instead, they depend on truthful advisors who can tell all at their face.

It doesn’t take a superhuman to succeed in business. But it does require the right traits to be happy and successful at it.

If you fit all these seven signs, then you have the most of what it takes to be an entrepreneur. If you don’t, no worries! There are no sure formulas to success and you may turn out to be an amazing entrepreneur even if you had a successful career as an employee. In the end passion and motivation are the key aggregators of a true entrepreneur.

Are you searching for some excellent resources on how to be the best entrepreneur you can be? I recommend the following books to add to your personal library:

Lifestyle Entrepreneur by Jesse Krieger | Check out Jesse’s exclusive deep dive here
The Freaks Shall Inherit The Earth by Chris Brogan | Check out Chris’s exclusive deep dive here
The Financially Savvy Entrepreneur by Emily Chase Smith | Check out Emily’s exclusive deep dive here
The Suitcase Entrepreneur by Natalie Sisson | Check out Natalie’s exclusive deep dive here
The Entrepreneur Mind by Kevin Johnson | Check out Kevin’s exclusive deep dive here

What is one thing you have learned as a result of being an entrepreneur? Share with everyone in the comment below:

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Who is Napoleon Hill and Everything An Entrepreneur Should Know About Him

Have you ever wondered why some people are so successful when millions out there are breaking their backs to make ends meet? Of course they are not doing anything out of this world nor have they been blessed by the gods. This is one question that many wantrepreneurs and aspiring business people have been asking for years and thankfully, we have Napoleon Hill’s works among us providing the answer.

Who is Napoleon Hill? Well, he is considered by many as one of the most popular motivational authors of all time. Of course, he did not find the “holy grail” of business success and marketing but he did produce some of the most amazing books on business success that have inspired millions of people around the world.

Born in October 26, 1883, Napoleon Hill is considered as one of the proponents of the new thought movement and probably he is the precursor of the literary genre which is today known as personal success literature. Known and celebrated as one of the most successful writers on success, he has authored the bestselling book of all time – ‘Think and Grow Rich’. Amazing as it might sound, 20 million copies of this book were sold throughout the world before his death. He delved deep into the psychology of successful people and tried to figure out their mental prowess that leads to their immense success in the world of business. Even at some point of his life, he became an advisor to President Franklin D. Roosevelt and this shows how influential he was in his days. Throughout his life, he tried to find the elusive formula that he strongly believed can transcend a normal or regular guy into a person with success.

If you have ever heard these beautiful and powerful words like – “Anything the mind of man can conceive and believe, it can achieve”, you have got an idea of his authority on this particular literary genre. He had interviewed successful people from different walks of life and reached the conclusion that there are certain characteristics that have made these people so successful in their lives. He went on further to say that if common people like you and I can emulate the characteristics of these wealthy persons the chances of successful in life will increase manifolds.

In his book ‘Think and Grow Rich’, he laid out 13 easy to follow rules that he wants us to believe have the secret sauce of success. Okay, we are not saying that whoever read this book is going to be the next billionaire. Well sadly, the world not such a beautiful place. Rather this book contains some practical advice on how to make money, be a greater leader and to be uber successful.

The book has an interesting history. Andrew Carnegie was the person who encouraged Napoleon Hill to start his quest for the secret formula of success. Andrew Carnegie a business tycoon in his days steadfastly believed that success could be defined via a single and simple formula. During an interview of him taken by Napoleon Hill, he got so much impressed that he assigned the job to Napoleon. He asked him to take interview of 500 (+) men and women to find the secret of success. Some of the famous people that Napoleon Hill interviewed are – John Wanamaker, Theodore Roosevelt, Charles M. Schwab, Henry Ford, Alexander Graham Bell and more. The result is his magnus opus – ‘Think and Grow Rich’.

Are you interested in learning even more about the lessons and fool-proof advice from one of the greatest business men and authors of all time?

Check out his amazing book and an interview I had with the director of the Napoleon Hill Foundation, Don Green:
Think and Grow Rich by Napoleon Hill | Listen to my interview with Don Green here

Has Napoleon Hill and his legacy changed your life?

If so please share your experiences and success in the comments below.

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The Secret History of Entrepreneurs 20 Years Ago To Now

Let’s imagine for a second that Time Travel is possible [theoretically it is possible though] and it is possible to travel back to 1994. What world are you going to behold? The idea seems very tempting but the million dollar question is what differences as an entrepreneur are you going to observe? Forget about searching in Google because in 1994, the idea of Internet was in its infancy. Only the fortunate few had the opportunity to take a sneak peek of the virtual world. Let’s go back in time to take a peak at the secret history of entrepreneurs.

Promoting a product or service 20 years back was a different ball game altogether. There were no such tools like UserTesting in those days and that means getting direct and impartial feedback from your targeted audience was out of question. In simple English, you would have found yourself stuck in the middle of nowhere and the only way you would have been able to promote your products or service was by approaching the targeted customers directly.

It feels so strange that 20 years ago entrepreneurs had to face so many different hurdles in their day-to-day activities and still they managed to meet deadlines and expand their business. Thankfully, we can manage and overcome those hurdles easily by tapping into some productivity apps already installed on our iPhone. Even phone connectivity was not wide spread on those days. You literally had to meet people in person, talk to them and try to convince them that your service/product is going to help them fix things. Yup, in those days, you had to do it all by yourself. Posters, leaflets, business cards used to do wonder in those days. You might find it amusing but customers used to call companies in order to gather more information about the products in those days.

Solo entrepreneurs were experimenting with new ideas, bringing in new products, and exploring new opportunities. During the last leg of the 20th century, we have seen entrepreneurs with remarkably amazing visions coming out of their closets. We have seen the birth of Google [currently the world’s most popular search engine], we have also seen the rise of the Amazon group and we have witnessed growth of space age entrepreneurs like Peter Diamandis of Planetary Resources. In short, we have seen it all.

Some of them are immensely successful whereas some of them failed to make it big, but one thing is certain that entrepreneurs have shaped the way we see the world today. However, there is a fundamental difference between today’s entrepreneurship with that of entrepreneurship of yesteryear.

Ten or twenty years ago, the concept of research and development was largely limited to big corporate organizations, but things have changed quite rapidly in the past few years. Nowadays even small companies, thanks to the investment by venture capitalists, can spend more time on research and development which is definitively something positive.

Entrepreneurial activities in the late 20th century were not that much complicated and they used to focus on short term solutions to ensure long term success because of the lack of tools to gauge the market conditions those days. But thanks to the massive penetration of internet service in the first half of the 21st century, entrepreneurial activities have become less complicated, less time consuming and less intimidating.

Of course internet and the massive development in the field of technology have leveled the playing fields for new entrants. Previously idea of entrepreneurship was only limited to few influential people who dared to try new things, but things have changed dramatically. Now anyone with a computer and internet connection can start an affiliate business right from the comfort of his home. Is that not remarkable?

So, technically speaking, the style and history of entrepreneurs might have changed over the years, but the spirit has remained the same.

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The Advantages of Technology in the Life of an Entrepreneur

Entrepreneurs are the driving force that keeps our economy rolling. But the life of an entrepreneur is not that rosy. They have to take an insane amount of risk, swim against the tide and have to come up with new ideas to emerge as successful entrepreneurs. As evident, managing all these different activities simultaneously is immensely tough. Just like any other human beings, Entrepreneurs are also in need some assistance so that they can do their job in an efficient way. Thanks to the massive advancement in the field of technology in the past few decades, lives of the entrepreneurs have become much easier. Here in this article, let’s take a look at how the advantages of technology can play an important part in entrepreneurship:

Marketing
What good is a business if nobody knows about it? Every entrepreneur knows it very well that the message of their business organizations need to be delivered to their targeted audience at any cost. Unless people know about your product or service, you simply can’t expect your business to survive for long.

Distributing leaflets, participating in events, talking with people on the street etc are definitely effective but it will need lot of manpower and money. Thanks to technology, we don’t have to knock on every door that comes along the way. We can try Mailchimp instead. It is cool way to send newsletters to your customers. Maybe you should try Google Ads to reach out to customers when they are searching on the web or browsing other websites.

Market Research
Market research is the best way to understand what your targeted audience actually want and avoid a disaster. Without a proper market study, you will find yourself tasked with the job of selling refrigerator to Eskimos.

Traditional market research methods are still effective and should never be replaced with online tools. However, going out in the street, meeting people, asking for their opinions, getting them filled out long form etc is really tough these days given the fact that most people are extremely busy these days.

So, let’s take a short route. You can do some market research online by using Google Global Market Finder. You can do market research by country or by language. The tool gives you a fair idea about how many people are searching with a term in a specific region. Say for example, if nobody is searching for ‘solar cooker’ in a locality, it means that not many people are interested in it. However, if your product is unique, this tool might not prove this much effective.

Social Media
Since you are an entrepreneur, you have to stay connected to other influential people on different social media channels. Also you need to keep these channels updated whenever you can. Now, managing all these different social channels is too much to handle for an entrepreneur. Try Ping.fm to manage all your social media accounts instead. It comes loaded with a single control panel. It can be integrated with Facebook and Twitter seamlessly, which is an added advantage.

Tracking
Tracking the tasks at hand, meeting deadlines etc are very difficult because of the hectic lifestyle we are leading. You might find yourself lost and may miss out on deadline. Probably, you are in need of Basecamp – a cool project management collaboration tool. This tool has been embraced by both big and small businesses around the world. Basecamp is inarguably affordable, easy to use and intuitive. It helps you keep track on things and also allows other people to collaborate with you.

So, it would not be off the mark to say that the advantages of technology are shaping the lives of the entrepreneurs and also the way, they used to work. Embrace it and you will be okay.

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7 Unique Styles Of Entrepreneurs

What makes an entrepreneur? The ability to transform an idea or innovation into a successful enterprise is what distinguishes a style of an entrepreneur. But, unlike what you may think, not all entrepreneurs are created equal.

Different approaches, different goals, different attitudes make different entrepreneurs. And the differences may not be as pronounced at all times. The question is – do you know which kind of entrepreneur you are?

Before you find out the answer, let’s take a look at the 7 unique styles of entrepreneurs:

Wannabes – Well, they always want to get out of their regular work life and make something big. But that is all they do – they theorize. Wannabe entrepreneurs are always full of ideas about how they can make money only if they had some funds or resources.

The basic idea behind their grand schemes is to get out of their life as an employee at an organization. They are lured by the enticement of freedom, choice and success; but without the capabilities and skills, they always remain where they are.

Survivalists – When it is all about survival, little or no long-term benefits can be achieved. And this is exactly what happens to this category of entrepreneurs. They work just to keep their ventures afloat.

Be it a shop selling trinkets and accessories or a professional offering plumbing service, if they don’t have any long-term goals, they will just survive on their daily earnings. And never turn their efforts into a successful venture.

Managers – It’s good to have some experience of working in a startup before you venture out on your own. But if you are stuck in that role, you will never work on your business; you will always work in it instead.

The focus of managerial entrepreneurs is on the day-to-day work of the entire team. And they fail to pay attention to the other important aspects of it. And that’s why their businesses remain good, but never become great.

Innovators – If you can think on your feet, you have the ability to face and handle different, and difficult, situations. An innovator can do this. When Edison said “I haven’t failed, I’ve found 10,000 ways that don’t work”, he meant it.

The attitude is what distinguishes an innovator from a failure. Even Bill Gates failed with his initial venture Traf-O-Data. But he didn’t give up, and went on to become one of the most successful entrepreneurs of all times.

Revolutionaries – What is your goal as an entrepreneur? It’s good to focus on how you can change the world. But as an entrepreneur, you have to focus on other, and more, urgent issues at hand.

For an entrepreneur, it is important to pay attention to profits. And then you have all the opportunity to focus on the good to mankind. But if you take the other way round, you are in for some serious trouble.

Calculators – In a similar fashion, if your sole focus is on the money you make, you’ll soon be swallowed up by the figures. Ending up like Uncle Scrooge thinking about profits won’t be such a nice thing, after all.

The best idea is to maintain a rational balance. Don’t get it wrong; it’s important to get profits if you wish to succeed as an entrepreneur. But it’s also important to focus on the other points such as innovation in products, betterment of services, and so on.

Opportunists – It doesn’t sound too good. But it is perhaps the best approach you can take to be a successful entrepreneur. These entrepreneurs think about the chief reason behind their desire – many love the freedom to do what they want.

They also consider the chances of success of their idea or innovation. And then look for opportunities to make an entrance into the specific industry and the niche. And once they find it, they follow a stepwise process to turn their idea into a successful endeavor.

Lifestyle entrepreneurs do what they love and love what they do and become successful.

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