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Tips For New Entrepreneurs

Entrepreneurship - Living the Dream

Every person has the opportunity to chase the American dream, and for some, that means stepping into the world of entrepreneurship. It can be daunting to put action to a dream, but every successful entrepreneur is driven by the allure of success and seeing his or her vision come to life.

Get on on board the ship, the entrepreneurship.

Success is often hard won, bought with years of hard work, failures and disappointment. While successful entrepreneurs are often perceived as “overnight sensations,” many people fail to notice the perseverance that it takes to get to that point. These people are dreamers, motivated by the conviction that they have something to offer the world that is new, needed and exciting.Entrepreneurship

Aspiring entrepreneurs, or those who have been following their passions for years, may consider the following tips for their journey to success:

  • Never stop learning. If you have something to offer the world, you better be the premier expert on that product or service. Learn about everything related to your passion so that you can speak with conviction as you sell, inform or introduce.
  • Have a long-term vision. It is impossible to predict success, but you should always plan for it. Mapping out your vision for the month and year can be a visual reminder of what you need to do to meet that next goal.
  • Put strong people around you. It is very hard to have a successful one-person operation. Surround yourself with people who have strengths that compliment your weaknesses. Not good with grammar? Have a highly skilled individual write copy for your website. Not good with money? Hire a reputable accounting service. It is okay to admit that you cannot do everything alone. 

EntrepreneurshipEntrepreneurship is not a ticket to overnight success. Instead, it is a journey of hard work and passion to see a dream eventually come to life. For those brave enough to keep going, take heart–your moment could be just around the corner.

Entrepreneurs Academy

Saving Money Isn’t Always the Answer, and Here’s Why

It is just about time that we toss out the old phrase “A penny saved is a penny earned.” This mindset might have been relevant and even helpful in the past, but today’s business owner needs to take a different and more daring approach.

Pop Quiz

Is money reinvested into your business considered spent money?

If you answered no, congratulations, you earned an A. If not, well, let’s take a moment to evaluate exactly what is going on in your profit margins.

Startups might not climb out of the red for the first several months of being in business. Depending on a variety of factors, some businesses might not ever see a profit until after the first year. This is fairly normal in the early days of any entrepreneurial adventure, but it can make it even more tempting to begin stashing away profits as soon as they begin to roll in.

But what exactly is all that money doing in an account? Chances are that a typical savings account will not yield an appreciable interest rate, so all of that hard-earned cash is mostly languishing there, unused. And your profits? Steady, but plateaued.

Now, imagine what would happen to those profit margins if a percentage of monthly profits was immediately reinvested back into the business. Product development, employee benefits, marketing and customer satisfaction can all see improvement from something as simple as taking 20 percent of your profit and putting it to work in your company.

For most business owners, 20 percent is a good rule of thumb. If your profit margins were $1,000 for the previous month, take at least $200 of that and put it right back into your operations. This still leaves you with $800 to do with as you’d like, although there is certainly no limit to the percentage that you can reinvest.

So, how long should you continue reinvesting at that 20 percent rate? For the answer to this question, you’ll need to consider what your desired level of wealth looks like. When your business reaches your ideal profit margin and you are satisfied with its operations, take the same 20 percent and consider outside investments. A steady monthly profit from your business combined with a solid investment portfolio can create a continuously growing fountain of wealth for dedicated entrepreneurs.

Use Videos to Double your Affiliate Sales

Successful blogs thrive because of a variety of reasons, including building trust with readers and providing engaging content. However, a blog for any topic cannot thrive without one very important factor — excellent writing skills. A keyboard and word processor are the domain in which most pro bloggers have built their empires, which can make stepping out of that comfort zone difficult.
However, there are enormous advantages to including videos in affiliate blog posts. Reading truthful and thorough reviews of an affiliate market is enough to get a percentage of visitors to follow a link, but the rest might need a more visual approach. If you’re still uncertain about adding a visual component to your affiliate reviews, consider the following:

 

  • Some consumers only like to purchase products that they are certain work as advertised. Watching a video of a reviewer actually using a product can be hugely encouraging.
  • Providing both written and visual reviews of a product helps grow your position as a dedicated affiliate marketer who provides valuable content.
  • Seeing the person behind the blog can strengthen visitors’ trust. Not only are they reading what you have to say, but they get to hear it straight from your mouth too. Trust, as we all know, is necessary to continuing to operate any affiliate sales business.

 

Videos do not have to be long, fancy or in-depth, but they should still be informative and on point. Address your readers directly before launching in to your review and make sure you also close out the video with a farewell. Helpful tip: don’t be shy about making eye contact with the camera!

Stop Wasting Time Using These 3 Tips

Not enough hours in the day? Heading to bed despite still having unfinished tasks? Still wasting time? Time is not just for figuring out when your favorite TV show will be on, and, in the world of online business, time is a precious commodity. Wasting time on unimportant tasks or rushing through tasks due to poor time management is a recipe for disaster. Whether you are in the early days of your startup or a seasoned pro, no one is immune to the distractions of life. If you’ve fallen off track, here are a few quick tips to get yourself back into the groove of time management:

Yes, you do need a to-do list.

To-do lists get a bad rap from TV shows and movies where they are often seen in the context of an overbearing spouse, boss or friend. But, do you remember when you forgot to take your grocery list to the store with you the other week and then had to go back twice for things that you forgot? Not only was it a waste of your time, but it was also a waste of gas and, subsequently, money. The same concept applies to business. Your time is money, so make sure it gets directed in the right places. Start the day off by making a to-do list of the most important objectives for the day.

Take breaks when you need them.

A lot of people seem to find taking breaks counterintuitive to being productive. Instead, people like to charge straight through task after task on productive campaigns until their to-do list is entirely completed, but this type of behavior can only hold up for so long. Eventually, exhaustion (either physical or mental) will set in and those same forward-charging people will be back at square one. Productivity is not about racing through one item after another but is instead more of a focus on pacing. Plan and allot time for the items that need doing, but remember that you are a human being and schedule in those breaks for yourself.

Don’t start the day with email.

Considering that reading and replying to emails tends to be the one of the most-hated tasks of the day, don’t make it the first task of the day. Beginning the day with a more pleasant or well-liked activity is an easy way to get yourself pumped and going for the day. Of course, if you like email, then by all means hunker down with it first thing, but if not, pick another task on your list to be the first of the day. Maintaining steam and focus can be difficult even for those who have been in the game for years. Creating daily lists, taking a few minutes a day for yourself and knocking the easy tasks out first are just a few simple ways to get yourself right back on track.