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Common Mistakes Made When Starting a Business

It is estimated that something like 20% of new businesses fail within a year of starting up, and 50% within the first three years. These are grim numbers, especially for anyone who is considering starting up their own business. Fortunately, there is an upside, looking at those figures in a slightly different way, 80% of all new business survive their first year and 50% make it to at least three years.
What anyone looking to start their own company needs to do is to analyse what the businesses that succeeded did, that the ones that failed didn’t. There are in fact a number of common mistakes that failed businesses have made and knowing what they are will give newcomers the necessary knowledge to help them avoid falling into the same trap.
Business failures are often blamed on insufficient start up capital or not hiring the right people. The truth however, is that the failure of many new businesses comes down to something far closer to home, a failure to thoroughly research the potential viability of the business in the first place. Believing you have a great idea and throwing money into getting it up and running, without first having undertaken proper market research is the number one killer for the majority of new businesses. Fortunately there are ways to avoid this by carrying out relatively simple surveys yourself, without breaking the bank on expensive market research organisations before you have even begun.
Test out the viability of your business by asking the opinion and advice of your own network of contacts. Take a look at government data on such things; it is almost always available completely free of charge. Take a look at businesses operating in areas similar to yours and see if they are succeeding or failing. If they are profitable take a look at why, and find out whom they are selling their products or services to. One of the most common mistakes made by new businesses is that of over estimating the market impact that they will have. Setting up in a larger than necessary office or shop; hiring too many people and purchasing unnecessary and expensive equipment based on cash flow projections that have more to do with hope than reality, are the quickest ways imaginable to send a new business to the wall.
The importance of accurate market research and enforcing a strict cost control regime cannot be overstated. Never be afraid to seek professional, expert advice on financial issues, preferably from an experienced business accountant or financial adviser. Make sure you have enough money to get your business idea up and running and have contingency plans in place should it fail to take off in a short period of time. Also be aware that situations can arise that are entirely beyond your control, such as interest rate rises, for example. Having healthy cash reserves to get you through an unforeseen crisis is an absolute requirement in this day and age.
A professional business plan is an essential tool for starting up a new business successfully and it is highly advisable to draw one up, or have one drawn up for you, before you embark on your new business venture.
If you can avoid these common mistakes, your business will have a much greater chance of becoming the profitable success you obviously expect it to be.It appears that your web host has disabled all functions for handling remote pages and as a result the BackLinks software will not function on your web page. Please contact your web host for more information.…

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Kill the Starving Artist!

“I’m going to do it. I’m going to start my own business.”

Chances are you said that or something like it at some point in your career. And here you are, a solopreneur with your own company, reaping the rewards of having control of your own career. Ain’t it great? Or maybe not so great? Perhaps things aren’t quite how you had pictured them. Or it’s taking longer than you thought to get traction. Or there are loads of tasks and decisions that you have to attend to that you hadn’t anticipated.

It is pretty common for a different reality to hit us once we take the leap into solopreneurship. Often it’s a deep passion that motivates the transition, and with our heart leading sometimes the head needs time to catch up. Too bad this isn’t all there is to it.

In all the years that I have been a solopreneur and I have coached solopreneurs, there is one obstacle that keeps cropping up. No matter who, no matter what, no matter where-this obstacle is the single biggest hindrance to the forward progress of the solo business owners around the world.

In short, the biggest obstacle to your success . Not you, the person who believes passionately in your business and who is willing to do whatever it takes to be successful. Not you, the one who knows you can do it. I’m talking about the part of you whose beliefs will keep you spinning your wheels or taking two steps back for every three steps forward.

This is the part of us that I call the Starving Artist.

The Starving Artist whispers things like this in your inner ear:

You have to earn your success, and it takes time to do that.

It’s going to be hard, but stick to it and you’ll get there eventually.

There’s no gain without pain.

Suffering is what brings out your creativity.

Let go of your suffering and you’ll lose that creative spark.

Money corrupts, and wanting to make a lot of it is not a noble goal.

Any of that sound familiar? Essentially, the Starving Artist embodies all the limiting beliefs you have about your own knowledge and abilities. They may have come from parents or teachers, from siblings or peers, or from decisions you made about yourself and about how the world works. Wherever they come from, these beliefs will sabotage you and the growth of your business.

What does your Starving Artist say to you? If you have a hard time answering that, try this: What repeating patterns in your business have held you back? Here are a few examples that indicate the influence of the Starving Artist in your business:

Your only clients are people who can’t pay your standard fees or who pay really slowly after a lot of follow up.

You seem to have a portfolio comprised only of “difficult” or high-maintenance clients.

Every time you have a big, exciting success, it is followed shortly by something that limits or negates it.

You go through frustrating up and down cycles that end up keeping your business in the same place or, worse, slowly eroding.

What can you do about your Starving Artist? Well, it may sound extreme, but you’ve got to KILL the Starving Artist to be successful. Unless the Starving Artist is killed, or at least silenced, there is no action or strategy that will have a lasting positive impact. That inner saboteur must be eliminated before breakthroughs can happen. This is why whacking the Starving Artist is the very first thing we tackle in my coaching program.

If you have not bound and gagged or, better yet, killed, your Starving Artist, I strongly urge you to get to it. You will be amazed at how much faster and more effortless your business growth becomes once that pest is stifled!…

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Entrepreneurship Test – 7 Questions For an Aspiring Entrepreneur to Ask Themselves

I did not always have an entrepreneurial mind; as a matter of fact, when I graduated college, I was very lost. I was working at a software company and for a few more thousand dollars, took a job at a large public company (you would laugh if I told you the name). I was doing account management for their financial clients. Because it was a work from home position, the only thing I managed was the couch and DVR. After trying to ruffle a few feathers and really make a difference in the company, I was gradually ousted from “the group” and was eventually pushed out. I wasn’t fired, but I was put in a situation where it was either / or.
Though, at this firm, I learned the true definition of the word “complacent.” This brings me to the first question which I will put forth to get your brain in gear. Please keep in mind that these questions are here to help you as they will give you some guidance as to whether owning your own business would be right for you.
1. In twenty years, one day your son or daughter will be asked about you. More likely than not, the first thing that will come up is your career. How do you think they will describe your career and your job? Does that answer resonate well with you?
If the answer is fine with you, there are two presumed scenarios. The first is that you were very successful and enjoy reading about entrepreneurs on the web. Thus, I am flattered you are reading my article. The second is that you, more likely than not, do not have an entrepreneurial frame of mind.
2. How much would you invest in yourself? If you had to put a net worth on your brain, would it be more or less than what someone else is paying for it? Also, is that someone even using your brain?
If you’re like many and are in this situation, you have to work harder to become an entrepreneur for a few reasons. The first is that your brain is not being put to work on a daily basis, so you have to get that going. Additionally, because of the economy, it is very scary to go off on your own. So choose your time wisely, but don’t put it off too long.
3. If somebody put you out on the street and gave you $10,000 – everything else is gone. How much of that money would you spend on books?
If the answer is less than $1,000, you probably are good where you are at. This is a great test as entrepreneurs don’t create something out of nothing, they create something out of learning. Books are such an important factor of business success. Remember, in this case, you do not have the internet which shouldn’t be relied upon too heavily anyway.
4. If somebody offered you a million dollars to never work again, would you?
Entrepreneurs like the game. Entrepreneurs get a rush out of the results they product. Ever wonder why Brett Favre didn’t retire when everybody told him to? He is a competitor. He obviously was not doing it for the money; it’s the game that is important to the entrepreneur.
5. Do you understand the concepts of bad bets?
Don’t consider yourself an entrepreneur or risk taker because you sit at a blackjack table in Atlantic City. If you do now, during your next game of 21, look around you and the subsequent people. Forget about their fancy watch and attire. They are not that successful. Stamp my guarantee on that statement. I learned this as I used to look up to these people in my early 20’s.
Every now and again, you may see somebody playing who is, but they are not the “crew” that is typically at the tables. Entrepreneurs take calculated bets. Though, the blackjack frame of mind may help you open your own business; entrepreneurs need to be risk takers. Hey, you might as well save that money that you’re going to give to the Trump Plaza and invest it in yourself.
6. Would you buy a nice car on credit?
With regards to this question, the answer should be either “no” or “not again.” Entrepreneurs, or good people for that matter, do not need to show off their wealth. If they would like to buy something nice, they do not buy it on credit and they surely do not invest in a car.
7. Is television your hobby?
I’ll never forget one of the bankers at my bank telling me that he had 7 months off with pay after getting laid off from his previous job. I asked him what he did with his time. …

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Tips That Video Marketers Can Really Use

Video marketing should be considered if you want to make a big impact on your business. But, in order to really get the best results, you need to learn about the methods others have used to be successful. This article can help you do that.

You should make as many videos as you can. This encourages viewers to keep checking your channel for new content. This will also help broaden your audience as more people can find your links through a general search.

YouTube is the most popular sharing site, and is worthwhile for its video editing features and analytics alone. Annotations are a good example of what you can add to your videos. You can share links, give more details about your product or even provide a coupon code.

You need a link to your site built into your video. This technique will allow your viewers to see your website in action. This is also useful in how-to videos. Try saving a copy of the screenshot and then use some video editing program to include it into the video.

You should always have interesting content for customers. Your video should catch people’s attention. If you have boring videos, even the video marketing powerhouse YouTube can’t help you. A lot of people want to watch videos that are relevant. The more interesting and engaging your videos, the more likely you will be to see sustained growth and increases in traffic.

Talk to your colleagues and seek their assistance in helping your video marketing ideas. You need to have articulate people who represent the business. You should not hesitate to feature more than one employee or colleague in your videos.

The truth will set you free – and get you more viewers. If you want to make videos, make sure the topic is really interesting to you. When you speak the truth to viewers about something you are passionate about, they will not only enjoy it, but they will appreciate it and come back for more.

Do not take the whole burden upon yourself. It can be very hard to brainstorm by yourself for a video. To help come up with ideas, ask friends and co-workers for thoughts. Have sessions such as these on a regular basis to make sure that you remain abreast of advertising and what is happening in your niche.

Video marketing can get the word out about your website or your social media page. Someone that comes across your Youtube videos might not know that you are on Facebook, too. Publicizing your sites are going to attract visitors to them and vice versa. Social media links to your video hosting sites can really boost traffic and business.

After you have read the comments and looked at the statistics of your video, begin making more of them. Analyze your results and use them to create an even more effective video the next time. Make adjustments to the content, polish dialogue and upgrade equipment if possible. Each version will be better than the one before it!

Anyone hoping to realize great gains in profitability should consider video marketing. You need to know what you’re doing to be successful. Utilize the tips you’ve just read whenever you begin your video marketing campaign, and you can succeed.…

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Using The Internet To Make Some Money

It’s hard to make money online, unless you know how to go about it. However, it’s not as difficult as you probably think once you know what to do. This article offers many suggestions to help you succeed.

Watch for scams. There are so many options for online income, but some are not that attractive. Make sure to read all reviews before you sign anything.

Figure out what you’re good at. Do you like to write? Position yourself as a maker of quality content. Does your talent fall in the graphic design area? You could get hired to work on the sites of others. Help yourself with some introspection.

If you write, try writing on sites like InfoBarrel and Squidoo. You can write about your passions and share their ad revenue. Plus, they both tie in opportunities through Amazon.com’s affiliate program, giving you even more online income opportunity.

Make a daily schedule. Just like you need to keep a schedule at an office in person, you’ll need to do the same with online work in order to keep bringing in the money. There are no fast routes to loads of money. You’ve got to put in the hard work. Set aside a specific time during the day. Scheduling an hour can make a difference.

Tutoring is a business that is booming these days. E-teaching is an excellent way to increase your online income. Both TutorVista and SmartThinking offer opportunities for people who have a lot of knowledge in certain core areas. Put in the time and effort, and you never know what opportunities could then become available to you.

Flipping domain names could be a good business for you. Many people make lots of money doing this. It’s like investing in real estate. Obtain the latest trends in keywords by utilizing Google AdSense and similar sites. Try purchasing domains that make use of acronyms. Look for valuable domain names.

It can be time consuming to figure out how to make online money. Just start with networking amongst your successful peers. Adopt a guru, start conversations and make sure the sites you’re frequenting are tried and true. Be open to new opportunities and you’ll never fail.

Don’t pay for any online work opportunities. No company which is legit will ask for money up front. They’re probably just going to scam you. Stay away from such companies.

Have a lot of different ways to make money online. There aren’t any online money making opportunities that come with guarantees. Some sites close up shop from time to time. Your best bet is to bring in income from multiple sources. Doing this will ensure that any under-performance in one area will not break you.

See if you can publish your own eBooks to make money. In recent years, self-publishing has gained significant popularity. It’s an excellent income solution if you’re a born writer or an expert on a targeted niche. There are various publishing platforms, some of which have commission rates of 70% or more.

You’ve gotten great tips here to create an online revenue stream. There are quite a few things you can do to make money, and now all you have to do is put the tips you went over here to good use. Be patient and watch your profits grow.…

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You Need To Read These Tips Regarding Making Money Online Right Now

Many more people have moved to make income online in recent years. There are many things that you could do in terms of making money online. You can start an Internet-based business or perhaps take surveys in your free time. Read on to find some great information about making money online.

Be sure to keep an eye out for information on scams online. Not every opportunity that you come across is legitimate. Before going down a road you are uncomfortable with, make sure to do your research.

Think about what you are good at when thinking about making money online. Do you have good writing skills? Market yourself as an article writer. Are you skilled at graphic design? A lot of folks might hire you for website or document projects. Introspection is a good thing and will help you.

Give yourself a schedule. You have to persevere to make money online. There are no legitimate get-rich-quick opportunities. You have to work hard daily. You need to have a time established daily for focused work. Even an hour a day can make a big difference over time!

Take online surveys for money. There are a large number of online survey sites to choose from. This can be a good way to generate a bit of income. The surveys might not pay very much, depending on exactly where you take them. Nonetheless, it’s easy to do them in your spare time, and you can make quite a bit of money.

Flipping domain names can be very popular. This can be a lucrative and almost effortless way to make money, if you have the knack for it. Domain names do require a small investment; however, they are similar to investing in real estate. Look for trending keywords on Google Adsense. Focus on domains containing acronyms. This will help you to get the most amount of money.

Don’t pay to get started making money online. No legitimate businesses or companies will ask for money before you start working. Any company that does is likely in it just to take the fee and run. Stay away from such companies.

Make use of your writing skills by writing an E-book and selling it to others via the Internet. This is an easy way to use your expertise to make money. E-cookbooks are often very hot sellers.

Advertise for other individuals. For example, you can use your website to host advertisements. If you currently write a popular blog, there may be sellers available that will pay you to place an ad on your blog. This ad will re-direct your readers to a separate website where they will be offered either goods or services.

Affiliate marketing is a great way to start making money online. It does require a website with steady traffic. Look for a niche you want to write about. Look for websites that have affiliate programs, and try asking if you can join them. Every time someone purchases from your ads, you make a cut of the purchase.

You can make lots of money online if you know the basic information. If you are really keen to earn some extra income, you now have the tools at your disposal to do so. Use the tips you’ve learned here and you will surely be able to buy the things you need.…

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When You See Your Competition Succeeding, It’s Because Of Our Internet Marketing Tips

Everyone knows that Internet marketing is very hard work. This hard work however, should be geared towards making your business more effective and profitable. Do not waste your time and effort moving away from what works the best. Always make sure that you are working towards the right goals and towards directions that will be profitable for your future.

To give your site’s page rank a boost, offer your readers a short-term offer or special promotion. If you offer a great deal, sites focused on hot deals will put your links on their sites. This is the same thing as selling something as a loss and making money off of it later.

Email is a great marketing tool. When crafting your newsletters, make sure you are not merely providing your customers with dry facts; engage, entertain, and intrigue your subscribers, as well. Your subscribers should not feel as if they are being spammed, but rather as if they are receiving something of value. Even after your customers leave your website, your newsletters will allow you to maintain contact with them and assure them that you are invested in their continued business.

Display a banner with your slogan, mission statement or a catchphrase on your website. Doing so gives your website a professional look, and visitors can quickly understand the website’s function and your goals. It’s an easy and effective way to showcase your business.

When making your webpage, do your best to focus on content that is directly related to your keywords & topic, and also make sure it’s easy to understand. There’s no better way to keep readers coming back than by providing with quality content to want to come back to. Avoid providing useless data and repetitive, bland descriptions. This is a surefire way to bore your customers.

The best way to market online is to make sure you’re fully abreast of all the goings-on within the industry. Keep pace with all the rapid changes and improvements on the Internet so you can always be ready to get your services placed in front of as many eyes as possible.

Keep your advertising budget from growing out of control. You don’t want to invest money on something that will not help your business. When you spend money, you want to get good deals and that’s why banner ads can be a good investment.

Creating a solid internet marketing plan will enable you to identify your most successful products. Use your most profitable products as a way to generate additional sales. If you carry complimentary products advertise them as such to make an additional sale. You may even offer a discount for buying the two products together. Because these products relate to your top sellers, they do not need as much promotion as your other goods.

Make sure that you maximize the quality of third-party security with transactions. There are quite a few good services that are both impartial and trustworthy. Some examples include: VeriSign, McAffee, etc. will offer safeguards to financial exposure for all parties. While these systems are not always very cheap, they are a critical component of safe and secure online transactions.

Use Internet marketing to effectively increase your profits. By using this advice, your hard work will be worth it.…