When people talk about starting their own business, the fear of the risk involved is often the key factor holding them back. There is an assumption that launching a business is akin to gambling – one unlucky roll of the dice and everything will come crashing down. They believe that anyone willing to go out on their own must have an incredible tolerance for risk or a substantial lack of fear. In fact, the most successful entrepreneurs are relatively risk-averse. There is a lot at stake when you put everything you have into the next great business idea, and true entrepreneurs work hard to mitigate every potential threat before it becomes an issue.
Four of the most common risk-related concerns are financial, lifestyle, career, and ego. Of course, there is some inherent risk in going out on your own, but there are legitimate ways to manage and mitigate those threats. This article discusses the realities of lifestyle risk and what you can do to manage that risk before you dive in to the world of entrepreneurship.
The perceptions of lifestyle risks tend to be relatively accurate. Most people understand that starting a business requires sacrifice – time, spending habits, heightened stress. During the early stages of any new business, the founder is going to spend every waking moment and a good portion of sleeping time obsessing about all that needs to be done. Your time may be more flexible, but for every one of your kids’ soccer games you attend, those hours of work will likely be made up in the wee morning hours. The responsibility of entrepreneurship can weigh heavily as well, leaving many business owners a walking ball of stress. And, depending on your financial situation, you and your family may be enjoying Ramen noodles for every meal during the earliest stages of your venture.
The trick to handling these lifestyle changes is to acknowledge their reality and consciously manage them as best you can. Keep the lines of communication open with your spouse or partner, family and friends. Become obsessive about managing your time and what needs to be done next and work through your to-do lists as efficiently as possible. Know that you will be working 82 hours a day most days and that you will constantly feel under pressure. Then make a plan to deal with those facts.
Give yourself a break. Do the things that you need to do to take care of your physical and mental health. Block out time to exercise, schedule important family events and treat them like mandatory meetings. Keep a pen and notepad with you to jot down ideas or tasks that are distracting you. If you are feeling particularly stressed, take a step back and do something that relieves stress for you. At the start or end of each day, reset your priorities and make a plan. Be realistic about what you can accomplish in a day and focus on completing those tasks. Reward yourself when important milestones are reached.
Starting a business does come with substantial changes to your lifestyle. Most entrepreneurs go from a basic 9 to 5 work-a-day existence to a constant focus on their startup. You and your family will likely need to tighten your belts for a few months and high stress is part of the deal. But charging right through these risks is the best way, if not the only way, to reach the other side where your financial and personal independence will know no bounds.
A favorite quote around this office is “Entrepreneurs are people who are willing to live like most won’t so they can live like most can’t.” Of all the risks associated with starting a business, many fear the lifestyle risks the most.…
Does that sound like you? Always wanted to go to business on your own, yet never took the first step? What the hell are you so afraid of? What’s the worst thing that can happen? Remember: if you don’t take risks in your life, your life will forever be the same.
This article is actually not really an article. I simply wanted to share with you two insights I gained over my years of entrepreneurship. So here goes.
There are two conversations I will always remember. The first one was with a good friend of mine, one Saturday perhaps 15 years ago. I was born and raised in Tel-Aviv, Israel and the whole concept of Saturday morning with friends is a big thing. My friend had an idea for a new business, and me being an entrepreneur in heart, was listening and giving pointers. He was going on and on about the business model, what the steps were, how big the market is etc. in his head he was already going public and retiring to a little island he just bought off the coast of Greece.
I remember vividly sharing his enthusiasm, telling him how I thought it was a good idea, where he should get the initial funding, how I thought the product should be designed etc. We had a lovely talk and then said our goodbyes, going back to the daily grind on Sunday (in Israel, people work on Sunday, but mostly have Fridays off).
After a couple of days I was talking to him over the phone, chit chatting about life the universe and everything, and asked him how he was moving forward with his business idea. His response was, and I quote: “I don’t have time right now; things are really hectic at work”. It hit me like a thunderbolt. My friend is a Saturday entrepreneur. In his head he build up a fantastic scenario made of the things he believes can bring him joy, then comes the start of the week and he is back on his daily routine. Saturday entrepreneurs will never take the leap to becoming real entrepreneurs. That takes guts, risk and a little bit of uncertainty.
The second conversation I wanted to share with you was a talk I had with my late grandfather. He was an old school businessman, filled with wisdom and insight. At the height of his ventures he actually owned a bank that he sold to another bank, making a nice bundle in between;)
I was 17 years old and had just failed my third driving test. I remember sitting with him in his house, telling him that I will probably never have a driver’s license. He looked at me, smiled and very calmly said “go take a look outside, see how many idiots drive a car, then come back in here and tell me you can’t do it”. I had carried that sentence with me all my life. Whenever someone tells me entrepreneurship is hard, I tell them to look at the guy who owns the local grocery store, the person who owns a caf?Ã¯Â¿Â½, even a guy selling hot dogs on the street. If they can be entrepreneurs, why can’t you?
So what’s there to learn from these sayings? Only one thing. Don’t be afraid.…
Today, more than at any other time, with the uncertainty of job security it is important to have a “Plan B”. Even without the economic termoil, you may find some comfort in developing a secondary stream of income. But what can you do?
Almost everyone has hidden talents that are obvious to those around us but we do not recognize them ourselves. The easiest way to decide what your talents are is to look at your friends and ask yourself “What do my friends and family ask my advice about, or ask for my help with, most often?”
The people who know us best already know the hidden treasures within you. If you can’t figure this out yourself, ask for their advice on what they think you would be best at. Do they always come to you when they need some baked goodies for a party? Are you the one they come to to plan a family event? Are you the yard sale and thrift store queen? Do you love to shop and know the stores so well in your neighborhood that you can find virtually anything you need in one outing?
You may not see these as hidden talents or having a potential for income, but those very traits are necessary if you are considering a catering service, an event planning business, an eBay business or a personal shopper business. Not only can you make money from providing these services to others, you can have fun doing it! Obviously you already really enjoy these activities which is why you have gotten so good at it. Why not turn it into a part-time or full-time business?
Creating a secondary stream of income will take the stress of these economic times away as you will always have that Plan B in place.…
If you are thinking of starting a business online then it could be one of the best decisions you ever make as long as you are prepared to work hard and learn what is required and don’t treat it as a get rich quick scheme because it isn’t. Making money online is feasible for anyone willing to learn, and the earning potential can be huge for those who do it well.
There are a few methods you can use to start and run a successful online business without spending much money. Most, if not all online businesses will have a website of some sorts. A good place for you to start with this would be for you to get your own blog. You can set up a blog very easily and for free through sites like and . A blog can provide a perfect platform to base your online business around and to sell products from.
Social networking sites such as Twitter and Facebook are becoming very powerful tools for online business owners to use. You can brand yourself and quickly develop a large following if you use these sites correctly and they can help you market your business very effectively.
Article marketing is another effective method of building your online business. If you are able to write a quality article of around 400 words about a subject that people are interested in then you will be able to make some money using this method. By placing a link at the end of your article then you can drive traffic to anywhere you want such as your Blog or a product you want to sell.
Affiliate marketing means to sell somebody else’s product from which you will earn a commission. You do this by creating an affiliate link to the product you want to sell, in that link will be a code that is unique to you so when somebody buys through that link you receive them commission. You can use your blog to put your affiliate links on and use article marketing to send people to your blog.
These methods are incredibly affective and are used a lot by successful internet marketers every day. They are easy to set up and the whole process is quick to learn and implement.…
Millionaire Internet tycoons know exactly how to make money online. They’ve made it their business, and that’s how they made their millions. These are habits that are either innate to them, or ones they picked up along the way that led to their wealthy state. Below are 10 of them.
1. Develop A Stellar Plan
Without a stellar plan to start your business, your business will fail. It will fall flat on its face. Start with a well-thought out plan. Consider what your ultimate goal is and create sub-goals, along with tasks. Break down your plan to daily activities. Schedule in your planner and complete them.
2. Are Gregarious Goal Setters
In setting up your business plan, make sure you gregariously set up goals for yourself and your business. Don’t think small. Instead, think unreserved. In all your goal-getting, add ones that you only dreamed of. It is said that if you don’t write down goals, you’ll never achieve them.
3. Are Calculated Risk Takers
Being a calculated risk-taker is critical to becoming a millionaire. If you stay in the safe zone, you may make money, but not at the rate you will if you take calculated risks. Calculated is the key. If you are unfamiliar with an area of investment or risk, don’t jump in. Avoid it until you know all the ins and outs of the thing. When you become a subject matter expert on a topic is when you are qualified to take calculated risks.
4. Showcase A User Friendly Website
There are a plethora of free websites available, and your Internet business will never survive without one. Create one and set up shop. Keep your website understated with simple graphics, lots of white space, bulleted descriptions and brief statements as to your goals and offerings. Make sure you have a RSS feed and e-mail subscription capability to allow visitors to sign up.
5. Blog With The Best
Millionaire Internet tycoons make it an integral part of their business to blog with the best. They set regular intervals to blog and keep their Internet community and membership abreast of what’s going on in their Internet marketing world.
6. Have An In It To Win It Mentality
What does it mean to have an in-it-to-win-it mentality? It means you will do whatever it takes to accomplish your goals, and that you will not let anything stand in the way of your achievements.
7. Know How To Network
Networking is critical to growing your business. That’s how Internet tycoons turn into millionaires. They network by joining forums, social networks, blogging, sending regular e-mail distributions and using other media to get the word out about their business and draw new buyers.
8. Know How To Work The Social Networks
You have to know how to work the social networks to your advantage. After you register with several, send out at least one tweet or notification a week to let people know something useful about your business. Start and send out a free training on something that is useful to the world at-large, but relates to your business. Send the brief training notifications out weekly or daily to maintain the interest of your audience.
9. Take Quarterly Respites
As important as it is to work your business, it is also important to take occasional respites. Quarterly weekend trips out of town with the family are a great way to recharge. Schedule them into your work plan. Also, budget the cost, so your business revenue does not suffer.
10. Know How To Celebrate
Millionaire Internet tycoons know to celebrate their accomplishments. When you arrive at a major milestone, celebrate. Again, budget your celebrations, so that they don’t impact your bottom line.
These are only 10 habits of millionaire Internet tycoons. There are others, but start off with these. Integrate them into your way of life. Emulate these habits daily, and it won’t be long before you’ll have the same mentality as millionaire Internet tycoons.…
It’s now easier to make money than it was a few years ago because more and more people are doing business over the Internet. Now that most fears about online shopping have been reduced, you can join those making money through the Internet. These tips can help you begin.
Watch out for scams that may be targeting you. Although there are many opportunities online, there are some dishonest sites as well. Look for reviews of potential plans before making any agreements.
Find out what you like to do if you want to earn cash online. Do you like writing? Become an SEO writer. Do you like doing graphic design? There are many individuals and companies who will pay you to make logos and graphics for their websites and blogs. If you want to succeed, know thyself.
If you are a writer, consider writing on a revenue sharing website like Squidoo or InfoBarrel. These websites allow you to write about your favorite topics and you also get a percentage of the revenue. Even better, you can use Amazon affiliate opportunities on these sites to make even more.
Take online surveys for money. There are many out there. They’re fun and easy. Sometimes, their pay isn’t that great. However, they are easy to do during down time, and the money you make from them will quickly add up.
Make sure that you prove your identity if you plan to make cash online. Most companies want you to show proof of who you are, just as you would at a physical place of employment. This will prove that you are who you say.
Put your leisure time to productive use. There are many ways to earn money while relaxing. This is true of tiny tasks on a crowdsourcing site like Mturk.com, known as Mechanical Turk. Do a survey while watching your favorite TV program. You’re not going to make a whole bunch of money with these things, but it can help you to earn a little when you’re bored.
Determine how much money you should get for your time prior to doing any work. How much can you make before you’re losing money? You won’t make a lot of money if you settle for a really low hourly rate. Folks will consider you to be worth less and not pay you very much.
Keep your income streams diversified. It is often difficult to make money online. The Internet is an ever-changing workplace, so you have to be ready to adapt or your skills may become obsolete. With ample choices in streams of income, you will never be left high and dry. When you do this, you will not need to be concerned if one method has a temporary dry up.
When it comes to earning money through the Internet, some companies are real while others are not. For this reason, you must scrutinize any company you are considering doing business with. Any company you want to check out, should be found on the Better Business Bureau’s website.
Online opportunities have made income generation easier than ever, but solid knowledge is still required. You will have an advantage over your competitors if you’re educated on making money online. Keep this advice handy as you proceed.…Read more
The easiest way to get your articles noticed is by placing them into local article directories. These directories make it easier for your website traffic to grow. Lots of directories are available at no cost, and let you place links in your articles. You can spin articles and submit as many times as you wish.
You should write articles that are instructional and factual. By having high quality and informative content in your article, you are showing potential clients that you are a resource they can rely on. Articles are also an excellent source of content for your site. If your website contains high-quality articles, it may rank higher on search engine results pages.
Once you’ve been writing for some time, there will be many articles online that will contribute to your body of work. You can compile your best works in one eBook to either give away or sell. As long as your eBook contains good information, people will share it with others which can mean increased business.
The first paragraphs of your articles should get your readers’ attention right away. Both search engines and readers put the most import on first paragraphs. By incorporating the most pertinent information in the article’s first paragraph, you can grab your reader’s attention. Ensure it’s interesting, but don’t spill everything right away. You want them to read the rest of it, too.
Why not hire someone to help? If you are not a talented writer or don’t have the time needed to write your own content, hiring a professional to write for you may be your best option. The expense will likely balance out when you have the high quality content that you need to post regularly.
Submit your articles to directories and blog networks too. With the increasing popularity of blogs, getting published on one can boost your traffic. It is important to provide your details with the articles you submit, so people can visit your site in addition to the blogs.
Put the right tools to work for you to increase your online presence. There are quite a few out there that will send your articles to directories automatically. There are even a few free tools you can utilize. Look for these methods to gain readers without spending a fortune.
Try not to overuse keywords while writing articles. Limit your usage of a keyword to five occurrences within an article. More than that has the potential of causing readers to leave your page. Your readers are happier when the article isn’t littered with the same keywords.
Make sure to link up your main article with all of your other articles. This is useful for your main article since it will be in the search engine indexes, along with letting your other articles give you back-end traffic.
Anyone who wants to boost sales should consider article marketing. It’s free and easy, and it can help you find success. Remember that a high amount of online exposure is key to a successful site. It helps to increase traffic, increase rankings with the search engines and ultimately increase profits.…Read more