Tag archives for Open a new business
What is the key to successful entrepreneurship? Is it Innovation? Some people believe it’s the ability to innovate. Sure, doing more with less, finding new ways of getting the job done and being generally innovative in your business will definitely help, but it’s not the deciding factor. Is it Access to money? Is it Management Skills? Is it Courage? What is it really that makes a successful entrepreneur?
Why do some brands catch on, while others fade into the background wither away and die? In an age of commerce where customers have too many choices and too little time, the message is clear: you have to be remarkable, people must know what you are doing. To get what you want out of your business, to grow into a brand that people actively seek out over your competitors, you’re going to have to figure out how to make your idea spread. It’s that simple, and that hard. Because ideas that spread, win. The most important asset you can ever have is an idea that’s worth spreading. Ideas that spread, win. But how...?
What is Spec (short for speculative) Work? In simple terms, a spec work is any job for which the client expects to see examples or a finished product before they can decide to either buy your product or not. South Africa is full of freelancers. Self-employed people who are often extremely talented, and they ply their trade in quite man different fields which are often artistic in nature. Examples: Writing, Web development, Programming, Graphic design, Photography, Music production. The list is huge. But there is a problem, which is exactly what I want you and I to zoom into today. Right here, right now. Please stay with me. We’re talking about a legion of intelligent boys and girls who can even hardly feed themselves. Because their businesses just can’t make enough money. Let alone anything.
How to Start a Business That Changes Things? It's me again, and you know how I roll...Please listen to me loudly. In January I predicted that 2014 would finish roughly for me, I am stuck...Living far from home, without a salary, struggling in every way. I am a nobody. I am tired... happy... and poor. I'm almost crushing. But things are very different for me. I'm much happier. My life is full. I believe in Christ, so allow me to say something like, ‘My cup runneth over.’ So what is it that gives me so much peace, so dramatically? Last night, I was up until 2am. I used that time to write down some really important stuff. I know that these ideas have made all the difference in my life and career. The important thing to realise is that I'm not special. I'm not super intelligent, and I don't come from a rich family. My message is that anyone can start a business, make bucket loads of cash and do something positive for society all at the same time. Follow these few principles and before you know it, you'll be busy establishing your legacy!
I get to meet people who rave to me about just how much they believe it's the right time for them to start amazing stuff with their lives. I get told a lot of things like, 'I am quitting my job and starting my own business!' or 'I've found a mind-blowing idea that's going to change the entire earth!' Guys, I also get to hear from clowns who mimic the old version that says, 'I am moving to Hollywood!' for example. It's amazing. However, I constantly get down to acute disappointment whenever I meet these folks months or years down the line, all of them still lingering with their dreams and nice speeches around. What is the problem really? Is there anything like a perfect time to start your own business?
Every day, another local business crashes and burns in spectacular fashion. Did they make a lot of mistakes? I don’t think so. My theory is that they didn't make anywhere near enough mistakes. See, at school, they trained you to believe that mistakes are bad. That mistakes reveal ineptitude. That mistakes are shameful. Fans of business plans always emphasize one thing: To Secure funding for your business, you almost always require a formal plan. But what about companies which are funded by friends and family? What about the notion of starting small and grow yourself up into success? Why would you wait for investors, commercial banks or government lending institutions to approve your business before you can start your dream? Unless you are just there trying to do any business and not trying to solve the customer problem, then indeed you will need a business plan.
What’s the difference between the 5% of the people who get extremely, embarrassingly rich and every average guys who are absorbed into the establishment and busy chasing the 9 to 5 job. The guys who are super rich, the guys whose cellphone numbers do not appear in your phone and the ones who don’t take your calls at all think differently. Please write that down. Do you really think and believe that you can be a success? Let’s look at these few eight things that the rich value more than you do.
How will you feel when you spend months of pain and sweat to open your business and suddenly you find out that nobody is interested into your product than what you anticipated? What will you do? Keep carrying on and hope things will get better soon as your customers will get used to you? For how long will you carry on? Many new businesses fail before they could even start because their creators failed to identify an unmet need in the market and verify the viability of their concepts beforehand. Your time and money are extremely valuable to you. You can't afford to waste them by investing them in producing a product or service that fails in the marketplace. The more you test your product before you produce and sell it, the more likely you are to earn the sales and profits that you desire.
Entrepreneurship has become a huge subject in our country. A staple topic. Really. One that’s echoed at every corner, with institutions of academic learning humming on the subject full time. It’s a hot topic on tabloids. Television and radio cannot help but be dedicated to this wave. South Africa has become a country where people can dream, reach out and build this country with their knowledge and skills. But how come many South Africans are failing to make use of these opportunities while foreigners with literally nothing, with no connections, no shoes and can barely speak English seem to be succeeding?
Potential is a dangerous word because when you first embark on your career in entrepreneurship, you NEED to hear it all the time. You NEED that validation from the outside world. And when you get it, it’s like swallowing a magic pill that makes all your problems go away. I’m telling you, I’ve lived through this, it means EVERYTHING to hear a customer, or an investor, or your Mama, or basically ANYONE say, in plain English, that your business idea has potential. Why do so many talented people end up living such MEDIOCRE lives?