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Women Entrepreneurs Prove Its Not Just A Mans World I had the honor of speaking this week at a women’s business association luncheon on the topic of entrepreneurship. When I mentioned to my wife the day before that I was speaking to group of women entrepreneurs she asked, “Why on earth would they ask you to speak?”In her defense, my dear wife has no idea what I do for a living. She’s never read a single one of the several hundred columns I’ve written. She’s never attended a function where I’m speaking or sat in the audience at any of my seminars.She just knows that we live a very comfortable lifestyle and believes me when I https://daltonvkca868.theglensecret.com/how-much-does-a-franchise-cost tell her our money doesn’t come from the drug trade.Beyond that, she’s incredibly happy in her ignorance of her husband’s skills.When I feigned hurt feelings she waved a hand at me and said, “My point is, what in the world can a man tell a roomful of women that they don’t already know?”Henny Youngman, Ralph Cramden, Rodney Dangerfield, Tim Knox. At least I’m in good company.But she had a point. What the heck did I know about women in business? So as not to look like a total idiot in front of this group of what I now call “womentrepreneurs” I decided to do a little research on the topic.Here’s what I discovered: while some still believe it’s a man’s world, when it comes to business, women are catching up fast.According to the Center For Women’s Business Research there are over 10 million women-owned businesses in the US, employing 18 million people and generating $2.32 trillion in sales.Women start businesses at two times the rate of men and women-owned businesses account for 28 percent of all businesses in the United States and represent about 775,000 new startups per year and account for 55% of new startups.One thing that I found particularly interesting was that the top growth industries for women-owned businesses in recent years were construction, wholesale trade, transportation/communications, agribusiness and manufacturing, industries traditionally dominated by men.In the past 25 years the number of women-owned firms in the US has doubled, employment has increased four-fold and their revenues have risen five-fold.Here is the question I sought particularly to answer: Do women approach business differently than men? I’ve been compared to a bull in a china shop when it comes to business. Would a female counterpart approach things differently? More gracefully, perhaps? As my lovely bride would say, “Duh.”In her book, How to Run Your Business Like a Girl, Elizabeth Cogswell Baskin explored common female traits and how women entrepreneurs – and perhaps men, as well – can use those traits to their entrepreneurial advantage.Baskin reported that women tend to use three unique strengths more than their male counterparts: trusting their intuition, focusing on relationships, and putting more emphasis on keeping their life in balance.Trust Your GutWomen are much more likely to make a decision based on a gut feeling. Women may gather the facts and figures necessary to back up that feeling, but they generally know what they want to do based on intuition.Build Strong RelationshipsMen play the game of business like a sport. They are out to win and dominate. “Women,” Baskin says, “are much more interested in establishing a connection.”Find A Balance Between Work and Life.A number of women interviewed for this book cited on quality of life as their reason for starting a business, alluding to their desire to find a way to juggle family and work. “If having more time for your family is important to you, find a way to work that into your day. It’s not so much how much work you do, but being able to decide when you’ll do it.”Baskin offers one more piece of advice to women in the early stages of their business:You Don’t Have To Know Everything.My wife would argue this point because she really does know everything, but Baskin says when it comes to business, thinking you know everything is not the key to success.“It’s amazing how many women say they didn’t know anything when they started their business,” Baskin said. “Don’t be afraid to ask for help – you don’t have to be perfect at everything.”Solid business advice: for guys and gals.Here’s to your success!

How To Have Great IdeasWant to have https://michaellienert.com/ great ideas? You could try waiting to see if they pop into your head someday, and they honestly might. However, if you want a more systematic method you can use today, here it is in three simple steps:1. Get knowledge in the area in which you want the ideas.2. Use idea-generating techniques.3. Choose the best ideas from the results.Great Ideas Start With KnowledgeYou wouldn’t expect to come up with a new theory of relativity if you had no knowledge in physics or mathematics. You need some degree of knowledge in the area in which you want new ideas. For truly great ideas, it helps to have a great deal of knowledge.To create a new transportation device, for example, you would want general knowledge in that field, as well as more specific knowledge. This might include knowing a little about all the current modes of transportation. You might add to that a list of things that have been tried and failed, and a list of all the things that people want in their transportation.Great Ideas From TechniquesIdeas and inventions start in the mind, and the mind follows certain patterns and rules. This is why tools such as problem solving techniques and other idea generating techniques work so well. Consider the “concept combination” technique, for example. Tell your mind that you need a useful combination of a plane and a motorcycle, and it will search until it finds it. This mind took twenty seconds to imagine wings that expand out at high speed from a motorcycle, allowing it to glide right off the edge of a cliff.The technique of redefining problems in many ways can open whole new areas to explore. Redefining “inexpensive homes” as “ways to help people afford homes” has lead to all sorts of new financing methods that have made it easier to buy a home even as prices have risen. If “better job” becomes “better way to make money” you open a whole range of possibilities. There are dozens of great idea generating techniques to choose from, each with it’s own advantage.Many Ideas To Choose From The more ideas you come up with, the more likely you are to find good ones to work with. This is why you should learn the systematic ways to produce new concepts. Finally, if “great” means “important” to you, you need to work in important areas. There’s nothing wrong with inventing a better clothes hanger, but if you want to change the world, start working on new ways to save the environment, ways to end hunger, new political processes that avert wars and other great ideas.

Entrepreneurs Find New Way To Finance DreamStatistics show that more than one million people in the United States start a new business each year. That number would be much higher if all the would-be entrepreneurs had the financing required to get a business up and running. In order to accomplish their dream of business ownership, entrepreneurs are finding new and innovative ways to finance their new ventures. According to Leonard Fischer, President/CEO of BeneTrends, one of these new financing options is the use of a person’s existing retirement funds-a pension, profit sharing, 401(k), IRA-which allows that person to start the business he or she has always dreamed of without tax penalties, consequences or mountains of debt. Under the Employment Retirement Income Security Act (ERISA), retirement funds can be transferred into usable capital for business investments or operations. If a person has more than $40,000 in a retirement account and is not currently employed by the company that holds those funds, he or she qualifies for this Small Business Administration (SBA)-recognized financing approach to start a business. Retirement funds can be used for any business purpose, including: -> Purchasing a franchise or existing business-> Start-up expenses, such as purchasing property, equipment, etc. -> Working capital, including paying salaries, franchise fees, etc. -> Business expansion, such as funding additional franchises, locations, etc. -> Equity toward SBA or other loans.The thought of dipping into one’s retirement can cause some apprehension. Through this investment strategy an individual actually has more control over his/her retirement-instead of gaining minimal growth dependent on the stock market, those savings are actually being invested in one’s own business. This approach often allows an individual to set aside more money for retirement than ever before. “Today’s entrepreneur faces an environment of tremendous competition, complexity and opportunity, so starting a business the right way is more important than ever,” says Dr. Germain Boer, Director of Vanderbilt University’s Center for Entrepreneurship. “This financing method is a good option for an individual who has accumulated https://cashnomf257.image-perth.org/choosing-a-concession-business-location funds in his/her retirement accounts.”The entire process generally takes two to four weeks to be completed, and can be done by phone, email, fax, FedEx and regular mail. Working with an experienced employee benefits plan expert, starting a business is as simple as these four steps: Step 1: Establish a C-corporation. Step 2: The new corporation creates a retirement plan.Step 3: Funds are rolled over into the corporation’s new retirement plan.Step 4: The new retirement plan purchases the stock of the corporation.“So many people have watched their dream of owning their own business go out the window due to lack of funding options. We help people achieve that dream every day using money they already have,” says Fischer. If you’re ready to explore this innovative financing option, be sure to consult an expert to guide you through the specialized process.

The Entrepreneur’s ChecklistI was asked the other day what personality traits I thought were important to entrepreneurial success. I immediately gave my preprogrammed reply about passion and dedication and hard work. After taking some time later to ponder the question a little deeper (I normally operate in shallow waters), I came up with a more detailed checklist for entrepreneurial success. This is by no means a definitive list, but I’d be willing to bet that if you don’t have at least a majority of these traits, your chances of business success will be greatly diminished. You must be self motivated.If you don’t have the wherewithal to bounce out of bed each day without your spouse drenching you with cold water, chances are you don’t have the self motivation or discipline required to be an entrepreneur. Business demands that you take action based solely on your own volition. You have to do a hundred things every day that will not get done unless you make yourself do them. You can’t be afraid of hard work.If you think working for someone else is hard work, try starting your own business. You will be required to give every ounce of blood, sweat, and tears you can muster and then some. You will have to work long hours and be on call 24/7, at least in the beginning. If the mere thought of hard work makes you tired, maybe you should just keep your cushy day job. You should have experience in the type of business you plan to start.If you can’t locate your car’s engine you have no business buying an oil change franchise. The most successful business owners have prior experience in the industry in which they have set up shop. Consider working in an industry at least part time for a year before jumping in with both feet. You must be able to climb back on the horse.I always say: “If business was easy, everybody would do it.” Starting a business is hard work and the odds for failure are against you in the first few years. If you want to ride herd on your own business, you must be willing to fall off your horse and get back on a few times without giving up. You need the support of your family.When you start a business you may have to spend more time away from the family than you like. The business may also put a strain on https://michaellienert.com/ you financially. You will have enough obstacles in your way without having to worry if you have the support of your family and those closest to you You must have a thick skin.If your feelings are easily hurt, keep your non-threatening day job because business is not for you. Many days in business, rejection waits around every corner and you must be able to handle rejection without taking it personally. You must interact well with others.Being an entrepreneur requires interacting with a variety of people, from your own employees to vendors to customers to investors. You must have the ability to effectively manage people without offending them; the ability to accept good advice from mentors and politely discount the bad; the ability to overlook mistakes or quietly rectify them; and the one I have trouble with: the ability to tolerate incompetence without losing your cool (at least not on the outside). The deeper your pockets the better. The number one cause of business failure is a lack of money. Before you start your business you should have access to enough capital to see you through until the business can sustain itself. You must be able to delegate.Running a business requires the performance of dozens of simultaneous tasks and it’s foolish to try to handle them all yourself. You must learn to put your trust in others. If you can’t dish out responsibility without worrying over the result, your business growth will be limited.Previous business ownership is a plus.Prior business ownership is not a prerequisite, but it can’t hurt. Many successful entrepreneurs have the skeletons of past businesses rattling around in their closet. Another of my sayings: Business is a lot like marriage: you learn a lot from the first one that may come in handy the second or third time around. With that kind of advice you can see why I didn’t go into marriage counseling. Here’s to your success!

The Great Ms of SuccessPeople who have studied successful people over the last 300 or more years have found certain traits that accounted to their achievements. These success techniques not only helped them forward but also kept them there even in times of depression, recession or other personal disasters.Four of them are The Great Ms of Success in business and life.Mentoring, Masterminding, Marketing & MotivationI have heard it repeated over and over again, “Get Yourself a Mentor.” Get help, advice and guidance by someone who has already been there and made it. A mentor can save you years to a lifetime of mistakes. They can excel you forward, in ways you never could on your own. Youll have a much greater ability to achieve your goals because you will have a blueprint to guide your way.Surprisingly, many people if not most will go to a friend or relative for advice. People who have never succeeded and have no ambition to go anywhere, and then these same people are surprised when they too don’t succeed or even get very far. Then they look for excuses and reasons outside them selves for the failures. Such as recession, location, or even competition muscling in. Accomplished people also belonged to a Mastermind group. They are people like you, entrepreneurs working towards a better life. The collective power of the group brings increased knowledge that can help you resolve challenges that you may have. They also keep you motivated and accountable. The power or synergy of the mastermind group has shown over and over its ability to help people overcome any problems. Each week, each person in the group would state what they have accomplished, what they are doing next and ask for assistance with any matters. The group as a whole then works together to come up with solutions. Discover just how powerful this is in moving you forward and achieving your desires. It also gives you the very important ability to give back to the group by helping them. A small sample of people in or were in masterminds are: Henry Ford, Firestone, Napoleon Hill, Andrew Carnegie, Anthony Robins, Mark Victor Hansen, Jack Canfield, Joe Vitale, Joel Christopher and so many more.The third M is Marketing. No matter what your business is, if you don’t market yourself or business, you won’t get very far. You can’t expect to hide under a blanket in the corner and hope that someone finds you.Marketing is more than just advertising. It’s understanding your target market and knowing how to promote to them and the benefits that your product or service will provide them. Without this knowledge, you will either not attract anyone to you or you can waste a lot of money with zero results.It pays to find people who understand this and can help guide you. They can help you define your niche’, explain copywriting and the magic of words. They can show you the difference between features and benefits and why they are so important. And they can teach you how to test everything for positive and increased results.Finally, the fourth is motivation. Motivation is the juice that keeps you going, that allows ideas to progress and persevere when times are tuff. No matter how great your product or service is, if you don’t stay motivated, you probably won’t last https://gunnerslll420.raidersfanteamshop.com/tech-teen-makes-cents-with-tractors through the hard times.There are many ways to help you stay motivated. One is to be around others that are also moving forward. A second is to write down and post right in front of you, Why You Are Doing This. Get specific and detailed as possible. Then post it in front of your computer or where ever you work the most. Look at it often to remind your self why and what your motivation soar.Grasp on the marvelous Ms and jumpstart your own goals dreams and desires.

What it Takes to Succeed in Business!Business if tough in todays world! Most small businesses go bankrupt or are closed abruptly in the first five years. Over the course of https://michaellienert.com/ the next five years many of the remainders also pack up shop and lock their doors. Why do so many businesses fail?The reasons lie in three main spheres. Those spheres of influence can be labeled personal, customer, and operations. The Personal Sphere deals with the owners personal motivation to start a business. For example, if an owner wants to start their own business, but isnt willing to make the sacrifices necessary to make it thrive, then they are at a disadvantage when compared to other motivated businesspeople. When a business starts for the first time often it doesnt have a lot of money. Owners are required to sacrifice time, money, and happiness to succeed. If you cant do that, it is unlikely that such a business will flourish. Many times owners thought they could handle the hardship but once the novelty of being your own boss wears off they close the door. The Customer Sphere is one of the most important components of your business. Without customers you do not have sales, without sales you do not have money and without money you do not have a business. Many factors go into generating a good customer base. In the beginning you must have a cost effective marketing strategy that targets your intended buyers. This can be done by developing a psychological profile of your customer and then advertising in those places that they frequent. Because it is more expensive to get a new customer than it is to keep one you must make sure they are satisfied with your business and product. Keep in touch with them by sending them a follow-up letter with a survey. The Operations Sphere is only second to the Customer Sphere. In operations you must have an appropriate method of reducing costs, keeping track of paperwork, and maintaining improvement. Operations can also take into effect the tax paperwork, accounting, scheduling of workers, benefits or any non-producing functions.If all of these three components are well thought out and are appropriately designed you will increases your chances of survival. Failure to understand the integral details of your business and what it takes to succeed may mean failure in the long run. If you are having difficulty putting all the pieces together then consider a small business consultant.