RSS

Tag Archives: guest blog

5 Common Legal Mistakes That Can Ruin Your Startup (Contribution from Michael Deane)

The following post comes to us from marketing entrepreneur, Michael Deane, who is the founder three businesses and currently working on his next startup venture. Be sure to learn more about Michael in his biography at the end of this article.


legal mistakes

Alan Moore once said that ideas can change the world.

And isn’t that what all startups start out as? An idea that we hope will change the world?

While we are busy brainstorming and developing theories and ideas, coming up with the next product that will shake the ground we walk on, the business side of our business creeps up on us, and lurks there in the dark, waiting to pounce at the most opportune moment.

As a business owner, I can tell you two things: there will be about a million things you would rather do than read laws and regulations, draft contracts, do your taxes and fill out all the finger cramping paperwork needed to register a company. However – and it’s a big however – without the dull stuff, the fun stuff will not quite pay off as you hoped it might.

In order to hopefully save you some of the potential trouble down the line – here are my five legal missteps to avoid at all cost.

Not Knowing the Difference between a Corporation and an LLC

One of the most common mistakes you can make very early on is not even thinking about the different options to register a company. Naturally, the choice you make will mostly depend on where you live in the world, but the actual legal structures are quite similar, no matter what name they go by.

You can go for a sole proprietorship, a partnership, a limited company, a limited liability corporation, or a full blown corporation. The reason why this is important is quite simple: taxes. There’s also the issue of personal liability, which is again more important than you may initially think.

Weigh your options very carefully before you actually start this process. Some countries offer the option of registering your company online, which involves less hassle than having to walk from office to office to do it. There are also very different fees involved, and the necessary number of signatures can also vary.

As always in business, research is your friend, so do it right, do it early on, and save yourself the legal trouble later on.

Not Bothering to Protect Your Intellectual Property

When I say intellectual property, I don’t only mean secret recipes, production secrets and unique service ideas. Your intellectual property may be something as seemingly simple as a logo or a brand catchphrase. And while it may not seem too important early on, it may become a game changer in later years.

Trademarking any unique designs can protect your assets and save you from intellectual property theft. If you’ve ever seen Dream Girls, you will have heard the two versions of the “Cadillac Car” song – don’t let that happen to you.

If you have also come up with a new production system or even a new blend – patenting it can turn into a valuable asset.

Failing to Grasp the Importance of Contracts

A contract is a legal document in place to protect all of the parties signing it. When you think about it, you would never consider working with a client without one, right?

However, as you are starting out, you may feel it is easier to operate without them. Having to get a client to sit down and read through a couple of pages can be more difficult than chatting about a deal online, and shaking a firm hand.

To save yourself a lot of unnecessary headaches, draft a contract that will protect you – especially in case a client fails to pay an invoice. This happens more than you can imagine, and a contract that ensures you will get paid is a lifesaver.

While there are thousands of ready-made contracts available for download – you will be much better off if you have a template contract drafted by a professional attorney. This way, you ensure that the specifics of your business and the service or product you offer are taken into consideration, and that you are not overlooking a very obvious clause that may not have made its way into an online contract.

Googling for Help

While Google is often our best friend – it is the worst place to go for legal advice. While there are countless blogs and forums that can offer some great business tips, productivity hacks and motivational speeches – don’t ask the internet to tell you how to get out of a particular legal issue.

You will undoubtedly find an answer you will like, an answer you will find helpful and an answer that seems right – but no one can guarantee it will actually do the job.

Take everything you read online with a grain of salt (including this very article) and think things through yourself. We have become so dependent on having all the information in the world at our fingertips that we can forget to use our own common sense to solve a problem.

Being Unclear about Company Roles

Knowing who does what and is responsible for which aspect of the business is not only important from the legal standpoint. The law will need to know who the legal representative of your company is, and who is liable for what. Thinking about this early on is very important.

While there may only be a handful of employees in the company right now – that is likely to change, if the idea I mentioned at the beginning was sound. Figure out who will be the face of the company, who will be responsible for the financial side, and who will be the liable one, in case things go south. This is where the type of company structure you choose comes into play again.

I hope these five tips will help you as you set out to chase your dreams. And that 400 years from now, your idea is still changing the world!


Michael DeaneAbout the Author: Michael Deane has been working in marketing for just under a decade, and has successfully launched three of his own businesses. Today, he runs a small business blog at Qeedle, and is working on his next big venture idea.

Advertisements
 

Tags: , , , , , , , , , , , , , , , , , , , , , ,

5 Important Decisions for Every Entrepreneur (Contribution from Jock Purtle)

The following post comes to us from internet entrepreneur, Jock Purtle, who is founder of Digital Exits, a company specializing in the buying/selling and appraisal of online businesses. This article is based upon his entrepreneurial experience.


5 Important Decisions for Every Entrepreneur

For many, the hardest decision you will make as an entrepreneur is the first one: the decision to go out on your own. In today’s fiercely competitive marketplace, the idea of running a business can be intimidating, to say the least. But once you get over this hurdle and realize fear and hesitation are the only things standing in the way of you accomplishing your goals, you’re well on your way to entrepreneurial success.

As you likely already know, though, it’s not that simple. Getting started with your own company is like riding a roller coaster in the dark. Each up and down is intense, and it’s hard to know what’s coming next.

To try and make things a little easier, we’ve come up with a list of five decisions that every entrepreneur needs to make early on in the life of their company. By highlighting these, we hope you’ll be able to focus in a little more on what you need to be doing to make your company work so that you can weather the storm as it comes your way, worry a bit less and take one more step towards success.

The decision making will never end, and it will soon turn into your most critical task, but here are some key choices you’ll need to make right off the bat to set your company up for a healthy future.

 1. Your ideal customers

You’d be surprised how many entrepreneurs don’t take the time to clearly define their target audience. Often times, entrepreneurs are so excited about their idea that they don’t stop to think who might want to spend money on it. A good idea is a good idea, and there is likely a business to be built around it, but without clearly defining your target audience, the initial stages of your business will be a real challenge.

The important thing to remember when going through this process is to be as specific as possible. It’s not enough to just say you are hoping to target urban Millennials. Instead, put yourself in the shoes of your ideal customer and ask yourself how your product or service might factor into their life. What need are you fulfilling? Or, how are you making their life better or more comfortable?

By answering these questions, you will have a more specific idea as to who you need to be going after and how you are going to reach them. For example, you may find that your audience is men between the ages of 20-35 who live in cities, earn above-average salaries and have an active lifestyle. This is vital information, as it will help determine your marketing and advertising strategies going forward.

Furthermore, once you make this decision, a lot of other decisions will become easier. All you need to do is ask yourself: Is this going to help me reach my target audience? If the answer is yes, proceed. If no, then keep working. Taking the time to be very clear about this part of the business right from the beginning is an essential step to ensuring the success of the company.

2. Management style and company culture

While you as the entrepreneur may be the brains behind the operation, you’re fooling yourself if you think you can pull this off on your own. You are going to need to bring in a good team to help you get off the ground, and then once you do, you are going to need a growth plan. What types of employees are you looking for? Which ones are you trying to avoid?

A big part of this is also your management style. Are you going to run things more top-down? Or do you plan to be more decentralized, delegating certain decisions to those more qualified to make them?

You’ll also want to take a look at yourself as a leader and manager and figure out how to improve. There are plenty of things we do without realizing that affect how employees view us and act towards us, and you really won’t see this until you are in a position of leadership.

Take some time to figure out what you want your company culture to be. You may think of culture as something that develops organically, and to a certain extent it is, but you can have a significant impact on the direction it goes. A lot of companies are adopting a more laid-back approach, offering their employees more and more benefits, such as unlimited vacation time and free coffee of the month subscriptions, as a way of trying to foster engagement and buy-in. This may or may not be the right approach for you, and this is something you’ll want to figure out as soon as possible.

All of these things should be figured out in the beginning because as you grow it will be harder and harder to make time for this type of planning. Spend some time as you are getting started and you’ll find yourself managing growth much better, setting your company up for success in the future.

 3. Exit strategy

When first starting out with a company, the idea of an exit strategy seems far away. But it’s actually very important to consider. Planning out your exit strategy means thinking long-term. It allows you to align resources so that you can move forward at the right time.

An exit strategy can come in the form of an initial public offering (IPO), a sale or a merger, but the thing to remember is that you don’t actually need to implement the strategy. If things are going well, you have every freedom to stay with the business. But plotting out from the beginning how you might exit gets you thinking big picture and this can only help your business.

Plus, having a clearly defined exit strategy plays very well with investors. They want to know how they are going to get their money, and demonstrating to them how this will happen increases your chances of securing the resources you need to get your company off the ground and heading towards prosperity.

 4. Marketing and branding

It’s never too early to start thinking about branding. In today’s competitive marketplace, having a strong brand is going to be what ultimately sets you apart. Much like the decisions you’ll make about company culture, choosing your branding strategy needs to be one of the first things you do.

Figure out what makes you unique, determine what you want to stand for and do some research to figure out the best way to communicate this to people. Social media is huge for building your brand, and if your target audience uses this medium, you may want to consider hiring an agency or consultant to help you.

In fact, this may be one of the best decisions you make as an entrepreneur. Successful marketing requires a full-time approach, and too many small companies try to do it on their own, only to end up wasting their precious resources without seeing results. It’s your job to do the high-level strategic thinking. Then, bring in some experts to help you execute your plan.

5. Cybersecurity

Here’s one not too many entrepreneurs think about, and it’s a real shame that they don’t. Cybercrime and hacking is the threat of the future, and small businesses are being increasingly targeted. They’re easier to get to, as they don’t always invest in the right protection, but they still possess valuable information. And the damage a hack causes to your reputation is often far too much for any small company to overcome.

Figure out how you’re at risk and what you need to do to protect yourself. Cybersecurity infrastructures can be expensive, and the last thing you want to do is to have to shut down your website or other services so that you can install new security measures. Don’t let cybersecurity become an afterthought. You’ll pay for it down the road.

Final thoughts

From the moment you decided to become an entrepreneur, you essentially converted yourself into a full-time decision maker. As the business grows, you will be faced with increasingly challenging choices, but with experience, you’ll learn what’s best for your business. However, until you reach this point, things can be a bit stressful. Consider these critical decisions every entrepreneur needs to make so that you can start your business heading in the right direction.

Join in the conversation! Among these five decisions an entrepreneur must make, which one do you feel is the most critical?

About the author: Founder of Digital Exits, Jock Purtle is an internet entrepreneur who specializes in the buying/selling and appraisal of online businesses. He began investing in websites as a hobby when he was a teenager, but it slowly turned into his full-time job. He works with other entrepreneurs frequently and enjoys sharing his knowledge to help others find similar success working for themselves.

 

Tags: , , , , , , , , , , , , , , , , , ,

Common SEO Myths for Local Businesses (Guest Blog by Michael Hayes)

The following post comes to us from Michael Hayes, founder and CEO of Darby Hayes Consulting, a full service Internet Marketing agency based out of NYC.


Common SEO Myths for Local Businesses

carlos-muza-84523

SEO can be a tricky and sensitive subject, both for professional SEO practitioners and for local businesses. Due to the fact that there is no official standard for how to practice SEO, practitioners have to develop their own theories, methodologies and tactics in order to practice effectively. Eventually these theories combine with bits and pieces of Google’s webmaster guidelines to become part of the collective industry “best practices.”

Then, SEO/marketing professionals and business owners will utilize these best practices to attempt to rank their own sites. This can be effective, but one must be careful to not treat these as “gospel.” Recommendations and best practices are not necessarily set in stone. Google (and SEO) is constantly evolving, and as such these best practices will change over time.

Whenever I come across outdated (or simply incorrect) “best practices,” i.e. strategies that don’t align with my practical experience, I make note of it. These are helpful when educating new clients, testing new theories, or performing audits. Today I’ve gone ahead and put together a few of these “myths” in hopes that I might dispel them, and help readers avoid potential and unnecessary pitfalls.

Myth #1: Directories are bad/good

Forgive the lack of clarity on this one. I’ve seen these myths go either way, both condemning directories as terribly evil or touting them as an effective way to drive ranking. The true story lies somewhere in between.

Directories have a very touchy history in SEO:

  • Like “Web 2.0s,” directories allow people to inject links to their website. This was abused in pre-penguin world.
  • Thousands of nonsense directories began being published, allowing people to list their website for free or for a small charge.
  • Legitimate directories still exist, and are still useful to users. They are usually manually curated and have other uses besides being link farms. Sites like HomeAdvisor, ThomasNet and Best of the Web come to mind.

So what are directories good for? Which directories to consider? Let’s have a look:

  • Do *not* inject anchor text meant to manipulate keyword rankings. Even if it is effective at first, it leaves you open to penalties and will likely need to be cleaned up via disavow or link removal requests later on.
    • Stick with “naked URL” (http://www.example.com), or Brand Name (“ACME Anvils”), and you’ll be fine.
  • Niche directories are great, if you can find them. Industrial manufacturer? Go for ThomasNet. Home service provider? Go for HomeAdvisor. Most niche directories will be hyper-local (City government sites, local chamber of commerce, etc). These are awesome for local businesses.
  • Stick with high authority and avoid the junky, fly-by-nighters. Directories with a DA50+ are probably fine.

Myth #2: SEO is all about “great content”

This section will allow me to flex my tactical SEO muscles while also taking shots at super “white-hat” SEOs that I’ve grown to hate over my nearly 10 years in the business. First, let me explain the history…

Google is trying to reward content that gets naturally popular on the web. This “popularity” is generally about backlinks. Backlinks naturally occur when content is “great” enough to warrant important websites mentioning and linking to it.

This is great and all, but “publish and hope for the best” is not a strategy. If you like blogging, go for it, but I wouldn’t set any expectations for natural backlinks (although you might get lucky). I certainly wouldn’t pay someone any significant sum to do this, not without a specific and detailed promotion plan.

This leads me to my next point. Great content is great, but it’s nothing without promotion. Things don’t go viral on their own, even though it might seem like it after the fact. The truth of the matter is that SEO takes active participation in generating links and exposure. Content is only the beginning.

I’ll go easy on the white-hats for a minute and say that proper outreach to influencers, well crafted and very high quality content can go a long way in furthering SEO efforts. However “publish and pray” is a far cry from this.

Myth #3: Landing Pages Need to be 1000+ Words

I love this myth because it speaks to a much larger problem that effects any blanket “best practice.” The truth of the matter is that landing pages *might* need to be 1000+ words. They might actually need to be 2000+ words. Or they could very well be 500 or less words. It depends entirely on the target keywords.

There is a fun saying that goes, “Google is dumb, but it isn’t stupid.” What this paradoxical saying is trying to get across is that basic SEO is straightforward (domain name + content + keywords + links), but trying to finagle these elements too much won’t get you anywhere.

Just because you need some content on the homepage for a local plumber, doesn’t mean that adding 2000+ words about the intricacies of pipe inspections will make your site rank any higher.

How do you know what word count is appropriate? Simple: take a look at the SERP (search engine result page) for your target keyword. Let’s have a look at one.

Doing a quick search for “Plumber San Antonio,” a very popular local service keyword, we see that local businesses make up 6 out of 10 results on Google’s first page (we’ve removed national sites like HomeAdvisor and Yelp).

See the word counts for these sites below:

san-antonio-plumber-rankings

While we see some instances of 1000+, upwards of 1700 words, the bulk are less than 1000. We even see a site ranking #7 with only 266 words on the page.

Now don’t get me wrong, this is only one keyword and not necessarily typical of your niche. The key takeaway here is to not blindly follow generic recommendations on word count. Sure, more relevant information for your customer the better, but jamming an article at the bottom of the page is a waste of time and a poor user experience.

Conclusion

I hope this has been a fun read and at least a little bit enlightening. Strangely enough, if you take one thing away from this article, it’s that you shouldn’t take any blog post (including this one) as gospel. Trying things out for yourself, see what works, and always keep an open mind, and you’ll go far in any industry (not just SEO).

What myth did you find most surprising? Do you have an SEO question for Michael? Leave a comment below!

mike-hayes

Michael Hayes is the Founder and CEO of Darby Hayes Consulting, a full service Internet Marketing agency based out of NYC.  He can be contacted at mike (at) darbyhayesconsulting.com.  Stay in touch with Darby Hayes Consulting at their Facebook Page.

 
 

Tags: , , , , , , , , , , ,

How To Make Your Startup Business More Efficient Now (Guest Blog by Kiley Martin)

The following post comes to us from Kiley Martin, a Philadelphia-based freelance writer, editor and blogger.


TimeIncreasing the efficiency of operations should be a primary goal of all business owners . However, enhancing business productivity often falls by the wayside when workload increases. People push things off and get stuck in the same old routines.

You might be worried about the need to spend money in order to make your business more streamlined. Especially in the startup world, it’s unavoidable. You’re introducing things for the first time and it will cost time and even perhaps a new position. You’re building something that wasn’t there before.

But spending money doesn’t mean inefficiency. In fact it often means the opposite, especially if you’re investing in the future of the business. If you spend $5,000 to save $5 every time you do a repetitive process, you’ll make your money back in no time.

With that in mind, here are some ways you can make your startup business more efficient.

Invest strategically to reduce costs

When a startup is founded, business owners choose not to invest in a lot of technology or equipment because it may initially increase costs. For instance, you may choose to use a manual fax machine instead of buying an electronic one with Bluetooth access.

However, if sending and receiving faxes are a critical part of your daily operations, using an electronic fax machine would save you time, paper costs, and the hassle of manning the machine when waiting on an important document. So, even though you may have to spend some money and invest in a good machine initially, it will make things easier later on by increasing your time and cost efficiency.

Cost benefit analyses like this are very useful for when you’re setting up your business as they can help you in the long run. Focus on strategic investments that impact your most important operations.

Automate your tasks. Focus on your specialties

As an entrepreneur, you will quickly become aware that just because you own a business, this doesn’t mean you are equally good at managing all aspects of it. You could be well versed in the nuances of how to sell an app, but you might not be familiar with the specifics of app development or coding. This paves the way for task delegation.

Foremost, you need to learn to identify which tasks you can do best and which need to be delegated to other employees so they can do it best.

This concept also applies to menial tasks. Even though you are a business owner looking to cut down costs, taking a full burden of responsibilities will not help your situation. If you spend three hours manually sending invoices to clients, you are spending way less time overlooking the state of affairs for your business.

It would be prudent to get software that takes care of your invoicing so you can pay attention to other tasks that demand your attention.

In the same way, menial jobs like sending receipts or overseeing the delivery of documents could take up mental space, time and energy. Hiring an employee to take care of these tasks or using a computer program can not only make things easier for you, but also streamline your business processes in the long run.

It will also free up most of your work hours so you can focus on other tasks that require your attention.

Furthermore, if you have a website, which you should, don’t spend too much time running it if you’re a website amateur. Allow a hosting service to take the reigns. You’re running a business, not a website or an AP department. You need to invest in these processes so they don’t eat away all your time.

Give feedback and encourage employees

Your responsibility does not end at hiring personnel. The reason why most startups fail is because they are unsuccessful at retaining talent. The employees may feel useless in terms of contribution to the overall venture if they are not encouraged regularly.

Sometimes business owners will stick to brief comments and words of appreciation that mean nothing to the employee. Without proper feedback, they can stagnate their progress.

Therefore, it is important that as a business owner, you develop a keen eye for the work of your subordinates, providing ample constructive feedback where necessary. This will develop your rapport with the staff and provide work fulfillment so they can keep working with you.

Plan your schedule and focus on one thing at a time

Most startup owners work long hours and sacrifice sleep for work. Yet, they always have tasks on their to-do list that still need to be considered. For them, the work never ends.

This does not mean that other startup owners have it considerably easier than you do. It just means that other business owners have learned to manage their time and their tasks.

But how do you end up going about that ridiculous pile of work on your desk? Well, the first thing is to list everything you need to do. Then, list the time you have in a day that you will dedicate to the tasks, and plan accordingly. Do not attempt to take on more work than you know you can do.

The same goes for your employees. Encourage them to direct their focus on single tasks, rather than multitasking. Intense concentration will produce better results and take less of a mental toll, resulting in quality and efficiency.

Do you have a tip for helping a business to run more efficiently? Share your advice by leaving a comment!

Kiley MartinKiley Martin is a freelance writer, editor and blogger from Philadelphia, PA. She has worked with several popular blogs and magazines. She recently graduated from Drexel University. She also enjoys mentoring and connecting with others on new technologies in web development and programming. Feel free to contact her at KileyAMartin@gmail.com

 
1 Comment

Posted by on August 28, 2017 in Business & Success, Guest Blogger

 

Tags: , , , , , , , , , , , , , , , , , , , , , ,

How to Ease the Transition to Working from Home (Guest Blog by Sarah Pike)

The following guest post comes to us from Sarah Pike, a Community Outreach Coordinator for BusinessBee, an innovative and resourceful company that helps small companies successfully manage and grow their businesses. Sarah is also a college writing instructor. Be sure to visit her author’s bio below to learn more and to connect!

————————————————————————————————

How to Ease the Transition to Working from Home

working from homeThe ability to work remotely grew 80 percent between 2005 and 2012 and it shows no signs of stopping.

Research shows working from home might be harmful to your health, but there are a lot of benefits you can gain from it too. If you’re nervous about making the transition from office work to working remotely, here are some ways to help make that transition a bit easier.

Learn to make yourself “present.”

Many people feel like they’ll miss out on opportunities by working from home. To combat this, make yourself as “present” at the office as possible without actually being there. Connect your smartphone and laptop to your office. Have instant messengers and email open at all times while you work. You can give the impression of being physically in the office by being easily reachable during your normal work hours.

Find more ways to connect.

Working remotely doesn’t necessarily mean working from home. Keep your options open. There are apps available, like Work+, designed to help you find available Wi-Fi connections no matter where you are. This way you won’t feel compelled to stay in your house all day, which can end up feeling just as confining as an office.

It’s been shown Internet access directly correlates to a person’s happiness, so having a good connection is essential to creating the perfect work-life balance. Make sure you have a reliable Internet connection at home or that you’re going to a coffee shop you know has a strong Wi-Fi connection. You’ll need a stable connection with speeds fast enough to handle your workload. If you’re unsure if your at-home Internet is up to par, this test can help you check your speed.

Set your schedule.

You can easily fall into a trap of staying in bed all day when working from home. To prevent this, sit down and define your schedule. It should follow a similar schedule you’d have if you were in the office. Begin work each day at a set time and stick to it. Just remember to end at the specified time each day too. Overworking when you work from home is an easy trap to fall into when you’re working in a solo setting.

As Ariana Huffington discusses in her book “THRIVE,” overworking can lead to sleep-deprivation. Not only can this lead to serious injury, as in the case of Huffington, but it can also lead to a fall in productivity and happiness.

Take breaks.

It’s easy to work without stopping when you don’t have people coming to chat with you or when you don’t have a break room to visit. In the same vein of setting a work schedule, you need to schedule break times. Set aside 15-minute breaks and a lunch period each day—and take them. Studies show people are more productive when they take their breaks.

Create your own commute.

For many people, the drive to work is the ideal time to mentally prepare for the day ahead. You may think you lose that period of reflection and preparation when you work from home, but you don’t have to. Take time each morning to walk to a specific place, maybe your neighborhood coffee shop, and back home. You’ll mimic the morning commute and give yourself time to relax and prepare before the stress of the workday takes over.

Avoid unnecessary distractions.

When you’re at the office, you don’t have the option of throwing in a load of laundry or starting to prep for dinner. When you work remotely, you need to stay disciplined to not do these things. These are distractions only serving to keep you from getting your work done. Set aside time to do your home-life chores when your work is done, not in the middle of it.

Make sure you still socialize.

Studies show that workplace socialization is paramount to getting ahead in a job. Not only does it make you more productive and help cultivate ideas, but it also builds trust among colleagues. Find social groups via sites like Meetup.com to help develop interaction or form a weekly or monthly get together with colleagues.

Over 75 percent of employers with remote work programs in place report happier employees. Clearly, there’s something to be said for working somewhere other than a cubicle. The key to making it work is finding the right balance for your schedule and needs. If you’re considering transitioning to working from out of the office, try out some of these tips to give you the confidence you need to get started!

FullSizeRender

 

About the Author: Sarah Pike is a Community Outreach Coordinator for BusinessBee and a college writing instructor. When she’s not teaching or writing, she’s probably binge-watching RomComs on Netflix or planning her next camping trip. She also enjoys following far too many celebrities than she should on Instagram. You can find Sarah on Twitter at @sarahzpike.

 

Tags: , , , , , , , , , , , , , , , , , , , , ,

Entrepreneurship in 2015 (Guest Blog by Amy Klimek of ZipRecruiter)

The following guest post comes to us from Amy Klimek, an experienced HR recruiter and VP of Human Resources for ZipRecruiter. Enjoy her insights and expertise on the topic of entrepreneurship. Be sure to visit her author’s bio below to learn more about Amy and her business and to connect!

————————————————————————————————

Entrepreneurship in 2015

Insights and Encouragement from an Expert

Entrepreneurship is equally rewarding as it is difficult. Though you may be free from the shackles of retail and corporate, such freedom comes with a price. As far as 2015 goes, the time has never been better for you to finally build that start-up you’ve always dreamed of having. Just be sure you understand the responsibility that is inextricably linked to power.

Start It
Too many people talk about their dreams but never act on them. They dedicate hours of the day envisioning that perfect business but never actually take the steps to achieve it only to regret their failure to act in their older years. For most, it’s fear that holds them back. Because we no longer have anything to fear, our mind makes up some that exist outside of our comfort zones. Anything that is not part of what it is used to is deemed impossible and not worth it. If you’re going to successfully start on your own path, it’s time to learn how to overcome that negative voice. Instead, use it to guide what precautionary steps you want to take to give yourself a safety net to fall into should something go wrong.

THE-MOST-DANGEROUS-RISK-OF-ALL

Understand the Competition
Now that you are putting together the research, you will inevitably come across blogs that give you reasons not to go after your dream and, specifically, the dream in your field. They all decry the sheer number of people vying for the same thing as reason enough to give up. Never listen to these people. If you wind up falling down a rabbit hole of negativity, stop researching for the day. What you need to realize is the reality of the situation. Those that generally enjoy what they do will share useful knowledge and be very positive about their accomplishments. The other 90% lack the talent and discipline required to succeed, no matter what credentials they try to throw at you. Instead, focus only on the 10%. These are the experts in their field. Though it will take you years to achieve what they have accomplished, they are great examples to look to for motivation and ideas.

10 Year Rule
Overnight sensations are a dream. The only people that earn this title are children that appear on television shows. What the media never reveals are the years of hard work the professionals put into their craft before they finally caught the public’s attention. Dubbed the “10 year rule”, John Hayes researched this phenomenon by taking the lives of famous artists (think Mozart) and statistically looking at how long it took each of them to begin producing their most famous pieces. In the end, 10 years was the magic number. Each and every master required a decade of dedication to their concentration before major success came into play. You are no different. Accept this and use it when you feel like you should just give up. Success takes time. It is a slow and steady pace that will get you to where you want to be.

Be Flexible
You might be the personality type that obsesses over every little detail, and with a venture into entrepreneurship, you’ve already plotted out every modicum of possibility. Unfortunately, this still won’t be enough to prepare for the future. Think big, plan small. Have a single goal in mind but do not be dead set on the path you take to get there. What may seem like something out of left field could turn out to be a well-placed opportunity that opens even more doors for you. Basically, pursue every avenue. As an entrepreneur, this translates into how you find your first clients. The importance of this lies in a single word: experience. If you haven’t already built a career in the corporate world, you are still young and lacking resume fodder that potential clients use as a means to judge your credibility. In these beginning years, you will not have much behind you and need to be willing to take on projects that don’t fit your ideal match but still bring some value to the brand.

Build What You Believe
As an entrepreneur, the world is your oyster. You are now free to pursue anything. While scary, it is nonetheless a freeing feeling. No longer are you wasting your time for someone else. You are working for you. A popular quote entrepreneurs cite describes that they would rather work 80 hours a week for themselves than 40 hours a week for someone else. When you focus on something that means a lot to you, 80 hours is still not enough time to devote. Yes, there will be days you wake up and wish you could just spend the day in front of the TV, but there are never days where you wake up and want to disappear. The stresses between business and freelance are different in many ways, but at least with freelance, success relies on your ability to work hard.

You Are Accountable
You are accountable for everything that happens, especially if you begin your run with just you heading up the fledgling business. This means that before you start reaching out to clients or hiring others to manage your affairs, you better have your own self-importance under control. Don’t think you can continue to take out your frustrations on others. They will no longer work with you. Don’t assume you can make excuses for a poorly completed project. You were the only one working on it. Instead, turn this accountability into a positive. Use it to continually better yourself and what you offer. If something goes wrong, assess what happened and make notes on how you can avoid the situation in the future. If you feel like berating others, take time away to understand why you are frustrated and what you can do to ease the tension. Turn everything into a learning exercise and you will be amazed at how far you can go on your own.

Amy KlimekAbout the Author: Amy Klimek is an experienced HR recruiter and VP of Human Resources for ZipRecruiter, a company that simplifies the hiring process for small to medium size businesses. Prior to that, Amy has held similar roles at Rent.com, eBay and US Interactive. For Amy, corporate culture isn’t about dogs and free lunches, it’s about empowering employees and creating an enriching environment for people to excel. Connect with ZipRecruiter on Twitter or Facebook.

 

Tags: , , , , , , , , , , , , , , , , , , , , ,

Last Call for the Bennis Blogger Battle

It’s been a fun ride for sure, but it’s time we bring the Bennis Blogger Battle competition to a close! There’s room for just one more entry this coming Monday, April 16th and this slot is first come, first served. (email me at Stephanie(at)BennisInc.com) If no entries are received by Saturday, April 14th at Noon, we will proceed with the announcing of the Grand Winner of the Blogger Battle on Monday morning!

I’ve been diligently tracking blog hits, likes, thumbs-ups and comments and you’ll be able to see how every blogger did and revisit their blogs if you’d like. If you haven’t given your support to your favorite entries, you still have time to go back and give them some love. This is also a prime opportunity for blog authors to share your entry with your networks in hopes of boosting your rankings.

Best of luck to all competitors and any final entries should be submitted as soon as possible for a final chance to be featured on the Bennis Inc Blog!

 
7 Comments

Posted by on April 11, 2012 in Guest Blogger

 

Tags: , , , , , , , , , , , ,

 
%d bloggers like this: