Successful Business – Top Reasons

1) Direction.
Every startup needs a leader with a vision. During the difficult times, the CEO needs a clear idea of the end mission and how the company needs to get there. A good business leader keeps the long-term in mind, while dealing with the immediate needs of a new company.

2) Speed to market.
You can’t be second when it comes to startups. Especially with the rate of technology development, the faster a startup can produce its service or product, the better chance it has in delivering to customers. Young businesses have to compete with established industries. One of the reasons businesses succeed is that they reach consumers first.

3) Financial savvy.
Successful startups know how to work within a budget. Managing finances and keeping a young company out of debt it can’t repay is key to becoming successful. Companies just starting out need to do more with less.

4) Well-Connected.
Just like early career builders, young startup companies can gain a leg up by knowing a few well-connected individuals. These companies use their social network for their first clients, investors, and mentors. As the old adage goes, it’s not what you know – it’s who you know.

5) Dedication.
Startups need leaders who are willing to work hard and stick to their goals. This leadership inspires others to commit to a strict work-ethic, aligned with the company’s mission. All employees must be committed and dedicated to the goal.

6) Perseverance.
Even when times get tough and the road to success offers bumps and blockages, startups need to persevere to achieve success. The majority of startups bail when money is tight or disagreements arise between founders. Successful businesses stick it out in turbulent waters and remember their end goal during difficult times.

7) Quick to Adapt.
Successful startups are comfortable with change. Leaders who know how to make smart decisions without a clear roadmap can take advantage of opportunities that more cautious companies can miss.

8) Knowing How to Attract Investors.
Money talks in the business world. Without the startup funds, companies can never get up off their feet. Smart business leaders know how to generate capital to give their million-dollar ideas a shot.

9) Confidence.
Startups need unwavering commitment to their mission and goals. Without the confidence that the company will succeed, the startup will dissolve when facing initial obstacles.

10) Efficient Time Managers.
There’s no down time when it comes to startups. If the leaders of a company are not putting in time around the clock, success is unlikely.

11) Execution.
Everyone can have a million-dollar idea. It takes moxie and strategy to put an idea into action. Knowing how to execute sets apart successful businesses from the failures.

Online Business – Stick At It!

I’m writing this article on a Friday, the start of the weekend.

Now, I make no secret of the fact that I love sport and the best time to enjoy the majority of sport, certainly in the UK, is at the weekend.

This is when many people make the most of the opportunity to enjoy themselves – spending time with family and friends, watching sport, going for a walk etc.

At this time of year it is Golf and Cricket that I particularly enjoy. I still play golf but my cricket is now confined to umpiring and the occasional bounce game.
What has this got to do with online business, I hear you ask. Well…

I also know that some people use their weekends to work on their online business. This is particularly true for those who are trying to set up their internet business in addition to their other employment. I know it can be a struggle to do this – it often feels like there aren’t enough hours in the week!

It isn’t an easy path and there will be lots of obstacles to overcome. Unfortunately, many people don’t appreciate this and as a result they soon become disillusioned.

I think that’s the reason why the following phrase is quite common amongst would be online business entrepreneurs – “I’ve tried that and it doesn’t work”. To me this reflects the fact that they had unrealistic expectations of instant success and have given up too early.

What they are really saying is “I tried that and it didn’t work straight away”. They then conclude that it will never work. But that just isn’t the case. Success comes by persevering, trying out new approaches, amending and tweaking something until you get it to work.

Think back to the great inventions and discoveries of our time – we would never have had them if people had given up after a few attempts.

It’s often quoted that Thomas Edison tried at least 1000 ways before finally creating the modern light bulb. So why should things be different for us?

If you’re struggling with some aspect of your online business then take this on board. Expect things to be challenging and develop a mindset of finding solutions to the problems that you’ll come across.

If you can’t get something to work first time don’t assume that it will never work. Persevere – try a different approach, ask for help and advice.

That’s what separates the successful people from those who give up at the first hurdle. I know it’s difficult when you spend hours of your weekend trying to figure something out when you could be out enjoying the sunshine!

But remember that it will all be worth it when your perseverance pays off and you start making sales in your online business.

Just remind yourself of this quote from Thomas Edison – Many of life’s failures are people who did not realise how close they were to success when they gave up.

So don’t give up – stick at it!

Now where did I put the Golf Clubs!!!

Multiple Incomes – Small Business and Internet Marketing

My journey along multiple income pathways has taken me on four quite different adventures. I have already written about the property pathway and Forex trading, so in this article I want to complete the picture by considering my small business venture and internet marketing.

1. Small business. I have a day job that keeps me very busy, but one of my ambitions has always been to have my own business. Many people have similar dreams, and some actually make the leap into an alternative career

One of the key things I have discovered is the importance of choosing a business in which one already has a certain amount of expertise. I have frequently heard about people stepping out of successful first careers, such as banking, into something completely different, perhaps wheelie bin cleaning or door-to-door selling.

Many franchise opportunities are available, and it may seem very tempting to pay a lump sum of money and walk into an existing business. However, without prior experience many mistakes can be made, and a significant number of franchise ventures end in failure.

My training is as a teacher, so I decided that whatever small business I would go into, it must involve education in some way. I therefore opened a tuition centre on a Saturday morning, and the business is now in its’ third year. I have an assistant from a local sixth-form college, and we rent a room in a local church hall.

So if you’re going to start your own business, stick with what you know and look for possible opportunities that will play to your strengths.

2. Internet Marketing. Most of my time and focus is now spent on internet marketing. The world wide web continues to expand at an incredible rate, and there are over 300 million websites out there. Nearly two billion people use the internet, and this represents 28.7% of the population. In some European countries, over 85% of the population are classified as internet users. The potential market is huge, and more and more marketing is going to take place over the internet.

However, competition is intense, and the days of uploading a website and sitting back and waiting for the traffic are long gone. To be effective means going out there and actively selling your site and product.

For a newcomer, as with any business there are many pitfalls and broken dreams on the way. Many people will offer advice and try to sell you the latest thing in internet marketing, but these ‘instant’ website packages are generally doomed to failure.

The old adage is that you get what you pay for. If you decide to cut corners and go with cheap offers, then you’re likely to get rubbish. Internet marketing is a business, and you wouldn’t expect to start up a profitable and long-lasting business of any sort for $100!

Be prepared to invest, but don’t jump at the first offer that comes along. Take your time and look for packages that are produced by well respected internet marketers who have been around for some time. Join forums and discussion groups and ask questions – who is actually making money, and what are they doing?

I have been involved with internet marketing for about five years, and I have made many mistakes. I have built websites that nobody visited, and I have wasted significant amounts of money on packages that promised much but delivered little.

I have now made my investment, and for the first time I really believe that I will be a successful marketer. There is money to be made on the internet, and with the right guidance and support internet marketing can be a very lucrative component of your multiple income pathways.

To summarise my experiences of multiple income pathways;

  • Property. This must be seen as a long term investment, and be aware of the hidden costs.
  • Forex trading. Find a system you like and stick with it, have sufficient money in your trading fund, and control the emotions!
  • Small business. Play to your strengths and look for opportunities in areas that you are familiar with. Avoid jumping into the unknown.
  • Internet marketing. Be prepared to invest in people and systems, and don’t expect to be an overnight success. My keywords for internet marketing are commitment, discipline and accountability!