After Decades of Conditioning, India Is Re-Aligning Itself With the Culture of Entrepreneurship

Globally, entrepreneurship has become a key engine for employment generation. As policy makers grapple with economic uncertainty and cultural changes, large corporations that traditionally created jobs are biting the dust. From 2003 to 2013, 712 corporations disappeared from the Fortune 1000. One can safely extrapolate that very few Fortune 1000 companies will be around in another 30 to 40 years. However a new breed of risk-takers and innovators in the form of entrepreneurs are beginning to line up on the horizon of business world. According to a report by the Kauffman Foundation, industrial era companies in the US dismissed more jobs than they created in contrast to high-growth startups that created the maximum number of new jobs between 2000 and 2010. Facebook has been credited with having created 4.5 million new jobs, directly and indirectly. This global trend makes a strong case for supporting Indian start-ups and entrepreneurs as a means to create future employment.

However, it is even more important to create a support system that ensures the survival of the start-ups beyond the first five years. In other words, once invested in a start-up, return on investment (ROI) can be assured only when the investment finds further sustenance. This is critical as 70 to 95 percent of start-ups fail or exit, resulting in disproportionately high job destruction. Studies have shown that 47 percent of the jobs created by start-ups are eliminated by exits in the first five years. It is the surviving 53 percent of businesses that witness rapid growth and bring about broad-based job creation.

This means that government policy must be attuned to the practical needs, while addressing the pain areas, of Indian entrepreneurs. The policy must address: funding to be more easily available to entrepreneurs; creating a large pool of experienced mentors and advisers who provide inputs around manpower and resource management, legal and marketing, partnerships and technology; and providing mechanisms to improve access to local and global markets.

It is evident that supporting entrepreneurship is a medium to long-term approach. The question that needs an answer is: what type of entrepreneurship should be prioritized for support so that success and subsequent job creation is assured? Today’s marketplace has become hyper competitive. Just take a look around. There are more choices available to consumers and enterprise buyers than ever before. There are new business models that don’t require buyers to own products or commit up front to long-term subscription of services. Delivery systems have changed, allowing businesses to reach customers in remote locations and new markets, bringing down geographical and political barriers. Entrepreneurs are innovating to give birth to entirely new asset-light business like Uber, Ola, Airbnb, Oyo Rooms, Zomato, Foodpanda, PayPal and Paytm. These businesses are re-shaping entire industries, forcing traditional players to re-think their strategies.

Igniting the spirit of entrepreneurship and sustaining it is also a long-term undertaking. Not everyone is blessed with the DNA of entrepreneurship. A culture of free enterprise needs to be nurtured. Today, one of the nations to have taken positive steps towards creating such a culture is the US where 1,600 colleges offer over 2,200 courses that ‘skill’ students in entrepreneurship. These courses build knowledge through academic studies, practical industry experience via apprenticeship programs, entrepreneurship clubs, boot camps and access to investor networks and support systems. Education, without doubt, is a way to ensure higher success rates for entrepreneurs. In India, we need to create cost-effective and scalable education models that help reach students using video and mobile technology on MOOC platforms that transform teaching into learning, thereby eliminating the need for massive armies of instructors and trainers.

Lastly, a substantial demographic in the form of Indian women remains untapped. Of the total number of entrepreneurs in the country, only 10 percent are women. However, even within these small numbers, women entrepreneurs from India-Kiran Mazumdar-Shaw, Sulajja Motwani and Ekta Kapoor to name a few-have been in the limelight. Significantly, a Dow Jones study has confirmed that start-ups with female executives have a higher chance of success. What they need to succeed is education, vocational training, access to funding and interaction with entrepreneurs and buyers across the world. According to The Organization for Economic Co-operation and Development (OECD), annual growth of the Indian economy could improve 2.4% if the country implements pro-gender policies.

Historically, Indian society and the education system have focused on creating doctors, lawyers, accountants, etc. These professionals are a necessity. But after decades of conditioning, the nation is re-aligning itself with the culture of entrepreneurship. We are at the cusp of entrepreneurial success. This opportunity must not be lost for the lack of policy and world-class support systems

3 Ways to Start an Auto Repossession Business Without a Tow Truck

With auto repossessions at an all-time high, getting into the repo business has never looked more lucrative.  And while you can make up to $500 per repo’ed car, investing in a tow truck isn’t cheap.

The good news is, you probably don’t need a tow truck to start your own repo business.  Here’s 3 ways you can get started in the repo industry on a shoestring budget:

Tip #1 – Partner With A Locksmith and Literally Drive The Repo Cars Away!

Nowadays, finance companies keep key codes on file for every car they own.  The key codes are a “blueprint” that tells locksmiths exactly how to create a key the same as the original.

Even if the bank doesn’t have the key codes, you can find companies online that will supply key codes for any domestic or foreign vehicle in less than an hour.  All you need to give them is the make, model and VIN number.

With your original key in hand, you can have someone follow you to the repo site and you can drive the car away!

Tip #2 – Work From Home and Help Banks Track Down Repo Cars

You don’t need to be a repo man to earn a living in the repossession industry.  You can start out by helping banks or dealerships track down hard-to-find debtors.  This service is called skip-tracing.  And they’re willing to pay big money for it since their cars are worth thousands of dollars.

You can charge $30-$100/hour to provide skip tracing services to banks – or even other repossession companies.  Of course, you’ll need to invest time and money in good training, but it’s well worth it considering you could make $60,000 starting out – without a degree!

Tip #3 – Become A Repo Job Broker

If you don’t like working nights and dealing with confrontational people, you could setup a web site to get repossession job leads in your town, and sell those leads to other repo businesses.  Then, as you gain more experience in the repo industry, you could take on more and more jobs yourself.

While these money-making tips are no substitute for having the right repossession tools, they’ll help you make money to pay for the equipment you’ll need later on!

Start a Dog Daycare Center

The busy life makes people crave for time. No one has time to take care of family members let alone the pets like dogs, cats etc. In this scenario people look for day care facilities for their pets. The requirement of dog daycare is increasing day by day, as owners do not want to leave their beloved pet alone at home. Therefore, the dog daycare business is having great prospects in the future. However, for those who want to start this business have many questions regarding starting of dog daycare center.

Dog daycare is more than about baby-sitting. Dog daycare deals with pet sitting involving multiple dogs, but with emphasis on proper care and attention. Since multiple dogs social interaction with other dogs is important, and handling different types of dogs is not an easy job. Dog daycare involves exercising, bite training, bathing, timely feeding, and playtime. What dog owners expect from a dog daycare is security, proper care, and pampering of their dogs when they are busy at work.

For those who want to start a dog daycare, it is very important that they have love for animals. First step for starting a dog daycare is to have a nice name for the firm. Then find a proper place to set up the business. If you have a large lot this could be your own backyard. Find sources for investment capital for setting up the infrastructure. There should be enough space in the building for indoor exercising. There should be enclosed yards for dogs to run around to socialize. There should be enough equipment for keeping dogs active as well as entertained while in day care. Numerous kennels must also be readied so that, non-socializing dogs could be separated from other dogs.

Once the infrastructure is ready get the required permits as well as licenses such as veterinary department permit, business license, fire department permits, etc. Then have training about dog care to make sure that the facilities and trainers are well equipped to handle the dogs. Dogs can be nasty at times especially among a group of dogs, so ability to handle any situation is necessary. Therefore, select the dog trainers with necessary qualifications in dog management, grooming and training for supervision of dogs, to ensure that the dogs are not bullying or becoming aggressive. The number of dog trainers should be relative to the capacity of the daycare center.

Setting up of diet service to cover the varying dietary needs of diverse dogs of age, as well as, breed is necessary. It is necessary to have access to veterinary medical services for the dogs in the daycare center. Cleaning service must be set up to keep the premises clean and clear of odours. There should be arrangements for dogs’ safety during rains and other natural calamities. Once these things are set, scale the charges for dog daycare services with your eye on recovering the investment and to cover the running cost. After that, advertise your dog day care to lure customers.

If this all seems like a lot of work, guess what, it is! But you can make it a more enjoyable experience by checking out the possibilities of franchising. Many very lucrative doggie daycare centers are already up and running and available for franchising. One such center is the DogSmith which has a unique setup and reputation. They can help you with all your questions and even some questions you would never think to ask. Buying a franchise is the best way to go because they also help with advertising and marketing your new franchise. This can be one of the largest costs after purchasing you franchise. So remember, franchising is the best kept secret of the 21st Century.

10 Secrets of Successful Entrepreneurs

Running a one-person business is a creative, flexible and challenging way to become your own boss and chart your own future. It is about creating a life, as it is about making a living. It takes courage, determination and foresight to decide to become an entrepreneur. From the relatively safe cocoon of the corporate world, where paychecks arrive regularly, you will be venturing into the unchartered territories of business.

Is there a way to determine whether you can be a successful entrepreneur, or you are better off to work for somebody else? Alas, there is no formula for success. However, most successful entrepreneurs share these ten characteristics. Check if you possess any one of them:

1. Think success. To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams. You need to have big dreams for yourself – which you want to be somebody rich, famous or fulfilled. You need to have a clear vision of what you want to achieve. But it doesn’t stop in dreaming alone. You should actively visualize success in your mind that you can almost feel it, touch it or it is within your reach. Play this image back at every opportunity. What does it feel to triple your current income? How will your life change? What will your business look like if you achieved the million-dollar mark?

Successful entrepreneurs possess an attitude of openness and faith that you can have what you want if you can simply envision it as the first step on the path of action to acquiring it. Management gurus have taught us the power of visualization – seeing yourself in your mind as having accomplished your dreams. If you want to be a successful writer, envision yourself signing books for a throng of people who have lined up to have your autograph. If you want to be rich, picture yourself in luxurious surroundings holding a fat bank account. And the process of envisioning success for you should be a constant activity! You need to think that you are successful (or will be one) every single waking hour.

A personal development coach shared me her secret to help her continuously visualize her goals for the moment: when climbing stairs, recite your goal with every step you take. So if you want more money, say “I will have money” in every step of the stairs. This technique will reinforce your goal and keep it fresh in your consciousness.

2. Be passionate with what you do. You start a business to change any or all part of your life. To attain this change, you need to develop or uncover an intense, personal passion to change the way things are and to live life to the fullest. Success comes easily if you love what you do. Why? Because we are more relentless in our pursuit of goals about things that we love. If you hate your job right now, do you think you will ever be successful at it? Not in a million years! You may plod along, even become competent at the tasks, but you will never be a great success at it. You will achieve peak performance and do what you have to do to succeed only if you are doing something that interests you or something that you care about.

Entrepreneurs who succeed do not mind the fact that they are putting in 15 or 18 hours a day to their business because they absolutely love what they do. Success in business is all about patience and hard work, which can only be attained if you are passionate and crazy with your tasks and activities.

3. Focus on your strengths. Let’s face it; you cannot be everything to everybody. Each of us has our own strengths and weaknesses. To be effective, you need to identify your strengths and concentrate on it. You will become more successful if you are able to channel your efforts to areas that you do best. In business, for example, if you know you have good marketing instincts, then harness this strength and make full use of it. Seek help or assistance in areas that you may be poor at, such as accounting or bookkeeping. To transform your weakness to strength, consider taking hands-on learning or formal training.

4. Never consider the possibility of failure. Ayn Rand, in her novel The Fountainhead, wrote, “It is not in the nature of man – nor of any living entity, to start out by giving up.” As an entrepreneur, you need to fully believe in your goals, and that you can do it. Think that what you are doing will contribute to the betterment of your environment and your personal self. You should have a strong faith in your idea, your capabilities and yourself. You must believe beyond a shadow of a doubt that you have the ability to recognize and fulfill them. The more you can develop faith in your ability to achieve your goals, the more rapidly you can attain it. However, your confidence should be balanced with calculated risks that you need to take to achieve greater rewards. Successful entrepreneurs are those who analyze and minimize risk in the pursuit of profit. As they always say, “no guts, no glory.”

5. Plan accordingly. You have a vision, and you have enough faith in yourself to believe that you can achieve your vision. But do you know how to get to your vision? To achieve your vision, you need to have concrete goals that will provide the stepping-stone towards your ultimate vision. Put your goals in writing; not doing so just makes them as intangible fantasies. You need to plan each day in such a way that your every action contributes to the attainment of your vision. Do you foresee yourself as the next Martha Stewart of hand-made home furnishings? Perhaps today, you need to see an artist to help you conceptualize the new line of hand-made linens that you hope to launch. Intense goal orientation is the characteristic of every successful entrepreneur. They have a vision, and they know how to get there. Your ability to set goals and make plans for your accomplishment is the skill required to succeed. Plan, plan and plan – because without which failure is guaranteed.

6. Work hard! Every successful entrepreneur works hard, hard and hard. No one achieves success just by sitting and staring at the wall every single day. Brian Tracy puts it out this way, “You work eight hours per day for survival; everything over eight hours per day is for success.” Ask any successful businessperson and they will tell you immediately that they had to work more than 60 hours per week at the start of their businesses. Be prepared to say goodbye to after-office drinks every day, or a regular weekend get-away trip. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. Working hard will be easy if you have a vision, clear goals, and are passionate with what you do.

7. Constantly Look for Ways to Network. In business, you are judged by the company you keep – from your management team, board of directors, and strategic partners. Businesses always need assistance, more so small businesses. Maybe the lady you met in a trade association meeting can help you secure funding, or the gentleman at a conference can provide you with management advise. It is important to form alliances with people who can help you, and whom you can help in return. To succeed in business, you need to possess good networking skills and always be alert to opportunities to expand your contacts.

8. Willingness to Learn. You do not need to be a MBA degree holder or PhD graduate to succeed in your own business. In fact, there are a lot of entrepreneurs who did not even finish secondary education. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potentials achieved their financial and personal goals in business because they are willing to learn. To succeed, you must be willing to ask questions, remain curious, interested and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business.

9. Persevere and have faith. No one said that the road to success is easy. Despite your good intentions and hard work, sometimes you will fail. Some successful entrepreneurs suffered setbacks and resounding defeats, even bankruptcy, yet managed to quickly stand up to make it big in their fields. Your courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. You must learn to pick yourself up and start all over again. Your persistence is the measure of the belief in yourself. Remember, if you persevere, nothing can stop you.

10. Discipline yourself. Thomas Huxley once said, “Do what you should do, when you should do it, whether you like it or not.” Self-discipline is the key to success. The strength of will to force yourself to pay the price of success – doing what others don’t like to do, going the extra mile, fighting and winning the lonely battle with yourself.

Intercepting the Digital Divide

"Today, high-speed broadband is not a luxury, it's a necessity." – President Obama, January 14, 2015.

Let's pause and reflect on what we have.

In some parts of the world we have GPS controlled drones and in the rest, we have around 3.6 billion people, who do not have regular access to the internet. These are the people who are terminally failing to get the benefit of the internet as an economic engine.

Digital divide is the gap in availability and access to information and communication technology (ICT) among individuals and communities. Numerically, this gap, ie people with no / limited access to computer or the internet, is three times the Indian population. The idea of ​​digital revolution cannot be achieved when 50% of the world population is excluded. In other words, this population can't compete on an equal footing in the labor market. The 'optimistic path' surmised by UN's Sustainable Development Goal 9 and Agenda 2030 also envision avant-garde industrial revolution dubbed Industry 4.0. As this industrial breakthrough is heavily dependent on the adoption of technological innovation, the population disconnected from this technological grid will be less informed and under-represented in the capital and labor market.

The ability to access computers and the internet depends on many interwoven factors ie, social, and economic dimensions. Nonetheless, the digital split can easily be bridged if these factors are broken down into specific action plans. Aside from these obvious barriers, the following would help narrow the gap:

Develop physical infrastructure: The Mason Analysis shows that the lack of proper infrastructure conducive to internet connection is more prevalent in the developing countries, especially in Africa. In this regard, key inputs such as development of terrestrial connectivity between the submarine cables, development of training centers and data module are perquisite to overcome the induction barriers of digital divide.

Promote investment and cooperation: The cardinal element to independent development of physical infrastructure is the liberalization of Public-Private Partnership (PPP) investment. Such a measure would boost investor confidence and could maximize the effectiveness of new investments conducive to financial and infrastructural resources. At this stage, policy remedy is required to lower licensing cost and high taxes on equipment and services. At the same time, integration of internet into the service delivery of government agencies and usage of communications infrastructure should also be highly prioritized.

Develop customized content: Developing physical infrastructure and providing training modules are not enough if local demand is not met. To welcome the next billion users, technologists need to deeply engage with local communities to understand their demands and ways to use this access. That way, internet and communications networks can be built to serve the demand. Responding to internet's actual demand is equally important as devising new schemes.

Less dependency on social media: Excessive indulgence into social media cannot help uplift the internet penetration because of its limited use. People can disregard the real power of internet penetration and benefit of usage if they are confined into the 140 characters on Twitter or the square boxes of Facebook profile. The challenge to adopt and apply the divergent tools of internet can be overcome if internet platforms and its hosting devices are used in smarter ways.

With its ubiquitous and inclusive presence, internet is the key to next-gen technological access. Realizing it, companies such as Google and Facebook are assessing the form factors of attracting more people online. Individuals, government, and corporations are equally responsible in bringing the mass people into the internet bracket. At the same time, the government should also have smart policy interventions to combat the handicaps brought by the usability divides and any other forthcoming obstacles for digital divide.

Not Your Grandfather's Factory: Modernizing Manufacturing to Attract Millennials

Why is engagement such a big deal in manufacturing and the skilled trades? Because according to a 2013 industry report, for every four trade positions that workers retire from, the industry is producing only one replacement. Worse yet, it's predicted that in the next decade, that 2 million out of the 3.5 million manufacturing jobs available will go unfilled because of the lack of available talent.

Now you may be asking, how can that be? With millions of jobless Millennials, who happen to be facing an unemployment rate that is double the national rate, don't we have enough people to fill those positions? Not until we change the image and perception of manufacturing – for both kids and their parents.

For the past two generations, young professionals haven't exactly been leaping at the chance to work in manufacturing. Part of the problem is the stigma that manufacturing has – working in an unclean environment, with outdated thinking, and little room for growth. The other, bigger issues are the parents who have discouraged their kids from attending trade or technical school and instead promote the value of a four-year degree from a college or university. According to the National Association of Manufacturers and the Manufacturing Institute (NAM), only 3 in 10 parents would consider encouraging their child toward a manufacturing career. The perception has been that you go into the trades if you are not "college material." And parents want their kids to be "college material."

As the United States is now undergoing a "manufacturing renaissance" and looking to produce their goods on American soil again, there is an urgent and growing need for new talent.

So, how do you make manufacturing jobs more attractive and appealing to prospective employees? You can start by modernizing your brand. If your company is stuck in an old, calcified way of doing business, you're going to have a hard time finding and keeping younger workers.

Today's workers are digital natives. They are "wired" for technology in a way unlike any previous generations, and they expect to access it in the workplace. That's why it's critical for manufacturers to not only have cutting edge Industry 4.0 technology available, companies need to promote the technology used in their production process. Millennials will be pleased, if not surprised, so know that more than two-thirds of US manufacturing companies are adopting 3D printing and more than half use robots.

Look for ways to better utilize mobile devices, videos and virtual reality in your hiring process as well as throughout the plant. Millennials are used to watching videos to learn about new things, so why not use YouTube or another video website to give potential hires a realistic view of "a day in the life" of a worker at your facility. Keep the videos to 2-3 minutes of less and capitalize on the "wow" factors of the job. Not sure what they are? Ask your current team members what they enjoy most about their job. You may even want to interview them and let them share their story in the video. In doing so, you're letting job applicants know that this isn't their grandfather's factory!

One of the first places to start is your company website. Yes, it's a great place to share what your company is all about, but it needs to be real – not a bunch of mumbo-jumbo "marketing speak." Look for ways to share your company culture and mission. What is it like to work there? Demonstrate how your products and services serve a greater mission that simply making a profit. Take advantage of your online presence to show how your company makes a positive impact on society.

Next, check out your social media. (Now, if you're saying "What's that?" Or "That's just a fad," you have your work cut out for you.

Figure out where your potential hires are hanging out. They may not be on Facebook, they may choose Instagram, Twitter, or LinkedIn instead. It's important to make sure your channels are active and up-to-date. Give your employees opportunities to share what's going on from their perspective. Post pictures from social events, charitable projects, and other fun occasions. Does your company look like a fun place to work from a social media standpoint? If not, look for ways to improve public perception. When done well, this can be a relatively quick fix – just start posting! When you have an active, engaging online social media presence, it builds credibility with potential hires from the younger generations.

Finally, keep in mind that Millennials are always connected. They look for one-on-one communication and immediate feedback. They consider their managers and leaders their peers and want to have access to them. If the only time you're giving feedback is during the annual review process, you're going to lose. There are lots of online tools, pulse-type surveys, and artificial intelligence programs that can help give feedback on demand. Communicating frequently and keeping employees in the loop will do wonders for engagement and performance development.

The digital nature of today's manufacturing is opening up many opportunities for skilled positions, transforming the manual nature of a factory job to the high-tech environment it is today. According to Vicki Holt, President and CEO for Protolabs, "Digital manufacturing is revitalizing our industry and is igniting new opportunities. The skills gap presents a critical roadblock for all of us. But it's encouraging to see a renewed optimism from a new generation of workers , and to hear that they understand this isn't their grandparents' manufacturing industry. Much work remains ahead of us, but this is a good start. "

Entrepreneurial Mindset: The 7 Magical Keys

So, how important is an entrepreneurial mindset and what are theses 7 magical keys or skills that you will need to acquire or adopt?

1. Attitude With Passion

I believe that this must be the starting point on any quest of this magnitude. When moving from the mindset of an employee to that of an entrepreneur, you need to crack this specific key. If you fail to understand the significance of a passionate attitude, the remainder of your quest may possibly be out of your reach.

To me, attitude with passion is everything, when it comes down to it, with the correct attitude, you either complete an action or not. By adopting the right attitude you either stay on track and keep moving in the direction of success or you fall by the wayside.

To be highly competitive in this current climate, I believe that separating attitude and passion, is a big mistake. So, can you have a winner’s mentality and exclude being passionate about what you do? I do not think that you can prise these two apart and win.

Your passionate attitude says all there is about you and your future. It will seep into absolutely everything that you do moving forward.

The only question at this stage would be to ask, ‘Are attitude and passion enough, on their own?’ I will let you answer that vital question.

2. Clarity Of Action

Clarity of action is an immense skill set to establish and the power of taking action is driven by clarity.

The important points here are knowing exactly where you are going and being prepared to take the necessary steps to make the dream or ambition turn into a reality. It is of the utmost importance that an entrepreneur has to accept that failure along the way is a part of the success trail and that he or she will learn from failure as well as success. An entrepreneur has to roll with the punches, like a boxer and not be too concerned when things go wrong.

As Tony Robbins states, ‘Clarity is power.’ and I agree, but ‘clarity is simplicity’. The combination of these two jewels cannot be underestimated.

So, in other words what entrepreneurs seek is to know their outcome before they embark on a new project, because this keeps their target clearly in focus. On the other side of the coin it also suggests to us not to over complicate things. An entrepreneur’s reasons are also key in developing the correct mindset on an ongoing basis but we will not be covering this subject in this article.

Once clarity is organised or known, entrepreneurs can just get on with the job in hand and develop and implement a massive action plan. If the entrepreneur adds persistency and consistency to the mix of clarity and simplicity, they will be well on the way to grabbing the prize.

Entrepreneurs are clear and concise on what they want and pro-activity will be moved onto the fast track and must be.

3. The Quest For Knowledge (personal development)

To continue the move towards gaining an entrepreneurial mindset the budding or seasoned entrepreneur will have to develop a thirst for continual knowledge and training. They must never stop their quest to find out more.

The successful entrepreneur will know that you never stop learning and although developing leadership is a key ingredient, he or she will be prepared to listen to people as well as lead his team.

This is definitely one of the areas which will assist you in developing a magnetic personality and charisma. Also your internal focus and monkey chatter have to be self monitored, you know, how you relax and also what you say to yourself on a consistent basis. Remember you will become what you focus on the most.

4. Innovation and Creativity

During the quest for that elusive complete mindset, a student should be flexible with everything that they attempt and always be on the lookout for new, fresh and creative ways of reaching their goals. They should always innovate, adapt and overcome challenges, problems and obstacles in any way that they can. Being prepared to take on necessary risks when required, is also an important factor to be considered.

Being open-minded and a free-thinker are also keys in assisting creativity and confidence. These skills will duplicate and cascade down into any team setting or group environment.

5. Honesty and Integrity

If you take any one of these pieces of the jigsaw out of the equation, you would reduce your ability to reach the lofty heights that you have tasked yourself with. So, being honest and using integrity become a way of life and they have to become daily habits and a part of who you become as a person.

When implementing a plan or communicating with others, ethics and morality pay a huge part in building the correct entrepreneurial mindset. Although effective decision-making is a an art and a critical component on the success trail, those decisions have to be ethical and moral. In this day and age anything less probably will not be tolerated by people in your drive for excellence.

6. Progressive Problem Solving

Any person wishing to be considered to be a top entrepreneur will need to become a progressive problem solver. If they learn to solve a person’s problem, they will be an attractive person to work with because they just became valuable to the marketplace.

How does an entrepreneur become great at progressive problem solving? It starts by asking the right questions, understanding the problems that are being faced and reducing the problems to its simplest terms.

Having identified the problem or challenge, never talk about the problem again, only talk about the solution. Then an entrepreneur would go to work on finding the answers with a winning attitude and act as if the problem was already solved.

7. Your Philosophy Of Belief

This is all about your total philosophy, about who you are and what you believe in as a person. I think this ties everything together and completes the package. Your philosophies are personal, but I feel that you must have philosophies which allow entrepreneurs to flourish, if you are yearning to complete your education in relation to achieving the correct entrepreneurial mindset.

I think that the first thing you have to believe in is yourself, because without that you are just going to plain struggle. You must know that you are already very good at what you do, but without adopting an inflated ego and continue to keep that belief in yourself no matter what happens.

Secondly you must have belief in what you are doing, so if you are training to be a marathon runner, business owner or guitarist, then belief in the activity is a major key. There is a big link between passion and belief here, that cannot be severed or parted.

Lastly if you are in a home business you should have total belief in your product(s). If not, consider promoting something different.

Philosophy and belief although combined here, can be separate subjects and discussed in-depth elsewhere.

In Conclusion

I hope this has assisted you in some way to understanding the subject of developing the entrepreneurial mindset and also what I believe to be the 7 magical keys to work towards or consider when implementing on your quest.

Success Can Be Yours If You Only Believe in Yourself

There are some who have been brainwashed to believe that success is not meant to be for them. That it can only happen to people that are already wealthy. Success comes to those who believe in themselves. You need to develop a mindset. Be determined and persistent. Eventually, slowly at first, but success will come. It’s a true fact that nothing worth while comes easy. Building a business takes work. Develop a passion for obtaining that success.

Many of us are afraid to try something new.. We are brainwashed in believing that because we are from a certain area or background that we are not meant to be prosperous. Our Lord wants us to achieve wealth. We were promised the riches of Abraham. Believe in his promise and believe in yourself to achieve your goals. Write down your goals, read them aloud every day. Believe in yourself to fulfill those goals.

Every successful entrepreneur has had some sort of training. Education is definitely the key to success. There are many programs for learning how to market efficiently online. We are always learning.

There are a few training programs that have helped many entrepreneurs to get started. They teach the benefits of attraction marketing. How to market yourself and attract others to you. A few ways to market yourself are:

  • writing articles
  • creating HubPages
  • creating Squidoo pages
  • blogging
  • social networking
  • videos

Of course these are only a few of the ways to market yourself. You will learn more ways to market yourself in the training that you will receive when you gain access to one or more of the training programs offered. Don’t let negative influences hold you back from fulfilling your goals. There is a program that was written specifically for those who want to build a business while sticking to their budget.

Where there is a will, there is a way.. Never give up on you.

Franchises – A Proven Business System

Franchises offer the first time business owner a proven and successful business opportunity. If you are looking to start your own business for the first time, franchises provide you with the greatest opportunity for success. When you purchase a franchise from the “Franchisor”, and become a “Franchisee”, you are not only purchasing a business, but a complete business system.

Franchises have over a 90% success rate, compared to about a 15% success rate for those indidviduals starting their own businesses from scratch. Franchises have spent years developing and modifying their systems of doing business, and they pass that “trial and error” knowledge on to their Franchisees. Initial training exists for every aspect of the business, which can last anywhere from 1 to 2 weeks. Training usually takes place at one of the franchises existing locations or their corporate office. Training may consist of the day to day “hands-on” positions required to run the business, to marketing, hiring, purchasing, bookkeeping, management and supervisory techniques.

Assistance is available with “demographic” reports to aid in selecting the right location. Support is also available for lease negotiation and “build outs”, if necessary. Pre-opening strategies and marketing materials for newspapers, print-ads, handouts, yellow page advertising, radio and even TV ads are are complete and professional.

During the first few weeks of business the Franchisor may provide its own personel to the Franchisee for assistance and support. This helps ensure a smooth opening. Additionally, once the business is open, a Franchisee will receive ongoing assistance and support from the Franchisor, not to mention support from the other franchisees, all who are all just a phone call away.

Once a year or more Franchise Meetings occur between the Franchisor and their Franchisees to exchange ideas, develop new techniques and strategies, and to compare progress and profits.

All of this is not free, of course. Franchisees normally pay the Franchisor an initial Franchise Fee, plus monthly royalties which can range from 3% – 12% of their total income per month. But it can be well worth it!

In owning a Franchise, you are in business for yourself, but you are not by yourself!

(Copyright 2005-ehbvi-http://www.businessventureinc.com)

Training Business – How to Charge For Training Programs

If you’re making a living in the training profession, one of your challenges is to figure out how to charge for your services. While it might seem a little overwhelming, there are just a handful of strategies that you can choose from. Here are the most typical ways:

BY THE HOUR

You determine an hourly rate and then charge the client for the time invested not only delivering, but preparing, your training program. The longer it takes you to prepare for a seminar, the more you charge. If the client throws in extra work or wants changes mid-stream that add to your preparation time, then you would, of course, make more money. But there seems to me to be a different perceived value for someone who charges “by the hour” than for someone who has a set rate. There is a perception that you could be dragging things out to benefit your pocketbook.

BY THE PERSON

The second way of charging is to charge per person. This is the most common way of charging when you conduct “open” or “public” seminars, where people sign up individually to attend your program at your facility or in a hotel or conference room. In these cases, the trainers are counting on-and compensated by-quantity. So, you obviously make more money the more people who sign up. Of course, the marketing costs of this type of charge system are usually quite high, so you might not net as much proportionately as for a per-session charge for a corporate seminar. Charging per person for a corporate workshop is not very practical, as your final fee isn’t known until the day of the program when you see how many actually show up. On the other hand, if you charged by the session, you get the same amount whether 50 show up or five.

BY THE SESSION

This form of charging, by the workshop, is the most common for most trainers who do business with companies. You create a set fee for a session. This is an effective form of charging because the both you and the client know and agree up front what the fee will be — and it’s not impacted by the number of attendees. If only half the number show up who were anticipated, your fee isn’t impacted. Usually you would consider “quantity discounts” for multiple programs. There’s an understanding that there are some “fixed costs” in a workshop, usually in the preparation, so a program that’s half the normal length will not necessarily be half the fee. And a program twice as long will not necessarily cost twice as much. And multiple programs also are usually charged at discounted per session fees.

MATERIALS AND EXPENSES

In addition to the training fee, it’s expected that you would also charge for expenses you incur as a result of delivering this training, usually travel related such as airfare and hotel if it’s out of town or parking fees if it’s a local job. If there are things you routinely purchase for your workshops, such as flip chart markers or candy or name tents, there is an understanding that those items are already included in the cost of your fee. You would not pass on those costs that are part and parcel of your training.

However, learning materials are considered a bona fide extra charge. If you prepare materials for the participants, such as handouts or course workbooks, or if you include your published book or audio CD for each attendee, you may choose to add a per-person materials fee. You can decide if you want to pass these costs on as expenses to be reimbursed (in which case, you include the invoice from the printer who made up your notebooks) or if you want to mark them up to make a little profit.

Whatever way you choose for charging for your services, materials and expenses, remember to always have it agreed to in writing beforehand. Whether it’s a formal, legal contract or simply a letter of agreement that both parties sign off on, it can save you a lot of heartache later if you have your terms in writing.