How To Start A Business From Scratch

If I were to start a business from scratch today, the first place I would start is not with what form my business should take. Everything in business should flow from one place: the customer. What the customer wants, how much he or she is willing to pay, how we will solve the customer's problem, and so forth. If we start an S corporation or an LLC can be thought about and done later on.

Businesses Fail

The main reason we start at the customer and solve his or her problem is because we need the foundation of a product that will sell for a profit. One that will continue on for years to come. Without that, there is no business. If you go all out and start a business without this kind of product, the business is likely to fail. In fact, even if you come up with a great product, you still have a high risk of business failure. But without a great product, it is almost a certainty.

The Customer's Problem

Finding a problem to solve is finding an opportunity. You add value when you uniquely solve a customer's problem with a product they can buy.

What is a product?

A product can be a physical product such as a shovel, a digital product such as an eBook, or a service such as business consulting. It could also be a method of distributing that adds value, or a way of organizing or combining existing product lines. Really the product is up to whatever you can imagine.

Trial Sales

Initially you can sell under your own name, which is the same as a sole proprietorship. If you find that your product sells, you can always sell your sole proprietorship to your corporation or LLC. But until you find a product that really sells for a profit, you should continue using trial sales.
What problem do you have?

After finding a product that sells for a good profit, evaluate your own business problems. Evaluate how you can serve the customer better, your concern for liability from damages or injuries, potential cash flow pitfalls, and so forth. Incrementally improve your business as you discover your own problems, especially focusing your attention on the customer. At this point you will probably want to consider business structure.

Have you run across a customer problem to solve? Can you create a product that will solve it?

About The Author

Brian Satterlee ran the successful multi-level marketing distributorship Satterlee Marketing from 1997 through 2002. He created an ecommerce site to sell a dietary supplement and recruit new sales people. When the MLM company changed to a retail marketing plan, Brian decided not to start again but to devote time to his family.

Brian now writes and works as a Business Analyst. He received his MBA from the University of Phoenix in 2009.

Visit http://www.splashplan.net for more free small business tips from Brian Satterlee.

Article Source: https://EzineArticles.com/expert/Brian_Satterlee/604622

Self-Talk Your Way to Failure

Recently I reviewed some studies that say 77% of self-talk is negative. That's a bit stunning when you consider how important self-talk is to one's daily being. The entire concept of self-talk is what becomes fired into our sub-conscious mind. The reality of thought and action comes directly from the messages in our sub-conscious.

Earl Nightingale said: What we plant in our sub-conscious mind and nourish with repetition and emotion will one day become a reality.

The powering of our subconscious mind comes from our self-talk and once programmed the subconscious will work overtime to manifest what it believes you desire. It has no concept of real or imagined, good or bad, right or wrong. It only knows what you told it you want and its mission in life is to give you exactly what you want.

Over many years I have benefitted from keen awareness of this so-called secret. It's not a very well-kept secret but is clearly protected because so few people choose to become aware of it. Even when aware most people don't believe in it, they remain skeptical and choose to continue doing the same things over and over all the time expecting different results.

Now, I decided to ask myself "how does self-talk create victims?" As such it dawned upon me that victimization wasn't simply an action it was a habit. And as all habits are prone to do it is ingrained. Financial victimization is epidemic in our nation. Proof of this is all around you. Consider the reality that we are the richest nation on the planet (no other nation is remotely close), in fact many studies have said that we possibly control over 80-90% of the world's wealth. On the other hand we also have the highest rate of financial illiteracy in the world. How can this be? Is it somehow possible that Americans are just luckier than any others in the world? I can attest to the fact that it has nothing whatsoever to do with luck.

The primary essence of success is a mindset that understands failure and the great powers in many failures. There is no success without failure. Sadly many have joined a conformity that is perpetrated upon the premise that failure is bad and should be avoided at all costs. This is commonly referred to as mediocrity and our society is mired in it.

The great American dream was always promulgated upon the opportunity to attain substantial wealth based upon the dreams and desires one creates in their mind's eye. This has always and still does exist, yet the shades have been pulled down to eliminate the light of abundance and opportunity. It is replaced with a pursuit of security. The pursuit of security begins with a small handout, it could be a government subsidy or a form of continued employment. Either way it becomes a yoke which often burdens one with a lack of opportunity. No one reaches financial independence through the pursuit of security, just doesn't happen. The two are diametrically opposed. Entrepreneurial spirit is one of risk taking and it also is one of pure sacrifice and commitment. The cavemen originally showed this personal initiative and provide us with the ability to survive. It is commonly referred to as the flight or fight syndrome. The stark reality is that 5% of the population is financially independent and the other 95% chooses to flee when the fear of success lights upon them. Their self-talk directly condemns them to the fear of failure and as such they never cross the divide of failure and success.

This can be changed, but it takes personal integrity and great risk tolerance. No running when fear of loss knocks on the door. No avoiding failure when it appears. It requires changing the thoughts one allows to linger in the mind and also a pure self-confidence in all one undertakes.

Presently there is a massive financial epidemic which is directly the largest form of financial victimization in our society. This epidemic is known as Reverse Compound Interest Syndrome and all are suffering from it. Our mission is to fully eliminate financial victimization is all its forms. We accomplish this through promoting awareness, providing financial literacy education and lastly helping as many people as possible achieve financial independence.

The exceptional state of financial independence is achieved by only 5% of our society, this is a very sad commentary for the richest nation in the world. Upon closer reflection our nation also has the highest rate of financial illiteracy and there is the anchor that relegates the 95% to a life of financial dependence at best! You are different though, you are an entrepreneur and as such you thrive on risk taking, you acknowledge that failure is to be expected and used as an educational tool. And most importantly you value persistence above all other human characteristics. So continue on your path and always keep your self-talk positive, knowing that the most important expectation of all is YOUR own!

The Advocacy Network works with Financial Services professionals by providing them a platform that pays them to prospect and create UNLIMITED referrals. Here is an educational webinar that describes our opportunity https://youtu.be/Rwv8MENlGhE

Article Source: https://EzineArticles.com/expert/Karl_Schilling/840877

Poor Performing Processes Can Stop Your Growth

Small businesses often launch with manual processes that the owner and the initial support team create. As the business grows, processes become more complex and more people are added to manage the business. Occasionally, these manual processes are augmented with standardized accounting packages and computer spreadsheets. This combination of manual processes cobbled together by spreadsheets is both the enabler for continuing existing operations and a constraint against achieving profitable growth.

With each new customer, the more frustration grows. Gaps in processes, lack of access to information and poor communication between team members begin to plague business performance. Precious time is spent chasing down pieces of paper or reworking customer schedules and installation and support commitments. Manual processes require people to waste time performing mundane, routine and repetitive tasks. Lack of access to information about operations, production and customers means this vital knowledge is stored in different individual's heads. The team works long hours to keep up with the demands of the daily grind to support demand from customers.

The first cracks begin to show when a customer is disappointed because a service technician did not arrive when expected, or the product lacked expected features requiring rework, or the customer's order simply fell through the cracks and had to be rescheduled for a later date. The team scrambles to overcome each one of these examples, taking further attention away from already overloaded work schedules. These cracks also leave long term damaged impressions on customers, who may become reluctant to provide precious referrals to new prospects.

Employees struggle to maintain an optimistic and motivated outlook in this atmosphere. They work hard, yet things still go wrong. They drop everything to correct the error while keeping all of the other wheels turning. When a key employee quits the business, it can have severe detrimental effects. First, is the immediate task of keeping that person's work going, often requiring the owner of the business to step in. Second, is the cost and time required to hire and train a replacement. Third, occasionally key employees leave and start their own businesses to compete with your business, believing they know how to do it better.

The long term costs to the business of operating this way are enormous; a minefield that blows up any further efforts to acquire more customers and grow. Even in its present state, it is a huge drain on productivity, profitability and customer satisfaction. Many of these small business owners balk at the cost of hiring business process experts and acquiring software to automate their businesses. Paying tens of thousands of dollars to third parties can seem to a small business owner like an extravagance that they cannot afford.

This short-sighted perspective is a looming train wreck. Justifying the expense on current narrow margins produced by the business may seem risky when a five-week payroll cycle can play havoc with cash flows. Leaving the system as it is puts the very existence of the business at risk. The right decision is to pause temporarily to retool the business operations, systems and people so that when you put your foot back onto the accelerator the business will grow faster effortlessly, and far more profitably.

Patrick is a coach, speaker, and trainer to individuals and business leaders. He helps leaders to achieve success by clarifying their vision, strategic plans, leadership, change management, brand and marketing strategy. He helps individuals to remove self-limiting beliefs and fears that prevent them from acting on their goals and dreams. http://www.patrickgsmyth.com

Article Source: https://EzineArticles.com/expert/Patrick_Smyth/33422

Is It Work, or a Lifestyle?

There are two things that my friends find surprising, OK maybe 3: 

1. I travel more now than I ever have
2. It's Friday night at 7:30pm and I'm working
3. I'm looking forward to some "office time" tomorrow

The misconception here is whether I'm actually working (when travelling so much) and why I give up Friday nights and Saturday mornings to spend time catching up.

The answer, truthfully, is that this isn't "work" for me, it is my lifestyle.

And comparing their work (stuck in an office on a beautiful day, set vacation weeks), I'll take my lifestyle. I've worked hard for it, and I love it.

Let's take my surprising facts from the beginning. 

1. I travel more now than I ever have - How much fun is that! Yes, sometimes I travel for a true "shut off the email" vacation, but other times I'm just going along for the ride. I just returned from another adventure and worked more than 50% of the time. I successfully put in a full work day while on the plane; I am the master of working offline. During my 5 day trip I only actually took one day off.


2. It's Friday night and I'm working - now I'll admit I'm sitting outside on the patio, not tucked into my office, but I am working. Why? I happen to be creative on Friday nights, and I wanted to share this time with you. I've had a busy week, and its Friday night quiet time when my mind roams, and I start pondering business, the challenges of the week, and many times this forms the basis of the blogs. But tonight, I'm sitting outside with my laptop, just so thankful for the lifestyle I have, and that includes this time with you. Not thankful, however, for the massive spider making its way over here... this is why I don't often work outside!


3. And tomorrow, yes, I will work tomorrow morning. I have a cute little project that I've just started working on, and I've set aside "date time" with it. I have my morning planned, a good cup (OK, pot) of coffee and back outside I go to let my mind explore what's possible. I'm actually very excited about it, and have been planning it over the last few days.

What some consider work, is my lifestyle. The creative process is important to me, giving myself the space to explore the projects in front of me while my mind is relaxed and at ease is an indulgence I take seriously. I appreciate the concerns of my clients, and don't mind checking in over the weekend, if that's what helps them. We're partners, and we're on this journey together. Checking in, isn't work. It's a privilege to be on this journey with my clients.

My hope is for more of my colleagues (and friends) to break free of the concept of work, and explore their entrepreneurialism as a lifestyle, as bliss, and as an expression of their passion. Work should be what's in your heart, what your soul is telling you, and where your dreams lead you.

And if it isn't... how can you get there?

Share with us your lifestyle goals - and let's dream a way for you to get there, together.

We help business owners find more time.

Discover how entrepreneurs just like you have freed themselves from the overwhelm of tech. Download our FREE report at https://pmawebservices.com/

Article Source: https://EzineArticles.com/expert/Peg_Murrah/1101384

How To Stay Alert And Aware As An Entrepreneur

What makes a successful entrepreneur? Of course, the answer to that is many different things but one of them is definitely their ability to know what is going on within their own industry, within the world of business in general and especially with entrepreneurs and entrepreneurship.

Successful business owners keep up on what is going on and stay informed of the latest trends, market shifts and opportunities so that they can take any advantage they can get to make their business grow. So, how they stay in the loop so successfully?

#1 Successful Entrepreneurs Talk to Other Entrepreneurs

People there in business for themselves don't exist in a vacuum. Besides their customers, suppliers and all of the other support systems that they have around their business, they also have friends and colleagues that are also entrepreneurs and keeping up with these people is one of the best ways that they have a staying informed.

Whatever the virtual water cooler happens to be of these entrepreneurs - usually a forum or social media network - they share information, give advice and keep each other updated about entrepreneurship.

#2 Successful Entrepreneurs Read (A Lot!)

One thing that you will notice about those successful in the business world is they tend to read publications, websites or even social media posts about their business - and that includes books by some of the most successful motivational authors.

The successful people like to stay informed and they like to learn new things. There is so much information on the Internet that you could spend decades learning about a subject and still not know everything about it and being as informed as possible is equal to being as successful as possible.

#3 Successful Entrepreneurs Use The Insider Intel To Improve Their Business

All this information that they gather isn't just going to sit stagnant, either. They are going to use this information to improve their business, increase their revenue or bring in more customers. Successful entrepreneurs know when they learned something useful and work to implement it as quickly as possible.

#4 Successful Entrepreneurs Help Others Succeed Too

Another thing that you'll see is that the more successful entrepreneurs they become, the more willing they are to help other people succeed at the same time. They have been where the budding entrepreneurs currently are and remember what it was like to enter the fray with only the basics. Most successful entrepreneurs are more than willing to share their knowledge and mentor the newbies.

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Article Source: https://EzineArticles.com/expert/Keye_Wu/2314157

How Not to Fail As an Entrepreneur

To be an entrepreneur means to live in insecurity, to walk on a twin edged sword, if you are successful, you struggle to maintain it. If you fail to take off then you struggle to make your vision and dream successful. Entrepreneurship offers limitless possibilities to grow but it is also very demanding in terms of dedication and hard work. To sum it up, in entrepreneurship either your efforts are in the right direction or they are in completely wrong direction.

The question is, "why do entrepreneurs fail?" the business they started was something they envisioned themselves, it was their baby, their dream. Sadly, there is no set formula for success in business. There are certain things though that if taken into consideration reduces the chances of failure in business. The readers might ask if this is a scare tactics, but no, my friend, I have written this so you, as an entrepreneur can avoid the mistakes that can prove costly.

People start business with one sole purpose - to earn money. If we look around us, we notice hundreds of products, do we need one more? The answer to this question lies in the value addition. If the products add value to the existing value chain, they are welcome and they will make a market for themselves, but what if the product fails to add value? Then it might have to struggle a lot to gain foothold in the market. As an entrepreneur, your focus must be on creating value and not profits.

Successful companies are successful innovators; the zeal to create something extraordinary that brings smiles to the customer will be rewarded even in a highly competitive business environment. The business will find it very difficult to survive if it does not solve the problems of the fellow humans. We don't have dearth of such people who pursued their zeal with passion. Steve Jobs, Bill Gates are innovators whose products changed the dynamics of the market. Their passion to innovate made a fortune for them. If you are starting a business, ask yourself "what am I doing that will make the world a better place?" If you don't get answer, it is time to retrace your steps and think again.

An entrepreneur is always keen to listen, to learn. He encourages the people around him to think out of box. He understands the reasons and necessities of failures, he is not intrigued by success nor does he feel dejected on facing the failure. Today's new age entrepreneur must be disciplined, must seek new knowledge and hone his skills to remain competitive yet innovative to achieve what he deserves, success. These traits will salvage him from the risks associated with business world.

Soham Maniar is an expert consultant specializing in small business marketing strategies. He writes books, provides advice on online as well as offline marketing strategies. From Broke To Bank

Article Source: https://EzineArticles.com/expert/Soham_Maniar/2362818