Define What Is An Entrepreneur – The Ultimate Guide
Define What Is An Entrepreneur. Resources to Help You Win.
Define What Is An Entrepreneur. How to Be a Creative Entrepreneur. There’s a great line in Alice in Wonderland when the Queen says, Sometimes I think of 6 impossible things before breakfast. I think you’ll agree that this has to be creativity at its best!
As a small business owner this is an ideal you really need to strive for but how on earth can you open up your mind to get to the point where ideas just spill out?
Small business owners are expected to be creative and inventive, otherwise how could they run their own firm? If you have a sneaky feeling that creativity is not one of your strong points what can you do to stimulate your brain and get it kicked-started?
Be Unlimited
Too many people are limited thinkers. They have their world placed squarely in a box and nothing can exist outside of that. If the newspaper reports something then it must be right. If Joe next door says that something is impossible then he must be right. As a small business owner, you cannot afford to be a limited thinker.
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You have to be an unlimited thinker. Get into the habit of seeing no boundaries; decide that there are no taboos. Have the belief that with a bit of focus you can find a creative solution to all of your problems. This is the foundation for a creative thought process.
Be Future-Focused
Creative ideas invariably come when you look into the future. The feeling of propelling yourself forward and seeing the problem solved is a great motivator.
Do you think you could achieve the same result if you were backward focused? I don’t think so! Train yourself to be future-focused, always looking ahead, not a traditional thinker who tries to find answers in today’s world.
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Once you open your mind to the joys of creativity the ideas will quickly start flowing, as if someone has opened the flood gates! Just like flood water, unless you catch it the ideas are lost for ever.
Capture all your ideas by carrying a small pocket notebook with you. As soon as an idea pops into your mind, write it down. It doesnt matter how outlandish it is, you can look at it in the cold light of day later on.
The fact you are responding to the ideas by noting them will further encourage you to be even more creative good deeds encourage more good deeds!
Be Clutter-Free
If you are naturally an untidy person, then get out of the habit! A cluttered office will lead to a cluttered mind. You cannot expect your brain to work efficiently when all its doing is constantly reminding you how untidy your office is.
To be creative remove all the clutter from your life and free your mind.
Be Action-Oriented
All of these points are great, but if you don’t take any action with your ideas, then you may as well not have bothered. An idea is nothing but a thought unless you take a specific action to help bring it to life.
Periodically review your notebook and see if there are any hidden gems, or ideas which can be quickly actioned. A lot of your ideas may not suit at all but in there somewhere is probably an idea, which if acted upon, could change you or your business. Commit fully to move forward on as many of your ideas as you can.
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Don’t be afraid to break down the boundary walls. As John Stuart Mill said, That which seems the height of absurdity in one generation often becomes the height of wisdom in the next.
Let me close with one question – can you be creative enough to be dismissed as a dreamer? No? Then get practicing!
Define What Is An Entrepreneur. Higher Returns With Entrepreneurial Investing.
Long-term investing in the stock market can offer a passive return around 5-8% if you remain invested for 30 years; but, unfortunately, that return is before taxes and inflation.
This is so low because the company founders, backers, early investors, investment bankers, etc., have removed all foreseeable profit from the company before it is ever offered to the public market.
There is a spectrum of investments available to you that is dependent on how much effort you are willing to put into educating yourself, networking, and performing your own investment due diligence.
If you dont want to do any work, you are going to receive the tiny return of a CD or mutual fund in exchange for supporting many people (in expensive suits) in between you and the actual business that is making money.
For people willing to educate themselves and put forth added effort, they will be sitting across the table from business owners and managers; investing directly into a business that pays monthly or quarterly cash returns from 10 to over 20%.
For example, lets suppose that there is a great single-family rehabber in your area. This rehabber buys homes in bad condition, fixes them up, and then quickly sells them for a profit.
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If he or she were very good, they’d begin taking on several simultaneous or larger projects until they run out of money to buy any more homes.
Once they run out of money, they start using their credit until that is used up as well. Once a successful entrepreneur is out of cash and credit, the only way to grow is to partner with investors. And to entice these investors, they offer higher than average returns.
[I want to make a very important distinction between what I define as a start-up and an on-going business. A start-up is a few people that only have a business idea who want to spend your money instead of theirs never invest in them!
Leave these to the professional evaluation of a venture capital firm. An on-going business is already being run by someone professional who has current customers, suppliers, location, products, or services these are the types of businesses you want to invest in].
You may be simultaneously networking with local business owners, educating yourself about their industries and the local economy, and checking the reputation of those with whom you are interested in becoming a partner.
Introduce yourself as someone that has been watching their success, and indicate that might want to invest in one of their future projects.
It could be a business owner who has four retail stores and that you’d like to invest with them to open their fifth store; or the owner of a local manufacturer needs some capital to startup selling products overseas; or invest in a developer that splits large plots of land into residential lots; or an investor that packages privately held mortgages.
There are many local investing opportunities that offer the investor greater control than buying public stock, along with higher investment returns.
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Direct ownership requires a few skills that buying a CD or mutual fund doesn’t require, but you will be well compensated for developing these skills. The first skill to learn is some basic accounting because financial numbers is the language of every business.
You need the basics to start reading financial statements in order to evaluate potential deals. If your desire is to invest in car dealerships, you need to know the difference between a well-run or a poorly-run dealership from reviewing their financial statements.
The next skill is networking to locate deals get your phone ringing, business card circulating, and e-mail account filling with potential deals. Private equity and debt financing is normally offered to family and friends, then acquaintances; and this will only happen if you are meeting people and talking about what you are looking for.
The third skill is performing due diligence; which means independently verifying as much as possible about the individual, the company, and the transaction so that you can be reasonably confident in getting paid in full.
Few local private offerings will have a prospectus written by teams of lawyers and accountants who have dissected the offer, so you, personally, have to do the work.
No matter if this is a relative or a friend, there are people who will steal your money and disappear or people that mean well but are unable to follow-through and build a successful business.
In either case, your hard earned money is long gone so you should take great pains to get independent third-party verification of all the facts and history that you can.
I personally know a few people that have built their wealth with the high returns from private placement offerings, and wouldnt invest in the stock market due to the lack of control and lower average return. If you have the willingness to put forth the effort, great returns can be yours as well.
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Training will be taken down at any time due to High Demand for this product.
Affiliate Marketing in conjunction with well known companies, such as Clickbank, can be very profitable and rewarding. Your payments are guaranteed every 2 weeks and is entirely up to your Marketing Efforts and Abilities on how much you get paid. I also bought into and highly recommend John Crestani’s Super Affiliate System (SAS) for Affiliates.
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Training will be taken down at any time due to High Demand for this product.
Affiliate Marketing in conjunction with well known companies, such as Clickbank, can be very profitable and rewarding. Your payments are guaranteed every 2 weeks and is entirely up to your Marketing Efforts and Abilities on how much you get paid. I also bought into and highly recommend John Crestani’s Super Affiliate System (SAS) for Affiliates.
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