Entrepreneur Movies: Self made entrepreneur claims he’s found a loophole.
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Entrepreneur Movies. Rise: An entrepreneur’s venture to the top, is a movie about real enterprising up-starts in the field of entrepreneurship.
Most of you already have heard about Robert Kiyosaki. This is the time you should hear about common people like you and me who are depending on entrepreneurship skills to create growth opportunities for our country.
Discover how this entrepreneur rose from just an employee involved in the usual rat race system to someone who has enough financial assets to retire at an earlier age. Making his money work for him, there is definitely more time to enjoy and spend with the family and for oneself.
If you want the same thing to be true for your life then you might want to take a peek at this DVD and find out more about the path of entrepreneurship.
Sometimes, all it takes to be prosperous and triumphant is to know that someone is also successfully prosperous and triumphant and that you can do the same.
The Entrepreneurial Edge. Some would say that big business has it made; I on the other hand believe that there will always be a special place for the little business guy.
Entrepreneurs have an edge over their bigger competitors. So while the Amazon’s of the world are struggling to break even from their multi billion-dollar Entrepreneur Movies overheads, the smaller Dot coms are already realizing profits.
What advantages do the “little” guys have in the marketplace? Below is how to “think like a startup” and realize greater success.
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HOW TO KEEP THE ENTREPRENEURIAL EDGE
1) STAY IN TOUCH WITH YOUR CUSTOMERS
Ever heard of the 80/20 rule? The old adage says that 80% of your business will come from 20% of your customers. In business, the customer is king.
It’s far easier to sell to an existing customer than to find a new one. So, once you get a customer, you need to service the heck out of them.
So how do you make your customers feel like they are number one? By letting them know that they are top priority. This means answering your own phone, replying quickly to email requests.
It means staying in regular communication with your customers. Entrepreneur Movies. Keep up a good rapport. Send an occasional email asking them what’s new. Mail birthday cards or a customer anniversary card.
Gestures like these can build close, long lasting customer relations and goes a long way to building customer loyalty. Entrepreneur Movies
In addition to building stronger customer relationships, keeping in touch with your customer base can enable dot coms to offer one to one marketing.
By identifying your customers needs and buying habits, you can personalize product packages and service offerings to meet your customer’s individual needs.
2) LISTEN TO THE BEAT OF THE STREET
If small business owners want to keep their head above water, they need to closely monitor their environments. Entrepreneur Movies. By “listening” to the pulse, you can think proactively rather than reactively. This means spotting things when they are coming so you can act quickly and take advantage.
Web stats – Do you look at your web stats regularly? Or are you guilty of being too “busy” to make time? Unless you regularly look at your web traffic reports, they probably will read like a foreign language to you.
By looking at your web reports regularly, you’ll be able to spot trends. Entrepreneur Movies. What pages are your visitors going to? What is the hits-to-sales ratio? What can you do to improve that number?
Feedback – Another way to “listen to the beat” is to get feedback from your customers. Try to be on a first name basis with your customers. Ask them how they are doing and if there is anything you could assist them with. Entrepreneur Movies. The answers you’ll receive will be worth their weight in gold.
Industry news – Keep up with the industry by reading everything you can get your hands on. When you work in “living room central” it’s easy to let yourself be isolated from the world.
You can’t rely on your favorite soap operas to keep you informed about the current trends in business. Entrepreneur Movies. So put down your munchies and flavored coffee and make a concerted effort to stay “in the know” by subscribing to print magazines and online newsletters
3) FLEXIBILITY
When I think about flexibility, the childhood rhyme “Jack be nimble, Jack be quick, Jack jump over the candlestick” comes to mind. In order to keep from being burned, small businesses need to be nimble and quick.
This means having the flexibility to act quickly in response to changes in the marketplace. Entrepreneur Movies. Like a surfer riding a wave, you have to be in just the right place at the right time to ride the crest of the wave and get the best ride.
Likewise, if small businesses monitor closely what’s going on in the marketplace, they can act quickly to take advantage of current events and trends in the marketplace.
They say what gets measured, gets managed. Keep a close eye on your monthly financials. Listen to your customers. Measure the effectiveness of your advertising. Then when you see a difference ask yourself, “was that good or bad” and ACT!
4) TAP INTO THE FIRE AND LET IT FUEL YOU
Simply said, small business owners want it more. Entrepreneur Movies. Because of this, they will try harder and go the extra mile. That’s why big companies like Wal-Mart and Saturn have made their employees part owners in the company.
They have seen that people will work harder for themselves than for anyone else.
The best secret to success as an entrepreneur is to find something you are passionate about and create a business around that. Entrepreneur Movies. When you do something you love you’ll never “work” a day in your life.
Entrepreneurs have that fire in their belly. Find a way to tap into that internal fire and let it fuel you to success.
Entrepreneur Movies. First steps: choosing the business
When I was thinking about starting an internet business there were a few things that were must have requirements.
The first one was that I needed to be able to get the business to profitability for less than $1600 (100).
In practice each site has cost more than that when you figure in the marketing costs needed to get it off the ground quickly.
The silk tie retailing site was set up for less than $300 but when you factor in marketing spend, then I have spent almost $800 per month on marketing, mostly Google Adwords and Facebook.
It is only after month three that I have got close to breaking even. Entrepreneur Movies. Anyway, near enough and if you are more patient and make less costly mistakes than me then you should be able to do it for less.
Secondly. The business had to need as little manual work as possible. I am after a business that I can start working part time and as am a management consultant and sell my time by the hour, for me time really is money. Entrepreneur Movies. I am also not keen on hiring people if I can avoid it.
The internet has the potential to offer some really virtual businesses and I wanted to use this. For this reason as well as start-up costs this means that I do not want to stock or handle any products.
I do a lot of supply chain consulting work so it was obvious to me that I could have a business that used other companies to buy, store and deliver the products.
The easiest way to do this is by using drop-shipping. Entrepreneur Movies. Drop-shippers are wholesalers that ship individual customer orders direct to your customers.
There is a lot of information on drop-shipping online, however it has to be said that there are some terrible drop-shipping companies where prices are too high or products too common to successful.
Typical of these is th-Select which charges a fee to join, but once you join you find that the prices are often higher than they are being sold for on eBay and are widely sold with lots of competition.
It is very hard to make good money from these sort of drop-shippers. Entrepreneur Movies. There are however some good companies out there with niche products where achievable margins are good.
The third requirement was that the business needed to have the potential to generate at least $1k per month in profit. That way with a few web businesses it could become my full time job.
I decided that I was not trying to start the next Amazon, instead I was after a good profitable niche. Entrepreneur Movies. Something not too competitive and with no house-hold names as competitors.
This means that I have not gone into electronics even though it is the area I know the best, it is a very competitive market online and were competition includes Amazon and Dixons.
To be successful in electronics you either need to find a niche not served by the big boys or spend serious money to get established.
I then started searching for business ideas. I read the get rich quick newsletters, internet marketing newsletters, internet business forums and drop shipping websites.
I searched for dropship suppliers then when I found a product that I thought might be promising, did a search for it and checked out the competition.
If after that it still looked interesting then I did a keyword search on Google AdWords to find out how many clicks I could get and at what cost.
While doing this I came across some sites selling ready-made business websites. Entrepreneur Movies. Essentially they provide a shop template, a catalogue and a supplier of stock and off you go. These sell for between 50 ($80) and 500 ($800).
I wasted a fair bit of money with a couple of false starts.
I bid on a lingerie web business template on eBay with a starting price of 99; my wife was a lingerie merchandiser for Marks & Spencer’s and so I though she could help. Entrepreneur Movies.
Then I saw a gadgets website from the same people and thought I would get that and see if I could find a gadgets niche and bid for that too.
Trouble was I then did some more research and found that lingerie was very competitive online and that the supplier I would be getting had a limited selection of very tarty undies at rather high prices.
I also found that the gadget supplier was the Select and as I have already said they are overpriced.
I then found the tie web business and decided this was a better niche where margins really are 60% and bought that one from DpbUK who have been very good.
Unfortunately no one else bid on the two on eBay and I ended up winning them although I no longer wanted them. $300 wasted. Oops.
So do your homework carefully before buying; look carefully at the sample sites and try and find some clues to the suppliers, check the competition out and make sure the margins are high enough.
Entrepreneur Movies. Blogging is your road to search engine optimization.
Search engine optimization is the newest trend among online marketers. Entrepreneur Movies. Today, companies have recognized that one of the most effective ways of getting free advertising on the Internet is to show up first under relevant search terms in the various engines.
Trying your best to get into the system can sometimes make your site bounce back search engines in the process. But then there are some ways of making sure that both the architecture and the content of pages is as friendly as possible to the search engine spider.
That is why web site owners are continuously conjuring up techniques for search engines to read them as one of the best. Entrepreneur Movies. The newest addition to doing this is though blogging.
Search engines are in love with blogs.
Blogs come complete with permalinks, regular updates and with the newest and accurate content. All these in one package is enough to make spiders not want for more.
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