NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

5.Timing

Whether you are currently employed or unemployed and still looking for a job, if you’re waiting for the right time to start your own business, you should definitely pay head to Napoleon Hill, author of one of the early inspirational guides to success, “Think and Grow Rich,” which still resonates with entrepreneurs and remains a big seller 72 years after publication.

“Don’t wait.  The time will never be just right.” Napoleon Hill

In the next post, there’ll be a more detailed discussion of the necessity to conduct research and due diligence.   It’s a very savvy business practice to never stop learning.  However, too much of a good thing can have negative repercussions.  Too many individuals insist on reading just one more book or article, taking one more seminar, listening to one more audio tape, watching one more video tape, etc., etc., etc.  They get stuck in the Ready stage (READY, AIM, FIRE).

As Rich Schefren, a top internet guru frequently advises – You need to connect the Knowing with the Doing. Know when to Take Action.

Obviously there’s no timetable that fits all.  First and foremost, you need to complete your business plan with input and advice from others – legal, financial, business associates, industry gurus, friends, family and mentors.  Ideally, this will take weeks, not months.  Once you have feedback that you’re comfortable with, quickly move from the READY stage to the AIM stage.

The AIM, or Execution stage, is the most time-consuming.  You’ll be wearing your Project Manager hat at this stage.  Nothing is more important at this stage than to track, measure and analyze each marketing campaign you launch.  Incorporate what you’ve learned into the next campaign….then repeat.  (see graphic below)

Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next post: Don’t Hesitate to Make Decisions.

NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

4.Flexibility

If you’re a creature of habit and avoid change at all costs, then starting your own business from scratch is not for you.   Even if you go the franchise route, you’ll need the flexibility to follow the mandatory rules, regulations and guidelines required to be accepted as a franchisee.

 The importance of being a flexible individual cannot be overstated.  Along with facing the critical challenges of making daily decisions and solving problems, you’ll need the ability to willingly become a multi-tasker – to wear many hats every day.

 If your goal is to start your own home-based business, chances are high that you’ll be working alone for many months.  Do you have what it takes to work in isolation?  Can you perform a myriad of administrative tasks that you once delegated to support staff  –  tasks  like answering phones, faxing, doing internet research, ordering office supplies, paying bills, scheduling travel, keeping “the books”, emptying the wastebasket…and much more.  

 If you’re “above” these tasks, then you’ll have a very disorganized work space, ultimately leading to decreased productivity and profitability.  However, if you view everything related to your business as an important means to an end, then your chances of success increase dramatically.

Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next post: Timing is critical to business success.

NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8  Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

3.Patience

If you’ve spent any time on the internet doing research on starting your own online business, you’ve undoubtedly come across thousands of pages of sales copy “screaming” at you about how to become an internet millionaire virtually overnight.  Known in the industry as “pitch pages,” these visually striking web pages consist of oversized type, screen captures of online revenue statements, free offers and sales-pitch videos with tempting, persuasive promises.

 Let’s be clear.  There are no “Get Rich Quickly” schemes that work!  And, be sure to run away as fast as you can from promises you can become wealthy, travel to exotic places, buy antique cars, spend more time with your family and friends by working only four hours a day!

 Very few, if any, win on their first try.  Building a successful business – whether online or offline, home-based, retail storefront or business office — takes VERY hard work, staying power and very often personal sacrifices – starting your own business is much more than a full-time job!

 For example, some of today’s best known and highly successful online entrepreneurs worked through many months and years of letdowns and disappointments before they became “instant” millionaires.  These entrepreneurs include household names in the online marketing world like Rich Schefren, Mike Fulsaime, Frank Kern, Ewen Chia to name just a few.  And, these internet legends still experience failures and make bad decisions.  They quickly learn from these setbacks, make the necessary adjustments and move forward!

Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next Post: Monday, March 1, 2010

Topic: Business Owners Need Flexibility

NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8  Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

2. Perseverance

Closely allied with Passion is your motivation and determination to succeed, or put another way, your refusal to give up.  Many people have intelligence, talent and business knowledge, and these are clearly important, but you must have the tireless persistence to always keep moving forward to achieve your “dream”, or saying the same thing in business parlance, to achieve your goals and objectives.

Successful people never miss the opportunity to learn from a failure as well as a success.  And, they don’t dwell on their failures.  They learn, regroup and quickly move on – they persevere.

 Calvin Coolidge’s famous quote on persistence deserves a prominent place in your office:

  And, did you know that America’s most famous and persistent inventor, Thomas Edison, failed 10,000 times before he made the electric light?

  Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next Post:   Be Patient.  Success Takes Time.

NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8  Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

1. Passion

Passion is listed first for a very important reason; call it passion, call it love….it’s the greatest motivator in life.

 How do you know if you have enough passion to turn your idea into a successful business venture? When you read the following words, do they accurately describe you?

Enthusiasm ~~ Energy ~~ Eagerness

Every successful entrepreneur has the three E’s in abundance from day one…and this passion to achieve success never ever wanes!   Whether you’re offering a product or service to customers online, or go the bricks and mortar route, whether you start from scratch, buy an existing business or become a franchisee – an unrelenting passion for your business idea to succeed is the single most critical factor to self-employment success.

 Without the passion, you won’t have the resilience and resolve it takes to:

• become your own boss
• be ready for 60-80 hour work weeks
• face ongoing uncertainty
• be quickly responsive to daily problem-solving and decision-making

… and, even with all these stress-producing factors, you consider everyday more fun than work!

Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next Post: Monday, February 15, 2010

Topic:  Successful Entrepreneurs Persevere

NEWBIZBLOG: Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

The mantra of this blog is: there’s no security in working for others.

As an introduction to the NewBizBlog, we’re starting a multi-part article titled: Do you have what it takes to start your own business? Return to this blog for the next 8 postings to read the entire article. Please return to this blog every Monday for a new posting.

Introduction
Let’s begin with the hard facts: According to Dun & Bradstreet and INC. magazine, 33% of all new businesses fail within the first six months. Fifty (50) percent of businesses fail within their first two years of operation and 75% fail within the first three years.

Here’s another reality check from careerbuilder.com about starting your own business: Nearly a million new businesses are started each year. Within five years, more than 85% of those businesses will be closed. It’s likely that a majority of those failures should never have gone into business in the first place. Why? Because the “entrepreneurs” who launched businesses didn’t have the personal characteristics and qualities necessary to beat the overwhelming odds against becoming a successful entrepreneur.

For the next 8  postings, we’ll discuss each of the personal characteristics you need to possess to become a successful entrepreneur.

The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next post: February 8th –Do you have the Passion to become a successful entrepreneur?