The Steps to Becoming a Successful Entrepreneur: 2007

Entrepreneurship in Real Estate Businesses

What is Entrepreneurship?

Entrepreneurs are the people who start or organize commercial institutes, particularly those involving any kind of financial risk. You ask anybody today and he will get ready to become an entrepreneur. If we observe the economic activities going on all over the world, it seems that everybody has already become an entrepreneur. Entrepreneurship is not the privilege of the Chief Executive Officers of mega corporations only. A person playing three-card games at Times Square is also an entrepreneur. Entrepreneurship is a quality that is applicable in politicians, cab drivers, college presidents, and bookies.

Like in any other field for successful entrepreneurship, in the real estate business you need to understand the importance of location, location, and location. You cannot take it for granted when you buy any property for your business or sign any lease. Entrepreneurship in real estate business requires careful selection of the broker no matter whether you are buying the property or selling it. You also have to learn how to understand the present scenario of the real estate market and the current valuations of the properties. In addition, you should also need to master the art of strategic planning for both selling and buying the properties.

Keep Yourself Informed

No entrepreneur in the field of real estate ever knows too much about the market. They have to make constant efforts to gather information regarding the latest trends in the industry. They have to keep on thinking about the factors that can affect their investments, their clients, and their overall businesses. Some of the important factors are changes in the tax laws, development of new highway routes, changes in technology, and zoning.

Natural Instinct Required

To get success in the real estate business, you must possess a natural entrepreneurial instinct. Moreover, you also need to be process-oriented. You should have the capability of looking far into the future and identifying the good business opportunities. If you are successful in entrepreneurship in the real estate business, you can get success in any kind of venture. In addition to having a basic knowledge of this business, economy and other global factors, you must be comfortable using computers. Knowing the use of spreadsheets, word processors, databases, graphical analysis, and the geographic system of information is very useful for entrepreneurship in real estate business.

NO Quick Bucks

Finally, if you plan to start entrepreneurship in the real estate business, understand clearly that you are not going to get any quick buck, as it looks from outside. Like any other business, the real estate business also takes time before you cultivate the customers and start enjoying the inflow of money. However, the time, efforts and the attention given to the business never go in vain and sooner or later, you are going to get the positive results.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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Competition Keeps Successful Entrepreneurs Sharp

Every sports fan knows the story of a sports team competitively peaking at the right time on the road to winning a championship. The Pittsburgh Steelers won the 2006 Super Bowl even though they only had the second best record in their division. In addition, they had to overcome the huge hurdle of playing three straight playoff games on the road in front of hostile crowds. Entering the tournament, the Steelers were not favorites to win a championship. But they did.

The level of competition they faced brought out the best in the Steelers. In any field competition is needed to enhance the vitality of the participants. A capitalist economy thrives on the ability of individuals, enterprises and organizations to compete, some winning, some failing, all contributing to the fresh flow of innovation that is the lifeblood of a vibrant society.

Entrepreneurs are the key purveyors of new ideas and creativity, especially in the United States. The fact that competition is so brutal, aggressive and pervasive for new opportunities is of great benefit in keeping entrepreneurs sharp, motivated and cutting edge. Inventors must anticipate that competitors will make every attempt to circumvent the novel features included in their product. This anticipation motivates them to create value-added features that further answer the competition and provide consumers with fresh utility and novelty.

Why is private enterprise vastly more efficient than public organizations. The most elemental answer: competition! There is one inefficient Post Office. There are many competitors in the package delivery service (FedEX, DHL, UPS, etc.) The Post Office is subsidized: the private firms must fight it out for market share, efficiencies and profit. They can go out of business, the Post Office never will.

Every state run airline (Alitalia, Air France, Varig, etc.) is bankrupt. At the same time new private carriers (Easy Jet, Ryan Air, etc.) are entering the market and thriving. Competition creates opportunities and penalizes static business models.

Computer Associates, Wang, Digital Equipment, Gateway and many other companies, were ahead of Dell Computer in assembling and marketing the personal computer. Dell has succeeded spectacularly while almost all of the early leading pioneers are either out of business, significantly downsized, or merged. Dell entered this brutally competitive product category with a fresh business model (customization of production and direct selling). This disruptive model has proven wildly profitable and popular with consumers. Dell continues to evolve and enter new technologies in a never-ending effort to constantly reinvent and remain competitive.

35 years ago Revlon was the dominant cosmetic brand in the world. Ultima was Revlon’s luxury powerhouse, the Revlon brand dominated the middle market and Realistic was a powerhouse in beauty salons. The founder of Revlon, Charles Revson, was an innovator and a visionary. He once famously commented, “I don't sell lipstick, I sell hope”! Sadly after his death 25 years ago, the Company was run by a series of financial bean counters. Innovation was minimized. Risk was out. Revlon has not had a major product success since the fragrance Charlie, over 25 years ago. Today, Revlon is but a shell of it’s former glorious self. Ultima does not even exist. Innovative competitors like Estee Lauder, L’Oreal, Redken and Paul Mitchell, Mac, Bobbie Brown and many more have chipped and picked until Revlon is almost a corpse. Competition forces business to innovate, and evolve, or die: witness Revlon.

Many entrepreneurs fear competition for understandable reasons. Many have weak intellectual property protection. They fear a larger, mature business attacking them head on with a version of their product. The constant worry of being overwhelmed by a rival with deeper resource levels is daunting. Nevertheless, the lesson to be learned from competition is simple: it is always going to be there and it must be faced with courage and creativity.

Sticking one’s head in the sand is not a realistic response to competitive threats. They are real and pervasive. The “survival of the fittest” does not apply only to the natural world but is just as applicable to the business world. In order to be one of the fittest, the entrepreneur must remain innovative and think outside the box. As Satchel Paige said, “don’t look back, somebody might be gaining on you”. I like, “you are never the greatest, only the latest”.

The successful entrepreneur is always seeking ways to improve their business model, add features, advance performance and anticipate strategy competitors might utilize to overcome their market advantages. The ability to survive and prosper requires entrepreneurs to be flexible, quick and opportunistic, all qualities that bigger rivals usually lack. Take advantage of your entrepreneurial instincts. Large entities typically make decisions by committee and consensus. Speed and agility are your natural advantages.

Competition keeps the economic blood running free and pure. When an entrepreneur succeeds it is easy to identify the elements most responsible for that success. Equally important is for every failure to become an educational opportunity. It is all right to make mistakes: once! Learn from mistakes and do not repeat them.

Competition insures that our modern world is continually advancing, improving and editing out the weak, thus rewarding and encouraging the strong. The benefits competition provides a free economy is reflective in the vitality and prosperity of the population. Compare this with state controlled countries where central planning eliminates any of the creativity and disruptive innovation provided by entrepreneurs. No competition creates a disincentive to growth, opportunity and the healthy economic life so essential to human contentment.

Geoff Ficke has been a serial entrepreneur for almost 50 years. As a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the value of selling himself, offering service and value for money.

After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the United States Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, he then launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.

Mr. Ficke and his consulting firm, Duquesa Marketing, Inc. (http://www.duquesamarketing.com) has assisted businesses large and small, domestic and international, entrepreneurs, inventors and students in new product development, capital formation, licensing, marketing, sales and business plans and successful implementation of his customized strategies. He is a Senior Fellow at the Page Center for Entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.

The First Rule Of Owning A Successful Business

At one time or another every business owner has wondered why one business will be successful and prosper for years and another one will struggle just to survive. I am about to tell you the ONE secret that all successful business owners know and have kept secret all these years. This secret is so simple, yet so powerful that in the wrong hands… well, you get the picture.

But, before I tell you the secret that, if implemented, will guarantee that you will be a successful entrepreneur and without it, you will be relegated to the pile of “also rans”, I want to tell you a little story.

Recently, I was in an electronics store. This was not a local store, but a national chain. I have only shopped there a few times, and I do not know if I will ever shop there again. For Christmas, my children wanted me to hook up the internet in their room so they could use the internet at the same time that I was using mine. I have never installed a network and was going to go the wireless route because I have thought about buying a laptop.

I stopped an associate to ask him some questions about exactly what I needed to hook up the network. I had some items in my hand and asked him if that was all I needed. Without slowing down, he said about four words, “yea, that looks right.” After he walked away, still not convinced that I had everything I needed, I put the items back on the shelf and walked out of the store to go purchase them somewhere else.

When we got in our car to leave, the sales associate was standing outside the building smoking. That cigarette was more important than making a $150 sale.

This brings me back to “The First Rule Of Owning A Successful Business.”

Give The Customer What He Wants Or Needs.

Product. The customer is there because you have something that he wants or needs. As in the example above, I was ready to purchase the items necessary to network my computers and yet, I did not because I did not get what I needed, which was someone that would take the time to explain what I needed to do.

Great Value For A Great Price. As I have stated in an earlier article, price is not always the determining factor when a customer makes a purchase. However, he wants to believe he received a good value for the price that he paid.

Qualified Sales Staff. Again, as in the example above, I needed help and did not receive it. A customer wants to know that he is dealing with an honest, experienced, and fair sales person that is there to help him.

Items In Stock. Customers like to know that when they go to a store to purchase an item that should be there, the item will be there. There is nothing more frustrating than to go to a store looking for something and it is out of stock. Although items will run out of stock sometimes, if customers believe that this happens a lot, they will go elsewhere the next time.

If you follow these four items when dealing with a customer, even though problems will arise, you will be one of the successful entrepreneurs that people look at in the future and say, “Wow, he’s been here for a long time.” Because, you were willing to “Give The Customer What He Wants Or Needs.

Paul Taylor is a business owner that helps other business owners and entrepreneurs locate wholesale distributors and dropshippers. Visit his website at: http://www.WholesaleMap.com for all your business needs.

The Six "F" Words Every Entrepreneur Should Know

Start your own business, and soon enough, you find yourself in a situation where there are many things you want to say, all of them unprintable.

It happens to every entrepreneur – a moment of extreme challenge that causes you to wonder why you started the (expletive) business in the first place. I’ve had my share of those moments since starting our public relations firm in March 2002.

But while trading notes with a fellow entrepreneur recently, I started to think about all the moments of extreme challenge I left behind when I decided I no longer wanted to be somebody else’s employee.

That got me thinking about what really matters to me as an entrepreneur. As I shared my thoughts with my friend, a new list developed – the “F” words I believe every entrepreneur should know. They’ve done the job for me so far, keeping me rooted, married and talking to my kids while we build a successful business. I hope they have the same effect for you.

1. Faith: I’m not a street corner preacher, but I have a deep and abiding faith that starting my business is what I was meant to do in life. I also have a strong faith that I’ve been given the tools to do the job – even in a moment of extreme challenge. Without faith in yourself, in your business and in your purpose, how can you succeed as an entrepreneur?

2. Family: My wife and daughters are the most important people in my life. Starting my business has enabled me to put them at the center of my life, where they belong. Oh yes, I work long and hard, but today, it’s with a clear purpose. The generations of entrepreneurs who built this country understood this principle. Their businesses often bore the family name, and generations of people who were born, lived and died together managed to build great businesses together.

3. Friends: Fortune 500 companies have boards of directors. Entrepreneurs have friends. When no one else will listen, friends will. When others fail to see the beauty of the product or solution, friends will. And when no one else will talk straight to you about a dumb business move, friends will. And they won’t send you a bill.

4. Focus: It’s nice to say you’re an entrepreneur, that you are your own boss. But do you have the commitment to turn that idea into true success? The ultimate measure is your ability not only to set a goal, but stick with it, despite those moments of extreme challenge. You may have to change course along the way, but like a good sailor, you focus, keeping your business pointed to the right shore.

5. Finances: Let’s face it – most of us strike out as entrepreneurs because we believe we can improve our financial situation. I know I have not missed the constraining limits and miniscule salary increases of corporate America. How much do I want to make this year? There is only one answer: How hard am I willing to work? And there is only one reason to ask that question: to make good on my commitment to all the “F” words that rank ahead of money on my list.

6. Freedom: This may be the greatest gift of entrepreneurship. But it is the one that comes only after you can act on all the other “F” words in your entrepreneurial vocabulary. So many entrepreneurs strike out to find success, which they define as freedom from all the things they hated about working for someone else. Unfortunately for these folks, they lack a true entrepreneurial vision – they’re merely running away from something. True entrepreneurial freedom comes from a vision that encompasses what’s really important to you.

Are these the only “F” words an entrepreneur needs to know? Obviously not. But in moments of extreme challenge, remembering these “F” words may help you weather a moment of extreme challenge without resorting to the unprintable variety. And if you’re like me, they may also help you remember why you started the business in the first place.

Paul Furiga is president of WordWrite Communications LLC, a Pittsburgh-based virtual agency. He is the former editor of the Pittsburgh Business Times, and has also covered Congress, the White House, edited magazines and written for publications ranging from Congressional Quarterly to Frequent Flyer magazine.

Article Source: http://EzineArticles.com/?expert=Paul_Furiga

Are You Going To Be A Successful Entrepreneur?

How do you know whether you can be a successful entrepreneur, or if you are better off as a salaried employee? Everyone has bad days at work, when they start to fantasize about how great it would be to be their own boss. But before you make any drastic moves, it is wise to do a bit of self reflection to determine if this is really something you’ll be naturally suited for. Although there isn’t a tried and true formula for success, studies have shown that successful entrepreneurs share many common characteristics. Do you possess any of these personality traits? Many of them? If so, you may be a natural entrepreneur, a person who is inherently better suited for owning your own business than working for someone else.

Owning and running a business is a creative, challenging and highly rewarding way to become your own boss and chart your own future. It’s about creating and finding a better way to do things, offering customers a new choice that is of value to them. In addition to making your own living, it is also about providing opportunities to help others advance as well, whether it is through job creation or simply by hiring other contractor firms. Ultimately you want to create a business that you run, instead of it running you, and hopefully it will make you a nice little fortune in the process. It takes courage, determination and foresight to decide to become an entrepreneur. Leaving the relatively safe corporate world, where paychecks arrive regularly, and benefits are guaranteed, you will be venturing into the uncharted territories of business and it can be a daunting adventure, but if you’ve got what it takes, it can be the best challenge you ever face. I have met many people who have made this decision without really thinking through all of the long term implications or really what their long term goals are for the venture, and the ideal role that they would play in the company. I can tell you from experience that you will be able to achieve far greater results in your business more quickly if you take the time early on to determine what characteristics you possess that will be your entrepreneurial strengths and where any weaknesses may lie so you can be aware of them and hire and outsource to bolster them.

While there is no recipe for success, most successful entrepreneurs share many common characteristics. To determine whether you can be a successful entrepreneur, or if you are better off to work for somebody else, see if any of these sound like you:

1. Big dreams. To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams. You don’t hear Oprah saying that she wanted to just pay the rent and get by. She had big dreams. If you’re going to be a successful entrepreneur you need to have big dreams for yourself. Just making enough to pay the bills or getting a few customers is not enough of an aspiration to fuel you forward. Make no mistake; this journey will not be an easy haul, so you really need one heck of a carrot out there to motivate yourself to keep pushing. Similarly, success is not achieved in a vacuum; your dream needs to not only inspire you it needs to inspire others as well. Your dream should be something that others will believe in, see as worthwhile and want to support. Your dream needs to include being wealthy or famous but it definitely should center on being fulfilled. Do not enter this race to be just another runner, but do not feel that you need to be the winner or else your efforts will be in vain. Many small companies have done a great job at providing a unique value to a select niche market that has lead to great results for them. These companies have made an impact on targeted people and on businesses, communities or organizations. They didn’t just sell something; they made a difference, caused change, made things better, easier, faster, more effective or made something never possible before, possible.

2. Clarity and vision. You need to have a clear vision of what you want to achieve. Along with dreaming big you should actively visualize success in your mind so that you can almost feel it, touch it or see that it is within your reach. You should 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? It is not enough to just think that you can wait and see what happens. You must be able to see what happens before it does happen, that is how you make it happen. Successful entrepreneurs possess an attitude of openness and faith that they can have what they want if they can simply envision it as the first step on the path of action to acquiring it.

3. Passion for what you do. As an entrepreneur you started a business to change your life, to create something better, something more. You saw a need, an opportunity. To attain this change successfully, you need to develop or uncover an intense, personal passion to change the way things are. A passionate person lives life to the fullest, has a lot of energy to give, and their passion inspires others and that passion sells. It is not enough to just have a good product or service, you must have passion. Success comes easily if you have a great love of what you do. Why is that? 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? Never. You may trudge 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 deeply about. Entrepreneurs who succeed do not mind the fact that they are putting in 18 hours a day in their business because they absolutely love what they do and they believe in their mission.

4. Openness to new knowledge. You don’t need a degree in business to succeed at your own business. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potential and achieved their financial and personal goals in business because they were willing to learn. To succeed, you must be willing to ask questions, remain curious and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business and those that are open to change based on knowledge are the ones that have the best chance of being successful. Become a student of business best practices. You will want to learn about other businesses and strategies that have worked and see if you can adopt them to your business. Sticking with what you know because it’s all you know is never the best option. As soon as someone decides he knows it all, it is all over. There is a wealth of knowledge out there; those who find the knowledge that will best serve them and then put it to work are those who reap great rewards.

5. Health and high energy. I mentioned long hours before. It is not uncommon for entrepreneurs to put in two normal work days for every one weekday as well as spend time on the weekends in their business, especially in the first two years. In addition to mental dedication, this takes physical stamina as well. You need to be able to put this kind of extra stress on your body without it taking a toll on your health or on your personal life. Maintaining a healthy diet and exercise regime are highly recommended because they will strengthen your body and your mind to enable you to deal with this better. Many successful entrepreneurs say that they don’t need very much sleep. They are fine with four or five hours a night and wake up full of energy. As a small business you are not going to have a huge marketing budget or the best of anything from a resource standpoint, so you need to make up for this lack with your high energy level. People love energetic people and they tend to make natural assumptions about their success level, their intelligence and their competence based on this energy.

6. Persistence and faith. The people who say that the road to success is easy are forgetting the drive it took to get them there. Even with all the hard work and good intentions imaginable many entrepreneurs will fail. Some successful entrepreneurs suffered setbacks and defeats and even bankruptcy, but they managed to stand up again and make it big in their fields. The courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. An entrepreneur must learn how to pick up and start all over again. Persistence is the measure of the belief in yourself and if you persist you can succeed.

7. Discipline. Self-discipline is the key to success. You should be getting into work routines and forcing yourself to stick to those routines. If you are going to be a successful entrepreneur you have to have self-discipline. It cannot be a thing that you strive for and think about. It must be a part of who you are and how you operate. Going the extra mile for your business is not just a bonus it is a necessity for a successful business and successful entrepreneurs know it.

8. Self confidence and optimism. Successful entrepreneurs know that they are going to be successful. They refuse to have let the possibility of failure enter into their minds. They don’t see setbacks and think that they are on the road to closing their business and giving up. As an entrepreneur, you need to fully believe in your goals, and that you can do it even in the face of adversity. You should have a strong conviction in your business, in your capabilities and in yourself. You must believe beyond a shadow of a doubt that you have the ability to succeed and not let that belief be shaken. 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. Blustering forward with full confidence but without thinking through all of the risks is not the mark of a successful entrepreneur. Successful entrepreneurs calculate risks and take setbacks as lessons learned that will not be repeated.

Becoming a successful entrepreneur is hard work. It takes time and effort and a certain drive, but it can be one of the most rewarding and best things you do in life. Achieving your long term business goals will require energy and endurance. Commitment is what will keep you on task and having a flourishing business is the end reward for that work. For more information about how becoming a successful entrepreneur, visit www.flourishingbusiness.com.

Elizabeth W. Gordon, founder and President of The Flourishing Business, LLC, is a visionary leader who has a passion for helping others achieve their entrepreneurial dreams and enjoy more of the best in life. With a vast and diverse background in many business arenas, Elizabeth regularly has the opportunity to share her business acumen with clients, large and small. She currently serves on the Board of Directors of the National Association of Women Business Owners (NAWBO), Atlanta and the Board of Directors of the American Association of University Women (AAUW) Atlanta. She is an Accredited Executive Associate of the Institute for Independent Business (IIB) and a certified Life Coach.

Article Source: http://EzineArticles.com/?expert=Elizabeth_W._Gordon

Characteristics Of The Successful Entrepreneur

A successful organization works on a simple formula – happy employees create satisfied customers; satisfaction among customers induces customer loyalty; customer loyalty ensures long-term financial viability for the organization, which in turn promises its growth. The trick to successful entrepreneurship is to empower the employees with decision-making to give them a sense of belonging, which in turn, translates into loyalty for the organization. Here are some tips on how to inspire employees to take decisions that works a great deal for the benefit of an organization.

Commit To Relentless Pursuit of Goals:

A good leader needs to constantly engage its employees in setting and achieving service goals that are relevant, achievable, and measurable. To begin with, the management needs to do a careful study of the existing standard of services and then develop strategies to create higher levels of services by means of value-addition. Employees who score the highest on the survey forms must be adequately rewarded. This would encourage others to show better performance, which inculcates commitment to provide the best service.

Empowering Employees with Ownership:

Communicate to your employees, the purpose of your organization, make them realize their job is worthwhile, and let them feel they are valuable because they are making a difference. Continuously interact with your employees, make daily rounds, and ask they what can be done to improve what they are doing. Encourage honest feedback on the organizational structure and help the employee who comes to you with a genuine problem. Propagate positive comments on individual or group achievements and give them their due credit. This is an effective tool for creating autonomy in an organization.

Two Steps of Decision-Making:

It is very important for an organization to make sure that its employees do not make decisions emotionally. There are two steps of decision-making, which a company’s management needs to clearly separate for maximizing performance levels. Two separate managers must be appointed to enforce decision-making at the two distinct levels. The first step is assessment of the likelihood of failure and success and the second step is the responsibility of decision-making on the basis on a given set of assessments.

This kind of a separation ensures that the person who is actually making the decisions is emotionally detached from any possible outcome. A clear distinction between the two types of decision-making also takes care that the decision-maker will react rationally to all probabilities of the all the relevant possibilities.

Nurturing the workforce and celebrating the achievements create a real, solid, and measurable bottom-line pay-off. These gestures of the management encourage other staff members to raise their performance bars and keep them focused on their career objectives.

Seek Business Loans and Become a Successful Entrepreneur

Capital is the most vital ingredient in any business and that also when you are planning for a new business venture. You may look for varied options to raise money for your dream business. One of the options which generally come to our mind is business loans. This is the loan type is certainly helpful in making you a successful entrepreneur.

For your varied business needs, like buying land for the building, giving salaries to the employees, buying equipments for the office and many other miscellaneous needs can be fulfilled by this loan.

Business loans are used at various stages of the business. For example, you may opt for a loan when you have just started your business and you need monetary support to streamline your business until it starts making profit. Business-start up loans is being designed to cater such needs.

Those who are looking for a small business venture may go their way through small business loans. Generally, unsecured business loans are ideal loan option for people who can’t afford to start a business at once. As they have limited resources, they may find perplexing offering collateral.

People, who are looking forward to establish their new business venture, may seek new business loans which are being designed according to their needs and requirements.

People with County Court Judgements, arrears, defaults, bankruptcies etc. may also seek business loans provided that they fulfil the criteria of the lenders. Once they make the repayments timely, they may significantly improve their credit history. Bad credit business loans are being especially designed to cater to the needs of people from adverse credit background.

You need to be smart enough while looking for a good loan deal. A proper research work is required while going for a business loan. Merely, applying for the online business loans will help you in getting loan quotes from lenders.

About Author:The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting e-business-loans as a finance specialist. For more information please visit:http://www.e-business-loans.co.uk

Ten Steps to Becoming a Successful Entrepreneur

Free Enterprise: Either you are into it yourself or you are working for someone who is. My name is David Allred and I am a successful entrepreneur. I am involved in a legitimate home based business through which I have been able to enjoy total freedom, both personally and financially. I am a business coach and a personal mentor for those seeking to become successful.

Running a successful business can be very difficult without the right tools. I have made a list of the ten most important steps that have helped me along the way.

1. Your Why is the fuel behind your drive. This is what will drive you to success and must be strong. This is the Reason you want success. Why do you want to be rich? Why do you want success? Get clear on that and visualize the outcome every day.

2. Your Belief system is vital to achieving any level of success. Do you believe in yourself and your abilities? Do you believe in the products that you offer and also your own business? Your beliefs must be tied directly to your “Why” to the point that you have the Will-power to do whatever it takes to obtain your goals.

3. Having a Solid Business Model or a good business plan as the vehicle as well as short term, mid term and long term Goals that are obtainable but that will also stretch you.

4. You must create a Board of Directors for yourself. It refers to this in Napoleon Hills “Think and Grow Rich.” Your board of directors can be people in your immediate circle of friends or individuals that don’t even exist. These are people who know more than you do in different areas of business or personal success. People who you can confide in and ask advice from. This is called Masterminding. Henry Ford, the founder of the great Ford Automobile Company, didn’t know everything there is to know about the industry. But you see, he didn’t have to. He surrounded himself with those who did.

If you want to become successful then you must surround yourself with successful people. Avoid negative people and focus on those who are positive in thinking.

5. Be in the Service of others. You must also realize, when you help others to get what they want….you will get what you want. This doesn’t mean that you will have to bow down and give your entire life away to serving others at no charge. Most businesses are based on a service.

6. Personal Development. Always be learning and improving. Always be a student in the school of life and business. Self improvement and knowledge are what creates energy in your countenance. Have you ever been into the home of someone you considered as very successful? Did they have a library or large collection of books or information? Most likely they did.

7. Persistence is the key to getting the results you are looking for. Have you ever heard of the term, “Burn your boats,” or “Don’t leave yourself a back door?” Basically, don’t have the option of failure in your mind. If you give yourself a way out, then you are sure to take it. If your “Why” is strong then you will persist until you succeed.

8. Do the thing. Set aside a specified amount of time for Money Making Activities every day. This is how the money is made. Establish a DMO, daily method of operation, that includes income producing activities that will not be interrupted.

9. In every business you must have a strong Marketing/advertising campaign. Get your name out there.

10. If you plan to win big and be a successful entrepreneur, you must also Play Big. If you play small, you will win small. I see so many small businesses who try to rent an older building, start out small and then go out of business. If you are looking for all out massive results, play big and play to win.

I have built my legitimate home based business upon these principles and know they will be helpful for anyone seeking to obtain their ultimate lifestyle of prosperity and abundance. If you are looking for a vehicle, I can teach you a business that can and will transform you life.

My name is David Allred and I have built my successful home based business to obtain an ultimate lifestyle of prosperity and abundance. If you are looking for a vehicle, I can teach you a business that can and will transform you life.

Seven Key Qualities of Successful Entrepreneurs

A recent poll conducted by Forbes magazine shows that majority of its readers would prefer to become a billionaire rather than a Nobel peace prize winner, a great scientist or a famous athlete. There is no secret that most of the average people dream about getting rich albeit very few makes any real effort to become one.

According to statistics, more than 100 thousand people become millionaires each year in the United States alone! Overwhelming majority out of them is self-made and owners of business. This means, if you would like to pursue your goal of becoming rich, you have to start your own venture.

Becoming an entrepreneur is not an easy task! There are certain qualities that are absolutely necessary if you would like to become successful in your business ventures. Some of these qualities are built-in parts of your inherent personality, and some of them get developed over time. Knowing these characteristics and identifying your weak ones - those, which need strengthening - will, eventually, help you become a successful entrepreneur.

1. Common Sense

Studies show that most successful businessmen consider common sense as the foundation of their success. Common sense is defined as an ability to make sound judgments on the issues, which you encounter in everyday situations.

Good judgment depends on acquired knowledge and past experience. The combination of these two creates necessary prerequisites in developing common sense in a person. Common sense allows you to understand complex issues in simpler terms and get into the core of a problem.

2. Specialized Knowledge of your field

It is easier to start a successful business, if you have deep knowledge of the business field that you decide to pursue. About half of all home-based start-ups are launched by people who decide to use the knowledge, which they gained from their previous work experience of a particular niche area.

Philip Green, a billionaire, who made his fortune in garments retailing, claims that corner stone of his success is his knowledge of rag trade. He, presumably, can price a fabric simply by rubbing it between his fingers. Just by looking at a rack of coats he can predict which ones won't sell next season. That's the kind of knowledge required in order to become successful in entrepreneurship.

Around 45 percent of all start-ups fail to survive more than two years. One of the main reasons is many entrepreneurs do not accumulate needed industry knowledge before jumping into business world.

3. Self-confidence

Self confidence is a key entrepreneurial skill for success. It is easy to become demoralized, frustrated and resentful if you lack self-confidence.

Self-confidence is concerned with how a person feels about his ability. A successful entrepreneur believes in his abilities. He is not scared to explore un-chartered territories, take risk and take difficult decisions.

Self-confidence, however, is not a personal trait that either you have or you don't. A person can have high self-confidence in one situation and totally lack in another. This is one of those skills that can be developed by training.

4. Ability to get things done

Successful entrepreneurs are persistent and hardworking. They master self-discipline to such extent that if a work is important and related to their goals, they will, eventually, complete it.

Getting things done is the vital link between motivations and their outcome. At times, entrepreneurs force themselves to choose work over fun, a boring job against a pleasant one, working on tax papers rather than reading a glamour magazine. This requires a self-control that many people simply fail to develop in them.

5. Creativity

Creativity is the ability to use your insights and come up with new solutions to old problems, get things done in a different way or find a totally different approach for conventional things to work together. Entrepreneurs need creative thinking ability virtually in everything. Each new product, each new marketing method, each business decision - all these are fertile ground for creative thinking.

Often, entrepreneurs become immensely successful thanks to one single creative idea!

6. Ability to lead

Successful entrepreneurs are capable of leading people and get work done by them. They use a combination of various methods - effective motivation, planning, coaching and evaluation - to lead people. They are concerned about the wellbeing of others and easily get along with people.

7. Self reliance

Successful entrepreneurs try to take full responsibility for their actions. They know that what they are today, and what they are going to be tomorrow, depend solely on themselves, as it is the outcome of their own choices and decisions. They are proactive people, who set goals, walk an extra mile to achieve them and rely, primarily, on their own resources and abilities.

If you would like to check out if your personality fits the typical entrepreneurial profile, the following site has questionnaire that will help you asses your entrepreneurial skills:

http://www.rateyourself.com/subject.cfm/Subject_ID/2

If, even, you have all these great qualities and you feel quite confident about yourself, you will never know how good an entrepreneur you are, unless you give it a try! So, the best way to prove your abilities, is to jump start a new venture!

Nowshade Kabir is the founder, primary developer and present CEO of Rusbiz.com. A Ph. D. in Information Technology, he has wide experience in Business Consulting, International Trade and Web Marketing. Rusbiz is a Global B2B Emarketplace with solutions to start and run online business. You can contact him at mailto:nowshade[at]rusbiz.com, http://ezine.rusbiz.com, http://www.rusbiz.com

Traits of The Successful Entrepreneur

Want to know why certain people succeed and others don’t. Well successful people have certain traits? Do you have them?

Business has changed a great deal over the years. We now have computers, the internet and because of the internet - web pages, email and everything else that comes with it. Our telephone system has changed dramatically with the advent of cell phones and voice mail. However, even with all the technological advancements the traits that make a person successful in business can be traced way back when to our grandfather’s day. So before you decide you want to go into business for yourself, check and see if these traits are part of your make up.

Are you a person who sets goals? Most successful people have always set goals. They started at a very early age. They might have set the goal to be the best in a certain sport, or in a specific subject in school. Or if they wanted something, and knew that their parents couldn’t afford it, or wouldn’t spend the money for something, they earned the money themselves. They did this by setting up the lemonade stand, mowing lawns for neighbors, or delivering newspapers.

This is the same person, who as they got older, developed other goals and worked for them. Maybe they haven’t reached all of their goals, but they have always known what they wanted out of life. They have a vision for their future and they never lose sight of it. They keep revising and setting new goals for themselves. It is incomprehensible to them that everyone doesn’t do the same. They wonder how other people can live without striving for certain things.

The next trait is that the successful entrepreneur knows their strengths and weaknesses. They also face up to their fears. This means that they don’t let their egos get in the way. They know when they need to learn new skills or take other steps to make their business or themselves better. Due to the technological advances over the years, the skills and steps they need to take might be different; but the attitude has not. So do you have the attitude of a successful business person. To have this attitude you must realize that you are never done with the learning process, and you have to welcome any chance to improve your skills and knowledge.

Another trait is that they are always looking for opportunities. They could be in business or just getting started. In either case they know there are opportunities out there waiting for them. They also know that they need to find the opportunity that will work for them. Even those already running a business, are still open to possibilities.

Successful people will see opportunities other people miss. They also look at things objectively and ask the following questions: 1. Is this really as good as it sounds? 2. Is this something I really want to be doing? 3. Do I have the required skills or can I develop them? 4.Will this help me to reach the financial goals I have set for myself? 4. What impact will this have on my family?

A particularly important trait of the successful person is they will grab at an opportunity and take advantage of it, however they do not act impulsively. They take advantage of opportunities that come their way because they don’t want to be a shoulda, coulda, woulda type person. They don’t want to look back later in life and say I wish I had.

The next trait successful people have is that they like to know where they stand. They know their own business inside and out. However, they also know about their competition. They also know how well their own business measures up. And since they set goals they know exactly where they are in regards to reaching the financial goals they have set for themselves.

Successful people know how to handle budgets and finances. This is a very important trait. They are very cognizant of all phases of their finances. How much they owe, how much they have borrowed, interest rates, and anything else that can effect them. They always save for a rainy day. They are very much aware that they need to spend money to make money, and will put off expenditures for themselves (house, car, vacation) until they can afford it.

Another trait that successful people have in common is that they also don’t settle for second best. They like things done in a certain manner. They have standards that must be met for themselves and their product. If they work with an outside company and that company sends them something that is not up to their standards, they will return it. They look for the best products and the best workmanship in the price category they are working within. They would never put out a half hearted effort for a customer. If they realize they haven’t done a good job or haven’t done it right, they will do it again or set things right with the customer. This is why their customers are loyal to them and want to continue to do business with them again and again. Remember repeat business is why you are in business. If you don’t make a good impression the first time, you won’t get a second chance.

The successful entrepreneur has fun doing what they do. While they might not enjoy every aspect of their business, they enjoy the work that they do. One common theme you will find among them is that they enjoy it because its theirs, and they know they are building something for the future.

They also don’t mind putting in long hours because they know that this time is necessary in order for them to move forward. The owner wears many hats: sales calls, bookkeeping, and making sure that customers are satisfied and happy with their product and/or service. They also need to set up appointments, meet deadlines. However, they also know when playtime is over and it’s time to get down to business.

Another trait they all have in common is they get help when they need it. They will contact other professionals when warranted. They would rather be safe than sorry. They realize they are not experts in everything. They also realize at some point in their business that they can’t do it all, and that they have to delegate responsibility to either an outside source, independent contractor, or that they might have to hire an employee.

So, do you have the traits to become a successful entrepreneur?

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com

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