Success in business seems to be a very well-kept secret, at least to most people. Why else would 80% of all new business startups fail in the first three to five years? Recently I was working on our soon-to-be-published anthology “Real Hope for the Unemployed.” In the final chapter I was making the point that the only real hope for America’s unemployment problem is business ownership.
That is when I discovered the failure rate for business startups has remained virtually unchanged over the past twenty-five years. My immediate question was why. First: Why do businesses fail? And second: Why has this rate remained the same for a quarter of a century?
To answer the first question I found a report by Bradley University of Tennessee Research that said 25% of new businesses fail in the first year and that the top reasons were all largely due to the incompetence of the owner. Things like – emotional pricing, living too high … Continue reading
Mind Your Own Business!
Build a better life by taking care of business. Many employees are in business without realizing it. Learn the skills you need to make it grow
Are you operating a business without knowing it? Dumb question right? If you had a business, of course you would know about it. Maybe not – let’s take a hair stylist as an example. A hair stylist can make more money with a faithful following of regular customers. A successful hairstylist can use their loyal base of customers to launch their own business startup.
If you have no plans to start your own business, an “owner’s mentality” can assure that you become an indispensable employee. As an indispensable employee, you do not have to worry about getting laid off as long as the company you work for continues with business as usual. It is the “owner’s mentality” that causes you to stick with it until the job is done. A … Continue reading
We are preparing to start on the next book in our bestselling “Real Hope” series. a select group of industry experts will be invited to cooperate in this exciting anthology. Business failures still range in the 70% to 80% range in the first few years of existence. That is the bad news. The good news is that most of the reasons for failure can be resolved with knowledge.
I am not suggesting you go back to college for advanced study, not that that is a bad idea. It just is not practical for most of us. Rather, I would like to suggest that you get advice from experience coaches who have – been there – done that. It is amazing what you can glean from a few minutes or an hour with a qualified coach.
When you retain a coach, let the coach do the talking. Your business coach does not need your knowledge except to understand what you … Continue reading
The word has a nearly mystical feel to it. Many people think that entrepreneurs are born not made. I contend that we are all entrepreneurs. I believe that within each of us is an entrepreneur trying to express himself.
There is a unique connection between the idea of an artist and the idea of an entrepreneur.
Both are, of necessity, visionaries. Both are compelled to create. Neither are affected by conventional wisdom. Neither allow themselves to be swayed by public opinion. The work they do is inspiring to them. They are passionate about it and are literally swept away by the vision of their creation. They are energized by the process of creation.
The idea of this post is to hopefully identify what makes an entrepreneur tick and why we should each try to release the entrepreneur we have within us.
Management Guru Peter Drucker literally wrote the book on entrepreneurship and business management. The following 12 keys for entrepreneurial … Continue reading
Let’s think, for a few moments about the difference between potential and realized success.
Do we all have the potential for greatness? Is there within each of us that seed needed to move from mediocrity to success? What do we need to do to begin to realize the potential within us and turn it into a reality?
Change your life when you discover your potential.
Most people coast through life never asking the question, “Is this all there is?” They settle into a comfort zone without realizing that it has become a “rut” they can’t get out of. There was a recent story about a couple in California who purchased a piece of property and later discovered $11,000,000 worth of gold buried on their property under a tree. The question is, when did they become rich? Was it when they bought the property or was it only after they found the hidden treasure while walking their dog? The answer is … Continue reading