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Category: Business Activity

Starting Your Own Entrepreneurship – Passion, Grit, Vision

Definition and characteristics

In one of my recent posts the question of entrepreneurship was discussed from a standpoint of definition; and although the definition may differ slightly from person to person, entrepreneurship is about a set of principles and values that are seldom found in other areas of life. The way an individual approaches his/her own livelihood and the support of family and lifestyle provides the answer to whether or not that individual is an entrepreneur capable of operating an entrepreneurship.

Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently in one’s control. According to Wikipedia entrepreneurship is defined as “the act of being an entrepreneur, which can be defined as ‘one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods’. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity”.
Dictionary.com defines entrepreneur as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk”.

Must you be the rebel–mouthy and opinionated? Do you like the thrill of change, always eager for the next new venture? Is your idea of security to never be the victim of a corporation’s downsizing or reengineering? Are you a fiercely independent risk-taker who can comfortably handle the uncertainty of being responsible for your own paycheck? Do you have to possess these characteristics to be an entrepreneur?

Answering “yes” to these questions (except the last one) can put you firmly at the helm of your own entrepreneurship; But the answer to that last question need not be yes for you to qualify to run your own entrepreneurship because you can be, for example, less “mouthy and opinionated” and still be a successful entrepreneur, live a happy, rich life and be in control of your life and career.

Bare essentials & the research

If you start your entrepreneurship on the Web, you could begin operatiing with as little as $100 in seed money and your experience in your position at your current job and/or past experience. It is reasonable to assume that you’re putting in the required hours, if not more, at your current job, so you may have to work part-time from your home computer for a period of time before your business gains enough momentum that you could quit your day job. And obviously you can continue to work from home until your business income reaches levels of success that affords you some time to relax or do what other successful people do.

All this can be done if you have the passion, commitment and intuitive vision for running your own entrepreneurship. But somewhere along your road to successful entrepreneurship, you’re going to need a secret formula or USP (Unique Sales Proposal). Yes you need a passion for the thrill and independence of being an entrepreneur, but you also must have the commitment to follow through on that passion. Here’s are a few ideas which you can use as your success formula to help you get on your way.

First you have to know where you’re going, so research your chosen industry. Identify types of businesses that match your passionate vision and aptitude. Explore areas that show growth potential and, using your experience and insight, look for a need not presently being filled.

Find a successful company similar to the one you envision owning, and study how it started and how it grew. Learn as much as possible about the entrepreneur behind it. Devour books and publications related to your business concept. Talk to other entrepreneurs to discover their best practices.

Vision and action

As an entrepreneur-in-training, you’ll need to build basic and advanced leadership skills. A successful entrepreneur is a bold visionary, seeing what others cannot and willing to follow that vision despite naysayers. Many entrepreneurs never finished college, but that hasn’t stopped them from owning large companies like Dell Computer and small companies like neighborhood restaurants and consulting firms. They relied heavily on their visions, not on MBA programs.

Entrepreneurs handle ambiguity with ease. They get a thrill out of leading the way into unfamiliar territory and thumb their noses at failure. Fearless pacesetters, they are usually mystified to find they’re weak at operations and management.

That’s okay. Other people can manage for you, but you must be the guiding force that inspires your managers and staff to follow your vision. You’ll shoulder responsibility and hold yourself personally accountable for the outcome. As a leader you have to focus on the big picture and trust others to focus on the details. People who do it all are self-employed but not entrepreneurial.

You must also be an actor. You act and get things done by delegating, subcontracting and leveraging other people’s talents. You’re innovative and unwaveringly determined, willing to put in fast-moving 16-hour days to reap the rewards of independence, creative freedom and unlimited financial gain.

Learn to be a marketing genius. Everything is marketing, from the way you say “good morning” to the contacts you make. You sell ideas, products and services to potential purchasers by getting inside their minds and creatively communicating benefits.

Above all you must grow your enterprise and make a profit. People who say, “I love it so much I’d do it for free,” are not entrepreneurs–they’re volunteers. Most entrepreneurs are willing to start small and grow slowly, but they fully expect to make money. There is nothing noble about being poor or failing financially.

The Strategy

When you know where you’re going and have the courage to act, the only thing missing is the strategy for getting you there – but this is no small thing. Jumping into business without a strategic plan is like jumping in the ocean without knowing how to swim. To create the strategic plan, envision your enterprise exactly as you want it to be. Then write down your goals and objectives for achieving that vision. For each goal, create a strategy and a target date for achieving it.

Assess your strengths. You already possess knowledge, skills and experience your enterprise will draw on. List all your strengths that apply to your enterprise. Then appraise your challenges. They might involve market penetration, profitability, expertise, competition or location. Challenges change as your enterprise changes. How will your challenges impact your goals?

Act the part

Finally, act like a CEO. Create an income and spending plan. Know where your money is going, question every expenditure and keep the cash flow positive. That means taking in more money than you pay out, plain and simple. Make a budget and stick to it. A CEO gets things done through delegation, so create a framework of people who can help you achieve your entrepreneurial vision. Even if you work solo, you can benefit from a myriad of talented consultants, vendors and subcontractors.

If you stick to it and don’t quit on your dream, you’ll look back years from when you started with that small investment and a vision fro your own entrepreneurship, and you’ll probably smile. But whether the smile comes or not you’ll feel a burst of pride within you. That comes as a result of all your hard work, long hours and sheer determination that was necessary to make it happen. You might utter these words: “I did it”!

Digital & Electronic Products – Unbeatable in Quality and Price!

05/23/2012
Unique Touch Will Set Your Entrepreneurship Apart
Approach your entrepreneurship with a
dare-to-be-different attitude, and it will
create the edge you need to succeed.
– Tony Phillips

Your special something

That special something that only you can bring to your entrepreneurship and transfer it to your clients and/or customers has been defined in different ways by different industries. Some refer to it as a “schtick”, others a “modus operandi” or “tactic” and still others, a USP (Unique Sales Proposition/Proposal), the last term used most often in the copywriting business.

That unique touch I refer to adds value to your website and your service or product and is one of the most over looked and under rated strategies for improving your Web entrepreneurship. The Web and modern technology make it possible for anyone to offer that little something extra that nobody else does, and usually at no additional cost.

The why, what and how!

First the Why! Let’s look at why this is a good practice for big and small businesses alike, including your entrepreneurship: It’s a good thing to do because you will make more money if you integrate the schtick into your daily activities by making it a part of your overall business practice!

Second is the What! Now let’s take a look at exactly what value adding is! Value adding is giving surprise high quality and useful gifts. It’s giving something that your competitors aren’t offering. It’s promising the world and delivering the universe. It’s taking care of your clients and always providing something that your clients need and want, when and where they want it.

Third is the How! We’ll now take a look at the different ways this can be done: If you receive a free gift from someone when you don’t expect it, do you remember that person?

The USP example

Answer: Yes, most of us do, especially when it is something we can use or have needed. How can you do this in your entrepreship? The best way to answer this question is with an example as stated below:

If you go out to dinner and order a menu item, what do you expect? You expect to get what you ordered from that menu, right? Now imagine that you ordered a T-Bone steak medium well along with your beverage of choice and whatever side orders comes with the dish.

Say you enjoy your meal and is satisfied with the service as well as the price you pay, which you consider very good or great. You grab the bill and is ready to leave when the restaurant owner comes to your table with a package which turns out to be a bottle of good wine ($25.00 value) from his own cellar and gives it to you with these words: “our special gift to you”. Wouldn’t that make you more likely to go back to that restaurant for future steak dinners? Probably not only steak dinners either!

That’s one simple example, and I understand that it is impractical for you to sell steak dinners in a Web entrepreneurship, but I also understand that everyone may not relate to Internet newsletters or know what an eZine subscriptions is; however, you will agree we all have had a decent restaurant meal at one time or another, so a steak dinner is something we can all relate to. The point is, that restaurant owner got your attention with his unique touch.

The unique ingredient

Think of something you have that many other entrepreneurs don’t or, if others have it, they cannot serve it or apply it with the same skill or touch you can. You may have studied oceanography in college or maybe you’re a good swimmer who never went to college but have a knack for marine life and you own a Web entreneurship/website about marinas. Add something directly from you that anyone else will find it hard to match. That’s the best description of your unique touch / schtick / USP.

So you can see that by offering this free and unique gift you have achieved several things:
1. You have developed a product (at no cost to you) that you can sell and make a profit on. Think of it this way: Your unique touch, when added to an existing product has the potential of making that product like new. Just like new paint on an old house. “A coat of paint makes it what it ain’t”.
2. You have used that product to increase the chances of your new entrepreneurship getting repeat customers or visitors to your website (prospects now but future customers), as well as keeping their attention, if not loyalty will ensure that any specials you run and notify them via email they will open, so your list will also be easier to maintain.
3. You have promoted you site/service to other Web marketers that you may wish to do a joint venture with at some time.
Other ways to add value for less effort is to:
- Offer a 110 percent guarantee instead of a 100 percent.
- Offer FREE tips about how to get the best out of your product, etc., get the idea?
- It’s all just a matter of finding ways that you can give more, because the more you give the more you will receive.
I sincerely believe that and I hope you do also…You’ll be better off for it. Good luck!

Digital & Electronic Products – Unbeatable in Quality and Price!
05/05/2012
First Steps Towards Your Own Web Entrepreneurship
First steps: Choosing the business

When starting an Web-based business there are a few things you should consider must-have requirements.
1. Business Name – Domain
2. Web Hosting
3. Advertising (Marketing) Budget
4. Web Marketing Tools
Among the most important requirements when starting your Web-based business is the business name. Since you will also need a domain name to make it possible for Web users to find your business, it will serve you well if you can get a domain name that is the same as, or very similar to your business name. Reason being, in the case of a Web-based business, your website IS your business; so having a domain name and business name that is the same will improve your marketing and optimization efforts.

Web Hosting is to your Web-based business as commercial space is to your offline (brick and mortar) business. You need a space in which to operate, where your customers can come and visit your store, look around, browse and perhaps make a purchase. Web Hosting provides that space for your web-based business. The Web Hosting company may be viewed as similar to your offline – retail space – landlord. They both provide the space from which you operate your business, making it a must-have requirement.

Exposure for your business

Now that you have your business/domain name and your Web hosting, you’re going to need exposure for your business. This aspect of your Web-based business can also be compared to an offline – brick and mortar – business in that advertising is essential to the success or failure of the brick and mortar and is even a more crucial element to your Web-based business because you would not have the benefit of “walk-in” traffic with a Web-based entity. So you must have an advertising and marketing budget.

In order to be as proficient in marketing your Web-based business – as you must assume your competitor is – you will need a Web marketing toolkit consisting of the kind of Web marketing tools you’re most comfortable with to facilitate your marketing campaigns. This is an area in which you will find several options. Web marketing tools you will be able to choose from include (it’s assumed that you’ll have a computer and internet connection):
- Website/Blog
- Lead Capture Software
- Autoresponder
- Video Producer
- Web Conferencing
- WYSIWYG or Other HTML Editor
You will also have at your disposal a number of Web marketing methods, techniques and resources that are proven to get results based on prior use by many successful and well established Web business owners who came before you. Types of marketing I refer to are:
- Content Creation (Article Marketing)
- Social Media Marketing (Social Networking)
- Copywriting (Salesletter Composition)
- PPC (Pay-Per-Click) Campaigns
- Traffic Exchange Surfing
- SEO (Search Engine Optimization)
Profitability: The ultimate goal

Some of these methods you may not be familiar with in the early days of your Web-based business. However, you will always have the option of hiring someone who is an expert in one of these areas to do a professional job for you, which is why an “advertising and marketing” budget is among your must-have requirements.

After you’ve put together the best combination of your must-haves, Web marketing tools and types of marketing you intend to utilize, you can then decide whether or not you want to do most of the work, hire professionals to do the work or automate – as much as possible – your Web-based business so as to reduce your workload.

Let’s not forget what may be the most important element of your Web-based business. It must be Profitable! You may requireme that the business have the potential to generate at least $1,000 per month in profit, so as to replace the income from your job, thus making your Web-based business your full time job.

Only you will know the amount of revenue you want your Web-based business to generate. Once you’ve set a monetary goal and your other must-have requirements are in place, you can be off to the best start expected of any Web-based entity. Good Luck!
04/27/2012
Starting A Business With The Three ‘Ps’ In Stock

The first of three ‘Ps’? Plan!

There are a lot of factors to consider when starting a business. Primary among these factors are what has commonly been referred to as the three “P”s – Plan, Prepare, Persist. As the business owner you are responsible for eveything that happens in that new business and all decisions are yours to make, so it follows that you must utilize every tool, strategy and resource that will enhance your ability to operate the business efficiently and effectively with an eye towards ultimate success.

After you have selected some ideas from your brainstorming to base your business around, the next step is to create a plan of attack. List all that you think you’ll need before your business starts.

What will your ongoing expenses be? Factors may include rent, utilities, permits, licensing, legal fees, inventory, staff, design, marketing collateral, mailing lists, software, advertising and more. Get as much as you can down on paper and set deadlines to get things accomplished. In every business there is goal-setting (or should be) and every realistic goal has a deadline. This will allow you to evaluate your pace.

Prepare: The second of three ‘Ps’!

Once you have a plan, you must implement it by working in accordance with the steps set forth in that plan. Preparing to start a business can be a lot of work. Tasks may include getting an identity designed (or logo), creating business cards, brochures, web sites and other marketing material, consulting with CPA’s, lawyers, and HR professionals, in some cases finding and renting or buying a storefront or office, furnishing the business space, getting utilities in place, receiving and organizing inventory, getting a database for your customers and leads and any number of other tasks.

By running a home business, some of these steps will already be taken care of, yet opening a business of any kind can be an enormous task. While planning your business make sure to leave plenty of time to get it up and running. Better to plan your setup time too long than too short and finding yourself running out of money.

The third ‘P’ is Persist

This is the most important step of running a business. Without persistence, you won’t even be able to finish your business plan. Hang on like a pit-bull. When the going gets tough, get tougher. Have worst case scenario plans to fall back on, as well as best case scenario plans.

Some businesses become over-night successes, while others take a year or two develop. Along the way there will be occurrences and events that will have an effect on your business. If it’s based offline (brick and mortar), you may experience power-outs, acts of God (hurricanes, floods, snow storms, etc.), acts of the local municipality (tax increases, license rate changes, highway construction & repair, etc.), and a host of other changes that could cause you to lose momentum, if not money.

But the one thing you must have is focus on your goals. If you plan, prepare and persist, you’ve got a very good chance of business success, because you would have a foundation upon which to build.

04/05/2012
Home Based Web Business – A Network Marketing Affair

If you have been in the eCommerce market for at least 6 months, you are already receiving offers from many companies promoting their products/services to you, and this will continue as businesses offer you the opportunity to become a distributor of those products and/or services. While many of these businesses offer the opportunity free of charge, others may require you to pay a fee similar to that of a franchise, based on their willingness to set up a website with your name on it and provide instructions on how to make it a success.

Regardless of the motives behind their willingness to share knowledge, techniques and strategies, you’re still able to share in the wealth of their business operations. Where many people make the mistake, is in getting involved with a home-based Web business and then believing – mistakenly – that just by filling out the online forms and paying the required fees, they will immediately start on a money-making journey to riches, wealth and the realization of their dreams.

This could not be farther from the reality of what actually happens after getting involved with a home-based web business. Failure to think long enough about how you came to be involved in this type of business, and the fact that someone was marketing this plan to you, can often lead to failure to grow your new business by marketing it to others; as many “others” as you possibly can during the early years of the new venture.

So the time to relax is not in the beginning of your new business but after you put in the required time (10 to 18 hour days and 7 day weeks, for as long as it takes) to make your business a success. The major portion of your time, work and and money will be spent – or should be spent – promoting and advertising your new business.

There are numerous ways to promote your home-based Web business, such as old-fashion advertising, handing out business cards or even putting you web address on the side of your vehicle to be seen while you drive to the grocery store or around town. All that may be good to draw a half dozen people or so to your new business venture, but to help it really grow and ultimately succeed, it may be necessary to rely more on the network marketing strategy.

Oil millionaire J. Paul Getty is often quoted as saying, he would rather have one percent of the efforts of 100 people, than 100 percent of his own efforts; and that is the basis of network marketing. The Kirby vacuum cleaner company devised its own form of network marketing as far back as 1935 before the phrase was coined and the concept totally understood.

The KVC company knew that in order to sell their sweepers, a sit-down presentation was needed. They had a few dealers with whom they shared the profits of their sales and using their proven methods they taught others to sell the sweepers and each person who was brought in as a sales representative could also share in the profits off the efforts of others once s/he followed the proven success plan.

While a few people may make a lot of money in a short period of time with network marketing, most must grow their business slowly, because of the learning curve, as well as the marketing tests (or test marketing as the case may be) that must take place if your home-based Web business is to be a success. Test marketing is a time-consuming activity which cannot be rushed.

You owe it to your business and yourself (and family, if applicable) to devote the number of hours every day, week and month to learn all you need to know from and about the sponsoring company (if your business is network marketing or milti-level marketing in nature), and anything else you need to know about how to market the product or service you are selling.

Once you educate yourself, you can train others to be successful by teaching them to market the product or service and make money from their sales as well. The more people they have working under them, the more money they can make; And since you devoted valuable time, money and resources to train them, you will also make more money which you would deserve.

04/01/2012
Customers: The Entrepreneurial Blueprint For Marketing Success
TPJaveton WebNet welcomes past readers and supporters of the Web Marketing Tips for Entrepreneurs Website!

As you may already know, the content of Web Marketing Tips for Entrepreneurs was recently merged with TPJaveton WebNet in our efforts to consolidate the various Internet properties owned and operated by TPJaveton & Associates into one comprehensive site. If you experienced any inconvenience during your efforts to find the content you’re used to reading at WMTfE, we extend our sincerest apologies. However, we will try to bring you content that is qualitatively as good as what you’ve become accustomed to at WMTfE. Thanks for visiting again!

Customer discovery

The headline to this article that Customers Are The Entrepreneurial Blueprint For Marketing Success is a rather obvious statement. However, it is being emphasized here to express the point that what is obvious or may seem routine is oftentimes the very thing that is neglected in entrepreneurships and businesses all over the world, and invariably leads to the failure of those businesses. Thus the question…

How well do you know your customers? a little introspection can get the ball rolling in you getting a pretty good idea of who your customers are and exactly what is the primary reason your they (customers and/or clients) come to your website, product page or – if your business is offline – your business establishment? What is the primary reason your customers purchase your product or service? What is the Number One problem you solve for them? Do you know? Are you certain? If you don’t know or are not certain, your marketing could be missing the mark, and you could be missing out on sales.

Uncovering Your “Key Selling Point”

This is the Single Marketing Message that is central in all of your communications about your business, product or service. You might say it is your Unique Sales Proposition. It can be difficult for small business owners to determine what their single marketing message or USP should be. Why? Because they are too close to their business; And, because they are viewing their business from their side of the desk, or counter as the case may be.

That having been said, how are you keeping your marketing customer-focused and dealing with the challenges it is most certain to present? And even if you, the forward thinking business owner have figured out how to meet such a challenge, have you considered looking at your business from our customers’ perspective? We both know it’s often easier said than done. It very easy to many business owners to get caught up in all the amazing features of our product or service and the reasons WE THINK our clients are attracted to or buying from us.

But sometimes our vantage point is clouded by our own perceptions and beliefs. And those perceptions and beliefs may be inaccurate. So how do you pinpoint the real reason customers are attracted to your product or service and the true reasons they are choosing to buy?

The easy way to stay on track

Very simply, YOU ASK THEM! Okay, I know it seems obvious, but you’d be surprised how often we don’t think of the obvious, a sentiment expressed earlier in this post. Your prospects and customers (and yes, even your non-buyers) can provide great insights about the benefits they value most in your product or service and why they chose to buy, or not buy, in the case of the non-buyers.

Let’s get straight to a very integral part of every entrepreneur’s duty – yes, I said duty – which will bring things more into focus: Research! You don’t have to have a large customer or prospect base to do some research and see if you are on track; because even if you only have a handful of clients or customers, you could contact them and ask them what they like most about your product or service.

Talk to your Clients or Customers
1. What is the one thing that got them to purchase?
2. Have you delivered on that promise?
3. What do they like least about your product or service?
4. How could you improve your product or service?
5. What else (in your business category) do they have a need for?
6. How else could you help them be successful, be happier, or solve whatever problem your product or service solves for them?
Talk to & survey your non-buyers (This have been done very successfully by a number of eCommerce companies) – find out why they DIDN’T buy.
- Ask them what product or service they bought instead of yours? And why?
- Ask them what that competing product or service offered that yours did not?
- Ask if there is anything you could do to get their business in the future? Product or service changes, additions, deletions?
Talk to your Prospects

Do you have a list of prospects – those who have expressed an interest in your product or service but have not yet purchased? Perhaps they have subscribed to your newsletter or ezine.
- Ask them for feedback on your newsletter or ezine content.
- What topics are they interested in learning more about?
- How can you help them to be more successful, happier, etc?
- Find out what they want and who they are.
And in all three cases — Clients/Customers, Rejecters, and Prospects — if it seems appropriate, ask for a little information about who they are. Age, gender, profession, where they live, how much they typically spend in your product or service category.

This will help you get a better understanding of your target audience and you’ll know if you are attracting the kind of people you thought would be interested in your product or service. And if you need to change your marketing strategy to reach a different audience, or to perhaps change your target audience, doing so will help you better serve them.

The more you can learn about your prospects and customers the better you can serve them. And the more effectively you can market to them. You may be in for a surprise, but customers and prospects will tell you why they are buying from you or not buying, if they are asked. What you hear surprise you.

Very often what you hear can help you zero-in on a Unique Selling Proposition that you never thought of. And because it came from the mouths of your customers you know it is compelling and effective, but don’t change everything based on a few opinions.

My only caution is if you only have a handful of customers or prospects to survey, don’t make any major changes or decisions until you are able to validate your findings among a larger group of people… Or at least test any changes you do make before making a final decision to overhaul your entire business or marketing plan. Common sense is the rule here. Just use your own good judgment and don’t over-react to comments made by only a handful of people.

Don’t be afraid to ASK

There are any number of ways to collect research from your prospects and customers. You can telephone them, email them, mail them a written questionnaire, or you can meet with them in a group (called a focus group) to collect their opinions. You can be as formal or informal as is comfortable for you, while also making them as comfortable as you possibly can. Typically the larger number of clients you survey, the more formal the survey. If you have only a handful of people to talk to, simply pick up the phone and call them.

Don’t be afraid to ask for opinions on your products or services or how you can serve your clients better. What you find out could be extremely valuable in helping you to build and grow your business; And…

Don’t forget to say the magical word(s): “Thanks” or “Thank you”, as the case may be.

You will also want to consider offering an incentive to encourage your prospects and clients to participate or respond. A bonus, such as a special report, or a discount on a future purchase is a nice way to show your appreciation for them taking the time to respond to your survey.

Read more about the entrepreneurial experience and business-related topics take a look at some of the following articles published right on this website:
Digital & Electronic Products – Unbeatable in Quality and Price!
03/27/2012