Posted tagged ‘Small business startup’

Starting a business: Steps to Financial Freedom & Self Employment

October 4, 2009

What makes Tiger Woods, or Tom Brady different.  It is an insatiable desire to win. Burning desire is the starting point of all achievement.  Whatever the mind of man can conceive and believe, it can achieve.  All achievement, all earned riches have their beginning in an idea!  – Napoleon Hill

The journey towards self-employment and financial freedom begins with one, single, passionate idea.

We have all had them, ideas that would revolutionize the world, simplify life or enhance the functionality of a product. Usually these all-pervasive ideas come to us while we are in the shower, or while driving down the road, even while listening to music. How often have we come up with an excellent idea only to find someone else actually implementing it?  So why is it that only a few actually succeed in making their dreams a reality?  How do we realize our burning desire to be self-employed and transform these earth-shattering ideas from mere daydreams to a successful corporation?  A true entrepreneur is driven by the desire to be successful. This burning desire is the launching pad of viable ideas. The essence lies in the simplicity of the idea (Value + Simplicity = Success) by Sid Kemp.

The desire to achieving tremendous success can be classified into the following rudimentary steps. Begin by actually visualizing the outcome.  Imagine the reason why you want to start the business.  Visualize the exact amount of wealth you would like to generate. Since every action has an equal and opposite reaction, next determine what you are willing to sacrifice or give up in order to attain your desired goal.  Many entrepreneurs never set sail; they analyze the idea to death, procrastinate about launching the business and hence fail to achieve their fullest potential.  Decide the date by which you want to start your business.  Having determined the “Go Live” date conduct a thorough analysis of the business idea, by writing a detailed business plan. Finally, align the people, business processes and technology needs with your desired goals and objectives to build a cohesive unit.  Failure is no longer an option.

The reality is that with an unlimited opportunity and a business climate conducive to new ventures, there is a phenomenal influx of ideas.  Venture capitalist receive about 12,000 business plans per year in this Internet Age, but end up financing only about 15 to 20.

Back to the original question: How are we going to do this? Take our ideas from start to finish.  Ultimately, the answer will be found in looking at how the winners did it. Not only that, but we should listen to the experiences of startup experts, such as industry leaders and financiers. From all this, we will be able to process engineer a start-to-finish integrated methodology to launch our dreams into reality

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Starting your own Business -Managing Growth & Risk

September 5, 2009

Growing Pain:Managing Growth for SMBs,Small Business, Entrepreneurs

The greatest challenge that any organization especialltySmall Business faces is in managing growth along with the successful execution of business ideas.  In today’s hyper competitive business environment, achieving profitability is extremely critical.  As your sales volumes surge, managing the day-to-day operations can become a complicated and a time-consuming process. 

It is my experience that entrepreneurs end up performing several job functions during the course of a day.  As the business grows, they find themselves pulled in several different directions, battling one crisis after another.  The excitement and enthusiasm of managing an organization soon fades and they find themselves paralyzed by numerous issues surrounding staffing, business process management (BPM) and financial operations to name a few.

Organizations that have the ability to convert thought into action succeed while the rest languish in mediocrity.