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Business Planning Articles |
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All Business Planning Articles
A serial entrepreneur for over ten years. Here are 10 of the biggest lessons Kim has learned thus far.
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“I’m a solo entrepreneur,” you say. “Why would I set up systems that might squelch the creative energy in my small business?” After all, you started your business because you wanted freedom, right? This is a great question! The truth is that while you may have left a more corporate environment with dreams of doing things your own way (having flexibility and freedom), there are some very good reasons for putting systems in place. In fact, I can name at least seven gifts you’ll receive when you systemize your small business.
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In a time when information - good and bad - surrounds us and we're hit (it actually feels like I'm being hit sometimes) with thousands of marketing messages every day around what we should do with our business, it's no wonder you're confused about the best way to get where you're going.
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Whatever the “thing” is you do in your business, you do it because you know the positive impact it can have for the right people. And you have a passion for sharing that.
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For most people, the huge missing piece of the puzzle is failing to paint a vivid picture of the bright, positive future that is possible when someone buys from you. Skip the details about the process (2 CDs, 3 sessions, 4 checklists) and zoom the viewfinder straight to the fantastic outcome.
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Marketing isn’t a one shot deal. It’s an ongoing opportunity for you to offer your ideas, packaged into programs, products and services. Just remember that in the long run, making one offer at a time will help you create the ultimate outcome you desire, which is to help more people and to put more money into your purse!
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When you first start your company, you probably will wear all the hats and work harder than you ever have. But once the business is built and you start to gain new customers and sell products, it is a lot of fun. The best part of being a leader is being able to pick up the phone and have access to someone you have admired for years because you are a gatekeeper to a database of customers. You learn so much from those experts you now have access to, and your customers will love you for it when you graciously pass new information on to them.
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Your Compelling Free Offer (CFO) is what entices people to want to find out more about you and what it is that you're offering. When you make your complimentary offer compelling enough, more people will be interested in taking advantage of it, which increase the audience to which you can then market to.
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Now while "done-ing" certainly isn't a word (yet), it does speak to the difference between working on a project so that you're forever "doing" it and actually getting it "done". As small business owners and entrepreneurs dedicated to making our businesses a success, we need to be focused a lot more on the "done-ing" than the doing.
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Your relationship with money and how your feel about it determines your success. Period. If you feel shame when you have debt or if you are paralyzed when making a certain investment because of a relative number, then your money mindsets are affecting your results. To be successful, it is crucial that you begin a lifelong study of healthy mindsets and behaviors you should have where your money is concerned.
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Before you choose your target market, before you build your website, before you learn the latest online marketing strategies; you must choose an equitable and passive business model that allows your customers to see you as a leader in your industry. Not as a player, but as a leader. Most entrepreneurs start businesses without ever considering their business model and then they spin their wheels for years working a service-based business where they start over each day and have nothing to show for their previous work.
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Are you finding it hard to connect with enough prospects? You are doing all of this great work, but not very many people know about it or at least not enough for the flow of business to be moving smoothly and easily? Stop. Start. Stop. Start. Well, there isn't one perfect way to consistently connect with prospects, but there are many ways!
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Do you have a process for gaining the commitment from your ideal client? This process is of UTMOST importance in your business (whether you work on-line or off-line), but you would be surprised how many people 'wing it.' Now, with that being said, it's also important this system is natural to you--that's why YOU need to develop it.
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Yes the government is doing crazy things. Yes we have pirates and pig flu and everything else. But you shouldn’t be panicking because it’s very possible for us to not just survive but thrive.
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"Target fixation" is being SO incredibly focused on your goal (your target) that you fail to see all the other opportunities around you. Learn how to overcome this fixation.
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It’s been a fascinating two weeks as I interviewed 18 different internet marketing experts who shared tips on how to maximize your online presence. I think what I found the most interesting was how the expertise of the different speakers weaved together. In the end I discovered consistent references to what it takes to be successful in today’s economy. Let me share some of my highlights of the four online success principle I discovered:
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What is it that moves a client from being merely satisfied to being loyal to the point that they will stick with you over time and refer others to you naturally and with excitement? According to customer service studies by marketing gurus of the world, here are the following qualities, which must be present in your life and your business in order to develop raving fan customers who are not just satisfied but completely loyal to you over the long haul.
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You will want to be seen as an expert and a resource for the people in your target market. Take the time to update and add to your own list of resources. Think of the recommendations that you make to the people you work with. These can include books you read, web sites you visit and services you use.
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You know what really makes me MAD? When I see someone acting like a bigshot with no substance behind them, asking you to pay them handsomely to teach you something that they themselves have NEVER done. Here are five questions you should ask before investing heavily in anyone's products, programs, coaching, or workshops.
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It's critical you have a system in place to insure you get the most out of each and every seminar and workshop you attend -- after all, you're spending your money AND time attending. So how do you do that?
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Times are tough. There's no doubt about it. That said, I had my best month ever in March and quarter 1 was my best quarter ever. In fact, I'm on target to surpass my 2008 revenue by June 30th. I don't tell you that to brag, I tell you so that you can learn from what I'm doing, which, by the way, is almost the exact opposite of what I'm seeing many others doing. So what's my secret?
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What keeps you from staying in action towards your desired goals? I can bet it’s that four letter word…FEAR. Maybe your first few baby steps toward your goal were a breeze. And then…it’s time to make a specific request from someone or get out to a networking meeting and say “who you are and what you do” in 30 seconds (when you’re not exactly sure who the heck you are yet!) Taking what feels like a big risk can stop you cold.
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Assessments can be a very powerful way to learn more about yourself, your employees, customers and clients. Assessments often allow us to connect quickly with others and get right to the heart of their issues.
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A wonderful way to add value for your clients is to become a resource hub. Nothing is more attractive than someone who can put his or her hands on an answer quickly. By beginning to collect articles on a variety of subjects and links to websites that offer valuable information, you will be able to send articles and information to your clients as the need arises.
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I remember six years ago making a decision that would change my life and business forever. I decided to travel across the country to attend a marketing seminar. Here are 5 reasons attending live events is one of the BEST ways to leapfrog your business forward.
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Many of the solo professionals whom I coach are people who offer services. They're coaches, consultants, creatives. They’re amazing people with huge hearts and their own unique gifts and genius to share with the world. But here's the problem: I see many of them focusing on the wrong things.
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As a business owner, you're no longer sitting in your too-small cubicle waiting to be called to HR for yet another downsizing in yet another company. No more being told when you can take lunch, make a personal call or, heaven forbid, go to the bathroom. Owning your own business comes with lots of perks. One of them that is frequently overlooked however is that YOU now have the ability to let a client go.
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Have you heard about the Leverage Triangle yet? As entrepreneurs and pursuers of our dreams and passions, we all have 3 elements to work with when we start a business: Time, Expertise, and Money.
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Highs and lows in business. What is your timeline and how does it affect the running of your business?
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What exactly IS "Strategic Implementation"? And how can you achieve it?
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What if you could use what is hardest in your life right now to build a better life for yourself? This simple inventory exercise will help you maneuver through tough times.
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Since success is really internal and not determined by external events, one measure of success is how happy you are regardless of what the economic yardstick shows. The following are steps to increase both internal and external success.
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Having multiple streams of income gives you an edge when cycles change – one income stream may start going flat while another is building up. Having several projects is an insurance policy to staying afloat. How do you get started in creating multiple streams of income? Well here are some specific, powerful steps to get you started.
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Lately I've been hearing from clients and colleagues about bad experiences they've had when working with a virtual assistant. Here are five tips for ensuring you find a great virtual assistant to partner with, and making it the rewarding experience it should be.
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I've noticed a trend with my clients: they're either struggling to make low 6 figures (say up to $200,000) or they're at the million dollar mark and beyond. Why the marked difference in revenue?
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Communication is essential to the success of any team, but when you're working with that team virtually then communication becomes even more important. Read on as I share with you my tips for creating successful communication with your virtual assistant.
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Open a Research and Development Team (R & D Team). An R & D team is a group of folks who you invite to join you in developing your products, programs, and services. They can be vital to your business development.
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The secret to success for entrepreneurs and small business owners is not another brilliant marketing idea. There's a better place to start first. The real secret to success is tapping into and using your intuition in your business on a consistent basis. You might be wondering... Can this really be true?
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Every time I hear someone lamenting about a “client from hell” I think, “Yep, been there, done that.” This is where money doesn’t matter. Because no matter HOW much a client is paying you, if they’re no fun to work with, the expense of maintaining such a client will rob you of time, energy and motivation. Plus, I believe it energetically “taints” your bank account, making it more difficult to prosper and thrive. Here are three quick tips on how to create your “platinum filter” that only lets in the cream of the crop clients, and gently keeps out those that aren’t quite your style.
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Take a moment before beginning to read this article. Ask yourself, have I showed love, compassion, kindness, forgiveness and care in my business and in my business dealings? Have I stood in a place of integrity, tact and professionalism in all of my interactions? If yes, beautiful. You are already ten steps ahead and more than likely, reading this article will feel more like a review of things you already do. If you somewhat take a lesser grade on answering those questions, that's okay too. Not all hope is lost and you can still spark that fire in your romance with your business.
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People buy from those they know and trust. Nowhere is this more true than on the Internet, where you may never even meet anyone in person. Establishing a trust relationship with your potential online clients takes time, but it is well worth the effort!
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For the past few Thursday evenings millions of Americans were glued to their TV tubes watching Donald Trump’s reality show “The Apprentice” and speculating who will be fired next. Regardless of your overall thoughts of the show, you can’t argue the fact that at times it delivered great insights into human behavior, business success principles and marketing savvy!
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This past weekend I received a disturbing message from a dear friend. His business wasn’t generating all the income he needed. He’s exhausted all savings, started depleting credit card reserves and badly needed money to pay this month’s mortgage... Ouch! I wish I knew sooner...
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As business owners, we often neglect to book time to work on our businesses. The good thing about a lull in your business is that it forces you to do this — if you take advantage of the opportunity presented to you. Here are 10 ways to do this.
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How do you know when the decision you’re making is the best choice?
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Look around you. Do you have everything you desire for your business? If your business is not where you want it to be, you need to look at where YOU are focusing your thoughts, feelings, and actions. You can't blame anyone or anything if you are not where you want to be.
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Having a business of your dreams is all about the energy. I have coached many people that had no clue of HOW they were going to do things, and in some cases, they had some real gaps in skills like marketing and selling. But, when they really understood that this is an ENERGY game- first and foremost- and they focused more on the way they felt, and how they could make small shifts, then they started to see things showing up that AMAZED them.
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Building a million dollar information marketing business doesn't start with getting all excited about the latest article or blog submitting gizmo, or a fly-by-night tactic that works today and is obsolete (or banned) tomorrow. Instead, information marketing millionaires build strong foundations first by focusing on developing an effective business model that allows fast growth. Here are the five critical components you must include in your business model.
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The real world of he home office: unforeseen distractions, a lack of structured time, and sometimes a perceived loss of identity. But don't give up the dream just yet! By putting into place a few simple ideas, you can reap more of the rewards of staying home-bound. Based on my experiences and those of my clients, here are 10 simple ways to help you stay on track.
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Do you sometimes wonder what's the point of setting intentions? Some entrepreneurs set goals and intentions with joy; but others sabotage their business success by subconsciously waiting for their intentions to bomb. Which is it for you?
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Creating a business plan doesn't have to be a complicated process. In fact, the simpler it is, the more likely you will be successful implementing the plan. This year, create a business plan in 7 easy steps Bonita's outlined for you.
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What does “become the market you want to capture” mean? It means becoming you!—being so irresistibly attractive that your clients want to buy from you. It means owning your attractiveness! By being yourself and showing your uniqueness—owning it and letting it shine for all the world to see—you become the market you want to capture! Ask yourself these questions.
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One of the most important things you can do for your business is to plan a creative retreat. Even small businesses and solo-entrepreneurs need time away from their home office to reflect, dream and plan for the new year.
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Savvy entrepreneur knows there’s still plenty of opportunities and cash floating around in spite of the “bad economy”. Learn about 7 simple business growth strategies you use to grow your business and income in 2009.
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Your recognition of and gratitude for the power of love creates more abundance in your business and life. This fuels the fountain of potential.
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Have you ever felt confused when it comes to your business? Maybe you've felt unsatisfied in your business, longed for some challenges, or knew you wanted to enter a new phase or direction of business, but just felt unsure about what to do or how to go about it. Whenever this topic comes up with my clients (as it has also come up for me), I've learned to notice that it isn't really about confusion, it's more about fear of success.
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Is there a part of your business that's on hold because you're just doing what you always do? Are you so caught up in answering emails, trying to get clients, picking up the dry cleaning, and getting dinner on the table (or at least down your throat) that you've lost all sense of purpose? Or maybe the idea of having goals, doing something different, getting your business to another place just feels, well, exhausting and, anyway, if you really went after your dreams, you'd probably be disappointed.
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When I think of all the mistakes I've made in my business (some small and some not-so-small) it's important to remind myself that “perfect” doesn’t equal more successful.
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As the owner of four online companies, my job is to sit down every year and decide my SWOT for the next 12 months and then to consistently revisit my SWOT throughout each year and tweak as needed. What is SWOT and how can you use it to strengthen your business?
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Learn the twelve things to do to get the best return on your investment for your business for 2009.
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In building and growing an online business, or one with a strong online component, there are several must-have tools which will allow you to not only have passive revenue, but to enjoy multiple streams of it. Here's a quick rundown of the most basic tools.
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I have found, with the clients I work with, that they almost always underestimate the resources they already have right here and right now to get started on their new business. If you find yourself doing the same, let me remind you of what you have.
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Most of the people drawn to my writing are 40+ and are looking to live more authentically. Many of you are thinking of becoming self employed. If you are now considering self employment, I want you to know that there are many possibilities for you. Here are a few ideas to get your creative sparks going.
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Undoubtedly, any business can slip into a slow period. BUT...the trick is to know WHAT to do to get your business back on track as quickly as possible and better yet, HOW to avoid slipping into a slow spot in it in the first place. Here are 5 tips I personally use to coach my clients out of slow and into "go!"
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Do you find yourself falling into the trap of focusing on what seems important, only to feel like you're missing out on creating the wealth, grace and ease you truly want from your business? Happily, the solution to this very common business problem is pretty simple. And, the good news is, it doesn't involve any complicated time management systems. So let's look at 4 simple tips that I personally use that will help you put the soul back into your day and more dollars into your bank account.
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Learn 6 key strategies to make your solo entrepreneur business a success.
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People are talking about a recession and that means fear is in the air. Well if you want your small or solo business or practice to flourish anyway, make sure you’re not making any of these common mistakes. Just correcting one of these can make a huge difference in the results you’re getting.
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If you own a small or solo business or practice, or are an independent service professional here are some great business building ideas for you.
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Here are 3 common situations that often crop up, and are perfect opportunities to use "no" to powerfully move your confidence, your business and your client relationships forward.
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I don't know about you, but as I look around I still see people jammed into shopping malls and spending, spending, spending. Compared with the rest of the world, we really have nothing to complain about. And for you reading this article, this recession will only be what YOU make of it. Here are three steps to turning this "lemon" of a recession into some entrepreneurial lemonade.
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Like any small business, the first few years can create a solid foundation or a rocky one. This Success Story features Monica Ross of Virtual Bookkeeping, a successful seed.
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If you are a small business start up, a micro or solo entrepreneur, you're probably wondering where to find the money that will allow you to grow your business.
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The small, solo and micro businesses that jump on these trends quickly will have a real edge over the majority and will create a bigger opportunity for success this year. Look at each of these trends and brainstorm how you could integrate them into your business.
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Here are some basic tips that will help you make building a home-based business a reality.
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If you broke your leg, would you go to a family doctor or an orthopedic surgeon? Well, your potential clients want niched experts as well. It's crucial to pick the niche that's best suited to your expertise.
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I guess it's just human nature to want others to like us and think well of us. We are brought up to conform, be polite and meet the expectations of the important or powerful people in our lives. We women are especially indoctrinated with these expectations and sometimes we feel we're letting people down if we say NO.
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Are you stumped on ways to grow your business? Check out these 10 ideas to give your business the growth spurt it needs.
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You know what they say about herding cats. (And if you don’t, go find about 8 or 9 felines and try to get them all in one place. As an entrepreneur, I often find myself in the unenviable position of herding cats, metaphorically speaking. And the cats I’m trying to herd are the new business projects that are constantly popping into my head.
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How can changing you perspective up your profits? It's easy.
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Are you ready for the thrills of seeking your own treasure chest of gold? Adventure-seekers, what you’ll need is a map that’ll help lead you to the riches. Play the “Show Me the Money Treasure Hunt Game” to map out how you’re going to find the key that will INCREASE YOUR INCOME and unlock your treasure chest of gold!
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You need a system for filtering out ideas and projects that may be good but won’t take you and your business where you want to go. What you need is an Investment vs. Benefit Filter, an IBF.
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Learn the ten deadly mistakes of solo entrepreneurs and how to avoid them.
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Do you have what it takes to be a Solo-Entrepreneur?
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It seems nowadays you cant spend five minutes browsing the Internet without finding at least a handful of websites offering to eliminate all of your life's problems for just a few dollars. And I predict there will be more of those sites popping all over the Internet, because getting started in information marketing is so darn easy and profitable. Here are the top 11 reasons you should start your own information marketing business.
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If you've tried your hand at building an Internet-based business but haven't yet reach the success you want, find out these 11 deadly mistakes and how to avoid them.
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There are many parts to building a successful entrepreneur business, but it first and foremost begins with understanding and remembering why you do the work you do. Then it's about clearly understanding who you serve, what their major struggles are, and how what you offer will make their life better. Finally, it's about reaching your ideal client in a way that has them eager to work with you. But most importantly, it's about managing your energy through it all.
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It is important to be able to recognize those areas in your business that may be causing your business to fall short. By recognizing where your business needs help you are better able to focus your attention in the proper places.
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Starting a business can take a lot of time, money, and energy. Since we don't want to completely start from scratch, we often want to copy (legally) other techniques, strategies or processes used by others. On the other hand, what makes your business thrive is your uniqueness. It is your passion and purpose combining with the unique way you develop and deliver your product or service that makes you attractive to customers.
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Have things slowed down for your business now that the warmer months are upon us and people are on vacation or otherwise taking a break from their usual routines? Use this downtime to focus on getting your business ready to rock for the fall by implementing some of these 8 ideas.
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Learn what it means to be a Solo Entrepreneur.
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According to the US Small Business Administration (SBA) there are approximately 17 million businesses with only one employee (the Owner, President, Principal or Founder) --whatever you call it, it�s JUST you.
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Writing a business plan for your Solo Entrepreneur business doesn't have to be a daunting project. If you can answer 10 straightforward questions about your business, you can be ready to go.
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Apply the framework that Risk is Always Reducible both in your own business and on the projects you do for your clients. Learn why.
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Becoming an solo entrepreneur can be an exciting prospect, but before you leap into any new business venture or quit that 9-5 ball and chain, pause and do some soul searching. If you are among the roughly 1 in 10 Americans who's serious about wanting to work for yourself, here are some questions to ask yourself and some books to get you thinking about the bigger picture and your life goals.
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Learn some of the obstacles that stop business owners from reaching their Biggest Vision.
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Opening a new business? Get a head start by heeding these time-tested success factors -- doubly important for the Solo Entrepreneur!
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A recent study of 29,000 business startups noted that 26,000 of them failed. Of those failures, 67% had no written business plan. Think that's a coincidence?
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Motivational speaker and award-winning salesman, Zig Ziglar once asked his audience: �Are you a wandering generality, or a meaningful specific?� As I listened to his question I began to think about how it applied to the way many people approach their business operations. Maybe you too have noticed a business owner or someone starting up a business that appears to be wandering in multiple, directions with no obvious business plan, goal, or strategy.
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Some people make decisions without any difficulty, while others struggle. Are you having trouble making a decision? Do you feel overwhelmed by all the choices you have, and aren't sure how to pick just one? No matter how big or small those decisions might be, here's how you can make good, strategic decisions.
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