entrepreneurial

7 Keys for Kicking Fear’s Butt and Starting a Business Now

by Paul Joseph July 21, 2011 Featured

Entrepreneurship is risky, right? That’s what we’re told. We’re told that a lot of people (most, by some estimates) fail at being a business owner and some lose everything. That’s pretty scary. But it’s the rest of the story that keeps entrepreneurs going and keeps us focused on business ownership over getting a job. The rest of the story is that most highly successful entrepreneurs did fail at one time, but they got back up and kept trying until their hard work and perseverance paid off. As with any great accomplishment, failure comes with the territory; however, it’s that failure that makes us better and stronger in the long run. Still, for a lot of entrepreneurs, especially those considering starting their first business, fear of failure is very real. It’s easy enough to say that failure is a great learning tool, but that doesn’t make it easy to face. It’s that fear of failure that will keep a lot of people from even trying to live their entrepreneurial dreams – and that’s sad. So what if there was a way to lesson your chances of failing at entrepreneurship? There are never any guarantees – no sure things – but are there steps you can take to increase your chances for success, thereby making the prospect of starting a business less scary? Definitely. If your fear is keeping you from taking the entrepreneurial plunge, follow these seven keys for getting past fear and taking action! 1. Follow your passion. People who build a business around something they’re passionate about are far less likely to let fear stand in the way. Passion can fuel your creativity and problem solving abilities, and it can make problems appear a lot smaller. If you’re doing what you love, there’s nothing to fear. Even if the business doesn’t succeed, the journey will add to your happiness, so you win either way. 2. Determine a need. One way to increase your chances for success is to make sure there is a need for the product or service you plan to offer. It might sound like a great idea in theory, but if there isn’t a market for it, you won’t make it. Doing proper research and determining that there is in fact a need for what you’re offering – and for a company like the one you’re building to offer it – will help ease your fears, because you’ll know you have a greater chance of making it. 3. Surround yourself with positive people. When you’re considering a new business, you probably have some doubts swimming around in your head, and being around the wrong people can fuel those doubts. Additionally, you might be thinking that you don’t have what it takes to succeed as a business owner. Through networking events or other business gatherings, get around other entrepreneurs who have made it. This will help you see that you don’t have to be someone special to be a successful entrepreneur, and it’s also great for making connections and getting advice that can help you in your business. More than anything, getting some positive feedback and encouragement from people who have been there can help to squash any fears or doubts you have. 4. Have a plan. Before you sit down and make a plan for your business (whether it’s a formal business plan or a one-page plan), you’ve got a million ideas, what-if scenarios, and to-do items rushing around your brain. That can be overwhelming for anyone, and it can lead to a fear that it’s too much for you to handle. Getting it all down on paper in the form of a plan of action will organize your thoughts and help you put them into a manageable form. It will also free your mind to imagine the possibilities rather than worry about what might happen. 5. Get an education. No, we’re not talking about going to college. Whether you have a university degree or not, it’s important to recognize that the most successful entrepreneurs never stop learning. Having knowledge about your industry and business in general will give you more confidence; and the more confident you are, the less fearful you are. So read everything you can get your hands on, attend workshops and seminars, and, again, get around others who can guide and mentor you. This is one of the best ways to replace fear with determination. 6. Immerse yourself. Get involved in your industry in every way you can. Join industry trade groups, subscribe to trade publications, and read every useful blog post you find. This is part of the ‘Get an education’ piece, but it’s more than that. In addition to learning about your business, you want to become your business. There’s a lot of talk about work-life balance, and that’s an important factor, but the fact is, most successful startups were launched by people who were a little (or a lot) obsessed with working on making their business thrive. And when you have that kind of focus, there’s not room for fear. 7. Keep your self-talk in check. For many of us, our own mind is our worst enemy. If you’re the type of person to fear the unknown or worry about failure scenarios, work on ways to turn those thoughts around. Give yourself a pep-talk a couple of times a day. Post positive messages on your bathroom mirror and around your home and office. Read inspiring books. Fill your mind with so much positive energy that there’s no room for anything else. One common characteristic of successful business owners is that they had an unwavering belief that they could (and would) succeed. Get into that frame of mind and stay there as often as possible, and you’ll deliver a huge blow to fear! What are you biggest fears about starting a business? How do you overcome them? We’d love to hear your thoughts in the comments, and on our Facebook page !

Tagged as: become an entrepreneur, business, creativity, entrepreneur, entrepreneurial, entrepreneurship, industry, mind, motivation, starting a business, story, thoughts

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Tekincube, Indore based Incubator to invest in early stage companies

by Paul Joseph July 5, 2011 Featured

IPS Academy, Indore has founded Tekincube in June 2011 to support early stage business ideas & inventions. Tekincube is an Incubation & seed fund firm that supports early stage ideas to develop prototypes and early stage startups to expand. Tekincube is operated under Center for Entrepreneurial Innovation & Leadership(CEIL) at IPS Academy, Indore. This centre aims to produce a number… (Visit Yourstory.in for full news, other content, and much more!)

Tagged as: centre, entrepreneurial, frontpage, yourstory-in

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Young Entrepreneur Interview: Jason O’Neill of Pencil Bugs

by Paul Joseph June 14, 2011 Featured

If you’re a kid or know a kid who is or wants to be an entrepreneur, you’ll get a lot of inspiration out of today’s interview. If you’re an adult entrepreneur, you’ll be surprised the lessons a 15-year-old can teach you! We recently caught up with Jason O’Neill, entrepreneur, author, and inventor and founder of Pencil Bugs . With all the talk of “today’s youth” not having drive and ambition, we’re always happy to see examples of just the opposite. And we see them all the time in young entrepreneurs like Jason. Like so many who are bitten by the entrepreneurial bug early, Jason didn’t come to entrepreneurship on purpose, but once he had a taste of it, he ran with it – in a big way. Read the interview below and see how a nine-year-old turned an idea into what promises to be a lifetime of entrepreneurial adventure! You started Pencil Bugs at the age of 9. Did you go into the venture with the intention of making a business out of it? How did it progress? I had no intention of starting a business at nine years old. It really happened by accident and by taking one step at a time. In 2005, my mom was making a product to sell at a craft fair. I wanted to help her and I thought that if I did, she would split the money with me. She said “no” and suggested I come up with my own idea. After a few trial and errors and drawing some designs on paper, Pencil Bugs were finally born. Pencil Bugs are colorful, bug-like hand crafted pencil toppers that fit on top of a #2 pencil and come packaged with their own Certificate of Authenticity. I made a small supply for the craft fair and they all sold out quickly. After that event, I knew it was a good idea and that I should keep going with it. What has been the biggest business challenge you’ve had to face, and how did you overcome it? The biggest challenge is that I am a kid. Some people think that I am just some kid making a little craft. They don’t always realize all that it takes or what goes into having a business. Probably the hardest thing is having my peers understand what I do. Has your age ever been an advantage? Aside from the fact, as I mentioned before, about not everyone understanding what you do, there are some legal issues that come with being a minor in business. But for the most part, being young has more advantages than disadvantages. We don’t have to really worry about earning a living yet. We can take things slowly since we have lots of time to be adults. We have the opportunities to learn and experience things that most schools don’t teach kids. Most people are really supportive of kids doing positive things, whatever that may be. And probably the biggest advantage of being a young entrepreneur is that there is less competition, although more and more kids are going this route. My entire business has been a learning experience for me, and everything that has happened is something that I probably wouldn’t have gotten to experience if I were just going to school. As a young entrepreneur, do you feel like you gave up any of what it means to be a kid? Would you do it all again? Having my business has never interfered with being a normal kid, and that is a very important thing for any young entrepreneur to remember. We have a whole lifetime of work ahead of us, so even if we start a business while we are young, it’s important to still be a kid first and have fun and do all the normal things kids get to do. My parents are really supportive of me and make sure I stay balanced. Because of my business though, I have had opportunities that most adults don’t get to experience. I don’t feel I have given up what it means to be a kid, and I am happy I got the chance to experience a whole different side of life. To answer your question of would I do it all again, my answer would have to be “I don’t know” because I don’t like to second guess what I have already done and I also don’t set definite plans for the future. I like to keep my options and opportunities open and see what happens. Last year, you published a book, Bitten by the Business Bug: Common Sense Tips for Business and Life from a Teen Entrepreneur . What has that experience been like? Do you plan to write other books? Publishing a book was a big milestone for my business. It was really exciting that after the book was released I was invited to speak at bigger events. It has opened up even more doors for me. I am working on another book with an environmental theme and have a children’s book about the Pencil Bugs characters that hopefully will be out next year. You are involved with giving back to the community and could even be considered a “social entrepreneur.” Why has that been a focus throughout all you’ve done? I wanted to help out others that may not have the opportunities that I had. People have to remember that there will always be people less fortunate than you. Since the beginning of my business, I donated to various children’s charities such as foster homes and hospitals. In addition to that, I have also had a fundraiser for the past three years for Rady Children’s Hospital in San Diego, California raising money to buy teddy bears for the kids. I have had great success with that and in 2009 I raised over $5,000, which all went to buying the bears. Making money is grea,t but it’s what you do with it that really counts. Even if a person can’t give a lot, I always say every little bit can make a big difference in someone else’s life. What three pieces of advice do you have for young entrepreneurs interested in starting their first business? The best advice I can give is: Try your ideas, because doing nothing guarantees nothing. Start out small, because there are lots of ways you can try a business without going into financial debt or taking big risks. Be willing to help others along the way, since you probably haven’t gotten to the place you are all by yourself. What are your plans for the future? Since I just finished my first year of high school, I am looking at a lot of different opportunities. I plan to continue my Pencil Bugs business although I will probably take it in a different direction with the actual products. I also have other books that I am working on as I mentioned before, and I really like the public speaking aspect so plan to do as much of that as possible. Aside from my business plans, I still want to go to college and get a computer science degree, with a focus on video game design. Of course, all that could change since I still have three years left of high school.

Tagged as: book, books, business, california, entrepreneur, entrepreneurial, ideas, money, plans

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The True Key to Business Survival

by Paul Joseph May 23, 2011 Featured

My grandfather was a farmer. Before that he was an airplane mechanic for the United States Army during World War II. Then he bought a little land, and started growing some cotton and soybeans. He bought more land, then some cattle, then some pigs, then got rid of the pigs. He got older and started an antiques business, running it from a shop he built on his land. He tried custom woodworking, which didn’t turn a profit, so he stopped that, stuck to antiques, and rented out the 1100 acres of farmland he had accumulated. The mark of his entrepreneurial success was his ability to do what must be done for business survival: he saw change not as a threat but as an opportunity. He took the opportunities he saw, tested them in action, stuck with the ones that worked and moved on from the ones that didn’t. Businesses must grow in order to survive; if you reach a level in your business in which you think you can sit back and coast, you’re heading toward failure. Coasting doesn’t work; growth must happen. And the key to business growth is change. Growth doesn’t always mean growth in numbers (more customers, bigger profit margins). Growth can mean new ventures, diversification, new markets, expanded products, upgraded technology, or new services. All of those elements of growth require change, and when applied properly will result in growth in numbers. But what’s the gut reaction many of us have when faced with change? Defensiveness. Fear. An instinctive urge to protect the way things are or have been. It’s self-protective, and it’s often a subconscious response, but it can result in a business atmosphere that stifles change rather than encourages it. Are you a small business owner, an entrepreneur, a freelancer? How open are you to change? How do you view change? Do you shy away from new ideas because they aren’t your own? Do you require an inordinate amount of research and data before you will consider a new idea? Do you come up with obstacles to implementing new ideas? Do you automatically assume old ways are better? Do you shut down brainstorming when it gets into territory you haven’t anticipated? Do you assume a new idea is a bad idea? Do you reject ideas in theory or are you willing to test ideas in action? If you make change a difficult process, then you make growth difficult to achieve. And if you make it difficult for your business to grow, you make it difficult for your business to survive. We don’t live in abnormal times; change has always been a part of the landscape. Those who can view change as normal, a necessary and expected part of business, rather than as a crisis, can seize opportunities, make the most of them, and profit. Those who can’t will take too long to be convinced that they need change and will miss the opportunities for growth. Annie Mueller enjoys creating a personal yet professional voice to render complex topics understandable. Her passion is helping home, small, and micro businesses succeed. Read more about Annie here .

Tagged as: business, entrepreneur, entrepreneurial, entrepreneurship, small-business, success, united, united-states, your-business

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5 Daily Activities that Will Give You and Your Business a Boost

by Paul Joseph May 17, 2011 Featured

If you’re like most entrepreneurs, you have a ton on your plate at all times. Running and trying to grow a business is not easy work, and it often leaves room for little else. The danger in that is when we get so caught up in all we have to do that we lose sight of the big picture. It can be easy to fall into a pattern where you’re just putting out fires all day, and before you know it, you’ve created a job for yourself and forgotten all about making your business prosper, as you dreamed about in the beginning. If any of this sounds familiar, first, you’re not alone, and second, take heart because there are some very easy, quick steps you can take every day to keep you on track and looking ahead. If you make a commitment to yourself and your business to do these five things each day, it will become a habit, and you’ll see a positive, lasting change in your business. 1. Make a sale – Many business owners, started out as the sole sales person for their company. When that was the case, you had no choice but to get out (or stay in, depending on your business) and sell. But as you gain clients a couple of things can happen: your focus turns to “running the business” rather than acquiring new business, and you hire a sales person or sales team to bring in business. Taking the time to work on closing just one sale a day will not only help your business, but you’ll feel the excitement for your business that might be fading as you focus on backend operations. 2. Take a look ahead – If you’ve been sucked into the cycle of performing work that keeps you busy all day but doesn’t feed your entrepreneurial spirit, you might have stopped dreaming and planning for the future. Take just 15 to 20 minutes each day to think about what the future could hold for your company. Daydream about where you want the company to go, and how you’re going to get there. You’ll definitely want to take notes and implement your plans, but for this short time, focus on your vision for your company, rather than tasks. 3. Network – It is very common for an entrepreneur to get so caught up in running his or her business that they end up isolating themselves. You might be around employees and customers all day, but it’s not the same as getting out among other business owners. Join one or more networking groups and commit to just a couple of networking events a month – unless your schedule allows for more. Building a strong network is critical for your company’s growth, and it will help you feel more plugged into the world, rather than just your business. 4. Work on your marketing – Even if you have someone running your marketing campaigns for you, get involved at some level. The creative process of getting the word out about your business can revive the fire you had when you started out. Plus, you’ll be growing your business at the same time. 5. Connect with your customers – Getting in touch with current customers or clients, even very briefly, is a great way to keep you focused on what really matters. It will also help to strengthen those relationships and give you information about the market. Not only that, but like networking, it gets you to connect with the outside world. The five suggestions above shouldn’t take you very long each day, and they can make a significant difference in your business – and your state of mind. What other suggestions do you have for keeping your entrepreneurial spirit strong? Share with the community in the comments section!

Tagged as: business-ideas, entrepreneur, entrepreneurial, entrepreneurship, marketing, motivation

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Unbxd: Easy search on Ecommerce sites

by Paul Joseph April 18, 2011 Featured

Pavan Sondur started his entrepreneurial journey after quitting his high paying job at NetApp. At Unbxd, he and co-founder Prashant work on providing a clutter free search interface for e-commerce sites. The search interface, “Unbxd Human Search”, as they call it, acts as a virtual sales person on e-commerce sites. The search offers auto-complete options and the search adapts itself depending on… (Visit Yourstory.in for full news, other content, and much more!)

Tagged as: content, entrepreneurial, frontpage, other-content, search, yourstory-in

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Ego, Passion And Expertise: How To Find Balance And Win Clients

by Paul Joseph April 6, 2011 Featured

I started freelance writing in May of 2008 with no professional portfolio or credentials to speak of. All I had in my freelancer’s toolkit were decent writing skills, a love of the written word, and a burning passion to make it as a self-employed professional. Yet within four months, I had built up a strong enough client base to quit my full-time job and embrace my fantasy lifestyle: working when I wanted, working where I wanted, and throwing the word “commute” out of my vocabulary. It wasn’t long after that I started to earn as much freelancing as I did as a full-timer. Don’t get me wrong – I’ve had my share of lean seasons, but they have trended as the exception, not the rule. Initially, I chalked the success up to a healthy dose of luck. What else could explain a novice freelancer actually getting good paying (and steady!) gigs? But the more I connected with the true earning superstars of the freelance writing community, the more I realized that my success came from consistently utilizing two universal business-winning strategies when pursuing clients. These two business-winning strategies have served me very well in both my freelance writing work and my entrepreneurial endeavors. Interestingly enough, I’ve been able to identify them as key success indicators (and failure indicators when not implemented) in friends who’ve gone down both tracks. I encourage you to examine how you utilize each of these strategies in your own niche or version of entrepreneurship, whether you’re a blogger, a product designer, or an information marketer like E-J’s own Dr. Mani . Communicate Your Passion Early in my freelancing career, I had the opportunity to pick the brain of a successful and established writer and blogger. I’ll never forget their biggest piece of advice: “Treat your service like a business, not a hobby. Too many new writers don’t take their work seriously and they never get anywhere.” This writer meant what they said, and I could tell from the tone of their voice that they took their work very seriously. In fact, a little too seriously. When they spoke about writing, there was no passion or love of the work in their voice. It was all just business. A few months later, when we spoke again, they confided that their clientele had begun to slip and they were struggling to win new gigs. From where I sat, it was no surprise why – with a job market flooded by eager scribes, clients were opting for individuals who communicated enthusiasm for potential opportunities, not a matter-of-fact coldness. It is easy to confuse being businesslike with being flat, monotone, and almost somber. But handling your service or product in a businesslike manner doesn’t mean putting a lid on your passion and enthusiasm for what you do. In fact, communicating a love for what you do is an essential business-winning strategy. When a potential client sees you’re fully engaged in your business and enthusiastic about it – whether you freelance write or sell eco-friendly toilets – it sends a message to them that you value quality, high standards, and successful engagements. Now, passion and enthusiasm doesn’t mean going bonkers with overly gregarious speech or wild body language (think Tom Cruise on Oprah’s couch). But it does mean letting the client know, often in subtle way, that you believe in your product or service and find personal satisfaction in at least some element of it. Think about your current sales pitch, long copy, or gig-responses letter… does your language communicate to the potential client your passion for your work? Focus On The Client’s Needs One of the biggest mistakes I used to make when writing cover letters for writing opportunities was to spend four paragraphs talking about me . I’d mention various awards or accolades I’d earned, exclusive academic societies I was a member of, areas I specialized in…on and on and on, anything I thought would make me stand out from the 800 other responses the client was getting. It wouldn’t be until the final few lines that I would mention anything about the client’s project. I didn’t win many gigs this way. Why? Because the only thing a client cares more about than your credentials is what you can do for them . Markets for an entrepreneur’s product feel the same way… “yeah, yeah, enough about you already…but what can you and your product do for me?” I became aware of this problem when I asked a friend to review what I thought was a particularly impressive gig pitch. “Um, Nacie…” she started slowly, “This is nice…but, who are you writing this for – your ego, or the potential client?” Ouch. My blunder is one that is often repeated by other newbies in a variety of entrepreneurship situations – when you are feeling insecure about your platform, portfolio, or experience, the immediate response is to overcompensate. OK, and there are a few established pros that just want to brag about how wonderful they are. But mostly, I’ve noticed this to be a rookie mistake: maybe they won’t notice I have very few writing clients if I talk a lot about other achievements? Maybe my potential sales demographic will think I’m qualified to sell this product if I spend 1,000 words talking about my story… Savvy freelance writers (and entrepreneurs) know that one of the best ways to win business is to share just one or two words about yourself – your ultimate highlight reel – before turning the focus on the client’s needs and how you can meet and exceed them: Yes, I did have two stories published in Chicken Soup for the Soul…but what I’d really like to discuss today is this fantastic opportunity. My vision was… Think (again) about your current sales pitch, long copy, or gig-responses letter… How much time are you spending talking about yourself versus the potential client and their needs? From Freelancing To Entrepreneurship When I first started my freelancing career years ago, I never imagined it would lead me to where I am today: blogger, soon-to-be-published author, and entrepreneur. Freelance writing gently taught me the basics of business, including what it takes to win business and keep business. These two major strategies, simple as they may appear, have served me very well in a variety of business situations, from getting writing gigs to selling my book proposal to a major international publisher. So as you think about building or continuing to build your own empire, consider this: passion, enthusiasm, and a genuine interest in providing a service will get you farther than you think, even when you’ve got a blank resume. Here’s to your Entrepreneur’s Journey! Nacie Get your bonus copy of my book “How To Start An Internet Business & Make Your First $1,000 Online” Download Here

Tagged as: entrepreneurial, internet, language, online, potential

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Urvesh Vasani , Six Inch Nails Group, a 15 year old entrepreneur in heavy metal and publishing

by Paul Joseph April 4, 2011 Featured

Heavy Metal music and Publishing make for strange bedfellows. Stranger still if that is the focus of your entrepreneurial venture in a place like India. But the cherry on the cake is that this Heavy metal cum publishing venture is owned and founded by a 13 year old. Urvesh Vasani conceived and founded the Six Inch Nails Group in 2009. Despite his youthful status Urvesh has a clear defined… (Visit Yourstory.in for full news, other content, and much more!)

Tagged as: content, entrepreneurial, frontpage, other-content

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Daring the first step

by Paul Joseph April 4, 2011 Featured

Candid first person impressions of a world traveller by Benoit de Monspey, on a world tour to foster entrepreneurship — Part 4 Today’s article is totally due to an extensive discussion I have had with my friend Joji during these last couple of days. He was questioning the number of people who are currently in India involved in the entrepreneurial ecosystem, especially students, and how many… (Visit Yourstory.in for full news, other content, and much more!)

Tagged as: content, entrepreneurial, frontpage, india, number, other-content

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Triggr is here to trigger your ideas about technology and design

by Paul Joseph March 27, 2011 Featured

Aristo Bhupal (@aristo), Arun Pattnaik (@arunpattnaik), Digbijoy Shukla (@digbijoy), Himanshu Khanna (@sparklinguy), Indus Khaitan (@1ndus), Pooja Kashyap (@poojakashyap), Prashant Singh (@pacificleo) are coming together to fill a gap about events in the entrepreneurial ecosystem. Sensing that conversations around design and technology do not happen very often, they have initiated Triggr, a… (Visit Yourstory.in for full news, other content, and much more!)

Tagged as: entrepreneurial, other-content, yourstory-in

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