What's Stopping You From Starting A Business?

What's Stopping You From Starting A Business?
More and more people are starting a business than ever
before. But many more people than this are held back by two
factors:

A) the employee mentality, and B) most people have not
developed their ability to generate business ideas. Let us
deal with each one in turn.

A) There are many reasons why an employee should want to
start a business but three are worth thinking about.

i) The difference between having your own business and
having a job is the difference between buying a house and
renting a house. If you rent a house you have all the
satisfaction of living in a house, but at the end of the
day you own nothing and can be evicted as quickly as you
became a tenant.

A job is just like a renting a house. However, your own
business depends on you, because you are its owner, and at
the end of the day it may leave you with considerable
personal wealth.

ii) You are a unique person. The vast majority of employers
do not recognise your uniqueness. It is said the universe
is twenty billion years old and will last at least as long
again. In all the time to come there will never be another
person just like you. You are a unique creation.

How does an employer treat a unique creation like you? They
make you fit into a box where the walls are your job
description. Many people before you had to fit into the
same box and many people after you will have to do the
same. You were not created to spend your life following
orders, doing repetitive tasks and being just like other
people.

In contrast running your own business offers you the
opportunity to make unique achievements, to build a unique
business, which mirrors your personality, and to stamp the
world with your mark.

iii) If you do not want to start a business to create
personal wealth or to satisfy your ego then start a
business to help other people.

Every time a person offers others a new product or service,
he or she increases their freedom of choice. There is not a
better way to help other people than by giving them more
freedom. With the extra freedom, the jobs created and extra
taxes paid, it could be argued that founding a successful
business is the most socially useful thing anyone can do.

Instead of choosing between i), ii) or iii) as a reason for
starting a business, all three become interlocked and are a
consequence of a successful business.

B) Most people unfamiliar with starting a business,
struggle to generate business ideas and that's where
subscription to this web site come in. The ideas contained
in the articles on this site will help you to generate
ideas for yourself.

The only difference between people that are successful and
those that aren't is that they took action. Action is the
key to success, without action, your idea will never be
anything more than an electrical impulse locked away in
your brain.

----------------------------------------------------
Nick James is a UK based direct marketer and product
developer. During the last 5 years Nick has sold in excess
of £1.6 Million Pounds worth of products and sevices
online. Subscribe to his Free Tip Of The Week email at:
http://www.Nick-James.com

5 Top Tips For Raising Investment In Your Company

5 Top Tips For Raising Investment In Your Company
If you want to grow your company then one of the best
options is to raise more finance to support that growth.
However, raising finance doesn't come without risks. You
need to make sure you know what you're getting into and,
more importantly, how to get out.

The biggest challenge most business owners face is how to
even get started on raising finance. So here are 5 top tips
for raising investment in your company.

1. Have a great business plan

Although it's true that many investors don't even read the
whole business plan this doesn't mean you can ignore it. A
great business plan is an essential part of your business
and going through the process ensures that you think about
all the different elements of how your business is going to
work. It's no good having great expectations on sales if
you haven't thought through how you're going to market the
business to generate the leads to convert to sales. A
business plan gives you focus and allows you to cut away
those elements of the business that obviously don't make
sense.

An investor will be looking to the business plan to show
that you have considered, researched and planned your
business. You don't have to produce reams of paper but you
do need to show you've given serious consideration to all
the critical factors in your business and market. And make
sure you know what's in your plan.

The plan alone may not be enough to raise the money but
it'll be a whole lot harder without it.

2. Be realistic in your forecasts

There's nothing worse for an investor than scratching the
surface of a prospective investee's financial forecasts and
finding there's nothing but hot air, hyperbole and broad
assumption.

Every investor has seen plans that say something along the
lines of "if we can get just 1% of this £8bn market,
then we'll have revenues of £80m". And those plans
and forecasts have a tendency to go straight to that great
shredder in the sky. Be realistic and show that you have
some valid justification for how you're going to reach the
numbers you're forecasting.

If you have marketing spend (and you should) then show how
that translates into sales leads and how those get
converted into sales. Create financial models that underpin
the numbers. If you're expecting to convert 75% of all
prospects then you had better have a fantastic
justification for how and why. Most businesses simply don't
achieve this sort of conversion rate and you will lose
credibility very quickly with this type of assumption.

The reality of business is that even with realistic
forecasts, sales usually take much longer to be achieved
and costs are usually much higher than expected. An
experienced investor will look at your forecast and check
that they still work with half the sales and twice the
costs to check the risk in the business.

If you're going to build your forecasts yourself then
educate yourself in the best approaches and if you're going
to get others to help then make sure they have the right
knowledge and experience.

A solid forecast won't guarantee investment but a shaky one
will receive a definite "no".

3. Show the investor what return they can expect

The best investors only invest when they have a high
certainty of the outcome. Successful investing is about
knowing what return you expect to make. Anything else is
speculation and gambling. When an investor puts money into
a business they want to know what they're going to get and
when.

As part of your plan and forecast, you need to build in a
realistic and achievable exit strategy. This allows the
investor to get their money out, with a decent return on it.

Many investors, private equity firms and VCs will invest in
a portfolio of companies. They go in with the expectation
that each one will succeed but they know that overall some
will and some won't. The trick is to ensure that the gains
on the good ones more than outweigh the losses on the bad
ones. To do this they will often be looking for a return of
between 3 and 5 times their investment within 3 to 5 years.
Different investors have different criteria but this works
as a general rule of thumb.

The return on the investment for the investor is really
determined by 2 things. How much they put in and how much
they get out. That's why investors will push for more
equity for their investment, as it increases their
potential return on exit.

If you can show a decent return, in a reasonable period, to
the investor then they'll be more inclined to back you. If
you can't then they'll take their money elsewhere.

4. Practice your presentation

It's said that investors invest in people and this is most
obvious when a business owner presents their business case
to prospective investors. You may have the greatest
business proposal and CV in the world but if you can't
string 5 words together in a sentence then an investor will
lose a lot of faith in you.

If you're not used to presenting then it can be scary. If
you're not used to the tough line of questioning that can
sometimes come from investors then that can be daunting.
And if you haven't prepared then you've effectively blown
it before you've even walked through the door.

Investors are not ogres, although some are quite curt and
don't like wasting their time or concentration. So you need
to prepare carefully, anticipate and address the areas of
potential concern, listen to their questions and answer
them clearly, succinctly and honestly. If you do all this
then you'll have a much stronger chance of succeeding in
raising investment.

If you prepare and practice and build your own confidence
in what you're presenting then you stand a much greater
chance of being financed. If you try to wing it and expect
to convince investors with the sheer force of your
personality, charm and cheesy sales techniques then a used
car lot awaits.

5. Know what you want and what you're prepared to give

This may sound obvious but it's the cornerstone of any
negotiation. And this is a negotiation from the very
beginning. You need to be very clear about what you want
and be willing to walk away from the table if you can't get
it. You also need to understand that you won't get
something for nothing. And you need to know what you're
prepared to give, which could include an equity share in
your business; security on your business assets or your own
assets; a commitment to pay high interest rates on loaned
money; and covenants that will obligate you to frequent
detailed reporting and the potential to have all your
assets and your company taken away from you.

Now if all that hasn't scared you off yet, then you also
need to be aware that an investor is probably going to be
looking to get more than you are initially prepared to give
and you'll end up in some element of negotiation.

You need to understand what the investment will do for your
business, and what will happen to the business without it,
and decide whether the sacrifice of equity is worth the
investment.

You'll also need to consider what it will really mean if
the equity given for the investment hands ultimate control
of the business to the investor. That's a serious step and
needs to be taken very carefully.

Ultimately, although you want to negotiate, you need to be
realistic about what you are asking for. In proposing an
equity share for an investment you'll be assigning a value
to your business. And that value will be challenged, so be
prepared to back it up. Investors get very tired of
business owners trying to convince them that their start up
company with no sales warrants £1m of investment for
10% of the business. It's unlikely you'll be able to
justify a £10m valuation on an empty space, a few
bits of paper and a big dollop of enthusiasm.

If you know your desired outcomes and you can justify them,
you'll be in a better position to negotiate. If you're
walking around in a dream then you're likely to get a rude
awakening.

If you're not sure on any of these areas, then make sure
you get some professional help. It's a lot better to invest
some time, effort and money up front to get the right
approach than to waste many months and even more money
learning the hard way. Think about what it costs you
personally for each month that your business growth is
inhibited. When you look at it this way, getting the right
support at an early stage can save you a lot more time,
money and effort in the long run.

----------------------------------------------------
Andy Warren is a chartered accountant, successful CFO and
entrepreneur with extensive experience in M&A, Corporate
Finance, Business Growth and Exit Strategies. He is the
Managing Director of Marshall Keen Ltd
http://www.marshallkeen.com a company specialising in CFO
services for early stage tech businesses. Marshall Keen
also provides support for companies seeking to raise
finance through Funding Decisions
http://www.fundingdecisions.com

Dr. Robin's "10 ways to empower your communication"

Dr. Robin's "10 ways to empower your communication"
This article comes from years of practice and common sense.
It has been put together from 52 years of life training and
37 years of networking and tips I have received from
others. The biggest help took many years to sink in but
came from my father, "put your mind in gear before your put
your mouth in gear." Thanks Dad.They do work and they will
help you if you not only read them and place them into your
head, but make them part of your heart.

There is so much to know about conversation that anyone,
even I, could ever realize. You can go though watching talk
shows; radio programs; clubs dedicated to public speaking;
ordinary conversations; certain rules still apply when it
comes to interaction through words. It may sound tedious, I
know, but even though it's your mouth that's doing the
work, your brain works twice as hard to churn out a lot of
things you know. So what better way to start learning to be
an effective communication is to know the very person
closest to you: yourself.

1. What you know. Education is all about learning the
basics, but to be an effective speaker is to practice what
you've learned. My stint as guest at every Toastmasters'
meeting I go to taught me that we all have our limitations,
but that doesn't mean we can't learn to keep up and share
what we know.

2. Listening. It's just as important as asking questions.
Sometimes listening to the sound of our own voice can teach
us to be a little bit confident with ourselves and to say
the things we believe in with conviction.

3. Humility We all make mistakes, and sometimes we tend to
slur our words, stutter, and probably mispronounce certain
words even though we know what it means, but rarely use it
only to impress listeners. So in a group, don't be afraid
to ask if you're saying the right word properly and if
they're unsure about it then make a joke out of it. I
promise you it'll make everyone laugh and you can get away
with it as well.

4. Eye Contact There's a lot to say when it comes to
directing your attention to your audience with an
eye-catching gaze. It's important that you keep your focus
when talking to a large group in a meeting or a gathering,
even though he or she may be gorgeous.

5. Kidding around A little bit of humor can do wonders to
lift the tension, or worse boredom when making your speech.
That way, you'll get the attention of the majority of the
crowd and they'll feel that you're just as approachable,
and as human to those who listen.

6. Be like the rest of them Interaction is all about
mingling with other people. You'll get a lot of ideas, as
well as knowing what people make them as they are.

7. Me, Myself, and I Admit it, there are times you sing to
yourself in the shower. I know I do! Listening to the sound
of your own voice while you practice your speech in front
of a mirror can help correct the stress areas of your
pitch. And while you're at it you can spruce up as well.

8. With a smile A smile says it all much like eye contact.
There's no point on grimacing or frowning in a meeting or a
gathering, unless it's a wake. You can better express what
you're saying when you smile.

9. A Role Model There must be at least one or two people in
your life you have listened to when they're at a public
gathering or maybe at church. Sure they read their lines,
but taking a mental note of how they emphasize what they
say can help you once you take center stage.

10. Preparation Make the best out of preparation rather
than just scribbling notes and often in a hurried panic.
Some people like to write things down on index cards, while
other resort to being a little more silly as they look at
their notes written on the palm of their hand (not for
clammy hands, please). Just be comfortable with what you
know since you enjoy your work.

These suggestions are written so that any one can under
stand them, but I've learned to empower myself when it
comes to public or private speaking and it never hurts to
be with people to listen how they make conversations and
meetings far more enjoyable as well as educational.

Learn to listen like a teddy bear, with ears wide open and
a mouth closed tight. Learn to forgive like a teddy bear,
with an open heart, not caring who is right. Learn to love
like a teddy bear, with arms open and imperfect eyesight..
Do not ask for your life's load lightened but for courage
to endure. Do not ask for fulfillment in all your life. Do
not ask for perfection in all you do but for the wisdom not
to repeat mistakes. Finally, do not ask for more before
saying "Thank you", for what you have already received. If
you are looking for somebody to blame, look in the mirror.
There is no challenge that can not be met and dream that
can not be achieved.

----------------------------------------------------
"Dr. Robin", the well known MLM Radio personality is and
has built his "honorary" doctorate in the Network Marketing
world and has had experience in numerous other network
marketing companies. He is a nationally recognized expert
in the network marketing business.Dr. Robin is the current
host of the radio show, Gorilla Talk Radio presents
"Networking with the Blindguy" with up to 3.8 million
listeners.http://gorillatalkradio.com

Too tough for you? Just Right for Me!

Too tough for you? Just Right for Me!
Have you recently been bombarded by all the talk about
recession, hard times and all the rest of the "Gloom and
Doom" speak going around out there? Me too, and frankly
I'm laughing at it. I've been a sales professional for
over twenty years, and I'm here to tell you what's
happening right now is no different from what has occurred
at least half a dozen times before in my personal career.
When things get tough, certain members of every industry go
down with the "economic" ship. The weak fail and the
strong survive. The weak usually include start-ups,
because most new businesses are undercapitalized to begin
with and without an established customer base the start-ups
can't weather the storm.

For those of us making a living selling a product or
service this can be very disconcerting, especially when
prospects tell you they are not spending any money because
they are simply trying to survive. Again, I've been
through this before and I want you to know that the current
situation is - in fact - a tremendous opportunity for you
to rise to the top of your field, regardless of what you
are selling!

Here's the thing - what you are seeing now is just a cycle.
As some of your prospects fail, the survivors are getting
whatever market share the failures left behind. The
survivors are getting stronger, and they are buying
products and services - right now - that make them operate
leaner and with better efficiency. When things come around
again, these customers will continue to be strong, and a
whole new group of start-ups will enter the game, spending
money like crazy on products and services to get their new
businesses rolling. A few years later the same thing will
happen all over again! You can't fight it, so embrace it
and get your market share of the business that's out there!

Look around at the other people currently selling your
product or service - what are they saying? 80% are
complaining about their customers going out of business,
reducing orders, etc. They're telling you they are making
less money than last year. Some are looking for a new job.
Let them! Here's how I feel - "Too tough for you? Just
right for me!" Don't you get it? The same things that are
happening to your customers are happening to you and your
peers as well! Some salespeople are shutting down,
unprepared to fight the battle or weather the storm, while
others are taking full advantage of the situation and
reeling in the market share the others are leaving behind.
Really, all you have to do to succeed is get tough, get
organized, stay positive and enthusiastic, and stay focused
on your game plan. You may have to pick up the phone a few
more times than you'd like, or walk in a few more doors
than you would prefer to, but so what? Success is worth
it. So next time you hear a fellow salesperson whining
about how tough it is, tell them "Too tough for you? Just
right for me" and then get out there and secure your future.

I hope you choose success - it's just more fun than failure.

----------------------------------------------------
Don Mastrangelo is the author of the #1 Best-Seller "Ready,
Set, Sell! - How to Get From ZERO to Sales HERO in 90
Days". He can be reached at http://www.DonMastrangelo.com
, mailto:info@donmastrangelo.com or (800) 688-0999.

How to develop integrity as a leader

How to develop integrity as a leader
Every once in a while you run across a book or find a book
that really affects you. I found this in Henry Cloud's book
'Integrity', so much so that I taught a whole ethics class
based on it. That class was exceptionally well received and
many of the students decided to write a letter to Dr. Cloud
thanking him for his insights. Here is a summary of what a
reader can find and learn about Integrity in Henry Cloud's
book.

Henry Cloud discusses the many challenges posed to
institutions today. Strength is a condition precedent to
achieving goals. Oddly enough, many people hit performance
ceilings which are below their aptitude. Occasionally,
employees succeed and fail almost simultaneously. Despite
the travail, it is important to establish trust through
having heart and real passion for the job. Tough problems
are resolved in an organization by focusing on them
dispassionately and applying an interactive and disciplined
approach consistently until successful resolution is
reached.

Avoidance can be very destructive because opportunities do
surface. A disciplined approach will provide the necessary
focus to seize opportunities when they arise and resolve
problems constructively with a minimum of organizational
tension. This is also very supplemental with the
Performance IQ® system used in my company to assess the
aptitude of performance across the workforce of the
organization. Based on that knowledge, interventions, like
coaching and training, can be planned, targeted towards one
or more of the twelve drivers we assess and then
implemented utilizing modern learning methods.

Dr. Cloud makes it clear that "integrity," as he uses the
term, is much more than mere "honesty." Throughout the book
he separates and illuminates six essential qualities and
character traits that lead to success in the business
world. He describes the desirable character that . . .

1) Creates and maintains trust
2) Is able to see and face reality
3) Works in a way that brings results
4) Embraces negative realities and solves them
5) Causes growth and increase
6) Achieves transcendence and meaning in life

The six dimensions are well sequenced and are interrelated.
Ignorance or failure of one dimension can lead to overall
nonperformance. The "gap" in a person who lacks the
wholeness of character is bound to result in failure in
three specific ways: (page 38):

1. Hitting performance ceiling that is much lower than ones
aptitude
2. Hitting an obstacle or situation that derails you
3. Reaching great success only to self destruct and lose it
all.

"You will see how these character traits supersede gifts,
talents and ability, and how the ones who have them succeed
and the ones who don't, ultimately fail." (Page xii) In
talking with a wealthy businessman who is a personal
friend, Dr. Cloud heard his friend comment on how he
chooses to invest his money in businesses.

"I did not invest in those businesses. I invested in the
people. I never invest in businesses I don't know anything
about, but I will invest in a person. If I know their
character, their history, how they operate, what kind of
judgment they have, what kinds of risks are acceptable to
them, how they execute, and things like that, and I know
them well, I will invest. But I don't buy businesses I
don't know anything about." (Pages 29-30)

Early in this book, Dr. Cloud gives us his expanded
definition of integrity as it applies to the business world:

"And, the origins of the word we can see in the French and
Latin meanings of intact, integrate, integral and entirety.
The concept means that the `whole thing is working well,
undivided, integrated, intact and uncorrupted.' When we are
talking about integrity, we are talking about being a whole
person, an integrated person, with all of our different
parts working well and delivering the functions that they
were designed to deliver. It is about wholeness and
effectiveness as people. It truly is `running on all
cylinders.'" (Page 31)

The author offers a very clear and helpful metaphor for the
type of impact that this kind of person of integrity has on
the lives of those with whom she or he interacts. Dr. Cloud
posits that each of us, as we move through the waters of
life, leave behind a wake, like that left by boats as they
pass through the ocean. There are two aspects to the "wake"
that we leave behind - the tasks we have performed and the
relationships we have built. "We leave a wake of people
behind us as we move though their lives and their
organizations. . .

So, we must ask ourselves, `What does that wake look like?'
Are a lot of people out there water-skiing on the wake,
smiling, having a great time for our having `moved through
their lives'? Or are they are there bobbing for air,
bleeding, and left wounded as shark bait?" (Page 18)

In Building Trust Through Connections, Cloud offers:

"The human heart will seek to be known, understood, and
connected with above all else. If you do not connect, the
ones you care about will find someone who will." (Page 70)

Applying this principle alone in most companies today would
dramatically reduce the costs of employee theft, turnover,
recruiting, retention and succession planning. In the
chapter `In touch with reality" Dr Cloud starts with the
story of the CEO of a dog food company who obstinately
tries all possible ways to increase the sales of the
company's product except in finding out what his ultimate
customers really want. When finally explained to the CEO by
an employee "Sir... the dogs don't like it", reality
finally dawns. Dogs bark, but reality bites!

In sharing What People In Touch Look like, Dr. Cloud
recounts an incident that happened on a retreat for CEO's,
when a young "superstar" was given an opportunity to
receive feedback from a more senior CEO.

"One of the more experienced guys looked up and said, `Want
some feedback?' He said it in a way that left you wondering
whether he was going to give sage advice or rail at the
young man for being out to lunch in some way. There was
just no way to tell from his poker face. But I will never
forget the young superstar's immediate response: `By all
means. Give me a gift.' He saw the feedback, whatever it
was, as a gift because it could give him some reality that
he did not know. I remember thinking, `We will be watching
this guy's accomplishments for a long time.'" (Page 116)

Cloud then ratchets up the significance of this insight by
suggesting a challenging way for us to put this principle
of inviting feedback to a practical test: "If you want to
know your comfort level in this matter, think of going to
the people you work with or are in close personal
relationships with and give them 100 percent permission to
be totally honest with you in answering the question: `What
is it like to be on the other end of me?'" (Pages 116-117)

Most business leaders I know will find something of value
in this book that they can internalize and begin to apply
immediately - for their own benefit and for the benefit of
all those who are "surfing their wake."

----------------------------------------------------
Axel Meierhoefer is a published author, educator, coach,
consultant, and the founder of Axel Meierhoefer Consulting
LLC (AMC LLC). His motto is" Helping others help themselves
achieve success". If you would like to be notified of
future articles go to http://www.meierhoefer.net/blog or
send an email to AM@Meierhoefer.net

Is Your CEO Camera-Ready?

Is Your CEO Camera-Ready?
"Well, I guess it's time for my root canal."

That was the most memorable thing that Ed would say to me
all day. Ed (not his real name) was the number-two
executive at a major U.S. financial firm, and first in line
to succeed the soon-to-retire CEO. He had been through the
wringer with a number of media trainers, and it showed.

We had been introduced, and Ed just didn't want to be with
me. There was a seemingly permanent scowl on his beefy,
reddish face. He had a perfectly pressed shirt and great
gold cufflinks, but his collar was a couple of sizes too
tight.

When it came time for our mock interview, Ed spoke to me in
a laconic monotone, scattered with eminently quotable
moments like: "yes," "no," and "I dunno, about six or seven
people." It made me wonder how he had gotten as far as he
did. The fact is executive suites of the world are mostly
populated with middle-aged men and women not unlike Ed. In
an era of 24-hour business news, it's these individuals -
many of whom have had little to no media exposure for most
of their careers - who are increasingly called on to be the
public face of their company.

Contrary to what some corporate watchdogs would argue, I've
known the vast majority of these people to be bright,
ethical, and highly capable. But media communications is
just not their bailiwick. They do not teach these skills in
business school.

And, so, admired as they are in the country club - and
feared as they might be in the boardroom - these captains
of industry tremble at the prospect of spending a few
minutes with a wet-behind-the-ears reporter who is often
barely old enough to work for them. As a result, forays
into the realm of interviews become, for these type-A
personalities, remarkably type-B.

They speak in sentence fragments that have to be spliced
together, electronically or in print, to be even marginally
usable. (No wonder executives often feel misquoted or taken
out of context.)

They listen, sometimes against their better judgment, when
legal advisers tell them to think of media appearances as
if they were depositions. They are instructed to say as
little as possible, to fill in the gaps with plain vanilla
messaging, and to approach every reporter as an adversary.
Of course, with most reporters, this advice has an opposite
effect of what the executive wants.

An effective relationship with journalists - be they print
reporters, TV broadcasters, or even bloggers - has nothing
to do with creating an adversary. It has everything to do
with correctly understanding journalists and their needs.

The supposition that reporters are always looking for their
subjects to simply "answer the question" is fundamentally
wrong. Sure, sometimes they need those answers. But at
their core, good reporters aren't just looking for "yes" or
"no."

They are looking for a narrative. They long for the
unexpected. Their pulse quickens at information that
surprises them, intrigues them, moves them. They want to
satiate the basic curiosities that led them to become
journalists in the first place.

It's why the definition of news is so often summed up with
the phrase "man bites dog." It's no accident that Don
Hewitt, the creator of 60 Minutes, titled his memoir, Tell
Me a Story.

This imbalance between the demand for good narrative and
the limited supply of compelling material is a big reason
why much of today's news cycle appears so tediously
dysfunctional. It's why what you see, read, and hear often
seems sensationalistic on the one hand; repetitive, trite,
and boring on the other.

But therein lies an opportunity. The people who know the
secrets to filling these voids - and filling them well, as
opposed to poorly - get called to appear in media, again
and again.

One day, if he can overcome his self-defeating mindset and
wipe that sour puss off his face, Ed might take his
training to heart and become one of those people. But that
seems unlikely. Shortly after agreeing to begin an
intensive program with us to remediate his media skills,
Ed's board decided to do a little remediation itself by
bypassing him for the post of CEO and handing it to someone
from outside the company. They also decided that improving
Ed's media skills wasn't worth the time or cost.

Ed can take comfort in this stark fact: When it comes to
his own media unpreparedness - and by extension, his
company's - he is far from alone.

----------------------------------------------------
As CEO, Linda Passante has been the engine driving The Halo
Group's consistent growth and evolution into a finely tuned
Brand Development Agency. Visit The Halo Group's blog, The
Halo Effect, for more tactical ideas and tips for CEOs,
CMOs and VPs of Marketing and Advertising.
The Halo Group homepage: http://thehalogroup.net/
The Halo Effect blog: http://thehalogroup.net/blog/

The 5 Key Characteristics of a Successful Entrepreneur

The 5 Key Characteristics of a Successful Entrepreneur
One of the biggest misconceptions regarding starting your
own business is that you are doomed to failure unless you
have a natural aptitude or a natural talent for business.
Needless to say, this is an untrue notion.

While there are a number of skills that you absolutely have
to be a successful businessperson, there are ways for you
to develop those skills along the way.

Instead of those skills, what you need to be thinking about
are the qualities inherent to all good entrepreneurs. Here
are 5 critical skills or characteristics you will need to
succeed as an entrepreneur.

Vision

The first is Vision/Leadership; successful entrepreneurs
usually see what other don't and tend to think outside the
box, compared most people. Vision also implies leadership,
and both qualities go hand and hand. Leadership in this
context means to do what others won't; to go outside their
comfort zones.

Perseverance

Next is Perseverance. Starting a business is like the
exponential version of working on a project for school.
When you are learning a new concept for that project, you
are going to have to go slow, but steady.

If you just start, do it for a bit and then leave it alone,
you are going to fail the project. But if you start it and
then keep at it little by little, you are going to
eventually succeed. This is what you need to do in
business; you need to keep at it until you reach your goal.

Self-Discipline

A related quality to perseverance is Self-Discipline. The
ability to take consistent and persistent action even when
we don't feel like it. This means not allowing ourselves
to get distracted by the T.V., social events and any myriad
of activities are "non-productive".

Flexibility

Another great ability successful entrepreneurs have is
Flexibility. They realize that,"there is more than one way
to skin a cat", so to speak, and are constantly looking for
ways to do things better. They have the unique ability to
recognize when perseverance devolves in just plain
"stubbornness", and will make adjustments as necessary.

Mental Toughness

In the business world, you are going to meet a number of
cut-throat individuals that would like nothing better than
to see you fail so that they can succeed. Unfortunately
that is just a reality in business.

While it is good to have business relationships with
others, what is not so good is taking anything negative
they say as the gospel and taking it completely to heart.
If you do that, then it won't take very many negative
comments before you hang up your business for good.
Consider taking peoples' advice if it is constructive, but
do not listen to anyone that is completely negative. It is
also a fact that often the most painful criticism comes
from those that we love the most.

Finally the key to every successful entrepreneur is their
ability to deal with failure. There are a number of people
that do not have this ability and in fact there are people
that give up on something after having one unsuccessful try
at it. This is something that you need to avoid in business
because you're going to fail at things again and again.

Closely related to this handling adversity in general. It
is important to remember that it is not what happens to us
that is key; instead it is how we react that is the
determining factor in permanent failure or simply temporary
defeat.

Please understand that even the most successful businessmen
and women of today failed at some point their careers; The
reason they became successful is because they DID NOT GIVE
UP; you shouldn't give up either.

Remember this, if you had to have just one quality, make
sure it is the ability to deal with failure and adversity.
It may be the single most important quality an entrepreneur
can have.

----------------------------------------------------
Keith Walden blogs about home business ideas and concepts
at http://www.the20secondcommute.com . Get his Free E-Book
On How to Successful build an Online Business, at
http://www.KnowtheTruth.biz

Beware the Life Coach Who Offers to Help You Fulfill Your Dreams

Beware the Life Coach Who Offers to Help You Fulfill Your Dreams
What on earth is happening out there? When I attend
professional association meetings and am routinely
assaulted by "life coaches" trying to pitch me as a client,
I wonder if the professional world has gone slightly mad.
Now I know this does make me sound solidly middle-aged, but
I was doing executive coaching before it had a name. When
on earth did it morph into "life coaching" and take on this
strange, frothy form? Good grief. It's just embarrassing.

These days, you'll have to pierce through a lot of noise in
the system to get to a good coach whether of the career,
leadership, or personal variety. I know, because I am
always trolling for affiliates to join my team. For what
it's worth, here are the minimal criteria I think you need
to use. I use them myself when screening candidates.

Screen without any hesitation for ALL of the following:

1. Good personal chemistry and a sense of trust. Done
right, coaching of any variety will quickly put you in some
very vulnerable and occasionally uncomfortable places
(sorry!). You must be able to trust the coach both
personally and in terms of his or her professional
competence. If you can't let down your guard with the
coach, you won't grow. A "maybe" should always be a "no."
If you don't feel good chemistry and a gut-level sense of
trust in your first meeting, move on.

2. Substantial demonstrated results. Has the coach worked
with others at your level and in similar professions? What
goals did these clients have? Were these goals similar to
yours? If so, what results did they achieve? Some might
blab on about how results are hard to define. That's
nonsense. Don't waste your time with anyone who can't
demonstrate results with clients who are in some meaningful
way similar to you.

3. Availability. A coach should be available to you, and
not just during prescribed meeting times. Everyone learns
differently. Not everyone grows best through weekly
one-hour structured meetings. It's a relatively personal
relationship, but a business one between peers first and
foremost. As such, I expect coaches to take calls between
appointments and from time to time after the official
coaching process has been tied off. Some of my clients
don't even set appointments any more. They call me when
they need me. If a potential coach squirms at this idea,
it makes me wonder why he or she can't better manage time,
client expectations, and fee schedules.

4. Speed. Unless you drag your feet, you should be able to
experience some progress and personal improvement within
the first 1 - 2 weeks after the initial assessment is
complete, in some cases sooner. Coaching is not therapy,
and no coach should assume that it will take months for you
to show any improvement at all. The only thing that
improves with that attitude is the bank balance of the
coach.

5. Strategic focus on strengths, and not just because
Marcus Buckingham made it trendy and cool. We lead from
our strengths, and studies had proven this years before
Now, Discover Your Strengths hit the bookstores. A good
coach helps you figure out how to better leverage and
develop your strengths in order to make progress toward
your development goals. He or she will also help you
figure out how to manage or improve your weaker areas, but
your weaknesses shouldn't be where you spend all of your
coaching time, or even most of it. Now if I could only
convince some of my clients of that...

These items are completely discretionary, depending on your
interests and needs:

1. Age and Gender. If you want someone your own age (or
older or younger, for that matter), it's o.k. to ask for
what you want. Likewise, if you believe you would feel
significantly more comfortable working with one gender over
the other, seek out what you want, and curb any feelings of
guilt that you might be ageist or sexist. It's more
important that you be comfortable enough to be open than to
be politically correct. Your coach is an objective
outsider, not an employee. Clients always apologize
profusely when they call to ask for a male coach, but I
never take it personally.

2. Industry knowledge. As much as we all like to think
that our companies, roles, and industries are unique, the
truth is that the majority of leadership challenges are
similar across industries. Industry experience can help
some people feel more comfortable with their coaches from
the onset, but consider the counterargument -- the less
industry experience, the less likely you are to learn that
your coach is also developing your direct peer at your
direct competitor.

3. Broader consulting or management experience. In my own
experience, I have found that the best executive coaches
have a great deal of other business experience and do not
dedicate 100% of their time to working as coaches. This
gives a broader perspective, but that may or may not be
important in your particular situation, particularly if
your development goal is of a personal nature.

When it comes to career coaching, you're swimming in some
mighty strange waters these days. So strange that career
coaching deserves its own spotlight in this article. If
you seek coaching in anticipation of a big career move, you
could experience a strange irony: your so-called career
coach could do damage to your career.

Career coaching has become a popular field, along with its
sidekick, resume writing. There are no barriers to entry,
with the extreme variations in quality that you might
expect under those circumstances.

Gone are the days when you could count on your career coach
to have a graduate degree in career counseling and years of
experience. You absolutely must ask for and check
credentials of anyone claiming to be a career counselor.

The worst are the career coaching services that charge
thousands of dollars to provide executives and aspiring
executives with a "marketing director" to write your resume
and tell you how to pitch yourself. There's certainly some
quality to be found out there, but mostly I come across
expensive junk. For example, I recently blasted two of
those resumes to bits and it was a shocking but
much-appreciated experience for the clients, both of whom
had previously worked with me on projects. I charged a
whopping $0.00, a substantially better price than the
executive career coaching services had charged. These
"marketing directors" had absolutely no idea what
executives value, how they think, or what would make a
candidate attractive to them. The resumes were full of
false bravado and hot air and did not in any way reflect
the fine personalities and genuine executive potential of
the candidates.

Your resume is your calling card. It's your voice to
prospective colleagues, and it impacts your reputation
before you've even had a chance to make one in person.
Don't hand the responsibility for your voice to a
near-stranger. In this arena, I know of no way to take a
shortcut that doesn't shortchange. Do the hard work of
writing your own resume, and give it to trusted colleagues
and advisors for feedback. You can't travel light on the
front end of a job search, but you sure can save yourself
months of delays and wasted time later by doing the hard
work now.

If you've personally used an outstanding executive-level
resume writing service, I'd love to hear about it. For
now, though, my recommendation is this: resume writing
services may be helpful for individual contributor jobs or
for those who struggle a great deal with English - although
I have my doubts -- but proceed with extreme caution if the
hiring manager for the job you want has a title that starts
with Partner, Chief, or Vice-President.

----------------------------------------------------
Jennifer Selby Long, Founder and Principal of Selby Group,
provides executive coaching and organizational development
services. Jennifer's knack is helping clients navigate the
leadership and organizational challenges triggered by
change and growth. She knows firsthand that great plans
often fail because companies don't take into account the
human factors that come into play when implementing them.
Visit Jennifer at: http://selbygroup.com

Defensiveness, Too Much Self-Reliance, and Over Optimism Can Cost You Profitable Growth

Defensiveness, Too Much Self-Reliance, and Over Optimism Can Cost You Profitable Growth
Anything that delays you from adapting to irresistible
forces (factors outside of your control that drive your
market and environment) will create stalled profit
performance. Let's look at three common attitudes that
result in such delays.

"Circle the Wagons!" --The Defensiveness Stall

Although some organizations avoid being left helpless by
irresistible forces, they may fall prey to turning their
attention inward too much in creating bulwarks against the
impact of the irresistible force. By focusing on a
defensive posture, they delay adapting to the new
conditions and risk falling behind or even not surviving at
all.

Many companies whose stock prices carry low price-earnings
valuations will proudly describe what they are doing as a
"value-improving" strategy. When asked about the fact that
investors are deserting this strategy in droves, the CFO
will often confidently reply that it will all turn out in
the end.

On further inspection, the result is more often being taken
over by another company at a bargain price. The new owner
will immediately initiate a better strategy that does
translate into significant, sustained stock-price growth
that the earlier management could also have done.

"We Can Do It All!" --The Independence Stall

When new irresistible forces arrive or existing ones change
their impact, enterprises may find themselves compelled by
the need to adapt as quickly as possible. In their rush to
respond, the organization's leaders may tend to rely on
people or practices that have worked successfully in the
past. They may not stop to consider whether the enterprise
has the right resources to accomplish the now-required
tasks.

Many Internet start-ups have a sound marketing and value
model, but do not yet understand how one has to support
that model with effective sourcing, supply, and service.
Soon they find themselves falling further and further
behind in meeting customer expectations with no clear idea
about to solve the mountain of fulfillment problems.

"How Can We Miss?" --The Overoptimism Stall

A sense of certainty about success or that an enterprise is
well prepared for the future, or simply viewing the world
through rose-colored glasses can result in rigid commitment
down the wrong path. Successful enterprises are most
likely to become subject to this stall, which is one reason
why they have such a hard time anticipating and adapting to
new circumstances.

Everyone in the company assumes success and is slow to
perceive that progress is not occurring from the
organization's new initiatives. Press reports indicated
that Digital Equipment founder and CEO, Ken Olsen, had
little regard for the potential of personal computers,
likening them to toys that would never be serious tools for
engineers.

During this time, Digital dominated the market for
minicomputers, and had been successful in replacing
mainframe computers in many applications. The same forces
that allowed the company to prosper as a minicomputer
specialist doomed the company to being replaced by
competitors making smaller, cheaper machines with the same
functionality.

A few years after Olsen was replaced by the board, the
company was sold to Compaq Computer, one of the producers
of those smaller, cheaper machines. Compaq, in turn, had
problems with wishful thinking, and as a result had trouble
integrating the two companies and keeping up with Dell
Computer's build-to-order business. Compaq's CEO soon lost
his job as profits and market share faltered. Compaq in
turn was acquired by Hewlett-Packard in a controversial
transaction that ultimately cost Hewlett-Packard's CEO her
job.

Instead, be on the lookout for irresistible forces and
develop strategies that cause you to prosper regardless of
what direction the forces take.

Copyright 2008 Donald W. Mitchell, All Rights Reserved

----------------------------------------------------
Donald Mitchell is chairman of Mitchell and Company, a
strategy and financial consulting firm in Weston, MA. He is
coauthor of seven books including Adventures of an
Optimist, The Irresistible Growth Enterprise, and The
Ultimate Competitive Advantage. You can find free tips for
accomplishing 20 times more by registering at:
====> http://www.2000percentsolution.com .