What Drives Entrepreneurs, and What Drives You?

What moves a business owner to create a brand new empire, to carve out their piece of the pie, and to change the face of commerce through his or her own vision? Instead of subjecting oneself to the volatile mercy of a market that is sure to take over the entrepreneur’s life, why not fall blissfully into the arms of monotony and work for somebody else? Because they can’t. It’s just not in their DNA. Business owners are another breed, a horse of a different color (insert your cliché here), and they could never be satisfied with toiling to realize someone else’s dream. Being another breed of professional, the things that drive an entrepreneur is different from what drives most people. Entrepreneurs Raise the Standard When you need a certain product that you either can’t or don’t want to produce yourself, you have no choice but to get it from …

Your Competitors are Not the Enemy; They are Your Friends

Many business owners fear that a strong competitor will put them out of business, or at least take some of their customers. As long as your market is large enough, however, there are usually plenty of customers to go around. Healthy competition is by no means reason for panic, and in fact, it’s a good thing. If you’re not convinced, check out this article: “Why Competition is Good News for Your Business” Find a Differentiator Your business must have that special something that sets you apart from competitors. Think about large-scale competing companies: Apple & Microsoft; GM & Chrysler; Nike & Adidas. Each of these companies make the same thing that its counterpart makes, and yet they are all hugely successful—how do they do it? Differentiators. The market is already established for each industry, so they don’t even have to worry about that. These companies have created key differences that …

Build an Ethical Business: Cheating Isn’t Worth the Effort

  You work in the business world; you’ll probably have an important decision to make before you finish your first cup of coffee, but there’s one decision that should be a no-brainer: How important is it to be ethical? When you build an ethical business, you gain the respect of the public, avoid bad press, and establish goodwill with your customers. It’s beneficial for any business to treat people with respect, and isn’t that the definition of Ethics?   Earning Trust Tim Melville-Ross, President of the Institute of Business Ethics, raises an interesting point in his article about the ethical obligation of businesses. He says that “businesses can’t just say they’re ethical; they need to prove they have embedded ethical values.” He claims that if business isn’t conducted honestly, then “trust is eroded and businesses fail.” When he says that businesses fail, it’s hard to tell whether he’s saying that …

121 Small Business Tools to Help Increase Revenue

  As business owners, we are always looking for ways to save time, increase productivity, lower costs, and attract new customers. While your first instinct may be to throw money at the weak parts of your business, simply reevaluating the tools you are using may give you just the jump-start that you need.   Below is a list of 121 great business tools that you can easily start using today. Whether you’re a new small business or large corporation, there’s bound to be something here that will either help increase profits or allow you to spend your time more efficiently.   Browse by Business Tools – Click to Jump to a Category:           Communications & Chat Every business owner knows that communication is paramount to the success & growth of your organization. These business tools will help you stay connected to your customers and your team, …

Brand Management Explained: The Entrepreneur’s Guide

  What is Branding? The first thing to understand about this is that a brand is more than just a name with a logo. When we talk about “creating a name for yourself,” we’re talking about putting together the whole package—the tangible perception of your business, as well as the intangible—which is the result of focused, thoughtful marketing that, ideally, inspires consumers to trust your business as a reliable source for a given product or service. There are a variety of elements that contribute to the making of a good brand, including how you interface with the public, as well as generating a strategic look and feel for your logo, content, etc. What do people think when they see your business’ name? It’s worth investigating how customers perceive you to make sure you are sending the right message, and that you’re famous for the right things.   Why Brand Your …

How to Write a Contract that Protects Your Business

Contracts do more than keep us honest; they make it possible to preserve the rights of everyone involved. Just because 2 people in a business relationship are both honest doesn’t mean that something can’t go wrong. There are a variety of problems that may arise when every aspect of an agreement is not plainly stated. You can avoid most of these problems by describing, in careful detail, every element of your agreement. Put it in Writing No one with a legitimate business would ever make important deals without a contract, but what about smaller deals, new clients, or even individual orders? No matter how big or small the deal, where there is an exchange of money, goods, or services—there should be a written contractual document. Explanation of Goods & Services What, exactly, is to be provided by each party? Including detailed explanations of what, how much, and for how long …

Elevate Your Speaking Skills: Professional Communication 101

  They say that silence is golden, but if you have to talk, then it can’t hurt to equip yourself to handle the transaction. In business relationships, there are dos and don’ts as there are when you’re relating with anyone. If you take nothing else from this article, just remember that your conversations with fellow professionals are not unlike those you have with anyone in life. Being genuine, straightforward, and appropriate is what brings success in professional relationships. Here are a few reminders to keep you on the right track.   Flattery Flattery has its place, and as we’ll talk about a little later, it works better if you’re sincere. You know when you’re trying to pick up a girl (or a guy) at a bar (or wherever you are), and you use some manipulative language to coerce this person to win them over? That’s the dangerous kind. All business …

Startup vs. Small Business: Which One Are You?

Startups and small businesses are born of the same lineage, but they differ in as many ways as they are similar. Depending on who you ask, you will hear that the 2 are either synonymous, or completely unique; nevertheless, there is a reason for different titles. So which type of business do you have—and what does it mean for you? Here we take a look at the key characteristics of the two types to find out what defines you as a startup, or a small business. Startup vs. Small Business: Primary Motivations It is generally held that a startup sets out with an ambitious idea and intends to “break in” to the business world by inventing or reinventing a market for itself. A small business, on the other hand, generally intends to find its own place in a niche or large, existing market, such as those staples of the economy: …

How to Stay Sane While Running a Home Business This Winter

When you work from home in the winter, make no mistake—you are in a fight. You are in a fight with your natural tendency to give into laziness and stop working; you are in a fight with the elements outside that keep you locked up in the house. Learn how to take control of each day and overwhelm this resistance, and you will find that you can still remain productive, even in the unforgiving winter months. Don’t Get Stuck In the House One of the greatest enemies of someone working at home is cabin fever. Once the workday is off and running and you’ve been glued to your desk for a couple of hours, the compulsion is to never leave your home office (that’s why you have a home business, after all). But in the cold, dreary months, it is vital to utilize every opportunity to leave the house, when …

Remote Employees: Are They Right for My Business?

Have you ever taken an online course for college? It can be a tough environment to work in, and as instructors routinely warn people who take such a course, it’s not for everyone. All of a student’s assignments, deadlines, and discussions are completely up to that individual to monitor and complete. When you employ a remote team, you are sort of a moderator of a big “online course”. There are many benefits to utilizing a remote team, including a larger pool of applicants to choose from, a potentially more efficient workforce, and an excuse to use some really fun telecommunication tools. There is definitely a learning curve if you’re new to it, though, so it’s good to be honest with yourself in deciding whether you can adjust to this kind of working environment. Can You Manage a Remote Team? There are benefits and disadvantages to having either type of team, …