Month: December 2012

Categories
Entrepreneurs

5 Qualities Which Every Entrepreneur Has

Article Contributed by Will Vicary

Becoming an entrepreneur is the dream of so many people from different walks of life. From the college student studying to earn a Bachelor’s Degree in Business, to the housewife whose children are now school-aged, entrepreneurship can be a great opportunity. While some people like Catherine Cook and Mark Zuckerberg have made hundreds of millions of dollars as entrepreneurs, unfortunately this does not happen 99% of the time. Entrepreneurs must possess specific qualities if they want to succeed, earn profits, and come up with an innovative business. If you have an idea and you are in the process of developing your business plan, here are 5 qualities that you must possess to succeed.

These are five qualities that every entrepreneurial minded people possess:

Focused

When you are employed by a corporation and you work in an office, you have no choice but to go to work if you want to keep your job. The corporation will keep you on their payroll if you attend work, perform, and meet your goals. You must be an asset for the corporation to justify the cost of keeping you on payroll. But when you are entrepreneur, the idea and the business is yours. You must be willing and ready to dedicate countless hours starting your business even when it feels like you have nothing to show for it at first. The best entrepreneurs are passionate about their ideas and can stay focused without micromanagement. Be prepared to put in the effort and the time.

Innovative 

Most people know that technology has changed business dramatically. With new software programs, new computers, new portable tablets, and new marketing strategies, everything is changing on what seems like a daily basis. All of the best entrepreneurs are prepared for the constant changes that the industry will bring. They are not just creative, they are innovative. They can adapt technologies to suit their own professional needs and will not let changes in technology overwhelm them.

Energetic and Motivated

Entrepreneurs do not need anyone else to motivate them. The idea of succeeding is the only thing an entrepreneurial-minded individual needs to drive them and keep them motivated. Those who cannot motivate themselves may not be the best entrepreneurs. It is very important for anyone considering entrepreneurship to be energetic, excited, and most importantly self-motivated.

Competitive by Nature

With so much competition in every industry, every entrepreneur is going to have to face the competition at some point and time. When a new business opens, the owner needs to market their business and the value. They need to compete against other businesses that are already extremely successful in the same industry. If you are not competitive by nature or you easily feel defeated, you might not possess the competitive gene that the best entrepreneurs possess.

Be a Leader and a Team Player

When you think about being a team leader, you might think that this is completely different than being a team player. The best leaders are team players. You are going to need a team to help you come up with ideas, operate the business, and accomplish goals. The best entrepreneurs can drive themselves but they are also team driven.

All entrepreneurs are ready to feel but motivated to succeed. As you can see, successful entrepreneurs possess specific qualities. Some of these qualities are inherent and some of these qualities can be learned through experience. You must be confident, passionate, and ready to accept rejection. With these key personal qualities, ambition, and inner drive, many people like the Mark Zuckerberg, maker of Facebook, have grown their business larger than they ever dreamed of growing it.

About The Author

Will Vicary writes on behalf of a number of businesses on topics such as fiduciary management and auto enrolment. He enjoys reading about business as much as he enjoys writing about it. Any opinions expressed in the article do not necessarily represent the businesses Will writes for.

Categories
Technology

The Cloud is All Grown Up

Article Contributed by Kay Ackerman

Have you noticed you don’t hear a formerly common question much anymore? “Exactly, what is cloud computing, anyway?” It wasn’t too long ago when, if you told people you use the cloud to produce and store your work, you received perplexed looks from even some otherwise tech-savvy gurus.

As many experienced observers believe, cloud computing is growing up. The excitement surrounding the cloud, including how it would save users money, sounded too good to be true–total hype. However, the skeptics, who also were concerned about security issues (at a minimum), aren’t saying too much anymore. Users realize that it’s not the magic bullet some proponents claimed it would be, but it works.

The cloud has survived its formative phase. It’s become a reliable tool.

Detractors still maintain that it comes with potential security concerns and user savings, which are challenging to measure. However, more and more entrepreneurs and businesses are trusting the cloud with their documents and data storage.

Infancy

The origins of the term “cloud” remain a bit cloudy (pun intended). Most believe it comes from the cloud-like drawings displaying the interrelationship between a network and its various components. Others maintain that the word “cloud” is simply a metaphor for the Internet, upon which the remote servers storing documents and data depend. Cloud symbols have been used to describe the Internet for over two decades.

Although most consider cloud computing a cutting edge use of technology, the concept goes back to the days of large-scale mainframes in the late 1950s and early 1960s. Who knew? Forward thinkers, who could also count money, realized that the cost of then-sophisticated mainframes was prohibitive for all but the largest corporations and universities. Some developed methods to sell “time” on mainframes to others to increase their return on investment (ROI).

Growing Up

Much like humans, cloud computing went through numerous growing pains. While it’s still not in the grizzled veteran status, the cloud is maturing. Its abilities to deliver numerous benefits consistently improve. The characteristics of cloud computing are expanding as is its reliability and acceptance.

  • Cloud agility. Allows users to change, upgrade and expand their technology quickly and as needed.
  • Accessibility to varied software. As new interface software and applications appear, the cloud enhances human and computer interaction.
  • Cost savings, still challenged by skeptics, divert capital expenditures to recurring operations expenses. Instead of massive investment dollars, individuals and organizations enjoy budget-manageable expenses.
  • User freedom and independence. Users can access the cloud from a browser, regardless of where they are or what devices, including smartphones, they are using.
  • Sharing and migration. Cloud technology permits sharing of servers and storage. Apps can quickly and simply migrate from one server to another.
  • Reliability. Once a primary cloud concern, much like secure backup systems with multi-level redundancy, reliability continues to improve. Redundant servers, usually at multiple locations and with efficient disaster recovery programs, make the cloud safer for users.
  • Security. While not perfect–do you know of any security system in any industry that is?–cloud security continues to improve, consistently better protecting sensitive data from hackers.
  • No deferred maintenance. The more sophisticated and complex your operation, the more important and costly its maintenance requirement to keep systems up and active. Cloud computing removes most of that daunting responsibility–and cost.

The cloud, while not a one-size-fits-all tech solution for every individual or business, is maturing quite nicely, thank you. If its popularity, efficiency and security continue to increase, the cloud could become the standard for personal and business computing. Stay tuned.

About the Author

Kay Ackerman is a self-proclaimed tech geek and freelance writer, focusing on business technology, innovative marketing strategies, and small business. She contributes to www.technected.com and you can also find her on Twitter.

Categories
Entrepreneurs

Why Entrepreneurs Need Coaches

Entrepreneurs are always looking for ways to start new businesses to make a profit. They are the first to see opportunities in new products and enterprises. Many people may be aware of opportunities, but they may not be aware that three in ten new businesses fail in the first two years. By the end of five years, nearly half have failed.

Many authors have compiled lists of reasons for business failures. Among the reasons are poor management, competition, undercapitalization, location and many other reasons that may be prevented if they are recognized in time. Unfortunately, many entrepreneurs may be too involved in the business to see new opportunities or recognize the danger signs of business failures.

Since poor management is the major cause of business failure, entrepreneurs could use guidance in planning and computing the return on investments, cash flows and breakeven theory. If the business depends on sales of inventories, the entrepreneur should know how to manage inventories to keep them as low as possible without losing sales.

In addition, the entrepreneur should be familiar with the latest technology and how to use supply chain management to maintain efficiency in his business. He should be reasonably familiar with every phase of the business so that financial statements provide him with a clear understanding of the direction the business is going.

Perhaps Entrepreneurs Need Coaches

Since it is difficult to know all of the best investments available, the entrepreneur should consider a business coach. Business coaches are trained professionals who help entrepreneurs plan strategies and techniques to increase profits. Although they are not business experts, they are more than consultants. They can act as sounding boards, and make suggestions for the best methods of advertising strategies.

One advantage of having a coach is getting a new perspective. They are an extra set of eyes to recognize new opportunities or see danger signs. In some cases, business coaches inspire entrepreneurs to do greater things. However, the results always depend on the coach and the entrepreneur. The good coach can give invaluable advice and guidance about your new business investment.

Iron sharpens iron, and entrepreneurs sharpen other entrepreneurs. The wisest businessmen know there is a lot to learn from other businessmen. Looking into getting a coach can be the key to your next big breakout – finding your passion, discovering a new niche that you fit well into, even finding a completely new career path are all things that an outside perspective from a business coach can help out with.

How to Start Looking

The student is only as good as the teacher can mold them, in many cases. You’re going to need a teacher that fits you, and your entrepreneurship style, with expertise in your areas of interest. Be prepared to pay a price for this type of management as well; skill building, advice, career coaching, and emotional support doesn’t always come cheap. It helps to start working towards your goal now, too. If you’re interested in real estate, for instance, go ahead and start working for as many credentials and certifications while on the hunt for the right entrepreneur coach. If you’re interested in law and court, it’s a good idea to look into legal transcription training in the meantime. Make yourself as sell-able as possible, by building yourself up on paper and in person.

Article contributed by Jenna Smith