Article Contributed by Lynda-Ross Vega
Most of us have undeveloped talents that lie hidden inside us until they’re recognized and acted upon. Each of our talents is an opportunity waiting to happen.
Perhaps our natural talents and gifts weren’t recognized or appreciated when we were young. When that happens we tend to ignore or stifle them in order to avoid criticism, or we minimize ourselves by thinking, “Well, if I can do it, everyone else must be able to as well.”
The terrific insight about these internal opportunities is that, unlike their external counterparts, they can never be lost. But they can be missed unless you make the effort to discover them and then jump in and turn them into active talents.
Opportunities such as these are like muscles you have but never exercise. They function, often poorly and without great results at first. The good news is that like unused muscles, these opportunities can be consciously exercised and strengthened. The opportunity transforms into a talent!
Many people are surprised when they discover internal opportunities they never knew they had. Others admit sheepishly that they were aware of the skill, but didn’t think that it was anything “special.”
Overlooked opportunities can rob you of your full life’s potential and keep your natural talents from shining forth. If you want to do more of what you do best you must use all of your talents to their fullest.
Turning your opportunities into talents is an important step. Take action, do something, try something, get inspired!
Here’s one way to start: Brainstorm a list of at least 7-10 things you’ve always wanted to try. Some items on your list might be painting, playing the piano, learning a new language, whatever. Don’t censor yourself or worry about looking foolish. No one else has to see your list. From that list, choose one activity and pursue it in whatever way you can for the next 30 days. Do something you loved as a child. Try out a talent that you’ve always admired in others. Try something you imagine being terrible at. Do it even if it scares you.
The goal is to find something that will give you clues as to what it is that makes you happy. Discovering a hidden talent might be the catalyst that inspires a career change or presents a new business opportunity. Others say feeding a hidden talent gave them a boost in confidence to try something new, go after something they wanted or fulfill a life-long dream.
Finding our talents also helps us uncover those characteristics were we do not shine – those that make us unhappy and leave us feeling unfulfilled. The trouble is, when you waste your natural abilities you often feel stuck doing something you hate. It’s just as important to weed those skills out.
Discovering and nurturing a new talent is an opportunity to find what you need in order to be successful in life and enjoy life more fully. When we are doing what we love, we are often performing at our best. This leads to a kind of fulfillment that allows us to live life passionately and happily.
About the Author
A partner at Vega Behavioral Consulting, Ltd., Lynda-Ross specializes in helping entrepreneurs and coaches build dynamite teams and systems that WORK. She is co-author of Vega Role Facilities Theory, a revolutionary psychological assessment system that teaches people how to unleash their deepest potentials for success. For free information on how to succeed as an entrepreneur or coach, create a thriving business and build your bottom line doing more of what you love, visit www.VRFT.com
Author: Pamela Swift
Even with the ongoing recession, building a business online remains a viable approach for any new start-up. Why? Well, while even online retailers are feeling the pinch of a tight economy, they are also expected to pick up market share at the expense of traditional retailers during this downturn. So, an online approach is both more sustainable during a slowdown and a way to get more out of the next economic recovery.
According to a recent study of 151 online retailers, most expect growth to slow over the next year, and most are seeing the recession impact their bottom lines. However, 80 percent of the survey respondents see online retailing as better equipped than traditional retailing for countering the effects of the recession. This is why online retailers should continue to take market share from more traditional competitors.
However, that does not mean that all online businesses will succeed. There are some fundamental steps that will help an online business get off the ground more smoothly.
1. Research Online Demand For Your Products and Services. Online Research should help you determine several quantitative facts about your potential market, including overall size, demographic makeup, growth rate, and income level. These facts can serve as an initial reality check on your business plan, as well as help you make initial projections about the scope of your business. Beyond the quantitative benefits though, some fundamental market research should help you form a mental picture of your typical customer. This mental picture can subsequently inform a variety of other business choices, from web site design and development elements, to where to promote your site, to what range of related products or services to offer.
2. Understand Who Is Your Competition. Your market may look attractive in isolation, but next you need to assess the competition. Who are the market leaders, and what are their strengths and vulnerabilities? Who are the new entrants into the market, and which ones are picking up market share? Knowing your competition will help you determine where you fit into the marketplace, and this in turn will influence your product, promotion, and pricing strategies.
3. Back-Office Infrastructure Payment Processing. For one thing, an online business relies on a technology infrastructure that is affordable and yet will stand up to spikes in volume due to seasonality or successful promotions. Then there are key details such as credit card processing -and a merchant account– things that make the buying process as seamless as possible. For most start-up businesses, basic infrastructure issues such as the technology platform and credit card processing are outside their primary areas of expertise, so outsourcing solutions should be considered. Always compare credit card processing prices and merchant account prices before you select the one that best fits your business needs.
4. Attractive Website Design to Increase Traffic and Conversions. Now you can think about setting up shop. That’s precisely how you want to think about web site design–it is your place of business. The look and navigation of that Web site help you project an image to your customers. Are you hip, or are you traditional? Are you complex, or easy to access? Different positioning calls for different images, but there are two universal rules to website design: don’t look amateurish, and don’t make it difficult for visitors to make a purchase. This is another area where outside, specialized help can make a big difference, as opposed to spending time on something beyond your reason for being in business.Compare Web Site Design Prices to select the one that best meets your needs.
5. Use Internet Marketing and SEO to Promote Products On Your Web Site. An online business should focus its promotional strategies on capturing an online audience. This means some non-traditional promotional strategies, such as search engine optimization (SEO) and internet marketing. SEO helps associate your product or service with Internet searches on related topics. Internet Marketing allows you to pay for Internet advertising according to the amount of activity it generates, and to monitor the results of that activity. Because the Internet is still a relatively new business medium, promotional techniques and consumer behaviors are changing rapidly. Fortunately, there are internet marketing specialists who can help you stay abreast of evolving strategies in Internet marketing. Use an online service to find and compare SEO prices and internet marketing price quotes.
Summary
Overall, there are two important principles to apply when starting an online business:
1. Your business plan should represent a combination of traditional business methods and techniques specific to the online medium
2. You should identify the tasks where your organization can add value, and outsource functions outside your primary expertise.
Applying these principles using the steps described above, should help you get your online business off to a successful start.
Despite the global economic gloom, we continue to see smart entrepreneurs and businesses introduce innovative new business ideas to the market around the world. If you want to be in the know, this free report by our sister website CoolBusinessIdeas.com is for you.
This newly published 28-pages PDF ebook (worth $38), Cool Business Ideas in 2009, is an analysis of innovative and never-seen-before business ideas we’ve seen worldwide in 2009.
As competition for consumers’ downsized wallet intensifies in these tough times, it is increasingly important to deliver superior value and whet consumers’ natural appetite for all things new and latest. So if you have a brilliant business concept in your head, do not hesitate to make it happen in today’s business marketplace. For those of you who don’t, fret not. Look within this free 29-page report brought to you by CoolBusinessIdeas.com for inspiration on the coolest new business ideas you wish you’d thought of. Some of the case studies included in this free report: Everyday Solutions, Small Niches and Big Riches, Wireless Wonders, Rethinking Tourism, and more.
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As 81 million American baby boomers begin to move into their retirement years, they are redefining what retirement means. For many, it doesn’t mean they’ve stopped working, but rather that they are exercising more choice over how they work. According to a 2009 survey, some 75 percent of people who chose to engage in some form of work found the work satisfying, and in four out of five cases, they were able to find white collar jobs for what are known as “encore careers.”
Picking the perfect second act for your career can involve trying a field that’s always interested you, helping out with a cause that you believe in, or getting a chance to run your own business.
If it’s running your own business that appeals to you, chances are you don’t want to sink a large chunk of your retirement savings into a new venture at this point. Therefore, the key is getting started with minimal investment up front. This is very possible these days, depending on how you set up your business, and what type of business you choose to go into.
Getting Started with a Shoestring Budget
To start a business with relatively little up front capital, the key is to minimize fixed costs. Variable costs–expenses of the pay-as-you-go variety–are preferable because they allow you to ramp up or scale back investment depending on how the business is going.
Here are some key tools for keeping fixed costs to a minimum:
• E-commerce Solutions. Who needs a business location when you have the Internet? The ultimate low-overhead storefront, the Internet gives you access to a world of potential customers. Utilizing e-commerce solutions is much cheaper than having a physical place of business where you receive customers. For example, it allows you to avoid the many expenses of having a retail outlet, such as rent, utilities, staffing, and insurance.
• Outsourcing Back Office Infrastructure. Rather than building a complete organization from scratch, try to outsource anything that isn’t central to the unique value proposition of your business. For example, functions such as customer support, credit card processing and human resources are only needed occasionally or periodically. Therefore, it makes more sense to utilize outsourced call center services for telemarketing or customer support or HR outsourcing for human resource activities than to try to staff it internally.
• Use Online, Social Media Strategies to Promote Your Business. Developing a full scale online social media strategy can seem overwhelming at first. But you can implement simple things by hiring interns to do the leg work such as starting a blog or using Twitter, and tracking different programs making adjustments along the way.
Low-Cost Entrepreneurial Business Ideas
If the above are some techniques for structuring a business with minimum up front investment, what are some lines of business which lend themselves to getting started with minimal capital?
One rule of thumb is that services generally require less investment than manufacturers or retailers, though with e-commerce some re-sellers can operate cheaply if they have tight supply lines and add value in the process. Focusing on services, the following are some examples of businesses that might be right for the current environment, and can be started on a shoestring.
• Business consulting. If many retiring boomers are going to be starting their own businesses, why not use your business experience to help show them how to do it?
• Green consulting. People are striving to become more energy-efficient, for economic and environmental reasons. If you have expertise in this area, consulting with businesses and homeowners on how to reduce their consumption is a natural.
• Public relations. If you have media and promotional experience, you could be in demand with the new wave of entrepreneurs starting their own businesses. In particular, bringing knowledge of modern promotional techniques such as social media strategies could be valuable to these new businesses.
• Employment counseling. Between a weak economy and an aging population, there are many people facing a career crossroads these days. Helping them find the right niche can be a good way to make use of any personnel experience you have.
• Online Lead Generation. Sales Lead Generation is growing by leaps and bounds as far as start up industries are concerned. This is a very special industry that affords flexibility and freedom that is unparalleled. And, there is even a significant demand for highly specialized lead generation consultants to help companies generate qualified sales leads in this market.
Running your own business may not have been your parents’ idea of retirement, but things are very different today. If you have the entrepreneurial itch, starting a venture might just give you the satisfaction and extra income to make your “golden years” more than just an expression.