Category: Entrepreneurs

If you’re hesitant about creating a business plan, it could be down to the type of business owner you are.

Over my 14 years of being in business, and speaking with many, many business owners over that time, I’ve discovered that when it comes to creating a strategic business and marketing plan for their business, these business owners typically fall into one of these four camps:

The Perfectionist Camp.  These business owners plan everything in minute detail and won’t dive in until everything is perfect. They constantly tweak, change, and revisit their plan.  The problem with this approach is that it will never be perfect.  Your business plan won’t ever be perfect, so you may as well just start now and get going.  You can always tweak/change/update as you go along.

The BSO Camp. These business owners are constantly distracted by Bright Shiny Object syndrome, never finishing one project before moving on to the next.  The problem with this approach to running your business is that you never get anything done. Nothing ever gets implemented.  No results (or very lackluster results) are ever seen. So there’s no real business growth and everything becomes confusing and overwhelming.

Opportunities are not the same as Bright Shiny Objects.

The Boxing-Myself-In Camp. Then there’s the business owner who won’t create a business plan because, if they do, they feel they’ll be boxing themselves in and missing out on opportunities that arise.  The problem with this approach is that by not having a business you don’t have any real roadmap for growing your business; nothing is done in a very strategic way.  And the irony is, you do end up missing out on opportunities because you don’t have a point of reference for anything that you do.

The Don’t Know What To Do Camp.  And finally there’s the business owner who simply doesn’t know what to do.  They’re very confused by all the different elements of online business management and really don’t know where to start when it comes to running to their business. They don’t know what their starting point should be.  Because they don’t know where to start, it’s really hard for them to create a strategic business and marketing plan that is going to work for them.

Despite all of these different scenarios there is one thing in common…

Without a strategic business and marketing plan in place, it’s going to be very difficult to grow your business and sustain it over the long-term.

• Opportunities will be missed.
• Revenues will be lost.
• And you’ll have no benchmark with which to gauge your success by.

This is why it’s so important you spend a little time planning out what you want for your business.

And I recommend to business owners who have never created a plan before that they first start with a 90-day business plan. Even by creating a plan that focuses on a shorter timeframe, it will provide them with the much-needed structure in which to grow their business.

Where are you struggling to create your business plan?

In today’s world, more savvy, business-minded individuals just like yourself are choosing to enter the world of entrepreneurship. Such a life can be extremely chaotic, as most business owners are the first into the office each morning and the last one out. If you are lucky enough, then perhaps in your off hours you may have the opportunity to relax and enjoy a hobby.

Crafting a useful hobby in your spare time is the best way to unwind from the day’s stresses, but with the added benefit of contributing to your professional life. Studies have shown that those who engage in hobbies, are more open minded and perform more efficiently at work. Here are five hobbies that can make you a better entrepreneur and help you run your business more efficiently.

Running

Running is generally only considered as a workout, though some entrepreneurs have begun picking up the activity as a hobby in their spare time. Running is all about setting a goal and sticking with the race to finish out the experience.

Running marathons requires a lot of discipline, just like running a business, and allows you to acquire the good habit of setting goals and improving your own self in various aspects of your life. Distance running helps you to truly learn what you are capable of, to push through adversity, and to persevere by any means.

Meditation and Yoga

Being an entrepreneur is one of the most hectic lifestyles one can embrace in this lifetime. There are so many stresses to deal with and tasks to complete on a regular basis. If you find keeping your focus is the most difficult task of the day, you should look into yoga or meditation, or perhaps both, as a way to relax and ease the mind after work.

Yoga and meditation have become worldwide phenomenon that ease the mind and release any negative energy from the body and spirit. By meditating and doing yoga, your level of energy and performance will reach new heights, while your health and happiness will experience boosts in every aspect of your life.

Gardening

Gardening is all about planting a seed and watching it grow through careful nurture on a daily basis. The same goes for any type of business these days. A lot of entrepreneurs have taken up gardening as their preferred hobby. It is a fun activity that requires a lot of hands-on experience to truly see a difference in the act.

Just as in gardening, business sometimes requires you to pick up a pair of scissors and cut out the excess in what could be considered a tough decision for many. You will plant your seeds, bear food from your crops, and watch as all your hard work begins to cultivate into something strong and useful.

Surfing

Surfing is often considered a young people’s sport, though that is not always the case. People of any age can pick up a board and enjoy themselves in the water. Being out on the open ocean and enjoying the waves on a custom board can be one of the most relaxing, enjoyable experiences anyone may take part in.

Surfing has been known to improve mental health, relieve stress, and is a great physical workout. A savvy entrepreneur will use such bonuses to their advantage, bringing those boosts to their work life.

If you would like to take up surfing as a new hobby that can benefit your entrepreneurial venture, you can take a trip to some of the best surfing locations in the world. For example, surfing is the top activity to do in Hawaii. Combining the pleasures of travel with the benefits of surfing will allow you to unwind and destress in the best possible way.

Golfing

Golfing is often considered one of those boring sports that high-ranking CEOs and financial advisers pick up in their spare time to win over new clients. However, anyone can enjoy themselves on the wide open green and reap the many benefits golfing brings.

Golfing has been found to reduce a lot of stress, makes for a powerful social experience, and lets you get outdoors after sitting in an office all day or week. It is the type of hobby where you can easily invite your clients or business partners to form relationships and seal any deal.

Final Word

There are, literally, thousands of hobbies available these days. These five have the added benefits of expanding your professional mind and experiences. Deciding to pick one up can bring you many health benefits as well as help you become a more successful entrepreneur.

BIO: Natalie Smith, a freelance writer from Seattle, ardently follows topics related to entrepreneurship, small businesses, social media, and customer service. For more information, reach her @Natalie Smith

What can I do about my ban?

If you feel aggrieved by a conviction in the Magistrates’ Court you do have the option of lodging an appeal which would be heard in the Crown Court. Expert legal advice is available – companies like drinkdrivesolicior.com, for example, can help.

I’ve just been convicted, how long do I have to lodge an appeal?

There is a 21 day period from the date of the decision being appealed against within which can only be extended with the permission of the Crown Court .

If I’m appealing, can I drive while waiting for the result?

You may be able to get your disqualification suspended until the appeal has been heard if you apply as soon as possible to the Magistrates’ Court or Crown Court.

How can I appeal?

Your appeal against the conviction/sentence or both.

If I win the appeal, do I get my costs back?

When an appeal is successful an order for some of the costs to be reimbursed is normally made. Unfortunately, following a relatively recent change in the law, costs are paid back at legal aid rates which are much lower than what most privately engaged solicitors charge so you can only expect to receive a small proportion of your costs back (some solicitors will also charge for preparing your claim for costs).

I didn’t realise that the original hearing meant I could face a driving ban, so I didn’t get legal help. What do I do?

Failing to engage legal help and advice in the first place isn’t enough of a reason to alter a court’s decision, and your case won’t be reheard simply because you now have a lawyer. Your best bet is to get advice as soon as possible and if it looks like you have good grounds for getting your conviction quashed or your sentence reduced, then you can make an appeal.

I’ve turned my life around since my conviction and I’d like to get my licence back; is this possible?

You can actually apply for your licence to be reinstated, but only after two years of the disqualification has passed. If your ban was for 5 years or more, you need to have served half of it to apply for a reduction of your disqualification.

Only a bold, brave person chooses to become an entrepreneur. If you want to succeed in business, you’ll need to learn not only from the successes of others but also the mistakes, and the latter are often more instructive. Following are four common mistakes first-time entrepreneurs make.

Make Choices

Are you someone who struggles to decide what to have for dinner each night? If so, running a business likely isn’t for you. One of the crucial elements of entrepreneurship is the ability to make fast but informed decisions. Many people fear this kind of choice. Being wrong forces people into a stalemate called analysis paralysis — one of the most fatal errors for people in leadership positions.

If you’re unwilling to commit to one side of an argument, this confusion will filter down to your employees. They, too, will act indecisively. The inevitable outcome is that your business will suffer due to a lack of direction. People need leadership, and that will require you, the entrepreneur, to make hard choices.

Networking Matters

During the early days of your business, you must avail yourself of every potential business relationship. You might have heard that 90 percent of startups fail. One of the reasons is that companies fall victim to the burn rate of their cash flow. With a lack of ready clients, such failed enterprises spend all their money without any viable way of generating more.

How does an entrepreneur get more clients? They network. Through personal and professional connections, you can meet even more people, many of whom are potential customers, and you can begin to foster relationships with them. All of this seems rudimentary, yet a shocking number of new business owners fail to explore these avenues. The fear of rejection causes some people not to try. You must demonstrate more boldness than they exhibit and embrace the networking process.

Money Matters More

Unquestionably, the most difficult aspect of first-time entrepreneurship is learning how to handle cash flow. As noted above, you have a finite supply of money. You have to be careful to make it last long enough for you to earn more. Many startups struggle due to their lack of on-site accounting professionals. New business owners aren’t often skilled at bookkeeping, so they miscalculate their financial situations.

Fortunately, cloud accounting software can address these concerns. For example, Sage’s small business billing software makes transactions easy enough that you can know at a glance the status of your corporate bank account and other financial data. Such financial apps empower you with the ability to take complete control of your balance sheet, knowing precisely what your short- and long-term cash flow is. In short, products like Sage will make you a better entrepreneur.

Don’t Get Attached

Did you know that Pinterest was once a business app? It was a shopping program called Tote, and nobody cared. Then, founder Ben Silbermann accepted that the pinned board concept surpassed the original expectations for Tote as an app, so he pivoted.

Similarly, Android, now the dominating smartphone operating system, started with simpler goals. As originally intended, it was a cloud storage camera system complete with a revolutionary operating system. The catch was that its programmers built it to connect to computers, running much of its programming through them. Google recognized a better usage of the technology and purchased the company. The rest is smart device history.

What’s the point? Your original ideas for your company shouldn’t be finite. There’s an ebb and flow in business that is impossible to anticipate in advance. Plan your early strategies for the revenue you know your products can earn. As more opportunities become available, don’t ignore them in favor of your current revenue stream. Instead, explore their potential, keeping in mind that some of the most popular companies on the planet started out as entirely different enterprises.

When starting a new business, realize that plenty of cautionary tales exist. You should not be afraid of these mistakes but rather appreciate their value. Learn from the miscalculations above, and you’ll better position your business to succeed.