Category: Entrepreneurship

Article Contributed by Lynda-Ross Vega

Just as in the human body, the strength of a business comes from its core. A strong core facilitates growth and endurance, and in business, that growth equals success, and that endurance equals longevity. Naturally, a successful, long-living business is what we all want and strive for!

You are the core of your business. You are its strength, its heartbeat, its reason for being. As its core, your strength comes from understanding your skills and talents and applying them in everything you do. That’s where we come in. We call it strengths-based business building – a process of helping you develop your natural entrepreneurial skills.

Imagine the core of your business becoming as strong as the core of your body: the muscles that provide you with power and stability are essential in everything you do. As the core of your business, you are just as essential to its success as those muscles are to your body. You are the reason for your business’s success, and it is only as strong as you are.

Understanding that you are at the core of your business is the easy part; the challenge is making sure that the core is as strong as it needs to be for your business to succeed. The technique of strengths-based business building involves accentuating the your strengths, and those of your team, the two most essential parts of your business.

Your strengths – your talents, abilities, ideas and skills – are what we call your “genius,” and as a business owner, you want and need your “genius” to come first. That’s what differentiates you in the market place; that’s why your clients seek you out. It’s a waste of your time and talent for you to focus on mastering parts of your business that are not based on your natural strengths. You want to do (and should do) what you love to do, what you’re good at doing. We help the rest fall into place by showing you what skills your team members must have that compliment you and keep the core of your business strong and vibrant.

Building a business around its core, around you, is essential and easy with the right tools. Our guaranteed system combines science and psychology, and while we’ve done the hard part of creating this approach, it’s now your turn to do the easy part and let us help you implement it.

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-creator of Perceptual Style 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.YourTalentAdvantage.com

Article Contributed by AccountingDegree.com

Every big business had to start out somewhere, right? Some have come from more humble beginnings than others, launching with no more than some basic equipment, a couple employees, a garage space and a big idea. Whether you’re a business or finance student hoping to follow your own path to entrepreneurial success or already working in your own garage on the next big thing, these stories of companies that rose from obscurity to be multi-million (or billion) dollar industries can be a big inspiration. They may very well help you finally realize your dream of getting out of that garage and onto bigger and better things.

1. Apple: Today, consumers will wait in line for hours just to get their hands on some of Apple’s latest products, but once upon a time this electronics giant was a mere blip on the technology industry’s radar. Back in 1976, Steve Jobs, Steve Wozniack and Ronald Wayne started a business out of a garage in Cupertino, CA, putting together one of the first prototypes of their personal computers. Over the next decades, the company would introduce several more models, including their Macintosh line in 1984, arguably what turned them from a struggling startup into a fully fledged business. Today, the company manufactures much more than computers, has almost 50,000 employees and brings in revenues of over 14 billion each year.

2. Google: Google might be a household name today, but back in 1998 the search engine giant was just starting out. Their corporate headquarters? A Menlo Park, CA garage. For the next five months, Google’s staff of three would work out of this garage, perfecting their search algorithm, indexing web pages, and raiding the refrigerator of their friend’s attached home. By the next year the company had outgrown the garage and eventually moved into what is today known as the Googleplex. To celebrate their 8th birthday, Google purchased the garage and intends to preserve it as a lasting legacy to the humble beginnings of their business.

3. Mattel: Mattel wasn’t always the toy maker we know it as today. When the Handler’s got their start in the 1940’s in a Southern California garage, they were making picture frames, not toys. Ruth Handler began taking the scraps of wood from those frames and making doll furniture, a side business which proved quite successful. Because of this, the entrepreneurs decided to change their focus to toys instead. In 1959, they introduced the first Barbie, and afterwards became a household name. Today they’re home to big names in the toy business like Fisher Price, Hot Wheels, American Girl and a number of board games.

4. HP: Back in 1939, Bill Hewlett and Dave Packard decided to establish their own electronics manufacturing company. Based out their garage in Palo Alto, CA, with an initial investment of only $538, the two helped establish the technology hub that would become Silicon Valley. When they started out, they made everything from high-tech electronics to agricultural products but by the 60’s were homing in on the tech market exclusively. Today, the company is an electronics giant, with some of the highest quality personal computing products on the market. They have opted to preserve the garage where they got their start, making it into a museum.

5. Amazon: In 1994, Jeff Bezos laid the foundations for what would be the online retailing giant Amazon in his garage, hoping to follow in the footsteps of fellow garage entrepreneurs HP. With a strong foundation, the company grew very quickly, and before long was in need of a much bigger space to house their operations. Today, there are few people who haven’t shopped with the online retailer, buying everything from food to televisions to electronic media. This small business had become one of the leading retailers in the world, with billions of dollars in sales each year.

6. Disney: While he would go on to build an animation and entertainment empire, Walt Disney’s first studio was a tiny, one car garage in Hollywood. There he worked on a variety of animation products, setting up a makeshift studio in the space, while he waited to see if his Alice in Wonderland pilot would be picked up by any major distributors. It was, and the company quickly moved out of the garage into a proper studio. These days, Disney is an entertainment giant for kids and adults alike with movies, theme parks and products around the world. That tiny garage was almost torn down, but the dedication of a few interested citizens helped to save it and interested visitors can go there today to see where it all began.

7. Microsoft: In 1975, Bill Gates and Paul Allen founded Microsoft, with just a few resources and an available garage space. Unlike Apple who developed both software and hardware, Microsoft homed in on the software market. Working with IBM, the company licensed their first OS for a mere $80,000. Later, they would go on to develop more sophisticated operating systems that would evolve into those we know as Windows today. The business would grow to be one of the most profitable and powerful in the world, dominating the personal computing market.

8. MagLite: Anthony Maglica started his dream of owning a business by working long hours to earn the money it would take to put a down payment on his first lathe. Working in a Los Angeles garage, he began to design and build precision parts for industry, aerospace and the military. By 1974, he was incorporated as Mag Instrument and the company was gaining a reputation for the quality of their products. In 1979, MagLite released their first flashlight, the product they are best known for today. It would help them to become a household name and secure their place in the market.

9. Yankee Candle Company: Unable to afford a present for his mother, young Michael Kittredge created his first scented candle from some melted crayons in his garage. Neighbors saw the candles and began purchasing them from him, eventually motivating the high school student to found a business with two high school friends. Kittredge sold the company in 1999 after a cancer scare, but it has gone on to even greater success and is now sold at many major retailers and a number of its own standalone stores.

10. Harley Davidson: It makes complete sense that a company selling vehicles would get its start in a garage or outbuilding, because that’s where those products eventually end up. Harley Davidson did just that, starting out in 1901 with a small business that built engines for bicycles. Of course, it wasn’t long before they started developing the motorcycles for which they are known, and in 1903 they had already released their first racing bike, constructed in a small wooden shed. Buoyed by the popularity and speed of their motorcycles, the company expands, constantly rethinking the best ways to build a bike. Today, they’re still known for producing some of the biggest, best motorcycles on the market and have become a household name.

10 Big Businesses That Started in a Garage [AccountingDegree.com]

Article Contributed by OEDB

The selection of books on business seems limitless, but entrepreneurs can pay special attention to those that offer a spark of entrepreneurial spirit. Inspiration, innovation, management, leadership, and more are all addressed in these books. Read on to find an excellent collection for any entrepreneur’s library.

Entrepreneurial Passion

In these books, you’ll learn about the passion behind entrepreneurship.

1. The Fountainhead: Ayn Rand’s book encourages entrepreneurs to work without asking for permission.
2. Oh, The Places You’ll Go: Dr. Seuss’ book will remind you to stay positive and focused.
3. The Little Big Things: Tom Peters explains how you can pursue excellence in your business.
4. Crush It!: Gary Vaynerchuk explains how to cash in on your passion with this book.
5. Never Get a “Real” Job: In this book from Scott Gerber, you’ll find out how to ditch the idea of getting a real job.
6. You Need to Be a Little Crazy: Read this book to understand how to be just crazy enough to grow your business.
7. Impro: Keith Johnstone discusses how to face the unexpected as an entrepreneur.
8. Ready, Fire, Aim: Serial entrepreneur Michael Masterson offers important business lessons.
9. A Whole New Mind: Daniel Pink’s book encourages reinvention for entrepreneurs.
10. Rework: Rework will inspire you to toss out the old rules of business.
11. How to Own the World: How to Own the World explains habits and attitudes that can make you successful as an entrepreneur.
12. Go Big or Go Home: Take Wil Schroter’s approach to business and go big.
13. The Winning Spirit: Build an excellent network with a winning spirit inspired by Lisa Wicker’s book.

Read more about the entire list of 60 books at OEDB.

Article Contributed by Lisa Cherney

In today’s day and age most people would say it’s crazy to turn down business. Don’t we all need the money? And isn’t work so scarce that it’s better to take a “so-so” job than to hold out for the “yay” job that has you excited when you get out of bed?

I can definitely relate. For a long time I held onto a lot of clients who didn’t excite me and weren’t a great fit for me because I felt it was what I “should” be doing. But then I stopped – I let go – and it made such a difference not only in my business, but my passion for what I was doing.

I needed to let go because I wanted to create a place in my business for a new level of service. I created a way to work closely with a small group of people for a year and I’m giving this group my all. And I could not have done that by not getting rid of everything else.

Focus on services in your business that you love, and let go of the rest. Yes, it can be really scary. So many of us have a mentality that says, “I need to take what I can get.” But I can tell you from my experience and the hundreds of clients I’ve worked with that it’s much easier to start by saying yes to the right opportunity than it is to change later or turn around the Titanic. You don’t want to get stuck with negative momentum.

A recent client of mine was a chiropractor who had 400 patients a week. And he was miserable. Almost all his patients were workers compensation claims and personal injury. All of his marketing efforts were bringing these people in and he was getting ready to quit.

I helped him gain clarity of his ideal client, and while it was pretty detailed, he mainly wanted to work with folks focused on wellness. He started offering wellness and educational seminars and it totally transformed his business. He was able to raise his rates because people focused on wellness really valued what he was doing and he was working in line with his mission of being a chiropractor and healer.

Until he was willing to say “no” to the clients who weren’t working for him and do something different, he wasn’t seeing a change and he was getting really burnt out.

Don’t worry that the clients you say “no” to won’t be served. Refer them to trusted colleagues — your “no” is somebody else’s “yes.” (And everybody is probably much better off!)

There are so many of us holding onto things because we need the money, or this is what you’ve been doing for 20 years. But they are out of alignment with what you really should be doing. You need to create a vacancy. And when you do, the universe will find something to fill it with. But first you have to say “no” and let go.

About the Author:

Lisa Cherney, a.k.a. the Juicy Marketing Expert, founded Conscious Marketing 12 years ago to help small business owners find their authentic marketing voice, attract their ideal clients and increase their sales. Following her own Stand Out & Be Juicy program, which centers on owning your unique self and laser-focus marketing, Lisa has tripled her income while working part-time.

Prior to Conscious Marketing, Lisa worked with many Fortune 500 companies, including AT&T, Lipton, Nissan, Blue Cross and Equal. She is a highly sought after speaker and often shares the stage with experts such as Jack Assaraf (The Secret), Jack Canfield and Jill Lublin. Learn more about Lisa at www.consciousmarketing.com or call 887-771-0156.

Article Contributed by Jeff Beals

What’s your area of self marketing expertise?

Not sure what that means? Well, you have one, but it’s possible you haven’t isolated and cultivated it yet.

Before defining “area of self marketing expertise,” allow me to share how I unwittingly stumbled into one years’ ago at a cocktail party.

“You’re in real estate; you’ll know,” my friend said with an inquisitive look on his face. “What company is moving into that big office building under construction along the freeway?”
This was a problematic question for me, because I hadn’t even noticed the office building under construction along the freeway.

It was 2001, and I had just left a position in college administration for a brand-new career in commercial real estate. After two weeks on the job, I went to a party where three separate people asked me questions about office buildings, retailers and condominium construction. I must have sounded pretty stupid, because I had trouble answering all of them.

I had spent my first two weeks on the job diligently learning about the legal, technical and even mathematical aspects of real estate. But at the party, nobody wanted to know the boring stuff. They wanted to talk about the sexy, glamorous side of the industry.

Something suddenly became quite clear: It wasn’t enough to become technically proficient in my new trade. I had to become an expert on those things related to commercial real estate that were most fascinating to people outside the profession.

I made a commitment to become an expert on the most interesting aspects. I studied the local marketplace. I read every magazine, newspaper and website I could find that related to construction, real estate, business expansion and economic development. I became the “Cliff Clavin” of growth and development in my town.

Armed with a collection of eyebrow-raising stats and trivia, I had something to talk about at social gatherings. Better yet, I had material to pitch to the local media, allowing me to become a go-to source. Community groups booked me as a luncheon speaker, and I even started an economic development radio talk show. All of this public exposure was good for business.

I didn’t realize it at the time, but I accidentally discovered an “area of self marketing expertise.” Everyone is hopefully an expert in his or her profession, but an area of self marketing expertise is quite different. It consists of the most fascinating aspects of your job, company or industry.

So, what’s your area of self marketing expertise?

If you’re not sure, sit down with a few friends and explain what you do. Ask them what they find most interesting. Take notes.

Once you have decided on your area of self marketing expertise, think about how you will communicate it in an intriguing way. When that’s mastered, it’s time to put your area of self marketing expertise to work for you. Use it at networking events, in newsletter articles, in public speaking, when dealing with the press and in your social media postings.

Professionals who have well defined and carefully crafted areas of self marketing expertise will ultimately be more successful, because they never run out of interesting things to talk about. An area of self marketing expertise becomes a magnet, attracting people to you.

When people are dazzled by what you have to say, they’ll be more than happy to hire you when they need help with the more technical and “boring” aspects of your profession.

About the Author:

Jeff Beals is an award-winning author, who helps professionals do more business and have a greater impact on the world through effective sales, marketing and personal branding techniques.  As a professional speaker, he delivers energetic and humorous keynote speeches and workshops to audiences worldwide.   You can learn more and follow his “Business Motivation Blog” at www.JeffBeals.com.