Business Entrepreneurs and Perseverance

Perseverance is an important skill every entrepreneur should possess in order to achieve success in their business venture. Without this important skill, it is so easy to seek the way out when business challenges come up.

According to the Collins English dictionary perseverance is defined as ‘continued steady belief or efforts’. This is an approach that should be consistent in entrepreneurs despite the obstacles, discouragement and disappointments they face daily.

Without perseverance in an entrepreneur’s mind, efforts become lukewarm and results unachievable. Perseverance can be difficult to discover and sustain as obstacles can become tiring and insurmountable – emotions we all need to watch out for and overcome.. These feelings are common especially to new entrepreneurs who are trying to find their feet in the business world.

The Entrepreneurial Mindset

Successful entrepreneurs usually possess an uncompromising focus which enables them to achieve their business dreams. They forgo feelings of inadequacies, negative emotions and the “I can’t do it” attitude. Their lives are centered on their business goals and persevere until the goal is achieved.

These high achievers are motivated to reach the pinnacles of business success; they are never tuned into the negative words of “it’s not going to work”. Their focus is on one thing… the goal of success.

To feel this way, you must truly enjoy what you do and be passionate about your business. When you have a passion for an idea, the other skill sets including perseverance will come naturally.

How to Develop Perseverance

Find your Passion

Collins Dictionary defines passion as a strong enthusiasm for something. Perseverance goes hand in hand with passion. Analyse yourself by asking the following questions:

  • What part of your business excites you?
  • Have you deviated from your primary business vision or are you still on track?

Sometimes being an entrepreneur can feel like a circus juggler – with business administration, marketing, customer relations and more all crying out for your time. The initial vision can become obscured and frustration can easily set in. Take control by revisiting your vision and find your passion once again.

Make Time for the Task you Love

Sometimes the mundane business tasks take so much of your time; you struggle to find time to do the things you love about your business. Do not lose sight of what made you start out in business, find time to do those things as regularly as you can. If possible incorporate it into your daily activities, as this will be the booster that helps you persevere in hard times. For example if you love graphic designs, do not get carried away with marketing and book-keeping and stop designing – create time for your passion!

Practice Perseverance

Perseverance is not developed in a day; it takes time to acquire and this comes by regular practice. When you set a task for yourself make sure you complete it before you move on to another task. Stay focused on each task you embark upon and reward yourself with little treats for a job well done and for getting closer to your overall goal.

When you find something you are passionate about, it is so much easier to find the fortitude and perseverance to wade through the challenges. This is what separates the successful entrepreneurs from the ones that consistently struggle – which one will you rather be?

How to Find a Good Business Broker

Anyone interested in buying or selling a business should always consult with a good business broker because they posses the know-how and resources to get the best price and help you avoid the devastating pitfalls of the buying or selling process. How do you find a good business broker? Well, you go out and look. Where? The internet of course, but asking someone who has sold or bought a business is also a good source and probably the better of the two. Unfortunately not everyone knows someone who has worked with a good business broker and must rely on the expansive web to begin a search.

You should begin your search before you commit to buying or selling a business. I once had a gentleman call me wanting advice on buying a coin laundry and we went through the process of buying the business, a few things to look out for and the general principles behind how a business is priced. After a little exchange of questions and answers between the two of us it started sounding as though this buyer had not done the proper due diligence and that he was possibly overpaying. Problem was… he was already under contract to purchase! At that point even the best business broker can’t help unless you are able to find a way out of the contract, which won’t be easy if the seller is getting a premium on the transaction.

A simple keyword search for business brokers will bring about a plethora of willing brokers but the trick is finding one that is good and easy to relate with. You shouldn’t be afraid to ask questions of the broker, i.e., “What’s your experience?”, “Do you have any credentials?”, etc. It’s always nice to work with someone that clicks with you.

Things process of selling a business and what a business broker can do for you are:

Step 1 is to contact small and medium sized Business Brokers for information about how they charge, what they charge and how you generally feel about them. Select a Small and medium sized Business Broker.

Step 2 is to work with your broker in establishing the most appropriate asking price and put broker and client understandings on paper in the form of a listing agreement. The listing price is the price you agree to sell the business if the broker brings a qualified buyer willing to purchase at that listing price.

Step 3 is to supply your broker with all relevant information about the small and medium sized business so that they can complete an offering memorandum. The broker will discreetly and confidentially make the market aware of your small and medium sized business’s availability including some general information about the site.

The 4th step is for your broker to screen and qualify potential buyers.

Step 5 is for you, with the help of your broker, to negotiate a price and terms agreeable to you and a buyer.

Step 6 is the removal of contingencies explained in the contract to purchase the small and medium sized business.

The final step is to close the transaction.

Your broker will continue to work with you after the sale with any remaining terms and/or conditions of the sale until the seller is completely separated from the business.

  • Educate you regarding the process and issues faced when selling a small and medium sized business.
  • Keeping the transaction confidential.
  • Conduct a pricing analysis to determine the best asking price for your small and medium sized business.
  • Develop an effective marketing strategy to sell your small and medium sized business.
  • Put the offering package of the small and medium sized business in front of the most buyers.
  • Pre-qualify potential buyers prior to divulging sensitive information.
  • Manage transactional details and paperwork.
  • Help establish terms of sale.
  • Assist the buyer in an effort to give the transaction the most potential for a successful closing, i.e. financing.

The most important thing you can do when you are thinking of buying or selling a business is to at least speak with a broker or two. The good one is the one that gets you pointed in the right direction. Most brokers, especially the one that will care for your business, will be happy to spend a half hour to an hour talking to you on the basic points.

Internet Marketing Business – Entrepreneur’s Responsibility

Entrepreneur Mindset Secret ~ YOU Inc. Take Responsibility!

Always see yourself as being Self-Employed!As an Entrepreneur you will always accept complete, 100% responsibility for everything you are and everything you will ever be.

Entrepreneurs refuse to make excuses or to blame other people for their problems or shortcomings. They have successes that they take kudos for and they have failures that they learn from. To an Entrepreneur a failure is just a slight obstacle ~ a small challenge to overcome ~ a tiny stepping stone leading o success.

Thomas Edison failed a thousand times before he perfected the light bulb and like all great and true Entrepreneurs, he never gave up!

So if you want to be a successful entrepreneur then it’s time to stop complaining about things in your life that you’re not happy about. Refuse to criticize other people for anything. You and only you are responsible for your success.

If there’s something in your life that you don’t like, it’s up to you to do something about it. Always remember you are in charge. Remember the old saying “If it is to be then it is up to me!”

The top three percent of Americans see themselves as self-employed, no matter who signs their pay cheque. The biggest mistake you can ever make is to ever think that you work for anyone else other than yourself.

As an Entrepreneur you are always self-employed. You are always “YOU Inc.”

You are always the president of your own personal services corporation, no matter where you might be working at the moment. It doesn’t matter who you work for….you are still….”YOU Inc.”

When you see yourself as self-employed, you develop the entrepreneur mentality. The mentality of a professional ~ highly independent ~ self-responsible ~ self-starting individual. And remember you get paid for what you are worth. So the more valuable you are the more money you make.

Now……..instead of waiting for things to happen, you make things happen. You are the boss of your own life, so you take charge. You see yourself as completely in control of your physical health, your financial well-being, your career, your relationships, your home, your car, and in fact every element of your existence. This is the mindset of the truly excellent person.

Entrepreneurs are intensely result-oriented. They take high levels of initiative. They volunteer for assignments and they’re always asking for more responsibility. In other words they always “Step Up To The Plate”

As a result, they become the most valuable and respected people in their organizations. They continually prepare themselves for positions of higher authority and positions in the future. If you are serious and truly want to be a successful Entrepreneur then you should do the same.

Ask yourself this question: If you were president for a day in your company, or were completely responsible for results where you work, what one change would you put into place immediately?

Whatever it is, write it down, make a plan, and begin on it today. This decision alone could change your life.

Click Here to see how a successful Community of Entrepreneurs are taking the world by storm!

Secret of an Entrepreneur

YOU Inc. ~ Take Responsibility.

Vested Business Brokers

Hiring the expertise of a vested business broker is a good strategy, especially when doing business. If you are thinking of buying or selling your business, the foremost thought on your mind is, of course, how you will be able to optimize your sale or purchase. Getting the services of a reliable and knowledgeable vested business broker can make a huge difference.

Vested business brokers act as the middlemen between buyers and sellers. They may have ready resources, such as a long list of clientele who are ready to make purchases or people who are itching to sell businesses or properties. Vested business brokers may also be in contact with a wider network that, in turn, can put you in touch with more possible buyers and sellers.

Aside from these perks, the services of vested business brokers usually include some form of promotion, like advertisements and publicity, which can speed up the sale or purchase of your item.

Business deals, such as the buying and selling of a business or property, usually includes a fair amount of paper work and can take up a lot of your time. If you do not want to be bothered by the technical details, then you can hire a professional to address your needs. Vested business brokers can take care of everything from setting up meetings, making credit inquiries and even doing your paperwork. With these people at the helm, all you need to worry about is getting a fair deal.

The buying and selling process can be complicated. Many of the business dealings involving buying and selling can be taxing. That is why you need someone reliable who will take care of your assets and your money. You want someone who is smart enough to know a good deal when he stumbles upon one and turns away from a bad deal as soon as the warning signs flash.