So You Want to Be Your Own Boss...

8 tips to get you going, even if you don't know where to start

If you want to start a business but don't know where to start, don't worry--you are not alone. In fact, given the new economic reality of our time, more people than ever before have found the "job" they thought was waiting for them doesn't exist. Others have come to the conclusion that they would rather create work they love, constructed to fit with their own life goals. No matter what the motivation is to be your own boss, you can start today.

Here are 8 Tips to Get You Started:

1. Take a Stand for Yourself.
   If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn't do any good to blame the economy, your boss, your spouse or your family. Change can only occur when you make a conscious decision to make it happen.
2. Identify the Right Business for You.
   Give yourself permission to explore. Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself "What gives me energy even when I'm tired?"
   
   How do you know what business is "right" for you? There are three common approaches to entrepreneurship:
   
   Do What You Know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.
   
   Do What Others Do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.
   
   Solve a Common Problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.
   
3. Business Planning Improves Your Chances for Success.
   Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.
   
   Ask yourself the following questions:
   - What am I building?
   - Who will I serve?
   - What is the promise I am making to my customers/clients and to myself?
   - What are my objectives, strategies and action plans (steps) to achieve my goals?
4. Know Your Target Audience Before You Spend a Penny.
   Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you do. You can do this by validating your market. In other words, who, exactly, will buy your products or services other than your family or friends? (And don't say. "Everyone in America will want my product." Trust me--they won't.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?
   
   There is industry research available that you can uncover for free. Read industry articles with data (Google the relevant industry associations) and read Census data to learn more. However, the most important way to get this information is to ask your target market/customers directly and then listen.
5. Understand Your Personal Finances and Choose the Right Kind of Money You Need for Your Business.
   As an entrepreneur, your personal life and business life are interconnected. You are likely to be your first--and possibly only--investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step before seeking outside funding for your business. This is why I recommend setting up your personal accounts in a money management system such as Mint.com to simplify this process.
   
   As you are creating your business plan, you will need to consider what type of business you are building--a lifestyle business (smaller amount of startup funds), a franchise (moderate investment depending on the franchise), or a high-tech business (will require significant capital investment). Depending on where you fall on the continuum, you will need a different amount of money to launch and grow your business, and it does matter what kind of money you accept.
6. Build a Support Network.
   You've made the internal commitment to your business. Now you need to cultivate a network of supporters, advisors, partners, allies and vendors. If you believe in your business, others will, too.
   
   Network locally, nationally & via social networks. Join networks like NAPW.com, your local chamber of commerce, or other relevant business groups. Here are some networking basics:
   
   - When attending networking events, ask others what they do and think about how you can help them. The key is to listen more than tout yourself.
   - No matter what group you join, be generous, help others and make introductions without charging them.
   - By becoming a generous leader, you will be the first person that comes to mind when someone you've helped needs your service or hears of someone else who needs your service.
7. Sell By Creating Value.
   Even though we purchase products and services every day, people don't want to be "sold." Focus on serving others. The more people you serve, the more money you will make. When considering your customers or clients, ask yourself:
   
   - What can I give them?
   - How can I make them successful in their own pursuits?
   - This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will appreciate.
8. Get the Word Out.
   Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news. Use social networks as "pointer" sites; i.e., to point to anything you think will be of interest to your fans and followers.
   
   Even though social networks are essential today (you must use them!), don't underestimate the power of other methods to get the word out: e.g., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.
   
   If you take these steps, you'll be well on your way to becoming your own boss. It's important to remember that you are not alone. If you want to "be your own boss" but you still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.

Fake Talks Of Entrepreneurs!

As the buzz word goes about the new and old entrepreneurs, their achievements, their goal settings, their targets, I really wonder sometimes in pain, whether these are all for true? And any person with good knowledge about markets and companies would have a benefit of doubt, if entrepreneurs keep pitching about their sales and their achievements. If they pitch, it's for good results, as we know till what extent they can lie. Having been in this industry, for quite some time now and as a serious blogger, mind my word "Serious" I am here to get you all the insights which goes inside the industry, for what you can call as, "Inside story" which no newspaper, or TV channels would ever air on their sets. Its not a very perfect low down on all the fakes, but yes, you will get some idea about the actual things going on in the organization.

Having attended varied programs of entrepreneurs throughout the year for product launches, or new business, or workshops I had a huge list of pitches said by them, I have narrowed down them to few which are the most commonest of all, hope you enjoy reading them.

1. The entrepreneurs are never conservative, we know this fact but still they will say our approaches are very conservative and that it will grow manifold in 4 years of time but if you calculate their targets even after 5 years, you will get the same figures.
2. The new firms while delivering their idea of company, have varied slides presenting you with huge figures of how their product trend would be in market, even when its just selling a few plastic bags, they have projections showing you in millions. Their common and most favorite statement is, "We estimate to grow by $30 million by the year so and so".
3. Some companies don't even fear putting the names of big companies as joining them, they will say so and so company is going to sign contract with us over the next few weeks from now. This is not the first time statement, I have heard this hundreds and thousands of times till now, but the bigger company is nowhere in picture.
4. They go on to speak up to the length that CEOs of some famous companies are going to join their company by looking at their progress and talents, and when you actually know, the big giants are never going to join such small enterprises by ditching their big multinational companies.
5. The new entrepreneurs will often have something to boost about their current technological developments, they go on to say that, no one works like we do. They try to say ours way of working is really unique and new technologies are being used at their workplace. They will add up, the market for such type of products is new so as soon as the product picks up, it is going to boom in a big way.
6. In reference to the above point, they will go on to add, no one is doing what we are doing, because they have superior knowledge and skill set to blow away the markets across the continents. Now, if it's a new company it doesn't bother the market people, the same types will spring in the next 90 days or so. So what, if they are newly graduated, the people in their batches have the same knowledge, so why fret about it?
7. To add a topping to a pastry, they will ask you to hurry up and invest money in their firm only for the reason that other bigger firms are interested in them and if they invest, you cannot invest. Even when you go to them after 6 months, they will invite you to come and have negotiation, may be at much lower the initial price they offered. This is business and anything and everything can happen here in the business world of entrepreneurs.
8. When they talk about their professional management team, by this, are they talking about the intern who worked with multinational company, or a summer job? When a person is a true professional joining them, the very first priority for him would be the older organizations, the new organizations are not where he would probably join. So even their professionals are new to join, without experiences.
9. Now this is the biggest lie of all, at the start, where they are talking about $30 million after 10 years time, they are just looking for 1% of the market. Now this is contradictory, how can they seek to capture just 1 percent of market share, when its going to be some million dollar company?

These are some of the funniest and the most likeable and favorites of entrepreneurs to speak during their inauguration of company or during some seminar, if you are already well settled with business there is no need for you to get carried away by such bull-shit talks. If they are so confident then let them be, the future will tell!

Famous entrepreneurs

Behind all the successful bigger organizations of today lies a story that is bound by a sheer hard work and the power to attain their own human goals and values. The famous entrepreneurs of today are made up of a successful stories that are valued and time tested to give the perfect results. Any person can become successful in life provided he is determined to get things done and has a belief to attain life's goals. Today, I am going to share the famous entrepreneurs who have invented products that are remembered for centuries together and their services are still touching millions of lives worldwide. The rich and famous accumulate their wealth for good reasons sometimes I feel, for the common cause of giving away their money to charities and helping the people of poor, underdeveloped countries. The good famous entrepreneurs have made a great success stories by creating jobs and earning for life through their hard earned efforts. Lets discuss few entrepreneurs who have made history:

• Bill Gates

  Everyone knows him around the world, a small toddler going to a pre-school would know who the person is. He developed a world of computers, today we cannot think of life without computers and especially WINDOWS. I am so excited to write about him first, because I was one of the fortunate ones to see his new house being built in Beverly Hills, Los Angeles during my recent trip to the US. Wow, what a huge house it was! I was truly excited to atleast see his home if not him. Well, coming back to our topic! His company Microsoft raked in US $36.84 billion for the year 2004 and employs around 55,000 employees, by now I am sure the revenue figures may have soared to double.

• Steve Woznaik

  The Apple computers. Everybody wants to use Apple computer because of its key features and I keenly take pride in using one. Although, I have one basic model now but planning to buy a good Mac book Pro sooner. His is truly a success story; he was very passionate about bringing computers to everyone's lives. It was in the year 1977 that he started to build personal computer. Their first company and office began in a garage, they sold off their Volkswagen and calculator to raise $1,300 for their venture. Within six months of time, their company was amongst the Fortune 500.

• Oprah Winfrey

  She is the woman behind Harpo Inc. "The Oprah Winfrey Show" was one major hits on the national television of United States. The HARPO productions were started in the year 1986 which spelled "Oprah" backwards. The company is based in Chicago and Oprah is the only woman in the history to own and produce her own talk show.

These are just the three of them who I truly admire and respect for their achievements in life. Some of the other names are Michael H. Jay Arrington – Harper-Arrington Publishing and Media, Steven Spielberg – Dreamworks, Vera Wang – Vera Wang Fashions, Russell Simons, Sean Combs – Sean John Clothing, Sam Walton – Walmart, Gordon Moore – Intel, Tyler Perry, Paul Orfaleo – Kinko's, Mike Ilitch – Little Caesars Pizza, Bill Hewlett – Hewlett Packard, Mark Burnett – Television show producer, Ted Turner, Larry Page and Sergey Brin – Google, James Kimsey – AOL. The list goes endless, these people have truly created wonders by creating an altogether a new industry and lots of people have got benefited by showcasing their real talents.