Archive for the ‘Business’ Category
People keep asking me about starting their own businesses. They have an idea, see its potential, but don’t know how to get started.
It takes four skills to be successful in business. Every successful entrepreneur has them, and I have personally applied them in my own businesses with great success. Nobody taught them to me when I started out 12 years ago. But I am going to show them to you. Today, I am going to reveal these four essential skills for business success. And I am even going to share practical actions you can take to master these skills.
Click on the video still below to watch the video, download the transcript and participate in the conversation!
If you are coming here after my talk at Prerna – Entrepreneurship Seminar at SFIMAR today, welcome to a budding entrepreneur! What follows is a collection of my best articles on entrepreneurship from last 4 years.
My Best Blogs Posts for Entrepreneurs and Startups
- How to pick a co-founder?
- Are you a ‘scale-first’ or ‘money-first’ entrepreneur?
- Entrepreneur’s Lesson: Be Frugal, Avoid Temptations
- 5 Things That Changed My Life, and Could Change Yours
- Avoid these customers – five warning signs to say no to customers, plus three signs to die for
- 8 Traits To Be Great
- What’s the formula for Genius?
- Apple’s Marketing Secrets
- Life is about personal leadership
- Startup School 2008: Key Takeaways, from OnStartups
- The Art of Speed
- 10 Resolutions to boost your business
- Seven ways to avoid the growth traps
- Personal Brand – steps in creating a powerful personal brand
- Deliver Authentic Leadership – Robin Sharma
- HP’s Rules of Garage
Remember, there is equal risk in jobs and business
You will be concerned about four things when you consider starting on your own:
- Entrepreneurship is too risky
- It takes too much time
- Business requires significant skills and confidence
- (and best of all) Starting your own business needs lot of money
Consider that first three concerns apply to doing a job as well. As for money, it’s really about cashflows – both for individuals and businesses. If you have an urge, don’t wait, start something of your own. You can do it over weekends, you can do it on a small scale, but just do it!
And yes, you don’t need to be the poster boy of entrepreneurs, you don’t need huge successes
Most people talk about dreaming big and huge successes and the glamor around entrepreneurship. The truth is, you don’t need to be hugely successful. What matters is whether you are happier being on your own and making more than what you would have made in a job. You don’t need to grow to be the biggest company. You just need to follow your passion.
Go out, start something!
If your business accepts payments via Paypal, chances are you login to the Paypal website a few times in the day to check your balance. You would even keep an eye on email alerts of new sales and feel happy when you close the day with good sales.
The Entrepreneur’s Urge
I can tell you from my own experience that I am on the edge of my seat when we launch a new product. I am biting my nails when we push “Send” on a newsletter with a special offer. I am curious to find out how much money I made while I was sleeping, and check my Paypal balance the moment I start my computer.
You may be a web entrepreneur, a microISV, a startup or an expert offering online courses. The urge to see how well you are selling is common to all. You may be looking forward to the first sale of your newly launched product or want to track your monthly performance against your targets.
Logging in Paypal takes time. And if you keep it idle the session also times out quickly. Now this is good for Paypal, but bad for us. All we want to do is check the Paypal balance and find out what products are selling. We want some quick bits of information and get back to our work. The process of logging in and viewing details eats up time. And biggest, it distracts you!
The Solution: Putler
Now sure, you can write-up a small program that will check your Paypal balance. You could host it on your internal server and keep hitting it when you feel like satisfying your natural urge to check your Paypal balance! But why to make things complicated (and spend time understanding and building those scripts) when you can have someone give it to you on a platter?
Putler shows your Paypal balance on your desktop, notifies you of balance changes, lets you set a target, shows today’s transactions and tells you how well are you doing against the target. It’s a simple and effective tool to watch your Paypal account right from your computer.
Just give your Paypal API information to Putler and he will start monitoring your Paypal balance. He will gently notify you when the balance changes. He even draws a nice chart of your daily balances along with a target you may have set.
This gives you a never before visibility on targets vs performance for your Paypal business account.
Apps Magnet Launches Putler Alpha. Get it now for free!
We are releasing a public Alpha of Putler today. Get it free, monitor your Paypal account, achieve business goals, and give us feedback!
We are starting with only the basic features, but will make Putler smarter and stronger as he grows! Do send in your ideas and suggestions on how we can make him better!
Ravi Malagi sent this to me and I found it worth sharing.
Don Miguel Ruiz‘s Four Agreements – code for life and personal development
Agreement 1: Be impeccable with your word
Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.
Agreement 2: Don’t take anything personally
Nothing others do is because of you. What others say and do is a projection of their own reality, their own dream. When you are immune to the opinions and actions of others, you won’t be the victim of needless suffering
Agreement 3: Don’t make assumptions
Find the courage to ask questions and to express what you really want. Communicate with others as clearly as you can to avoid misunderstandings, sadness and drama. With just this one agreement, you can completely transform your life
Agreement 4: Always do your best
Your best is going to change from moment to moment; it will be different when you are healthy as opposed to sick. Under any circumstance, simply do your best, and you will avoid self-judgment, self-abuse and regret.
When you are starting your own venture, be frugal. Whether you are putting in your hard-earned savings or have investor backing, take care of every penny you spend.
Cut down on:
- Fancy office setups & employee facilities
- Expensive hardware, software, equipment and gadgets – you don’t need to flaunt
- Number of employees – work with small number of talented, all rounders
- Traveling and related expenses – use VoIP / Video conferencing
- All expenses!
Staying cashflow positive should be the number one priority for a startup. Bootstrapping is the best entrepreneurial model. Do whatever it takes to generate your monthly cashflow from the business. Set a limit for yourself – you will never go cashflow negative for more than 2 months.
And once you get the cash, be even more watchful. It’s easy to waste money on promising opportunities / people / technologies.
(Image courtesy Buster Benson)