Time Freedom
More time to spend with family and friends, no more " punching the clock"
Tax Write-offs
For the self-employed just everything is a write-off
Financial Independence
You have total control of the amount of income you can ear " profit is better than wages"
Self-fulfillment
The feeling of personal success
Lifestyle
The opportunity to create your own enviroment and live in abundance
As you can see the world of the entrepreneur seems very rewarding, but all cannot be accomplished without hard work, determination, and the ability to envision your own success...
Below are the 9 types of Entrepreneurs,
Adviser
Some Entrepreneurs are paid for giving advice, such as lawyers, accountants and financial advisors.
Administrator/Organizer
Like organizing? You can plan weddings,oversee projects or take care of databases, accounts and order fulfillment
Builders/Creators
Artists, bakers, carpenters and designers are examples of entreprenuers driven to create something tangible where it did not exist before.
Caretaker
People with a helping personality finds opportunities taking care of people, plants or property.
Communicator/Trainer
If you can transmit information or communicate in different languages you might find demand in sales, marketing,writing, training or a variety of information services
Entertainer/Host
If you thrive on being with people , you may find an entrepreneurial opening in the hospitality industry or service industries such as hairdressing, or you may be an entertainer, actor, musician or singer.
Investor.Owner
If you have money to invest you can put your capital to work for you investing in stocks, real estate or businesses
Seller
This covers salespeople and brokers in our purchases, from real estate to insurance art.
Technologists/Engineer
If you love figuring out computers, autos and engines, you may want to explore entrepreneurial opportunities in software development, engineering or technology
The perfect method in finding out your ideal entrepreneurial pursuit would be to identify which area you fit into and to use your talents to create your own intended lifestyle.
In this next section I will be discussing the main ingredient needed to be an opportunist in your everyday life.
SOLVE PROBLEMS
The Key to becoming successful as an entrepreneur is the ability to solve problems
I'm sure you're aware of many problems in your community, your city, amongst your social groups or even within yourself. This is the most crucial skillset any entrepreneur must learn and develop if they truly want to create any kind of wealth in business and also in life. The next step is to solve whatever the problem is by offering a solution , and in this case , would be your product/service.
For instance, let's take a look at the telecommunications industry.
A few common problems people face with their cellular phones are poor reception, damge due to water exposure , misplaced or lost cellphones and many others. As an entrepreneur you can help solve these problems by offering your products/services into the marketplace.
In the event of poor reception you can signal boosters, for water exposure you can create or sell protective cases, also in the case of a lost cellphone which happens almost everyday you can offer a software such as a
GPS tracking system to locate missing phones. A major issue facing the consumer nation is identity fraud ,
you can tap into this market by offering anti-fraud software or even providing ongoing online information
to help protect consumers.
The ability to seek out current problems or arising needs requires a certain level of intuitiveness combined
with a strong business sense.Not to despair, this skillset can be learned and developed to the point where
you will develop the true entrepreneurial mindset and increase your potential to offer a profitable product or service. Again, the keys to building a successful business is finding a problem and creating a solution using your product/service.
THE PAIN & PLEASURE PRINCIPLE
Every decision we make as individuals relies on two governing bodies,
" The desire to avoid pain and the desire to attain pleasure"
In everything we do, these two factos come into play and are fundamental in our everyday decision-making process. It is human nature to move towards things that give us pleasure and to avoid circumstances that bring us pain, thus " The Pain & Pleasure" principle.
This concept can also be applied to the selling process which must be mastered by every entreprenuer in order to achive success in his/her business. It goes as follows,
First in the sales processs is to identify a PAIN or problem that the customer is having, you must stir up enough PAIN in the customers eyes for them to reach a level of dissatisfaction and to make them believe in their minds that they are "missing out" on something or they are not benefiting. This is also known as a state change where you as a salesperson must place in the consumers mind or also known as " painting a picture" . The next step would be asking questions to find out more of your consumers needs or belief systsem so you can adjust your sales pitch to their perception of reality.
The final step would be showing the customer how they can attatin PLEASURE through the use of your product or service.
This is the mastermind process for acquiring any customer and also essential in selling your ideal product or service. If your customer does not buy or is still in hesitation to purchase your product/services after you have completed your sales process, is that you have not created enough HURT or PAIN in the beginning.\
The customer must believe 100% in there mind that they can and will achieve PLEASURE in using your product/service...
Let me give you an example, we'll go back to the telecommunications industry
Problem/Issue - Poor Reception, Weak Signal, " Dead Zones"
INIATE PAIN
Are you tired of poor cellphone reception?
Sick and tired of dropped calls?
Are you tired of dead zones?
As a business owner, wouldnt it be devastating to lose and important call due to poor reception?
What if you were in the middle of a call with a family member?
Or worse, a phone interview with your first job offer out of college/university?
* Next step - Introduce your product/service ( associate "PLEASURE" with using your product/service)
" Say goodbye to dropped calls, poor reception and dead zones with the _____________
( name of your product)
List Benefits & Features
Improves signal strength & battery life
Freedom to use your cellphone anytime & anywhere!
Prevent harmful radiation due to weak signals
" save on your monthly bills by removing your landline and replacing it with your own cellular booster!"
Also keep in mind to ask the prospect questions, to build more of a rapport,
Have you experienced any poor reception recently or any dropped calls?
Are you aware fo the high potential for radiation in cellphone users that experience weak signals?
How much are you paying right now on your phone bill?
Do you know you can save more by having your own indoor signal booster?
At the end of the sales process is extremely esential that you close the prospect ( ask for the sale)
Another great tip is to get the prospect to make an immediate decision to buy now or act now, and if they don't that they would be missing out on a large scale if this is impacted on your prospect will not buy.
I hope you learned a lot about using this principle as this will be one of the greatest assets to your success as an entrepreneur . This process is crucial in winning over prospects and it is the power behing giving your product or service the representation it needs...
STEP UP FOR YOUR FREEDOM
At this point I would like to thank you for taking the time to go through this guide.
I truly hope you have a more in-depth perspective of what it takes to be an entrepreneur in today's economy.
This guide was designed in mind to provide an outlook into the eyes of the entrepreneur and to give you a deeper understanding of their world. The benefits of going into business for yourself can bring many rewards,
such as time freedom, independence and also unlimited income potential!
Keep in mind that the road may be tough but the end result can be the utmost satisfying.
Below I have included 6 problems skills entrepreneur must possess to build a successful business, enjoy and good luck on your journey!
1. Critical Thinking skills
The human brain has been indentified as the most powerful data processing machine but unfortunately; only few people ever utitlize their brain power. Critical thinking is the ultimate key to problem soliving and is the most important problem solving skill you should develop.
Napoleon Hill said that all achievements begin with an idea and ideas are the product of critical thinking. Critical thinking skill is important because it enables entreprenuers identify problems and turn such problems into opportunities. Business and Financial intelligence, competence, idea generation and strategic project execution are all results of critical thinking.
Most intricate business problems have been solved by challenging the brain to come up with solutions.
Business challenges and problems can never be resolved without critical thinking; done either by the entreprenuer or business team . Just as Robert Kiyosaki says " your brain is your most powerful asset".
Now how do you develop your critical thinking skill? Well I think thats an answer for another day.
2. Understanding of the business
The next problem solving skill you must develop is thorough understanding of the business you are involved in , and this skill is not one you can develop in your closet; it's a skill you develop by putting yourself on the line, it's a skill you develop by getting your hand's dirty.
Thoroughly understanding you business to the core is a product of experience; a product of staying in the game through thick and thin. Just as critical thinking is important to the process of effective problem solving in business; so also is understanding a core value to problem solving. Before critical thinking comes understanding.
Now how do you solve a problem when you don't understand it's workings or "root cause"?
How do you solve a business problem you don't understand? Let me cite a real life illustration so you will better understand my point. Bill Gates became the richest man in the world because he was an expert at
solving software marketing problems. Donald Trump became a billionaire because he solves problems relating to real estate, and George Soros became successful because he was an expert at handling market volatility. These successful enterprenuers became billionaires because they thoroughly understood their line of business.
Now what if Bill Gates was presented with a problem relating to stock investing; will he be able to solve it?
The answer is "no". Why? The reason is because Bill Gates doesnt understand the intricacies of the stock market.
Now how do you gain understanding of your business? I don't know but a good way to start is by solving small problems arising from your business and taking note of it s lessons. Understanding comes from experience and experience is all about being involved with the business process. You can also increase your level of understanding by attending seminars, reading books, listening to experts, magazines and analyzing industrial trends.
3. People Skills
The third critical problem solving skill you need to develop is people skills; but I prefer to use the word
" team spirit". To become an excellent problem solver; you must learn to think critically in solitude as well as part of a team.
Business and investing are team sports, and to suceed, you must learn how to think in synergy with your business management team. You must be able to assemble different experts from different walks of life and channel their intelligence to the problem at hand. This can never be achieved without a mastery of people management skills.
4. Faith
The fourth problem solving skill you must strive to develop as an entreprenuer is faith.
The Holy Bible says that " with faith, you can move mountains". I listed faith as a skill because it is a trait
you are not born with ; you develop it overtime by increasing your spiritual understanding and knowledge.
Is it possible to solve a problem you have lost hope on? The answer is "no".
To find an effective solution to a business problem; you must believe that a solution exists, you must have a firm belief that the problem can be solved. Faith is important to critical problem solving because it keeps the mind focused on finding a solution to the problem; rather than lamenting over the problem.
Just as Ingvar Kamprad says " the word impossible has been deleted from our dictionary"
5. Decisiveness
The next critical problem solving skill needed by every entreprenuer is decisiveness. After analyzing several
possible solutions to the problem at hand; you must be able to arrive at a decision quickly.
Take a look at successful entreprenuers that solved intricate business challenges and societal problems; and you will see decisiveness at their core.
Henry Ford , Bill Gates, Donald Trump, Andrew Carnegie, Richard Branson, and Larry Elison are entreprenuers that became famous because of their ability to reach decisions quickly.
6. Courage
The last skill you need effectively to solve problems in business is courage.
Courage to face your problems squarely, courage to face the consequences of your decision ;
the courage to take extreme measures or solutions. Just like faith,courage is developed over time through personal mastery.
In conclusion, these are six important skills required to effectively solve intricate business problems.
Develop these problem solving skills and I will see you at the pinnacle of success...
