The Hidden Rewards of Entrepreneurship

Are you thinking about becoming a business owner but want to know what exists for you beyond the dollar signs? Future entrepreneurs have many benefits to look forward to in addition to monetary rewards. If you’re the type of person that marches to the beat of your own drum, becoming an entrepreneur can be one of the most exciting and fulfilling things that you do in your life. The average entrepreneur experiences many ups and downs while starting up and throughout the course of their career. However, it’s these highs that make being an entrepreneur so worth it. Whether your goal is to start a small business with a few close friends or to become a larger, well-known business entity with thousands of employees, the many tangible as well as intangible rewards can be great. However, some of the intangible benefits can be hard to predict. You may find joy in the following:

Making Your Vision a Reality

Perhaps you started a business because you want to create something new and exciting that you haven’t seen before. If you like being in charge and making your vision a reality, this is the job for you. Putting your ideas into action can be very rewarding and it allows you the creative freedom that makes your work more personal and fun. If you’re currently working for an employer, creative freedom may be lacking from your position. One of the most important parts of running a business is feeding your creativity and developing business strategies and goals to make it a reality. If you invest yourself and your own ideas in your work, your vision becomes real and it gives you a sense of accomplishment. If you work with others, take into consideration their vision and work together to create a harmonious working experience.

Independence

If you’ve always hated mornings and prefer to work at night, being your own boss allows you more freedom to work when you wish. This is just one part of the independence and that comes with being an entrepreneur. While you won’t get anywhere being lazy, you have more freedom to choose when you work and how much you invest in your business. This can reduce stress levels when you don’t have to meet the deadlines of others. Make your own hours and work as much or as little as you want. You can even take vacations when you want to, but remember that the more you put in to your business, the more you’ll get out of it.

Recognition

Starting your own successful business can help you get recognition, especially if you give back to your community. Maintaining good relationships with customers, friends and family while working honorably can help you achieve a positive reputation. Not only does this help you when growing your business, it can also boost your morale and provide emotional support during the ups and downs of running your business. This is something that can be difficult to find as an employee, where it often feels like your hard work goes unnoticed. Remember that reputation isn’t everything, and there are always times where you can receive negative reviews or angry customers. This can be a learning experience, and you can hone your social skills and improve customer service skills at the same time.

Personal Satisfaction and Security

Working without a boss can provide you with a sense of accomplishment and independence. Achieving success on your own terms is one of the biggest benefits of running your own business. Spending time and money on something that you care about so much and built with your own hard work can provide a sense of accomplishment that doesn’t always come from working for an employer. Knowing that your visions and creativity helped you build a successful business provides you with a sense of security and control. You know that you can make it on your own and you don’t have to rely on an employer to make you happy. You can arise from failures and adapt to change so that your business evolves as you do. Your business may be ever-changing or remain the same, but as long as you work hard and stay attentive to the needs of your customers and the market, you’ll remain a success.

Giving Back

Providing others with a means to a living is one of the many benefits of becoming an entrepreneur. Whether you hire employees or contractors, treating them well and enjoying the fruits of your labor together can give you a sense of family and help you work toward your goals as a team. If you become a financial success, you can give money to charities, provide bonuses to your employees and provide additional perks to your employees in addition to a paycheck. Something as simple as providing lunch for your employees can really make their day, and remember that nothing you give is ever to small or too large. Happy employees help create a successful company, and a good business owner understands and caters to that idea. If you don’t have employees, you can still help out your family, friends or charities financially and this can help you feel personally fulfilled. Remember that with great power comes great responsibility.

No matter what type of business you choose to get into, you’ll experience varying degrees of these intangible rewards. Some of the most important qualities for entrepreneurs to have are drive and adaptability, so no matter what happens, you’ll be ready and willing to make the changes needed to create a healthy business that thrives. The economy is ever-changing, but if you stay true to yourself and your business partners’ needs, you can become a great success.

4 Things Small Business Owners Should Remember About Social Media

4 Things Small Business Owners Should Remember About Social Media

It is nearly impossible to have an online presence without social media. As a small business owner, you must go where the customers are. Most of them gather online on social media. Being present on social media will help your business, but it’s not going to magically increase your finances. Here are a few things you need to remember about social media as a small business owner.

  1. Social media marketing takes work. You can’t just create a page, make some posts and expect people to come running and buy your product or services. You have to reach out to them. You also have to know when to sell to them, and how to sell to them.
  2. Social media is a two way street. If all you talk about is your business, your product and what it does, you aren’t going to make any sales. You need to engage others as well.
  3. You need to be on the right social media channel. There are dozens out there. In order to determine which one is right for your company, you’ll have to do a bit of background research. Facebook isn’t right for every company; neither is Google+.
  4. If your plan isn’t working, you need to revise it. Sometimes the best plans can fall through. If your approach to social media marketing isn’t working, you’ll need to adjust it. You may have to do it repeatedly until you find something that works.

11 Ways to Tell You’re a Micromanager

11 Ways to Tell You’re a Micromanager

No one likes to work under a micromanager. It can be very difficult and stressful. As an owner or a manager, it is very important to the life of your company that your employees don’t see you that way. It can lead to problems running your business and keeping employees. How can you tell if you are micromanaging? Here are 11 signs.

  1. You are overloaded with work because you refuse to or can’t delegate tasks.
  2. You assign work to someone, then find out it’s not being done the way you think or want it to be done, so you take it away from them and do it yourself.
  3. When you assign a project, you leave little to no room for other people to make suggestions or take the initiative.
  4. You have a project manager, but you always take over their role.
  5. You rarely or never complete a project on time because you are so obsessed with the details.
  6. You have your employees check in with you frequently, all the time.
  7. No one on your team wants to be bothered with you or have a one-on-one conversation with you.
  8. Your employees need your approval for every little thing before they move on.
  9. You have a very high, unreasonable turnover rate.
  10. You question everything, down to the tiniest, most insignificant detail.
  11. You feel like nothing will get done properly unless you do it yourself.

How to Get the Most out of your Business Blog

How to Get the Most out of your Business Blog

So, you’ve decided to start a blog for your business. Good for you. However, if you aren’t using it the right way, you might as well not be using it at all. A blog can be a very powerful tool for a business, but if it isn’t being used appropriately, it really isn’t doing anything for your success.

What are the tricks to the business blogging trade? Read on to find out what you need to be doing to get the most out of your blogging experience.

Business Blogging Tips

  • Posting regularly. Creating a blog is only one part of the process; you actually have to use the blog in order to get results. Designing a blog and just letting it sit there is as useful to your business as hay is to a scarecrow. Posting regularly not only helps to keep your blog fresh and current for your audience, but it also lets the search engines know that it is active and valuable. Ideally, posting once a day will get you the most results, but if your blog is established, posting a few times a week will keep things current.
  • Post relevant information. Sure, you may have gone to an epic party over the weekend, but your audience doesn’t really want or need to hear about the event. Post information that is related to your business and that your followers will benefit from; sales, new products and services, tips and tricks, etc.
  • Share posts. Every time you write a new post, share the link to that post on your social media platforms. Doing so will allow your followers to know that you have updated your blog. 

How to be a Great Leader

How to be a Great Leader

Behind every great business is a great leader. While it’s true, some leaders are born, many more leaders are made. If you are the head of a business operation and you want to make it as successful as possible, you are going to have to take the reins and be the best leader that you can be.

Here is a look at how you can be a great leader for your business and the type of person that your employees want to work for.

Leadership Traits

  • Be passionate: In order to be a good leader, you must be passionate about what you are leading. Imagine being the head of a business that you don’t believe in and don’t value? Not a very good one; I’ll tell you that. When you are passionate about your work, it will transcend to your employees and thus, have a hugely positive impact on the success of your business.
  • Be open minded: In the business world, as in life, things can change at the drop of a hat. You have to be willing to adapt and accept changes if you want your business to thrive.
  • Get your hands wet: Does the old adage “Do as I say, not as I do” ring a bell? When it comes to leading a successful business, you have to lead by example and be willing to get your hands wet. Don’t expect your employees to do anything that you wouldn’t do yourself.

4 Ways to Make Social Media Marketing Work for You

4 Ways to Make Social Media Marketing Work for You

If you’ve ever scrolled through your Facebook page, you’ve likely noticed all of those business pages. Heck, you have probably even “liked” a lot of them yourself. However, are you cashing in on the powerful effect that social media marketing can have on your business?

If you want to boost your success, start marketing on social media channels. Here are some valuable pointers that will ensure success.

Social Media Musts

  1. Set up a Professional Page. The social media page for your business needs to be professional. It shouldn’t contain pictures of your friends, family and posts about what you did for fun last night. If you want to be taken seriously, it needs to be professional and serious.
  2. Post Regularly. You absolutely have to post regularly. If you don’t how else is your targeted audience going to find you and stay interested in your business?
  3. Post Useful Information. Make sure that what you post is useful to your audience. Post about special deals you are having; tips and tricks that your audience would find useful and other pertinent information that your ‘fans’ would find interesting.
  4. Interact. Make sure you interact with your followers. If someone posts an update on your Wall, make sure you respond in a professional manner. Say ‘thanks’ for a complement and let unsatisfied customers know you are sorry and that you are working on the problem.

Social media can be a very powerful tool for your business; if you use it appropriately

Which Characteristic Best Describes You as an Entrepreneur?

Which Characteristic Best Describes You as an EntrepreneurThere are thousands upon thousands of entrepreneurs out there, running businesses, starting businesses and thinking up new business ideas. Just as not every business is the same, neither are entrepreneurs. If you are on the quest to entrepreneurship, understanding the type of entrepreneur you are can help you to make the right business decisions going forward.

The Builder

Under this characteristic, entrepreneurs who are like a builder tend to be like chess players. They like to think ahead of the competitor, getting them into a checkmate. These types of entrepreneurs also tend to be ruthless and focused. Pretty much like a Donald Trump.

The Opportunist

A lot of entrepreneurs fall under this category. This is for those who are always looking for opportunities and being in the right place at the right time. These individuals are risk-takers, jumping into deals based on a gut feeling.

The Specialist

These are the guru entrepreneurs that we hear a lot about on the Internet. Entrepreneurs that are classified as specialists tend to stick to the same industry for decades. This isn’t a bad thing, especially if you’re trying to establish yourself as an expert in a niche.

The Innovator

This is the cool guy of the bunch who is always looking to change the game. Innovative entrepreneurs are always looking to set new trends. This individual is likely to have many different startups going within the same year because of all the many ideas that he or she has.

Best Ways to Avoid Procrastinating as a Small Business Owner

Best Ways to Avoid Procrastinating as a Small Business OwnerProcrastination can rear its ugly head at any time. For the small business owner, there’s essentially zero time to deal with the procrastination beast. Know how to spot it and how to nix it so it doesn’t cut into your productivity in a major way.

  • Know your triggers.
  • Limit your emails and social media.

Know Your Triggers

Know your triggers when it comes to procrastination. For example, if you take lunch with a friend in the middle of the work day, is it too difficult to return to a work mindset? Does other information on the Internet deter you from your objective?
Know where you’re most likely to fall victim to procrastination and do your best to remove these situations from your work day. You may not be able to do it every single work day, but you can keep an eye out for these triggers when you want to get a lot done.

Know Your Triggers

As a small business owner, emails and social media are a way of life. If they’re getting in the way of more important work, you must begin to put a cap on how often you check email in the morning or evening. It should be the same for social media.
Set aside half an hour for emails each morning and evening, along with 15 minutes for social media check-ins. Depending on how fast your business moves, you may need to add a 15 minute interval for social media during the day to take care of customer concerns in a speedy manner.

4 Tips For Running a Successful Small Business

4 Tips For Running a Successful Small Business

Running a small business is big task. Breaking down your objectives is a great way to take your small business to the next level. You want your employees to feel like a team and you want to feel you have the right people in charge to help you run your business.

  • Prioritize.
  • Stay organized.
  • Delegate.
  • Celebrate successes.

Prioritize your goals for your business. Make sure you are realistic and have the resources to achieve these goals. You want to move down the list of goals so you feel you’ve taken care of the most important things on your list. Staying organized helps these efforts tremendously. It’s up to you whether you do that through your phone, a spreadsheet or a cloud system that allows the entire team to stay updated on your goals as a company.

Don’t be afraid to delegate your work. You want to have a team who is willing and able to take on various tasks. Be a boss who is comfortable delegating work to employees and give employees the autonomy to do this on their own. You want to identify who are your key players and can take on new tasks and help the company grow.

Be sure to celebrate your company’s successes. You do not want to have a string of successes that aren’t acknowledged. You want to help employees feel appreciated throughout their productivity. The best way is to celebrate successes, which will give you and your team the boost to see yourselves through to the next goal.

3 Reasons to Start Your Business Part Time

3 Reasons to Start Your Business Part Time

There are many reasons to start your business part time, but these three are at the top of most lists. This applies to any small business, but it’s especially beneficial for the budding entrepreneur who is taking their risk with a new business.

  • You have financial security.
  • You can turn back at any moment.
  • Less pressure.

When you are on your own as a small business owner, you have zero financial security. You’re taking a major plunge and much of the time, you’re putting up your own money for your business. Financial security is something many people need as they inch their way into the world of being an entrepreneur. You want to feel confident in what you’re doing and often having that financial security behind you, allows you to have that edge to succeed.

The entrepreneurial lifestyle isn’t for everyone. You may realize this only a few months into your new business. If it’s a part-time venture, you don’t have to worry how fast you succeed. You can turn back at any time. You can also analyze your business plan and tweak it as you develop your business.

All of this leads to less pressure. Less pressure to succeed at a rapid pace can take a major weight off of you as a small business owner. You are able to analyze the market and do it at a pace that’s comfortable for you. Once your business grows, you can consider going full-time, but many entrepreneurs are happy to keep a full time job and their small business for years.