Running a small business in today’s economy is no easy task. According to Forbes, around 80% of small businesses fail within the first 12-18 months. Without a doubt, running a business requires a great deal of determination, passion and patience. But if you have an idea for your own start-up, don’t be deterred from opening up shop. Some of the biggest companies in the world began right where you are now and they had their tough times too. It’s important to realize that there will be difficult moments along the way but if you can get through them, you and your business will be stronger and better equipped for it. These hurdles can difficult to overcome, particularly if this is your first stab at the business world, but if you can stay positive and determined, your success will be all the sweeter.
Because of the general bad shape the global economy is experiencing currently, finding useful financing for small businesses can be easier said than done. People are afraid to invest in something that has a 50% fail rate. This can be especially true if your business is attempting to compete against a larger, corporate conglomerate. But don’t be discouraged, there are small business loans, business credit cards, and there are also grants for specific groups like women in small business, non-profits and educational grants. Try using social media sites or online crowdfunding applications like Kickstarter to help you build your business. You have to be creative with your fundraising and be prepared to not receive all the funding you initially set out to get, but if you can stay determined and work hard at raising the money, you’ve already won half the battle.
Whether you’re a seasoned business owner with years of experience under your belt or an aspiring entrepreneur making your way across a sometimes treacherous landscape, it is always good to know you’re not alone. And one way that you can find that commonality with others is through inspirational quotes.
Quotes have the power to encourage us, to get us through the rough patches and celebrate those hard-won successes! So with 2014 right around the corner, I have gathered some tidbits of knowledge and encouragement from a wide range of leaders, visionaries and people who through perseverance and unwavering vision became a success.
1. “The most difficult thing is the decision to act, the rest is merely tenacity.” – Amelia Earhart
2. “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails. Explore, dream, discover.” – Mark Twain
By David Nilssen, CEO & Co-founder, Guidant Financial
Follow your bliss. We’ve all heard this simple advice, stated succinctly by writer and mythologist Joseph Campbell. We’ve heard it so often that maybe we’ve lost sight of Campbell’s intent. It wasn’t permission to do nothing, or to squander our gifts. In saying “Follow your bliss,” Campbell exhorted us to action. To proactively seek out what we’re passionate about and build a life around it. After all, if you’re doing what you love, it doesn’t feel like work—but you can make it your living.
With technology ever evolving and online collaborations on the rise, minute taking can seem like an old-fashioned approach to recording a business meeting. However, it does still have its place and can benefit a business in numerous ways, especially those who are new to running a company and start-ups.
As a quick refresher, minutes are notes recorded by an allocated individual, often a PA or secretary, in order to summarize what has been discussed at a meeting. Done correctly, they will highlight the meeting chronologically and succinctly, including important information such as event dates, deadlines, who said what, budget concerns and suggestions.
Why are minutes important?
Minutes are important for a number of reasons. To begin with, it’s important to have a record of meetings that have taken place in order to act on information. Often, once out of the meeting, important information may be forgotten, so having that record gives everyone involved a reference point when it comes to carrying out what has been discussed.
My mom and me!
One of my earliest and strongest memories from when I was a little girl was watching and getting ready for the day every morning with my mom. Mom got ready for her work day while simultaneously making breakfast and helping me get ready for school. My mother ran the Anesthesia Laboratory at UCLA and it was a job that took up a lot of her time. Despite the constant hubbub at the hospital she dealt with, I also have vivid memories of her still attending each one of my cheerleading games and of her picking me up after school every day, without fail. Even later in life, when I had my own kids, she graciously watched them one day a week for me up until she retired – and now she’s at least two days per week!
All throughout my childhood and young adult life, there was no other option in my mind to be when I grew up than a hard-working career woman. My mom taught me from a very young age how to be strong in the workplace as well as in every other facet of my life.
Ever wonder what a vision statement is and what it can do to impact your life? Join Summit Journey Coaching on April 26th to learn more about the importance of having a vision statement by enrolling in one of their coaching classes with a one month free trial!
Summit Journey works to help you answer the question, “Is your life where you want it to be?” and helps to get it there in 15 minutes a day utilizing online success coaching. By enrolling before April 26th, users will be able to access a recording in the Summit Journey March lesson on becoming 25% better at decision making as well as have full access to all of the site’s tools and student community to work on implementing the lesson.
Enroll today to begin applying these coaching lessons into your everyday life!
Save the date! On December 19th at 8 AM PST, success coach Ed Kelly and the gang at Summit Journey Coaching will be providing a webinar on “Why Resolutions Fail but Goals Succeed.”
In this webinar, you’ll find out why resolutions tend to fail but goals succeed in the long run and how you can be at least 75% more likely to accomplish what you want in 2013 by writing down your goals.
Register now (for FREE!) and rise and shine with Summit Journey Coaching tomorrow – they want to help you get started on planning your goals for 2013!
As a business owner, you’re no doubt very familiar with long days and sleepless nights. Depending on your company’s size, you may have already figured out that babysitting, counseling, marketing, payroll, P&L, ROI, accounting and planning and hosting the company holiday party, are just a few of the many hats you’ve become accustomed to wearing throughout your daily life.
If you are just starting out, or perhaps thinking about launching into the entrepreneurial world of business, hang onto your hat(s). You’ll need to learn how to wear them all, whether they fit or not, if you want your dream to become a successful reality. Continue reading
We had a slight hiatus from our weekly ABC’s of small business, but this week we’re back with the letter E! And what better to immediately come to mind than our favorite type of person, the one who takes the plunge and follows their heart to start up that side project they’ve been hard at work at and are passionate about, than the entrepreneur?
Entrepreneurs are the backbone behind any great business, big or small. They organize and operate a business, monitor the activities within it, and take financial risks to starting up their company and keeping it going and the great word of mouth spreading.
How can you tell if you’re an entrepreneur at heart? You may have a few of these characteristics: Continue reading
Despite the fact that the world of entrepreneurship has been largely male dominated throughout history, the tide seems to finally have shifted, and over the last 20 years or so, women have been starting businesses at a higher rate than men.
Crystal Culbertson and Lisa Hufford may not be household names like Mary Kay Ash and Oprah Winfrey, but they both founded companies that made more than 10 million in revenue in 2010 and have experienced enormous growth in the last three years. How much growth? Try over 3,700% for Hufford’s consulting company, and more than 16,000% for Culbertson’s IT firm. Continue reading