7 Unusual Habits of Successful Entrepreneurs To Boost Daily Productivity

MARCH 3, 2015
STARTUPS AND ENTREPRENEURSHIP

7 Unusual Habits of Successful Entrepreneurs To Boost Daily Productivity

Entrepreneurship isn’t for the faint at heart. Founders must forge their own path, gather resources and take on huge financial risks – all in the hopes of avoiding the fate that 80 to 90 percent of startups suffer: failure.

So to be successful, entrepreneurs really have beaten the odds – especially young entrepreneurs. Starting with almost no wealth, network or business experience, many create more success in a few years than most people do in their entire lifetime.

To understand what they do differently, we interviewed several young entrepreneurs from this year’s Empact Showcase, an annual program highlighting the power these founders and their companies play in the community.

Rather than focus on generic insights or basic hacks, we looked at unique, concrete habits you can immediately adopt in your life and business that can have a game-changing impact.

1. Create A Regimented Schedule.
My overarching goal is to be consistent in my schedule, and as a result, I live a lifestyle that allows me to maximize the amount of work I get done. I believe this type of prioritization has made a huge impact on how quickly Fueled has grown.

My dinner ends at 11 p.m., and I always have a solid work session afterwards until 3:30 a.m. Setting aside a block of time in my schedule for uninterrupted productive creation is vital to my work process. It’s when I answer emails and do my thinking around bigger ideas without any distractions. Then I go to bed every day at exactly 4:00 a.m. and typically wake up without an alarm clock. Other people might want to focus on other areas, like family, but a consistent schedule is key.

2. Ask Yourself This Question Before Going To Bed.
Every night before bed, I think about this question: If I live every day the same way I did today, what kind of future would that create? It forces me to constantly evaluate whether or not my actions are lining up with my priorities. The future is shaped one day at a time, and it’s never as far away as we think.

3. Take An Adventure Walk Every Weekend To Connect The Dots.
Every weekend, I go on a long hike in a place that I’ve never been before. I do the research in advance and sometimes, I drive as far as an hour away. My hikes are anywhere between one and four hours long. I take an old-school composition notebook with me, and I let the thoughts come; I don’t force anything.

The habit helps to relieve stress and unpack the ideas from the week. It’s kind of like meditation. By constantly evaluating ideas and how they fit into your business, you can slowly render them into reality and watch your imagination unfold.

As an added benefit, research in the new field of inactivity studies shows that moving around daily is critical to health. In fact, sitting for an hour is worse than smoking two cigarettes, according to another study.

4. Take A Hot-Cold Contrast Shower Every Morning.
My most unique personal habit is the hot-cold contrast shower. I’ve done it every morning, no matter where I’ve lived or what hotel I’m staying in, for 14 years. By doing 30 seconds of ice cold water, followed by 30 seconds of hot, then 30 seconds of cold water (always ending with cold water), I gain the energy and clarity to start my day feeling refreshed.

To get started in this habit do a normal shower. Then crank the water as cold as it goes for 30 seconds. Then crank as hot as you can stand it for 30 seconds.Then ice cold for 30 seconds (this cold-hot-cold is one cycle).

I’d start with one cycle for the first time. If it’s too much, try it on the legs first. (That’s what my girlfriend does; she also thinks I’m crazy.)

5. Reflect On Critical Open Questions Through Different Lenses.
Most of the technologies we’ve ended up inventing and developing, and most of the strategies we’ve ended up pursuing, have been borne by a long cultivation of an open question, followed by the nurturing of a slow hunch. I am able to tolerate open questions for months, or years. Open questions could include queries about how to find a co-founder for your business idea when people have their own interests and projects to work on or how to sell your new product to an entity that is typically averse to risk (Answers: Work with them on their projects to show your worth and tempt them with interesting questions; show how to dramatically reduce a risk they already bear.)

Usually, the simple answers that come quickly do not satisfy me. But instead of giving up or forgetting it, I work at the problem each day from different angles, under different lenses — which can include but are not limited to: looking at extremes, considering what essential assumptions are and how to test them, and discovering how a different industry might solve a problem. Eventually I find some real traction with an idea that seems novel and has a good chance of working.

6. Set Three Specific Goals Weekly And Monthly — And Ignore Everything Else.
There are a million things you can do to improve your business. The problem is, if you try to fix or improve them all at once, you end up not making much progress in any of them.

You need to be relentless in following your goals. At least once a day, I find myself asking, “Is what I’m working on directly helping one of the three goals?” It’s easy to distract yourself with tasks that aren’t critical. You just need to stay on top of it. This helps us accomplish big things quickly.

To hold ourselves accountable and stay on the same page, we have weekly meeting on Fridays. During these meetings, our company sets the goals for the upcoming week and see where we are on the previous week’s goals. It’s a lot easier to say “what went wrong this week” then “what went wrong this quarter”

7. Make Lots Of Lists As Soon As You Get To The Office.
My habit is that I create lists for everything for one hour as soon as soon I get to the office every morning or the day before at the end of the day. I record these lists in Notes on my iPad, computer, and iPhone. I also use Gmail Tasks so I can link my lists to emails.

It forces me to think through my day, my week, my year, and my long term plan before beginning to execute. This improves my organization and clarity. In the past, I got caught up with the day-to-day details, and I took my mind off of the big goals.

Forming the right habits is critical to success as an entrepreneur. In fact, 40 percent of our daily behaviors happen automatically as a result of our habits according to researchers at Duke University. So, if you choose the right behaviors to turn into habits, you’ve just supercharged a large portion of your day.

What is the single biggest productivity habit that has created the most impact in your life? Answer in the comment section below.

Originally posted on www.entrepreneur.com

© COPYRIGHT 2015, PLASH DIGITAL LABS PRIVATE LIMITED | WWW.PLASH.IN

10 Signs You Are Born To Be An Entrepreneur

10 Signs You Were Born to Be an Entrepreneur

BY MURRAY NEWLANDS  @MURRAYNEWLANDS

Do you have what it takes to be an entrepreneur? Here are 10 signs that you were born with the entrepreneurial spirit.

 
Entrepreneurs come from all walks of life, but almost all of them share similar personality traits. From confidence to curiosity, there are certain attributes that are inherently entrepreneurial. These are 10 signs that you were born to be an entrepreneur.

Risk-Taking Behaviors

Starting your own business is a risk in itself. That being said, the sort of risk that entrepreneurship entails is just one of many tests for entrepreneurs. Entrepreneurs tend to take the saying "with no risk comes no reward" a little bit too literally, but that's what makes them fearless leaders and successful business owners.

Perseverance

Drive and the ability to stick with a task go a long way when it comes to building and running your own business. A lot of people don't have what it takes to see a business through the tough times that can last for years, but at the end of the day, perseverance is what makes a great entrepreneur.

Confidence

It takes a lot of confidence to break out on your own into uncharted financial waters and persist with something you love, even if it is difficult. But entrepreneurs tend to be some of the most confident people around, and they have to be in order to see their vision through to the end.

Adaptability

Everybody knows how fickle the economy can be, and it takes an adaptable individual to navigate these changes with grace and persist to make a business a success. Furthermore, as somebody who will frequently encounter unchartered situations and difficult decisions, an entrepreneur is always willing and able to take challenges head on and try to find the best possible outcome. You never know what to expect as a business owner, but entrepreneurs are always ready and able to adapt to the challenge.

Curiosity

Curiosity is a trait that most entrepreneurs have in spades, and it can really help them innovate and drive their own success. Most businesses are built upon their owners asking questions of the market and finding problems to solve, and they persist by looking into new strategies and solutions to keep them on the cutting edge.

Restlessness

There is quite a bit of work that goes into running your own business; in fact, there is something to do almost all of the time. Entrepreneurs will have no problem with this, as they are always looking to have their hands on what might be the next big thing.

A Focus on the Big Picture

Being able to juggle tasks and wear a million different hats makes a successful entrepreneur, especially at the crucial beginning points in the life of a business. A good entrepreneur can strategize and utilize all parts of a situation with ease.

A Rebellious Streak

It takes a lot of guts to break out on your own, away from the security of working for someone else. This kind of rebellion definitely started early on in life, and you might notice a pattern of breaking the mold in your past.

A Desire to Build Things

This doesn't necessarily mean physically building things, but entrepreneurs really love the process of putting things together to create a whole to show. New challenges excite the entrepreneur and being able to build a successful business or product from the ground up is a source of pride for most.

Competitiveness

Entrepreneurs love to show off their competitive side through their successes, and won't give up until they're on top. Just like the world's most successful athletes, entrepreneurs have an undying drive to be the best of the best, and are always finding ways to outdo their competitors.

Every entrepreneur is different, but the most successful ones all share these 10 personality traits. If this list sounds like you, you may be cut from the entrepreneurial stone and maybe someday, you'll be the founder of the next major company.

IMAGE: SHUTTERSTOCK IMAGES
LAST UPDATED: AUG 21, 2014

@MURRAYNEWLANDS
MURRAY NEWLANDS

Murray Newlands is a startup advisor, investor and entrepreneur. He's written for many major publishers such as VentureBeat and Entrepreneur.

   

COPYRIGHT 2014 MANSUETO

http://www.inc.com/murray-newlands/10-signs-you-were-born-to-be-an-entrepreneur.html?cid=sf01002

55 Business You Can Start with Less Than USD 5,000

STARTING A BUSINESS

Need a Business Idea?
Here are 55 ENTREPRENEUR PRESS & CHERYL KIMBALL
This article has been excerpted from 55 Surefire Home Based Businesses You Can Start for Under $5,000 by Entrepreneur Press & Cheryl Kimball (2009), available from Entrepreneur Press.

Today, tens of thousands of people are considering starting a home based business, and for good reasons. On average, people can expect to have two and three careers during their work life. Those leaving one career often think about their second or third career move being to their own home. People who have been part of the traditional nine-to-five work force and are on the verge of retiring from that life are thinking of what to do next. The good news: Starting a homebased business is within the reach of almost anyone who wants to take a risk and work hard.

$1,500 or less to start up

1. ACCOUNTANT
Experience, training or licensing may be needed

Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? A more involved level of accounting would be do actually work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business. Other specializations can include tax accounting, a huge area of potential work. Many business owners don't mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes.

2. BICYCLE REPAIR

In many parts of the country, this business tends to be seasonal, but you can find ways around that. Rent a storage unit and offer to store people's bicycles over the winter after you do a tune-up and any needed repairs on them. If you want to cater to the Lance Armstrong wannabes, you can have business all year round. These road race riders are training through snow, sleet and dark of night. Some of them work on their own bicycles, but many of them don't, so you can get their business all year. And if you keep Saturday shop hours, you can be sure you will have a group of enthusiasts coming by to talk all things cycling.

3. BOAT CLEANING
Experience, training or licensing may be needed

Boats that are hauled out of the water for the winter or even just for mid-season repairs will need the hull cleaned. And depending on the type of boat, it is a good time to give a major cleaning everything else too--the decks, the sleeping quarters, the head, and the holds. Start by approaching homes that have a boat sitting in the yard. Or you could market your services to the marina to contract you to do the boat cleaning it offers to customers.

4. BUSINESS PLAN SERVICE
Has expansion possibilities

Offer a soup-to-nuts business plan, including market research, the business plan narrative and the financial statements. Plan your fee around the main one that the client will want and offer the others as add-on services. You can give clients an electronic file and allow them to take it from there, or you can keep the business plan on file and offer the service of tweaking it whenever necessary. Have business plan samples to show clients--and make sure to include your own!

5. CHIMNEY SWEEP

Learning to be a chimney sweep may mean nothing more than apprenticing with someone already in the business. By becoming a chimney expert, you can combine a chimney sweep business with a chimney inspection service--covering more than just whether or not the chimney needs cleaning but whether the chimney is in good working order or in need of repair.

6. CLEANING SERVICE

There are many directions you can take this business. If you want to work during hours when no one else does, you can focus on office clients. You can focus on retail businesses and keep your customers clumped into one or two blocks. Restaurants are in great need of daily thorough cleaning and can be a great source of steady clients. Perhaps you would be more interested in house cleaning. Many times with cleaning services you don't have to spend lots of money on advertising or marketing because your customers will come by word of mouth.

To learn more about this business idea, check out Start Your Own Cleaning Service.

7. COMPUTER REPAIR
Experience, training or licensing may be needed

Study the main types of software that system users will want--word processing, photo manipulation software, mail merge, spreadsheet, design and especially security software. Investigate all the components--monitor types in all their varieties; keyboards, from wired to ergonomic to wireless; mouse types; as well as peripheral components like printers and scanners. Become completely familiar with all the ISPs (internet service providers) available in the market area you plan to cover. Establish yourself as the guru who can meet the needs of the personal computer user, the small business or a larger corporation.

8. CONSULTANT
Has expansion possibilities

To be a consultant, you need to have an expertise in something so you can market yourself as an advisor to others looking to work in that area. Perhaps you managed several large warehouses in your career with a drugstore company, you did all the marketing for many years for a large shoe manufacturer or you set up a chain of beauty supply shops or take-out restaurants. You can use this experience to help others do similar things without making the same mistakes that you made along the way.

To learn more about this business idea, check out Start Your Own Consulting Business.

9. DOG BREEDER

Experience, training, or licensing may be needed

Pets are phenomenally popular in the U.S. While many people are willing to adopt from animal shelters, others are looking for a specific breed. Purebred dogs are more popular than ever and can command large sums of money. But becoming a dog breeder is serious business catering to savvy consumers with high expectations of their pet purchases. You will need to establish yourself as a conscientious breeder who cares about the health and welfare of the animals you bring into the world.

10. EBAY ASSISTANT

Do you have items lurking around your household that you could sell on eBay? Figure out your asking price and decide whether to auction it or put it in your eBay store. Then decide if you want a minimum bid and how long you want the auction to last. You will want to establish a PayPal account to use for transactions. The eBay website provides all the information you need to know to get up and running with an eBay business.

From Editorial Services to Household Organizer
11. EDITORIAL SERVICES
Has expansion possibilities

Here are some of the editorial services you can provide from the quiet of your own home:

Copyediting. This is where fact checking takes place, and where grammatical, stylistic and typographical errors are caught.
Proofreading. This is the last stop for a "finished" piece. The proofreader makes sure the copyediting changes have been properly made and no new errors are created in the process.
Indexing. There are indexing courses available and you can get indexing software.
Developmental editing. A developmental editor works with a manuscript on big-picture things like organization and content issues.
Book doctoring. This is an editorial service provided for manuscripts written by experts. They create a manuscript as best they can and then a book doctor puts it into publishable shape.
Ghost Writing. As a ghost writer, you actually do the research and write the book and someone else's name is attached as the author.
Copywriting. Also known as business writing, this is writing that promotes a product or a service.
Book writing. Do you have an expertise in something professional, such as accounting or interior decorating? Or personally, like knitting? Why not write a book about it?
Magazine article writing. Magazines and newspapers are a great way to get your writing published before tackling the daunting task of writing a whole book.
Web page content provider. Providing content for a web site is a good way to make some money writing.
To learn more about this business idea, check out Start Your Own Freelance Writing Business and More.

12. ELECTRONICS REPAIR
Has expansion possibilities

This business is similar to the computer repair business, but you will take on all sorts of electronic equipment besides just computers. With smaller electronics, you will need to be prepared to have customers bring their repair projects to you, as you would have difficulty recovering the cost of driving around picking up broken equipment and returning it. You may also want to encourage people to give you their old electronics so you can use them for parts.

13. EVENT PLANNING
Has expansion possibilities

One of the first things you need to do is visit every potential event location with which you plan to work. Work with the marketing manager to tour each site and learn what is available at each location. Start a database that will allow you to sort venues by varying features--the number of people each site holds, if there is AV equipment available on site, will you need to arrange for rental chairs, etc. Then when you are beginning to plan an event with a client, you can find out what the key parameters are for the event and easily pull up the three or four sites that meet the basic criteria. and engagement parties, etc.

To learn more about this business idea, check out Start Your Own Event Planning Business.

14. EXPERT WITNESS SERVICE
Experience, training or licensing may be needed

One way to make money in this field is by being an expert witness yourself. If you have an expertise that could be useful in legal cases, you can market yourself to attorneys to act as an expert witness. Another way to be active in the expert witness field is to play a sort of matchmaker, matching attorneys up with expert witnesses for their cases--either for the defense or for the prosecution. Expert witnesses for big money cases can be expected to fly anywhere to testify. There's no reason your database of witnesses can't be from all parts of the country.

15. FINANCIAL PLANNER
Experience, training or licensing may be needed

To start, you should go through the certification process so that you can label yourself a CFP (Certified Financial Planner). Your certificate shows that you have expertise and credibility, and this differentiation will help people choose you as their financial planner.

For more information and details on certification, click here. http://www.cfp.net/become/Steps.asp

16. FLEA MARKET
Has expansion possibilities

People love to spend weekends rummaging through tables full of other people's unwanted items, looking for treasures. Make sure to change your layout and put new stuff out for sale often. You want people to come back time and again to see what's new. You don't even have to have that much new stuff to make things look new. Just moving an item from a table to the top of a bookshelf might get it noticed, even though the item has been in your inventory since you first started having sales.

17. GOLF COACH
Experience, training or licensing may be needed

Let the local public courses know about your coaching business. Cultivate relationships with the staff and encourage them to recommend you as a coach. Another place to look for customers is the corporate world. Golfing is a game that business people use to develop relationships outside the office. You do need to be a better than average golfer to develop a reputation as a golf coach. You also need to be a good teacher, know how to be motivational and be willing to work with many different types of people.

18. HOME ENERGY AUDITOR
Experience, training or licensing may be needed

All homeowners are always on the lookout for ways to save on their utility bills. You can come to their aid by providing them with an audit of their house and giving them a breakdown of how they could accomplish real savings in heating, cooling and electrical use. You can go one step further and do the implementation and installation of some of your suggestions in their home yourself. Do a complete appliance audit, with efficiency ratings and calculations based on the age of the appliance. And don't forget the water heater!

19. HOME INSPECTION
Experience, training or licensing may be needed

In order to be successful, you will want to establish contacts with real estate agents who can recommend your services to customers. The home inspection field is one where you will need to do constant updating of your education and knowledge. New products are constantly coming out on the market--if you only know about decks made of wood, you will not know how to inspect and assess the new materials on the market, such as composites that are made to look like real wood. Also keep apprised of all safety updates of materials and issues with things like off-gassing, carbon monoxide production, and other chemical precautions.

To learn more about this business idea, check out Start Your Own Home Inspection Service.

20. HOUSEHOLD ORGANIZER
Has expansion possibilities

You can choose either to do the organizing work or to come in to a home and consult on the things the homeowner could do to better organize. Have a portfolio of different organizational scenarios in different rooms in the home and talk with the homeowner about the style he or she likes. Create checklists and questionnaires to understand how the family uses the home. Are the kids wildly busy with after-school activities? Or are they usually home after school and want access to their toys? Do they share rooms? All of these things will help you tailor an organizing plan and become the family hero.

From Import/Export to Solar Energy
21. IMPORT/EXPORT SPECIALIST
Experience, training or licensing may be needed

If you don't already have work experience with importing and/or exporting, you will have a longer learning curve. You can start by learning the basics and hosting educational sessions to teach others what they need to know to get started in import/export. That alone would probably gain you your first couple of clients. If you keep going with educational seminars and expand your reach to outside your immediate region, you could probably develop a sufficient and ongoing customer base very quickly, but be careful not to outpace your learning curve!

To learn more about this business idea, check out Start Your Own Import/Export Business.

22. INTERIOR DECORATOR
Experience, training or licensing may be needed

Market your talents to building contractors. People purchasing new homes can often be overwhelmed with the choices and possibilities in home decorating. Design some questionnaires for each major element and each major room in the house. Find out how the homeowner will use the home--are there children? Pets? Does the woman of the house wear high heels? Do the home's residents neglect to remove shoes? How will each room be used? Where might task lighting and ambient lighting be most appropriate?

23. JEWELRY MAKING
Experience, training or licensing may be needed

There are many different ways of getting into the jewelry business and many different types of materials with which you can work. Working in metal will probably require the most in the way of specific tools. You need to be able to heat the metal to manipulate it, and you need metalworking tools to cut and engrave it. But there are many other materials that you can work with to make jewelry--glass, plastic, beads, feathers, even wood, to name just a few.

24. MARKETING COPY WRITER
Experience, training or licensing may be needed

If you can write copy that gets people excited about purchasing what your client has to sell, you can make good money in this business. Unless you are highly experienced from working in the copywriting field, take a course. There are online courses or classes at community colleges and universities that can give you a leg up in getting savvy at writing copy for brochures, catalogs, advertising and, of course, marketing copy for the web.

25. NOTARY PUBLIC/JUSTICE OF THE PEACE
Experience, training or licensing may be needed

In most states in the U.S., a notary public is a state officer who is authorized to witness and attest to the legalities of certain documents by signature and stamping a seal. Most states require that you pass an exam and a background check. It costs very little to become a notary and your income from notary work is negligible. A justice of the peace typically performs wedding ceremonies. States have varying rules and procedures for becoming a JP and performing services. Becoming a JP and/or notary public does not cost much money. And it is not a big moneymaking venture! Many states set the fees you can charge for JP services. JPs can add additional fees, and often do, including travel and hourly rates for additional meetings such as rehearsals, other prep time and any special requests.

26. PERSONAL CONCIERGE

This business is for someone who is supremely efficient and has the ability to make things happen. People who hire you will expect things when they want them and you need to be able to come through with not only what they want, but with a personal touch and a smile on your face. The most likely clients for a personal concierge service are top executives who find themselves at the office by 7 a.m. and are there most nights until 9 p.m., leaving them very little time to do all those things that often need to be done during those very hours.

To learn more about this business idea, check out Start Your Own Personal Concierge Business.

27. PERSONAL TRAINER
Experience, training or licensing may be needed

Advertise your services in places where everyone goes, like restaurants and grocery stores. Having a website is a good idea--people want some privacy in their decision-making when it comes to getting fit. They can go to your website and determine if your approach to personal training is an approach that would work for them. It is important to emphasize the safety aspect of using a personal trainer. You can help clients get fit and avoid injury.

To learn more about this business idea, check out Start Your Own Personal Training Business.

28. PROPERTY MANAGEMENT

Your job, in the case of rental units, will be to make sure the property is running smoothly. For seasonal properties, you will most likely spend your management time making sure the property is ready for seasonal visits and well-maintained when no one is around. If the owners go away for six weeks in the winter, the property manager makes regular checks on the property. You will be the contact number if the security system operator needs to contact someone about a breach in security.

29. SMALL ENGINE REPAIR

Experience, training or licensing may be needed

Most community colleges offer some level of engine-repair courses. Another way to learn would be to take a part-time position at a repair shop or a rental facility where you could learn on the job, although you will want to be open about your plans. You should be prepared to work on push-behind lawn mowers, riding lawn mowers, generators, garden tools such as rototillers and edgers, chainsaws, wood chippers and snowblowers. You need to decide whether you'll want to take on bigger jobs, such as tractors, snowmobiles and ATVs; space may be your decision-maker.

30. SOLAR ENERGY CONSULTANT
Experience, training or licensing may be needed
Has expansion possibilities

As a solar consultant, you can basically conduct a home inspection and give clients a report on their solar options for their particular home and site. This can range from full-fledged general solar installations that generate electricity to simple solar walkway lighting. You might want to start by working in a solar products company to become knowledgeable in the solar energy field. However, to be a consultant, it is often best not to be affiliated with any one company or product and be able to recommend products and options across the field of solar energy.

From Tax Preparer to Graphic Design
31. TAX PREPARER
Experience, training or licensing may be needed

Most tax preparation franchises offer courses, seminars, and training to get you ready to work for them. You will learn a lot about tax preparation while working for them before going out on your own. There is a lot of educational support out there to learn tax preparation and all its complexities. And there are lots of individuals and businesses willing to spend a few hundred dollars a year to have someone else prepare their taxes and keep watch for tax breaks or tax burdens on their behalf.

32. TAXIDERMIST
Experience, training or licensing may be needed

Today's world of taxidermy isn't exclusive to preserving real specimens. Taxidermy also refers to recreating a specimen using completely artificial materials. Taxidermy schools where you can learn the trade are located almost throughout the country, typically as courses over several weeks specializing in certain levels of expertise, from beginner to master's level. Like any enterprise, there are taxidermy conventions that you can attend and learn about the latest techniques and materials.

33. UPHOLSTERING

If you have a knack for sewing, upholstery repair might be a perfect business for you. One of the best ways to learn how to upholster is to get some discarded upholstered furniture and start tearing it apart. Many books and some videos are available to help you learn this trade. Often furniture ready for upholstering will also need repairs. Have a list available of furniture repair people you can recommend to your customers. Or you can take the piece in, have repair people you work with do this work for you, and add it to the overall cost. You can also learn to do this work, especially minor repairs, yourself.

34. USED BOOK SALES

Almost everyone has a few boxes of books stashed away in the house somewhere. Why not make a business out of them? In order to gain customers--especially repeat customers--you will need to have some regular shop hours. Make your shop known for something-a specific category (or two) of books, having some first editions for sale, all paperbacks a dollar and all hardcovers two bucks, and/or a swap program. Maps, illustrations, postcards, greeting cards and magazines are good sidelines to include in your shop.

35. WEDDING PLANNER

You will need to be up-to-date on wedding trends and fads, dress styles, color trends--almost everything under the sun! Offer your customers an ala carte menu of services, from helping pick flowers, the wedding gown and bridesmaid dresses to picking the venue and hiring the caterer. Before you open your business, shop at all the wedding shops, and even pretend you are a bride-to-be to see what kinds of services the wedding gown shop provides and how they treat potential customers. You need to know every detail of the business to give the accurate impression that you are the go-to person for anyone planning a wedding.

$1,500 to 3,000 to start up

To learn more about this business idea, check out Start Your Own Wedding Consultant Business.

36. APPLIANCE REPAIR
Experience, training or licensing may be needed

Every household has a number of appliances, large and small. You can work on your own or on contract with appliance stores to cover their warranty service calls--or, best of all, you can do some of each. Plan to start slow and build your customer base on recommendations and referrals based on work well done. Consider developing relationships with contractors to be the go-to person to install appliances in newly constructed houses.

37. COMPUTER TRAINING
Experience, training or licensing may be needed
Has expansion possibilities

If you are proficient in both Macintosh and PC, you should offer training in both types of computers. You could probably make a living helping seniors learn how to use the internet and e-mail to keep in touch with their loved ones, who are now commonly spread around the country. Err on the side of caution in this business. People do not want to know all the details about what makes a computer work. If you overload them with information from the beginning by explaining bits, bytes, and megapixels, they will stick to their paper and pencil forever.

38. DESKTOP PUBLISHER
Experience, training or licensing may be needed

You can use desktop publishing software to create newsletters, magazines, books or even marketing materials. You can create the content for your desktop publications, or you can pay a writer to create the content for you. Alternatively, you can advertise your desktop publishing services to design and create newsletters and books for others with their content.

39. FENCE INSTALLATIONS

Fences are everywhere. And they don't last forever, so they need to be repaired and replaced with a certain amount of frequency. The most common fence material is wood. However, vinyl has become a popular fence choice due to its longevity and relative freedom from maintenance. Wrought iron is another common fencing, especially in urban environments. You can have fun shopping for vintage wrought iron fencing at salvage yards.

40. FREELANCE GRAPHIC DESIGNER
Experience, training or licensing may be needed

Despite the proliferation of the internet, print media is here to stay for the foreseeable future! Fliers, newsletters, magazines, information sheets, letters and advertisements are just a few of the types of print media that business hire freelancers to create for them. Websites and online advertising need graphic design services as well. Even if your expertise is only in design, offer the works for potential clients, including the editorial creation and the printing and even mailing of the final piece. You can line up regular freelancers for those parts of the job you can't do.

To learn more about this business idea, check out Start Your Own Graphic Design Business.

From Gift Baskets to Rug Cleaning
41. GIFT BASKET SERVICE
Has expansion possibilities

Finding a niche is the best way to start out in the gift basket business. Are you a dog lover, horse lover, or exercise guru who could put together baskets that hold the things that people with this interest would like? Do you already create a product that a gift basket could be built around? Have you made your own soaps for the past 10 years? A gift basket that included one or two of your soaps, hand lotion, a scrub brush and manicure kit could be a lovely basket to receive.

To learn more about this business idea, check out Start Your Own Gift Basket Business and More.

42. GRAFFITI REMOVAL

Create an arsenal of cleaning products that can clean almost every kind of product (paint, chalk, markers) from every kind of surface (cement, wood, pavement). The best way to conduct a graffiti service is to offer a subscription-like arrangement. Once a month or whatever interval makes sense for your clients, go around to their property and clean off the graffiti. Charge them a monthly or quarterly fee and make it simple for everyone--they don't have to think about graffiti, and you just do your job.

43. HAIRSTYLIST
Experience, training or licensing may be needed

Hairstyling is a popular business that can be quite lucrative. Generally a home based hairstylist business is likely to be started by someone who has already has a cosmetology career and wants a change. If you already have your cosmetology training and license, and loads of experience under your belt working in a hairstyling salon, you probably have a following that will follow you right home without any hesitation.

To learn more about this business idea, check out Start Your Own Hair Salon and Day Spa.

44. HERBAL FARM STAND

You need to decide whether you will sell your herbs as live plants, picked or cut in bunches and packed, or dried. If you plan to market to cooks instead of gardeners, you will want to sell your herbs either fresh cut and packed in sealed bags, or dried and sold in baggies. You can also consider a "pick-your-own" arrangement; however, be aware that herbs are more delicate than most P.Y.O products. You may save your garden a lot of strife and your plants a lot of wear and tear if you do the picking.

45. LANDSCAPER
Experience, training or licensing may be needed

If you have a knack for this type of work, a degree won't be necessary. Most people want their yards tidied up in the spring, their lawns mowed in the summer, their leaves removed in the fall, and their shrubs and driveways ready for winter snow. You will also want to offer garden work such as spring planting of annuals and perennials; vegetable garden preparation, planting and fall cleanup; pest control and watering. You can offer tree care service. There is plenty to do in the yard that has nothing to do with plants: stone wall restoration, fencing, irrigation system installation.

To learn more about this business idea, check out Start Your Own Lawn or Landscaping Business.

46. MASSAGE THERAPIST
Experience, training or licensing may be needed

You will want to become certified in massage therapy to be able to effectively market your services. Courses that lead to certification include not only information on human anatomy and physiology and the effects that massage has on both, but also on how to make a business out of the field of massage. You could do either a certification program or an associate's degree and stay within the $5,000 scope of this book.

47. MOVING SERVICE

Lots of people who are moving want to hire someone to do the heavy lifting for them. You can leave the large-scale, long-distance moving to the big moving companies. Your work can be the local, moving-across-town or to the town-next-door jobs. These are the ones that people start off thinking perhaps they could do themselves, and it will be your job to convince them otherwise. Your signs around town will tempt them to let you take care of that part of the move, while they are busy taking care of those other 500 items on their list.

48. MUSIC LESSONS
Experience, training or licensing may be needed

You want to stick to the instrument(s) you know, but you may be a skilled enough musician to offer lessons on several different instruments, or those in a particular class, e.g., stringed or woodwind.You can decide to take on individuals or classes, depending on space and availability of instruments. Public schools are continually reducing their commitment to art and music classes for students, so you can try to work with the public school system to supplement their efforts in those areas.

49. PHOTOGRAPHER
Experience, training or licensing may be needed

Making money as a photographer can be done in a number of different ways. You can specialize in one area, the most common being weddings. There are niches you can explore for photography: portraits of people and their pets, families, and homes; photographs of holiday events, birthday parties or Christmas cards; the possibilities are endless.

To learn more about this business idea, check out Start Your Own Photography Business.

50. RUG CLEANING

You will need to learn how to work with all kinds of carpet fabrics, from synthetic to wool carpets. Decide whether you will take on valuable antique carpets and family heirlooms; if so, you will want to get specialized training in how to handle these carpets and the specialized ways of cleaning them. Learn how to get tough stains and odors out of carpets--such as dog and cat odors--and your services will be in great demand.

From Websites to Pet Sitting
51. WEBSITE DEVELOPER
Experience, training or licensing may be needed

Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design--is it wild and contemporary, meaning brilliant colors and fun graphics? Or will more classic colors like black, navy blue and maroon be more appropriate?

$3,000 to $5,000 to start up

52. BED AND BREAKFAST

Do you have a room that has its own bathroom and is private from the rest of the living space? Are you near attractions such as a tourist area, sports stadium or venue for a large annual event? Or is your home in the country with spring peepers, summer crickets and crisp fall nights that could give a city-dweller a weekend of peaceful living? Say you can rent the room for $150 a night for Friday and Saturday nights 48 weeks a year--that's $14,400 in revenue! Utilize what you have and create a unique experience.

To learn more about this business idea, check out Start Your Own Bed & Breakfast.

53. CHRISTMAS TREE SALES

If you want to start a Christmas tree farm, you need to plan ahead. It takes approximately seven years for a Balsam fir--perhaps the most traditional Christmas tree--to grow from a small sapling to a 5- to 6-foot tree. Selling your trees yourself is the best option. Consumers come to the property, pick the one they want, and you harvest it for them. The other option is to buy your trees from a wholesaler and sell them either in your yard or in a vacant lot that you rent from Thanksgiving to Christmas.

54. DAY CARE
Experience, training or licensing may be needed

Perhaps you love children. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in the United States. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a homebased childcare business can get off and running immediately.

55. PET SITTING
Experience, training or licensing may be needed

Starting a pet sitting service requires almost nothing in start-up costs. You do need some general credentials that will cost little or nothing to acquire. Your list of credentials should probably include personal pet ownership--if not currently, at least in the past--as well as other pet-related experience, including working at a pet food store, an animal hospital or other animal-related business. You will need to spend a little to become "bonded." This is known as "honesty insurance," and ensures your clients that you won't get their house keys and make off with their valuables (or that they'll get their money back if you do).

To learn more about this business idea, check out Start Your Own Pet-Sitting Business.

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http://www.entrepreneur.com/article/201588

5 Basic Skills That Entrepreneurs Should Have

Running your own business means having to wear all different types of hats. Whether it's your marketing hat, your sales hat, or your general people skills hat, you're going to need to know how to court sales, and on the other side of operations, you are also going to need to know how to run a balanced account and continue to grow your wealth.

Though there are many business skills that a successful entrepreneur will have, the following five skills are the ones that you absolutely need to make your business successful:

1. Sales

This one is a no-brainer--of course you are going to need sales skills in order to run your business! After all, marketing can drive customers in to your business, but sales are going to be what keeps them coming back and keeps putting money into your pocket. It is no wonder why most entrepreneurs actually come from a sales background!

2. Planning

Taking one bad step can make or break your business, especially when it is still in the early stages of development. Entrepreneurs that are successful with their ventures make a plan and stick to it, thinking out every risk, benefit, and cost of an option available to them. They also make their plans realistic and factor in things such as time and budget in order to make their plans a reality.

3. Communication

Communication is an underlying skill for many others in business (sales included). Communication is how you will be able to cultivate loyal employees, charm customers into coming back time and time again, and court investors and other sources for increasing revenue for your business. This skill can also come in handy when dealing with vendors or any other necessary business services that may apply to your venture--being friendly in business-to-business relationships is a sure-fire way to be treated a little bit better, therefore making at least one aspect of your job a little bit easier.

4. Customer Focus

Successful entrepreneurs keep a narrow focus--on the customer that is paying their bills. They do not forget that everything that they do is for the customer, since the customer is the one that is allowing them to do anything in the first place. A good business owner will always have time for a customer, whether they have a complaint or praise. Having good customer focus will mean that you see every customer as an opportunity to do better and grow, versus an annoyance or a difficulty.

5. Curiosity

The best business skill has always been a healthy curiosity. This will lead you to look into what your competitors are doing, and it will also allow you to utilize new technologies to the best of your ability to streamline your business and even reach out to new customers. When the only limit you have is what you can imagine and apply, just about anything is possible.

http://www.inc.com/murray-newlands/5-most-important-business-skills-every-entrepreneur-must-have.html?cid=sf01002

Kredit UMKM Masih Terkendala Dalam Pembuatan Laporan Keuangan

Bisnis.com, JAKARTA -- Laporan keuangan yang belum kredibel masih menjadi kendala utama bagi pelaku usaha mikro, kecil, dan menengah (UMKM) untuk mendapatkan modal dari lembaga jasa keuangan.

Wakil Ketua Komite Tetap Bidang Strategi dan Reposisi UKM Kadin Indonesia Ardantya Syahreza mengatakan masih banyak pelaku UMKM yang tidak faham dengan istilah keuangan dan rasio finansial.

“Masih ada yang tidak mengerti aset tetap itu apa, aset lancar itu apa. Keterbatasan membuat laporan keuangan yang kredibel menyebabkan keterbatasan kemampuan dalam mengakses sumber dana,” ujarnya, Kamis (7/8/2014).

Belum lagi jika lembaga jasa keuangan ternyata tidak hanya membutuhkan laporan keuangan yang kredibel, tapi juga historical report dan proyeksi pengembangan usaha ke depan.

Selain itu, Ardantya menambahkan pelaku UMKM juga memiliki keterbatasan kemampuan dalam mengelola proporsi pengalokasian aset.

“Akhirnya apa yang terjadi? Mereka menggadaikan motor atau rumah, itu cara yang paling gampang untuk mendapatkan modal,” ujarnya.

http://m.bisnis.com/industri/read/20140807/87/248401/kredit-umkm-laporan-keuangan-masih-jadi-kendala

Tips Pengusaha UKM Mendapatkan Modal

Kamar Dagang dan Industri (Kadin) Indonesia mendorong tumbuhnya Usaha Mikro, Kecil, dan Menengah (UMKM). Namun, perkembangan usaha itu harus diakui tidak terlepas dari besarnya modal yang dimiliki pengusahanya. Bagaimana cara yang tepat untuk mendapatkan modal bagi pengusaha UMKM yang ingin mengembangkan usaha?

Wakil Ketua Komis Tetap Strategi dan Reposisi UKM KADIN Indonesia, Ardantya Syahreza mengungkapkan, modal untuk UMKM bisa diperoleh dari berbagai pihak. Seperti perusahaan pembiayaan atau bank. Namun, yang perlu diperhatikan adalah jenis modal yang diinginkan sesuai dengan bidang usaha yang dijalani.

"Harus lihat kebutuhannya dulu, misalkan dia jual barang yang perlu DP atau tidak. Kalau modalnya masih bisa dicover dengan uang yang ada, tandanya tidak perlu pinjam, tapi kalau butuh uang cepat bisa ke perusahaan pembiayaan dengan kredit atau apapun. Meski ini bunganya tinggi tapi kan pinjamannya bukan untuk jangka panjang, paling 3 bulan sudah bisa lunas," ujarnya di Jakarta, Kamis 7 Agustus 2014.

Ardantya mengakui melakukan pinjaman ke bank untuk UMKM tidaklah mudah. Pasalnya, banyak pengusaha UMKM yang belum bisa memenuhi laporan keuangan yang diinginkan pihak bank. Alhasil, proposal permintaan bantuan modal itu pun ditolak.

"Masih ada yang tidak mengerti aset tetap itu apa, aset lancar itu apa. Keterbatasan membuat laporan keuangan yang kredibel menyebabkan keterbatasan kemampuan dalam mengakses sumber dana. Perlu juga historical report dan proyeksi pengembangan usaha, ini yang sulit dipenuhi pengusaha UMKM," ungkapnya.

"Akhirnya apa yang terjadi? Mereka menggadaikan motor atau rumah, itu cara yang paling gampang untuk mendapatkan modal."

Ardantya menyatakan yang mendapatkan modal dari bank kebanyakan dari usaha menengah yang telah memiliki laporan keuangan yang rapi serta memiliki jaminan.

"Kalau perusahaan kecil kan biasanya tidak terencana. Kalau usaha menengah, mereka baru butuh investasi dan sudah ada jaminan ke bank. Untuk dapat KUR pun tidak cepat dan banyak syaratnya," keluh Ardantya.

Namun, jika perusahaan UMKM ini sudah memiliki laporan keuangan yang baik dengan pertumbuhan usaha yang tinggi maka tidak sulit menambah modal, tidak hanya dari bank tetapi juga bisa dari penjualan saham di lantai bursa. Jika sudah berada di posisi ini maka UMKM tersebut bisa melakukan ekspansi besar-besaran guna meningkatkan usahanya.

"Tapi kondisinya sekarang, UMKM di Indonesia ini masih jauh kalau mau masuk pasar modal. Kalau usaha menengah mungkin laporan keuangannya sudah rapi tapi rata-rata omzetnya masih sekitar Rp 10 miliaran. Kalau yang sudah masuk pasar modal itu sepertinya sudah di kalangan usaha besar dengan omzet ratusan miliar," pungkasnya. (Ism)

http://m.dream.co.id/dinar/jadi-pengusaha-umkm-ini-cara-tambah-modal-yang-tepat-140808f.html

4 Reasons Why Your Startup May Never Be Successful

http://m.entrepreneur.com/article/235477

4 Reasons Why Your Startup May Never Be Successful
By Thomas Oppong|Jul 30, 2014

Starting a company is one of the hardest things you can ever do – and often the outcome isn't a billion-dollar exit or even a company deemed successful. The high failure rate that occurs in the startup world can be attributed to many different factors, but often, it comes down to these four recurring problems.

1. You are still building the wrong product. The biggest mistake you can ever make as an entrepreneur is to build something people don't need. Once you create a perception about what you think people will need, you are already shooting yourself in the foot. One of the best ways to build something people could actually pay for or use is to involve the end users or prospective customers in the process – from the get go.

Do your homework, get out there and talk to people about what you intend to build. Ask your prospective users if they will use it. Once you gather enough evidence about the need for the product, you will spend less resources trying to convince people to use it when it's done.

Most of the great startups started as something the founders were passionate about. Start with what you want, validate and focus on making it awesome.

Related: 9 Reasons Why Most Startups Fail

2. You can't adapt or change direction when necessary. If the founders can't give up the original idea when required and make a necessary pivot, the business could be heading for a dead end.

Most startups that fail have specific unchangeable goals they want to achieve. The fast-changing business landscape demands plans that can be re-visited and altered if necessary. Roles, leadership, goals and teams should be open for discussion when things are not going as planned (most of the time they never go as planned). If you have no idea when to pivot while there is still time and capital, you are in trouble.

How flexible is your business goal? Successful startups are the ones that can change direction and the initial idea in the interest of a better version people really want. Startups are meant to evolve and grow into a remarkable company, and there is nothing wrong with making tweaks and sticking to what sells.

3. Your market isn't big enough. You need an existing market that is big enough to be successful. How big is your current market?  How do you sustain growth in a market that is virtually not growing? You could be building an exciting or innovative product, but if your market is not growing, you will eventually struggle to sustain your business.

Some entrepreneurs believe certain markets are underrepresented but primed for growth, so they jump into that industry. The truth is, there are usually good reasons why those markets are often neglected. Do your research and stick to markets with opportunity for significant growth.

Related: 13 Startup Red Flags to Avoid

4. You are spending too much money too soon. Raising funds is a tough process and most startups don't get to raise money at all. Your funding process should start well in advance before you run out of money. If your startup is spending too much money, and you still don't know how you are going to raise your next round of capital, you should be worried. Your business should not run into a scenario where you do not know how much runway you have left.

If you know your runway and know you are running out of cash, you should be executing a plan to fix the situation. You should be focusing on keeping expenses under control. The funny thing about most startups is that before they raise capital, they stay lean, spend less and keep expenses under control, but as soon as they raise money, everything changes. Suddenly the frugality disappears.

Related: Why Too Many Startups Run Out of Money Too Fast

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Alkhalife
Alkhalife 7 hours ago
Good point, before I started my start up. I went to 33 churches and asked the people what they thought about my services. At the end, I had over 62 pages of inputs. As a result, started alkhalife.info and the growth as been incremental organic growth....

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Adam Barney
Adam Barney 1 day ago
I have been a part of a few start-ups and agree with what you are saying. I have started a successful website Brevada.com that helps businesses but especially entrepreneurs collect feedback. Lean start-ups are most often the best and the most important part of any business is their customers.

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© 2014 Entrepreneur Media, Inc.

Smartest IQ People's Habits in Business

http://m.entrepreneur.com/article/235549

Smartest IQ People's Habits:

1. Be persistent. Don't let failure define you. After all, Thomas Edison had to get through more than 1,000 prototypes for the light bulb before he made one that worked.

2. Be goal-oriented. Setting a high bar for yourself and sharing your goals with others -- whether they are friends or colleagues -- can make you more likely to accomplish them.

3. Read more. People who read for 15 minutes a day can be exposed to more than 1 millon words a year.

4. Be curious. Smart people are always asking questions, making inferences and thinking critically about the world around them.

5. Be self-discipline.

15 Signs You Need to Have As Entrepreneur

15 Signs You're an Entrepreneur or 15 Things You Need To Have to be A Successful Entrepreneur

Pressed to describe the stereotypical entrepreneur, which words would you use? Passionate? Dedicated? Optimistic? Sure, those apply. But insecure and troublemaker are more accurate, according to 'treps who know a success when they see one. Do the following traits, characteristics and quirks describe you? Well then, you might be an entrepreneur (at heart, if not yet in practice).

1. You take action.
Barbara Corcoran, founder of The Corcoran Group, co-star of TV's Shark Tank and author of Shark Tales: How I Turned $1,000 into a Billion Dollar Business, says people who have a concept but not necessarily a detailed strategy are more likely to have that entrepreneurial je ne sais quoi. "I hate entrepreneurs with beautiful business plans," she says.

Corcoran's recommendation? "Invent as [you] go," rather than spending time writing a plan at your desk. In fact, she believes that people with life experience have an active problem-solving ability and think-on-your-feet resourcefulness that can be more valuable than book smarts alone. Those who study business may be prone to overanalyzing situations rather than taking action.

2. Be insecure.
"Many entrepreneurs judged as ambitious are really insecure underneath," Corcoran says. When evaluating potential investments, she adds, "I want someone who is scared to death." Those who are nervous about failing can become hyperfocused and willing to do whatever it takes to succeed. If you feel insecure, use that emotion to drive you to achieve your business goals.

3. You're crafty.
"One of my favorite TV shows growing up was MacGyver," confides Tony Hsieh, CEO of Las Vegas-based Zappos, "because he never had exactly the resources he needed but would somehow figure out how to make everything work out."

Always resourceful:
A lifelong entrepreneur, Hsieh has done everything from starting a worm farm to making buttons and selling pizzas, so he admires MacGyver's "combination of creativity, optimism and street smarts. Ultimately, I think that's what being an entrepreneur is all about--playing MacGyver, but for business." It's not about having enough resources, he explains, but being resourceful with what you do have.

4. You're obsessed With cash flow.
Before founding Brainshark, a Waltham, Mass.-based developer of technology for business presentations, Joe Gustafson bootstrapped a venture called Relational Courseware. "All I ever thought about was cash flow and liquidity," he says, admitting, "there were seven times in [the company's] eight-year history when I was days or hours away from payroll and didn't have enough cash to make it."

How did he respond? "In the early days, you could step up and put expenses on your personal credit card, but that can only go so far," he says. "You need cash--even if you have the best company and the best receivables in the world--to fight the battle one more day." Other strategies he recommends include working with a partner who can provide cash advances on projects and maintaining close communication with suppliers.

5. You are looking for trouble
Stephane Bourque, founder and CEO of Vancouver, British Columbia-based Incognito Software, says true entrepreneurial types are more likely to ask for forgiveness than permission, forging ahead to address the opportunities or issues they recognize, even without approval from higher-ups.

"Entrepreneurs are never satisfied with the status quo," says Bourque, who discovered he was not destined for the corporate world when he kept coming up with new and better ways of doing things--ideas that were not necessarily appreciated by his bosses and often were interpreted as unwanted criticism. Now, he says, "I wish my employees would get into more trouble," because it shows they are on the lookout for opportunities to improve themselves or company operations.

6. You're fearless.
Where most avoid risk, entrepreneurs see potential, says Robert Irvine, chef and host of Food Network's Restaurant: Impossible. True 'treps are not afraid to leverage their houses and run up their credit card balances in order to amass the funds they need to create a new venture. In some ways, he says, they are the ultimate optimists, because they operate under the belief that their investments of time and money will eventually pay off.

7. You can't sit still.
Entrepreneurs have unbridled energy that fuels them long past the time when their employees have gone home. They are eager, excited and energized about business in a way that makes them stand out. Irvine would know: He owns a restaurant in South Carolina, is opening another in the Pentagon and has a line of food and clothing products, on top of hosting his TV show.

8. You're constantly Evolving
"If you have only one acceptable outcome in mind, your chances of making it are slim," cautions Rosemary Camposano, president and CEO of Silicon Valley chain Halo Blow Dry Bars. If you are willing to listen, your clients will show you which of your products or services provide the most value.

Her original vision for Halo was part blow-dry bar, part gift shop, "to help busy women multitask," she explains. But she quickly learned that the gift shop was causing confusion about the nature of her business, so she took it out, replaced it with an extra blow-dry chair, and things took off. Smart entrepreneurs constantly evolve, tweaking their business concepts in response to market feedback.

9. You enjoy navel gazing.
Without direct supervisors, entrepreneurs need to be comfortable with the process of evaluating their own performance, says Laura Novak Meyer, owner of Pennsylvania's Little Nest Portraits. That requires "a willingness to solicit feedback from those around you to self-improve," she says, as well as paying close attention to feedback you may not have asked for, such as customer complaints or being outpaced by competitors. Little Nest surveys every client to ask for opportunities for improvement, and Meyer has worked closely with a business coach for the past five years to identify personal areas where she needs to improve.

10. You're motivated by challenges.
When confronted by problems, many employees try to pass the buck or otherwise wash their hands of the situation. Entrepreneurs, on the other hand, rise to the occasion. "Challenges motivate them to work harder," says Jeff Platt, CEO of the Sky Zone Indoor Trampoline Park franchise. "An entrepreneur doesn't think anything is insurmountable … He looks adversity in the eye and keeps going."

Candace Nelson, founder of Sprinkles Cupcakes, agrees. Despite naysayers who questioned her idea for a bakery in the midst of the carb-fearing early-2000s, she persevered and now has locations in eight states. In fact, she was one of the first entrepreneurs in a business that became an ongoing craze, sparking numerous copycats.

11. You consider yourself an outsider.
Entrepreneurs aren't always accepted, says Vincent Petryk, founder of J.P. Licks, a Boston chain of ice-cream shops. They may be seen as opinionated, quirky and demanding--but that is not necessarily a bad thing. "They are often rejected for being different in some way, and that just makes them work harder," Petryk says. When his former boss didn't approve of his off-duty research into ice-cream quality, he went out on his own to develop a made-from-scratch dessert in bold flavors. Rather than copying what most other ice-cream shops were doing, including buying from the same well-known suppliers, Petryk forged his own path. His early competitors? All but one are no longer in business.

12 . You recover quickly.
It's a popular notion that successful entrepreneurs fail fast and fail often. For Corcoran, the trick is in the speed of recovery: If you fail, resist the urge to mope or feel sorry for yourself. Don't wallow; move on to the next big thing immediately.

13. You fulfill needs.
Many people recognize marketplace holes, but it is the true entrepreneur who takes them from cocktail napkin to reality, says Jennifer Dawn, partner in New York City-based Savor the Success, a business network for women. "Entrepreneurs think of a way to fix it and take steps to fix it. They are innovators." So when Savor's network of women began asking for advice and input from co-founder Angela Jia Kim, she and Dawn created a new product: Savor Circles. These mastermind groups connect four members who give each other tailored input and expertise; even better, they provide Savor the Success with a new revenue stream.

14. You surround yourself with advisors.
Actress Jessica Alba, co-founder and president of Santa Monica, Calif.-based The Honest Company, which sells baby, home and personal-care products, notes that "it's important to surround yourself with people smarter than you and to listen to ideas that aren't yours. I'm open to ideas that aren't mine and people that know what I don't, because I think success takes communication, collaboration and, sometimes, failure."

"Success takes communication, collaboration and, sometimes, failure."
--Jessica Alba, The Honest Company

In other words: True 'treps don't hire yes men; they talk to those with experience and conduct thorough research, gathering as much information as they can to make informed decisions rather than taking a shot in the dark.

15. You work and play hard.
"Entrepreneurs fall down and pick themselves up until they get it right," says Micha Kaufman, who snowboards and sails in addition to running Fiverr, the fast-growth online freelance marketplace he co-founded.

© 2014 Entrepreneur Media, Inc.

25 Common Things What Successful Entrepreneurs Do

Regardless of your definition of success, there are, oddly enough, a great number of common characteristics that are shared by successful businesspeople. You can place a check beside each characteristic that you feel that you possess. This way, you can see how you stack up. Even if you don't have all of these characteristics, don't fret. Most can be learned with practice and by developing a winning attitude, especially if you set goals and apply yourself, through strategic planning, to reach those goals in incremental and measurable stages.

The Home Business Musts
Like any activity you pursue, there are certain musts that are required to be successful in a chosen activity. To legally operate a vehicle on public roadways, one must have a driver's license; to excel in sports, one must train and practice; to retire comfortably, one must become an informed investor and actively invest for retirement. If your goal is success in business, then the formula is no different. There are certain musts that have to be fully developed, implemented and managed for your business to succeed. There are many business musts, but this article contains I believe to be some of the more important musts that are required to start, operate and grow a profitable home business.

1. Do what you enjoy.
What you get out of your business in the form of personal satisfaction, financial gain, stability and enjoyment will be the sum of what you put into your business. So if you don't enjoy what you're doing, in all likelihood it's safe to assume that will be reflected in the success of your business--or subsequent lack of success. In fact, if you don't enjoy what you're doing, chances are you won't succeed.

2. Take what you do seriously.
You cannot expect to be effective and successful in business unless you truly believe in your business and in the goods and services that you sell. Far too many home business owners fail to take their own businesses seriously enough, getting easily sidetracked and not staying motivated and keeping their noses to the grindstone. They also fall prey to naysayers who don't take them seriously because they don't work from an office building, office park, storefront, or factory. Little do these skeptics, who rain on the home business owner's parade, know is that the number of people working from home, and making very good annual incomes, has grown by leaps and bounds in recent years.

3. Plan everything.
Planning every aspect of your home business is not only a must, but also builds habits that every home business owner should develop, implement, and maintain. The act of business planning is so important because it requires you to analyze each business situation, research and compile data, and make conclusions based mainly on the facts as revealed through the research. Business planning also serves a second function, which is having your goals and how you will achieve them, on paper. You can use the plan that you create both as map to take you from point A to Z and as a yardstick to measure the success of each individual plan or segment within the plan.

4. Manage money wisely.
The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for services, promote and market your business, repair and replace tools and equipment, and pay yourself so that you can continue to work. Therefore, all home business owners must become wise money managers to ensure that the cash keeps flowing and the bills get paid. There are two aspects to wise money management.

The money you receive from clients in exchange for your goods and services you provide (income)
The money you spend on inventory, supplies, wages and other items required to keep your business operating. (expenses)

5. Ask for the sale.
A home business entrepreneur must always remember that marketing, advertising, or promotional activities are completely worthless, regardless of how clever, expensive, or perfectly targeted they are, unless one simple thing is accomplished--ask for the sale. This is not to say that being a great salesperson, advertising copywriting whiz or a public relations specialist isn't a tremendous asset to your business. However, all of these skills will be for naught if you do not actively ask people to buy what you are selling.

6. Remember it's all about the customer.
Your home business is not about the products or services that you sell. Your home business is not about the prices that you charge for your goods and services. Your home business is not about your competition and how to beat them. Your business is all about your customers, or clients, period. After all, your customers are the people that will ultimately decide if your business goes boom or bust. Everything you do in business must be customer focused, including your policies, warranties, payment options, operating hours, presentations, advertising and promotional campaigns and website. In addition, you must know who your customers are inside out and upside down.

Related: Keeping Your Customers Satisfied -- It's All in the Details

7. Become a shameless self-promoter (without becoming obnoxious).
One of the greatest myths about personal or business success is that eventually your business, personal abilities, products or services will get discovered and be embraced by the masses that will beat a path to your door to buy what you are selling. But how can this happen if no one knows who you are, what you sell and why they should be buying?

Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the majority of home business owners have at their immediate disposal.

8. Project a positive business image.
You have but a passing moment to make a positive and memorable impression on people with whom you intend to do business. Home business owners must go out of their way and make a conscious effort to always project the most professional business image possible. The majority of home business owners do not have the advantage of elaborate offices or elegant storefronts and showrooms to wow prospects and impress customers. Instead, they must rely on imagination, creativity and attention to the smallest detail when creating and maintaining a professional image for their home business.

9. Get to know your customers.
One of the biggest features and often the most significant competitive edge the home based entrepreneur has over the larger competitors is the he can offer personalized attention. Call it high-tech backlash if you will, but customers are sick and tired of hearing that their information is somewhere in the computer and must be retrieved, or told to push a dozen digits to finally get to the right department only to end up with voice mail--from which they never receive a return phone call.

The home business owner can actually answer phone calls, get to know customers, provide personal attention and win over repeat business by doing so. It's a researched fact that most business (80 percent) will come from repeat customers rather than new customers. Therefore, along with trying to draw newcomers, the more you can do to woo your regular customers, the better off you will be in the long run and personalized attention is very much appreciated and remembered in the modern high tech world.

Related: Why You Should Never Prejudge a Sales Prospect

10. Level the playing field with technology.
You should avoid getting overly caught up in the high-tech world, but you should also know how to take advantage of using it. One of the most amazing aspects of the internet is that a one or two person business operating from a basement can have a superior website to a $50 million company, and nobody knows the difference. Make sure you're keeping up with the high-tech world as it suits your needs.. The best technology is that which helps you, not that which impresses your neighbors.

11. Build a top-notch business team.
No one person can build a successful business alone. It's a task that requires a team that is as committed as you to the business and its success. Your business team may include family members, friends, suppliers, business alliances, employees, sub-contractors, industry and business associations, local government and the community. Of course the most important team members will be your customers or clients. Any or all may have a say in how your business will function and a stake in your business future.

Related: Why Teamwork Should Be Your No. 1 Sales Tool

12. Become known as an expert.
When you have a problem that needs to be solved, do you seek just anyone's advice or do you seek an expert in the field to help solve your particular problem? Obviously, you want the most accurate information and assistance that you can get. You naturally seek an expert to help solve your problem. You call a plumber when the hot water tank leaks, a real estate agent when it's time to sell your home or a dentist when you have a toothache. Therefore, it only stands to reason that the more you become known for your expertise in your business, the more people will seek you out to tap into your expertise, creating more selling and referral opportunities. In effect, becoming known as an expert is another style of prospecting for new business, just in reverse. Instead of finding new and qualified people to sell to, these people seek you out for your expertise.

13. Create a competitive advantage.
A home business must have a clearly defined unique selling proposition. This is nothing more than a fancy way of asking the vital question, "Why will people choose to do business with you or purchase your product or service instead of doing business with a competitor and buying his product or service?" In other words, what one aspect or combination of aspects is going to separate your business from your competition? Will it be better service, a longer warranty, better selection, longer business hours, more flexible payment options, lowest price, personalized service, better customer service, better return and exchange policies or a combination of several of these?

14. Invest in yourself.
Top entrepreneurs buy and read business and marketing books, magazines, reports, journals, newsletters, websites and industry publications, knowing that these resources will improve their understanding of business and marketing functions and skills. They join business associations and clubs, and they network with other skilled business people to learn their secrets of success and help define their own goals and objectives. Top entrepreneurs attend business and marketing seminars, workshops and training courses, even if they have already mastered the subject matter of the event. They do this because they know that education is an ongoing process. There are usually ways to do things better, in less time, with less effort. In short, top entrepreneurs never stop investing in the most powerful, effective and best business and marketing tool at their immediate disposal--themselves.

15. Be accessible.
We're living in a time when we all expect our fast food lunch at the drive-thru window to be ready in mere minutes, our dry cleaning to be ready for pick-up on the same day, our money to be available at the cash machine and our pizza delivered in 30 minutes or it's free. You see the pattern developing--you must make it as easy as you can for people to do business with you, regardless of the home business you operate.

You must remain cognizant of the fact that few people will work hard, go out of their way, or be inconvenienced just for the privilege of giving you their hard-earned money. The shoe is always on the other foot. Making it easy for people to do business with you means that you must be accessible and knowledgeable about your products and services. You must be able to provide customers with what they want, when they want it.

16. Build a rock-solid reputation.
A good reputation is unquestionably one of the home business owner's most tangible and marketable assets. You can't simply buy a good reputation; it's something that you earn by honoring your promises. If you promise to have the merchandise in the customer's hands by Wednesday, you have no excuse not to have it there. If you offer to repair something, you need to make good on your offer. Consistency in what you offer is the other key factor. If you cannot come through with the same level of service (and products) for clients on a regular basis, they have no reason to trust you . . . and without trust, you won't have a good reputation.

17. Sell benefits.
Pushing product features is for inexperienced or wannabe entrepreneurs. Selling the benefits associated with owning and using the products and services you carry is what sales professionals worldwide focus on to create buying excitement and to sell, sell more, and sell more frequently to their customers. Your advertising, sales presentations, printed marketing materials, product packaging, website, newsletters, trade show exhibit and signage are vital. Every time and every medium used to communicate with your target audience must always be selling the benefits associated with owning your product or using your service.

18. Get involved.
Always go out of your way to get involved in the community that supports your business. You can do this in many ways, such as pitching in to help local charities or the food bank, becoming involved in organizing community events, and getting involved in local politics. You can join associations and clubs that concentrate on programs and policies designed to improve the local community. It's a fact that people like to do business with people they know, like and respect, and with people who do things to help them as members of the community.

19. Always do ROI Promotion
Small-business owners cannot waste time, money and energy on promotional activities aimed at building awareness solely through long-term, repeated exposure. If you do, chances are you will go broke long before this goal is accomplished. Instead, every promotional activity you engage in, must put money back in your pocket so that you can continue to grab more attention and grow your business.

20. Master the art of negotiations.
The ability to negotiate effectively is unquestionably a skill that every home business owner must make every effort to master. It's perhaps second in importance only to asking for the sale in terms of home business musts. In business, negotiation skills are used daily. Always remember that mastering the art of negotiation means that your skills are so finely tuned that you can always orchestrate a win-win situation. These win-win arrangements mean that everyone involved feels they have won, which is really the basis for building long-term and profitable business relationships.

21. Design Your workspace for success.
Carefully plan and design your home office workspace to ensure maximum personal performance and productivity and, if necessary, to project professionalism for visiting clients. If at all possible, resist the temptation to turn a corner of the living room or your bedroom into your office. Ideally, you'll want a separate room with a door that closes to keep business activities in and family members out, at least during prime business and revenue generating hours of the day. A den, spare bedroom, basement or converted garage are all ideal candidates for your new home office. If this is not possible, you'll have to find a means of converting a room with a partition or simply find hours to do the bulk of your work when nobody else is home.

22. Get and stay organized.
The key to staying organized is not about which type of file you have or whether you keep a stack or two of papers on your desk, but it's about managing your business. It's about having systems in place to do things. Therefore, you wan to establish a routine by which you can accomplish as much as possible in a given workday, whether that's three hours for a part-time business or seven or nine hours as a full-timer. In fact, you should develop systems and routines for just about every single business activity. Small things such as creating a to-do list at the end of each business day, or for the week, will help keep you on top of important tasks to tackle. Creating a single calendar to work from, not multiple sets for individual tasks or jobs, will also ensure that jobs are completed on schedule and appointments kept. Incorporating family and personal activities into your work calendar is also critical so that you work and plan from a single calendar.

23. Take time off.
The temptation to work around the clock is very real for some home business owners. After all, you don't have a manager telling you it's time to go home because they can't afford the overtime pay. Every person working from home must take time to establish a regular work schedule that includes time to stretch your legs and take lunch breaks, plus some days off and scheduled vacations. Create the schedule as soon as you have made the commitment to start a home business. Of course, your schedule will have to be flexible. You should, therefore, not fill every possible hour in the day. Give yourself a backup hour or two. All work and no play makes you burn out very fast and grumpy customer service is not what people want.

24. Limit the number of hats you wear.
It's difficult for most business owners not to take a hands-on approach. They try to do as much as possible and tackle as many tasks as possible in their business. The ability to multitask, in fact, is a common trait shared by successful entrepreneurs. However, once in a while you have to stand back and look beyond today to determine what's in the best interest of your business and yourself over the long run. Most highly successful entrepreneurs will tell you that from the time they started out, they knew what they were good at and what tasks to delegate to others.

25. Follow-up constantly.
Constant contact, follow-up, and follow-through with customers, prospects, and business alliances should be the mantra of every home business owner, new or established. Constant and consistent follow-up enables you to turn prospects into customers, increase the value of each sale and buying frequency from existing customers, and build stronger business relationships with suppliers and your core business team. Follow-up is especially important with your existing customer base, as the real work begins after the sale. It's easy to sell one product or service, but it takes work to retain customers and keep them coming back.

James Stephenson is an experienced home based consultant with more than 15 years of business and marketing experience.