Browsing CategoryBusiness/Entreprenurship

With every season comes change and variety. But some people won’t change. They’re stuck on the same old ways. And I am particularly referring to entrepreneurs who believe in luck. Sure, there’s an element of luck in entrepreneurship, but it becomes a problem when you rely on luck to do the work for you. I call such people “lucky” entrepreneurs. I don’t mean they’re successful, I just mean they’re waiting for luck to turn their business around. Are you a “lucky” entrepreneur? How much of your thoughts about your business are anchored in chance? 1. Effort v. Luck I recently…

Coming up with a business idea is an exciting time. You feel a surge of motivation to start taking action and to materialize your ideas into a profitable startup. It’s certainly a great feeling to have. But how do you know that your idea will in fact be profitable? You surely don’t want to invest 6 months of your time and energy creating a product only to realize that the idea isn’t going to work. You also don’t want to lose your money in the pursuit of something that was deemed to fail from the start. That’s why you have…

Startups can fail for many reasons. The product features are not prioritized in the right way. There is no need in the market for your product. Your funds dried up. You don’t have the sales skills to connect with customers, and so on and so forth. However, a lot of startups fail when money comes before passion. Let me explain. If you’re in business for money and you don’t care much about the product or service that you’re promoting, then you’re setting yourself up to fail. Money shouldn’t be your motive for getting into a certain business. It shouldn’t be…

In his most recent TED talk, Bill Gross gave a powerful presentation titled; what’s the single biggest reason for why startups succeed? See here for the video. Gross started dozens of companies, some of which became successful and some never got off the ground. And in his journey in the business world, he analyzed his successes and failures as well as more than 200 companies and looked into what made a business fail or succeed. According to Gross, there are five key factors that influence the success of business. Idea Team Time Funding Business Model Based on the studies he…

Many great entrepreneurs never get to the finish line. They’re paralyzed by various fears. The fear of failing, the fear of success, the fear of trying, the fear of rejection, the fear of losing money and so on and so forth. But if you keep yourself in those chains, you will sabotage yourself and hurt your goals. As an entrepreneur, you need every edge you can get to make it to the next level. And if you surrender to yourself and to your beliefs, you won’t make it. In fact, tackling fear is perhaps one of the most important business…

Launching your startup business is a time of tremendous excitement. You rent an office space, purchase all the equipment/technology you may (or may not) need, and you start working on your first product. You’re the happiest most driven person you’ve been in a while and everything feels right for once. You’re in a go mode and it seems like no power is this world can stop you from reaching your goals. However, 2 – 3 months into the business and as your endorphin levels (the feel good hormone) return to their normal balance and stabilize, your euphoric excitement will slowly…

There’s a lot of talk these days around the idea of single-tasking. Multi-tasking and working on a whole lot at once is distracting. And if you’re not careful, your margin of error will increase exponentially. That’s why a lot business bloggers have been focusing on single-tasking. Giving a single task your full undivided attention makes it much more likely for you to finish it faster and more efficiently. Additionally, working on your tasks sequentially instead of simultaneously reduces your risk of error and helps you get the job done. There are certainly a lot of merits to taking up one…