Posts Tagged ‘Start Up’

If you know me even a little bit, you know that I’m NOT a supporter of GoDaddy.  I think they are horrible but, these tips are good despite the source they are coming from.

Source: Bob Parsons

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We all want to create a passive online business that allows us to travel the world, sip drinks on the beach and enjoy life to its fullest. But does that reality exist? Is it possible to create a successful online business that practically runs itself? I would say it is, but it requires a few important steps, seven to be exact.

These are the seven steps that have helped me create the life that I want. This has by no means been easy. I’ve worked very hard, but it hasn’t been a chore, because I’ve always followed my heart.

I’m currently addicted to learning Spanish, and I can do that almost all day, every day, because I’ve built up a few passive income streams. I know my motivation will come back, and I will jump back into working, that is the flow of life, but right now I’m enjoying taking a short break.

With all that said, here are 7 effective steps for creating a successful online business: [read]

In the 10 years I’ve been an entrepreneur I’ve heard a lot of excuses from very intelligent people as to why they haven’t started a business. While I could probably write a book filled with those excuses, let’s tackle some of the most common.

1) “I don’t have enough money.”

This could be a good excuse. If you’re trying to start a restaurant chain. Otherwise, I’m assuming you’re reading this because you want to start something mostly web-based. Which means you don’t need much money. If you can’t scrounge up a few hundred dollars to start a business then you really don’t want to start a business. Hell, Kevin Rose started Digg.com for something like $2,000! (The domain itself was $1,200.) [read]

Going into business can be a harrowing experience.  Most seem to turn out very bad because one, or both, partners where not the people they said they were.  Once you’ve been burned, you are very reluctant to enter into another partnership. Here’s an article I found that will ‘HELP’ but it sure doesn’t address all the issues.

A friendship founded on business is a good deal better than a business founded on friendship.

John D. Rockefeller

If you are just starting a business with the intention of forming a partnership, or have come to a place in your current business where you feel you want to take on a partner, you need to do some due diligence. Many of the potential pitfalls of business partnerships can be avoided at the outset with an objective and strategic approach beforehand. [read]

Daniel Odio is co-founder and COO of PointAbout.com, but beyond that, he’s an entrepreneur and gadget geek with more gear in his “social media travel bag” than Carrot Top. Daniel sat down for an interview on The Hopkinson Report Marketing podcast.

So if you want to become an entrepreneur, there’s a theory from the book “The E-Myth” which basically says, the baker should not be running the bakery. What they mean by that is, people think, for example, ‘Oh, I love to bake, I should open a bakery!’ But running a bakery is a completely different skill set than baking…

You can read the full story and listen to the podcast at Wired.com.

The best businesses and the best projects are a quantum leap above the competition. This gulf represents competitive insulation, because others can’t figure out how to get up there with you. Amazon, for example, has a leap between it and other online retailers. Sure, you might be able to mimic part of what they’ve got, but the gulf is so huge, it’s hard to imagine displacing them any time soon. Nike has spent billions on advertising, sponsorship, manufacturing, technology and distribution. It’s a quantum leap between them and some start-up that wants to compete. I think going for the leap is essential for creating a business for the ages, and I want to speculate that there are three ways to make it:

1. BUY IT–you can raise a lot of money or spend a lot of the company’s R&D or marketing money and just buy yourself a huge head start and this provides insulation. (This is my least favorite, because spending like a drunken sailor often leads to other drunken behaviors, including remorse the next day).

2. SNEAK UP THE CURVE–you can quietly develop your business fairly cheaply and then, by the time the competition notices you, it’s too late. Build a Bear Workshop is a great example of this. [read]

If you are a small business owner, chances are that you are both the boss and the employee (and the janitor, shipping clerk, marketing manager, delivery boy, etc). As the old saying goes, “it’s hard to see the forest in front of the trees”. So, as a small business owner, it is good to assess yourself at times, to make sure that you are getting the most out of yourself and that your business is getting the attention it deserves to succeed.  Ask yourself, as an employee am I satisfied with my work?  Would hire myself (or fire for that matter)? Where can I improve? Where am I lacking?

As the boss ask yourself – do I provide myself with the opportunities to succeed? Do I  contribute or do I goof off too much?  This question may seem strange but do ask yourself this.  As a business owner (boss) sometimes we get too caught up with our titles and our ‘business’ that we forget that we are also the most valuable employee we have, so how much will we do to ensure success?

Most of us know that being a small business owner is far from luxurious.  Vacations are dreams, days off aren’t possible, 9-5 work days are a joke.  No one cares as much about your business as you do and if you don’t – fire yourself and find a new job – working for someone else.