Twenty Three Top Tips from Entrepreneurs

As we interact with entrepreneurs like you on a daily basis, we are often interested in hearing all your stories, be they (hopefully) success stories or tales of gloom and despondency! The very essence of an entrepreneur dictates that you have plenty of tenacity and spirit and many people believe that entrepreneurs are born, rather than made. However, each one of us needs to hone a really wide array of skills and we sometimes need to refocus to ensure that we are always moving forward and in a constant mode of development. Our daily discussions have prompted us to gather together a list of twenty three tips from entrepreneurs, which we hope are of value during your daily grind!

Always identify the need. Successful entrepreneurs provide goods or services to a hungry market. Don’t make the mistake of coming up with an idea and then trying to see whether it will sell, or not. Analyze the need first.

Apply the KISS principle. Try to keep it simple, as much as you can. If you have too many loops in your sales process, or require the interaction of too many parties to make it all work, you face an uphill battle.

Redefine the work ethic. If you are just setting out as an entrepreneur, you may have thought that you needed to work hard in your previous occupation. Get ready to reinterpret your meaning of hard work!

You, Inc. Essentially, as an entrepreneur, it’s all about you. While you may have a branded product or service, go out of your way to project you as the expert and the valuable cog in the wheel.

Analysis – paralysis. It can be very easy to fall into the trap of constant research and a loop of information gathering. There’s a time and place for this essential element, of course but you must always feel as if you’re placing one foot in front of the other and not hanging in midair.

Surround yourself with excellence. Many experts suggest that you take on the characteristics, ethics and approach of those who you interact with. Try to surround yourself with positive and productive people who have something to contribute to your overall good.

Watch the clock. Time management is a fundamental consideration. Don’t get hung up with analysis, but do make sure that you produce a comprehensive and workable time management plan for your daily and weekly activities.

Just do it. Discipline is everything and never put off until tomorrow what you know should be done today. Over a period of time, this kind of behavior will evolve into a lack of productivity.

Don’t reinvent the wheel. You may have a very novel and exciting concept and expect it to sell like hot cakes. That doesn’t mean that you have to reinvent all the sales, marketing, operational and backup machines that will be necessary to bring your baby to market.

Be like a rhinoceros. You will need thick skin and must be able to brush off any rejections, any negative reactions or naysayers. This is not to say that you should ignore any constructive criticism, or that you should ignore disgruntled customers, but you must be able to bounce back right away.

Be frugal. When things start going well, remember how much of a struggle it may have been in the past. Always maintain a frugal approach and run your business as if every penny counts.

It’s a YE state of mind. It may not be a New York State of mind, as the song goes, but your outlook and approach will dictate your ultimate success. Believe!

Have an appetite. Always be hungry and driven and not “fat and happy.” You must be constantly striving to get to the next level.

Social buzz. If you don’t understand the importance of social networking to your business yet, get on board as quickly as you can. This is a train that has already left the station and you had better jump onto it as soon as you can.

Get a mentor. Seek out someone who has been successful in your niche of operations. If you can develop a personal relationship, all the better. At the least, try and sign up for his or her books, seminars or e-mail newsletters.

Nerves of steel. Becoming a successful entrepreneur requires you to be a lover of roller coasters. If you like those white knuckle rides, be prepared.

SWOT. Take an honest look at yourself and your operations. Can you determine what your strengths and opportunities are? Perhaps even more important, what are your weaknesses and can you envision your threats.

Don’t stand still. Entrepreneurialism is a constant process of evolution. Be always looking for the next opportunity and how you can improve your breed.

Horses for courses. While an entrepreneur must often be the master of all, it only makes sense to allocate some of the complex and important professional elements to appropriate people – accountants, attorneys and other advisers.

Never take off the training wheels. There is no such thing as too much education, so try and fit in seminars or other training courses into your active schedule. These are good investments in your future.

Everything is negotiable. Being in business requires you to be flexible. They say that everything is for sale for the right price and in business, everything is negotiable as you try and achieve a win-win situation.

Shout it from the rooftops. Self promote at all times. Have your own elevator pitch ready and be able to indicate and inform about you, your products and your services.

Believe. With self-confidence and a strong sense of self belief, you can go to the moon.

We would love to hear your tips?

Adam Toren

Not Everyone is an Entrepreneur

A lot of people nurture that dream of dumping the corporate world, with all its regimen and frustrations, and venturing out on their own to run the business of their choice. But the entrepreneurial world is also fraught with challenges, so how do you know if it’s for you?

To help you decide, I’ve put together some of the characteristics which I’ve found distinguish the entrepreneur from the rest of us. There is no good or bad here, just different mindsets. So take a minute, put aside your fantasies, and take a hard look at who you really are. If you recognize yourself in many of these quotes, you will not be happy as an entrepreneur:

1. “I like my life structured with clear decision criteria.” Entrepreneurs do not function well in structured organizations and do not like someone having authority over them. Most believe they can do the job better than anyone else and will strive for maximum responsibility and accountability.

2. “Handling problems causes me stress and pressure.” Entrepreneurs are comfortable in stress situations, and are challenged rather than discouraged by setbacks. They may actually be uncomfortable when things are going well, and are not troubled by ambiguity and uncertainty because they are used to solving problems.

3. “My job is fun when everyone knows and does their job.” The best entrepreneurs enjoy the challenge of an undefined role, and enjoy the learning process as much as success. It’s even better when they can inspire and energize others to do things that have never been done before.

4. “I like to put my mistakes behind me and never think about them again.” Entrepreneurs accept things as they are and deal with them accordingly. They are quick to learn from their failures. They may or may not be idealistic, but they are seldom unrealistic. They want to know the status of a given situation at all times.

5. “Balance and family are important in my life.” Entrepreneurs may devote a disproportionate time to the business. During tough business periods, they will concentrate their energies on business operations, and may stay on the job for extended periods of time. Even at home or at social events, the business is always top of mind.

6. “It didn’t get done today, but there’s always tomorrow.” Entrepreneurs have a never-ending sense of urgency to develop their ideas. Inactivity makes them impatient, tense, and uneasy. They have drive and high energy levels, they are achievement-oriented, and they are tireless in the pursuit of their goals.

7. “That’s not my job.” Successful entrepreneurs can comprehend complex situations that may include planning, making strategic decisions, and working on multiple business ideas simultaneously. They are farsighted and aware of important details, and they will continuously review all possibilities to achieve their business objectives.

8. “I love to get awards for my efforts.” Entrepreneurs find satisfaction in symbols of success that are external to themselves. They like the business they have built to be praised, but they are often embarrassed by praise directed at them personally.

9. “I get frustrated when things don’t work.” Entrepreneurs have a “never, never, never quit” attitude. They are self-confident when they are in control of what they’re doing and working alone. Most are at their best in the face of adversity, since they thrive on their own self-confidence.

10. “Risk and uncertainty cause me to lose too much sleep.” Some of the best entrepreneurs talk about the highs they get from taking a big risk, and the euphoria they feel when they beat the odds. They live for these feelings.

If you are an employee, and you recognize your boss in the quotes, you probably are not a happy employee. If you recognize your CEO or business founder in the quotes, then your business is probably failing. That’s how important it is for the right people to be in the right category.

In my experience, the most unhappy people are the ones who clearly fit in one category, but for various reasons believe they need to be in the other one (entitlement, more money, more prestige, family pressures).

My message to you is do what you enjoy. Life is too short for the alternative.

This is a guest post by Marty Zwilling. Marty is the founder of startupprofessionals.com and for years has provided entrepreneurs with first-hand advice, mentoring and business plan assistance, as a startup consultant. Marty is a member of the Arizona Angels Venture Group, Inc., the Arizona State University Technopolis program, and on the Advisory Board for several startups.

Twenty Hot Young Entrepreneurs Under 30

Sure you’ve heard of Mark Zuckerberg and Mat Mullenweg.  But those two young internet moguls are not as rare as you might think.  There are a whole crop of young, brilliant, and motivated entrepreneurs under the age of 30 that you’ll want to watch in the next few years:

1.     Name:  Aaron Patzer

Company:  Mint.com (http://www.mint.com)

Patzer is responsible for the concept and technical execution of the simplest, most effective money management system online.  Mint.com gives users instant access to all of their personal accounts, budgeting, bills, investments and savings—making it easy to manage them all even without a degree in accounting.

2.    Name:  Leanna Archer

Company:   Leanna’s Hair (http://www.leannashair.com/)

Leanna Archer is 13-years old.  She’s been running her company since she was nine, creating natural hair care products and selling them online.  She’s been on TV and interviewed for all kinds of publications, but she remains humble and hardworking.  This young lady has many years of success ahead of her.

3.    Name:  Sheena Lindahl and Michael Simmons

Company:  Extreme Entrepreneurship Education Corporation (http://www.extremee.org/)

This young couple achieved a measure of success on their own before they met.  Lindahl was able to pay her way through school, author a book and co-found her own business all before she was twenty.  Simmons started his first business when he was sixteen and was the winner of three “Entrepreneur of the Year” awards.  Together Lindahl and Simmons have launched the Extreme Entrepreneurship Education Corporation, offering education and guidance for other young entrepreneurs.

4.    Name:  Noah Lehmann-Haupt

Company:  Gotham Dream Cars (http://www.gothamdreamcars.com/)

Lehmann-Haupt started his business when he was twenty-five.  He bought a Ferrari and started renting it out.  With the profits he made from the rental, he bought a second sports car and continued until he’d built a fleet of 20 high end rental sports cars.  Gotham Dream cars was ranked number 275 of the 5000 fastest growing private companies in 2008.

5.    Name:   Sean Belnick

Company:  bizchair.com (http://www.bizchair.com)

Belnick started his company at age 14 with $500 in startup capital.  At age 19, he’s now a multi-millionaire and the owner of the premiere office furniture commerce website Bizchair.com.

Check out the CNN interview with Sean Belnick:  http://www.youtube.com/watch?v=tT7EjG7fP28

6.    Name:  Rob Kalin

Company:  Etsy.com (http://www.etsy.com)

Even though Etsy.com is one of the most popular websites launched in the past ten years, founder Rob Kalin doesn’t consider himself a “techie.”  Kalin is a carpenter and understands the need for hands-on creative individuals to be able to show their stuff online without a bunch of complicated site tools getting in the way.  His website, Etsy.com is an e-commerce site that that facilitates buying and selling of handmade goods from artists around the world.

7.    Name:  Vu Thai

Company:  Efficient Lighting   (http://www.efficientlightingco.com/)

Thai started a company that manufactures fluorescent lamps and light fixtures that use 75% less energy and last up to ten times longer than traditional light fixtures.  His company is riding the wave of environmental consciousness, and works with companies that are making efforts to overhaul their practices to become more environmentally friendly.

8.     Name:  Ulia Alkire and Stephanie Goldman

Company:  Family Creations  (http://www.familycreations.net/)

Alkire and Goldman met one another when they were working for another egg donor program and realized they had the ability to do great things with their combined talents.  They’ve built their company, Family Creations, as an intermediary between egg donors and couples looking for assistance in building their family.  Alkire and Goldman founded their company in 2006 and produced more than $200,000 in revenues in 2008.  They’ve already expanded to open a second office.

9.    Name:  Seth Flowerman

Company: So Career Explorations  (http://www.ceinternships.com/home.asp)

Flowerman developed his premium internship program for students age 16-18, providing them with first class mentorship, real life experience, and a wide range of social and professional exposure that will serves as a foundation for their entire career.   The program is expensive and highly competitive; but response has been overwhelming.

10.      Name:  Johnny Earle

Company:  Johnny Cupcakes  (http://www.johnnycupcakes.com/)

Earle dropped out of college after a couple weeks and started making buttons to sell at rock concerts.  In 2001, he launched his own t-shirt business and by 2007 he was a multi-millionaire.  His iconic logo and fresh t-shirt designs have a cult following among the young and chronically hip.

11.    Name:  Andrea Marron

Company:  Studio 28 Couture  (http://www.studio28couture.com/index.html)

Andrea Marron founded Studio 28 Couture as a college junior.  The company allows women to design and order custom made dresses (in the U.S.A.)  from her website.  It is the closest thing that most women can get to haute couture.

12.     Name:  Sudhin Shahani

Company:  Musicane  (http://www.musicane.com/)

Misicane is like Etsy.com for musicians.  Independent artists can set up shop on the site, sell their music, link back to it from their own websites, and basically use it to promote themselves all over the internet without having to worry about setting up distribution from their own site.  The company has gained the support and attention of big name artists like Nine Inch Nails’ Trent Reznor and Lil Wayne who are ready to forego the traditionally controlling record labels.

13.    Name:  Angelo Sotira

Company:  Deviant Art   (http://www.deviantart.com/)

DeviantArt is the original online artist commune, providing space for visual and graphic artists as well as poets, writers and photographers to show their stuff.  The site also has a social networking aspect which allows artists to form relationships and build up a following of virtual supporters.  Artists also have the ability to sell work through the site, generating profit for both the artist and DeviantArt.  Sotira founded the site when he was fifteen, and continues to head the company.

14.    Name:  Adnan Aziz

Company:  First Flavor  (http://www.firstflavor.com/)

Aziz revolutionized marketing by creating a method for advertisers to distribute samples of their product in easy to handle flavor strips that can be incorporated into print media such as magazines and newspapers.  At 24 years of age, Aziz is both an entrepreneur and an innovator to watch for many more years.

15.    Name:  Noah Glass

Company:  Gomobo  (http://gomobo.com/)

Gomobo is a service which allows you to order ahead and pay at your favorite restaurant using your handheld mobile device.  The service will alert you when your order is ready; you can skip ahead of the line, grab your order and get out.  It’s a simple idea that managed to generate almost $2 million in revenues during 2008.

16.    Name:  Joel Holland (http://www.footagefirm.com/)

Company:  Footage Firm

Footage Firm provides quality royalty-free digital video stock footage at drastically discounted rates from traditional stock footage.  Packaging the video footage together into collections, Holland markets and sells 30-60 minute sets of video for $149 each.  Holland isn’t just a one-trick pony, however.  He’s a journalist, activist, and public speaker who is making his mark in every media possible media format.

17.    Name:  Sumaya Kazi  (http://www.theculturalconnect.com/index )

Company:  The Cultural Connect

Kazi is the creator and director of a collection of websites known as The Cultural Connect, a collection of five online magazines that feature movers and shakers in five different ethnic groups:  South Asian, Middle Eastern, African, Asian, and Latin.  The site allows other young professionals to make connections with one another and create a virtual community.

18.    Name:  Sean Kelly

Company:  Fit Fuel  (http://www.fitfuel.com/)

Kelly has created a company that offers 100% healthy vending machines in schools and other public locations.  This, along with his sales of nutritional and fitness products has made FitFuel.com a powerhouse company that is not only earning revenues—it is revolutionizing the way people eat and live.

19.    Name:  Raj Lahoti

Company:  Online Guru  (http://www.onlineguru.com/)

Raj Lahoti took on something that most people avoid at all costs:  The Department of Motor Vehicles.  Seeing the misery that was caused from a lack of information from the local DMV, he developed a website called dmv.org where people in all 50 states can access their specific DMV requirements and take care of all your motor vehicle needs—including finding car insurance.  Under the umbrella of Online Guru, Lahoti also developed UnitedStates.org and Classifieds.org.

20.    Name:  Seth Berkowitz

Company Name:  Insomnia Cookies  (http://www.insomniacookies.com/press/)

Sure you can get a pizza in 30 minutes; but what do you do if you’ve got a sweet tooth?  Berkowitz started selling and delivering cookies from his dorm room at night and realized there was a killing to be made.  From his single one-man operation, the company has now grown to over 8 locations with 100 employees.

The Toren Brothers’ List of the Top 10 Best FREE EBOOKS for Online Entrepreneurs & Small Business Owners

Starting up a small business is a challenge for anyone, even the most seasoned and experienced entrepreneur. Reading is one of the keys to keeping yourself stimulated and learning new things that can help you grow your business. Thanks to the internet, we now have access to more information than we’ve ever had before—and there are hundreds of ebooks that allow you to increase your knowledge. Even better, many of these ebooks are free; and there’s not a small business owner out there who doesn’t appreciate the meaning of that word.

My brother and I have compiled our top ten list of the best ebooks for small business owners. We are certain that you will find these useful regardless of what kind of business you have, or what stage of development you’re in.

1. The Bootstrapper’s Bible
http://changethis.com/8.BootstrappersBible

The internet business and marketing guru Seth Godin offers up a fantastic book on starting up and running a business without going in over your head; a must-read for every entrepreneur in the current economic climate.

2. 50 Guerrilla Marketing Tactics You Should Be Using
http://www.bootstrappingblog.com/ebooks/50_Guerrilla_Marketing_Tactics_
You_Should_Be_Using.pdf

All’s fair in love and…marketing? You bet! This collection of fifty “guerrilla” marketing tactics is a great way to start setting your business apart from the pack by creating memorable, compelling marketing campaigns.

3. How to Start a Business Blog
http://www.scribd.com/doc/3046411/How-to-Start-a-Business-Blog

One of the most comprehensive ebooks on the subject, How to Start a Business Blog is an 82 page book that covers practically every aspect of creating and using a blog to market your business.

4. Let’s Talk: Social Media For Small Businesses
http://officeliveoffers.com/ebook/socialmedia/SocialMediaEbook.pdf

Web 2.0 and social media have been around a while, but they are just starting to catch the attention of the mainstream business owner. This is a simple but practical book that can get you started using these powerful tools.

5. Beginner’s Guide to Search Engine Optimization
http://www.seomoz.org/article/beginners-guide-to-search-engine-optimization

If you plan to do business online, the key to success is driving traffic to your site. SEO is the art of constructing your website and writing text that is search engine competitive.
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