Friday, January 21, 2011

12 Traits of Highly Successful Entrepreneurs

one.  Successful Entrepreneurs are proactive learners

After understudying the lives of successful entrepreneurs, i have been able to pinpoint 12 traits that make them successful. Without wasting your time, below are the 12 traits of successful entrepreneurs:

They read industrial journals, books and magazines. They attend seminars and update themselves regularly with the latest industrial trend. Successful entrepreneurs know that their cup is never full; they know that they don't have the right answers to all questions. So they humble themselves and learn when availed the chance.

Entrepreneurship is a life long process and successful entrepreneurs know this. Things change so fast in the business world; you could be an innovation today and become obsolete tomorrow. To stay on coursework and change swiftly to the ever changing trend, successful entrepreneurs keep studying and learning.

I have never seen a successful entrepreneur who rose to the head of success without a measurable amount of risk. Successful entrepreneurs are risk takers; they risk their time, energy and resources with the hope of building a powerful business. In the event that they fail, they risk losing everything they have ever owned. Risk is the main reason lots of employees fail to start a business.

two.  They prosper on risk

Working at no cost is of the traits of successful entrepreneurs that set them apart from others. It is hard to find individuals who will be willing to work at no cost, without pay for lots of years but successful entrepreneurs do this. They work on their business for lots of years without pay.

two.  They work at no cost

five.  They work longer hours than employees

Being an entrepreneur, i can attest to this trait because i have built businesses without getting a dime from them for some years. All profits generated are re-invested in to the business. To be a successful entrepreneur, you must always bear in mind that you are not building a job for every month pay. In lieu, you are building an asset that can generate residual income for you and add value to humanity in the approaching years.

Successful entrepreneurs are known for their weird resilience and long standing dedication to the coursework of building a business. Building a business is never simple and it requires time and dedication. Some entrepreneurs are known to work for 70 - 80 hours per week while average employees work less than that.

So in the event you are going to join the league of successful entrepreneurs, then you definitely require to create the trait of working longer hours than normal.

two.  Successful entrepreneurs learn quickly from mistakes

Of all the traits of successful entrepreneurs, this interests me the most. Lots of individuals shy away from the game of entrepreneurship because of the fear of making mistakes. They perceive mistakes as bad because mistakes sometimes cost funds and pain; so they avoid it like a plague. But successful entrepreneurs see mistakes as a learning tool; they see it as a chance to learn something new.

Successful entrepreneurs make mistakes in business but they don't quit. They know mistakes are part of the process of entrepreneurship, so they learn quickly from these mistakes and move on. In the event you are being held back by the fear of making mistakes, i will recommend you read the news story "How to learn from your mistakes in business."

"Even a mistake may turn out to be the thing necessary to a worthwhile achievement." - Henry Ford

6.  They have the ability to run on debt

"Excuses cost a dime and that is why the poor can afford lots of it." - Robert kiyosaki

"Be cautious when you take on debt. In the event you take on debt personally, make definite it is small. In the event you take on giant debt, make definite someone else is paying for it." - Rich Dad

As a rule of life, they are all indebted to someone in way or the other. With respect to building a business, i have never seen a successful entrepreneur that has not been in debt. Everyone owes but successful entrepreneurs know how to make use of debt to their advantage, they know how to make use of debt as an device and leverage to build a business and get richer.

Successful entrepreneurs are accountable and responsible for the failure or success of business. They shoulder the responsibility of piloting the business through its trying times. In the event that they succeed, it becomes a and to them but in the event that they fail, they are going to be blamed.

7.  They are accountable and responsible

8.  They prosper on criticism

Another trait successful entrepreneurs share in common is the ability to forge ahead in the face of criticism. Building a business comes with its own challenges; as the entrepreneur, you are bound to be loved and loathed by the public. But successful entrepreneurs always devise a way to make use of every tiny bit of criticism to make themselves better and stronger.

"Sometimes, i think my most important job as a CEO is to listen for bad news. In the event you don't act on it, your people will finally cease bringing bad news to your attention and that is the beginning of the finish." - Bill Gates

"When everything appears to go against you, keep in mind that the airplane takes off against the wind, not with it." Henry Ford

9.  Successful entrepreneurs are ambitious

Ambition is of the traits of successful entrepreneurs. Successful entrepreneurs think giant and do things giant. They are never satisfied with their current achievement; they think there is always room for constant improvement and they go for it.

ten.  They are opportunist

Take a glance at Mukesh Ambani's achievement in building Reliance Group; the world's largest refinery. Lakshmi Mittal built Mittal Steel, the world's largest steel producer. Look at Larry Ellison's ambition to surmount Microsoft. In generality, entrepreneurs are ambitious personalities.

"The way to make funds is to buy when blood is running in the streets." - John D. Rockefeller

This is another trait of successful entrepreneurs. Successful entrepreneurs share a common ability to see opportunities, where others see issues. They know that behind every issue lies a chance. Successful entrepreneurs are the drivers of creativity and innovation.

11.  They are great leaders

Successful entrepreneurs are great leaders with a proven leadership strategy. They possess the ability to bring out the best in their employees. They inspire creativity and foster innovation. They also have the ability to hire and lead smarter individuals.

"Good leadership consists of showing average people how to do the work of superior people." - John D. Rockefeller

12.  Successful entrepreneurs are team players

"Go to the wolf, think about its ways and be wise. A wolf will never hunt alone; it hunts in packs because it knows the power of team work." - Ajaero Tony Martins

"I require to start my own business," 'i require to be my own boss,' 'i require to do this my own way.' These are the words i often listen to from would be entrepreneurs. Successful entrepreneurs know that entrepreneurship and investing are team sports. So therefore; they never work alone, they join forces with other entrepreneurs and professional advisers to build a stronger business.

In conclusion, these are the 12 traits of successful entrepreneurs which you must possess to succeed. Successful entrepreneurs were not born with these traits, they developed them over time. You can also create these traits if only you are willing.

Friday, January 14, 2011

ACN Scam Or A Wise Choice For A Home Business?

ACN--formerly known as American Communication Network--was founded in 1993 by Greg Provenzano, Robert Stevanovski, Mike Cupisz, & Anthony Cupisz. Based in North Carolina, the company claims on its web-site to be the largest direct selling telecommunications company in the world. They provide local & long distance calling, web, wireless, home security any satellite TV. They also offer digital phone service as well as a video phone.

My purpose here is not to form a judgment either for or against this company, its management, products, or business model. , it is my objective to provide information to interested readers who may be looking for a reliable work at home opportunity in order to make a significant income at home. Some of theadvantages of working from home include the following:

These advantages are part of any work at home business, including ACN.

one. Freedom from the demands of a boss telling you what to do
six. Freedom from fighting rush hour traffic
six. Work where & when you like
two. Freedom from office backbiting & snippy comments
seven. Select your own work apparel (warm-up suits & jogging shoes are often all right)
6. Tax advantages that are granted to having a home office
7. Your earnings depend on how hard you choose to work

As with other multilevel promotion (MLM) companies, sales for ACN are generated primarily by independent contractors known as sales representatives. Representatives document that the company discourages icy calling & "selling." They recommend that their reps sell to their "warm" market-consisting of relatives & friends. They also stress the importance of teaching those "sold" customers to then do the same in return with their own relatives & friends. This sort of network promotion depends on word of mouth promotion, thereby reducing promotion costs. ACN also secured an agreement with Mr. Donald Trump to endorse their products & services. An endorsement of this magnitude may be one-of-a-kind in the multilevel promotion industry.

ACN claims to help its customers economize on telecommunication services that they already use. service offered is VOIP technology-Voice Over Web Protocol. This know-how utilizes a web connection for routing phone calls, that can be more efficient & less expensive than other methods. Most reports recommend that their products & services are excellent. Their video phone allows voice & video communication between individuals who use this service.

Let's look at the business opportunity from an independent contractor's view. To join ACNcosts between $400 & $500, & then there's yearly charges of around $275 ($149/year and $10/month.) The commissions earned appear to be little, based roughly on 1% of each customer's every month service charges. Some estimates are that a new sales rep must recruit & retain 40 regular customers in order to recoup their preliminary investment & annual fees-that is, to break even. (Commission on a every month service bill of $100, for example = $4. Securing 40 customers at this level generates a gross commission of $160 per month, or $1920 per year before taxes & expenses. If a customer's every month bill is $150, the commission at 1% = $6. Securing 40 customers at this level would generate a commission of $240 per month, or $2880 per year.) These estimates compare well to a reported $40 gross average every month income for distributors in the largest multilevel promotion company-Amway. It seems that a nice portion of the commissions paid to the top 0.5% of representatives comes from hopeful new sales reps, than from loyal customers.


The business paradigm of multilevel marketing--also known as network marketing-has been around for lots of years. attraction is the little investment necessary to open your business. Lots of observers feel that the marketplace is oversaturated with multilevel marketers. Thousands of companies exist, selling all sorts of things. Individuals who know about MLM usually resist invitations to go to sales presentations thinly disguised as "opportunity" meetings. This is true whether the presentations happen in someone's home or a rented meeting room. Stores about such meetings may have contributed to the reasons wnythe MLM business model has become stale & worn.

 all of homebusiness owners do not like selling. Regrettably, this is exactly what it takes to become successful in ACN or any kind of multilevel promotion. Trying to recruit & sell relatives members or loyal friends can permanently destroy these relationships. Lots of find it mentally & emotionally exhausting to have tocontinually serve as a cheerleader for others. This requirement is essential so that new representatives will repeat the system & sell others on the services or products as well as the business opportunity.

This observation is not limited to ACN, but is typical of all businesses that use the network promotion model. Your income in MLM depends not only on your personal efforts, butalsoupon how effectively you encourage others to work who are in your downline. Thus, your job becomes to one) persuade people to become your customers, six) teach them about the products & services, six) show them how to sell, & then to two) keep them motivated on a every day basis. Estimates are that about 70% of all "distributors" or reps in MLM businesses drop out within their first twelve months.

In recent years, lots of home business owners have reported greater success by promotion their services or products across the Web. Their own efforts select their success to a much greater degree than with MLM. This new business model provides web entrepreneurs with a great deal more control of their income & work conditions.

Friday, January 7, 2011

How To Make A Business Letter

The Business Letter is of the most often used formats for writing a typical, employment-related & business proposal issues. A number of the letters are disorganized & confusing to read. This full block business letter features a formal part & the variations are often custom-made. The words in here are & the communication will deliver an ideal way.

Business Letter is of the formal letters often used for typical, employment-related & business proposal purposes. These format has a simple guidelines & straightforward to make variations to writ letter as quick & straightforward while delivering sufficient words in a amazingly way without confusing the reader.

The First Heading must be containing your name, address, phone, date today, e mail address & a reference line.

Here are the guidelines on how to write & compose a simple & straightforward yet understandable letters that brings adequate words in a comprehensive way without confusing the recipients.

The Certified Mail is often not in used to some but in case you need to have at least, you may include if it is an airmail, special delivery or certified mail.

The Reference Line must have a recipient's request information, job reference & bill number.

The Attention Line contains the name of the person whom you are sending the letter.

The Second Heading must have the name & address of the person or company to whom you will send your letter. lines are the standard lines to complete your second heading.
1.Ladies
2.Gentlemen
3. Dear
4.Sir
5.Madam
6.To Whom It May Concern

The Salutation Line shows respect to the name of the recipients. The most ordinary & common salutations are

The Subject Line is a concise topic involving your purpose in writing a letter. It could be a Resignation Letter
1.Letter of Reference
2.Letter of Inquiry
3.Completion Letter
4.Proposal Letter
5. Complaint Letter

The Body of The First Paragraph states the main point of the letter. Start with a friendly & lovely opening. Then, quickly translate in to the purpose of the letter. Use couple of sentences to clarify & describe your purposes but never go in to the detail because it is early to relate the main idea.

Start the Second Paragraph stating a support idea to justify your purpose. These may contain the type of background information, statistics & first hand accounts. A few short paragraphs are to support your reasoning.

In the Closing Paragraph, restate your purpose & site why it is important. Think about closing with gratitude for your informational purposes.

The Complimentary Close includes a degree or tone of formality. Such as:
- Respectfully your - for formal type of letter
- Truly Yours - for polite & neutral kind
-Honestly - for less formal & typical type
- Cordially - friendly but casual arrangement type of a letter

The Signature Block is exactly your name. Sign it below your name.

Here are the tips in writing a formal letter

one. Don't ever type the brackets. The brackets ought to have a part text indicated as replacement.

four. Make a space between lines so your letter won't look overcrowded & untidy.

four. Keep your letters in page. Type page four texts in case you have a continued pages.

two. Don't leave space in case you don't type the more formal parts.

two. Have the same goes margins. For short letter, you may have & one-half inch. For Longer letters that are standard ought to have a one-inch margin. If there a letterhead, the positions of the words are determines the top margin.

  • 6. Pick a nice quality of paper because this may represents the worth of your persona.

Monday, January 3, 2011

Market Competition Perfect and Monopolistic Competition

The business community continually changes & possession of businesses alter hands as smaller entities are swallowed up by bigger corporations. They listen to about it on a regular basis in the news, but yet only a few people can name a example of monopolistic competition, or realise what the definition monopolistic competition is. This article gives a brief insight in to the definition monopolistic competition & monopolistic competitive firm.

The definition monopolistic competition is firms which in effect hold a monopoly over their products, in that the firm can influence the market cost of its product by altering the rate of production. Monopolistic competitive firms produce products that are not ideal substitutes or are at least perceived to be different to all other brands products.

Unlike in ideal competition, the monopolistic competitive firm does not produce at the lowest feasible average total cost. In lieu, the firm produces at an inefficient output level, reaping more in additional revenue than it incurs in additional cost versus the efficient output level.

It could be said, to name a example of monopolistic competition, firms who control oil production or gas production are monopolistic. They produce identical products except for branding, but due to a comparatively low number of firms who control the giant amount of the product, can control the cost to an extent by decreasing supply slightly.

An example of an ideal competition is some agricultural markets, where supply is to meet demand. However, this example is not strictly the case in places such as Europe, where subsidies are provided encouraging farmers to produce as much as feasible irrespective of demand.

The opposite of monopolistic competition is ideal competition. Ideal competition is an economic model that describes a hypothetical market form in which no producer or consumer has the market power to influence prices. While monopolistic competition is inefficient, ideal competition is the most efficient, with supply meeting demand & production therefore matching this, so stock is not sat in storage for extended periods or going to waste.

Perhaps the best examples of ideal competition companies would be giant auctions of identical goods with all potential buyers & sellers present. By definition, a stock exchange resembles this. The flaw in thinking about the stock exchange as an example of Ideal Competition is the fact that giant institutional investors (e.g. investment banks) may solely influence the market cost. This, of coursework, violates the condition that "no seller can influence market price".

Sunday, January 2, 2011

Know more about business networking

There are plenty of people there that would like to make positive that they will make more funds at the finish of the month & in case you are such person, then I think that are in great need for some tips in order to start out your now business. Since the net has appeared there's been practically millions of people that have started a business on the net & this way they have avoided the bad effects of the economical crisis.



So, of the first things that you need in order to start a business is to have a great idea. With no ideas, you won't be able to step in to the market at all. In case you don't know what you could start a business in, then you won't must worry about this much, for you will certainly be able to contact some business networking professional in order to help you out.





In case you need, you can basically find them on the net & you will be happy when you will get to take advantage of their services & practically see that they were the ones that you always needed to speak with. The basic issue when everyone would like to start a business is the idea of a business, but after that, there's plenty of hurdles that need to be taken care of.



As a beginner, you practically are not aware of such thing & you will certainly not need to delve in to them & risk all of your funds & time to find out something that you might have been let in on basically in case you would have only asked the right persons.



Also, you ought to know that networking groups are where you will get to spend most of your time in when you will get to take advantage of such services & you will get to see new people, meet new people that are thinking like you & are also in the same business as you are.

Being in a professional surroundings with like minded people you will always be able to evolve as a businessman & you will certainly be able to make plenty of money soon. So that is why you will seldom must give up your goals & your dreams & push on as much as you can. In no time, you will get to be able to accomplish everything you have desired to & even get new business opportunities.



In case you loved this news story & you would like to receive more info regarding Business Networking, kindly visit us, business networking.

Saturday, January 1, 2011

EBOOKS BUSINESS OPPORTUNITY - BUY EBOOKS WITH RESELL RIGHTS

I am always looking for ways which will be helpful to someone who wishes to start an Online Business. of the simplest ways which I found was to acquire Master Resell Rights to Info Products of high quality. I did that and could set up my EBooks Business  instantly. I got in to the position to resell these EBooks as in the event that they were my own products because I had the rights to do that. It necessary only a small money investment and minimal hard work to set it up and I could make full profits out of the products which I resold. But I also must admit that I had to put in some serious efforts in promoting the EBooks Business which consists of EBooks and also Application Products. In case you need to make serious profits in any Online Business and in our case the EBooks Business you must be prepared to put some work in your promotion efforts. Buyers will must find your site and your most important task will be to make it popular. Otherwise you will have a site which nobody can finding and when you have no customers you won't make any profits. Everybody can understand that instantly. You need to pay attention to your promotion undertakings. In case you follow that you can become successful in the EBooks Business. One time fully established and your EBooks Business being reputable and trusted it can bring to you giant online profits.

EBOOKS BUSINESS OPPORTUNITY - BUY EBOOKS WITH RESELL RIGHTS

There's lots of ways open to you when promoting your EBooks Business. There's paid and free options available for you. In my future articles I will try to provide Online Promotion Tips on the free ones. They can be set up basically and a quantity of them will deliver to you an  immediate traffic surge. This can mean quick profits for you. In case you put some honest hard work in your Online Promotion you will notice positive results for sure. The advantages which you have in the EBooks Business is the fact that you can set it up basically. Whats more important your EBooks Business can be fully automatized. So take some time and inspect this EBOOKS BUSINESS carefully !