“Why Aspiring Entrepreneurs Matter”
Ty J. Young Editorial
There is a lot of news in the media you can consume – terror, markets, politics – and every week we cover them all. This week we wanted to highlight one aspect of the capitalist spirit that is also one of the many reasons America is so great!
Entrepreneurs – the free market is dependent on new businesses, new start-ups, new ideas, and those special talented individuals willing to take the risks necessary to get those businesses off the ground. This matters to your money, because free markets need entrepreneurs and their businesses in order for the economy to grow naturally. If you have children or grandchildren with great ideas, things they would like to bring to the market, encourage their efforts!
For entrepreneurs to succeed, they will need a number of attributes in their personalities and their character. Our top 10 list includes the following:
Top 10 Attributes of the Aspiring Entrepreneur!
1. Under-promise and over-deliver! It would be better to simply be accurate. When forecasting for a potential customer, banker, or prospective stakeholder, make sure that your performance always exceeds the projected goals of the project!
2. Calendar everything … plan everything! It is not good enough to have a to-do list. Everyone has a list … the breakthrough between wanting to be successful and actual success is when you set dates to achieve your objectives, because then you can track whether or not you are succeeding.
3. You must have goals, and you must write them down. Having a goal in mind is not the same as proclaiming what your goals are. Writing down what you want your business to accomplish will serve as a reminder each day of what you are striving to achieve.
4. Pay attention to details. Your clients and customers will expect it, and they will appreciate the sincere interest in getting their experiences right. Happy customers are repeat customers, and they are your best advertisement – in the form of referrals.
5. Do not be afraid to admit mistakes, but never promote your flaws. Admitting when you are wrong is a sign of strength – it shows you are not afraid of truth and doing what is right. That does not mean promote your faults … you should be working to correct them.
6. Always make an impression – Perception is reality to the consumer. This has never been more true than in the age of the internet. Entrepreneurs just starting new businesses have to be careful to manage their public images – branding – to try and avoid negative entries on the first page of a Google search. While much of what is on the internet may not be true, making sure the impression you give is a positive one is a critical factor for any start-up.
7. Hire well. Start-ups require a lot of personal sweat equity to get started, and you will want to – you are an entrepreneur. It is your idea, your baby. If you are hiring anyone, take the time to find the right person. They need personal character and to meet your standards of excellence and hard work.
8. Persevere. Never shy away from stating the obvious, you will need a great deal of perseverance to make your project work. Abraham Lincoln had 11 substantial professional set-backs including failing at business before rising to become President of the United States. Being able to “persevere” will be a great personal asset needed if you are to succeed as an entrepreneur.
9. Ask the client or customer for the sale. Of course it is evident you believe in what you do, but that does not necessarily mean you are a good salesperson. Having a sales process, having a plan to sell your product or service, is just as important as creating the product or service. If you do not “sell,” few people will get to enjoy what you have to offer.
10. You know you are an important part of the free marketplace. Your ideas, and your success, matter to all of us. Entrepreneurs and new business start-ups are the lifeblood of the free market. New ideas, new innovation … you help drive our standard of living forward. Never underestimate your importance to all of us.
New business formation has been in decline during the Obama Administration. Massive increases in regulations and higher taxes have seemingly deterred many entrepreneurs from entering the marketplace.
Start-ups are the lifeblood of our economy, and entrepreneurs are a special breed of capitalist – the original risk takers – and they are a necessary ingredient for our economic success. Voting for the most business-friendly candidate this November, the candidate with best tax reform plans and pro-business platform, is crucial if we are to remain a country of entrepreneurs and to ensure a more traditional form of economic growth.
A healthy environment for your retirement money is one where an economy is growing without artificial stimulant; the most natural form of economic growth comes from the start-up creations of American entrepreneurs. Your money can increase from a growing economy driven by the innovative, start-up spirit of the entrepreneur, and finding the right vehicle for your money that grows – but is also protected – is just a phone call away. 877-912-1919