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#21
Entrepreneurship & Business Forum / What are some tips for a succe...
Last post by Madona - May 12, 2023, 11:55 AMHere are some tips you should keep in mind:
1. Your main priority should be to acquire paying customers. This means that you should not worry about the appearance of your logo or website until you have enough income to pay for these things.
2. Always focus on your cash flow, which requires more money coming in than going out. To achieve this, consider all possible ways to generate income, such as buying office space and leasing it out to your own company and others. Be creative but keep your attention on cash flow.
3. Continuously educate yourself in your field and also stay up-to-date with new emerging fields. Stay on top of changing trends, as no job or business is ever completely safe. Do not try to outspend your competition; instead, be different and dominate that difference. Find your unique way of doing things, just like David found his own way to defeat Goliath.
4. Creating a solid business plan with written goals is crucial. Celebrate small victories but keep your focus on the larger goals, and ensure that your staff is aware of them too. Hire the right people who are passionate about what they do, not just those who are motivated by money. Do not wait too long to fire people who are not contributing to the success of your business.
5. Don't be afraid to try new things and make mistakes. Don't let fear hold you back. If you fail, ask for forgiveness instead of permission. Don't let the fear of getting in trouble or making mistakes stop you from taking risks and exploring new opportunities.
1. Your main priority should be to acquire paying customers. This means that you should not worry about the appearance of your logo or website until you have enough income to pay for these things.
2. Always focus on your cash flow, which requires more money coming in than going out. To achieve this, consider all possible ways to generate income, such as buying office space and leasing it out to your own company and others. Be creative but keep your attention on cash flow.
3. Continuously educate yourself in your field and also stay up-to-date with new emerging fields. Stay on top of changing trends, as no job or business is ever completely safe. Do not try to outspend your competition; instead, be different and dominate that difference. Find your unique way of doing things, just like David found his own way to defeat Goliath.
4. Creating a solid business plan with written goals is crucial. Celebrate small victories but keep your focus on the larger goals, and ensure that your staff is aware of them too. Hire the right people who are passionate about what they do, not just those who are motivated by money. Do not wait too long to fire people who are not contributing to the success of your business.
5. Don't be afraid to try new things and make mistakes. Don't let fear hold you back. If you fail, ask for forgiveness instead of permission. Don't let the fear of getting in trouble or making mistakes stop you from taking risks and exploring new opportunities.
#22
Entrepreneurship & Business Forum / What is the most efficient way...
Last post by Madona - May 12, 2023, 11:19 AMThe approach to implementing this concept in your startup may vary depending on your business model, but here are some suggestions:
1. Pre-sell your products or services to get a down payment or collect payment upfront and ship later. This will help you generate cash quickly and use OPM to pay for fixed costs and hire talented people.
2. Don't get complacent once you have enough sales to meet your needs. Keep selling because most entrepreneurs tend to stop once they reach a certain point. This is a dangerous mistake, and you must keep pushing forward.
3. If possible, extend the delivery time of your product or service. For instance, if you require 30 days to complete a website, ask for 45 or 60 days. This will allow you to continue selling while giving you extra time to complete your work to an exceptional standard.
4. Last but not least, focus on scaling your business last. This means avoiding spending all your time and money on developing your product, building a website, creating logos, taking glamour shots, or other non-essential activities. Many entrepreneurs make this mistake and never generate any revenue. Instead, focus on generating sales and scaling up later.
1. Pre-sell your products or services to get a down payment or collect payment upfront and ship later. This will help you generate cash quickly and use OPM to pay for fixed costs and hire talented people.
2. Don't get complacent once you have enough sales to meet your needs. Keep selling because most entrepreneurs tend to stop once they reach a certain point. This is a dangerous mistake, and you must keep pushing forward.
3. If possible, extend the delivery time of your product or service. For instance, if you require 30 days to complete a website, ask for 45 or 60 days. This will allow you to continue selling while giving you extra time to complete your work to an exceptional standard.
4. Last but not least, focus on scaling your business last. This means avoiding spending all your time and money on developing your product, building a website, creating logos, taking glamour shots, or other non-essential activities. Many entrepreneurs make this mistake and never generate any revenue. Instead, focus on generating sales and scaling up later.
#23
Online Business Forum / What is step-by-step guide to ...
Last post by Madona - May 12, 2023, 11:13 AMIf you haven't decided what kind of business to start, I'm going to assume that you want to create an online store selling only Kim Kardashian plush figurines. Now, let's go step-by-step to see what we need to do.
First, come up with a business idea. You decided on Kim Kardashian plush figurines because it is understandable, executable, and provides value to customers.
Choose a name for your business. While "K-Plush" sounds good, you want a more creative name. Ask friends, family, and others for suggestions. After brainstorming and waiting a few days, you decided on "K-Figs."
Protect yourself from legal issues by incorporating your business. Consider hiring a lawyer to help you with this step.
Design your product. Determine what your figurines will look like and what they will be wearing. Consider creating different figurines that appeal to different customer demographics.
Find a manufacturer. Research re-sellers that can create your product for you at a reasonable cost.
Assemble a team. You'll need a small team to help with day-to-day business activities, building the storefront, and sales.
Build your storefront. Create a website with clear calls to action, product descriptions, and an easy-to-use path to purchase.
Develop a marketing strategy. Create content that people want to read and share to build brand awareness.
Find distribution channels. Consider selling your product on other websites or in physical stores.
First, come up with a business idea. You decided on Kim Kardashian plush figurines because it is understandable, executable, and provides value to customers.
Choose a name for your business. While "K-Plush" sounds good, you want a more creative name. Ask friends, family, and others for suggestions. After brainstorming and waiting a few days, you decided on "K-Figs."
Protect yourself from legal issues by incorporating your business. Consider hiring a lawyer to help you with this step.
Design your product. Determine what your figurines will look like and what they will be wearing. Consider creating different figurines that appeal to different customer demographics.
Find a manufacturer. Research re-sellers that can create your product for you at a reasonable cost.
Assemble a team. You'll need a small team to help with day-to-day business activities, building the storefront, and sales.
Build your storefront. Create a website with clear calls to action, product descriptions, and an easy-to-use path to purchase.
Develop a marketing strategy. Create content that people want to read and share to build brand awareness.
Find distribution channels. Consider selling your product on other websites or in physical stores.
#24
Entrepreneurship & Business Books / The Science of Getting Rich by...
Last post by admin - Aug 30, 2021, 03:30 PMIf you like wasting time then i would recommend reading :
The Science of Getting Rich by Wallace D. Wattles
link:
https://www.amazon.com/Science-Getting-Rich-Wallace-Wattles/dp/1585426016
https://www.barnesandnoble.com/w/science-of-getting-rich-wallace-d-wattles/1100059709
This book is closer to astrology than it is to science.
I started getting skeptical when the author said that following the instructions are a guaranteed way to getting rich.
I was captured at the beginning when he stated that all this is done based on a scientific approach. But that did not last, as soon after, the book started to feel like it was written by a drunk man high on mushrooms.
Soon after, it felt like a religion or sect book, the author expects readers to follow with no kind of doubting his words. Even when his words are absolute nonsense.
There is no recipe for success or riches here ...
Here's another reviewer calling the book for what it is:
https://bioniclady.com/2012/09/24/the-science-of-getting-rich-exposed-its-nonsense/
The Science of Getting Rich by Wallace D. Wattles
link:
https://www.amazon.com/Science-Getting-Rich-Wallace-Wattles/dp/1585426016
https://www.barnesandnoble.com/w/science-of-getting-rich-wallace-d-wattles/1100059709
This book is closer to astrology than it is to science.
I started getting skeptical when the author said that following the instructions are a guaranteed way to getting rich.
I was captured at the beginning when he stated that all this is done based on a scientific approach. But that did not last, as soon after, the book started to feel like it was written by a drunk man high on mushrooms.
Soon after, it felt like a religion or sect book, the author expects readers to follow with no kind of doubting his words. Even when his words are absolute nonsense.
There is no recipe for success or riches here ...
Here's another reviewer calling the book for what it is:
https://bioniclady.com/2012/09/24/the-science-of-getting-rich-exposed-its-nonsense/
#25
Entrepreneurship & Business Movies, TV shows & Videos / The Big Short - 2015
Last post by admin - Aug 30, 2021, 03:27 PMbased on the 2010 book The Big Short: Inside the Doomsday Machine by Michael Lewis showing how the financial crisis of 2007-2008 was triggered by the United States housing bubble
Great movie
#26
Entrepreneurship & Business Movies, TV shows & Videos / The Wolf of Wall Street - 201...
Last post by admin - Aug 30, 2021, 03:26 PM based on the 2007 memoir of the same name by Jordan Belfort. It recounts Belfort's perspective on his career as a stockbroker in New York City and how his firm, Stratton Oakmont, engaged in rampant corruption and fraud on Wall Street, which ultimately led to his downfall.
Loved it - really recommended !
#27
Entrepreneurship & Business Forum / 10 Examples of Accidental Succ...
Last post by admin - Aug 30, 2021, 03:25 PMThis article recounts the story of confirmed accidental success stories. Stories that changed the world. Obviously there are thousands of accidental success stories, but this selection have a great importance for the human species!
Imagine a world without antibiotics, people will drop dead like in the middle ages!
Imagine a world without Coca-Cola, many will not be happy !
Xrays, Microwave and so on ... many are the result of accidental discovery!
Here's the 10 Examples of Accidental Success & Discoveries!
Article:
https://www.entrepreneurpost.com/2020/09/15/10-examples-of-unexpected-lucky-discoveries-accidental-success/
Simple Video:
soon
#28
Startups Forum / How Amazon is capable of killi...
Last post by admin - Aug 30, 2021, 03:20 PMinteresting video ...
#29
Entrepreneurship & Financial News and Articles / Peter Thiel : 7 conditions for...
Last post by admin - Aug 30, 2021, 03:18 PMIf you don't know who Peter Thiel is you can be pardoned, but i am sure you came across one of the projects he was involved in, willingly or unwillingly ...
Thiel : cofounded paypal & Palantir + was the first investor in Facebook.
Palantir is the company that knows what everyone is doing .... everywhere !
Thiel is also a big investor in hundreds of startups.
Here's the 7 conditions for startup Success according to thiel!
Article:
https://www.entrepreneurpost.com/2017/05/31/7-conditions-for-startup-success-by-peter-thiel/
Simple Video:
#30
Entrepreneurship & Financial News and Articles / Why Most Startups fail ! Formu...
Last post by admin - Aug 30, 2021, 03:18 PMMost startups fail, and there is a formula that explains this.
the formula goes through various factors, grading each and at the end coming with a concrete value that explains why most startups fail !
Article: https://www.entrepreneurpost.com/2014/06/24/the-mathematical-formula-for-why-startups-fail/
Simple video:
the formula goes through various factors, grading each and at the end coming with a concrete value that explains why most startups fail !
Article: https://www.entrepreneurpost.com/2014/06/24/the-mathematical-formula-for-why-startups-fail/
Simple video: