Studies have shown that successful entrepreneurs possess these characteristics:

1. Self-confidence

This is that magical power of having confidence in oneself and in one’s powers and abilities.

2. Achievement Oriented

Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Risk Taker

They realize that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals.
(more…)

This week during a coaching session, one of my clients shared her ongoing struggle with managing “breaks” throughout the day. Whenever she felt the need to get up from her desk and stretch her legs, she found herself in the kitchen.

As a result of this habit, she is now 20 pounds heavier, very uncomfortable and extremely unhappy with herself.

Unfortunately this phenomenon is all too common among entrepreneurs who transition from the outside work world to working from home.

Home business presents challenges not normally experienced while working in the corporate or “outside” world and managing breaks is a big one.

When you work outside of the home, a break might be spent by a water cooler, in a lunchroom, or outside on a bench chatting with a co-worker. When you do spend your break in the company lunchroom, you seldom find a fully stocked fridge and cupboards chock full of food at your disposal.

When you work from home, your break locations aren’t quite as extensive and because it’s very unlikely you would spend this time sitting in a bedroom or talking to yourself in the bathroom mirror, the kitchen is the most logical destination.

How you spend your breaks at home requires a little creativity and A LOT of discipline. By giving yourself options, setting limits, and creating healthy habits, it won’t take long for you to re-direct yourself when you find yourself drifting towards the kitchen.
(more…)

Grabbing opportunities with open arms is often easier to talk about than to actually do. Most people find themselves dreaming about being rich but never actually doing anything about it. A combination of procrastination and ‘what if’ syndrome can cripple your creative spirit and might mean your idea will never become a reality.

Socrates said “Action equals knowledge’. He was one of the greatest philosophers of our time. What he meant was that it is through action that we achieve results.

For example, you could think about learning Spanish for months, imagining the holidays you will take and the people you will communicate with. You can dream forever but accomplish nothing unless you actually make the effort to start taking lessons.
Much like the martial arts approach – the idea is to take action immediately and avoid over analyzing the situation.

Do you want to start your own business but are afraid of what kinds of things can go wrong? What if your initial investment doesn’t pay off? There are millions of things that could go wrong but likewise there are many things that can go right! Fear can be paralyzing. When thinking about starting a business particularly if you keep waiting for the right time. There will never be a perfect time. It’s now or never when it comes to starting your own business.
(more…)

One problem that many small business owners run into is simply thinking too small. I often have readers writing to me asking for helping getting their business ideas off the ground. I also often hear from folks who have run their small businesses into the ground. There are five key areas where you can think too small — and doom your business to failure.

Niche Too Small

Is your niche too small? Finding a small market to target with your business is key to success, but sometimes people narrow their niche too much. While doggy dental products could be a wonderful niche (as almost any dog owner can attest) you could even narrow your focus down to a certain type of dog (such as lap dogs) but going for one specific breed would be taking it too far.

Target Market Too Small

Is your target market too small? If you are looking only at one community or small geographic region then you may well doom your product to failure. It is far too easy to saturate a small market and it is far too easy for any marketing mistakes to end your campaign before it gets off the ground. In today’s economy with the availability of global marketing you need to think big when you are planning your target market.

Budget Too Small

Is your budget too small? You don’t need a million dollar advertising budget but you should have some seed money to get your business and its marketing campaign off the ground. It is possible to build a business from nothing but it is also a lot more difficult and you might find yourself making some mistakes that cost you a lot more down the road than putting a little money up front.
(more…)