The 10 ‘Silliest Bits of Advice’ to Ignore when Buying or Running a Business

The 10 ‘Silliest Bits of Advice’ to Ignore when Buying or Running a Business[EXTRACT]
As soon as you talk to friends and associates about going into business there will be no shortage of tips, advice and guidance offered to you. It’s important to talk with others who have are experienced in business, especially those who have been successful. Think twice about taking advice from anyone in business without a successful track record. This includes advisers whose advice contradicts that given by highly successful business owners.The following are 10 bits of advice which are straight out silly and stupid. If you are ever contemplating buying or running a business make sure you ignore these so called “pearls of wisdom” when they are “thrown” at you.

“You will make a fortune – go for it.”

People who tell you that you will make a fortune and encourage you to get right into business without taking the time to talk with you and assess what your business is all about are simply fools. If they are not in a successful business themselves, then they are not only fools, but also idiots. Steer well clear from this advice. Make sure all your decisions are based on sound research and facts. If necessary get a second and third opinion. You can never get too much advice from those people who know what they are doing.

“All you need to do is think success.”

You can think success all you like, but you’ll get nowhere unless you “get off your bike”, sit down with your advisers and put your business ideas into action. Success has nothing to do with luck, or with visualization or any other “airy fairy” notion. Success comes through hard work, sound planning, adequate finance, motivation, family support, detailed research, knowledge of the market, seeing how your competitors are doing, setting achievable goals, balancing work with time out and using good old common sense.

“You’ll be able to enjoy your life now, working whatever hours you want.”

Don’t fall into this trap. You may find that when you start working for yourself you will have to put in more hours than when you were working for a boss. There is no such thing as closing time at 5 o’clock if you are self-employed. There are obviously more opportunities to restructure your hours to suit your lifestyle and your family, but never forget that if you don’t put the hours in, you will not produce sufficient income to make your business successful. You’ll need to discipline your time so your business hours are used only for business and then work in a balance so you have time out for relaxation and even a cup of coffee when you feel like it.

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“If you have a strong enough dream – you’ll make it.”

Once again, you can dream all you like, but nothing’s going to happen unless you get out there and do it. Your dreams should be your motivation. While there is some truth to the saying – “visualise success in order to be successful” – this only applies to the fact that unless you can visualise success, then there is nothing to strive for. Anyone can dream, because dreams are easy and dreams are free. Converting those dreams to success and profit needs something else. That something is planning, effort and commitment. Don’t simply be a dreamer. Be a doer.

“There’s no reason why you can’t be as successful as so-and-so.”

This is not entirely a myth, because there is no reason why you can’t achieve some success. You have the same amount of brain matter as anyone else. You may even be smarter or more creative than others – but this can also work the other way. Other people may have qualities such as entrepreneurial drive or plenty of family money to help them in their business. Use the success of others as motivation, but never get the idea that being successful is going to be easy because so-and-so has done it. Your success or otherwise will depend entirely on you.

“Don’t do it – too many people fail in business.”

Statistics show that over 70% of businesses close up or fail within the first 3 to 5 years. These are disastrous statistics. They’re enough to put anyone off planning any type of self-employment. Someone once told this story: “Maestro, said the surgeon to the famous musician, I played for you at a master class. You advised me to stop playing professionally. You said I would never be great. I want to thank you because I listened to your advice and became a doctor. The maestro peered at the surgeon and said, ‘I don’t remember you – because I tell all my students that. The great ones ignore my advice and continue anyway’.” Don’t allow the “you’ll probably fail” advice to put you off. Follow what may have been in your heart for a long time. Sit down and talk with others and then assess whether you should continue after weighing up all the facts obtained from your research.

“You should be okay, but you need to build up your confidence.”

You may be lacking in confidence, but confidence is only a part of what you need to be truly successful in business. Your confidence will grow as you achieve some of the goals you set yourself. Confidence comes from experience and experience comes from mistakes. Mistakes come from just doing it. There’s nothing wrong with making a few mistakes along the way, but if you hold back because someone said you don’t have the confidence, then you will do yourself a disservice. If you lack confidence, do some business courses, carry out research on your type of business, talk to other business owners in your industry, discuss it with an experienced and positive business adviser, etc. Confidence miraculously comes when you put that first foot forward. Just do it.

“You can always return to what you were doing before.”

Never allow yourself an easy way out – because at the first sign of trouble, you’ll take it. In any event, if you leave your well-paid job to go into business and then find you are not successful, it may not be that easy to return to your former trade or occupation. There is no doubt that you could do it, but you would lose a lot of ground by leaving a secure job and then returning back to start from the ground floor up again. Also, the fact that your business failed would not look too good on your resume. Remember – while it seems an easy move, in reality it may not be. Think winning not retreating. Take no prisoners.

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“Don’t worry, be happy.”

If contemplating going into business, then this little saying is probably the silliest bit advice of all. Business is not a game. You will have hard times as well as good times. You will have problems – from staff, or being sued by another company. You can always count on a disaster or two, such as goods going astray or your premises being burgled. So prepare for it. Try also to keep in mind this one thing – stay out of court at all costs. Try and settle your differences together rather than going to law because it will cost “heaps” in money, time and heartache. Depending on the seriousness of the action, it will cost you in extra years added to your life from the stress of it all. Business generally brings with it worries – at times. However, to offset this – being in business can also bring happiness and satisfaction. If you study how to run a business, listen to advisers and work hard to follow the basic principles for success, then your chances of being happy, wealthy and fulfilled are pretty high.

“You can quit anytime anyway”

If you buy a business with that thought in your heart, you will most likely not stay the distance. At the first sign of stress or difficulty you’ll give it away. Don’t quit. Nothing beats perseverance. The tiny drip of water hitting the iron bar – day after day, hour after hour, minute after minute, second after second – will eventually corrode and smash it. Nothing can stand in your way if you are determined to win. No one can stop you succeeding except you. If you don’t quit you’ll make it! That’s the catch cry used by the multi billion dollar AMWAY industry’s sales millionaires.

Never ever quit. Never surrender – ever.

Golf and Business Equals Success

Golf and Business Equals Success[EXTRACT]
Social schmoozing has long been recognised as an effective method of building business relationships and wooing new clients. Martini lunches and cigars were the tools used a generation ago. These days golf is considered the most important schmoozing skill, so much so that many executives attain their positions based on golf prowess alone. In fact, not playing golf can have a negative impact on business careers. Many non-golfers are finding that they hit professional stagnation due to golfing colleagues being promoted above them.Women, determined to break into the old-boys’ business network, are also taking advantage of 18-hole business practices. More and more women are signing up for classes and joining clubs to try and redress the male dominated networking imbalances of the past. Specialists in the golf and business market advise women to go as far as advertising their interest in the sport by hanging golf pictures in their offices. Bringing a putter and some golf balls to work is also an acknowledged signal of golfing interest.

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Bill Storer, an expert on mixing golf and business, recommends that in order to increase your chances of success, you classify clients in one of four personality categories:· Realtors – team players who value relationships· Socialisers – emotional people who love an audience· Thinkers – organised and detailed· Directors – decisive, goal orientated, and stylishOnce you’ve identified your client’s personality type, you can adapt your tactics to suit them.A key factor in the golf schmooze is to learn proper golf etiquette. Don’t talk when someone is about to hit a shot, don’t step in the line of a putt, and always treat the course with respect. This means that you replace divots and rake bunkers when you’re out of them. Your behaviour after a bad shot, or several bad shots, is also vital. Losing your temper and throwing your clubs around doesn’t leave your client with a particularly favourable view of your character. Disregarding these protocols creates the impression of arrogance and inconsideration. At best, the client will lose all respect for you. At the worst, you could cost your company a prized contract.It’s considered poor form to leap straight into business talk and try work down to the nitty gritty of a deal. Some clients don’t mind talking business on the course, while others prefer to keep it strictly social. Bill recommends waiting until the fifth hole to talk shop, and refraining from further talk after the fifteenth. This gives you and your client enough time to settle into your games and to concentrate on your closing approach. It’s important to remember that the purpose is to improve your relationship with the client. To achieve this you should make every effort to get to know your client better on a personal level. Finalising business is a secondary concern.Finally, the big question: do you play to win, or play to let your client win? That could depend on your client’s temperament, and on how important winning at all costs is to his or her. Generally you should aim to play your best game. If it’s obvious that you’re losing on purpose, you risk embarrassing and insulting your client. There is, however, no sense in embarrassing them the other way with a sound drubbing either.

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Golf schmoozing looks to be business-networking strategy, with successful outcomes virtually guaranteed. It’s a tool open to exploitation by both women and men, which helps to level the promotion playing field. While it’s considered bad form to play the sycophant and lose on purpose, it’s perhaps wise to remember the old saying, “Show me a good loser, and I’ll show you someone who’s playing with his boss.”Recommended sites:http://www.businessweek.com/magazine/content/02_46/b3808623.htm[http://www.businessgolfstrategies.com/HTML/reprint.htm][http://jscms.jrn.columbia.edu/cns/2005-11-01/torney-golf]

Business Management Coaching Tip – Beliefs Doom Business Success

Business Management Coaching Tip – Beliefs Doom Business Success[EXTRACT]
With all the talk about a shrinking economy, a recession looming on the horizon, oil over $100 a barrel, a lot of business owners and those involved in management appear to be believing this talk. Accepting all of this negative business talk will eventually doom them.A wise man once said: No one can defeat us unless we first defeat ourselves. This individual understood through his own extensive experience that defeat starts within you, your thoughts and ultimately your beliefs.What happens when you believe something whether it is the talk of so called experts to the accepted traditional knowledge, you start aligning your actions to those beliefs. In business, you probably make less sales calls because why bother since business is bad for everyone. Business Management Coaching Tip: The major news networks predicted 40 of the last 3 actual recessions.

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Would Thomas Edison have continued his numerous experiments if he believed what everyone else believed? No! His response was “I learned 5,000 (or 10,000 depending upon whom you read) ways not to invent a light bulb.”Your daily behaviors demonstrate that you have less enthusiasm about selling, about conducting the purpose of business. People who meet you sense this about you and truly do not want to spend any time with you. Business Management Coaching Tip: Think Law of AttractionA cascade affect begins to kick in. This affect has been identified as the self-fulfilling prophecy. You now believe the record playing in your brain. Your thoughts drive your attitudes that direct your actions. Now, failure breeds failure as much as success breeds success.

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You are the architect of your success be it business or personal. Defeat comes to those who believe in defeat. And this wise man who uttered these words, understood the possibility of defeat probably better than anyone else in the 20th century. He was President and General Dwight D. Eisenhower who was responsible for the invasion of Normandy during WWII also know as “D” Day.

Visualizing Starting New Businesses – Research Your Business Ideas and Put Them Into Action

Visualizing Starting New Businesses – Research Your Business Ideas and Put Them Into Action[EXTRACT]
Starting a business is no small venture and if you choose the wrong type of business, you may find yourself in a financial crisis trying to get rid of it, or you may go on for years running a business that you do not enjoy. Think of a business as a marriage, for your business is your partner. You would not marry the first person that comes along, nor do you want to jump into a business without getting to know it first.ResearchingAs you narrow down types of businesses, research and interview those businesses like you were going to marry them. Sounds weird, but it is true. Talk to people who run these types of businesses, talk to the people that work there, visit businesses in the same competitive niche. Beware that some business owners may not want to talk to you, because they will be fearful that you are a competitor. Knowing this, it is more effective to talk to people from different locations from where you will be conducting your business. Use the internet to study different business websites, join a business networking forum, and contact your local government business resource agencies.

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ActionBeing successful in business involves certain practices that you need to implement both personally and professionally.
Know your strengths and the strengths of others involved in your business
Lead by example
Have a plan, revisit that plan and revise as needed
Know what is happening in your marketplace and be proactive

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Watch your cash flow and stick to a budget
Put your plans into action, be a ‘Go To Can Do’ type of person
Do not let the negative attitudes of others hold you back
Write down your goals, and your vision for yourself and your company. Read it often.
Take time to rest and keep balance in your lifeCongratulations for researching your business ideas and I wish you all the best in starting a business. You have probably heard the saying, “If it was easy, everyone would be doing it.” My advice to you is… keep doing it!

What To Look For In A Home Business

What To Look For In A Home Business[EXTRACT]
Time and time again, when people search for a home business, they get caught up in the glamour of it all. You can find many that will show you pictures of beautiful vacations and fancy cars, but when it’s time to join and you start building your own, it may be hard to find the help you need. This is where I come in because I enjoy helping others to enjoy the same feelings I felt as my own business became bigger.When you are in a home business, you should have a feeling of confidence that when you go out and talk about it, people feel your passion rather than just going out and posting links, hoping people become involved without talking to them. If you don’t have passion behind your product, you don’t have much of anything different than anyone else does.

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The successful home business owners know how much they can afford going in. Do I think you should at times take a chance if you believe in something? Most definitely. Although I don’t feel you should spend $300 on a new business if it’s going to hurt your financial situation. However, a good limit to suggest is about $50 if you’re in that situation. Enough to where you can make that money back in a short amount of time. Some are not stable enough to do that either, which is understandable. Then I ask; how bad do you want to change your life? Borrowing it from a friend or other family member would be the next step.So you’ve found a business you feel passionate that you can make a substantial amount of money and the budget has been set, now what? Do the research. For instance, when you’re in your back office, read up on everything. The how-to steps, the company, the product or service, everything you can get your hands on. The more knowledge you have about the company and what they have to offer, the more confident you’ll feel talking to others.Research how the company pays as well. There is nothing worse then not understanding how the pay system works and when you think you’ve been doing well but it’s just not happening. Even if it takes going out on the Internet and researching what the difference is between Binary, Matrix, Affiliate, and others, knowing how the system works will help you plan how you are going to build your downline or sell your product.

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Overall, just research the company you are going to do business about the same things you would normally do if you were offline. See how long they’ve been in business, talk to others who are already involved with them. See how they are doing and if there are particular issues or positive aspects about them. I can’t stress this enough.People get so excited about making money online and just start Internet marketing that they forget to even do a background check on their new home business. Then a month or two down the road, those same people are yelling scam because they lost money. If you do the research first, the percentage of people that lose money on the business because of the company goes down dramatically.