There was a time when the word ‘entrepreneur’ was still relatively new to most people. This was before the meteoric rise of reality shows like The Apprentice. It was before the global recession, which forced governments to dig deep and invest in ever more innovative ways to create jobs. The thought of actually being an entrepreneur didn’t really occur to most, as it seemed to come with far too much risk.
Now, things are very different. Many of the biggest economies on the planet are still feeling fragile after the financial crash and employment figures, while recovering, continue to be much lower than they were ten years ago. Suddenly, becoming an entrepreneur doesn’t carry much more risk than playing your hand on the employment market and thousands of new companies are registered every day in Hong Kong and other major cities.
Unfortunately, many of these ventures don’t make it. They don’t invest their capital in the right way and struggle to meet demand. They make no accommodations for growth and never learn to balance their profits and overheads. To be successful, a young company has to pace itself in just the right way. If it tries to do too much too soon, it risks spiralling costs. On the other hand, if it doesn’t embrace change, customers will lose interest.
It is a tough world, but there are some things that you can do to maximise your chances of success and grow your business in a positive, healthy fashion.
Work from a Great Location
If you are a 1-10 person business, a Servcorp serviced office is the perfect choice. These comfortable, secure facilities are ideal for smaller ventures because they provide everything in a comprehensive package. This includes lighting and heating costs, cleaning services, IT support, phone answering resources, and lots more. Keeping your employees happy should be a top priority and it is much easier if you can give them somewhere pleasant to work.
Pick an Office with Good Transport Links
For small teams with a dedicated core of skilled members, it is absolutely vital that access is easy. If you only have five employees, say, the likelihood is that you’re all going to be trained in multiple disciplines. You’ll be learning as you go and picking up new skills all the time. With the responsibilities spread so heavily, just one person running late on a regular basis will degrade productivity levels. Therefore, you need to pick an office close to major transport links.
Don’t Put Off Your Firing Strategy
It is much easier to go about business with the assumption that you don’t need a firing strategy. The truth is that it can be distressing to think about firing anybody, whether it’s as an abstract possibility or as a real decision. Yet, tough choices can make or break small businesses. So, think about the reasons why you would consider letting somebody go and how you would go about right from the start. These criteria can change, but it should be used as a little alarm for when things aren’t going to plan. Is there a reason? Are there inefficiencies within the team?
Always Have One Eye on the Future
The big problem with conventional working arrangements is that most office leases come with a mandatory 2-5 year contract. If there is no break clause, a business gets stuck in the same place as it grows and expands. Eventually, it outgrows the environment and the facilities, so the only decision is to pay a substantial fee to terminate the contract. With a serviced lease, this is not an issue. Fees are paid on a month by month basis and allow developing enterprises to renegotiate their terms as and when needed.
Trump Comments on Stock Market’s latest drop – says it’s ‘peanuts’
Trump says Tuesday’s market drop is ‘peanuts’
President Donald Trump played down the stock market’s losses on Tuesday as “peanuts” when compared with the importance of striking a good deal with China and the gains since his election.
The Dow Jones Industrial Average “was about 16,000 or 15,000 and now it’s almost at 30,000,” Trump said at the NATO summit in London. “It’s going to be at 30,000.”
“If the stock market goes up or down — I don’t watch the stock market. I watch jobs. Jobs are what I watch,” he added. Today’s move is “peanuts compared to — we have picked up record numbers so that’s OK. That’s the way I feel.”
The major stock indexes slid Tuesday after Trump said he thinks it would be a good idea to delay signing a trade deal with China after the 2020 presidential election. The Dow Jones Industrial Average fell more than 450 points at its lows on Tuesday, led lower by trade-vulnerable Apple, Caterpillar and 3M.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump told reporters before U.S. markets opened Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no. … In some ways, I think it is better to wait until after the election if you want to know the truth.”
Despite his assurances that he doesn’t watch the market’s daily moves, Trump often tweets within hours of when the U.S. equity market reaches an all-time high. He has tweeted the keyword “stock market” 107 times since his inauguration
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11 kids quotes we’re all feeling
Ok so there’s always that time when you just wish so bad you could straight up say whats on your mind, but you know you really shouldn’t, so you don’t. Well leave it up to kids to say exactly what you’re feeling, no hesitation or regret. Check out these kids quotes that say everything you wish you could!
Why do kids say the darndest things? Comment with your favorite!
How to become a better businessman in 6 steps; Priceless advice from Entrepreneurs
Become a better businessman in 6 steps following this priceless advice from accomplished entrepreneurs.
- “Do something you’re very passionate about, and don’t try to chase what is the hot passion of the day.”
Jeff Bezos accentuates having passion for what you are doing, because if you don’t love it you are much more likely to give up. It’s hard to take an idea and turn it into reality, especially by yourself or when people whom you respect tell you it can’t be done. The passion and love you give to your project will determine it’s success rate over time.
- “Don’t let people who you may respect and who you believe know what they are talking about tell you that it can’t be done.”
Pierre Omidyar continues to say that often they will tell you it can’t be done and that’s only because they don’t have the courage to try it.
- “If you know exactly who you want to be, you need to spend as much time [as possible] with people that are actually that already.”
This advice from Gary Vaynerchuk is actually priceless when it comes to success in the business world. Think as well “It’s not what you know but who you know,” and surround yourself with people you look up to. Human’s adapt to their surroundings quickly, and soon you won’t just want to be an entrepreneur, you will also know how to act like one.
- “Come up with 10 new ideas every day.”
Coming up with at least 10 new ideas every day will keep your “idea muscle” in shape, which is critical for an entrepreneur in order to keep going and stay ahead of the fast paced business world. James Altucher continues to say that once you’ve done this for about 6 months you will be an idea machine. New ideas keep passionate projects alive and ensure growth in every direction.
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- Realize that, “naturally, nobody is interested in your ideas. You have to persuade them, and you have to show them that you are the one person out there that can do it.”
Robert Greene, an American author known for his books on strategy, also says that “no one is really going to help you or give you direction.” Realizing this sooner than others will give you a head start and the ability to stop looking for recognition in others. Instead, you can focus on your passion project and make it perfect, and the world will not be able to ignore it.
More about ‘Mastery’ by Robert Greene
- “Don’t think about ‘how do I get big fast.’ That will happen if you build something meaningful and important.”
How to encourage teamwork in your organisation
Danae Ringelmann’s advice is not something to skip. If you rush your ideas or your product you will be relying on luck more than anything to create success for you. While luck is certainly involved in alot of things, relying on it or betting on it to ‘get big fast’ doesn’t help you become a better businessman. Being proud of what you create, instilling passion into your work, and working hard will ensure success more than anything.
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