Tag: entrepreneurs

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How would you describe your character type as an entrepreneur?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

A study some time back looked at the characteristics of an entrepreneur. What the researchers found was that entrepreneurs tend to be highly creative, daring decision-makers, visionary, usually the first-hand born child, imaginative and have a high need for achievement.

Yet the study also show the shadow or dark side of the entrepreneurial character including that they may be stubborn and resist change, typically not be the best manager, and although imaginative may be rigid. The researchers also noted that the entrepreneur may have had massive psychic upheavals as a child. Continue reading “How would you describe your character type as an entrepreneur?”

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No matter how bad things get in your business, you can always talk to someone for help

Film poster for Deep Water - Copyright 2006, I...
Film poster for Deep Water – Copyright 2006, IFC Films (Photo credit: Wikipedia)

If you’re over your head, ask someone for help.

Why is it that small business owners facing some crisis in their business or even insolvency do something dangerous to their health?

I remember a small publisher ran into financial difficulties and put a gun to his head… and pulled the trigger.

Mick Jaggers’girlfriend L’Wren Scott was found hanging in her New York apartment. It emerged that her fashion company was millions of pounds in debt.

Only a psychologist will probably be able to give an opinion on what really drove someone like her to take her life. Or can they? Sometimes these deep issues and their root causes even ellude top psychologists. Continue reading “No matter how bad things get in your business, you can always talk to someone for help”

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How good are you at opportunity spotting?

English: A photo of a cup of coffee. Esperanto...
(Photo credit: Wikipedia)

A middle-aged man was out of work. He’d been a slacker. Now he was out of income. His lifestyle was going down fast. One day he saw something that gave him idea.

The man’s idea was to run a gourmet coffee mobile stand outside a petrol service station in a local community. He made an arrangement with the petrol station manager and soon people who filled up their cars with petrol got used to also buying a cup of fresh, delicious coffee from the man. Continue reading “How good are you at opportunity spotting?”

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Are you satisfied with the first idea that “pops” into your head?

A common brand of vegetable peeler in China.
A common brand of vegetable peeler in China. (Photo credit: Wikipedia)

As soon as people reach the right answer, they stop thinking. But this is not a good approach for the entrepreneurial minded person who wants to come up with a new product or service.

Business people are praised for being dynamic and decisive. In typical operational decision-making, the quick decision gets results. Not so with strategic decision-making where the first plan that comes into your head may not have been thought through optimally. Continue reading “Are you satisfied with the first idea that “pops” into your head?”

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Who else wants to learn the hidden secrets of quickly turning any business idea or concept into a R10,000 a month automatic profit generator?

Sungai Tua Fall waterfall feng shui activate f...

The problem with a lot of would-be entrepreneurs who believe they have a brilliant idea for a product or service is that they want to do it on their own. Yet in today’s highly competitive product and service markets competitive positioning, knowing how to develop a product or service that creates value for prospective customers and knowing how to commercialise a product or service including marketing and selling as well as distribution can’t be learnt overnight or at a drop of a hat.

A pioneer Internet marketer recently surveyed his customers and email followers to find out what range of income they were returning from their online businesses. The results were surprising. Only a small percentage were making any money online and even fewer were realising an income that could make them self-supporting. The majority of his followers had started businesses but unfortunately had made no income. Their businesses, if you could call them that, were actually no more than a hobby. Continue reading “Who else wants to learn the hidden secrets of quickly turning any business idea or concept into a R10,000 a month automatic profit generator?”

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Are you a victim of a crisis of the imagination?

Imagination!
Imagination! (Photo credit: Stephh922)

I was at a small event the other evening where the conversation was about the environment, economics and imagining futures better than the one at present.

One of the speakers mentioned that the reason why it is difficult to envision or create new futures is because of a crisis of imagination.

The problem is that we are stuck in traditional thinking ruts, we respond to change in predictable ways and we have not learned to re-imagine ourselves and the world around us. Continue reading “Are you a victim of a crisis of the imagination?”

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If your idea flops, what do you do?

Samsung to Unveil Premium New Products at IFA 2013
New products face tough competition. (Photo credit: samsungtomorrow)

A young man decided that he would be an entrepreneur, came up with an idea for a retail product but never listened to an expert in the retail business who warned him that his initial concept was impractical, too costly to produce and would make no profit.

Being a clever would-be entrepreneur who knew best he went ahead spending thousands to develop his concept with a product design company, consulted an expensive patent lawyer, filed a patent with the intellectual property office, and talked with costly plastics manufacturers to make his product.

Continue reading “If your idea flops, what do you do?”

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An overlooked characteristic of successful start-up innovators

Vision | ArtPrize 2010
Vision | ArtPrize 2010 (Photo credit: Fellowship of the Rich)

When we admire successful small businesses we often think about the innovation or new idea that led to the business being started. But what really lies behind the success?

Consider how well some small businesses are doing that began with basic ideas. There is Midas, the car accessories and spare parts business with branches now all over South Africa. Cash Converters, founded in Australia 34 years ago, has 62 outlets in South Africa and plans to open more. The Sandwich Baron has tasted success in the country begun on an idea that almost anyone could have come up with.

Continue reading “An overlooked characteristic of successful start-up innovators”

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Do these theme songs inspire you to create or make you want to vomit?

Soundtrack to your imagination
Soundtrack to your imagination (Photo credit: nerosunero)

The other day I downloaded three of my top film soundtracks from the Internet:

Start Wars Main Theme
Chariots of Fire
Rocky Balboa Theme

These were some of the form soundtracks that I’d listened to on my yellow plastic Walkman when I used to go running in the mornings.

The songs would help mask the pain on those long uphill stretches. Inspiration for when the running became tough. Continue reading “Do these theme songs inspire you to create or make you want to vomit?”

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How much do you know about the market for your product or service?

The Secret Garden
The Secret Garden (Photo credit: @Doug88888)

I love peanut butter. But I have to be very careful eating the stuff because it is so fattening. I really can only eat it about once every two weeks or so. If I eat more, I’m going to balloon.

The peanut butter market has not grown to its estimated potential size if you look back at the forecasts and expectations twenty years ago. Walk into any supermarket and you’ll see that the shelf space occupied by peanut butter has shrunk. Continue reading “How much do you know about the market for your product or service?”