Myths About Entrepreneurs or User Acquisition?
Many people have a lot of myths about User Acquisition in South Africa what being an entrepreneur is and how it will shape/affect their life that are simply not true. These are the seven biggest myths that I continuously hear.
1. Being an Entrepreneur is too risky for me.
Starting your own business in these days is not too much more risky than trying for any other corporate job. At a corporate job you can be laid off at any time, have benefits cut with no reason, and work long overtime without being compensated for that. If you are student as well, the risk can’t be that bad. It’s not like you have a mortgage or family to support if it fails.
2. I am too young to start my own company
Being young is not a negative, in fact in most cases it’s a positive! When your young you have the passion energy and enthusiasm that is needed to work 14 hour days day in and day out for a company you believe in. Most older people with more experience just don’t want to do that any more.
3. I have no experience
Again, this can work towards your advantage. Your lack of experience means that you are looking at everything with a fresh set of eyes. You wont get stuck in the “we have always done it that way” kind of thinking that can stop other entrepreneurs. Running your own company will also build much more valuable experiences than a job flipping burgers will at your age.
4. It is not the right time for me to launch a business.
As a student you have a schedule that is completely flexible and large blocks of time between classes and on breaks to start a business. Campuses have tons of resources you can harness as well, User Acquisition in South Africa so there really has never been a better time than now.
5. If I am running a business my grades will fall.
Running a business takes organization and discipline. If you are organized and disciplined in one area of your life it will probably pass over to the other areas of your life as well. Many student entrepreneurs I know actually report their grades increasing once they started a business.
6. Student businesses are just small rinky-dink operations
Some student business that started as just rinky-dink operations were Dell, Google, and Microsoft. You have probably heard of those companies right? That is because they were great ideas and hard work created products that had potential to expand from their small beginnings. Your business can too!
7. I don’t have any money! I can’t start a company
Everyone seems to think only millionaires start companies. This is simply not true. Most companies are started with the founders savings and no investment capital. Start with what you can and work hard. Things will come together if you want them to come together. You will be amazed at what you can do!
Interesting Facts About User Acquisition in Gauteng:
About User Acquisition in Gauteng:
Financial advisors often find themselves consulting to successful entrepreneurs about how to continue to grow their assets after the business has been sold or taken over through a carefully planned succession strategy. But developing a small business (defined here as having less than $50 million in annual revenues) is not so simple.
After the initial burst of business success and survival in the first three years, many small businesses encounter struggles that can leave them feeling isolated. What can assist a 30-year old consulting firm whose personal presence and paper products face a changing world of electronic presence and high travel costs by helping them with development of electronic products? What can encourage a small playground equipment manufacturer to move from $1 million to $2 then $5 million in annual revenues by helping her with facility expansion issues? What can help a successful cookie baker beat the competition through strategic partners, cause marketing and high tech kitchen equipment?
Small Business Development Centers can.
According to the Small Business Administration these SBDC's gave face-to-face help to more than 247,000 clients last year. A treasury of business answers lies waiting and ready to assist at 1,100 top colleges and universities across the United States, according to the SBA. These centers are funded by a combination of federal, state and local government monies as well as with private sector dollars.
Here are just few examples from the State of Wisconsin. The University of Wisconsin at Whitewater hosts a Small Business Development Center at www.uwwsbdc.com [http://www.uwwsbdc.com/] Its email is firstname.lastname@example.org This center is also affiliated with the Wisconsin Innovation Service Center, that "takes pride in an extremely high rate of client satisfaction...nearly 75% of clients have been referred by former clients and professionals. The Wisconsin Innovation Service Center charges an "affordable fee" to provide companies with enough information for improved product and market development decisions.
A few diverse examples of this university-related treasury of successes include these:
- A local gardener gained international attention for a unique gardening tool.
- An innovative drywall finishing product offers significant benefits over competition.
- A new product helps a honey producer grow.
- A business in the electrical equipment industry finds new customer segments.
- Investors and inventors find value in a flooring company start-up.
- An environmental product company breaks past the $15 million mark with a new product.
- An ornithology hobby becomes a successful business venture.
- An outdoor equipment manufacturer finds a potential acquisition.
- Customer purchase decisions and perceptions are revealed to a manufacturer.
- An automotive aftermarket tool gains distribution outlets across the U.S.
- A "hot" tool is offered to the propane and plumbing industries.
Part of the success of these entrepreneurs and a couple of hundred thousand others is due to the one-on-one relationship of these advisors with their entrepreneurial clients. Developing business plans, wading through loan applications, securing critical market research, exploring product design options, identifying a lasting competitive edge---these are typical of the services that SBDC's can provide to the entrepreneur.
These services are nothing to be sneezed at. In another state, South Carolina, the economic impact on the state's economy in 2005 alone was $86 million, resulting in a return on investment of $121.11 for every dollar of state funding, according to Regional Director Jill Burroughs as quoted in the Greenville News. Further explaining the power of the program, Burroughs said that breaks down to $45.7 million in capital formation, 1038 jobs created, nearly $25 million in wages paid, $869,000 in additional sales taxes and $15 million in contracts awarded to 381 businesses.
SBDC's are located in all 50 states, the District of Columbia, Guam, Puerto Rico, Samoa and the US Virgin Islands. If you conservatively cut the impact of South Carolina in half and multiplied by the 50 states, you would have a $2.1 BILLION impact.
This is a powerful treasury of real riches that spills over to the rest of the economy from the struggles of entrepreneurs who refused to let their dreams be defeated by the obstacles they encountered. They got help.
User Acquisition in Gauteng
I believe the spiritual aspect of life, especially to entrepreneurs, is very important. While business may be the focal point for an entrepreneur's life, it's your outlook on life that shapes what kind of person you are.
Having a strong sense of self can benefit your business in many ways. The down periods and business 'tragedies' are not so bad for the entrepreneur that is spiritually centred. Don't take life too seriously is a phrase that every entrepreneur should take to heart and remember during the ups and downs of business.
I just finished reading a blog post from an entrepreneur friend of mine about meditation. My friend is meditating, and he's doing it a lot, which I find quite admirable. If he isn't careful he might give up business all together and follow the path of the monk searching for enlightenment, which may not be such a bad thing and perhaps even more rewarding than business ever could be.
I've attempted meditation for many reasons but more often as a method to deal with tough times in my life. I realise the need for meditation and spirituality during all times of life but as I'm sure many of you can identify with me when I say I don't look for help when times are great, I'm too busy revelling in the excitement.
As an entrepreneur I consider myself quite a creative person. I'm not gifted in art or music but certainly as a writer and business creator/manager I feel that I am definitely more bohemian than most. I think most entrepreneurs feel the same because we are not following the same path a lot of other people take when they work a normal job. Often the thought of a 'job' is not appealing and the prospect of working 9-5 for a salary is daunting. We take a risk by being different and expose ourselves to the often adverse opinions of those that believe we are making a mistake by not seeking a standard career. It takes a person of strong character and personal convictions to stand up to what can be a barrage of negative feedback from your peers and family.
I'm also more sensitive to my environment and the people around me. I live a controlled life and make sure that I eat well, sleep plenty and by choice I don't drink any alcohol. I have nothing against drinking (in moderation), it's just a choice I've made. I don't party hard on weekends, again by choice because I prefer to get a good nights sleep so I feel good during the day. Because of this I don't get sick too often (touch wood) and I feel at the top of my game everyday. I'm not saying do what I do, it's possible to party and drink and have a good time and be a very successful entrepreneur, just remember moderation and balance and your health should always be your primary concern.
A spiritually fulfilling life can be very rewarding. It provides a strong personal framework that offers stability during tough times and allows you to keep perspective when business is booming. It's not easy to be disciplined but as usual, for those that put the effort in the rewards are there.
Entrepreneurial Failure - Get Used To It
One of the greatest time wasters of all are unnecessary or poorly run meetings. If you want to dramatically improve your time management skills, then learn how to have productive meetings.
"Brian" is the Operations Manager in a large corporation. Every Monday morning, his CEO has a managers' meeting .
This is what usually occurs:
The agenda is circulated the day before which means the managers have little time to prepare.
The meeting always starts late as the CEO will wait for latecomers. In fact, he's often late.
A couple of the managers tend to "waffle on". The CEO who chairs the meeting is not assertive enough to keep them on track.. He's also a 'waffler'.
Most of the managers sit there, bored out of their brains for a majority of the time. They also get stressed as they feel they are wasting time listening to the "wafflers".
As the CEO does not schedule a regular "catch up" time with each individual manager, many unnecessary issues are also discussed.
If this describes some of the meetings you convene then how about taking action and ensure from now on that they are highly productive.
If you're like "Brian" and you would have difficulty suggesting to others how they could improve their meetings, then I suggest you pass this newsletter on to them. Effective time management also includes effective meeting management.
"You'll do so much you'll be surprised when you get your meetings organised"
9 Ways to Improve Your Time Management by Having Super Productive Meetings
Ask yourself, is this meeting really necessary?
Do you need a face-face meeting? A phone call, email or conference call might be a better solution.
Invite as few people as possible
Only have the necessary participants attend.
Have a written agenda with clear objectives
Ensure it is circulated well in advance to those attending. Indicate timeframes allowed to discuss each item.
Double check the meeting venue has been organised the day before
If refreshments are supplied include water and fruit. Ensure the meeting area is quiet with no distractions.
Start and finish on time
Respect your time and everyone else's.
Have an effective chairperson
Unsure who to choose? At the beginning of the meeting count up to three. At three, each participant points to the person they believe will keep the meeting on track.. The person with the most votes is elected.
Circulate the minutes within 48 hours
Ensure all actions have the appropriate person written next to them.
Stand up and stretch every 30 minutes
It's good for your mind and body.
Ensure all mobile phones and pagers are turned off
It's amazing - people have been known to survive without their phones and live to tell the tale.
Good time management is also about using your time wisely when attending meetings. If you can enforce these guidelines, you'll be happy to attend future meetings knowing that your time isn't being wasted.
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