Category Archives: Notes

First-Time Incentives

When your prospects like your product or service already, there’s a moment of indecisiveness that could defer their decision to buy. In order to clinch the sale, it would be timely at ths point to offer an incentive. An example would be a percentage discount if they bought that same day, or receiving consultation for free. The thing to keep in mind is for your prospect to avail of your product right there and then, instead of delaying the buying process. You don’t want them to miss out on enjoying the benefits of your product or service for another day. Make a decision… to help them make a decision.

Mission Statements

When writing a business plan, the mission statement is one of the important components of it. But some plans confuse who it’s for. When it comes to mission statements, the employees should be its primary audience. The mission statement is written for internal discussion and communication. It’s for them, more than for customers. Thus, accuracy should be aimed for.

Breaking Out

Hundreds of thousands of people start on their entrepreneurial journey with nothing more than a dream. What is their motivation? What is their fire? Are they willing to risk everything – their house, their credit, their personal possessions – in the pursuit of a dream of success? Many experts agree that it is usually a series of frustrations that lead to entrepreneurship. Entrepreneurs can’t stand taking orders from someone else, making them rich with their work-hours. It is also a fact that opportunities can come from an inadequacy in the market. Perhaps the entrepreneur saw a business in his or her area not providing adequate service, or that customers start calling them, or perhaps the entrepreneur doesn’t feel that his or her potential is being used to its best. Whatever the reason, entrepreneurs set out on a path that could broaden their horizon and enhance their potential. Risk is part of it, but it’s a wonderful if uncertain walk. That is the first step.

Begin at Dawn

The dawn is a beautiful event. While a few minutes before, the world was dark, now suddenly, rays of light emerge as the sun ‘rises’ over the horizon. Wait a few more minutes and it bathes the world in pure photonic wonder. And everything is revealed as the dawn comes, the beginning of the day. Many people start off in fear and worry if they have what it takes to be an entrepreneur – even before they ever get started. There are certain unknowns in starting a business. Will it work? Will it profit or tank? But if you have the desire and initiative, the details will emerge later as you navigate through the wonderful world of business-making. The first step is to take the plunge. When you decide to start, it is your dawn as an entrepeneur. How the day turns out is if you face it with enthusiasm and perseverance.

Change and Business Decision-Making

Sometimes entrepreneurs who have made one successful decision after the other let it get into their head. After a time, going in the same direction, they face a tsunami brought about by a changing market. Because they can’t change, and they keep doing the same things that have waded their businesses in the past, their businesses usually end in failure or bankruptcy. Entrepreneurs must listen to their customers, build what’s best for their company and their team. One way to avoid being overwhlmed by changing market situations is to broaden the feedback loop. Getting other advisers that give inputs to your decisions are one step. You could also gather your team and let loose an open meeting where everyone can ask the hard questions and suggest possible solutions. It’s through such mechanisms that businesses can avoid tanking over the next tide.

Get Out of the Building

A great insight of business is that facts are outside your building. You may be the smartest engineer or marketer, but to test your hypotheses, there is no better way than getting in touch with your customers. Make those calls or go to your customers.

Learn from Failures

Since start-ups begin as a leap of faith, there’s bound to be failure at the first steps. And not just one, but it goes from failure to failure on its quest for a scalable and repeatable business model. Many companies make the mistake of firing one sales executive to another, hoping that the next one will come up with a better strategy to entice customers and start raking in the money. But what if, instead of that, company leaders dump the plan, or pivot or reiterate a few of its components to fine-tune towards a working business model? Was it just a failure in marketing? Product fit with customers or the market? The crucial thing is that people in a start-up phase learn from these failures to improve the company’s march forward.

Start Up Fast

Start-up entrepreneurship is an enthusiastic faith that you have of building something profitable. And your responsibility as an entrepreneur is to turn that faith and passion into fact as quickly as you can.

The 2-Minute Rule to Stopping Procrastinating

Wikipedia defines procrastination as “the practice of carrying out less urgent tasks in preference to more urgent ones, or doing more pleasurable things in place of less pleasurable ones, and thus putting off impending tasks to a later time.”

 

When you’re online, it’s easy to get distracted by the myriad of websites on your tabs, so that you get on one hand to reading the latest news, entertainment gossip, or the newsfeed on your Facebook wall.

Then you realize that you’d forgotten to do the things you really have to do. Your time has been wasted, even though the most crucial tasks needed to get done are not difficult to do.

 

Well, there is a way to bust procrastination. It is the 2-minute rule and it has 2 parts:

 

1) If it takes less than two minutes to do, then do it now.

 

As in NOW. It’s easy to jump from website to website, but just closing your tabs and getting what you need to get done leads to a surprising re-alignment of your priorities and getting things done. DO IT NOW. Two minutes, that’s it.

 

2) When you start a new habit, it should take less than two minutes to do.

 

A habit is a routine of behavior repeated regularly. When you do it over a period of time, it becomes automatic, something done subconsciously. Well, guess what, you have to take the first steps to form a habit. And if you’re easily distracted, then a habit that can have a positive impact on your life would be harder to form.

The best way to start a productive habit is by doing it regularly for 2 minutes. That’s it. You wanna read a book? Read for two minutes. You’d be surprised that once you start, you’ve already finished 2 chapters, and you still want to do more. Need to write a letter? Do it no less than 2 minutes.

 

That’s it. Do these regularly. Always keep in mind, “It’s just 2 minutes.” But don’t stop, of course. Develop good habits and make your time more productive this way.