Actual for You - Business

How to Avoid the Curse of Complacency
I understand the concept of complacency. Been there and done that. Complacency, according to the dictionary, is being pleased with oneself or one’s merits, advantages, and situation, often without awareness of potential danger. Have you ever been complacent? Have you ever been very happy with a situation, only to realize later that things weren’t really so great? It’s been my experience in almost 20 years of business that at one time or another, all businesses fall into the complacency trap and as the song goes, you never realize what you have until it’s gone.For many years I was the President and Owner of my family’s chain of wine stores. I remember times when things were great, and could hardly imagine things could be different. Only, things were slowly changing, unbeknownst to me For starters, Costco arrived with a flourish on the wine and spirit scene. As the number one seller of wine in the U.S., Costco has had a profound impact on the fortunes of independent retailers. At the same time, costs were going up across the board. For example, our insurance premiums (post 9/11) went through the roof. Other expense categorie

e to actually study innovation, invention, the future, the past, and specific creative techniques. On that last point, here’s an example of one technique: think about opposites. What’s the opposite of a high priced anything? An economy priced version. What’s the opposite of a big package? A small one. It’s chunky versus creamy. Light versus full-bodied.

There are books, Web sites, training programs, articles, and devotees of the study of creativity. It’s time for you to “start your creative engine,” buckle-up, and blast off to other worlds that can be reached only in your imagination.

3) Research, research, research. Study, study, study. Read, read, read. Do your homework. Remember that old adage about “location, location, location”? Well, now you can forget that one, at least for the moment. Your location, your customer base, your supply channels, your price, all of these things will become clear if you become a researcher. We are not talking about the stereotypical, wimpy, “beat me up in the schoolyard and take my lunch money” type of researcher. We’re talking about a new breed of formidable, respectable, “super

Is IP The Most Cost Effective Choice For Your Business Communication Applications?
Too often a business assumes that IP based solutions are the best choice to satisfy their communication requirements. Particulalrly with convergence issues. But....don't get caught making a hasty decision. There are viable options...and factors to consider before making a final choice.One of the problems with convergence is protocol, starting with IP.While we tend to think in terms of Internet and IP, there are alternatives. Dedicated circuits come to mind, followed by frame relay. One option that hasn't gotten much exposure but may offer some real advantages is gigabit Ethernet via fiber optics. The fiber overcomes the distance limitations associated with Ethernet. Ethernet allows for layer 2 switching versus IP based routing. From a private network perspective, this may be an ideal way of lowering overheads and improving latency and jitter issues.The same applies to other transports such as a private radio network. The IP headers are only one solution to source and destination, and are necessary only when joining the public Internet where IPv4 is the required protocol by agreement (not technical requirement). In 198

Bootstrapping a business startup does not necessarily mean that you are unable to find traditional sources of capital. It may mean that you are clever, or that you know a bargain when you see it, or that you are the type of person who derives a certain satisfaction from crafting something using your own hands and vision, from scratch. If this is the way you feel, a franchise is probably not for you. A venture capitalist, if you could even find a member of that rare species when you are just starting out, is also likely to want some or too much control, and your vision might be thrown out of the window in that scenario as well.

It’s kind of the same thing when you make your first homemade cheesecake using a recipe from a gourmet magazine, and then you realize how horrible those store bought cheesecakes in a box (that you used to eat) would taste in a side-by-side comparison. Just think, if you embrace the “entrepreneur as gourmet chef” metaphor that I have suggested above, you can tell people that you are an “Entrepreneurship Connoisseur” at social gatherings and when you are seated next to other first class passengers on your next flight to someplace exciting. Not going anyplace exciting, you say? Funny you should exhibit such a lack of enthusiasm, because that leads us to tip number one:

1) You may have thought that we’d start out with some high-powered “secret” bargaining strategy for bartering or negotiating with suppliers or landlords. Well, in a way you are right. The all time top tip, numero uno, has to do with your attitude. Do you think you are “having a bad day,” routinely? Maybe it’s not the kind of day or days that you are having; maybe it’s your contagious nasty attitude that infects everyone around you and holds you back.

Here’s a technique that you can use to thwart “nasty attitude syndrome”—a vicious, virulent disease: Use a mirror. If you don’t like the way that you look, imagine how other people feel. Put the biggest, nastiest snarl on your face that you can muster. Stare hard into that mirror and say, “I want the best price—now.” Does the person in the mirror look like he or she would be inclined to melt before your eyes and say, “For you, my friend, I’d give you the world on a silver patter, because you are my favorite kind of person”?

Perhaps I should explain the almost magical curative powers of the mirror that you should now be holding in your hand (yes, use a pocket-sized model that you can carry along, wherever you go—on all of those exciting trips). If you will stand on your head while you are frowning, you can “turn that frown upside down.” Other people will smile at you, and perhaps even chuckle, or roar out loud, rolling in laughter. Now you’re getting the hang of it. A positive attitude and a smile on your face will help you start your business, get out of trouble with your spouse, or get you a date if you are single. Practice being excited, (just about) everywhere you go.

2) For anyone who has forgotten kindergarten, let me remind you that you used to be creative—maybe you still are—and creativity is the heart and soul of bootstrapping. If you have lost touch with your creative side, or it has been pounded out of you as a result of other people’s efforts to turn you into a compliant drone, one who fits perfectly in a cubicle, then it’s high time you start acting like a kid again.

Yes, we’re talking crayons, paint, glue, cardboard, scissors, wood, and trips to a junk yard. We’re talking Animal House (the movie), and good old-fashioned food fights. We’re talking about imaginary worlds depicted in amusement park rides. We’re talking about science fairs, contraptions in your garage, and blue-green gooey stuff oozing out of boiling pots. We may even be talking about an illustration of the product idea that you have, or a three-dimensional model of a store layout—like the one that you will implement in real life when you start your business.

If all of the above seems too silly, you are just flat-out in desperate need of the intervention described under tip number 1. You must get out of the rut that you are in. Working in a cubicle for the rest of your life is the notion that’s really silly. When you leave your present workplace to go home, take a different route. You may find that by getting lost while you are on your journey, you rediscover your creative inner child, inside.

Creativity is an act, something one does, not a trait. You have to give your creative side the time and tools to act. Get yourself unstuck through lots of stimulation. Take the time to actually study innovation, invention, the future, the past, and specific creative techniques. On that last point, here’s an example of one technique: think about opposites. What’s the opposite of a high priced anything? An economy priced version. What’s the opposite of a big package? A small one. It’s chunky versus creamy. Light versus full-bodied.

Starting a New Business - Your Business Framework - What Scaffolding Do You Need?
When starting a business of what ever kind, large or small, there is a always a require framework or scaffolding that you have to set up. Not only does this make your business much more effective, but it also saves you from a lot of embarrassing and costly problems. Here is your framework:1. Business Name. Choose an appropriate name that sums up what your business stands for. It has to be unique – try and ensure that a suitable domain name is also available as you will probably want a web site as well. The owner of an established web site might cause problems if you give your brick based business the same name – so be careful in your choice.2. Your Business Entity. Obtain professional advice as whether to the best way to set up your business as a limited company, partnership etc. Then register your company.3. Patents and Trademarks. If you have unique products then you need to ensure that you have registered your patents before your start trading. Similarly any product names, mottos, selling tags etc should be trademarked. Take professional advice on how to do this..4. Licenses

light to someplace exciting. Not going anyplace exciting, you say? Funny you should exhibit such a lack of enthusiasm, because that leads us to tip number one:

The Easy Way to Wash Cars at a Carwash is to Hire Illegal Aliens
We are probably all aware at this point in our lives that many illegal aliens work at carwashes and even with the pretend crack down on illegal immigration and the outrage of citizens in the United States of America it is obvious that nothing has changed at the carwashes, they are still hiring illegal aliens.This has been going on for decades and having been in the carwash industry myself, I was always completely appalled by these violations our competition was committing against our immigration laws. You see in my travels I have also visited over 3000 coin-op car washes, 700 full service car washes, 3800 roll-over car washes, and even had my Corporate Command Center washed at over 100 different truck washes. Personally I have viewed the units of over 1000 plus mobile washing units and visited every other major manufacturer of washing equipment. I can tell you although my competition in the mobile carwash business generally did not hire illegal aliens, some where illegal aliens themselves.And the fixed site carwash owners, well let’s just say most of them used illegal alien labor. And as far as “used” it was really closer to “

rson”?

How Would Your Manager Rate Your Hassle Factor - High or Low?
About five years ago, my wife and I bought a new car to replace my aging college jalopy. We used every resource we had to bring the price down to where we could afford it: credit card points you could apply to vehicles, an employee discount through my company, trade in of the old car, and a little bit of cash we raised picking up cans by the side of the road (O.K., maybe the last part was made up, but we did use everything else). By nature we are not extravagant spenders, but for this purchase, we went all out. Leather seats, all the bells and whistles, even the flashy red paint that was limited to the high end model. We planned on making this car last for awhile, so we were O.K. with the expense. For about four years, the car ran great and we really enjoyed how it handled and rode. The gas mileage was good and because it was a six cylinder, it had plenty of power when it was needed. Our car was our friend.Somewhere around Year Five, however, the friendship started to go south in a hurry. The water pump failed, spraying coolant all over the engine and requiring a complete change of belts. Two (yes, two) batteries died and one came clo

cissors, wood, and trips to a junk yard. We’re talking Animal House (the movie), and good old-fashioned food fights. We’re talking about imaginary worlds depicted in amusement park rides. We’re talking about science fairs, contraptions in your garage, and blue-green gooey stuff oozing out of boiling pots. We may even be talking about an illustration of the product idea that you have, or a three-dimensional model of a store layout—like the one that you will implement in real life when you start your business.

Cash Flow Planning for Solo Entrepreneurs
You’ve heard it a million times – cash flow can make or break a business. Lack of cash flow planning is the reason why many businesses fail. In fact, many PROFITABLE businesses fail because of cash flow issues. Without adequate cash flow, you can’t pay your bills and you can’t make plans for your business.So… what is cash flow planning? Cash flow planning is projecting your future cash inflows from sales, services, and loans, and comparing them to your future cash flow needs (suppliers, salaries/wages, loan payments, taxes, etc.). The difference between the two is your net cash flow.Why is cash flow planning so important? Cash flow planning can help you identify problems down the road, and fix them before they occur. Cash flow planning can also help you make decisions such as should I attend that conference I’ve wanted to attend, should I buy the new computer I’ve been wanting, or do I need to work extra hard this month to avoid a cash flow deficiency next month?The first step in planning your cash flow is knowing where you spend your money! Solo entrepreneurs need to have a good grip on both their personal and b

Quickly, the next time you visit your neighborhood video store, count the tapes (DVD’s, games, etc.) on one shelf. Then multiply the number of videos on that one shelf by the number of shelves in a display case. Next, how many cases are on one wall? Assuming four walls, how many new releases does the store have in inventory? Count the middle section, too. How many customers are in line? Do they look happy? How many employees are working? How many are loafing? What have you observed about the business? Does it look like the store’s making money? (No, we are NOT “casing out the joint” for a robbery.) How long has it been in business? How busy is the store, morning, noon, or night?

Collect competitors’ advertisements. Collect advertisements that you simply like (on the basis that they apparently gain attention, sell benefits, and stimulate action). Collect crummy ads, so that you won’t repeat the mistakes made by others.

Bootstrappers pay close attention to what other people and businesses do, so that they might emulate good business ideas, or deviate from the norm with better ideas. It’s amazing how many businesses are founded on the basis of so little research or planning. If you intend to start a restaurant, and you are willing to spend $10,000 or more on a stove or a commercial refrigerator, wouldn’t it make sense to test your idea first? Prepare a meal as though you were already in business. Invite some guests to try your cooking. Ask them questions. How much would someone pay? How often would they eat the type of food that you have prepared? Conduct a survey yourself, or work with marketing students or interns through a local college or university. Ask, ask, ask, lots of questions.

Buy every entrepreneurial startup guide book pertaining to the type of business (if it is a typical one) that you are planning to develop. Go to trade shows. Read trade periodicals. Talk to people. You are a “private eye,” and your client is your would-be business.

Create a “war room.” What’s a war room? It’s a place where you put a map on the wall, and use push-pins to depict an “enemy’s” location; also affix notes to catalog strengths and weaknesses that you have noticed as a visitor. It’s a place where you house all of the competitive intelligence that we’ve been discussing. It’s a place where you plot the rise of your business, from small, well conceived beginnings.

4) I know, the article title said “3 Tips.” This is a bonus tip. It’s a FREE BONUS tip, for those persons who are still with me in this discussion. If you can’t handle the first three tips, don’t try bootstrapping. You won’t make it. You need an inheritance, or you should resign yourself to staying in that cubicle. Try adding some color—a candy jar, or fresh flowers—so that you’ll be happier in your confinement. Hey, that would be a small step toward changing your life, after all!

Here’s the actual tip: Start small, and think differently (you may have supposed that I was going to say “think big,” instead—that wouldn’t be a bad idea, either). Give yourself time. Not days, weeks, or months, necessarily—we’re talking years, if that is what you require to develop a contagious, positive attitude; create a winning idea; and become fully prepared for your exciting journey, bootstrapping your way to the top.

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.actual4u.com/article/18442/actual4u-Starting-Your-Business-3-Tips-for-Bootstrapping-Your-Way-to-the-Top.html">Starting Your Business: 3 Tips for Bootstrapping Your Way to the Top</a>

BB link (for phorums):
[url=http://www.actual4u.com/article/18442/actual4u-Starting-Your-Business-3-Tips-for-Bootstrapping-Your-Way-to-the-Top.html]Starting Your Business: 3 Tips for Bootstrapping Your Way to the Top[/url]

Most business owners don't have a Business Plan. And most of those that do never look at their plan once it's completed. It is easier for a consultant to sell a business owner a plan when they don't have to explain what they must do to make it work.

Retail shops are nearly always teeming with people. They come in a large number and on a busy day, during peak hours, it might become almost impossible to deal with so many customers. The task of managing accounts in such a situation can be really tough due to the sheer variety of the products people buy.

Tags

Links

Actual for You - Starting Your Business: 3 Tips for Bootstrapping Your Way to the Top

Related Articles: