The Pro-Active Approach

A proactive strategy in a business involves anticipating the dynamics of the market and the probable changes in competition, well in advance. This approach includes predicting and identifying the change before it actually occurs and adopting a suitable alternative strategy as a result.

This approach revolves around the concept that it is essential to be well aware of the dynamics of the market, and thus, take actions to prepare in advance, and shift the organizational responses to different altered environmental factors.

Businesses that are active in the technological industry; need to keep abreast of the new ideas being introduced within the market, and design appropriate plans of action to quickly adapt to an ever changing market environment.

Adopting a proactive approach helps spend time and money in the right way, while building the organization. It helps the organization save both, time and money, in the short and long term as well. With a clear idea of what to expect in the future, an organization and its employees are prepared with a strategic plan, to counter the effects of a major policy change or critical alteration in the industry procedures.

By opting for a proactive approach, a business can build the company right, from the start, by designing a structure which is well aligned to their own goals, mission, vision and objectives, with the future in mind. This will help the organization take every business decision on the basis of their short and long term objectives that are planned in advance, keeping the probable changes in the market dynamics in mind.

A reactive approach is tantamount to giving a reaction, once a major change has taken place in the market. It is just like opting to change the entire outdated software and technological system within the company, after the latest advancements have taken the industry by storm; speeding business processes and leaving you unable to cope.

As opposed to this, an organization which works with a proactive approach, will update its system processes with the first proved advantage of the new technological systems, and will improve their efficiency to increase their market share, where a reactive approach organization is still scrambling to regain their former clients.

Given the marked differences in both approaches, which approach would you want to opt for in your business?

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The 5 Levels of Entrepreneurs

11565_167524034308_51023034308_2595236_391382_nMy definition of a business is a commercial, profitable, enterprise that works without me. 80% of businesses fail within 5 years of start-up and most fail because the owner didn’t know what to do. Business is like a game,  if you want to play the game, you need to learn the rules. You need to learn from someone who’s succeeded at the game, not from scorekeepers (accountants), the rule makers (lawyers), the spectators (employees), the money holders and collectors (Bankers) and not from D- grade players (business owners who are just going to fail).

Here are the 5 Levels of Entrepreneurs to give you a framework that’ll allow you to understand yourself and the thoughts you have that got you to where you are now, as well as the tools to grow from where you are now to where you want to be…

Level 0 – The Employee

Everyone starts here but it’s not the most recommended strategy for wealth creation. Your income is at the mercy of someone else’s decision on how much they decide to pay you. Many employees relate to money that it is scarce, that there never seems to be enough, but that’s not true if you look a little deeper.

Level 1 – The Self-Employed

Here is the first jump someone takes from being an employee to being-self employed, however it is quite common that people will get stuck here. Rather than it being their business, they’ve become an employee to their own business. You get stuck working IN the business rather than working ON the business.

Level 2 – The Manager

You’ve finally grown your business and now have employees and you’re starting to feel like your business has started gaining momentum… It’s easy to get stuck on this level as well, especially when you find yourself working harder, longer hours, doing your own work and fixing other people’s mistakes. In order to get out of this level you want to work on your systems, you must have good systems that allows the business to function smoothly.

Level 3 – The Owner/Leader

If a business stops growing, it begins dying. As the Owner/Leader you have more time on your hands than you ever had before. Previously your focus was on cashflow and now your focus will shift into profit. At this level you will now be receiving profits rather than making and/or earning money.

Level 4 – The Investor

Investors have a very different way of thinking when compared to those on previous levels. As an investor you make your money selling businesses, not running them. You buy the business, build them up and then sell them to other people. Look for the best investment return.

Level 5 – The Entrepreneur

This is the most exciting level to be on. At this level you begin making money by raising capital. You use other people’s money to build paper assets like shares, franchises and licenses. Sell the dream, and then work like heck to make it a reality. Never give up. Stay focused and committed and always keep your mind focused on what isn’t real but soon will be.

Trust yourself and your team, to turn it into a reality.

For more great strategies and philosophies on buying, building and selling businesses I will be in 10 cities starting in September on The Billionaire Tour; here is your opportunity to attend my live Seminar.

Thusday, September 10th 2015 – Calgary, Canada
Tuesday, September 15th 2015 – Miami, Florida
Wednesday, September 16th 2015 – Houston, Texas
Thursday, September 17th 2015 – Dallas, Texas
Monday, September 21st 2015 – Elm Grove, Wisconsin
Tuesday, September 22nd 2015 – Louisville, Kentucky
Wednesday, September 23rd 2015 – Greensboro, North Carolina
Tuesday, September 29th 2015 – Phoenix, Arizona
Wednesday, September 30th 2015 – San Diego, California
Thursday, October 1st 2015 – Las Vegas, Nevada

Brad Sugars started the ActionCOACH brand when he was in his early twenties. Today the company is internationally recognized as the leading global business coaching company. A world-reknowned speaker, he is also an author, best known for his “Instant Success Series” and most recently, “Buying Customers.

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Benefits of Internet Marketing for Small Businesses

Getting on the internet marketing bandwagon can prove to be the best decision an entrepreneur decides to take when they start their new business. This is because this form of marketing aligns along with the nature of customers who make decisions regarding purchases. Marketing through internet allows the business to build a relationship with their customer and even their prospects. This method of communication with both is cost effective, regular, and is a form of mass marketing. Here are some more benefits of internet marketing for small businesses online.

Convenience for International Customers and Prospects

The internet allows you to do your business around the clock and that too internationally. No more worrying about getting your store open on time anymore, or about keeping an eye over your employees. By offering products directly to the customers online, you are allowing them a convenient option of shopping. They can easily browse though all categories, read through the product descriptions, and talk to an active customer representative when they need help. Not to forget the payments options, which they can select, according to which one is best suited for them. If they have the experience they were expecting from your services, they will refer your website to more customers, increasing the amount of traffic.

Costs

Doing business online and doing business in a physical retail outlet has differences when it comes down to the cost. When you own a store online, you do not need to hire many employees; one or two are enough. In addition, you will not need to buy displays, shelves, freezers, coolers, or anything which may increase the amount of money you are investing. An online store needs someone who can attend to customers, someone who is handling calls and emails, and a couple of helping hands who are stocking the inventory in the warehouse. No need to pay rents, property tax, and major saves on utility bills as well.

Social Platform Advantages

Internet marketing allows an online business owner to make the most of the internet in almost every aspect. Free publicity through platforms like Facebook, Twitter, LinkedIn, YouTube, drive massive numbers of traffic back to the business’s website. If everything is properly managed, the business will be a major success, and majority of the reason behind this success is going to be none other than internet marketing.

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3 Ways to Help a Small Business Get Started

Are you ready to start your life as an entrepreneur? Then it is time to get your small business up and running. In order to run a successful small business, there are some trade skills which you will have to learn. Here are three helpful resources that new small business owners should consider:

Entrepreneurial Training

Learning what you need to know from those who were once where you are is one of the best ways of learning. You can take lessons from successful entrepreneurs through many ways, many of them allow internships in their companies, and others give online classes. You can sign up on many websites to learn the entrepreneur’s way to success, and to learn many amazing things you never knew. Not only will your business grow, you will also experience growth as a business owner.

Government Programs

Through businesses plans and social media, US Small Business Administration (SBA) helps provide advice from professional entrepreneurs to those who want to master the art. Websites like www.sba.gov offer online courses that cover the basics of a business including financing and marketing. The website also has sessions of 30 minutes for starting encore businesses. Technical classes and workshops are held at more than 1,800 locations nationwide, which you may enroll for by paying a small fee. SCORE is partners with SBA, it holds hundreds of seminars for new entrepreneurs as well as training workshops for a small fee.

College Courses

Unbelievably, there are colleges that offer courses on how to be a successful entrepreneur, that too for free. One example of this is the Open Education Consortium, which offers 7,000 courses free, you can also stay updated about events and conferences too. Another website offering free courses from universities worldwide is www.coursera.org.

Which ones will you choose to help a small business?

Are you ready to become an entrepreneur?
Take this Entrepreneur Test to see if you have what it takes to be successful working for yourself…

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3 Inspiring Online Business Success Stories

There are individuals who become successful entrepreneurs by starting successful small businesses, eventually making their way to the top of the ladder. Then there are those who become just as successful, more even, by stretching innovation to its limits. Using the power or the internet to its fullest potential, adding a dash of hard work, a pinch of inspiration, they too became successful entrepreneurs. Let us look at some of their inspiring online business success stories.

1. Yun Ye – The Domain Legend

In 2004, one Chinese American man became a legend after he suddenly became the owner of $164 million dollars. Yun Ye (fake name) sold a portfolio containing 100,000 domains, which were forgotten, expired, or changed, to Marchex. He started collecting domain names back in 1998 with the purpose of selling them back when there was demand for them. Luckily, for him, in 2000, paid search became the best way for advertisers to benefit from PPC search engines. Search engines such as Overture (Yahoo) would pay people like Yun Ye for placing ads on the domains. The domains which Yun Ye was maintaining were generating revenue of $20 million annually, out of which $19 million were profits. Marchex purchased those 100,000 domains under an agreement that his real name would be kept a secret – and the domain legend was born.

2. Markus Frind- $10 million a year working 10 hours a week

Who would have imagined that even working for only 10 hours a week can get you a massive amount of $10 million in your wallet annually. Frind hadn’t anticipated it either. He started a dating website as an exercise to master a new program language ASP.net. Within a short period, the website became very popular, especially among English speaking Canadians. Soon, its popularity began to spread throughout the US. Frind, from Google Adsense alone, makes $10,000 each day. Now that’s a spectacular way of making money!

3. Ashley Qualls- Millionaire at just 17!

Ashley Qualls started a website as a hobby at the age of 14. The website provided free layouts for platforms like MySpace, which were all the hype back in the days, along with basic HTML tutorials for kids. Unbelievably, her website generates more social traffic than CosmoGirl, Teen Vogue, and Seventeen combined! By the age of 17, she became a millionaire and obtained legal emancipation. She even rejected an offer for $1.5 million and a car worth a whopping $100,000 for her website.

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