Are You Forty Plus? It’s Not Late to Startup

Are You Forty Plus? It’s Not Late to Startup

Nobody can take away the credit from the young generation to show us the way in launching a business, running it successfully and raising funds from some of the biggest foreign funds. These two set of professionals have only one thing in common – fire to launch a business and make it a success – but beyond this, there are stark differences in how they execute their vision.

The older entrepreneurs who are beginning to give start-ups a serious thought should play to their strengths, like their experience, domain expertise, their ability to finance their business, use their professional network to recruit the right talent. If you are 40 plus and looking to start up, launch a business idea you understand and don’t attempt to merely ape and compete with high energy and daring younger entrepreneurs.

For a 20 something, they have no family pressure or equated monthly installments to pay. What they lack in experience, they more than make up for it in their energy and hard-to-control enthusiasm. The younger generation has grown seeing what technology can do to address many problems of our lives and is thus inclined towards launching more consumer facing tech-enabled businesses. In India, these folks while in college replicate international business models and build minimum viable products and are able to scale up much faster.

One of our investee companies, launched by three IIT Kharagpur 2012 graduates, has young founders with merely two years of work experience. They lived in a rental accommodation and used their savings to start a business in inter city cab booking segment. They had no fear of failure and no preconceived notions on what would work. They put all their saving to risk and lived hand to mouth for a year. Recently, they have raised funds and seeing a healthy month on month growth in the business.

If a young entrepreneur fails, society in general, and the corporate sector will see this as a positive. It shows their risk taking capability. On the contrary, if an entrepreneur fails in his 40s people take it as personal failure not realizing that entrepreneurship is anyway fraught with risks. Corporates, on the other hand, may brand this failed entrepreneur as someone who likes ‘full freedom’ in the work environment and not someone who can work in an organised set-up.

As a senior entrepreneur, one needs to leverage from industry knowledge and network. Create a business in the industry where you have grown and solve a problem that you have faced. More senior entrepreneurs should look to digitise business processes in their industry of comfort and knowledge. Having spent time within the industry, one is able to leverage from one’s contacts to get things done at a minimal spend and in most judicious manner.

To my friends of my age, I say: Go for businesses in sectors you are familiar with; take the risk and be out of the corporate set-up; invest the risk capital and build the product; take newer blood in your team; shred the ego of who you were and how many people reported to you; get used to travelling cattle class and don’t compete in businesses that the 20 year olds can do too.

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Building Your Business Fast

Building Your Business Fast

Does it really happen? It can. Does it work for most people? Definitely not. So you hear claims at company conventions of some big dog who has built his business fast and gone diamond in three or four months. You are sitting there thinking that you should be able to do that too and what is wrong with you that you have not achieved the same. Particularly if you have been in the business several times longer than this super star.

Well you can relax because you are just like 95% of MLM distributors. You see there are many things that can skew the picture. The first one is that it is not uncommon for companies to pay one of these heavy hitters to join them. On top of that he is then gifted with a ready made downline. Hard to believe? Sadly it happens and it is done so the company can make claims about the amazing features of their pay plan and how you can be successful with it. Is that lying? Maybe not but it is bending the truth just a bit!

Even if the super star has genuinely built on his own efforts, the chances are that you will not be able to duplicate it. Most of these guys are ‘red’ personalities. They are the sponsor monsters who can hit everyone in sight and get them in the deal. But rest assured very, very few people can work like this.

And why would you want to be like this? Just be yourself; know your strengths and work to them. Never try to blast your way to the top just because you see someone else who has done so. I am not saying you should sit back and set your self a 10 year plan to go diamond. Of course the quicker you get there, the quicker you can quit your job and enjoy a wonderful lifestyle.

So what am I advising? You know the story about the tortoise and the hare — slow and steady wins the race. Well slow is not automatically good, but steady is definitely good. I am a huge fan of and a great believer in the principles of the Slight Edge by Jeff Olson. The core of this book is that “Success is the progressive realisation of a worthy ideal.” Progressive is the key word. What will bring you success is consistent, daily action performed over a period of time. So how long is that time? This is different for everyone but if you could reach the diamond level in two to three years, hey that would be tremendous achievement. That is a level in most companies that will bring financial freedom.

What are the consistent actions you need to perform to achieve this and how do you set about it? Most people start to build an MLM business part time. Juggling your business around a full time job, bringing up a family and maintaining relationships with a spouse and others in your life is a challenge. However it is a mistake to try and do 8 or 10 hours work over the weekend and nothing during the week. This does not build momentum either in the business itself or in your own approach. It is better to do just an hour a day, if that is all you can manage at first. Over time, your activity will naturally build to be more.

Now what are those actions? That will depend on your chosen approach to finding new business partners. Remember that network marketing is about relationships and building the ‘know, like & trust factor.’ That big dog at the convention who made you feel like a failure is probably not very good at that. You can be and as you do that, you will build a solid, long term residual income.

The principle behind building relationships is to offer value and to brand you as someone of authority. Of course you are working to find new business partners. However you should do this without that being your main agenda or you will push people away.

Does that sound like a contradiction? Put yourself in the shoes of the prospect. A guy you hardly know suddenly hits you with a business opportunity? You probably back away. The next person you meet is interesting and interested in you. You find you can chat to him easily and in the process you discover he is really knowledgeable about what he does. How are you likely to react when he talks to you about his business opportunity? At the least, you will be happy to let him tell you about it.

Two of the main ways to develop relationships on line are through blogging and the social network sites. The two methods differ a little and each social site has different protocols you need to be aware of. If you break them, your account will be shut down.

If you are a blogger, you are still working to build relationships, though the process may at first seem impersonal. What establishes you in this arena is posting regularly to your website. Your articles must offer value, information, advice and guidance to people already in or considering joining the MLM industry. Once your articles are posted to your blog, you need people to find them. Submitting them to article directories will bring them to the notice of your target audience. Ensure that you submit them to the right category in the directory; carefully follow the submission guidelines or they will be rejected. With the right back links, readers will visit your blog and then the relationship building process begins. If your blog has good content, your visitors will bookmark it and return. Over time they will leave comments, subscribe to your newsletter and finally make contact.

What constitutes good content? Opinions will differ here. I believe that if people feel uplifted and inspired when they go to your blog, they will return. Ideas to help them develop their business; inspiration for personal development; advice and guidance about looking for a new business opportunity are all things that will establish you as an authority. Just decide on the philosophy behind your blog, spin content around that and stick to it. Over time you will attract the people you want to be in business with. Everyone is different, so every blog is different. Look around for inspiration from established bloggers but be yourself. This will generate leads.

The social networks are very different. Facebook allows you to set up your own group to which you can invite members from your friends list. By sending out regular group messages and posting content on the group wall, you start to build relationships. You can also build a dialogue through posting on people’s walls. But don’t spam them with links to your business opportunity. Your account may be shut down and people don’t like it.

BetterNetworker is oriented to business users, but again spamming members with links is not accepted. In some ways it works like a blog in that you establish yourself through posting articles. Once you get a reputation you will be contacted.

Twitter is huge of course and here you build a following through the tweets that you post. Often your followers will then suggest connecting on Facebook where more personal interaction is possible.

So decide on your strategy. Focus on it for at least 6 to 12 months till you become really good at it and it is generating leads. Then think of branching out into a new area. Above all keep doing your daily actions without expecting any of them to bring immediate return, though they might. Over time you will look back and be amazed at how successful you have become.

The secret to building a successful business is performing regular daily actions. Consistency rather than speed is the key.

Are you struggling to build a huge business? Are you lacking real support and skill training? Charlie Holles offers what your company does not – at no charge. Check out the free ebook on MLM mentoring and training online and find real success.

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Stop Being A Business Owner

Stop Being A Business Owner

When I was stuck in the corporate world many years ago, I dreamed of escape to the freedom of running my own small business. Eventually I plucked up the courage to leave and started my own small business, with the goal of training and inspiring people. In order to run my business, I taught myself how to do VAT, keep my books, do my accounts and keep stock of products. While I was free of the pressures of a boss and organisational structures and politics, but I still didn't feel very free and I even felt a little disappointed. I felt a slave to my business, and had left the corporate world to work for love, but seemed to end up working for money, and working for my business, rather than my business working for me.

Today I see there is a big difference between the small business owner that I was then, and the inspired entrepreneur I have become today. I realise I had the heart and soul of an inspired entrepreneurs, but was trying to squeeze myself into the straightjacket of being a small business owner. Below I am sharing what I have identified as being the ten main differences between being a small business owner and an inspired entrepreneur.

Difference one - Inspired entrepreneurs follow their inner calling

Inspired entrepreneurs have found the work they were born for, and are following their particular and unique calling. There is a great fit between what they do and who they are, and feel they are constantly drawn forward to become the person they were born to be

Difference two - Inspired entrepreneurs create a business that supports their own talents, passions and lifestyle

Inspired entrepreneurs create businesses that supports them and their lifestyle and don't sacrifice their lifestyle to their businesses. Many small business owners sacrifice their own needs in order to be successful. Inspired entrepreneurs know their business can be a vehicle for discovering and expressing their own unique gifts and talents.

Difference three - Inspired entrepreneurs have a higher purpose than just making money

Inspired entrepreneurs love making money and are very willing to make money, but that is not the sole purpose of their business. They didn't set up a business to become an expert on tax and bookkeeping. Inspired entrepreneurs are motivated to create and contribute and that much of the conventional stuff needs to be done well, but is for the maintenance of the business, but not the purpose of the business.

Difference four - Inspired entrepreneurs are always evolving their business

Inspired entrepreneurs love working on their business as well loving to work in their business. Small business owners tend just to work in their business, doing what needs doing to make the business work. Inspired entrepreneurs intrinsically love what they do, but also love stepping back and thinking creatively about their business, how it can be more fun, inspiring, profitable and effective.

Difference five - Inspired entrepreneurs love growing themselves

Inspired entrepreneurs love learning and growing themselves through running their business. They know that running their own business is the best personal growth seminar on the planet, becoming a mirror to highlight both their strengths and their weaknesses. They are curious about what they can become and love discovering what they capable of. They are less interested in being competitive and more interested in realizing their own potential.

Difference six - Inspired entrepreneurs are fueled by inspiration rather than motivation

Motivation is often about getting pumped up by some external force, whilst inspiration is about being lit by a fire within that can burn forever. Inspired entrepreneurs don't need to pumped up, but they know they need to regularly kindle and rekindle their flame of inspiration, by going to their own wells of inspiration and inspiring themselves.

Difference seven - Inspired entrepreneurs love understanding how they find and attract their ideal clients

Inspired entrepreneurs are endlessly curious about how to attract and serve their clients better. They love serving and contributing, and believe that what they do makes a difference. They enjoy getting the word out about what they do, and getting people to act, but only in ways that are grounded in honesty and integrity. They are willing to give up being anonymous.

Difference eight - Inspired entrepreneurs work in inspired, smart and strategic ways

Inspired entrepreneurs know that hard work alone is no guarantee of success. They don't confuse being busy with being strategic. They have shed the prevailing belief of the protestant work ethic and know that success doesn't come from pain, struggle and sacrifice, but instead know it comes from brilliant ideas, well implemented. They know that "time out" to generate new ideas and think strategically is often more valuable than another hour at their desk.

Difference nine - Inspired entrepreneurs navigate their life by using joy as their compass

Small businesses tend to be more mechanical and repetitive, whilst inspired entrepreneurs navigate their business and life through a sense of joy, inspiration and aliveness. They also have a sense of destiny and rightness about what they do, knowing that their particular talents are being used to the maximum and that they and their business evolve through a sense of ongoing revelation about their next steps. They hate being bored and are always asking, "How can I inspire myself next?"

Difference ten - Inspired entrepreneurs value their heart and their thinking

Inspired entrepreneurs know that they bring the love and the money together by marrying their inspired heart together with their brilliant entrepreneurial thinking. They become potent by using one to support the other and not have them be enemies. They use great business strategies to support their inspired ideas.

So start inspiring yourself and setting your sights higher by become an inspired entrepreneur rather than a small business owner. It is one of the best ways on the planet of being happy, inspired and fulfilled, and making the contribution you were born to make.

Nick has created a free 8 part transformational e-course "Secrets of an Inspired Entrepreneur" (value £79.99) You can sign up now by going to right now. Nick Williams is one of the world’s experts on inspiration at work and is passionate about helping create a new kind of entrepreneur. He is the best selling author of five books including The Work We Were Born To Do.

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