Ever dream of owning your own business and doing things your own way? “Lots of people think that they are smarter than their boss, if they are smarter than their boss then they should have their own business,” said Internet Entrepreneur, Mike Mann.Mann has advised aspiring entrepreneurs on everything from business plans to human resources to search engine optimization tactics while stressing the importance of hard work. Some tips he has shared include:
- Focus on what you know. Your best bet for success is working in a field that you are passionate about. If you have been in several different fields and job positions throughout your life, your second best bet is to go into an area of business you are personally attracted to even if you know nothing about it.
- Once you have a solid business plan and secured basic funding, take the plunge and quit your job. A seriously profitable business can’t be built on a part time basis. You have to put in as many hours as possible and more to reach your business goals. People in your life may discourage taking this major risk, but it’s important to remember you can always go back to the job market and work your way back up if your business does not workout.
- Choose a strong business name, Internet domain and logo. Use a website like MTurk.com to reach out to your target audience and let them vote on the business names. “At the very least, your site should have a good domain name, a memorable logo, the products and services you offer, your corporate history and your contact information.”
- Create a sound business plan and invest in the best professionals to help guide you.
- Always be open and looking for new ideas. Doing informal research will lead to areas worthy of more intensive research and possibly worth pursing in business.
- Aspiring entrepreneurs should study “profusely” by keeping up on the latest business books, magazines and other forms of media.
- Stay focused and don’t let blips in your progress derail you. “Take two leaps forward for every one step back.”
- From the start of your business begin creating a Best Practices document about what works best for your company. Continue to add to it as your business grows, it will be a document that will continually evolve and change with new information that drives your industry.
- Always keep an open mind and be ready to change your thoughts. Some of the best business minds tend to do this including Warren Buffet, Steve Jobs, and Bill Gates. It never hurts to see what other options exist; sometimes the old way of doing things no longer makes sense. Continue to reexamine what it will actually take to accomplish your goals.
- Give back to your community and beyond by participating in causes that are meaningful to you and your customers. “It’s not just about superficial material gains. It’s about achieving a position that allows one to make changes in the lives of those who need our help.”
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