Entrepreneurship: 100% Hard Work

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

Your success depends 100% on your hard work. It does not depend on other people’s hard work. You are the one who holds the control for success and failure. Many people are trapped with negative thoughts which consist of 3 stages of self-sabotage.

The first one is BLAME.
Blame is an attitude of blaming the situation or other people. This attitude does not build a positive attitude in one self. It is similar to running away from reality, that I am the one who should be blamed or praised for my failure or success.

The second one is EXCUSE.
Excuse is an attitude of finding excuses to justify why one fails. George W Carver said that 99% of failures are the results of people who have a habit of finding excuses.

The third one is DENIAL.
Denial is an attitude of resisting change and reality that this is the condition that must be accepted.

To be successful, you must first change your attitude. There is not a single negative attitude that can improve any situation. Only positive attitudes that can enable you to accept the worse situation and change it to become better.

There was an old man that walked in the darkness of the night. He stopped below the street light and started looking for something. Then, a young man came and asked the old man, ‘What are you doing?’ The old man answered, ‘I am looking for my lost key.’

The young man helped the old man to look for the key. After searching for 2 hours, finally the young man asked the old man, ‘We have been looking everywhere around here and have not found the key yet. Are you sure you lost your key around here?’ The old man answered, ‘No, I lost my key in my house, but since my house does not have any electricity or lightings, so I look for it here where it is brighter.’

This funny story reminds us not to find excuses or the key of success out there, because everything is actually started from inside our own self and only we ourselves can change our own situation.

My personal friend, Adam Khoo, an expert in NLP (Neuro Linguistics Programming), shared a simple theory which is very important, which is:

E (Event) + R (Response) = O (Outcome)

This simple formula explains why failure or success, rich or poor is actually the result of how we respond in our lives. If you do not like the result that you are getting now, there are 2 choices that you can take:

Option 1
BLAME THE EVENT AS THE REASON FOR FAILURE
Blame the bad economic condition, the bad system, flood, and many other things that you can justify as excuses for failure.

Option 2
CHANGE YOUR RESPONSE TOWARDS THE EVENT
This is the attitude that belongs to a true champion. Because it makes much more sense to change your Response rather than blame the Event. If you do not like with the results that you are getting, change your Response!

Failure or success, rich or poor, is the result of how we respond in our lives.

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Entrepreneurship and the Internet

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

It seems like everyone these days is talking about one thing: entrepreneurship. Either someone’s an entrepreneur or someone else is talking about a new enterprise. Just what’s so great about this whole entrepreneurship buzz anyway?

The definition

Entrepreneurship is a person (or sometimes a group) which pursues opportunities to satisfy needs and wants using uniqueness and innovation. It’s going after an idea and making it happen.

Some people think an entrepreneur is a business gambler, taking chances on an unproven business or an idea to make money. Sure, entrepreneurs take risks, but they’re calculated ones, not random investments on crazy concepts. The risks entrepreneurs choose are ones determined to have the potential for great return.

The profile

Three factors are the keys to entrepreneurship: opportunities, innovation, and growth.

A person with entrepreneurial aspirations observes environmental trends and changes and pursues unseen opportunities with all possible resources. He or she uses innovative ideas to revolutionize and transform products or services, coping with changing environments.

The entrepreneur is also focused on growth, applying continuous effort to expand their business. Success is the ultimate goal, and creative approaches, such as outsourcing some aspects of the business help to achieve those goals.

The personality

Entrepreneurship involves a desire to be bigger, sell more, and go beyond what is expected. A visionary perspective spurns ideas. Drive and determination push an entrepreneur forward.

Of course, an entrepreneur needs to take some great leaps of faith. They also need to take some incredible risks. But even the largest corporations started out small. Through the calculated strategies of entrepreneurs, small businesses became world leaders.

The landscape

Entrepreneurship happens all around us, in all four corners of the globe. The Internet, though, is the landscape that is buzzing with entrepreneurship right now. It offers new industry possibilities, for those who are motivated to take the chance.

These entrepreneurs drive today’s global business environment. Through calculated risks, they improve the world and profit from it. Stepping out of the comfort zone, they invest in development through technological advancements. They strive for greater heights, providing better products and services to consumers.

Everyone from homemakers to unemployed workers to students are striking it rich because of the opportunities the Internet offers. Many are young, dynamic individuals unafraid of risk and many more are mature people ready to make a change. Avid entrepreneurs in established businesses are realizing the potential the Internet offers, too. Anyone can seize ideas and turn visions into reality. All they have to do is take a chance.

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Entrepreneurship and Michael Dell’s: Content, Commerce, & Community

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

If you want to be an entrepreneur, who better to study than Michael Dell? He is an inspiration to entrepreneurs everywhere. Starting in his college dorm room building computers, his understanding of business has made him an icon of success in the arena of technology businesses.

In two keynote addresses given almost a decade ago, Michael Dell defined three principles or concepts for successful internet businesses. Much of what he suggested is now standard practice and in some cases has been taken further than he probably imagined.

Theses principles are sometimes referred to as the 3 C’s. They are content, commerce and community. Careful study of these three principles can help entrepreneurs, those with home based businesses, and network marketers.

The first of the 3 C’s is content.

How did Michael Dell define content? Listen to the words he uses to define it for the Detroit Economic Club on November 1, 1999, “The first stage of content means providing compelling information. This is how we started our online operations in 1993, when we put our technical databases online for customers to access. It was a relatively simple start, but it showed us the tremendous interest from our customers.”

At the keynote address at the Southwest Government Technology Conference in 2000, he made similar suggestions to the ones he made earlier in that Detroit meeting.

He suggested this: “By content, we mean bringing information online. Anytime you have a form, a manual, or a document, put it online. This is the foundation of any Internet strategy. Once we brought information online, it became clear to us where the opportunities were in the transaction world: simple things like order status and commerce, and we have added more complex things over time. The key, again, is that it is experiential and you learn by doing.”

If you want to be an entrepreneur, what is the content you already have, what content do you need to develop?
Look at your present or future business from the content perspective? Define your content. Learn from those who have created that kind of content. Do what they did to create it.

You need products or services to provide to customers. Make a list of the content they will need to explain, troubleshoot, access, or know about your goods and services. A viable business start-up needs content tied to real-world products or services.

The second of the 3 C’s is commerce.

Read how Mr. Dell defined it in Detroit, “The next stage is commerce, which should be thought of as all transactions, not just buying things over the web. In fact, our first activity in this area had nothing to do with purchasing. It was simply order status.”

A few months later at the conference in the Southwest he reiterated, “The second stage is commerce. You should think of this as any kind of transactions. Our first experiment with transactions really had nothing to do with “commerce.” It was an online order status tool. We knew we were on to something when, in the first week, five thousand customers used this tool — and we didn’t even advertise that it was out there. This formed the foundation of our online sales effort.”

He continued, “Our ultimate goal is to deepen relationships with customers by providing added convenience, efficiency, and cost savings, and a wider array of services. The Internet creates an opportunity to move these key transactions online and drive transaction cost to almost zero.”

Does your commerce process resonate with Michael Dell’s suggestion? Think about the last quote. “The ultimate goal is to deepen relationships.” Commerce aspects may reduce costs and increase efficiency, but with a purpose. The ultimate goal is C # 3 which is community.

How important is community, the third C?

According to Mr. Dell, “The final stage is developing an online community. We are building two-way relationships over the web with both our customers and our suppliers.” – Detroit Economic Club.

He went on to express the goal of “establishing communities of suppliers and end users that share common interests”.

At the later conference in the Southwest he ended by observing, “In summary, the Internet is changing the face of the entire economic and social structure of not only this country but the entire world, and governments have a great opportunity to embrace it. We are seeing a transition from a brick-and-mortar government to an online government. The advantages will include things like velocity, efficiency, and a better customer experience.”

The internet has matured since Michael Dell first talked about the 3 C’s, but as a model they still make sense. If anything, community has become even more important. They are not a grocery list to pick one to keep and one to leave.

Today community is so important that it has ushered in a rebirth of web marketing, often called Web 2.0. It depends on social marketing, blogs, myspace and other elements to build that community. Content and commerce both serve the final C of community. It is in community where loyalities, relationships, and trust are built.

Where there is community there are repeat customers. Community-building is a vital skill to have if you want to be an entrepreneur.

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Entrepreneurs are Perfect for the Stock Market

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

Entrepreneurs definitely dont have a monopoly on how to earn cash fast. The dreams of turning small money into a vast financial empire have always existed in one form or another. The global economy and the Internet have created a new genre of entrepreneurs. However, the stock market has always had its own entrepreneurs. The stock market is also full of individuals wanting to experience large returns from a great idea or investment.

Entrepreneurs definitely know how to dream up an idea and act on it, at least the ones who are willing to do the work anyway. These are people who are not content working for a large corporation but instead want to become that large corporation themselves. Entrepreneurs are people who are willing to take sometimes great risks to make more money and see their idea become profitable.

If this describes you or someone you know then you know someone who would probably love investing in the stock market. Investing consists of a good amount of research but also a great amount of guesswork and speculation. It involves taking risks that many times others are too timid to take. These are the people who really make the money in the stock market. Yes they also lose money but they learn from this and move forward making calculated adjustments in their strategy.

Investors are aware of the risks depending on the investment and so are entrepreneurs. However, this does not stop them from taking the necessary steps to riches. Investors sometimes trust their hunches invest in a stock even though everyone else is saying sell. This applies to entrepreneurs as well.

You see, there are so many similarities in investors and entrepreneurs. Of course entrepreneurs can be more associated with higher risk investments such as penny stocks but this is certainly not the only stock they would be involved in. They take on only the risk that is required of them to position themselves for profit. This does not mean that investors or entrepreneurs are crazy. In fact they are just as sensitive about the risks as anyone else. It all comes down to a willingness to do what others are simply too scared to do.

So if you are an entrepreneur then guess what, you have exactly what it takes to make quite the living in the stock market. You have the guts and tenacity to make bold moves at the right time.

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Entrepreneur… What Does it Take?

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

It’s pretty safe to say that virtually any of us would love to be a successful entrepreneur. The trick is getting started on this path to financial security. So many of us don’t even have a clue what we wish to do in life.

This is clearly an obstacle in the road. However, you can go to college and slowly figure this one out. You know, take in some knowledge, attend a few job fairs, and maybe even do some job shadowing. It’s all wonderful experience that can aid you with your future success. After all, you have to begin at some point.

It’s true; I wanted to become a successful entrepreneur by the age of 20. Unfortunately it didn’t happen that way. I was so busy doing nothing that I must have missed the opportunity. I wish someone would have come out and told me that I had to be aggressive, motivated, and driven.

How was I supposed to know! I was merely a kid at the time. Anyway, these are crucial characteristics to adopt if you plan to become a successful entrepreneur. You basically have to know what you want, and go get it. Don’t give up at the first sign of trouble.

This is a mere test to see if you’re worthy. Proceed on and capture your dream. That’s the way all success stories happen. Okay, well maybe except for Paris Hilton. That woman somehow makes oodles of money by just acting glib. Well maybe she’s not acting after all. Regardless, for the majority of us, a good amount of work and dedication is involved to reach the pinnacle of success.

Fortunately you can get tips and pointers from the masters. So if you’re itching to be a successful entrepreneur in the near future, then I suggest you do the necessary recon work first. Hop on your PC or Mac and see what’s up. You can purchase books on how to become a successful entrepreneur. Take advantage of these wonderful sources.

So maybe you’re not quite a successful entrepreneur yet. Don’t fret over this minor issue. It’s time to get your butt in gear. It’s time to brainstorm and decide what the things are you feel passionate about in life. What are you great at? How can you make money with these things? It’s all there if you just think hard and go after it. With the Internet on your side and the world at your fingertips, you too can become a successful entrepreneur.

Business

In fact, in my own experience, participating in online communities has been a tremendous source of business ideas and feedback on development of my products and services. Most of the small businesses looked at in the studies of small business failure have some kind of capital investment.

Until we have a side-by-side comparison of businesses that you can start with, say, under $100 in capital and under $500 investment in the first year (and of course, you don’t have to spend that in most MLM’s), we are still comparing apples and oranges. presidents have a background as business owners.

In case you’re not familiar with it, LinkedIn is the world’s most popular online business networking site, with more than 11 million members, with approximately 1. There are literally dozens of smart ways to use LinkedIn to help you achieve your business goals.

Final Word:

Entrepreneurs are usually self-made people with well-honed egos who truly believe they alone (or with partners) made their business a success. Entrepreneurs create innovation, work out all the bugs, then sell out to bigger firms that can create more value with that asset because they can disseminate the technology more easily.

Entrepreneurs complain they’d have to be Bill-bloody-Gates to raise venture funding, while VCs say they can’t find enough ideas worth investing in.

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Employee to Entrepreneur – Is It You Or Your Employer

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

Today’s article is focused on a reality check. Is it you or your employer? When you think about the success you’ve had over the last several years, was it you or your employer that brought about the money that you have made. Let’s explore that.

One profound realization changed my future forever. I sat in a seminar listening to David Neagle share the incredible realities of success in the business world. He talked about what actually contributes to a 6 and 7 figure income. It was awesome teaching for sure. It was transformational. But one sentence he shared stuck with me and moved me to quit my job. That sentence was “There is no such thing as job security.”

At first, my response was “huh, come again?” You see, I had banked my life on my job security. That paycheck and those bonuses were my security so how could you tell me that there’s no such thing as job security. That paycheck gives me security for sure. It pays the bills. But David Neagle went on to explain that my income was dependent on my skills and talents.

Consider this: Let’s say you lost your job today. You’re fired. And you now had to find a way to earn an income for your family. What would you do? Think about that for a moment. My guess is that you would start making a list of your skills and putting those skills in a document called a “resume.” Most likely, you would take that resume and your skills and sell your talents to another employer. You would have some level of confidence that your skills and talents were employable by someone else. Your faith in your abilities would extend as far as the next job interview or next employer. You believe you can convince another employer to hire you.

But let’s say you’re unable to get a job. No job available anywhere. What would you do? Stop and consider that for a moment. People typically do one of two things. They may become incredibly resourceful in their determination to find creative ways to generate an income. Or, they may become paralyzed by fear. Paralyzing fear robs you of your resourcefulness, your creativity, your ideas, stops you from taking action, and leads you down a path to certain failure.

You see, there is no such thing as job security because YOU are your security. Your skills, your talents, your abilities are what earns you an income. So it is YOU and not your employer who creates an income for you. And you can take YOU and create success anywhere, if you are not paralyzed by fear. You simply must believe in your ability to create success as an entrepreneur equally as much as you believe in your ability to create success in the corporate world. It is that belief that creates your success in business.

Your faith in your abilities and talents must extend beyond an employer. When it comes to earning an income, YOU are your security. So today my question for you is “Do you believe in YOU-security or job-security.” My experience is that YOU-security is tremendously freeing and can become incredibly lucrative when you let go of the fear.

Allison Babb takes exhausted, stressed-out, undervalued yet successful corporate professionals and takes them into freedom of self-employment. Known as the Paycheck Addiction Therapist(TM), Allison teaches her proven 7-step Employee to Entrepreneur Blueprint(TM) for creating the business AND the income you desire. To get started with free information, go to www.goodbyecorporatejob.com.

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Elite Entrepreneurs Network- Choosing The Right Sponsor For Success With Global Resorts Network

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

Choosing a sponsor is one of the most important ingredients for success in a home business or network marketing opportunity, in my opinion. I would say begins with your experience, your desires or outcomes you are seeking, what kind of support you need, and effort you are willing to put out. I also will say that if you ask for the things below you need to commit to your sponsor and yourself that you will do whatever it takes to succeed!

I was fortunate to find the right person as my sponsor. Since that day, only a short period of time ago- we have become very good friends and business partners in the strongest sense. I have other partners in my network that I am having the same kind of relationship with. Remember- you will be working with these people- so take some time to get to know their value system before you join with anyone.

Here are a few questions I would ask prospective sponsors:
* Do you have a written plan that I should follow the first 30-60 days?
*Do I have to pay for a back office?
*Will I get a tailor made website that is made for me with my own picture, email address and phone number?
*Are there webinars and conference calls with real substance that I can bring my prospects to for both the business opportunity calls and the retail membership product?
*Are you available to help me with three way calls with my prospects while I am still learning to help me bring prospects into the business?
*Does your group provide a means to help me do a written business and life plan to help me succeed?
*Is there real, tangible sales training available for those that need it?
*If I am on a limited budget- how exactly would I be able to succeed in this business?
*A strong sponsor should be able to be a strong mentor-so it might be good to ask them about their other business experience, as well.

Finally, with the right sponsor you will be spending time with the person. If they are not asking you about your goals and dreams, or willing to get to know you as a person and what is important in your life, and willing to have a discussion about value systems and how they support their team- I would not join with them, personally. As a sponsor I will be investing my time to help my network partners be successful, and I have found it is much more comfortable when I get to know them as a person prior to beginning any relationship.

These are just a few of the questions that come to mind. In my own interview process I found there were few that could address the questions above.

I hope this helps you!

I will also say this. Any program comparisons extend beyond just the product. There is no question that one has to exert their own effort to succeed. There is also no question a great sponsor, great support, and the right philosophy can assist one in being successful.

Here is the acid test. Ask all the questions above of your sponsor, and go in depth about the product. If they can answer those questions and actually have knowledge of their product also, you will find yourself in a much better place than if you did not!

To your success!

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Eight Habits of Good Sales and Marketing

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

You do not wake up one morning with the idea for an excellent product or service and automatically know the skills required for equally exciting sales and marketing techniques. Like anything else in your life, it is a learning process; one of the best learning tools come from the experiences of already successful business people. For example, experience has told other sales and marketing experts what eight habits will help you reach success in sales and marketing.

First, you must believe in yourself and what you have to offer. If you have doubts, how can you expect your customers or clients to put their trust in you, give you business, and open their wallets? Conversely, if you are confident in your business, your sales and marketing techniques will reflect you confidence and belief in yourself.

Second, have a plan for your success. You can believe in yourself all you want, but if you are ill-prepared, with no plan for the future, you may not have a future in your business. From the short-term goals to the long-term expectation, write down your plan. Write down what you want to accomplish and how you plan to achieve your expectations. Then, stick to the plan. Your business map will help you remember where you are going and exactly how you want to get there.

Third, you must make a good impression. You only have one chance to wow the customer. If your customer’s first impression is anything other than stellar, you are likely to be stuck in the rut of damage control.

Fourth, do not rest on your laurels. You can never learn too much. Invest in yourself and keep learning. New strategies and new ideas are always being implemented. Stay current and grow with your business.

Fifth, a good habit is to develop good communication skills. Learn to listen, as well as speak. Take time to understand what the customer or client desires, then effectively articulate why you product or service will be the answer to a want or need.

Sixth, always use your time wisely. For many people, even in sales and marketing, it can be very difficult to keep your mind on the activities at hand. Before you know it, the workday is gone, and you will have little to show for your labor. Starting a business is often difficult and time consuming under the best of circumstances. Thus, time is at a premium, and you must use it wisely.

Seven, your brain is the best tool you have for good sales and marketing techniques. As technology advances, individuals have become increasingly dependent on the computer and other modern conveniences. What happens if the electricity goes off? Do not be so stuck on technology that your forget to use good, old-fashioned common sense.

Finally, genuinely care about your customers. When you are implementing sales and service for the sole purpose of fattening your coffers, you clients and customers know. Yet, if you genuinely show care and concern for the people who are your business, you will be effective at sales and marketing, while prospering.

In conclusion, if you follow these tried and tested habits for successful personal and professional business practices, you will also find the key to good salesmanship and marketing. Keep learning, keep growing, and keep caring about your clientele. Then, you will be successful.

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Education Creates Attractive Choices: From Climbing the Career Ladder to Planning for a New Career

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

Many people join large successful organizations because they are searching out opportunities for learning, promotions, and stability in a career … especially at organizations that cherish employees and help them develop. Even people who think they might later want to own and operate businesses often value the opportunity to first learn from working at a well-run company. Many such companies encourage their employees to take courses, earn degrees, and prepare for enhanced careers in a variety of other ways.

Such career development can provide an unexpected bonus: The education you gain can help you prepare for a new career if you no longer want to climb the old career ladder … or find something you like a lot better. Carlos O. Laya had both experiences while studying at Rushmore University.

Mr. Laya started his career by enjoying a wonderful job as a laboratory technician at one of the world’s finest and most admired companies. But Mr. Laya longed to work instead with customers as a salesman for laboratory analytical instruments.

To prepare for that potential sales career, Mr. Laya took distance learning courses to master electronics. After that Mr. Laya received and accepted an offer to become a service engineer for a world-leading manufacturer of laboratory analytical instruments. During the next two years, he earned a degree in electro techniques that enabled him to be more effective in optimizing instrument performance for customers.

Mr. Laya was thrilled when his employer bought the international rights to sell, distribute, and maintain biotechnology instruments. He enthusiastically asked for and received the job of being the Swiss sales manager for these products. Now he was where he had aimed to be. Taking courses in selling and instrument applications, his confidence and effectiveness grew. Mr. Laya was thrilled to meet the many professors, Ph.D.s, and physicians who were his customers. Eight happy years of work followed.

A new opportunity arose when Mr. Laya was offered a position selling biotech products in Argentina for his company. Mr. Laya eagerly stepped up to the challenge.

This time meaningful progress eluded him. The value of the Argentine currency plummeted and the office was unprofitable for his employer. Rather than take these losses as a failure, Mr. Laya proposed starting a company to represent his employer’s products in Argentina. But that approach faltered when the economy grew worse in Argentina, and his employer pulled out of the country.

After that experience, Mr. Laya returned to Switzerland and worked as an international pharmaceutical products sales manager.

In 2003, he decided that the time had come to earn an MBA to complement his diplomas in international trade and marketing. He saw the MBA as the key to being promoted into senior management at his current employer.

Having enjoyed his distance learning experiences, Mr. Laya sought a university that could provide a flexible schedule for an MBA so he could study part time while continuing his sales management job. When he discovered Rushmore University, he knew he had found the ideal school for him: Rushmore would allow him to focus courses solely on his planned career development. He also liked the idea of working individually with professors using the Oxford tutorial method to study what he wanted to learn rather than a preset curriculum.

Here’s what Mr. Laya has to say about his experiences with Rushmore:

“With my previous distance learning experience, accustomed to learning at my own pace, anywhere and anytime, I was searching for a university that could suit my continuing education needs. When I visited the Rushmore University Web site for the first time, I was convinced that Rushmore was the right choice … The most important argument that caught my attention was the flexibility it offers you to create your own program and to focus your learning on subjects that will add value to your own personal situation. The faculty consists of selected and well-recognized business people with substantial experience in writing business books, but what is most relevant for business professionals is that the professors have a broad knowledge of the real business world. The learning method — reading books and papers and writing a report or paper to apply your findings — is a highly effective way to learn and understand a course.”

While studying for his MBA in 2005, Mr. Laya lost his international sales management job. After a six-month search, he gained another international sales management job representing products used by environmental companies. This was a new experience for him and made him aware of the many important environmental problems for which solutions are needed.

This new job led Mr. Laya to take two courses related to environmental issues, and he developed a desire to become an environmental consultant. From there, he changed his curriculum to focus on how to establish such a consultancy.

Through those Rushmore courses, Mr. Laya was able to identify what knowledge, skills, and experience he lacked to make such a consultancy successful. As part of his MBA capstone paper summarizing what he learned at Rushmore, Mr. Laya developed a plan to fill in those gaps and to move into such a consultancy within a few years.

As a recent graduate, it’s too soon to report on how that development is going. Perhaps Mr. Laya will follow his plan. Or perhaps in following that plan he will find even more appealing work, as he has done before in his successful career. In either case, his grounding in business management will serve him well … as will his understanding of what it takes for an enterprise to succeed, one of his knowledge bases as a new MBA from Rushmore.

Mr. Laya has shown a great talent for spotting opportunities he would enjoy better than his current work. With his MBA and ability to find distance learning opportunities that fit him and his goals well, Mr. Laya should make rapid progress from here in building on his sound foundation in career planning.

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Earn Money on Ebay: The Most Important Steps For Success

Posted by | Posted in Entrepreneurs | Posted on 23-08-2009

If you are looking for a means to earn money working from home then to earn money on eBay may what you’ve been looking for. eBay is still among the top contenders for easy, fast, profitable start up businesses.

Success is not guaranteed, it never is, but when compared to other business models, eBay is a reasonable challenge for anyone who wants to earn money at home. With all businesses though, prior research can help increase your odds for success.

Many people jump right in by simply picking a product they like and trying to push it off. My suggestion however, is to start by subscribing to eBay’s market research tool for ten dollars a month. You wont earn money on ebay by picking the expensive items first until you know the ins and outs of running a business on ebay.

This tool gives you the opportunity to enhance your selling potential. eBay’s market research tool allows you to search up to 90 days of historical eBay’s listing in order to measure the market or the optimal price the products you sell. This tool answers questions like, “what is the average price of the item I am selling?” and “at what rate do they sell?” eBay’s market research tool can help you determine what to sell.

Using the market research tool you will want to analyze the Sell Thru Rate (STR), the average price per sale, and the total number of sales in the last 30 days. You can determine the STR by looking at the total number of successful auctions and dividing by the total number of auctions for that period. A market that has an STR above 50% and has more than 1,000 sales in 30 days is worth entering. With any business, the trick is to buy low and sell high.

In other words, you want to find markets with lots of demand and little competition and sell the item at a price that will make you a profit. This sounds like a simple concept however, many people struggle when it comes to executing it. Consider your strategy for buying products that will warrant a profit when you mark it up but still has appeal to your market. Luckily you can find wholesalers right on eBay. Most subcategories host listings for wholesalers who sell products in that same category.

This seems like great deal of prep work just so you can work from home but it’s the only way you will earn money on ebay. Getting the research done is crucial to you long term success. It’s what sets apart the fly-by-night businesses from those that are here-to-stay. Before you register for you eBay seller’s account and set up your store do your research. Everything else runs much smoother when you know exactly what you are doing.

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