Entrepreneurs are risk takers and dreamers. The difference between the dreamer and the entrepreneur though, is that the entrepreneur takes actions based on their dreams. They persist through the hardships and never give up! Many entrepreneurs start with an idea. Their success is determined by their belief that they can create something greater than simple monetary success. Often, it is about creating something which will benefit the world.
James Dyson, for example, came up with the idea of the bagless vacuum cleaner. Despite multiple set backs, over 5000 prototypes and not being able to get any manufacturers or distributors to accept his idea, he persevered. It was over a decade after his initial idea when his concept came to fruition. Even then, it was after a lot of difficulties and hardship due to the vacuum replacement bag industry, which was worth £100 million in the UK.
In Simon Sinek’s book ‘Start With Why’, he suggests that the biggest companies in the world are so because of their “why?” – their reasons for building a business in the first place. In all cases, it wasn’t just to make money, or make technology better, or some whimsical ideology.
Asset misappropriation is the type of fraud that involves a member of staff who uses their position to take from their employers. This fraud is often committed by those trusted to manage the interests and assets of a company, which can include board members, employees or directors.
This type of fraud activity can include theft of company formulas, patents, or sensitive data, theft of credit notes or vouchers, inventory theft, theft of money or check forgery.
Any company that suffers from asset misappropriation will experience cash flow issues in some form. Plus, it can also have a negative impact on staff morale and the company’s reputation. It is believed that over 90% of business fraud is related to asset misappropriation which makes it by far the most common issue. On average, the lost from this type of fraud is in the region of $150,000 per case.
Bribery and corruption
Bribery and corruption is the next most common issue related to fraud in a business environment. Even though this type of fraud is less common than asset misappropriation, the average cost of a bribery scheme is significantly higher, and likely to exceed
Everybody can get benefits buying wholesale products because they have a low price. It is a good procedure for smaller shops because they can save money buying items to suppliers. But not only business people can buy in bulk. The only rule to buy in bulk products is to respect certain amounts of things. The wholesalers desire to sell the huge amount of items in order to win more money and then retailers or particular can sell it at higher prices.
Dealers are more interested in purchasing in bulk because they can buy all they need to one distributor. It is really difficult when you need to buy things from different suppliers because sometimes they don’t have enough merchant. However, wholesalers ease this process that retailers can get products easily. It helps to save time and money.
People who deal with distributors have vast differences in merchandise. So, if you are interested in buying there, make sure you will have to choose among million of product.
Distributors can negotiate lower prices with the manufacturers in order to receive discounts or coupons. They can reach an agreement taking into account the number of products
- Look inward. We were put on this planet with gifts, talents, a perspective that no one has. It’s our obligation, our duty, to find out what that is, to do that. Loving, serving, or giving or all 3 is why we’re here.
~Prince Ea, rapper, filmmaker, speaker, activist
- Don’t wait. Get started. Be brave and jump. But admit when something’s not working. You’ll find a way around obstacles.
~Kate Groch, educator & changemaker
- Don’t see your business as separate from your spiritual life. Business plays an important part in the world today, so it’s important to recognize your ethical responsibility. How will their life be affected by your business? Positively? If you take care of that domain, if you water those roots, blossoms will emerge.
~Marianne Williamson, spiritual teacher, lecturer, author (& all-around sage)
- Put your creativity first. First in the day. It only takes 10 minutes a day to play with what it is that I love most to do. It may not look like anything to do with your business. It will open more magic for you than any single thing you can do.
If You Are on a Budget
If you are short on budget, you can go for a free invoice software application. All you need to do is make sure the app has all the features you need to put together a professional invoice. Also, avoid buying an app that has unnecessary features. Dealing with too many features will only confuse you making your job harder.
Go for a Simple Invoice Software App
The invoice software should let you format your invoice the way you want. Apart from this, the app should have some great templates as well. Good apps allow you to save your progress so you don’t have to start over in case of a system or power failure.
Set Some Rules
When you have to deal with your clients, make sure you set some rules in the first place. For instance, you may want to let your clients know the payment form, due dates and the percentage of advance payments. Besides, the terms about delayed payment should also be informed to your clients. This will help you carry out your business affairs as smoothly as possible.
First, money is important, but not everything in life. You will have to learn to take the losses in stride. It is easy for anyone to preach. Nevertheless, one can reduce stress by having an open mind. This open mind allows us to absorb the losses as part of life. If you manage to do this, you have won half the battle against stress.
Ascertain the facts
When you are suffering losses, something has gone wrong somewhere. It is advisable to ascertain the facts and analyze your mistakes with a cool head. This will enable you to plan well. When you realize your mistakes, you will not repeat them. Thus, you can find ways to beat the stress.
Identify the cause of the stress
Stress can be of two types. When you start worrying about things you are afraid of or do not wish to happen, you accumulate ‘Bad Stress’. At the same, when you stress over real issues, you experience ‘Good Stress’. Distinguish between the two stresses and prioritize your fight against stress. This will make your life easier.
Take the advice of experts
When you take the
Business coaching, therefore, can be defined as a process that can be applied so as to move a business from its current position to where the owner envisions it to be. What a business coach does is to offer guidance and assistance to the owner in view of business growth, helping in the clarification of the business vision and how exactly it can fit well with the personal goals. This is a very important step and should be a point of focus.
Business owners should be made to understand the importance of reaching their goals for the business and how it can affect them personally. The business owner is responsible for the determination of the passion and speed in which goals are met. When the business owner has a passion for reaching a goal, he will be more determined to make it work by all means.
Usually, a coach will get to know the business owner desires and this helps in the prioritization of the goals and strategies that need to be put in place. It is the work of the coach to meet you with the owner on a regular basis so as to ensure
Passion, then, is the key ingredient between throwing in the towel, or getting up to fight the next round. There is a refining moment where every business owner goes through intense heat. This heat can either polish you or finish you completely but it all depends on the level of passion in the business.
To always keep your goals ahead of you is tough when everything is bursting at the seams. This is why asking questions is a survival skill.
“Why am I doing this? What works? What doesn’t? What can I do better?”
These questions tackle the level of passion you are carrying for the business. Sometimes, answering these questions may make you revisit exactly how you ended up in that business. This in turn focuses on your motivators. They are the little coals that keep your passion alive. They make going through the grime seem worthwhile even though the outlook seems bleak. As long as you keep asking these questions, you automatically take your mind to your motivators. That’s why challenges really should never worry you, but dwindling passion should ring alarm bells!
So, when passion starts to dwindle, simply repeat the