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Volume 1, Issue 2
Volume 1, Issue 2
January 16, 2007
By Susan L. Reid MS, DMA
Small Business Start Up Coach & Online Accidental Prenher™
An online newsletter about how to start up and successfully launching small businesses for entrepreneurial women who are ready to transform their lives and make a difference in the world, turn their passion into a profit, and bring in a six figure income.
In This Issue
- Business Quote from Jim Rohrbach
- Do You Have What It Takes To Become a Preneur?
- Branding Bootcamp Teleseminar Announcement
- Q & A From The Accidental Prenher™
This e-Zine is intended to be read in 10 minutes or less, with many of the articles offering links to further information. To ensure we continue to capture the most important issues regarding the successful start up and launch of small businesses, we are keen for our readers to interact with us and let us know what’s on their minds. Speak up and be heard at: Susan@LaunchYou.com
To subscribe to this e-Zine click here.
Note From Susan
Greetings, Fellow Entrepreneurs!
There have been many predictions in the news lately, about the future of small businesses and the timeliness of small business start-ups. One of the podcasts that I listen to on a regular basis is the WSJ on Small Business. It is a short, 7-9 minute podcast delivered weekly on timely and relevant small business topics. I download mine to my iPod through iTunes so I can listen while I walk in the mornings, though you can listen to them in a variety of ways. They can be found at: http://tinyurl.com/yktksz
Since the start of 2007, I have repeatedly heard that never have the times been better to start up a small business and Seth Godin (one of my favorite marketing gurus) was quoted by the WSJ as saying: “The best time to start up a small business was last year. The second best time to start up a business is this year.” That quote was my inspiration for this week’s e-Zine, which asks the question: Do you have what it takes to be a preneur?
Becoming an entrepreneur and small business owner is not for everyone. For many people, the very thought of not having a steady paycheck is enough to put them off. For others it’s the cost of starting a small business, paying for health insurance, social security, and other future needs that becomes too much of an investment and risk. Still for others, it is the stress of working in isolation, lack of knowing where to turn for feedback and support, endless distractions, and being, at least for a time, a one-woman-show that sends them running for the door.
Still, for the fortunate few who feel the call of the preneur, this is about as exciting a time as it gets to start up and launch your new business! Reflect on the business quote of the week and be inspired; recognize yourself in the featured article: Do You Have What It Takes To Become a Preneur; and check out the Q&A section for reader-inspired answers.
Business Quote Of The Week
If it were EASY to start up a successful new business, then everybody'd be doin' it, and then it would be worth the equivalent of flippin' burgers at your local McDonald's — a minimum wage job.
— Jim Rohrbach
For more business start up quotes go to: http://www.alkamae.com/articles.php?cat=50
Do You Have What It Takes To Become a Preneur?
Becoming an entrepreneur is not for everyone.
Besides the wonderful benefits of working for yourself, setting your own hours, and the ability to choose when and where you work, there are also some challenges.
According to the Merriam-Webster Dictionary, the word preneur is a derivative of the Old French, entreprendre, and means to take. A preneur is one who organizes, manages, and takes the risks of owning a small business or enterprise. A preneur is someone who has a vision and wants to take that vision out into the world and see it come to fruition. A preneur is someone who wants to make a difference in the world and is willing to do whatever it takes to make that happen.
Top 10 Characteristics of Preneurs
Fortunately, for those who are considering whether or not to become a preneur, psychologists, sociologists, and historians have been studying the behavior characteristics and traits of successful preneurs for long enough to have come up with a composite list of attributes and characteristics.
Read the list and mentally keep count of how many times you said, “Yes, that’s me!”
- You have a strong desire for autonomy, to be your own boss, and live life on your own terms.
- You are an independent self-starter, not needing or wanting others to tell you what to do.
- You have a powerful drive to make money and accumulate wealth.
- You are a calculated risk-taker with a higher-than-normal tolerance for failure and consider failure a non-issue.
- You like to be in control and call the shots.
- You are highly self-motivated and are indefatigably fearless when it comes to getting the job done.
- You had childhood experiences as a budding entrepreneur and/or entrepreneurial parents, grand parents, or relatives.
- You have a high level of energy that is sustainable over a long period of time.
- You are creative and innovative, a strong decision maker, and able to think quickly on your feet and set things in motion.
- You are a big-picture thinker capable of seeing how everything relates to each other.
So, How’d You Do?
How many "yes, that’s me!'' answers did you have?
- 1-3: Don't quit your day job.
- 4-7: Call a coach, start saving start-up money, and get the gears in motion!
- 8-10: Watch out, Donald Trump!
Entrepreneurs are extraordinary people. They value freedom, autonomy, independence, and control. They are creative, driven self-starters, who have plenty of good ideas and are ready to do what needs to be done to make things happen. They have courage and conviction in spades and don’t see failure the same way that other people do. To them, what lies within failure is the answer to what they need to do in order to become a success.
Preneurs understand that they ARE the business. They are its originator, its motivating force, its drive, and its energy. They are remarkable in their inner toughness and strength that aids them in rising above self-doubt, apparent failures, and the din of their critics.
Being an entrepreneur is what we are all about, folks.
To read the full article on Do You Have What It Takes To Become a Preneur? go to: http://www.alkamae.com/content.php?id=154
Successful Small Business Start Up Teleseminar Series
Branding Bootcamp I
Hit the Marketing Bull's-Eyewith a Well Written Vision and Mission Statement
February 14, 21, 28, & March 7 at 3p ET
Know that you are so ready for a branding Teleseminar and are ready to sign up? Click here: http://tinyurl.com/yhe3yx
So what’s the big deal about having a vision and mission statement?
+Articulating a vision and mission for your business is one of the best things you can do to ensure its growth.
+Vision and mission statements convey the core beliefs and values of your business, and give your business a template of purpose that can be used to initiate, evaluate, and refine all your business activities.
+They are a part of every small business’s business plan and can guide your company through thick and thin.
Join me for a FREE 1-hour preview call on how branding, positioning, and promoting works, and how you can hit the marketing bull's-eye with well-written vision and mission statements. Click here for more information: http://tinyurl.com/yhe3yx
Ask The Accidental Prenher™
Q: One of our readers asks: What is a sole proprietorship?
A: A sole proprietorship is a business owned by one person with no formal legal structure.
The vast majority of small businesses start out as sole proprietorships. These small businesses are owned by one person, usually the individual who has day-to-day responsibility for running the business, and that individual owns all the assets of the business and the profits generated by it. That individual also assumes complete responsibility for any of the businesses’ liabilities or debts. In the eyes of the law, the owner is the business.
Advantages: In a nutshell? It's simple! Just start your business; there's no additional paperwork. You don't file corporate income taxes -- just a Schedule "C" with your personal income taxes.
Disadvantages: You have no personal liability protection. If your business is sued, you are sued. That means you could lose everything you own -- and in some cases, your spouse could lose his or her assets also.
Disclaimer: I am neither an attorney nor accountant and am not qualified to give you legal advice. If you are starting up a business, it is important for you to contact qualified law and tax experts and seek their advice.
Do you have a burning “how to” question about starting up or launching your small business? Email me at Susan@LaunchYou.com, and I’ll answer it in my new Small Business Start Up Blog and upcoming LAUNCH YOU e-Zines!
That’s all for this issue, folks.
Until next time, happy launching!
Susan L. Reid, MS, DMA
Small Business Start Up Coach & Online Accidental Prenher™
At Alkamae we specialize, not generalize, by launching successful small businesses one woman at a time.
p.s. Below are the “Hot Links” to our most frequented and requested sites:
Small Business Start Up Coaching for those who are ready to partner with a small business coach and position your new business for success: http://www.alkamae.com/product.php?id=74
Link to our Ready To Launch Power Pack Combo that includes our free e-book Are You Ready To Jump The Corporate Ship? Here’s How To Know! This free e-book and accompanying audio will lead you, step-by-step, through the process of deciding whether you are ready to jump the corporate ship and embark on the magnificent journey that will lead you to set-sail on your very own entrepreneurial ship.
Recommended reading for successful small business start ups: http://www.alkamae.com/resource-links.php?id=16
The Fine Print
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LAUNCH YOU! ISSN# 1935-0473
Copyright ©2007 by Susan L. Reid, MS, DMA. All Rights Reserved.
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