Entrepreneur

Buying + Selling = Business

Do not let anybody fool you into thinking there is something more sophisticated about business. The whole process involved in any business transaction is simple. Bizarrely however, as simple as it is, some people are better at it than others. Some have created huge empires and made mega fortunes out of it.

Let’s break this down. There are different layers to business or entrepreneurship as it is perceived by us all, but if we drill it down to the core, from the major car dealer to the investment banks and oil companies to the neighbourhood coffee shop, one thing connects them, and this connection is the common thing they all share. They all buy and they all sell and they all do this to make a profit. That’s it! This is the essence of business – buying, selling and making profit.

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Let’s debunk some of these myths

“A myth is a religion which no one any longer believes” – James Feibleman

Let’s tuck into this immediately. Urban myths are some of the things stopping people from going into business or entrepreneurship. There are a few myths about business and entrepreneurship that abound these days but the good news is that I am about to  bust every single one of them. Some of these perceptions are understandable but some are just simply laughable. I mean simply laughable.

The crazy thing about myths is that they always have a way to be translated as fact and are so prevalent in society these days that so many people swear by them, even though they are NOT TRUE. I’ve put together 5 of the most common myths about entrepreneurs and 5 of business people. Are you ready? Lets do this.

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Embrace Every Form of Competition

“A flower does not think of competing with the flower next to it. It just blooms.” Zen Shin

While sitting with another business owner recently, I gleaned yet another piece of advice which I must say is quite important to all entrepreneurs. All the advice i’ve gotten so far is absolutely essential to all business owners as well as aspiring ones; this is why I share them with you lovely people.

Ok, so here goes; competition, of whatever form was a death sentence to many entrepreneurs – myself included. It can happen that you’ve been nursing a business idea and just when you are about to implement it, along comes another entrepreneur who has the same idea and gone a step ahead to launch it. It can also happen that you are already in the early stages of start up or launch and you are in the process of stabilising your business or experiencing some early teething problems and next door the same business (as yours) springs up and probably hit the ground running. This can be quite devastating to many entrepreneurs.

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#2 Do not let other people tell you it can’t be done.

It can be done and if you do it and fail, do it again. This is one of the greatest advice I ever got.

As creatures of habit, entrepreneurs in general want to share their ideas with other people. It could be family, friends or just the dude sat next to you in the bus (well maybe not him). It’s in the core of our nature to inform the world about the brilliant idea that just sprung to mind.

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 The Difference Is Important

It’s National Small Business Week. Hooray! Small businesses are the backbone of this country. They create jobs, come up with new ways of doing old things, and help keep money in the local community. Without small businesses, we’d be in a bigger economic mess.

Among those of us with small businesses, there’s confusion between the terms Small-Business Owner and Entrepreneur. Both can have small businesses, but they have different styles of leadership and thoughts on running their business. One is not better than the other, they’re just different. How do you fit in to these 4 scenarios?

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#1 -Try Everything

This is one of the greatest lessons I have ever learnt in business. The advice is based on years of speaking to experienced business owners. They have proved invaluable in my business journey.

I was with a highly successful business owner who had a class restaurant, a hairdressing salon and beauty centre. A formidable amount of funds had gone into each business venture and it might seem to some that there might be a loss of focus.

The truth is that after a few years, he started struggling. The restaurant haemorrhaged  money and eventually slowed down to a complete still. Throughout these difficult times, the owner focused on his other businesses with a big smile on his face. The restaurant eventually stopped trading and incidentally I was there when it shut its doors to customers for the last time.

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The Entrepreneurs Club – Nobody Can Dream Your Dream For You.

In business, as is in life we all have to ultimately get to a point where we can stand on our own and go it alone.

Regardless of the support system you have around you, friends, family etc. as an entrepreneur, you are the only one capable of actually feeling your dream. Disappointments is an actual organ of life, and as such we must be prepared to accept it happens periodically (or frequently). Yes! things just happen and there is absolutely nothing you can do about it.

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Toxic doubts? I get it, being an entrepreneur is hard. It’s hard to always stay positive.

It’s not all crunchy granola, ooey gooey feel good stuff. How you talk to yourself has been proven in studies to affect your mindset and, subsequently, real world results. Consistent negative self-talk, especially if it centers on your business planning, entrepreneurial ventures and the like can turn a potentially successful venture into a failure — sometimes before you have even given yourself a chance.

This doesn’t mean you have to start making vision boards or saying affirmations to the mirror each morning (though it may not hurt). It does mean entrepreneurs in the making should consciously nix self-talk and replace it with something actually useful.

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 When the world’s richest man offers career advice, it’s smart to listen in order to be successful

If you’re looking for a role model of lifelong success, you can’t do much better than Bill Gates. Microsoft, the company he founded, created a whole industry. At a net worth of nearly $80 billion, he’s the richest man in the world. His philanthropic activities reach far and wide and have actually made the world a better place. Oh, and he also achieved his dream, which was a personal computer on every desk.

What led to Gates’s success? He certainly was in the right place at the right time with the right concept for a product. But over the years, he himself has pointed to some of the attitudes he believes lead to continued success. They’re a good guide for anyone, in any field. The personal finance site GOBankingRates has compiled some of them within a piece about how Gates thinks you should spend your money.

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