Baby steps to the entrepreneurial mindset

Posted by admin in Entrepreneurialism on Jul 10th, 2010 | 0 comments

How many times does a baby fall and get up again and try walking again and fall again and the get up again and fall, and up, and fall and up? All until they finally learn how to walk so well, that they’re running and skipping along like walking is part of their second nature already. Have you counted how many times it takes to do that? Probably you would have lost count anyway after several hundreds!

 

The baby never gives up! But we do! We give up so easily every single day in most of the things we do, we even think of failure before we even start to do that one thing we have in mind.

 

It’s time to learn from the little babies you see everywhere around us. Look at how happy they are to learn a new thing and every time they fail, they laugh or cry for a second then they completely forget about it and try again! Maybe for them is not trying again, just doing again. They forget they’ve done it before and failed, they don’t seem to understand that part, but they do seem to learn from their mistake and apply the lesson next time around.

 

How come we don’t do that? How did a baby get to have more confidence and courage than a mature person? Aren’t we supposed to be the adults here? Aren’t we supposed to be their hero, their superman and superwoman?

 

We seem to be born with an entrepreneurial mindset, but lose it somewhere along the way. It’s probably because we start caring and allowing all that envious criticism all around us to sink into our brain.

 

To have an entrepreneurial mindset is to be successful in anything you set your mind on doing. You have to be able to identify or create an opportunity and then definitely take action aimed at making it reality.

 

It’s usually not that hard to figure out the first part. We can identify our problems quite well and complain about them all day long, but the second part where we’re supposed to take care of them, do something about it, that’s where we’re usually lacking.

 

If you want to be successful stop complaining and start doing!

Investment Potential Of Ukraine (Lviv Region Focus) By Business Support Center

Posted by admin in Investment on Jul 10th, 2010 | 0 comments

Europe’s largest country by area, Ukraine combines the advantages of the longest border with the EU, some of the richest agricultural lands in the world, large and growing domestic market, as well as skilled workforce with labour rates of one tenth of the European average. The location of Lviv oblast on the crossroad of trade routes from Europe to Asia as well as from Scandinavia to South lands provides the access to 100-million consumer markets of Ukraine, Russia and other CIS countries.

Attractiveness of Lviv oblast is ensured by:
- dynamically developing market,
- highly educated and skilled labour force that easily adapts oneself to market requirements (150 thousand students graduate from 62 higher educational establishments located on the territory of Lviv oblast annually),
- significant share of modern industries in the economy of the oblast, increase in the amount of innovation enterprises, wide network of research institutions,
- developed telecommunication infrastructure,
- modern market of financial services,
- low-expense production base and rich recourses,
- International airport “Lviv” as well as transport corridors that run through the oblast’s territory,
- unique charm of Lviv city, which is included in UNESCO World Heritage List, and lots of recreation opportunities,
- ancient traditions of trade with Russia and countries of CIS,
- implementation of a number of international development programs in the oblast.

Priorities of Regional Development

The priority task of the regional state authorities and local self-governments of all levels is to increase investment inflows to Lviv oblast. The Investment Program Welcoming Investors was adopted in the region. The regional Investment Program will provide achievement of the four following goals of the Strategy of Lviv Oblast Development 2015:

1. Lviv oblast is a region of sustainable economic and entrepreneurial development.
2. Lviv oblast is a gateway of Ukraine into the EU.
3. Lviv oblast is a region of highly qualified people, innovation potential and technologically advanced companies.
4. Lviv oblast is a region of clean and attractive natural environment, culture, tourism and recreation.

The investment policy will be based on the well-defined partnership of the state and private sectors and realized taking into account the following principles:
- providing investors with the equal rights and terms for investment activity,

- providing investors with guarantees against non-commercial risks (deterioration of investment terms, caused by the actions of state officials or local regulatory documents),
- matching potential investors’ interests and tasks of strategic economic development of the oblast,
- improving investment infrastructure,
- promoting Lviv oblast on the investment markets.

Preparation for Euro 2012 Final Tournament and creation of the possibilities for the implementation of wide-scale and small investment projects are the primary tasks of the Investment Program.
The information for investors including propositions of land lots, unfinished construction and other investment projects is available at the official Internet Portal of Lviv oblast. www.invest.lviv.ua

Priority Investment Projects
1) Reconstruction of International airport “Lviv”
International airport “Lviv” is an air junction in Western Ukraine that provides air transportation between the city of Lviv and regions of Ukraine as well as the whole world. 100 thousand passengers and approximately 40 tons of high value cargo run through the airport annually. The airport is included in 2nd geographical zone of the world air space. The Austrian company Airport Consulting Vienna worked out the concept of International airport “Lviv” development. Modernization of Lviv airport was also included in the State Program of Preparation for the Final Tournament of Euro 2012 Football Championship. The project cost USD 166.1 million, including investor’s contribution of USD 97.2 million.

2) Construction of a stadium in Lviv
A brand new stadium is planned to be constructed in Lviv within the preparations for Euro 2012. The new stadium will be favourably located 12 km from the city centre, near the hugest residential area within the transport corridor # 5. 25 hectare land plot has been opted for the construction of the stadium, its infrastructure together with car parking. According to the project plan, the stadium will be able to host 40 thousand people and that will allow to play quarter-final games. The project of the stadium was developed by the German company HOCHTIEF. The construction of the stadium and its infrastructure requires USD 290 million investments.

3) Construction and maintenance of Lubelska Mine.
Lviv oblast is rich in coke. The project foresees extraction of coal with the help of highly effective innovative technologies. The coal from Lubelska Mine is eligible for carbonization and belongs to the most valuable sorts of “K” mark. Its reserves are reported to be estimated at 86 million tonnes. After the completion of mine construction there will be partly national deficiency for cock coal reduced. General need for investment is USD 400 million.

State and Dynamics of Investment Processes

The trend of stable investment inflows to the oblast’s economy is observed:
- for the 9 months of 2007 foreign investors invested USD 164.7 million and that is 2.2 times more than for the corresponding period of 2006.
- the total investments in Lviv oblast made up USD 653.2 million. By the volume of investment inflows in Ukraine Lviv oblast belongs to the 10 most attractive investment regions holding 8th position, among the western regions it is ranked as the most attractive investment area.
Currently 61 countries successfully invest in Lviv oblast. The most significant investments come from Poland, Germany, Denmark and Hungary. Foreign investments were attracted in 1206 companies of Lviv oblast. By the number of the companies that received foreign investments, Lviv oblast holds the 2nd place after the capital of Ukraine Kyiv. The largest investment inflows were directed to the basic branches of the oblast’s economy as well as its banking sector.

The following cities and rayons of the oblast were the most active in attracting investments:
- the city of Lviv – USD 425.1 million or 65.2% of the total volume of investments (Laura Ltd. (Italy) – clothing manufacture, Subsidiary Gangso Ukrayina (Denmark) – furniture production, Merkuriy Ukrayina Ltd. (the USA) – transportation services);
- Stryy Rayon – USD 52.3 million or 8.0% of the total volume of investments (Leoni Waering Systems UA GmbH (Germany) – automobile wire systems production, Halychyna Zakhid Ltd. (Germany) – pig farming);
- Yavoriv Rayon – USD 35.9 million or 5.5% of the total volume of investments (Provimi Ltd. (Poland) – production of fodder, Yevroshpon Ltd. (Spain) – wood processing).

The highest rates of investment resources increase are expected in the following areas: production of details for machine-building industry, production of packaging materials and plastic items, agriculture sector, cargo and passenger transportation industry. Significant investments are expected in the development of the construction sector and production of modern construction materials. In 2008 the financial and banking industries will be developing as well.

Home Based Business Tips – Three Reasons To Outsource Your Businesses Accounting Needs

Posted by admin in Business Books on Jul 10th, 2010 | 0 comments

When you have home based business you have to fill many roles in order to keep the company moving. One in particular is the role of the company accountant or bookkeeper. Many businesses use QuickBooks to handle their accounting needs as do I. The benefits of using QuickBooks are endless. Mainly the program provides an easy way to invoice your clients and keep track of your accounts.

However, there is a learning curve using QuickBooks to its full capacity. Also, you want to spend their time doing what’s most important business and that’s taking care of your customers. So if you can budget this, you will see that there are benefits outsourcing your book keeping. While I recommend that you perform the invoicing yourself, I recommend outsourcing to a book keeper for the other accounting tasks if your business budget allows.

Here are three very good reasons why you should consider outsourcing to a book keeper.

First of all it saves you time and energy. Depending on the size of your business, it could save you a few hours a week. Could you imagine having a few extra hours a week? So here’s how they save you time.

Most book keepers instruct you to keep all of your receipts and they post them for you when you send to them. While you want to view reports of your finances, you want to have the book keeper do the leg work by posting payments, receivables and organize and categorize your business according to the accounting software they use.

Most book keepers ask you to submit your materials monthly, bi monthly or quarterly. It depends on your business and the volume of transactions you have. Most work with QuickBooks and categorize all of your transactions in the software itself.

The second reason is you can focus on being the best at your trade and helping your customers. Remember you are offering a service and you need to be better than your competition. So why spend time on something that doesn’t make your business better?

For example, you know every detail of the product and service you provide to your clients. You’re considered a professional and are expected to know the latest trends in you industry. You can expect the same from the book keeper and you don’t have to learn every detail of their trade.

Finally, the book keeper is able to provide information to your CPA to file taxes or they can help you file your taxes.

If you are using Quick Books you are provided with many robust reports to help you file you taxes. The book keeper will be able to provide assistance and advisement.

Whether you use a CPA, your book keeper or yourself to file your businesses taxes the bookkeeper builds and provides the financial snapshot of your business. The bookkeeper then becomes a valuable resource to your business.

When you are always pressed for time to get your projects completed, it may be best to out source your businesses book keeping needs to save you valuable time.

Entrepreneurialism: Seven Unnecessary Traits

Posted by admin in Entrepreneurialism on Jul 10th, 2010 | 0 comments

When you are working to establish your own business you may believe certain things to be true about entrepreneurialism. While some traits may have merit there are other traits that may not be as necessary as you might have imagined.

Leadership Skills vs. Personal Drive

Interestingly, leadership skills are less important than personal drive. In most entrepreneurial efforts the seeds of an idea are cultivated by ONE not MANY. In the end if you believe in the idea you do not need the ability to lead others to pursue your dream.

Money vs. Dream

Entrepreneurial efforts are often about achieving a goal and less about making ‘money’ the primary goal. Certainly if you do your job well the money is likely to follow, but your efforts should be based on your dream first.

Power Broker vs. Average Joe

An entrepreneur does not need to pursue power in their business pursuits because they already possess the power they need to step out and follow their dream. In effect, an entrepreneur answers to themselves so, seeking personal power makes little sense in entrepreneurial efforts.

Extrovert vs. Introvert

You may find it interesting to learn that many introverted or shy individuals actually do well in many entrepreneurial endeavors. If you are outgoing it can be helpful to your overall goals, but the Internet has made it possible for introverted dreamers to find a place to let those dreams thrive.

Gamblers vs. Methodical Planning

Becoming an entrepreneur is often thought of as a gamble, however many entrepreneurs are better served by making careful plans and exercising proven strategies to minimize the chance of failure. Entrepreneurialism is not so much about throwing caution to the wind as it is about taking a dream and finding ways to make that dream a reality.

Organization vs. Creative Thought

You may find it interesting to note that some of the best business owners are not especially organized – it takes away from their ability to create new ways to make their business better. This is why you usually find these individuals with a quality assistant as the business grows. The end result is a mind that can envision where the business needs to go and steps over the pile of paperwork to get there.

As you take a look at the list you find that leadership skills, money, power brokering, being an extrovert, being a gambler and having strong organizational skills may not be as necessary to the role of entrepreneur as you may have thought.

So, with those excuses out of the way, what prevents you from following your dream?

Online Success Simplified: 5 Must-have Tools for a 6-figure and Beyond Business

Posted by admin in Business Checklist on Jul 10th, 2010 | 0 comments

In building and growing an online business, or one with a strong online component, there are several must-have tools which will allow you to not only have passive revenue, but to enjoy multiple streams of it.

Here’s a quick rundown of the most basic tools (there are other, more advanced tools which will be covered in a separate article):

1. A Shopping Cart.

An online shopping cart allows you to sell digital products, have them automatically delivered to your clients and automate the follow-up so you’re not sending emails all day and night.

I use and highly recommend KickStart Cart as an all-in-one shopping cart and autoresponder service. The Pro Version is $99.00/month (U.S.). If you’re not yet offering products, you can get the Starter ($34/mo) or Basic ($59/mo) versions.

And in order to easily accept MasterCard, VISA, American Express and Discover Card, you’ll want to link your shopping cart with a merchant account using a payment gateway.

2. An Email Marketing System/Service.

An email marketing system allows you to send ezines, solo e-mails and contact your prospect list whenever you wish.

While you can, and many people do, use your shopping cart for this, I prefer to use a separate system (due to deliverability issues) and use Constant Contact.

I continue to test deliverability between Constant Contact and Kickstart Cart (which is one of the 1ShoppingCart brands – they all have the same issues) and, for now, remain with this choice.

3. A Website, Blogsite or Other Opt-in Page.

In any online business, your primary goal is to have ideal prospects sign up to your list so they can receive your ezine and other information.

The way to make this happen is by placing an opt-in box on a website, blogsite or single opt-in page.

The one you choose is completely up to you as all have been proven successful. The nice thing about a blogsite is that you can get it up and running quickly and inexpensively and your hosting is usually included.

If you’re doing it yourself, I recommend TypePad for blogs/blogsites as it’s easy-to-use and has responsive support staff.

4. An Incentive to Sign-up.

People are busy. We all receive too much in our email inboxes these days and will only part with our information if there is something in it for us: a special report that we’re interested in, an audio series which will give us new information, a checklist that would be handy to have.

You need to have some incentive on your website/blogsite/opt-in page in order for people to part with their names and email addresses.

The report/audio/checklist is WHAT you’re giving them. Your ezine? It’s the bonus gift they receive as a result of requesting the report.

5. A Mentor.

If you’re starting out or currently stuck in your online business efforts, you will want to strongly consider partnering with a mentor who can keep you focused and accountable while guiding you through the distractions (and there are MANY!).

You’ll want to chat with a few different people to see who you best resonate with.

The time and money spent with a good mentor will save you hours and thousands of dollars in learning and mistakes, not to mention how much sooner the revenue will start coming in!

The above is by no means a complete listing of everything you’ll need in your business, but these 5 tools will see you WELL on your way to a 6-figure business.

The next item? You’ll have to wait for the next issue for that!

My Request to You

If you’ve read the above and are shaking your head saying “I’ve done/have all of the above and STILL nothing’s happening”, then it’s time to reevaluate:

Is your Incentive something your ideal client is interested in? If you’re getting lots of traffic to your site, but no one’s signing up, the answer is “nope”, or you’re not presenting it correctly.

Is your ezine providing information and content which is relevant to your ideal clients? If you’re seeing a lot of unsubscribes, it’s time to revisit what you’re doing.

Do you have a mentor (or coach) who gives you broad strokes, but doesn’t provide the actual steps of what you need to do when in order to move forward? If so, you need to ask if this is the right person for you at this time.

You, and only you, control your business and your level of success. What do YOU want and how much do you want it? The right tools will get you there so much faster!