replace the damage the long years of living an imbalanced lifestyle did to their health and relationships.
Capital - A second factor has to do with the way small businesses are easy to capitalize. Money is readily available. This view is supported by a leading Venture Capitalist, National Venture Capital Association, who estimated that initial funding for new ventures nearly doubled in 2005, expectations are that will increase with another 100% again over 2006.
Small business really is Big Business nowadays!
Who Are All These Entrepreneurs...Unexpectedly, based upon research concluded by Robert W. Fairlie from the University of California who studied data from the U.S. Census and related sources, the largest share of new business starters is represented by people over 45 years old: about 65%. Entrepreneurs in age group 20-34, however, are catching up fast since 4 years. Further investigation of data provided in the same report reveals that 30% of entrepreneurs are actually people without education levels any higher than high school (2005).
It is a sad fact that about 33% of all companies fails within 2 years. This is a percentage that has been used in the investment community as a rule to work with. On the top of the list of problems: misaligned leadership and market focus.
Entrepreneurial Leadership becoming a Key Factor1- We can see that a lot of people who are starting as an entrepreneur have plenty of working experience and seem to fall in the age category of the baby boomers.
Just imagine all these people coming out of a job situation nowadays. If that is all they have been doing their entire life, they need help. Not only with the setup but mostly with their mindset and attitude to personal responsibility. Here is the opportunity for the leaders in this field: provide the experience and information to make them successful as well. To move from an 'entitlement mentality' to becoming self-reliant is the topic of a best-seller by Trump and Kiyosaki: Why we want you to be rich.
2- Secondly, many people seem to be starting a business without education. Same thing. They most likely can benefit from simple, proven, easy to learn methods to get their business up and running.
Just imagine, if you establish yourself as a leader in this field you will be able to contribute meaningfully to many people's life as long as you live! How great is this, how rewarding, and how different from slaving away in an office cubicle until you reach your future retirement age of 70... If you believe with me that there is something greater than cash, I am convinced that this is what gets me motivated.
How Business BurnsI decided to use the following analogy when training new entrepreneurs to get started:
View your businesses like small fire producing the heat to drive an engine generating revenue for you from output. A system working according to fixed rules.
There are 2 variations:
Either you provide the engine (your new business idea supported by a business plan) or you use a readily set up engine that has been proven to work for your purpose (revenue generation). In the latter case, all you do is set it up, start the fire and keep it going.
A business needs 3 primary ingredients in balance to produce revenue:
1. Cash flow (the fuel) - have enough available to keep your business going without having to scale it down too much risking the engine to stop.
2. A steady flow of fresh leads (the oxygen). Keep finding people who will benefit from the output of your business. Like oxygen, customers are everywhere.
3. The passion (the heat) - Do something that is meaningful to you and to others and be passionate. Network with like-minded people to share ideas and thoughts. Join a business forum and get plugged into training programs.
Successful lifestyle entrepreneurs maintain a balanced focus. They pay attention to the right combinations in business and in life. They keep the fire burning naturally and enjoy the rewards, the lifestyle and the joy.
Have a great day!
Article Source: http://www.articles-galore.com
Lifestyle Entrepreneur since 4 years and committed to coaching others and giving them access to everything I know.Many years successful as business development executive for various international corporations. Got tired from inefficiency and office politics.Already helped many people finding their path in life and work situations with concrete jobs, opportunities and experience I've learned along the way. www.lifestyle-entrepreneur.net
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