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Exploring the Ten Habits of Being a Successful Entrepreneur

Winning as an entrepreneur depends on embracing certain best practices.

The sports world is full of examples of athletes who credit their success to winning habits. They might be the first one to practice and the last to leave, for example. Or they might have a specific athletic trainer they work with in the off-season.

Personal success can also benefit from winning habits as Steven Covey illustrated in his monster best-seller, The Seven Habits of Highly Effective People.

The same certainly holds true in the world of entrepreneurs. Those who establish and maintain good habits will enjoy boundless success. I recently thought about the habits that have led to my success as well the success of other entrepreneurs and sought to put pen to paper. Here they are:

Take action: I’m sure no one is surprised that this is my opening salvo on the list, given my affection for the mantra of “Ready, Fire, Aim.” Nothing gets done or goes anywhere unless one acts. Make this a daily practice, not only when it comes to starting a business, but also in your daily execution – selling to prospects, identifying partners and expanding into new markets.

Use Google Docs or some other file-sharing service: Gathering all material from every imaginable source and placing it all in a Google Docs folder is a successful habit. This keeps one’s project(s) at “top of mind” and allows easy access to all pertinent material and info on one’s project(s). This is true collaboration at its finest.

Wake up early: Even if you don’t go to the office, assemble your thoughts in as peaceful an environment as possible over your morning coffee (or tea) and let your mind decide what your priorities should be for that day and beyond. If you can, partake in some morning sun before you go to work. Studies are increasingly showing that it can promote restful sleep later that night.

Prioritize: There are some tasks we are excited about and some we are not. It’s human nature. That’s why it is important to list them in order of priority, and go down the list in that order. It’s the perfect way to make your business a priority and not let unfounded fears or ego interrupt that success.

Be willing to listen and learn from others: This is especially true if they have experience in your industry or an area that you want to expand into. Too often, we reside in a bubble, thinking we have all the answers. We don’t. Everyone has something to offer, and we cannot remain isolated in our thinking. What’s more, I recommend that with everyone you meet by chance, consider what you might learn from them. This is a great practice that will serve you well down the road.

Read everything related to your industry: Whether it is The Wall Street Journal, or Entrepreneur, there is something for you to take from every issue that is relevant to your business. This doesn’t stop with traditional media, either. Track posts on LinkedIn and your competitors’ blogs, too. Get your hands on relevant information, so you can make the best possible decision.

Set up calls with other entrepreneurs you respect and can learn from, even if they are not in your business: You never know when one of their successful habits might work for you and make you a more polished entrepreneur. Act like you are a reporter, and ask them what has been the secret to their success.

Be nice to yourself: Spoil yourself with a walk in nature, or get a deep tissue massage or maybe a leisurely brunch. You work hard. If you don’t take care of your body and soul, no one else is going to do it for you. Take time to recharge your batteries. This is a great way to stay on track and take your business to the next level.

Bring your valued employees and contractors to you: As the pandemic has shown us, we can work remotely and execute as needed. But there is no substitute for bringing your team together every now and then. Some of the best ideas will emerge in face-to-face communications at the office, and even better, at a leisurely dinner. This also holds true for customers and clients. Create a gathering for them, and learn what makes them tick, so you can take those learnings and attract more such customers.

Use other people’s money, if you can: What I have found, is that you will run out of your own money long before you run out of great ideas that need capital. Money is cheaper than ever if you are willing to go the unconventional route or embrace the alternative funding community. Be open to it.

Source: https://www.entrepreneur.com/article/423658

The Secret to Pitching Your Business Plan in Just 10 Minutes

This outline breaks down a business plan pitch minute by minute so you can stay on topic and build the necessary interest and excitement.

Delivering a good pitch is as much about conveying emotion as conveying information. If you get the opportunity to pitch in front of a live audience, both of those objectives should be top of mind. The phrase, “They don’t care what you know until they know that you care,” is sage advice and is the basis for starting a 10-minute pitch.

Startups are hard work. If you do not particularly care about the market or the problem you are solving, you may bail out when the going gets tough. Investors need to know this is more than just a business.

Minute 1: Personal Introduction

Let the audience know that you, personally, care about the people and the problem you are trying to solve. Use the word “I” instead of “we.” I know you are representing your team and your company, but for now concentrate on establishing your passion and commitment. Tell a quick, personal story about how you stumbled upon the business you are pursuing and what made you realize it was where you wanted to focus most of your waking hours.

Your slide(s) should be simple. They are just there as a backdrop to your opening monologue and should make you look good. I, personally, like to show photos of me and/or customers experiencing the problem first-hand. The focus should be on you and your message.

Transition out of the personal introduction into the overview of the problem you are trying to solve. Your job is to describe the problem as one that goes well beyond just you and your experience. A nice phrase is, “When I started looking around, I realized that I’m not the only one with X problem. Lots and lots of other people have it too!”

Minute 2: The Problem

Remember to keep an emotional appeal included in your description of the problem. People with this problem are: struggling, irritated, angry, disenfranchised? Keep human emotions real. Break down the problem into its component parts accompanied by a diagram.

Your slides during this minute are simply visual aids that help explain the problem. Like in the introduction, photos can express the human factor, but diagrams can help explain how the problem is experienced by people.

Minute 3: The Solution

At this point, you are going to maximize the crescendo. Show excitement and passion for your businesses solution. Transition to “we” instead of just “I.” Walk the audience not only through how the solution works, but also through the great benefits of the solution.

You need to position your body in front of the room and make it as big and bright as you can with big arm movements, a bright smile, confident voice and lots of eye contact. The audience should begin to share your excitement for your business.

Your slides are visual aids and diagrams. They should contain little to no text. Keep them simple as possible as complexity will only suck the energy out of the room. You don’t have to explain everything your company does, just the main points. Remember, you only have 10 minutes.

It’s good to show images or screenshots of existing products or beta releases and other hard evidence of your execution, but overexplaining the solution will make the presentation less compelling, and it will take too long. You want to leave the audience wanting more.

Once you have your audience feeling great about the solution, it is time to talk money.

Minute 4: Business Model

There are several money-related topics you’ll need to touch on during your pitch, including how you’ll make money, how much money you will make and how much money you will need. Keep these parts separate so they are easier to digest.

Now is the time to tell the audience how you will make money. There are literally dozens of possible business models, including selling the product, selling a subscription, taking a processing fee, licensing and so on. Explain how you are going to charge people for the solution you are offering.

On your slide is an outline of the customer unit economics for your chosen business model — the price they will pay and basic terms of a typical contract. Explain how you will “do the deal” with customers. Whenever you show numbers, stand close to your presentation screen and point to the numbers you are talking about. Numbers are hard to follow. Pointing as you talk will help people stay engaged.

Minute 5: The Competition

There’s no such thing as a business without competition, and implying that you have none is a major red flag for investors and even potential partners or customers. Whatever problem you are going after is being addressed somehow, maybe not very well, but people experiencing the problem are trying to solve it, and the resources they access to cobble together a solution is where you will define your competition.

The key here is not to avoid the notion that competition exists, but how your company is different. The existence of competition validates the market. Do not talk about how you are “better,” focus on “different.” Your attitude towards the competition gives the audience a peek into your business soul. Are you dutifully respectful of their presences and power or are you arrogant and naïve enough to think your little startup will have no problem beating them? Err on the side of humility.

Your slides should depict your differences from the main competitors. Feature comparisons or positioning charts, for instance, can be effective tools. Many of the questions you will get from the audience will stem from what you say during this minute of your pitch.

Be clear and respectful before you transition to your sales and marketing plan.

Minute 6: Sales and Marketing

During you description of the competition, you struck a respectful tone. It’s now time to amp up the room again as you talk about how many potential customers are out there and how you’re going to get them. Show excitement and confidence as you walk the audience through the market data, your chosen point of entry and your communication strategy.

Slides will depict data, charts, and graphs which you will want to point to as you explain. Images of web sites, brochures, trade show booths in action, etc. are fair game here, too, and will help build excitement in room.

It is important to tie your sales and marketing plans together so it doesn’t look like you are shooting a scatter gun of one-off tactics. Show the logic and flow of lead generation to final sale and how your team plans to take the prospects through the buying process and into the customer experience.

End this minute by translating the marketing sizzle into numbers. It is time to talk about money again!

Minute 7: Money

Earlier, you explained how the business is going to make money. Now, it’s time to tell the audience how much money you are going to make. This is the good part. Your description of the deal shows the unit economics of a single customer (price), and your market description shows how many potential deals are out there (quantity). Armed with this information, you can describe how revenue builds over time.

Break it down for the audience. Show income and expenses in graphical format. Nothing beats a good bar chart, and pretty much anything beats a screenshot of a spreadsheet. Back up to your presentation slide and point to information like the weatherperson points to a weather map on TV.

Source: https://www.entrepreneur.com/article/421730

How to Make Money as a Freelance Writer: 15 Writing Business Essentials

Wondering how to make money as a freelance writer? Well, buckle up, because everyone loves the part of the hero’s journey where our protagonist accepts the “call to adventure” and “crosses the threshold” from “the ordinary world” into “the extraordinary world.”

It’s engaging. It’s hopeful. It pushes the plot forward.

But we can’t forget about the challenges and struggles that come next.

For new freelance writers:

You may have started off with a couple of great clients, but now you have to turn your passion into a sustainable writing business.

How to make money freelance writing

So, what’s the skill that enables a terrific content marketer and copywriter to offer premium services?

Time management.

Before you click away, disappointed that I brought up something as practical and boring as time management, hear me out. My intent is not to poop on your party as you learn how to become a freelance writer.

In fact, it’s the exact opposite.

When our freelance-writer heroes accept calls to adventure to cross over into the extraordinary world, they still need to be equipped with the real-world abilities that make their service businesses possible.

And part of that transformation involves balancing client work with their own marketing and marketing education.

Time management is the core of your strong business and content strategy, because how you spend your time directly affects the:

Health of your business
Types of clients you attract
Value you have to offer those clients

You don’t quickly learn how to make money as a freelance writer and then get to sit back and eat bonbons while clients who pay competitive rates flock to you.

The challenges and struggles of the hero’s journey exist for a reason: They help you and your business grow.

How to be a freelance writer and make money

But here’s an often overlooked scary thought that might happen on your way to earning money freelance writing:

What if your content marketing actually works? What if you get all of the clients you want? Will you be able to handle them?

Every service provider needs to answer those questions honestly because there is often a disconnect between what we say we want and the actions we take.

Fear of success can prevent us from crafting the bold, strategic plans that will truly teach us how to make money as a freelance writer.

Without realizing it, self-doubt causes us to make weak and safe moves that limit our potential — because we’re unsure if we’re capable of managing a full roster of clients.

The path to make money freelance writing

Self-doubt will arise in any business journey, but if you prepare for the healthy, sustainable relationships you want to have with clients, you’ll be one step closer to attracting and winning over prospects with confidence.

Check out these 15 service business essentials, so that you’ll feel nothing but proud when your content marketing dreams come true.

1. Get serious

Before you offer services, you’re used to operating as a non-business person. You likely perform favors for others — whether it’s reviewing a friend’s resume or sharing their content on social media.

Once you start offering services to make a living online, part of you becomes your “business self.”

It’s the foundation for the rest of these pointers about how to make money as a freelance writer.

While in your personal life “wanting” to do something might be a reason to do it, in your business life, you need to consider favors or discounts with care.

Your service is a business now, not a hobby.

2. Treat your business like … a business

Successful freelance writers establish the healthy boundaries all businesses (and especially service businesses) need.

Working extremely long hours every day of the week might seem exciting at first, but it always leads to burnout.

And when you’re burned out, you only have scraps of energy to offer new clients who might want to work with you at that time. You may even be so absent-minded that you forget to invoice your existing clients on time, which can be a strain on your cash flow.

To avoid those unfortunate scenarios, schedule your work and leisure hours. Creative people know the uncanny benefits of spending time away from work.

3. List goals

To reinforce your new business-centric mindset, list out your professional goals in a document you keep handy near your workspace.

A digital file on your computer desktop works well because you can easily add to it over time. The items in the list will ideally help both you and your clients.

They’ll be especially useful when you’re faced with a tough decision. You’ll already have clear intentions for the services you offer, so the choice you make should always help you reach one or more of those goals related to your online business ideas.

You might have to say “no” sometimes.

4. Protect your time

Service providers often work at all hours throughout the day and night, and give the excuse “that’s just my lifestyle.” (Been there, done that, wasn’t worth the indigestion.)

Skip that path to burnout and don’t reinvent the wheel just because you have the freedom to make your own schedule.

You can have a creative work life and borrow wisdom from tried-and-true practices, like designated office hours.

Give yourself time for:

Work responsibilities
Personal responsibilities
Meals and breaks
Leisure
Sleep

Like your list of goals, here you need to have clear priorities and agree to activities only if they realistically fit into the schedule for your work time or the schedule for your personal time.

5. Market to the right prospects to make money as a freelance writer

A part of your work time needs to be dedicated to marketing your own business.

One of the reasons why freelancers often experience the “feast or famine” cycle is because they overbook themselves with client work and don’t have time to market themselves.

If you only spend time serving current clients, when you finish those projects you won’t always have new prospects on the horizon.

It might seem scary to turn down extra work because you need to set aside time for your own marketing, but it’s an important step in learning how to make money as a freelance writer and building a long-term healthy business.

6. Be friendly, not friends

That non-business side of you will keep popping up if you’re not stern with it.

You can have friendly, professional relationships with your clients without crossing over into “friend territory.”

I’m not saying that a friendship with one of your clients can’t or won’t develop organically over time.

But a “I’m friends with all my clients!” attitude does not establish boundaries that enable you to take care of your business, your clients, your actual friends, and yourself.

Source: https://copyblogger.com/make-money-as-a-freelance-writer/