Tag Archives: entrepreneurs

7 Things Entrepreneurs Should Do Before 7 a.m.

“Entrepreneurs are a unique breed of people. We like to do things our way and are known for our almost obsessive attraction to habits. But, there’s a good reason for that. Habits help us achieve our goals, keep us motivated, eliminates wasted time, and improve our lives altogether.

Arguably, the most important habit for an entrepreneur is their morning routine. After all, if you start your day off on the wrong foot, how productive, motivated, and focused are you going to be for the rest of the day?

To make sure that you start your day off on the right foot, here are seven things that every entrepreneur should before 7 a.m.

1. They’re wide awake.
Successful entrepreneurs like Richard Branson are known for waking up bright and early.

“I have always been an early riser. Like keeping a positive outlook, or keeping fit, waking up early is a habit, which you must work on to maintain. Over my 50 years in business I have learned that if I rise early I can achieve so much more in a day, and therefore in life,” explains the Virgin Group founder.

When you’re awake before 7 a.m. you have the time to check the news, gather your thoughts, or exercise. This prevents you from rushing out the door every morning feeling frazzled and unfocused.

Waking up early means that you have to stop hitting the snooze button by getting enough sleep each night – preferably between 7 and 9 hours. Besides ensuring that you’re an early riser, getting the appropriate amount of sleep improves your health, memory, learning, productivity, and mood. It may even help you make fewer risky financial decisions, reduce stress, and decrease fat and increase muscle mass with exercise.

Related: How I Run 3 Multi-Million-Dollar Companies While Getting 9.25 Hours of Sleep a Night

2. Avoid your phone.
This may sound crazy, but there a couple of perfectly valid reasons for not reaching for your phone first thing in the morning. For starters, placing it next to yourself throughout the night can interrupt your sleep because of the light the screen emits or the notifications that go off throughout the night.

Additionally, diving into your inbox or social media channels can be stressful and distract you from setting your personal priorities. Instead of setting your goals for the day, you’re frantically responding to an angry email from a client. That’s not the best way to start your day.”

Read the full post here.

11 Secrets That Made These Entrepreneurs Millions

“These 11 mega-successful entrepreneurs, and members of The Oracles, share the most important piece of advice that helped them close millions of dollars in deals. Their tips will save you years of wasted effort and help you mirror their success.

1. Build a strong foundation.
If raising capital, first seek advice from investors. It’s a smart way to avoid rejection and learn how to improve your pitch deck. Execute your company goals, return with an improved pitch, and eventually, you’ll land investment (it took us three years from the first meeting).

“It took us three years from the first meeting [until we landed our first investment dollars].” –Melanie Perkins

Here are some hard lessons we learned. One, don’t promise to raise capital by a certain date; you’ll look like a failure if you don’t close the deal in time. Two, avoid needing capital. Investors ironically want to invest in companies that will succeed regardless. Three, don’t prematurely raise capital. Grow your company as far as possible alone; you’ll learn many important lessons and how to execute. Most importantly, you’ll have time to figure things out without a ticking time bomb as you ramp-up expenses. (We had our first company for five years before landing investment for Canva. This ensured we learned many critical lessons before turning up the heat.) —Melanie Perkins, co-founder and CEO of Canva, who just doubled her company’s valuation to $345 million.”

Read the full post here.

Things Entrepreneurs Need to Do in the New Year

entrepreneur

“Now that the holidays are over and the new year is in full swing, it’s time to head back to the lab to formulate fresh, smart, and effective ideas that will grow your organization.

Whatever the size of your firm, whether you’re B2B or B2C, and regardless of the industry in which you operate, here are four must do’s that you need to launch if you’re aiming to increase profits and market share over the next 365 days:

1. 100-Day Plan.
Since the 1930’s when Franklin Roosevelt pioneered it as a means of gauging his effectiveness in the Oval Office, the 100-day plan has become a tradition for newly elected American Presidents. The plan consists of achievable short term goals that adhere to a President’s long term vision for the country. Entrepreneurs should write their own 100 day plans as blueprints for advancing their organization’s productivity and profitability. Such a plan establishes 100 tasks, and requires business owners to consider the specific steps and resources that are needed to bring them to fruition. While there’s a time and place for visionary long term planning, the 100-day plan allows entrepreneurs to craft and pursue attainable objectives and start the year off with a burst of energy. When the 100-day finish line is reached mid-April, entrepreneurs will know if they should be celebrating or if they need to recalibrate their efforts.”

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Nonprofit Entrepreneurs Can Change the World

“Today, I am issuing a call to everyone who works for a non-profit organization… to every development director, executive director, program assistant… to everyone who cares about a non-profit enough to work there, donate there, or volunteer there.

Today, I am asking you to think like an entrepreneur.

I know: you’re not a for-profit business. Your bottom line, as a school, church, or charity, is measured in lives changed, not dollars gained. You have different goals, different needs, different plans than a for-profit business. You are, and always will be, a mission-focused non-profit organization. I hear you.

But still…. Today, I am asking you to think like an entrepreneur.

What is an entrepreneur? Let’s look at the definitions…

According to Wikipedia, an entrepreneur is “a person who is willing to launch a new venture or enterprise and accept full responsibility for the outcome.”

According to the Merriam-Webster Dictionary, an entrepreneur is “one who organizes, manages, and assumes the risks of a business or enterprise.”

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Women Entrepreneurs Should Buy a Business

women entrepreneurs

You may have seen that the number of women entrepreneurs is on the rise. But even though female entrepeneurship is growing – up 30 percent since 2007 — there is still work to do.

Currently, women only make up 37 percent of entrepreneurs, and if we look at how women participate in entrepreneurship, we see that they are lagging in many key categories.

I reviewed my firm’s last three years of transactions – we help online entrepreneurs sell their web based businesses — to see if I could learn more about how women were involved in this part of entrepreneurship.

We gathered a lot of interesting data, but the number that stood out above all the rest was the fact that out of all the acquisitions we inspected, only three percent of the buyers were women.

Why don’t women look to acquire?
The lack of interest in acquisitions could be a result of natural differences between men and women. Kat Loterzo, a successful business coach, noted what she observed in differences between her male and female clients.

According to Loterzo, for women, their business is something that they allow to be deeply tied in with their identity. So they’ll make their decisions more based on emotions rather than based on outcome. As a result, most women will be less likely to want to buy someone’s business.

Read the full post here.