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Characteristics of the Successful Entrepreneur


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Course Features

Video

High

Audio

None

Animation

None

Equivalent to FETAC

Level 5

Equivalent to QCF (UK)

Level 3

Language

EN

Publisher

Stanford

Rating

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Learning Outcome

Modules in Characteristics of the Successful Entrepreneur

This course will be of great interest to business professionals who will learn much from the experience, knowledge and wisdom Jeff Hawkins has gained over his career.


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Comments & Reviews

  • Alian Nacoud Mexico Excellent easy course. Learned a few things. 2014-11-06 00:11:43
  • Tracy Link-Rudy Jamaica 1. Do what you enjoy. What you get out of your business in the form of personal satisfaction, financial gain, stability and enjoyment will be the sum of what you put into your business. So if you don't enjoy what you're doing, in all likelihood it's safe to assume that will be reflected in the success of your business--or subsequent lack of success. In fact, if you don't enjoy what you're doing, chances are you won't succeed. 2. Take what you do seriously. You cannot expect to be effective and successful in business unless you truly believe in your business and in the goods and services that you sell. Far too many home business owners fail to take their own businesses seriously enough, getting easily sidetracked and not staying motivated and keeping their noses to the grindstone. They also fall prey to naysayers who don't take them seriously because they don't work from an office building, office park, storefront, or factory. Little do these skeptics, who rain on the home business owner's parade, know is that the number of people working from home, and making very good annual incomes, has grown by leaps and bounds in recent years. 3. Plan everything. Planning every aspect of your home business is not only a must, but also builds habits that every home business owner should develop, implement, and maintain. The act of business planning is so important because it requires you to analyze each business situation, research and compile data, and make conclusions based mainly on the facts as revealed through the research. A business plan also serves a second function, which is having your goals and how you will achieve them, on paper. You can use the plan that you create both as map to take you from point A to Z and as a yardstick to measure the success of each individual plan or segment within the plan. 4. Manage money wisely. The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for services, promote and market your business, repair and replace tools and equipment, and pay yourself so that you can continue to work. Therefore, all home business owners must become wise money managers to ensure that the cash keeps flowing and the bills get paid. There are two aspects to wise money management. The money you receive from clients in exchange for your goods and services you provide (income) The money you spend on inventory, supplies, wages and other items required to keep your business operating. (expenses) 5. Ask for the sale. A home business entrepreneur must always remember that marketing, advertising, or promotional activities are completely worthless, regardless of how clever, expensive, or perfectly targeted they are, unless one simple thing is accomplished--ask for the sale. This is not to say that being a great salesperson, advertising copywriting whiz or a public relations specialist isn't a tremendous asset to your business. However, all of these skills will be for naught if you do not actively ask people to buy what you are selling. 6. Remember it's all about the customer. Your home business is not about the products or services that you sell. Your home business is not about the prices that you charge for your goods and services. Your home business is not about your competition and how to beat them. Your business is all about your customers, or clients, period. After all, your customers are the people that will ultimately decide if your business goes boom or bust. Everything you do in business must be customer focused, including your policies, warranties, payment options, operating hours, presentations, advertising and promotional campaigns and website. In addition, you must know who your customers are inside out and upside down. Related: Keeping Your Customers Satisfied -- It's All in the Details 7. Become a shameless self-promoter (without becoming obnoxious). One of the greatest myths about personal or business success is that eventually your business, personal abilities, products or services will get discovered and be embraced by the masses that will beat a path to your door to buy what you are selling. But how can this happen if no one knows who you are, what you sell and why they should be buying? Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the majority of home business owners have at their immediate disposal. 8. Project a positive business image. You have but a passing moment to make a positive and memorable impression on people with whom you intend to do business. Home business owners must go out of their way and make a conscious effort to always project the most professional business image possible. The majority of home business owners do not have the advantage of elaborate offices or elegant storefronts and showrooms to wow prospects and impress customers. Instead, they must rely on imagination, creativity and attention to the smallest detail when creating and maintaining a professional image for their home business. 9. Get to know your customers. One of the biggest features and often the most significant competitive edge the home based entrepreneur has over the larger competitors is the he can offer personalized attention. Call it high-tech backlash if you will, but customers are sick and tired of hearing that their information is somewhere in the computer and must be retrieved, or told to push a dozen digits to finally get to the right department only to end up with voice mail--from which they never receive a return phone call. The home business owner can actually answer phone calls, get to know customers, provide personal attention and win over repeat business by doing so. It's a researched fact that most business (80 percent) will come from repeat customers rather than new customers. Therefore, along with trying to draw newcomers, the more you can do to woo your regular customers, the better off you will be in the long run and personalized attention is very much appreciated and remembered in the modern high tech world. Related: Why You Should Never Prejudge a Sales Prospect 10. Level the playing field with technology. You should avoid getting overly caught up in the high-tech world, but you should also know how to take advantage of using it. One of the most amazing aspects of the internet is that a one or two person business operating from a basement can have a superior website to a $50 million company, and nobody knows the difference. Make sure you're keeping up with the high-tech world as it suits your needs.. The best technology is that which helps you, not that which impresses your neighbors. 11. Build a top-notch business team. No one person can build a successful business alone. It's a task that requires a team that is as committed as you to the business and its success. Your business team may include family members, friends, suppliers, business alliances, employees, sub-contractors, industry and business associations, local government and the community. Of course the most important team members will be your customers or clients. Any or all may have a say in how your business will function and a stake in your business future. Related: Why Teamwork Should Be Your No. 1 Sales Tool 12. Become known as an expert. When you have a problem that needs to be solved, do you seek just anyone's advice or do you seek an expert in the field to help solve your particular problem? Obviously, you want the most accurate information and assistance that you can get. You naturally seek an expert to help solve your problem. You call a plumber when the hot water tank leaks, a real estate agent when it's time to sell your home or a dentist when you have a toothache. Therefore, it only stands to reason that the more you become known for your expertise in your business, the more people will seek you out to tap into your expertise, creating more selling and referral opportunities. In effect, becoming known as an expert is another style of prospecting for new business, just in reverse. Instead of finding new and qualified people to sell to, these people seek you out for your expertise. 2014-11-03 23:11:12
  • Lissania Charlton United Kingdom it was a great great course and some interesting point came across in the lesson and i also get to understand more bout characteristic of an entrepreneur and business ideas. 2014-10-31 19:10:22
  • Angela Field United States of America I thought the course was informative and will give me some things to think about as I pursue my goals. Thank you. 2014-10-25 21:10:47
  • Sami McCauley United States of America Gleaning from the wealth of nuggets and experience that Jeff has is very enlightening. 2014-10-19 03:10:46
  • Lee Junn Kang Malaysia This course is really knowledgable. I have learn that from the speaker that, sometimes it's good to persist on our ideas if we think it's right. The speaker siad that "the core pc will be in our pocket", instead of the desktop computer. This is true as right now, everyone has a smartphone carrying along. Being a successful entrepreneur is not just follow what others do, but learn from others and do what you think and what you believe in. 2014-10-03 18:10:27
  • Melissa Ratajczak Ratel Canada It was great to be able to sit down and listen to an entrepreneur who has lived it over time. His ability to live through the good and bad, and be realistic about the work/life balance was refreshing. Knowing it's okay to try and build your vision & passion within an existing company is also a fantastic relief! 2014-10-02 01:10:43
  • Mar Solis United States of America Great Course 2014-09-10 04:09:21
  • Michael Griffiths New Zealand Good course 2014-09-07 14:09:40
  • Michael Griffiths New Zealand Very interesting. 2014-09-05 10:09:24
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Characteristics of the Successful Entrepreneur

Learn from the experience, knowledge and wisdom of a successful entrepreneur.

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