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Category - Entrepreneur

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1
7 Pillars of entrepreneural success
2
How to grow your business with no external capital
3
Starting a business involves sacrifices – what might they be?
4
Why write an Executive Summary?
5
The Psychology of Business Success

7 Pillars of entrepreneural success

I intend to give the readers of my blog value – thousands of dollars of value – for free with each post.

In my consulting practice I can charge up to $5,000 a day for my advice and in consulting engagements on start-ups, business diagnoses, strategic planning and marketing. Honestly, the time it takes me to prepare the information in these posts, and the value of the 30 plus years of experience I bring to these tips and tools, make each post of around $2,000 in value.

And you get it for free!

But the value I can give you doesn’t just rest in my own head. Sometimes I come across great articles about business and entrepreneurs that I can’t resist sharing with you.

And hey, it means I get 3 or 4 hours off not having to write or film another post of my own!

This week I came across a great article by Macquarie Bank about the 7 Pillars of being a successful entrepreneurial business:-

  1. Be patient
  2. Grow expertise by building your business organically
  3. Be disciplined with cost management
  4. Hire industry experts where needed
  5. Empower your people
  6. Keep the essence of your business alive
  7. Stay on top of new technologies and innovations.

Here’s the link to the article:-

Read More

How to grow your business with no external capital

You’ve started your business. You may have been running a few years and you are now at a stage where you need some capital to organically grow your business to its next stage.

We all want to see our businesses grow into something bigger, but finding external capital is difficult these days. Where are the angels when you need them, especially if you don’t want to go into debt?

Well there are things you can do to grow your business from within. Watch this week’s video to see what you can do.

Remember – there are always innovative ways to find capital from within your business. Sure, if you could get an injection of $250,000 to half a million, what you could do to your business! But when it’s not there, it’s not there and your growth will have to be organic and a little bit slower. But grow you can.

As always the fun starts after you watch the video – what do you think? What are your ideas or experiences in finding organic capital?

Get over to https://teikoh.com and leave a comment. Better still, sign up at here and be part of the Masterclass conversation!

Starting a business involves sacrifices – what might they be?

Well, the title says it all. Starting your own business involves making sacrifices. I’m sure you have been thinking of some of them already but I think it’s useful to be prepared for what might come.

Starting your own business can be incredibly rewarding. It’s usually about following a dream. Some of you are perhaps a little more down to earth. “Oh no'” you say, “it’s not a dream, I just want to work for myself!”

Well, that’s a dream isn’t it? Whatever the form, you have decided to start your own business to achieve something – your independence, a lifestyle, to make a difference, to be recognised, to create.

However the reality for most of us is that the startup phase is long and hard. Your dream is not going to be achieved in that first few months or even year. In that time you have to work hard, work smart, spend a lot of time on it, choose to invest in it instead of something else. This is when the sacrifices start to be asked of you.

So, it’s better to recognise that some of these sacrifices will have to be met now rather than be surprised by them. But remember your dream – that’s why you are making these sacrifices.

I’d love to hear about your journey. Get over to the website and leave a comment about what you have sacrificed and was it worth it.

At https://teikoh.com you will find more tools and resources to create strategies to grow your business. Sign up with your email and name and I’ll make sure you don’t miss a thing!

Why write an Executive Summary?

An Executive Summary is a summary of the key items in your planning or other document that is full of facts and information.

The best planning documents, whether strategic plans, business plans, corporate plans, marketing plans, or implementation plans, contain compelling Executive Summaries.

Yet at first glance (or indeed in a badly written Executive Summary) it simply appears as if information has been duplicated. Why can’t the reader simply go into the body of the document to read the information there anyway? The answer is because these documents are meant to be read by busy people. Often, they are to attract investment or engagement from these busy people who would be a befit to your business. They may be investors, bank managers, or even your own busy managers or team members. I order to get past the gate of continuing interest, and to engage them, you need to first draw them in by creating excitement and interest.

The Executive Summary provides that tantalising glimpse into the document – it creates a sense of excitement and gets the document through the gate so that they continue reading the document or pass it on to people who will then go through the document in detail. Business plans written as enticements to invest rarely get past the first executive reading it to see if they will be interested – often because there is no quickly read Executive Summary to entice them in.

This video talks about why you should have an Executive Summary, and what it should contain.

If you want to know more about planning in your business, come on over to teikoh.com and get the planning templates, tools and resources available for free. While you are there sign up for our newsletter that will deliver more resources on developing strategy, providing leadership, and growing your business.

The Psychology of Business Success

To be successful in business, you don’t just need to be skilful in what you do, you need the right psychology.

You may know your product well, you may have all the learning and skill to deliver it, you may have the experience of managing people, you may even have some training in all the subsidiary skill-sets like marketing and book-keeping; however without the right psychology, being in business could defeat you.

But I’m not a pessimist at heart. I believe that if your really set your mind to get something, you will find your way. And that is part of having the right psychology.

So what do you need to think and believe in to be successful in business? In this video I outline the characteristics you should cultivate.

As usual the fun is at the end – come on over to the website teikoh.com and let me know what you think. While you’re there subscribe to out email newsletter to be kept up to date with all the tools and resources you need to run a successful business.

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