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Financial News

7 Signs That You’re Ready To Become An Entrepreneur

Have you been bitten by the entrepreneurial bug? Are you an 8-to-5 employee bored to death at work wishing you could do something more in your life? If you’ve already got a rough sketch of your business plan but still undecided if you will push through, here are some signs to check if you’re ready to pave the way to entrepreneurship.
1. You’re sure of what you’re getting into.
You have thought about the pros and cons of entering into business and have carefully assessed your suitability to the industry that you’re pursuing. You have also weighed the consequences of losing that constant paycheck from your day job and have calculated the risk-reward ratio of getting into business.
2. Family, friends, and relatives show deep support.
If you’re family, relatives, and friends have been showing support by devoting their time and resources to helping you set-up the business, then it means that they are very confident in what you’re establishing and believe that you have the right skills and dedication to go through the start-up phase.
3. Have learned enough from being employed.
After working for someone else’s business for how many years, you must have learned so much already. Much better if you were able to rotate across different departments so you’ll have an idea on how the operations, sales & marketing, finance, and administrative departments work hand-in-hand to accomplish the company’s objectives. It’s also better if you’ve had exposure in several companies as it gives you an idea of how different organizations deal with problems and issues they encounter.
4. You’re searching for that purpose in life.
You’ve suddenly lost passion in your day job and feel that you want to do something more in your life – something that you love doing and at the same time be a source of income for you. It may also be something that can help the community by giving jobs to people or making environment-friendly products.
5. You know a product or service not yet available in the market.
This is what marketing professionals call the blue ocean strategy. Identifying an untapped market and enjoying the benefits of being the only product to serve a specific customer segment or a specific need. Of course you would still need to ensure high-quality products, especially if the product concept can easily be replicated.
6. You know that the business idea is market- and technically feasible.
You have done both a market and technical feasibility, have found that the business has a potential market and have developed strategies to gain and expand market share. In addition, you have designed an operational framework that will serve as guide on how you’ll run the business.
7. You know where to find financial resources to start the business.
Last but not the least, you have to know where to get capital funding and sources of emergency funds just in case your business would need that additional cash to sustain itself. No matter how spectacular the product concept is, it will not succeed without properly planning the business’ finances.

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Business Week

Ever Had an Amazing Idea That You’re Dying to Turn Into a Profitable Business?

Do you have an amazing idea that you’re dying to turn into a profitable business?
You can turn that idea into a business that joins the ranks of the best MLM companies and make your idea available to other potential distributors who would love to buy into it and start selling right away. The only thing that keeps people from making their dreams a reality is not having the right information and resources available.
The answers you need are out there, and if what you need is a way to start building your business idea, there are tools that will help you create a business plan and then put it all into action.
MLM tools like ROI (return on investment) calculators, will help you forecast how much you should spend on marketing campaigns and how much you expect to earn from that investment. Other important tools might be software that helps you generate a sales page and automated blogging software so that you can initiate a portal to create your online presence.
There are a lot of MLM tools that will make it easy for you to create an online portal so that people can find you and get to know you. You can give them the option to be contacted by you, once they decide they want to run an online business like yours.
Some sites provide powerful MLM training for new entrepreneurs who want to learn more about best business practices. The training will teach you how to determine the kind of people you want to target and sponsor. You can learn how to create marketing campaigns for your type of business and target more specifically the customer that you are looking to do business with. It is a also a great idea to converse with other entrepreneurs that are taking similar training, and give value to each other, and maybe share strategies that you have not yet tried.
The main thing is that you focus your time and efforts to finding the best MLM training for you and your business so that you can quickly and effectively get your business up and running in the most efficient way possible to achieve the success of your dreams.
Good luck in your pursuit of turning your ideas into action and success in your business.