Entreprenuer

It is a great time to to have been an entrepreneur in the last decade, technology has leveled the playing field and propelled an entrepreneurial revolution.

As an entrepreneur, you now have more access to information that enables you to make more intelligent choices more quickly. You have an advantage over big businesses in that you are lighter, more flexible, and faster on your feet. You can target new markets more quickly, and you can turn on a dime.

But being a successful entrepreneur requires that you look at the big picture and follow a plan through from beginning to end. Rieva Lesonsky, editor-in-chief of Entrepreneur Magazine gives some practical guidelines that can help you when beginning your own enterprise:

1. Don’t Quit Your Day Job.
Consider starting your business part-time, especially if it is online, while you are working and have a steady income. It usually takes six months to a year to get a business going and you don’t want your ability to make your house payment to hinge upon your company being an overnight success. Start with what you can manage, financially and time-wise, and scale up as your business grows.

2.Find Your Niche.
The days of general stores are over. Particularly online, consumers are looking for stores that specialize. You have to find a need for something a specific group of people want, but can’t get at the big chain stores and fill it. Advises Lesonsky, ìYou can’t compete with the big guys, so you have to find where the big guys aren’t and go into your niches.

3.Have an Online Presence.
Even if you are not planning to start an online retail business, consider that the internet can still play a valuable role in your company. Having an online presence eliminates the limitations of physical location and broadens your customer base by, literally, millions. It is also a great tool for promoting yourself and letting people, even in your own area, know that you are there, and what you are doing.

4.Refuse to Quit.
Successful entrepreneurship requires creativity, energy, and a drive to keep going when you fail. Few people realize that before Bill Gates created the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of which flopped but he kept at it. And that determination and refusal to give up is what will separate successful entrepreneurs from unsuccessful ones. Says Lesonsky, arm yourself with optimism to get beyond the norm. There is nothing wrong in failure just don’t repeat the same mistake!

Entreprenuer

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Here is a fantastic retail presentation in Singapore.

The effort these people go to is an example of the way retailing needs to be in the coming years. Online business is becoming the norm these days and the retail sector needs to get smarter.

If the high street business is to flourish and survive these days they need to be inovative like these people.

Service to the customer who visits these establishments must be second to none and staff must be trained to the highest of standards.

Singapore is one city where there has always been major efforts to ensure reatil stores look the part. There are many shopping centers and lots of competitors. It is a refreshing sight to see creative people achieving these high retail standards.

I have spent my life in the Audio Video business and hopefully we will soon see the consumer electronics industry taking a lead as these sports people have.

Sent from my iPad

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Another bunch of passionate Consumer Electronics people in Kuala Lumpur. All pushing the envelope. Working long hours doing what they love.

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