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Key Principles For All Entrepreneurs
Nishant Baxi
If you’re wanting to learn how to set goals now for tomorrow’s benefit…Then this may be the most important letter you’ll ever read!You’re About To Learn All About Growth Potential Without Potential Waste And How To Manage Your Money Principles, No Matter How Much Time You Have Had To Prepare!It doesn’t matter if you’ve never experienced entrepreneurship up close and personal, This guide will tell you everything you need to know, without spending too much brainpower!
Key Principles For All Entrepreneurs
Nishant Baxi
© Nishant Baxi, 2020
ISBNВ 978-5-4498-5739-2
Created with Ridero smart publishing system
Key Principles
ForВ All
Entrepreneurs
NishantВ Baxi
В В В В 1
Limits ofВ Liability / Disclaimer ofВ Warranty:
The authors ofВ this information and the accompanying materials have used their best efforts inВ preparing this course. The authors make no representation or warranties with respect toВ the accuracy, applicability, fitness, or completeness ofВ the contents ofВ this course. They disclaim any warranties (expressed or implied), merchantability, or fitness for any particular purpose. The authors shall inВ no event be held liable for any loss or other damages, including but not limited toВ special, incidental, consequential, or other damages.
This manual contains information protected under International Federal Copyright laws and Treaties. Any unauthorized reprint or use ofВ this material is strictly prohibited. We actively search for copyright infringement and you will be prosecuted.
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Table OfВ Contents
Introduction………………………………………………………………..….pg 4 Chapter 1: Today Isn’t Everything, Really………………………..6 Chapter 2: Set The Goal Now For Tomorrow’s Benefit…….9 Chapter 3: Growing and Staying Green……………………………13 Chapter 4: Understanding Your Market……………………………19 Chapter 5: Trend Versus Trend Setting………………………….23 Chapter 6: Principal: History……………………………………………27 Chapter 7: Investing in Knowledge………………………………….31 Chapter 8: Growth Success Without Potential Waste………37 Chapter 9: Managing Money Principles…………………………….43 Chapter 10: Market For True Success……………………………….52 Chapter 11: Principles To Remember and Use………………….59 Conclusion…………………………………………………………………………….60
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Introduction
What does being an entrepreneur mean toВ you?
Anyone that is interested inВ finding true success throughout their lives can do so, with the right tools, the right amount ofВ ambition and the knowledge toВ make it all happen. Yet, the entrepreneur, no matter which business he is inВ he must plan ahead and find success through much more than just these things.
ToВ be an entrepreneur, you are not just looking for benefits right now. While you are sure toВ want your business toВ truly take off and do well inВ its first year, its infancy, it is just as important, if not more so, that the long term goals that you have match the need that you have as well.
In the long term, the entrepreneur’s world is much different and much more unique. To find true success, he needs to think of today as well as tomorrow-two fold.
How and what will you do toВ insure that your business, the one that you have worked so hard toВ make happen inВ the first place, is going toВ make it inВ the long term? Although this is not something easy toВ do, you can do it with skill.
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InВ this e-book, you will learn some ofВ the most essential principals ofВ protecting your business not only for today, but also for the long term.
As aВ new or aspiring entrepreneur, you did not think about what the future would hold because only today mattered. Yet, now is the perfect time toВ step back and toВ find out just what the best way toВ manage your business sin the long termВ is.
If you wish toВ have aВ business that allows for success and money inВ your pocket down the road, it is essential that you spend some time now planning for it toВ happen.
The good news is that you do not have toВ go toВ school or be aВ rocket scientist toВ figure this out. InВ fact, we provide aВ great deal ofВ the information and resources that you need here, without any need toВ look elsewhere.
OfВ course, we also hope you are inspired toВ take the next step and toВ find the true benefit ofВ your business byВ putting these things into action first and foremost. When you do these things, true success and money inВ your pocketbook is all that will matter.
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Chapter 1: Today Isn’t
Everything, Really
As an entrepreneur, your job is very detailed. You need to be the creative one. You need to be the boss. You need to hold the vision of your business at the head of each and every thing that you do for that business. But, today isn’t everything.
As aВ business owner, you must remember the fact that the long term goals and process ofВ your business can only happen if you plan for it now, not inВ theВ day.
You have probably heard people tell you that you need to; В«Live inВ the day!В» As an entrepreneur, this is not possible and should not be the way that you hold your business agenda.
But, whyВ not?
Most of the time, we would like to think that all we really need to do is to put together a plan and hold onto it. Somehow, things will fall into place. It has to. That’s all it can do.
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Yet, from aВ business standpoint, there is much more toВ think about.
For example, you may have employees that need the funds that come from your business for their day toВ day expenses.
You may need toВ take into consideration the overall benefits that you have inВ keeping your business going. What about your assets? Will they make it through the process? How about your cash flow? What will happen if something does go wrong?
All ofВ these things are really only the tip ofВ the iceberg when it comes toВ ruining aВ business inВ the long term. The bottom line is that you need toВ consider what your business will be like today as well as ten, twenty and more years down the road.
Think AboutВ This
Before we get started, it is essential that you understand two concepts ofВ your business dealings. When you make aВ decision inВ your business, ask yourself these questions first and foremost.
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– When I make this decision, what is the short term and immediate effects of doing so? How does this affect my business today?
– When I make this decision, what is the long term effect of making this choice? How will this decision affect my business months and years from now?
When you take the time toВ carefully consider decisions that happen inВ front ofВ you, you put yourself inВ charge ofВ your destiny.
If you allow the cards toВ fall where they may, you may not be inВ business six months from now. Therefore, as you work through this e-book, ask yourself what steps you can take right now that will better your overall business inВ the short and the long term.
OfВ course, we should mention that there is never aВ for sure way toВ know what the future holds. There is no way toВ know if you are really making the right decision or not. But, what you have toВ do here is toВ insure that you give tomorrow the best possible chance that youВ can.
Don’t let it just happen, make today count for tomorrow and tomorrow’s tomorrow too.
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Chapter 2: Set The Goal Now, For Tomorrow’s Benefit
No matter what aspect ofВ your life you are talking about, goal setting is aВ crucial factor throughout it all. As you will see, each ofВ the decisions you make as an entrepreneur will affect your overall goal ofВ being successful with your business. Yet, there is more toВ it than just that.
You should also set goals because they can help you toВ make the right decisions throughout the process ofВ getting toВ the level ofВ success that is coming. ByВ investing the time and energy that you have inВ setting goals now, you help yourself for each decision it takes toВ reach the end result you are hopingВ for.
InВ other words, if you set some overall goals today, you can help insure that your business will be there and be prosperous throughout the future ofВ the business. Goals now, count.
While we all have the same goal of finding success in the future, we still need to set goals to help us to get to that point. It doesn’t happen overnight!
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How ToВ Set Goals Successfully
When it comes toВ setting goals, there are not many ofВ us that are very good at doing so. There are plenty ofВ opportunities for mistakes toВ be made, but the real problem comes inВ how we set them as well as what we do once we set them.
For starters, it is essential toВ know what your goals are. Take aВ few minutes right now toВ figure this out. Simply sit down with aВ blank sheet ofВ paper (yes, you can use your computer too!) and avoid all distractions for ten minutes.
Write down anything and everything that comes toВ your mind inВ regards toВ your goals.
What are they?
Where do you want toВ be inВ aВ year?
Who do you want toВ have withВ you?
Where do you see your business inВ five years?В 20?
What dollar amount ofВ sales will make you happy this year? What do you need toВ make inВ profits toВ reach aВ new level ofВ satisfaction each year?
All ofВ these things may be things toВ spark your mind. Determine where your business will be within the next years. Look long term for starters. Then, follow these tips.
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Goal writing is made easy through some basic steps.
– Write down your longest term goal. This is the place that you want to be in a number of years, or the place you need to be to be as successful as you plan to be.
– Give yourself a time frame for making that happen. You may want to say that you want to make your first million in two years. Or, it may take many more for that to happen. Giving your goal a timeframe helps to get your mind set in how to make that happen. If you leave it open ended, the long term goals are not benefited by your actions each day, as they would be here.
– Give yourself smaller goals to reach as steps up to the larger one. For example, the new entrepreneur may be able to say that he wants to be in an office, set up and running within a month’s time. In six months, he plans to be running into profit, after expenses have been paid down. Determine what your steps are to reaching your goal. Make sure that you write them with time frames attached too.
– Now, write them by hand on paper in the following manner. «Within six months, I will have paid off all debt that I owe and be running in the clear. I will do
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this byВ pushing sales and not pushing any new expenditures during that time.В» InВ this manner, you have listed not only what the goal is and the time frame toВ have it done, but also how you will get there.
– Take this piece of paper and place it everywhere and anywhere that you will see it at least several times per day. Seeing it will allow you to think it. Thinking about it makes it happen. Success through goals is the only way to find it.
Now that you know what your goals are, it is essential for you toВ make sure that they do happen.
You will need toВ read those goals each day, at least one time per day. When you think it, see it, feel it, you make it happen.
Throughout the next chapters we will discuss what long term decisions you need toВ make as well as what various things you need toВ do toВ make them happen.
When you go through each step, determine your goal for it. How will you implement it into your current work day and how will you insure that it will happen?
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Chapter 3: Growing And Staying Green
When you are green, you are growing. Once you start to turn red, you are expiring. Don’t you want to always stay green then?
As an entrepreneur, one thing that you should realize is that the world never stays the same. You are, for the most part, always going toВ find some changes happening. As aВ business owner, if you can not adjust your business toВ those changes, you may find yourself facing more problems then benefits.
Many companies have had toВ go out ofВ business simply because their product no longer works with what the consumer needs. It does not matter what type ofВ business you have either. The bottom line is that if you are not green and growing, you are not going toВ make it inВ business for long.
Is your business green and growing?
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The Long TermВ Goal
The long term goal ofВ any business situation is toВ insure that they are able toВ meet the needs ofВ the client or consumer. If they can not do this, they can not have consumers and will eventually fall out ofВ the scope. If they do happen toВ do this, they will find rewards continuously with increased profit and new customers toВ fill their pockets.
InВ this case, the long term goal that you need toВ make is toВ maintain green. You need toВ maintain some aspect that will continuously help you toВ move forward with what is happening within your business.
If you are not sure why this is important, take for instance, the current situation.
Enter The Car Manufacturing Business
Today, we hear quite aВ bit ofВ talk about energy cost, the cost ofВ gas and all that goes with it. InВ fact, today, more people know what the cost ofВ aВ barrel ofВ crude oil is than they ever have. Why is this; and what does this do for the industry?
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If you haven’t spent any time shopping or a car, you may not realize that many manufacturers are struggling to stay in business. Their problem is that their cars, trucks or anything in between are not able to meet the demands of the consumer.
Why not? They may not be able toВ offer low enough mileage. With each passing year, more and more consumers are looking for aВ better way toВ fuel their energy needs. That comes inВ the way ofВ cars that are hybrids and those that do not run on gas atВ all.
InВ these cases, if the business can not meet the needs ofВ the consumer, how can they run effective businesses?
They can’t and that is the same thing that can happen to virtually any business out there. Unless your business can be green, growing and exploring new routes to take, it can not meet the needs of the consumer who is, of course, the lifeblood of the business.
How ToВ DoВ It
The question that you need toВ ask yourself, then, is what do you need toВ do toВ make this happen inВ your business?
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Let’s say that you have an internet business. Perhaps one of the important things that you must do is keep up with search engine optimization.
If you do not follow and keep in contact with the new rules and the changing scheme of matters, your website won’t rank well and will fall out of the scope of being worthwhile.
InВ this case, it is essential that you maintain the ability toВ keep your knowledge and your skill at the highest quality. The same goes for various other businesses including those such as insurance agency and real estate agency. Unless you keep your knowledge at the top, you can not make sure you are doing what is right.
There are other ways that you need toВ think about this as well. For example, what about marketing? If your marketing is not trendy enough (or happens toВ be too trendy for the wrong market) you may find yourself inВ trouble.
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