Building your own business is not as intimidating as it used to be.
This is partly down to all the different technologies that are available to us now, specifically, the Internet. So in this modern world of technology ANYONE can be an entrepreneur…
Well, not exactly. You may have the tools you need, but that doesn’t necessarily mean that you have the temperament necessary to become a GREAT entrepreneur. Without that, it may be possible you’re not meant to be a successful businessman at this point. How do you know if you have what it takes to succeed this way?
You’re a charmer
While whilst being an extrovert isn’t a prerequisite for winning in business – you don’t really think that Bill Gates was an extrovert before he was successful, do you? – however knowing how to speak to people is. The fact of the matter is that most companies cannot succeed without the hard work of multiple individuals. It’s not just about getting investors to put money into a venture; it’s also about inspiring people to do what needs to be done for the sake of the organization. You need to be able to talk people into doing things that they never thought possible, if you want to win the game of business.
You’re a bit of a mad scientist
While you don’t need an actual science degree to become an entrepreneur who can compete with the best in today’s market, you still need some level of scientific curiosity to be able to offer customers something new.
Asking questions like “why is this not working?” and “what does THIS button do?” pave the way towards innovation – something that consumers today really, truly, value. You need to be brave enough to ask questions and explore some pretty crazy alternatives if you want to compete in and dominate the industry of your choice.
You’re pretty darn stubborn
You can’t expect yourself to succeed if you don’t know how to stand your ground. Sure, you also need to know when to stand down and admit that you got some things wrong. But, for the most part, you need to have the stomach for the trials and tribulations most entrepreneurs have to face. You can’t expect instant success for your business, and you need to be able to push through your company’s darkest moments if you want your enterprise to survive in its first year or so. If you want to take your business to the top, then you darn well better believe in what you’re doing.
You’re an optimist
You can’t build a business if you always think of the worst-case scenario (and panic) every time the progress of your company hits a snag. Apart from stubbornly believing in what your enterprise has to offer to the world, you also need to believe in looking at the brighter side of life. That way, instead of focusing on the problem itself, you’ll just find other elements of the situation that you can use to your advantage. If you can look at a crisis and think that it gives you an opportunity to show off the company’s resilience, then you have a better chance of succeeding.
So, do you think you’re meant to be a successful entrepreneur?
Advertising is a key element in the operation of a business. People learn about new products, special item sales and clearance sales through advertising. Entrepreneurs know that the key to selling products is to let buyers know that the products they need and want are available at reasonable prices.
Since many people sell similar products, advertisers realise that the best chance for selling a product is to find an interested buyer. Therefore, some advertisers specialise in compiling lists of targeted customers. They know that sending advertisements to uninterested people is a waste of time and money. In addition, if they can guarantee a targeted list, they can charge more for advertising.
Finding a targeted buyer is only the beginning. It’s true that if the product is really good, it will sell itself. However, with many competitors trying to sell to the same buyers, advertisers must be more innovative. They must have more than a picture of the product, and a sign that says “Buy this!” to succeed. They must use their imaginations and modern technology to present their products in an engaging manner.
Two technological events have made the advertisers’ dreams come true, by revolutionising advertising. They are the Open Internet Exchange and Phorm Technology.
Open Internet Exchange
Modern technology has created the perfect showplace for the computing and electronic industries. The Open Internet Exchange places the buyers and sellers in an area that belongs to them. It is the perfect place to introduce new products and sell old products at a reduced price. In addition, it is the businessman’s dream because it offers the opportunity to reduce costs of manufacturing and purchasing. It increases the efficiency of supply chain management.
Phorm Technology Targets Customers
Advertisers who insist that their targeted customer list be valid have the perfect guarantee with u-phorm.com. In order to access this site, you would use the site name. However, if you are randomly searching for sites related to education, schools, training, types of learning and other similar subjects, your profile suggests that you are interested in education.
Since u-phorm.com specialises in kinesthetic learning, you will discover the various ways that they combine learning with physical activity. Without knowing it, you have become a member of the targeted group. With the presentation of their ad, you may decide to take advantage of the training, or you may ignore it.
How it Works
Phorm has contracted with Internet Service Providers to offer a program that tracks a user’s browser to compile user interest content for advertising. The program is free, but the user must choose to use it.
When the program is chosen, a random number is attached to the user’s browser and used to track every website that the user visits. After the user’s interest content is compiled, the user is given the latest information about his search. The web is searched for news stories, blogs and videos so that the user may access the latest information available.
There is no doubt about it. Technology has greatly enhanced how we carry out our businesses today. It’s just one of the beauties of the information age and for this, most of us cannot but thank modern communication technology for the opportunity to work and connect with the whole wide world!
But, think about this…
Is technology really a blessing to your business or you have become so obsessed with it that it has become a curse?
Have you become so engrossed and mesmerized by the tools of information technology that you have quickly forgotten why you bought them in the first place?
Have you forgotten that those tools were to leverage your time and help grow your business?
It’s really unfortunate that many online business entrepreneurs unintentionally have allowed modern technology gadgets and tools to suck the time out of their lives and add needless overhead to their businesses.
As a fellow web entrepreneur interested in your business success, I want to use this article to give you some basic tips on how you can truly make modern day technology a blessing in your online business. My desire is to ensure that you make every cent you will ever spend on your business count. Of course, this may not agree with many but that doesn’t really matter as long as you are able to gain with it. And so, I invite you to read this article all through.
The Story of the Japanese and the Texan
I don’t know if you have heard this story before, but I must say it is one that has a lot of lessons for us as regards what we want to discuss in this article. The story is about a Japanese man and a Texan who were passing through customs at an airport. The Japanese man was said to have with him two large suitcases and the Texan wanting to play the Good Samaritan, offered to help the Japanese move the suitcases toward the customs officers. Just as he was doing this, the Japanese man’s wristwatch started beeping and the man listened to the message and talked through a miniature speaker on the telephone in the wristwatch.
The Texan was amazed and right there offered to purchase the watch for $5,000. But the Japanese declined, saying the watch was not for sale.
The Texan now more interested in the Japanese man continued helping the man to push his heavy bags forward. A few seconds later the watch beeped again and this time the Japanese man opened the watch to receive an email message and then replied same using a small computer contained in the watch. The Texan, awestruck, again offered to purchase the watch but this time for $25,000.
“The watch is not for sale,” the Japanese man again replied.
Now, the Texan could not take the thought of the watch from his mind. To him that wristwatch is just want he wanted right now! And, then as he again helped push the enormous bags forward the watch beeped a third time. This time a long fax came out. The Texan, now more determined to own that watch, offered to purchase it for $300,000.
At this, the Japanese man turned to him and asked if he had the money there. The Texan quickly and eagerly wrote out a check for him. The Japanese man processed the check on the watch and then transferred the money into his Swiss bank account. After this, he took off the watch and handed it to the Texan and walked away.
As he was walking away the Texan realized that the Japanese man had left the enormous bags behind. Turning around he called out to him, “you’re forgetting your bags.”
“Those are not my bags,” the Japanese man shouted back. “They’re the batteries for your watch!”
Alright, so how does this story relate to what I want to discuss with you here?
In many ways! Actually the moral of the story is that the Texan got caught on the wrong side of information technology! And so, my point here is that you should be careful that you don’t fall into the same trap.
To help you avoid this trap here a few tips on how you can make technology to work maximally for your online business.
1. Don’t Invest Your Time Or Money Except If It Adds Value
Every day new and enticing tools and software are being pushed into the market. You must beware that you’re not drawn by them. If you allow yourself to be obsessed or mesmerized, you will end up with gadgets that are nothing but fanciful toys.
Before investing your resources in any tool of technology, ask yourself if it will increase sales, help lower overhead or help in your business effectiveness. If any gadget fails in any of these areas then do not invest your time or money in it.
2. Do Not Become A Slave Of Technology
Many online entrepreneurs have allowed themselves to become slaves of online tools. I’m sure you are very much aware of the distractions we all face every day on the net. Online media, online games, online chatting etc, have become an obsession for many.
As an entrepreneur, you must understand that your time is valuable. You must therefore learn to master these tools so that they do not sabotage your productivity. If possible find ways of automating the use of these tools.
3. Use Inexpensive But Smart Tools Whenever Possible
Why rush to get any technological tool or gadget that hit the market? Do not be deceived, that tool may be the latest right now but with the rate these tools are being turned out, that latest gadget may just be obsolete even before you learn to enjoy its full potentials.
The solution? Decide on what you want done in your business and then go for the tools that will help you with that. The good thing is that there are smart tools that you can pick up online that will help you save both money and time and possibly increase your effectiveness.
4. If You Must Buy It Then Use It To The Fullest
This flows from #3 above. One thing that is clear is that most technological gadgets today can actually perform a whole lot of things. If you must invest your money and time on any of these, then learn to use it to the fullest. There are a hundred and one places online where you can learn about using these tools. There are free tutorials you can access online. Also blogs like the Technology Bloggers, can be of great help.
5. Don’t Get It Before You Need It
As an internet marketer I think I’m progressing in error here but I think your success as an entrepreneur is more important to me than any form of monetary gain.
If you’re subscribed to internet marketing newsletters or you spend a considerable time surfing the net, you will understand that every day new tools and “push button” software are being pushed at us left, right and center by smart internet marketers.
If you’re not focused, you’ll be tempted to believe that if you don’t own that latest tool or software, the world will just be passing you by!
But instead of falling into this trap, ask yourself if you indeed need that tool right now. If not don’t go for it. When you truly do need it, the right tool, and maybe something better, will be available for you!
In a rapidly changing world, technology is essential to effectively compete as a business however, not every tool of technology is worth your time. Spending your time and finance on technology for its sake, will end up as a curse instead of a blessing. Be disciplined and master your use of online tools and gadgets if you want your business to greatly benefit with the latest push button technology.
Over to You: Have you ever invested in a tool or gadget that you later regretted? Are you an online entrepreneur? How are you maximizing your use of technology for your online business? Share your experience with us in the comments below.