Monthly Archives: September 2010

The Difference Between A Businessman And An Entrepreneur – Which One Are You?

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The Difference Between A Businessman And An Entrepreneur – Which One Are You?

At first glance, there is really no obvious difference between a businessman and an entrepreneur; both are owners of an enterprise or venture. A businessman therefore, is an entrepreneur; and an entrepreneur is a businessman, but what sets them apart from each other is something totally more meaningful. Yes, at first glance they look similar; both heads of a specific company, but the moment you try to understand what they truly are, you will realize that in essence, they are so different from each other. They may be playing the same game; they may be dealt with the same cards; but an entrepreneur will play his cards differently and that is where the big difference between them lies.

Everyone can be a businessman. Everyone who aspires to head or own a venture can do so, as long as he is willed to do it. However, not everyone can be an entrepreneur. An entrepreneur is a whole different species of business owners; the product of a long evolution process that comes only to a select few. Are you a businessman or are you an entrepreneur? By the end of this article, you will have to choose.

The Businessman

A businessman is any person who owns an enterprise or venture. His motivation is to make money and most of the time, they are products of an inheritance, a donation or a franchise purchase. In other words, the businessman takes on something that was already set up in the market. He sees an opportunity, therefore he plunges into it to take advantage of the pool of customers that may come his way. Usually a newbie, he is more comfortable to play it safe. His ideals are traditional and he could be cutthroat; so he is usually lost in the maze and so fails to establish solid relationships outside of his life. He is greedy and power hungry; geared only to the thought of money, so he may have the tendency to neglect the welfare of other people especially his family and friends. Are you a businessman? They are cunning and wise — they succeed; is this what you want to be?

The Entrepreneur

An entrepreneur is a person, who like the businessman, owns an enterprise or venture. Usually motivated by the willingness to serve people; he is not transfixed by power and wealth. An entrepreneur is an innovator. He gives birth to his own ideas and he starts something new, something that is a product of much deliberation and study. He is a person who is not only focused on one goal, but the bigger picture. He takes a holistic approach on everything because he has aims to transform the business world. He is bold and ambitious, but never ridden with the greediness to achieve. Despite the presence of cutthroat competitors in the market, he remains to be happy and enthusiastic — and more importantly, he chooses to stay honest and sincere. His triumphs are also the triumphs of a long string of people. He is not selfish. He is not envious. He is a dreamer. He is a leader. Would you like to be an entrepreneur? Is this how you would like to run your business; with honesty, integrity and compassion?

Which One Are You?

There many businessmen in this world but not all of them are entrepreneurs. However, just because you are not one, does not mean it is your destiny. A businessman can easily be an entrepreneur, especially if he sets his heart to it. As a matter of fact, an entrepreneur is a businessman who has been transformed and molded through time. You can easily be an entrepreneur if you want to be one… it is really all up to you.

Larry McCann


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Stop Self Doubt Before It?

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It is normal for people to doubt themselves. Worrying is normal and it is only human to feel some weakness but you should not let yourself dwell on the negative all the time. You have to believe in the power of the mind; and if you are always pessimistic, then you could draw negative energy towards you. Before anyone can believe in you, you first have to believe in yourself. You need to understand always that you should be in control of your life; if you are the first one heading out of the door, then who is going to help you?

You need to know what you are really capable of and you have to understand that nothing is impossible, especially if you will yourself to do it. So shrug all the doubts aside and face the music. How? Read on to find out.

Find the root of your worries
Whatever it is that is worrying you, is rooted somewhere. Identify the root cause and see what you can do about it. By getting in tune with your emotions, you can effectively find some solutions to avoid it. By unmasking the culprit you will get to embrace your thoughts more and address it.

Redirect the negative thought pattern away from you
After identifying your negative trigger, you can use this knowledge to redirect your attention from it and successfully turn the negative into something positive. You need to find a way to deal with the negative pressures so that when it comes up again you can deal with it differently. You can disregard the negative thought in your mind and turn it into positive energy.

Make a journal of the events in your life
If you are having problems with self-doubt, try to start a journal about your day-to-day experiences. This will be good so you could keep track of the happenings in your life. More so, you can also consider writing a success journal. This is basically an account of the small and big triumphs in your life, that you can use as a motivational tool. It is nice to always be reminded of what you CAN do.

Let go and move forward
There will always be bad days and experiences; that is one thing that you should remember. Life is not always as you would want it to be so learn to move on from those bad experiences and move forward to the next step. Use these instances as a something that you can learn from, rather than as something that will discourage you even more. Bad luck can happen to anyone; you should not dwell on it too much.

Put yourself on a pedestal
Sometimes, you need to put yourself on a pedestal and make yourself the star. Be your own fan and believe in yourself; because if you cannot accept yourself, then how can you make others accept you? You need to learn how to have some faith in what you can do because essentially, it all begins with you.

Larry NcCann


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Solo Endeavor- How to Keep Your Business Profitable

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So you are on your way to setting up your own business. Have you taken full consideration of the risks that you may encounter along the way? It is not that running a business is not good. In fact, it is a good start to learn the art of entrepreneurship and the skill of managing your own money. But before venturing into your small-scale business, make sure that you have already understood the restrictions, limitations, and risk factors that will be encountered in the process. The ultimate goal in every business is profitability. In order to achieve this, you must overcome the challenges of an average business enterprise.

What Every Business Owner Should Know
If you are a solo entrepreneur running your own business in a personalized manner, you might want to consider the following truths although most of these you must already know:
You have to strategize a way out of your business even before you get started. This is planning ahead and preparation for the worst to come. A contingency plan will be very helpful in the future.
It is best to refrain from borrowing your initial investment to set the business up. Debt can be pretty risky, especially that there is no assurance or guarantee of a good return of income for a start-up business.
Realize that the market or the business world is unfriendly and toughly competitive. Large companies may even want to throw you out of the picture so be ready for this.

You are expected to know a lot of things in business. Starting a business with little or barely enough knowledge and business skills will not make you an effective entrepreneur.

How to Keep Your Business Profitable

In your solo flight to managing your own business, here are some tips to focus and maintain profitability:
If you lack certain business competencies, get a business partner you trust to help you out.
Get good advice and tips from successful businesses and find out how they manage to be profitable and successful.
Allocate half of your time selling and marketing your product or service. Be assertive in pushing for your product or service in the light of competition.
Be updated and knowledgeable in financial matters. Always have a daily update of your account payables and receivables.
Be frugal with your expenses. Practicality is needed in spending money especially at the onset of the business.

Know Your Break Even Point

A way to measure profitability is to know the break-even point of your sales or revenues against your expenses. This is very important when strategizing for the net profit. In running a small-scale enterprise, a business owner’s break-even point would be the total cost of running the business and the amount of the salary of the employees. The salary is not a profit but must be a part of the break-even analysis since it is important to the overall operations as well.

Larry McCann


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