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Why Expecting Immediate Results Can Lead to Failure

We live in a world of instant gratification. If we want to find out what time a movie is at, we just pull up the app on our phone. If we want to know how our friend’s vacation in Europe is going, we just check their Facebook or Instagram page. If we want to have a conference call with someone in another country, we just hop on Skype and we can see each other face to face.

No matter what information we need or who we need to talk to, we can do it almost instantly. Having that privilege constantly within our reach has tainted our realistic expectations. We expect everything to happen almost instantly. The reality of the situation is that most of the things in life that are worth having, take time. Patience is a virtue our society is slowly losing.

Kids are graduating high school and college and expecting their dream jobs to fall into their laps. They are going into debt so they have the house and cars their parents have. What they don’t realize is that their parents had to work to earn those things. The big house and nice cars came into their lives over time. You start out with a low paying job and move up in the world. You don’t get you dream home as soon as you graduate.

If you expect to have everything you want when you want it, you will be in for a world of hurt. It’s healthy to want achieve great things in life, but you have to have realistic expectations of when you will achieve them. Take the big house for example. Many young couples are going into debt because they get married […]

Stepping From Dreamer to Entrepreneur

It’s a hot afternoon, you’re sitting in a chair at you kitchen table thinking about the article you just read.  Lines from it take control of your thoughts, “Start you own business”, “Be your own boss”.  You have some good ideas running around in your mind and you’ve dreamt about what it would be like to actually make it happen.  You’ve thought of scenarios, people, places, products, services, etc.  Deep down inside, you know you could do it given the chance.

Well, here’s a little secret for you.  The chance will never be given to you.  You have to take it.  The difference between an entrepreneur and a dreamer is action.

People who dream about starting their own business want someone to walk up to them and say, “Here, I started this company from nothing.  I did it all in your name and now I want to give it to you.”  When you think about it that way, it really does sound ridiculous doesn’t it?  But that is honestly how most people want it to happen.  They aren’t willing to do the work themselves.

You never read stories about dreamers because they don’t do anything.  No one wants to hear about someone who daydreams all the time.  You read stories about people who had successful lives and careers.  About people who did hard things.  About people who made a difference.  They might have started out as dreamers, but they had a little something extra; the ability and desire to act.

You have to decide how badly you want this.  What are you willing to sacrifice to make it happen?  It won’t be easy, but it is possible.

In order to move from a dream to a possibility, you have […]

Keeping Up on Tasks

When I started working my first job, I was surprised to find that a lot of people took forever to finish projects that could easily be done in a few minutes. I couldn’t figure out why this was. At the time, I was struggling to keep up with my life as a full-time student, part-time worker, and a social butterfly. I would run from one thing to the next to get everything done. Everything was listed out and organized in my planner. Every hour of every day was planned.

I didn’t have time to dawdle on my tasks.

I was just getting things done and I was working as quickly and proficiently as I could. If I didn’t organize my schedule just so – I could run into the problem of not having enough time to finish an assignment or I would forget something important. So I just kept going day in and day out – scheduling my hours and working my hardest. Of course there were days when I failed to get everything done and there were times when my assignments were finished just seconds before class. But overall, as I look back, I completed an amazing amount of work in such a short amount of time.

Whenever I had a long list of tasks to complete, I would just jump from one task to the next. While on the other hand, in the instances when I didn’t have as many meetings to attend and I didn’t have as much homework to do, I would stretch out my time and wouldn’t work as proficiently. I got lazy about planning my schedule and I got lazy about keeping up with assignments. I grew to become more like […]

What is Opportunity Cost, and How Does it Affect Planning?

When you’re making important decisions for your company, you have to take a lot of factors into consideration. Every decision comes with costs, and some are more obvious than others. No matter what aspect of your company you’re planning—whether it involves shipping methods, distributors, travel, personnel or anything else—your decisions come with costs and rewards.

While it’s easy to overlook, opportunity cost is a force to be reckoned with. It can have big implications for your company. But what, exactly, is opportunity cost? Simply put, opportunity cost is the value of whatever you give up to make a certain decision. It is involved in every decision any person makes. Sometimes it is monetary and sometimes it is harder to measure, but it always affects our decisions whether we realize it or not.

When we make decisions, we choose to give up something scarce (usually our time or money) in exchange for something we want. We ensure maximum profits by minimizing opportunity cost losses. For example, consider the implications of throwing a party for employees during work time. The monetary costs of throwing a simple party include decorations, food, prizes and maybe some entertainment. However, you must also take into account opportunity cost—by throwing the party, you are reducing productivity and paying employees for work they aren’t doing. This could amount to thousands of dollars lost and is thus a factor to determine when planning your party. You may choose instead to do it after hours or cut the party short to decrease costs.

Once you understand opportunity cost, it’s easy to see how it influences business planning. If you invest $1,000 in a certain stock and lose $500 in the first month, you might think your total loss is $500. However, you have […]

Worth a Thousand Words

If you are selling products online, it is absolutely imperative that you have high quality product photos. If you are selling digital products or professional services, you also need stellar photos on your website. Humans are extremely visual creatures, so you must clearly show what you want to tell. With the right pictures you can reassure your potential customers that you are a professional resource and you have what they need. So what characteristics are necessary for pictures to provide a solid assist to your sales effort?

First, the picture must be clear and sharp. The lighting must be right, not too bright and not too dark. It can be hard to see details if there’s not enough light or too much light. It is generally best to shoot in daylight because it is natural and usually adequate. The best light for shooting photos is early morning or late afternoon. The bright noon-day sun creates dark shadows under the eyes and nose.

Make sure the background of your picture does not detract from the most important part, the image of your item. If you have a messy kitchen or a shirtless uncle in the background, it takes away from the product. If the background is too light when you take the picture, it can fool the camera’s automatic light sensor into thinking it needs to close down the aperture. The result is that your product in the foreground looks dark.

The number of pictures is also important. Normally you want between one and three, but it all depends on the nature and complexity of your product. Ask yourself, “If I was buying this product, what would I want to see?” At the very least you want an image […]

By |November 10th, 2010|Online Business|0 Comments

Resources to Help You Learn How To Use the Internet

If you grew up before the internet was a necessity in every household, you might feel like you have some catching up to do in order to keep pace with current technology.  Technology is developing at an exponential rate and many users feel overwhelmed by the rapid changes. Read on to find out about some great websites that will teach you how to make the most of your internet usage.

How to use a search engine

Without search engines, the vast wealth of knowledge that is available to us online would be useless.  If we can’t find the information we need, it might as well not be there.  Learning how to effectively use search engines is one of the most important skills an internet user can develop.  Here is a link to an article that demystifies search engines:http://www.learnthenet.com/how-to/search-the-web/index.php.  There is even a website dedicated to using one of the most popular search engines in the world: Google.  Check out www.googleguide.com to learn everything you need to know about conducting searches with Google specifically.

How to send an email

Email is one of the most common ways people use the internet.  As a child, I remember having an email service for at least a year before my family finally got an internet service that allowed actual surfing.   A great guide on how to send emails is located here: http://www.learnthenet.com/how-to/send-email/.

How to bookmark a website

In your internet exploring, you will undoubtedly find websites that you want to be able to return to quickly and easily.  Bookmarks are place holders that you can add to a list on your web browser that will allow you to return to your sites with one click.  There are free services that you can use to organize your bookmarks […]

PMI Coaching Talks About Repeat Customers

Getting your business noticed is expensive. As a store owner you’ve likely spent money on signage, ad space, and branding to make sure your customers know your name. Campaigning is an important part of owning a business, but even more crucial to your success is getting the customers who already know your name to come back, and bring their friends. Most business owners get about 80% of their profit from 20% of their customers. Just a 10% increase in customer loyalty could result in a massive 40% increase in overall business. Here are six tips to increase your average of repeat customers:
1. Make sure your product is worth coming back for.
There is really no substitute for a great product at a fair price. Most people wouldn’t be in business if they didn’t believe in their product, but there is always room for improvement. Ask your customers for their opinions on how you can improve, and listen to them – they are, after all, the ones who use your products the most.
2. Communicate with your customers.
Most disappointments customers face are because of misunderstanding – they expect a certain price, or a certain service that you can’t offer. Clear and polite communication of policies and prices at the beginning of a business relationship can manage a customer’s expectations and disappointment – and it can help you weed out customers that may not be right for you.
3. Make your employees happy.
Happy employees treat customers well. Everyone has bad days, but if an employee is disgruntled about their job, they are unlikely to go out of their way to help your business by being nice to customers. Engage your employees in conversation, be patient, and help them feel comfortable coming to […]

By |February 22nd, 2010|Online Business|0 Comments