A life spent making mistakes is not only more honourable, but more useful, than a life spent doing nothing.George Bernard ShawAccording to Global Entrepreneurial Monitor (GEM) fear of failure is the top reason given in Ireland and worldwide by aspiring entrepreneurs for not starting their own businesses.NESTA – the National Endowment for Science, Technology and the Arts and the UK’s largest early stage investor in innovative and creative businesses – found that almost three quarters of people who said they had what they believed was a good business idea were not acting on it because they were afraid of not succeeding.Ironically on further examination it is obvious that all would-be entrepreneurs are being paralysed by something that doesn’t exist.That’s right. Failure is a myth! You have already shown that in your own life, you certainly don’t need a motivational speaker to prove this!Entrepreneurial Development – Failure Brings you Closer to Success!Thomas Edison, inventor of the light bulb famously said “I have not failed. I’ve just found 10,000 ways that won’t work.”It took James Dyson, the engineer who reinvented the vacuum cleaner, four and a half years and 5,127 prototypes to refine his design.“Each failure taught me so much,” he said. “Success teaches you nothing. Failures teach you everything. Making mistakes is the most important thing you can do.”In an interview with Time Magazine, Larry Page, inventor of Google, said, “Invariably we try ten things that don’t quite work out in order to do one thing that is successful. And we learn a lot in doing the ten things that didn’t quite work.” Thus every failure brings you a step closer to success and moves you further down the path of entrepreneurship.Ironically by embracing this truism you mastered your first two major challenges in life – walking and talking.Remember: As a child, ‘Never say die’, ‘Have no fear’, ‘Try and try again’, ‘Enjoy the moment’, were your working metaphors.You fixed your eye on the goal, took your first step – wobbled a bit – steadied yourself. Then another step. Then landed on your backside!What happens then? Did you give up? Did you say to yourself ‘I tried my best and I can’t do it. It hurts. I’m never doing that again!’? Did your ego kick in and start whispering ‘you’re making a fool of yourself. They’re all laughing at you! Better quit while you are ahead.’?No indeed, as each one of us is born with an innate desire to reach our full potential, you got up and tried again ultimately succeeding.Model off past  childlike strategies in the future and master the art of entrepreneurship!

Prosperity and happiness would be easy to achieve if we could make correct decisions all day long. Imagine how efficient we would become if we never succumbed to seductive lies. How far could we go if we never got distracted by irrelevancies? How much would we profit if we never wasted time chasing what cannot be accomplished?

An exalted view of permanence and safety can be a constant source of erroneous choices. Human beings seem to suffer from a persistent cognitive distortion that makes them favour all things that are tall, wide, and long. If you think about it, you will find few exceptions to this misconception.

The groundless preference for tall, wide, and long applies equally to space and time. In cities, residents like tall buildings better than small houses. In the countryside, hotels are built next to wide lakes, not little streams. In literature, readers prefer long novels to short stories.

Our belief in permanence and safety is the culmination of our cultural bias towards everything tall, wide, and long. Children stories such as Three Little Pigs teach infants the desirability of solid homes. Career advisers encourage youths to choose well-established professions. Dietitians recommend patients to keep a constant weight.

Safety is presented as the perfect answer to all questions. It is the one solution that fits all types, the one preference that always satisfies. Temporary approaches are considered unwise. Anything transient is to be revised; anything incomplete, despised. Long live the mirage of permanence and safety.

How wrong and how historically false. The truth is that human beings have been leading predictable lives for less than 10.000 years. During the ten-times larger period that preceded agriculture, men and women had few routines and were, in certain aspects, much better off.

Prehistoric hunter-gatherers moved around frequently, carrying their household items with them. A varied diet and daily exercise kept them healthy. Tribes rarely stayed long in one place; their changing habitations made them difficult targets for parasites.

In those days, man lived on the alert. The world was unsafe; the environment, disorderly; man’s attitude, entrepreneurial. Each season brought him new challenges, each territory fresh scents and herbs. To danger, he reacted with prudence; to opportunities, with self-reliance.

Safety made its entrance in man’s life together with agriculture. Land cultivation and animal domestication brought us a steady supply of wheat, rice, corn, and cheese. On the other hand, they also brought us smallpox, influenza, malaria, measles, lice, and vermin.

As soon as human beings built permanent dwellings, rats became their companions. Insects multiplied fed by our blood. Bacteria found a fertile ground to grow; viruses procreated and mutated. Sickness turned to epidemic, illness to pandemic, and disease to morbidity.

Safety possesses a downside of which many people become aware only when it’s too late. Routine has advantages, but it can blind you to innovation. Predictability has benefits, but it can render you passive. Steadiness has charms that can make you forget to profit from the present day.

Viewing regularity as supreme virtue can lead to the demise of independent thinking. The idea of permanence will keep you down if you let it overrule your perception of reality. If you trust routine too strongly, you will develop tunnel vision. If your entrepreneurial skills wane, change will find you unprepared.

Our world looks orderly because we have trained ourselves to disregard inconsistencies. Familiarity does not necessarily breed contempt, but it often renders individuals overconfident. Immigrants that arrive in a new country make observations that puzzle those whose ancestors have lived there for generations.

Watch out for the entrapments of safety so that you do not fall asleep. Our two most precious assets, our health and our mind, depreciate with excessive comfort. Our two most valuable qualities, ambition and persistence, vanish as soon as we take them for granted.

Once a man is born, he is tested and contested until the day he dies. Permanence is for the greatest part an illusion to which we cling too avidly. Most things we do are meant to be temporary; attempting to make them last too long is unnatural and counter-productive.

Civilization has brought us a million gains beyond what prehistoric hunter-gatherers enjoyed. Those benefits should be preserved and enhanced. Let us savour modern life without relinquishing our entrepreneurial spirit.

Science has reduced the impact of sickness so that we can remain free-ranging adventurers. Technology has enlarged the scope of our activities so that we can explore unknown territories. Do not let your longing for permanence and safety paralyse your initiative.

The price that we pay for the pretence of orderliness is too high. Human beings function best when their mind remains flexible and alert. A wise man attains certainty by overcoming contradictions, not by avoiding action.

Security is a desirable goal because it allows individuals to develop their abilities and achieve a comfortable life, but it should not become an excuse for immobility. The purpose of a home is to have place to rest, not a prison to restrain our action. Independent thinking and entrepreneurship lead to personal effectiveness, from which safety is just a side effect.

JOHN VESPASIAN writes about rational living and is the author of the books “When everything fails, try this” and “Rationality is the way to happiness.” He has resided in New York, Madrid, Paris and Munich. His stories reflect the values of entrepreneurship, tolerance and self-reliance. See http://johnvespasian.blogspot.com a blog about rational living.

 

Everything does not depend upon the whim of an entrepreneur. There are some economic and non-economic factors that influences the size of a business entrepreneurship. They are as follows :-

1. Demand for the product : There are some products whoes demand is more and it keeps on increasing. Such products need wide market. Therefore, the size of the business should be large. E.g. iron and steel industries. On the other hand, if demand for a product is less, they can only be sold in the local markets, the size of the business should be small. E.g. Handloom and crafts industries.

2. Nature of the product : Size of a business is greatly influenced by the nature of the product. If the products are perishable in nature, they cannot be marketed in distant places. They need local markets. Hence, small scale businesses are suitable for such products. Moreover, if the customer’s choice and preference gets changed with the fashion, such products cannot keep pace in the markets for a long time. Therefore, they are not produced on large scale. Such items need small scale business entrepreneurship. E.g. food and drinks. On the other hand, the products which are non perishable, standardised, complex in nature and extensively large in size, requires large scale business. E.g. machinery and electronic gadgets.

3. Availability of capital : Large scale business needs adequate funds. As India is a developing country, it is difficult to raise adequate capital for setting up new ventures. However, it is easy to raise fund for small scale businesses as it requires less capital for establishment. Thus the sole-proprietorship and partnership form of business is famous in India.

4. Nature of industry : There are two types of industries; capital-intensive industries and labour-intensive industries. In case of capital intensive industries, large amount of fixed capital is required for establishment and growth. E.g. railway and transport industries. However, in case of labour intensive industries, there is no mechanisation and specialisation degrees. Hence the capital required is less. E.g. cottage industries.

5. Availability of electricity : If the supply of electricity is adequate then large scale industries can develop and run successfully. On the other hand, small scale industries requires less power supply.

6. Cost of transport : Cost of transportation determines the size of the business unit. If the raw materials are transported from distant places to the plant and again the finished goods are transported from plant to the distant markets, the transportation cost will be more. On the other hand, if a new business transports raw material from the local markets and sale the finished products to the nearby markets, the cost of transportation will be less.

7. Laws of returns : In case of the law of diminshing returns, the cost of production will increase with the increase in the output produced by a firm. Such kinds of product cannot grow up, after a certain interval. On the other hand, if the law of increasing returns is applied, the scope of expansion, keeps on increasing.

8. Risk : Large scale businesses are financially sound and it can easily bear any kind of risk. On the other hand, liability is more and it becomes risky to setup small scale businesses.

9. Entrepreneurial ability and efficiency : The ability and efficiency of an entrepreneur greatly affects the buiness. It may happen that the scope of expansion and development of a business is good but the entrepreneur lacks the ability and skill to utilise the opportunity. This may keep the size of the business small. On the other hand, entrepreneurs with the help of his skill and ability has expanded his business to a great extent.

10. Market : If a product can capture both the national and world wide markets, the size of the business will increase. On the other hand, if the product is limited to the local markets, the size of the business will be small.

11. Government regulation : Government has certain rules and policies relating to the size of the business e.g. obtaining licences and taxation policies. Small business undertakings can take the advantage of low taxes. However, before starting any business, entrepreneurs should obtain licence after confirming the standard size of the firm.

12. Influence of environment : Geographical inertia effects the size of the business of a particular country. In case of developed countries like USA, all the businesses whether new or old are in large size. On the other hand, the scope of setting up large buinesses is limited underdeveloped economic countries like in India.

13. Concentration and early start : If a business is started for the first time in a particular area, the scope of expansion is great. Later if the same business is setup, the scope of the business gets decreased.

14. Other factors : There are some other factors that effect the size of the business considerably. The willingness of the entrepreneurs to set up a business is one of the great factor affecting the size of the business. If a business requires skilled labours, it cannot grow up to a large size. If a business is setup to fulfill the requirements of the local people, it will always be in small size, like grocery, saloon, stationery, etc.

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Boston Marketing Agency 451 Marketing is pleased to welcome their newest client, the Massachusetts Office of Small Business Development and Entrepreneurship (OSBE). OSBE has hired the 451 Marketing team to develop an integrated marketing plan that will create awareness of the myriad resources that OSBE’s offers entrepreneurs to help tem start and grow their business in Massachusetts. “We are thrilled to announce that the Massachusetts Office of Small Business Development and Entrepreneurship is our newest client,” said 451 Marketing Founder AJ Gerritson. “As a growing Boston marketing agency that got its start in Massachusetts, we are proud to be working with a state agency committed to helping new businesses thrive in the Commonwealth.” OSBE works with the Commonwealth’s many service providers of technical assistance and financing, as well as directly with small businesses to provide them with the direction and tools they need to succeed. OSBE understands small business needs, provides appropriate programs, and advocates policy that will enable growth and job creation in Massachusetts.451’s team of Inbound Marketing Specialists will offer the OSBE a combination of cutting edge marketing techniques and creative inspiration in order to effectively establish a strategic marketing campaign, enhance their brand, create a quarterly newsletter, redesign their existing web page and reinvent their marketing material. These efforts will develop awareness for the OSBE within their respected communities, which will increase resources available to businesses in Massachuestts. About the Massachusetts Office of Small Business Development and Entreprenuership The Massachusetts Office of Small Business & Entrepreneurship (OSBE) works directly with small businesses to provide an atmosphere of success. They strive to understand small businesses needs, provide appropriate programs, and advocate policies to enable growth and job creation within. Whether a business is in the beginning stages of development or has already been established, with the right information, assistance, and training any company can have the opportunity to thrive and grow in Massachusetts.About 451 Marketing451 Marketing (www.451marketing.com) -The Leader in New Media Communications – is one of the premier Online Lead Generation agencies in the country that utilizes cutting-edge communication techniques on the web. The firm’s areas of expertise include branding, public relations, SEO/PR (search-leveraged public relations), PR 2.0 (public relations through social media), advertising, and marketing. 451 Marketing’s experienced team takes a revenue-centered approach for all of their clients, developing out-of-the-box solutions that solve real business problems and broadcasting clients’ messages effectively to any audience or media outlet. 451’s experienced staff works to produce and implement unique and effective communications strategies that raise and bolster a client’s public profile, while simultaneously driving new leads and business.

A conventional method of earning an honest wage is known by working a conventional job. A job at a typical Monday through Friday, 9 to 5, is what most people have grown accustomed to and sees it as safe. Our current economical flaws have tainted the comfort and security of this, which is why more people now than ever are beginning to realize that the only entity that will truly be honest with them, is themselves. More and more today, people are counting the costs only to discover that what once was secure and promising is nearly a thing of the past.

There was once a time where a person would have had one or two jobs their entire lives. They would work for a company 30 years and retire comfortably. Today, the average person holds job anywhere from 1 to 3 years, if that. The dynamics of the work-force has changed so much to where it seems as if there is no dignity, no respect and no positive outlook on employment. Much of this is not only on the shoulders of employees; employers should bear the burden on this too.

You’ve completed high school, attended and graduated college. Or, college just wasn’t your thing and you discovered other means of survival. You’re educated, marketable and have already drawn a lay-out of how you’re going to climb the corporate ladder. Well, if the company you work for happens to survive another month, it’s not necessarily an indication that your particular position is safe.

Down-sizing, cutting-costs, out-sourcing, internal changes and whatever else they’re calling it is why we need to stop and look around at those that have fallen and start making preparations. Do not panic and start looking for another job. One of two things will happen. You either won’t get the job because no one’s hiring anyway, or, you’ll get the job and be laid-off within a year.

It has become apparent that no one is safe. Every couple of months or so, companies hold periodic budget meetings and this is where they find areas that they can either financially afford to improve on or get rid of altogether. If you’re able to, have your own an exit strategy already in place. Continue to work as usual, but keep in mind that everyday someone gets cut. You may be lucky enough and survive all of this, but there’s so much uncertainty.

One way to slowly transition into the possibility of having to earn your own keep, start taking your hobbies seriously. Sure, there may be some things that you do on the weekends that are pure fun and something to simply pass away the time. But go down the list and see what you find that maybe you can turn into a viable business.

I find entrepreneurship happening in one of four ways:

* After solving one of your own problems and other people coming to you for help.

* Tired of working for other people and following procedures that make absolutely no sense.

* A new way of doing something that already exists but in a more efficient or cost-effective way. Why recreate the wheel?

* Loss of employment.

To help get things moving, here is a list of questions to ask yourself:

* What are some of the things you find yourself doing in your spare time? * What things are you knowledgeable about that keep people coming to you about? * What things do you think about that get you really excited? * What things can you talk about for hours on end? * What did you always want to do for a living, but you ended up getting “a job” to pay the bills? * What can you do with your eyes closed? What can you do without even thinking about it? * What do people always compliment you on? * Even at your job, what do others say you’re really good at doing in the office? * What are some of your favorite movies or music? Maybe you can create an income in entertainment? * Comic Books are big movie-makers today. Maybe you can create a new villain, or good guy. * Like to draw? There you go. * Like to write? There’s another one. * Love to cook? Maybe you can cater, from home. * Always in the mirror yourself or do you enjoy making people look their best? Go into the beauty business. * Do you enjoy business administration? Help more than one company and become a Virtual Assistant, from home. *Do you always have a hard time finding clothes that fit right or shoes that fit right? Create prototypes of what you like, design it and start your own line. I can almost guarantee that whatever issues you’re having, others are too. Solve a problem (strong piece of advice). * Enjoy talking to people and helping them to figure things out? Become and start your own counseling business. Be a personal Coach. * What outdoor activities do you enjoy?

These questions should help give you ideas on where to start and how to think about this. There is tons of information on the internet that can inform you on how to actually get started on your way to entrepreneurship. Best of all, many of these can be done from home.

People go into business for themselves for many reasons. Some have a choice and have the money, and some loose their jobs and have no choice. A lot of us are somewhere in between. Find your place and start living out your dreams. Entrepreneurship is not always easy, but it is very rewarding. Do a lot of research, take good notes and calculate your costs. But the most important thing is to take one step at a time. Time, effort, knowledge and passion for whatever you decide to do, will get you where you want to be at the right time.

Wishing you the best success.

Starting anything new entails risks and demands dedication. Whether you decide to take up playing piano, learning French, or building model aeroplanes, it is going to cost you money, time, and a fair amount of frustration due to inevitable beginner’s mistakes.

Irrespective of the technical difficulties of your chosen endeavour, nothing can be compared to the level of commitment required to get a new business off the ground. The sheer number of different tasks that entrepreneurs must perform, from product development to marketing, is overwhelming.

On the other hand, entrepreneurship possesses three characteristics that render it uniquely inviting and reassuring. No other human activity offers these advantages to its practitioners. It is regrettable that many men and women graduate from their studies without knowledge of these facts:

1.- UNLIMITED POSSIBILITIES: If you spend some time doing research, you will find areas of enterprise that require little or no formal education and negligible start-up investment. By combining elements of your background, knowledge, and personal circumstances, you can come up with innovative business models. In today’s global market, you can subcontract most routine tasks and concentrate on what you do best.

2.- UNLIMITED SCOPE: While many areas of human action impose strict rules to be followed, entrepreneurs remain free to choose their path. North or south, right or left, the business owner can follow his intuition without need to ask for permission. His only arbiters are his cash flow and his customers’ satisfaction. Each entrepreneur determines his own speed and how he will break the barriers to his growth.

3.- UNLIMITED LEARNING: Business is the ideal field for the active mind. No discipline is foreign to the committed entrepreneur. The man who manages his own enterprise is a practical philosopher and a street intellectual. Entrepreneurs’ tolerance of mistakes comes from their experience of dealing with all kinds of people. Creativity and resiliency are skills that entrepreneurs develop by facing daily challenges.

If the great potential of entrepreneurship is so well established, what explains that it is only able to attract a small part of the population? There is one reason, one major obstacle that prevents many from crossing the line. You can name it marketing, distribution, income generation, or simply sales.

The fear of being unable to achieve enough sales is what blocks 99% of those who entertain the idea of becoming entrepreneurs. Other obstacles pale in comparison to this one. If you succeed in getting over this initial hurdle, chances are that your business will be able to face whatever problems might come your way.

Compared with previous centuries, our digital era has not essentially changed the answer to the sales problem. In the field of commerce, like in any other area of life, action is the best antidote against paralysing fear.

Start small, try different things, see what works and what doesn’t. Learn from mistakes, don’t be discouraged, and ignore malevolent criticism. Take limited risks, follow market signals, be persistent, and you will eventually get it right.

JOHN VESPASIAN writes about rational living. He has resided in New York, Madrid, Paris, and Munich. His stories reflect the values of entrepreneurship, tolerance, and self-reliance. See John Vespasian’s blog about rational living.

http://johnvespasian.blogspot.com/