Entrepreneur

Starting up your enterprise is a thrilling as well as fulfilling experience. It may present numerous positive aspects for example currently being your manager, placing your program as well as earning money by doing a thing you like. But, to become successful business owner demands thorough preparing, creativity as well as efforts.
Skills that required to being an entrepreneur is as follows. Keep in mind that all the skills are achievable.
“Any act often repeated soon forms a habit; and habit allowed, a steady gain in strength. At first it may be like a spider’s web, easily broken through, but if not resisted, it soon binds us with a chain of steel.”
Tryon Edwards
•Comfortable in having risks: Becoming your personal supervisor does mean you’re usually the one generating challenging options. Entrepreneurship entails anxiety. Be prepared for taking the risk.
•Persuasive: Possibly you have the maximum notion in the world, nevertheless if you cannot convince customers, staff members, and potential financial institutions as well as associates, you might find entrepreneurship being challenging. Make sure to practice to convince the world around you. Practice Practice….. Practice…..
•Able to negotiate: Because a company proprietor, you will need to negotiate everything from rents to contract terms to costs. Slick settlement skills will assist you to spend less and maintain enterprise working easily. In a business profits determine when purchasing time. So negotiation is the backbone of any business.
•Creative: Prepare to think outside the box. Business owners should have the ability to imagine artistically. Should you have observations on what to reap the benefits of brand new options?

Do we need a Budget?

You may think you know where all your money goes, and you don’t need a budget to reduce your expenses. I was in that trap for a very long time. I thought I am not a spender; buy only the things I need. Yes that was right I didn’t spend that much, or I didn’t spend anything that I should spend. So I thought I will keep a track of my income and outgo. I set up my account in Mint.com, so I just watch where all my income ends up. January 2016 onwards I am watching.

After waiting one month, I see that I am not spending what I should spend. Some areas I were spending was not supposed to pay. 

 

If you can get control of the expenses, that you should not spend, but spend because of lack of the data, you can enjoy financial success.

 

Yesterday I was listening to Dan Sullivan and Joe Polish’s Podcast 10x talk(http://10xtalk.com/75/) – Elephants don’t bite. He explains why little things create the big effect? Dan explains that a small nail can change your commute difficult if it penetrates on your car tyre. The little things do count. Cutting what you spend on unwanted items like tools or the materials you brought for the weekend project may be sitting in your garage, may change your fortune.

 

Set long term and short term goals for your life. There are no bad goals or plans here. If it’s important to you, then those are the relevant period. If on the long run if goal A or Plan B failed don’t worry, as Brian Tracy said, there are 27 alphabets in English use another plan.

What is your experience? Did you use a budget?

What to expect from bobythomasmedia

This blog is my communication channel to you. I would love to create a like-minded people around me to get advice and give advice. In this blog, I will share my experiments, what I am working on, etc. You can expect How to grow a leader from childhood, My investments strategies, Travel tips, etc. You will get a sense of radical ways of doing things.

My primary focus in this year will be or if I say in Michael Hyatt way, My current Season is How to grow a leader in your house. I have two boys of 14-year-old and eight years old. My primary focus would be them. I probably take more time to create and implement exercises. This year we will travel more and do some adventures with kids on the way.

I will make some investments this year. You will see more details in my future posts, keep reading and follow me if you can. Last year (2015) we (my beautiful wife and me) bought a new house and we decided to rent our old house. When in reality we sold our house beginning of this year. You will see the details later about why not rent and what was our first home selling profit or loss.

I will say travelling is my weakness. When I was in India, I was craving to travel. I didn’t travel much. Now this year I will take more trips. I heard a lot of travel hacking and using air miles to get free flight tickets. I will try some of the travel hacking methods this year and will give you my experience in details.

Last not least I love gardening. In future, I would purchase some land and start my gardening. I am interested in early retirement and grow your food concept.

My experiments and adventures are endless. These are some of them I remember and it is some I am currently engaging. In future, I will update.

What is your life experiments?