Is There a Gene for Business?

PRLog (Press Release) – Dec 26, 2007 – Many of today’s best-known entrepreneurs started their business very young. For example Bill Gates, Richard Branson and Frank and Bill Carney Who started Pizza Hut all started out very young. Starting your own business can be both financially rewarding and deeply satisfying.

After starting my first marketing company, Words Ink, at age 19 while modeling part-time, I found my inspiration to prosper as my underlying means of survival through trial and error. With limited resources and lack of support, I Never Gave Up! As an end result becoming a successful freelance graphics artist, moving forward to my next venture with MASS Wholesalers.

Through my 12 years of experience as a young Female Entrepreneur, I have found scaling a company and maintaining balance both require the discipline to follow sound and strategic processes and the courage to take bold and calculated risks to be successful. If you are too aggressive, your company might make imprudent choices and fail in today’s market.

Competition is everywhere. If you are too slow or cautious, you might miss an opportunity. Take, for example, an Olympic skier, if she goes too fast down the slope, she may risk crashing and burning. Too slow and she might lose the race. It’s all about striking the right balance. Following are 10 business fundamentals that have made me successful.

1) Find, foster and adopt top new talent. Mediocrity doesn’t win Olympic medals, nor will it result in a winning company. While hiring outstanding, dedicated people should be a given for any company leader, it is equally important to create an open environment within the organization that allows top talent to flourish. Motivate and offer encouragement. Support and communication are key factors with new talent!

2) Always Wow the crowd. Never forget that a happy client is an asset far more valuable than simply the revenue they generate. Satisfied customers are your most credible supporters, more powerful influencers than any advertisement, white paper or marketing strategy alone will ever be. Create a picture perfect experience for your clients. Make them remember you.

3) Know when to take short cuts. Building a company with staying power is frequently sought after yet rarely accomplished. Taking short cuts can be tempting, especially when the competition is fierce, but know that not all short cuts are created equal. Don't confuse business fundamentals with key success factors.

4) When you see your opening, move quickly. A great company cannot be built on process alone. As we all know, antiquated, disconnected or bureaucratic organizational procedures can stifle innovation and slow progress to a crawl. If the right decision-making infrastructure is in place, your team should feel confident enough to move quickly – even in chaotic environments –  go out and dominate a market segment.

5) Make your presence on the web. Approximately 148 million people worldwide have access to the World Wide Web. No matter what your business is, you can’t ignore 148 million people. To be a part of that community and show that you are interested in serving them, you need to be on the Web for them. You know your competitors will.

I have found People reading Web sites, for the most part, seek substance over style and usefulness over flash. If you want people to visit, stick around and come back to your small business Web site, give them some substance that in some way shape or form that is related to your content, products or services. The appearance of your Web site is still important in helping establish professionalism and credibility. But the information and other substantive material you provide matter most.

One study, from the Poynter Institute and Stanford University, showed that, unlike with newspapers and magazines, people who read Web news sites typically focus on the text first, looking at photos and graphics afterward. People on the Internet operate in "Internet time" or, in other words, fast. They don't linger over Web pages as they would a newspaper or magazine when drinking a cup of coffee.

Running an online business can be extremely rewarding. Search engine placement is a complex and ever-moving target to hit. To get top placement, you need miles of constant testing, revising and optimizing. Learn the important questions that should shape your search engine optimization strategies to get to the top position. It does not happen overnight.

6) Ask questions. The truth is everyone loves to talk about themselves. When I say ask questions, I don’t mean what is your name or what do you do for living types of questions. I meant real questions that bring up the past, the feeling, the experience and passion out of your new friends. Vice versa, when someone ask you: ‘How are you?’ Don’t just say I am fine then stop there. Speak with sincerity and put some context to your fineness. For Example: I am doing great because I just closed a BIG deal in Boston.

7) Offer and accept help. You can always add values to someone’s life anytime anywhere. Offering help doesn’t mean you have to spend hours of research and work overnight to make things happen. Send your colleagues a thank you note with information you think may be interest to them such as an intriguing article, shocking news or fun facts that could benefit them.

8) Write things down. After a good conversation, ask for a business card. Immediately demonstrate and jot down how you can help or offer your products or services. If your guests do not have their business cards, simply ask for their contact information anyway and write your approaches in a notebook.

9) Set goals and practice them. Goal Setting is critical to your success as a business. Setting your business goals is imperative when you know the outcome you want to achieve.  Start with a list. For example set goals to meet someone new person every week. Follow Up – If you promise someone that you will send them information, do it within the next 24 hours. Demonstrate initiative and be persistent.

10) Network. The true definition of networking is building relationship & rapport with new friends and colleagues while being yourself anywhere anytime. You can benefit from networking in you career and business by going to the relevant places for your specific business or work. This includes exhibitions, presentations, workshops, meetings, club gatherings, and shows related to your career or industry. You should also attend the meetings and presentations where the people that may make use of your services or enhance your career will be shared experience from networks to help you to solve business dilemmas. Networking does take work. Be yourself all the time. You cannot pretend to be an angel at a cocktail party and a bitch at Starbucks yelling at the barista. You never know who is behind you.

In closing, I firmly believe one of the best networking assets a young entrepreneur can have is a mentor but there are some important caveats in relation to this. The mentor needs the right background and a good understanding, if not direct experience, of running an enterprise. Combining the experience of an older entrepreneur with the energy of a young entrepreneur could make a powerful, effective alliance for both partners. More stories about young entrepreneurs can provide encouragement for would-be entrepreneurs and imbue a feeling of camaraderie for existing ones.