Entrepreneur TNT

You just signed up your first “platinum” client and you’re both excited to get to work. The first month is a breeze and you’re thinking, “Why don’t I have more woman entrepreneur clients just like this one?” when your assistant notifies you that your super-star client’s credit card just bounced.

“Uh-oh,” you think. “Was it just me who thought we were doing so well?” You’re uncomfortable, you begin to doubt yourself or your abilities and on top of all the emotional upheaval, you’re now wondering how you’re going to handle this sticky money situation.

Sticky money situations in business include bounced payments, late payments, requests for refunds, program cancellations and postponements, changes in a client’s circumstances and even disappearing clients.

How you handle these situations impacts more than your cash flow. Depending on the choices you make, you can strengthen your connection to your soul’s values, increase your integrity, raise your confidence as a woman entrepreneur and yes, even salvage your client relationship plus get you paid.

Here are six quick tips that I’ve learned as a business coach to gracefully and authentically handle sticky money situations in business:

Business Coaching Tip #1: Understand
Understand that your feelings of anger, betrayal, resentment or self-doubt are simply a smoke-screen for what’s really going on below the surface. Your client’s actions aren’t personal and have nothing to do with you. Once you stop taking it personally you’ll see you have several options for handling the situation.

Business Coaching Tip #2: Compassion
Put yourself in the other person’s shoes just for a moment. If you were her, how would you be feeling? You don’t have to condone her behavior but if you can momentarily see the situation from her eyes, you’ll gain the upper hand and can negotiate a solution like a successful entrepreneur.

Business Coaching Tip #3: Perspective
Ask yourself, “What is the worst that can happen?” Often, just asking yourself this question helps put the situation into perspective. Sure, not being paid is a drag, but in the grand scheme of things, will it make a difference for you long term?

Business Coaching Tip #4: Truth
When you speak to your client about the situation don’t mince words, don’t try to make it better for them or defend yourself. Simply state the facts, then pause and let them respond.

For example, earlier this year a business coaching client’s credit card bounced two months in a row. I simply said to her, “This is the second month your payment has bounced, what’s going on?” That opening gave her the opportunity to explain the problems she was having in her personal life and the chance for her and me to make alternate arrangements.

Tip #5: Boundaries
When it comes to sticky money situations the woman entrepreneur often sidesteps making direct requests. You have every right to straight-forwardly request: “I need you to honor our agreement and make sure I receive payment in full by Friday. How do you plan to make that happen? And for goodness sakes, no successful entrepreneur continues to deliver services on a promise when what she is owed is a payment!

Tip #6: Forgive
Forgive yourself! Successful entrepreneurs consider encounters with sticky money situations as opportunities to clean up money values and boundaries. Learning isn’t always free and my experience as a business coach has been that the expensive lessons are the ones that stick!

While no one relishes sticky money situations, you now have a simple system for addressing them quickly and confidently. A “money and soul” based business means you respond first to the integrity of your own soul, and then respond with integrity to the situation at hand. Remember this and you can’t go wrong, no matter how sticky the situation!

Promos are considered one of the most effective and cheapest means for marketing. Corporate gifts or promos are not very expensive and can be less than a dollar as well. According to the reports of an Advertising Specialty Industry, around 56% of people keep the promos, while 58% of the people remember name of the company printed on the promos. Promos are cost-effective means of advertising brand image of your business. This article discusses about some useful tips on how you can make the most of promos for a campaign.

You should be aware of the wants and desires of your prospective clients:

Promos that you use must be market driven. It is very important customers appreciate the promos that you give out; as this will help you increase your customer base. Therefore, what you can do is, make the promotional products the way your clients expect them to be. You will have to spend time conducting research, when it comes to determining the right promos.

You must be very cautious all through the process, because business organizations have the tendency of losing their core message in their attempt to target niche audiences. Your brand identity must be clearly expressed in advertising merchandise so that people wont have any problem getting the message you want to promote.

Remember less is more:

You should keep in mind the concept of less is more while designing promos for marketing. You should keep the text and color to the minimum to attract attention of prospective clients. Too many colors and words tend to make the promos look messy and chaotic. There is amazing elegance in simplicity and this helps you effectively project your business message to your clients. Untidy presentation shows lack of professionalism and leaves behind a negative image in minds of the clients.

Many consider bargaining or haggling a desperate act in business. It is actually a business negotiation process that a wise entrepreneur does to cut down the overall cost. Once you are aware of the basic negotiation skills, you will be able to save substantial amount of money.

Some of the commonly used promos include T-shirts, pens, gym bags, mugs, and other useful pieces of merchandise. Targeted promos for your customers generate more sales and help attract attention of clients to your site. Make sure to give out good quality freebies, as your company image will crumble down when you offer cheap promos.

Using promos for marketing is one of the most affordable means to increase your profit margins and improve your business. So, keep in mind the three useful abovementioned pointers and create a brand image of your business with promos or promotional gifts. You will be amazed to take your business products and services to an altogether new height with such promotional items.

Entrepreneur, founder of Vizagrecruits better known as VR” in the corporate circle. This small business consulting company in Visakhapatnam has been backed with a team having skills & expertise in various functional areas like HR, Sales, Marketing, etc & having working with several Industry verticals like FMCG, Education, IT, Telecom, etc.

I myself have been associated with a Sales Background, working out with several Multinational companies before starting of a number of small businesses myself & becoming a successful entrepreneur. Now we have started providing consultation to several start-up entrepreneurs like you who wish Setting up Business in Visakhapatnam.

If you are a first time visitor to this blog and interested in setting up a Business in Visakhapatnam, then there is plenty of “FREE” information here that will help you. If you are planning to become an Entrepreneur, then Vizagrecruits is here to help. The benefits you will receive are well worth your investment on us.

We have been offering online and on-site business consulting to interested clients. We are covering every step for successful setting up a business in Visakhapatnam or Setting up a business anywhere. We also help start-up companies in Visakhapatnam Setting up a marketing department or setting up a HR department, Promoting your Business online. VR gives you what you need.

Having your own business of course gives you the power to working on your own timings, get free from bosses or other constraints that are faced being an employee. That is the why we all love being an Entrepreneur.

In the road for starting and setting up a business in Visakhapatnam, there will be a need of a Guide such as a Business Consultant who can act like a Mentor or friend to support you in reaching your destination. VR can be your trusted Mentor & provide solutions to all your business problems ensuring that your business keeps growing. So, thanks for visiting us and have a great Entrepreneurial journey.

For More Details Visit: http://www.vizagrecruits.com/articles.htm

Characteristics of an Entrepreneur

What is an entrepreneur? According to Wikipedia, an entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. To translate it into simple terms, an entrepreneur owns a business of which the entrepreneur is responsible for the risks and outcomes. To be an entrepreneur, one has to possess defined characteristics of an entrepreneur.

What are the characteristics of an entrepreneur? Are these characteristics vital? It’s a no-brainer actually, of course it’s important! Your chances of business success is significantly lower if you do not possess these characteristics. The characteristics of an entrepreneur consists of:

1. Good leadership

Leadership is a rare characteristic. It is very hard to find individuals with good leadership qualities. This is because not many people dare to take responsibility, or take the lead. Alan Keith of Genetech once said, “Leadership is ultimately about creating a way for people to contribute to making something extraordinary happen.” Precise and right to the point.

To be a good entrepreneur, you must be a leader. You must be able to guide, direct, influence and affect people. This way, all your business problems can be overcomed with ease.

2. Risk taker

All businesses involve risks. There is not a single business in the known world right now that is 100% risk-free. You can’t make money if you are not willing to take risks. If you are not willing to take risks, then you are bound to fail in the business world.

But, a successful entrepreneur does not take all the risks he faces. All risks must be evaluated first, before taking the dive. You wouldn’t want to dive into some unknown waters, would you?

3. Honest and Trustworthy

This is an undeniable characteristic that all entrepreneurs MUST have. Let’s face it, would you give your money to some stranger that guarantees you to make 1000% profit on the street? No you would not. Maybe if that stranger asked for $10 dollars or he convinced you with hard facts, you would, but that’s out of the case. As the saying goes,”Honesty is the best policy.” Every one likes honest and trustworthy people.

Being honest and trustworthy is considered one of your most important characteristics. It would take years to build your credibility and honesty, but it would take just a few seconds to totally destroy your image should you do something dishonest.

4. Your Passion

Your passion fuels your actions. And your actions make money. Any entrepreneur should be passionate about their business to be able to perform well. You must maintain your enthusiasm and interest in your field. For example, when making money online is your passion, you wouldn’t feel working even if you stick yourself to the monitor 24hours a day.

Your passion makes it easy for you to act. Working no longer means working when you work with your passion. It just means doing something you like. If you like to play games and playing games is your 12-hour job, it certainly wouldn’t feel like working 12 hours a day.

5. Intelligence

No, I don’t mean you need to have exceptionally high IQ to success. But what I mean is that an entrepreneur should be clever and witty in all your business dealings. You have to show that you are concentrated and 100% focused on your job to be able to gain your clients’ respect and trust.

The world is a mean one. Scammers are out there somewhere, preying for a weak target everyday. To resist being scammed or being duped, an entrepreneur should be smart and be alert of who you are dealing with. If not, you would eventually suffer some uncalculated losses.

These are one of the few characteristics of a successful business entrepreneur. These characteristics will, no doubt, help you overcome obstacles you may have to face when you are operating a business. And without these characteristics, your business may eventually fail and you will have to bear the losses.

What if you have the main characteristics of an entrepreneur already? Then study the market, find a solution or make a product, get some capital and you’re ready to make a killing in the ever-changing world of business.

Nelson Mezerhane Miami is a dedicated businessman with years of experience under his belt. He is a hard worker who has always shown an unwavering conviction to continue on, to incorporate new investment in a period of social, ethical and professional and personal perseverance. He is a seasoned entrepreneur who believed in the potential of Venezuelan economy. Nelson takes risks and participates in the various areas of the country’s economy with a clear objective to generate welfare, progress and profitability in all endeavors. He is believer of the highest moral and ethical values necessary to generate the momentum that economy requires.

In the -90s, when many deserted to the uncertainty, Nelson Mezerhane Miami decided to expand his domestic and foreign investment, create jobs and business opportunities in a country that called for greater involvement of the Venezuelan business. He made important investments in what he always called renewable natural resource of land: its people and natural landscapes. His major investments included tourism, communications sector, automotive, real estate, oil, mining and services. He insists that all employers are required to drive change and utilize solutions that help to create more employment opportunities, wealth, progress and prosperity for all Venezuelans. He also urged his colleagues to support the business leaders. Nelson is recognized for his excellent entrepreneurial skills and the undying sincerity to continue on in every circumstance.

Nelson Mezerhane Miami was granted recognition as “Entrepreneur of the Year” as a part of the Annual Assembly LXIV Fedecamaras. On earning this distinction, he expressed his identification with the business association and their willingness to work. He has always remained optimistic, no matter how difficult the circumstances are. He continues to work as a faithful representative of the business association. He said that he was fortunate to lead a group of companies and is the President of the Group of Companies Mezerhane and Federal Financial Group. He has been ranked by his peers, competitors, friends as well as associates as a hard worker and a visionary. To know more about business works of Nelson Mezerhane, please browse through http://www.mezerhane.com.