Entrepreneur Questions
We’ve become really good at looking for answers. So good in fact, that we get close to asking
a billion questions every day in Google search. And yet as busy business owners and idea creators, we struggle to find time to ask really important questions of ourselves. Here is the latest we have answered.
What is the biggest mistake you have made in your entrepreneurial career?
During the last 38 years of business experience a countless number of mistakes have been made, of which, many I regret. But the most glaring mistake had been my inability to appreciate the most important people around me. Never before have I heard a statement that is...
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If you wanted to own one of the best plumbing companies in your town within 3 years, what would be your plan of attack?
First of all I would I would need to define the reason I wanted to own this plumbing company. Is it for income, adding to existing businesses, ego or as simple as “I just want to own a great plumbing company”. In addition what is the reason these companies are the...
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Are there any industries that you think is a great place to start a business?
There is no one industry that I would recommend to start your business. There should be some defining factors associated with your chosen Entrepreneurial adventure. These questions you should ask yourself: Do you want to be in a service or product driven business...
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Why did you decide to start your first business?
I never really knew what I wanted to do when I grew up, but there were signs along the way that freedom and the control of my own destiny could never be achieved unless self-employment lingered in the future. Not really knowing what business type would be well suited...
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My business has not grown in 3 years, what can I do to get it to the next level?
A lot of the time your business doesn’t grow because of you. There are lost of issues for slow growth, but they must be reflected on in a logical and honest manner to determine why your business has not grown. Many of the reasons for slow growth are: Lack of vision,...
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How long would you work with an idea before giving up and moving on to another one?
Ideas are a dime a dozen, but once in awhile you are exposed to some fantastic opportunities, the entrepreneur mindset has to be constantly in tune, and sensitive to new ideas. To determine the viability of an idea you need to ask yourself the following: Can I...
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What do you think is going to happen to the economy in the next 5 years?
The economy has been on a roller coaster the last several years, but recently it has exhibited some great growth potential and business opportunities. Look to the millennial’s for their unique skill sets, and be open to industries we are not currently aware of. It’s...
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Say my business is going pretty well and I think I need to hire. Who should I hire first?
Hiring employees has been an age-old problem to determine when they are needed. There are a number of reasons for hiring employees: increase sales, better customer service, business owner time off, expanding your service area and replacing existing employees. When you...
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What is the secret to selling?
The best entrepreneurs are salesmen at heart, and have honed their craft over many years to accomplish the greatness they have achieved. The secret of selling is that “there is no secret.” There are thousands of books that have been written about sales, by men/women...
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What is your favorite type of marketing?
There are many types of effective marketing, but some are better for certain businesses than others. In the current firm I work with we spend large amounts of capital on Radio, educational workshops, Printed media and Internet marketing. But, my preferential type of...
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Should I look for a partner to share the workload?
The purpose of a partner is not to share the workload- an employee can do that. A partner needs to be invested with you and share your vision for the future. How big do you want to be? How much success do you want to have? Will a partners skills compliment yours so...
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Do you have any advice on branding?
Branding is crucial to your business identity and marketing ability. From pens to cups and from wine to vases- make sure everything is branded to your company. Your name on various items will instill uniqueness to your customers that your competitors have not yet...
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