Mindset. Goal. Action.

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Do You Have the Entrepreneurial Mindset?

What sets entrepreneurs apart from other people is their unique mindset. They’re passionate, dedicated, and they think outside the box. These unique traits aren’t something you’re born with; you can learn the mindset you need to become a successful entrepreneur.

Welcome challenges

Entrepreneurs see fear as a challenge. To be an entrepreneur, you need to love challenges. Overcoming challenges are part of growing and becoming successful. If you’re new to this, then take baby steps and move just a little outside your comfort zone bit by bit. Remember the first time you got up and gave a presentation or sang in front of other people, it was terrifying at first, but once you did it the first time the times after that, it wasn’t so bad.

Learn from everything

Entrepreneurs see absolutely everything as a learning experience, both successes, and failures. Errors and mistakes teach you much more than your successes do. When you fail, you can analyze the failure and figure out what went wrong so that you can do it right the next time. A successful person gets their ego out of the way. They know that if a launch flops, it’s not because of them but something wrong with the product or service or the marketing.

Focus on problem-solving

Entrepreneurs focus on solving problems. It’s how they’re able to create such great products and services. They listen to people and grasp the challenges they’re facing, and then get to work looking for solutions. A customer facing a problem will happily pay for a product or service that solves it.

Network all the time and everywhere

A successful business owner needs to know many different people in many various fields. These valuable contacts can offer you their expertise and help when you need it.

Entrepreneurs talk to everyone everywhere they go and see every person as a potential contact, including people outside of their industry. You never know what kind of person might be valuable to know. If you want to grow your business, get in the habit of getting out of your orbit and meeting new people.

Think beyond the weekly paycheck

Workers get paid for their time or what they produce, but entrepreneurs take a longer-term view. An entrepreneur doesn’t work for their pay. They build a system that generates revenue. To be an entrepreneur, you must break out of the “working for pay” mindset.

Action, not words

Finally, entrepreneurs are action-takers. They’re planners and plan very well, but when it’s time to act, they act decisively. An entrepreneur knows that you learn as you go and do it, not as you sit at a desk.

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How to set up the business basics

Many people get so excited and wrapped up in starting a business that they might forget logistics such as costs of running a business, paying taxes, setting up a legal entity, obtaining insurance, protecting intellectual property rights, creating terms and conditions and privacy policy documentation, and getting paid to complete the process of getting started.

Once you have laid down a foundation for your business that you can build on, an important step is to get down to the nuts and bolts of starting a business. Here are eight things you have to do to set up your business.

Figure out Costs. It doesn’t have to take a great deal of money to start a small business, but there’s usually some investment, and you’ll have to figure out where that money will come from. Costs include things like licenses and permits, legal fees, insurance, marketing, rents or rental fees, event funding, and so on. Create a spreadsheet and brainstorm every single expense you might need.

Set up a Legal Entity. Your business needs to exist as a legal entity. Setting up this part of your business depends on the location where it’s based. Each country and municipality has its own rules for doing this. Part of this step is choosing an official name for your business.

Paying Taxes. Depending on where you set up your business, you’d need to have a plan in place for paying taxes; it can include setting up a tax ID. You’ll need to add filing taxes into your business operations and outsource to a specialist if necessary.

Take Care of Insurance. You’ll have insurance liabilities you’ll need to take care of, such as business premises and any staff that you employ. For a service like coaching or consulting, make sure you have insurance against professional negligence.

Intellectual Property Rights. Secure intellectual property rights over any products you develop and any content you create.

Terms and Conditions. Write out your Terms and Conditions or Terms of Service and prominently display them on your website and other important materials. These should cover areas such as ordering, pricing, delivery, returns and refunds, risk, and confidentiality. Include everything your customer needs to know before buying from you.

State your privacy policy. Write a statement that tells customers how you protect and use their data. Include all the data you gather, store, or manage; it’s an important legal requirement. Regulations are getting progressively stricter, and consumers are increasingly aware of privacy issues, especially when dealing with companies online.

Get paid. Figure out how you’ll get paid for your products and services and set everything up you’ll need for taking payments.

It’s easy to overlook these logistics so be sure to include them on your to-do list as you plan and prepare to launch your business, regardless of what you’re starting.

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The 3 Most Common Personal Growth Barriers

I believe that the key to a lifetime of happiness lies in personal growth. Real and lasting fulfillment in life comes from consistently improving the quality of your life and doing what you love. Since I love reading, I’m always in a hunt for self-improvement books!

Personal growth and self-development are arguably one of the most important things you can do with your time to reveal your true potential and your life purpose. It’s so easy to treat personal development as ‘optional,’ and so few people ever take the time to actively improve themselves.

Your actions are geared towards self-improvement. Everything you do, you do with a positive intent. However, is mostly unconscious and for most people, it’s a case of pursuing ‘things’ and ‘stuff’ with the assumption that when they get enough ‘stuff,’ they’ll be happy.

So why do people fail to participate in their personal growth actively? Well, certain personal growth barriers prevent them from actively progressing in any area of their life. The key word being ‘actively.’

The three most significant personal growth barriers are three interrelated behaviors that tend to keep us immobilized and locked up in inaction. The result being the failure to progress with our lives.

Personal Growth Barrier #1: Procrastination

Procrastination is the unreasonable delay of tasks, especially important ones. On a conscious level, you might want a specific result, and you know what course of action to take, but still, you remain immobilized. The failure to act is what keeps you where you are. Keep in mind that you only procrastinate about tasks that you value and at some level, you know you’ll benefit from it.

Personal Growth Barrier #2: Indecision

A decision precedes every single action. Indecision is like a disease that you have to eradicate from your life. Indecision is merely the result of a fear of failure, and by not making a decision you can’t fail – right? Realize that nothing in the future has happened yet and fearing the worse possible outcome will almost certainly keep you from making the decision. If you don’t make the decisions, you won’t take the actions, and you will remain immobilized.

Personal Growth Barrier #3: Comfort Zones

Comfort zones are all those things that you are too familiar with – and often to the point where you don’t even attempt anything else. Inside your comfort zones, everything is known and you have this sense of certainty that you can comfortably deal with anything that comes your way. You’ve done it before, and you feel ‘at ease’ with it.

Stepping outside your comfort zones challenge your beliefs and perceptions. However, stepping outside your comfort zones, challenges you to grow as a person – you have to grow to get comfortable outside your old comfort zone.

In summary

All barriers are only that – barriers. The barrier to your personal growth is more psychological than actual. They can stop you, but they can’t keep you unless you allow them to. Simply acknowledge them and then move on.

Personal growth is a choice, and it’s an active process. To ensure a happy and fulfilled life that’s filled with joy and appreciation you have to consistently grow and expand yourself, stop procrastination, make quicker decisions, and step out of your comfort zones.

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Seven actions to developing your power – Part Two

If you missed the first seven Power Action tips, you can read them here!

Here are the next seven actions to developing your power.

Power Action #8 – Listen!

Listen to what the other person is telling you. When he or she is talking, give direct eye contact and don’t think about how you are going to respond. Process what they are saying and then formulate your answer. Too many people do not listen when people talk but instead, think about what they will say next and miss most of what that person said.

Power Action #9 – Do Your Homework!

Don’t go into anything unprepared. Plan and organize what you need to do. Checklists work great, reason why pilots use them, so they don’t forget anything! Wasting someone’s time due to poor planning leaves a bad impression. Even a little preparation, if rushed, goes a long way.

Power Action #10 – Be Disciplined!

Physical, mental, emotional, and spiritual discipline is at the core of your being. Work on improving it every single day.

Power Action #11 – Stand Up Straight and Fly Right!

Good posture commands attention. Shoulders back, stomach in, butt in, and direct eye contact give you a commanding presence.

Power Action #12 – Be Compassionate and Caring!

The world is a hard place, but by caring and being compassionate people always make a difference in an otherwise selfish world.

Power Action #13 – Find a Mentor!

Emulate someone you admire. Good role models help us build our unique model of who we are.

Power Action #14 – Associate with Positive People!

If you want to be upbeat, positive, and confident, don’t hang around with petty, nasty, complaining, whiney people. They’ll bring you down if you let them or you’ll become one of them. You know the type, complains at work but does nothing to change their unhappy situation. Life is too short to be pessimistic. Choose people who laugh, have goals and objectives, and are interested in living life to the fullest.

Power Action #15 – Give!

Give your time or money to worthwhile causes. What you give and how much you give will come back to you in spades in all kinds of ways. Misers are unhappy people.

Remember – your attitude determines your altitude in life. It’s never too late to start!

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