What to do when faced with a Dilemma

Hey Everyone, I’m back. I initially set up this blog due to some ideas I had last year regarding entrepreneurship and thought that I could share information with my fellow entrepreneurs. There is a lot that has happened since I did my first post. There was a lot that was happening and I tried to do too many things all at once.

I have since scaled back and have revamped with a new focus. My wife and I have joined forces to grow our current businesses through Social Media and Online marketing. The platforms that we are using are Facebook, LinkedIn and Youtube.

Video is now the most important way to get your message across and I have taken steps to make the most of it. I have become Cameraman, Editor and Online Support. You may ask how in the World are you able to do this; my businesses are my 9 -5. I get up before the crack of dawn most days and get my work done. I have to treat my business just like I did my job.

There is so much I have learnt and continue to learn Online Marketing and the techniques needed to grow our business. It has been a “Heck” of a ride so far and I only foresee things getting better as it goes along.

I will be sharing more about the growth of my business and my experiences learnt along the way.

Here’s to Your Success.

P.S. check me out on Youtube ……search Cathy & Courtney Shim….see you online

Are you dedicated to your Journey?

Dedication (n.) – the quality of being dedicated or committed to a task or purpose. What is your purpose? I started my blog this past summer and truth being told, I have not been dedicated to my blog or my core business. I am currently in another venture which has some great potential however it requires a lot of input.

I am dedicated to not being an employee in the future and as I have mentioned before I left that realm over 2 years ago. As an entrepreneur, I have yet to get a realistic grasp on scheduling my time so I will be able to have time for all my business ventures. I have been mulling it over in my head for a few weeks now and have decided that I am not as dedicated to my work as I should be.

Once this hurdle has been surpassed, I should see the results I’ve expected to gain from my hard work. My wife does a part-time business and she has dedicated herself to a schedule which is working for her and she recently mentioned, “Working smarter not harder” is where we want to be and this has resonated with me ever since.

Looking forward to the continuation of my journey and wishing all great success in your endeavours.

 

Finding your Ideal Client

What would you give to have your ideal client at all times? This is a question anyone who has thought of starting a business would have considered. Who are you looking for? It is said for you to have success in business, your product or service should be something that people need.

Once it has been decided what product or service you will be offering then you focus on marketing to your target audience. Do you know your audience? How will you reach them? Who needs your product or service?

For any form of promotion, you would first approach the persons who are a part of your circle of family and friends. Your next step would be possibly advertising via traditional media. The other ways chosen by many including established businesses is the realm of Social Media.

Social media gives you a wide reach  as there are so many subscribers on the many widely used platforms. Take Facebook for example, I received a recent notification close to the end of June to early July regarding a subscriber milestone of 2 Billion; you read correctly 2 Billion which is a quarter of the World’s total population so this should tell you something. Social media is still a new way to market any product or service however I have noticed all the major brands have embraced it as they realize that this is where you find any demographic that you would want to reach.

For traditional media such as Radio, Television and Newspapers, the cost is prohibitive to a new business venture as this is a space occupied by the larger corporations. Another thing to consider is the reach of these media; when was the last time you watched TV, listened to the Radio or bought and read a Newspaper? I personally have not watched traditional TV since “cutting the cord” for alternatives such as Netflix. The Radio is much the same as I very rarely listen to it as I subscribe to SiriusXM and also listen to personal development CDs. The newspaper is a medium which to me does not have the reach it might have once had.

On a final note, it is up to you to decide how you will go about finding your client base after all you know the client whom you seek. There are a lot of resources to assist us as business persons. I usually go to Amazon Canada’s website and search for books etc to assist me, you could try it too.

 

How Do You Finance Your Business Venture

When you decide to become an entrepreneur, one of the major hurdles most entrepreneurs face is the financing of their idea. This is key to the realization of your idea becoming a reality as there are different businesses that rise from the ideas from each of us. In many cases, the entrepreneur has the following choices:

  1. Franchise
  2. Technology
  3. Network Marketing
  4. Service
  5. Agriculture
  6. Construction
  7. Retail/Wholesale

 

Whatever business embarked upon by the entrepreneur, there has to be a plan in place. You will see the necessity of having a timeline from idea to end product; therefore you will have an appropriate step-by-step process in mind. This is where a business plan comes in; ask any entrepreneur in the traditional sense and they will tell you that this is typically the first thing that is inquired about.

 

Once the business plan is written, the time comes to inquire about financing your idea. The first stop for financing is normally the Bank, however it may not be in terms of a loan. In many cases if the entrepreneur has residential property, they may be able to secure a Home Equity Line of Credit.

 

Another means of financing which is a means of financing an entrepreneur’s idea is through Venture Capital. Your idea is presently to investors who look at the feasibility of the proposal then they will put stipulations in place such as shares in the proposed business or return on investment (ROI).

 

Another form of financing could be from Family members but such arrangements need to be properly drafted in my opinion to protect all parties involved. This is based on what I’ve seen experienced when family members are involved in business together.

 

Some businesses such as Network Marketing require a minimal investment in most cases up to a maximum of around $1500.

I would suggest before starting any business, seek to gather as much information from persons who have had success in whichever venture you choose.

To sum it all up, any business venture you decide to embark upon will require an investment of capital.

 

Why Blogging? A continuation of my Entrepreneurial Journey

Today marks the continuation of my journey as an Entrepreneur. This is something that I have given much thought to, as I knew that I have a lot more to offer to the world around me. Have you ever given this some thought? I have and I said to myself, “Courtney, stop thinking and take action”.

I recently listened to a webinar where the host mentioned a “Mind Dump”. This is the start of my Mind Dump as I have a lot of information which has been acquired throughout my years of schooling and my work life. Did I mention my entrepreneurial journey?

There are a number of things which I should mention; I have worked for someone else for the greater part of my adult life and have been in the position of being downsized on a number of occasions until it finally occurred in July 2015. The decision to embark on my current journey was to avoid being downsized and adhering to what I had started to consider as unreasonable conditions with which I was faced. Have you ever reached your breaking point? I think I was approaching that and was looking for a way out so there was a light at the end of the Job tunnel.

One of my mentors has said it best, “If it’s to be, it’s up to me”. When it was said I did not know who originally said it but have since found it attributed to Robert Schuller. My success on this journey is dependent on me and I have decided that I will share as much information to help my fellow entrepreneurs on their journeys.

Until next time, I would like to recommend reading “Think and Grow Rich” by Napoleon Hill as this was one  of the first Personal Development books which I bought and continue to read.

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