The Importance of Staying Grounded as an Entrepreneur

It is very important to stay grounded as an entrepreneur.  The lifestyles and the efforts of an entrepreneur are very interesting, to say the least.  There are a lot of rush, rush, move, move involved with it, and a lot of people are moving and shaking and trying to experience new things and find new ways of succeeding in life.  There are a lot of different factors to entrepreneurship, which is without a doubt a common fact.

There are a lot of different risks and a lot of different ideas being bandied back and forth when one is an entrepreneur.  When one is an entrepreneur, one is going to be rolling with punches, dealing with a lot of different factors, taking risks, getting huge payoffs, and ultimately having to move with the times.  This can lead to entrepreneurs sometimes shooting up too high, hitting hard sports and then crashing and burning because of it.

Tips to Staying Grounded as an Entrepreneur

There are few things I dislike more than seeing an entrepreneur crash and burn.  So, I studied this area and found/came up with a few tips on how to stay grounded as an entrepreneur:

  1. Get stable people around you.  If you are a true entrepreneur, then by your very nature you are something of a wild card.  You need someone who can reel you in and put a little bit of stability into your life.  Do this by getting stable, solid, reliable, focused, and cautious people around you and giving them positions of authority.  These are the individuals who will watch your movements and will caution you if you are about to take a jump that is too great for you.
  2. You will make mistakes.  This is important to accept sooner rather than later.  You need to be totally at peace with the fact that you most definitely will fail along the way in your ventures.  There are a lot of unknowns and a lot of worrying aspects to being an entrepreneur.  Keep these in mind, and push past them.  Just know that you will make mistakes, and try to be preventative about those mistakes.
  3. Don’t abuse your powers.  Your team of workers is your power base.  Don’t abuse the power that they enable you to have.  Remember that you can’t do this on your own, and if you abuse your rights and your powers then you will experience hardship as a result.  Treat all of your employees with respect and dignity and never abuse your leadership privileges.
  4. Don’t be “in it” all the time.  Most entrepreneurs are notorious for insisting on being do it yourselfers.  This is dangerous.  You need to let other people take the reins from time to time.  This will give you a breath of fresh air when you need it most, and will allow you to collect your thoughts and focus on the next, big adventure or step.
  5. Focus on new ideas and diversity.  Never copy someone else.  For an entrepreneur, it is your unique appeal that makes your products or services sell.  Stick to this, and don’t sell out by following or aligning yourself up too closely to someone else’s idea.

I know that sometimes it can be tough to be an entrepreneur.  We are notorious for going with our gut instinct, which is more often than not a really great thing about us.  Sometimes though, we really do need to be able to reel it in and focus on the fundamentals of our venture as opposed to leaping too high and then coming crashing down.

How to Think Like a Successful Entrepreneur

It’s not always easy to be an entrepreneur, and most would agree that there is something special and significant about entrepreneurs and the way that they think and act.  Entrepreneurs have a certain flame and passion and zeal that definitely make them unique, something that many others probably do not have.  Entrepreneurs, to be entrepreneurs, have to be incredibly hard working persons who are not afraid to work long hours, face different problems and issues each and every day, and who are not afraid to take big risks as well.  Entrepreneurs are a special breed, and while some people are just born with these traits, anyone from any background can take on this mentality and find success in the marketplace as a result.

We find that most would agree that entrepreneurs have a lot of work cut out for them at any given moment in their careers.  For the most part, the life of an entrepreneur is a very interesting and random one, with all kind of things going on at once, and lots of different challenges coming up on an almost daily basis too.  So how does one deal with all of this? How does one adopt the mindset and the mentality of an entrepreneur?  How does one take on this role and become successful with it?

There is a special mindset and a way of thinking for entrepreneurs.  That goes without saying.  There is a thought process to be considered here, and a way of thinking and operating that is useful and helpful for the person himself or herself.  Getting a hold of this mindset is truly the first step to becoming a successful and accomplished entrepreneur.

The Mentality of the Entrepreneur

There are a few, key ways and means with which an entrepreneur thinks that are decidedly different from our own thought processes.  For example:

  • Entrepreneurs know how to recognize opportunity.  Have you ever noticed how the most successful entrepreneurs out there just always seemed to be in the right place at the right time?  Isn’t that the truth of the matter.  Entrepreneurs know how to recognize opportunity because they’ve taken the plunge enough time to know when there is a good deal and when there is a bad one.
  • Entrepreneurs are comfortable with risk.  As mentioned above, entrepreneurs are risk takers, and they don’t mind putting it all on the line for a new opportunity or for a bigger payoff.  They are more successful because of these risk-like mentalities.
  • Entrepreneurs are creative and innovative.  This is not to say that entrepreneurs are the only ones out there who are creative and innovative.  But it is to say that entrepreneurs have a special level of creation and innovation that is above and beyond the norm.
  • Entrepreneurs are flexible and adaptable.  An entrepreneur can weather any storm that you put in front of them.  They’ll be able to take it on and come out winning on the other end, whereas others might crumble because of it.
  • Entrepreneurs take the initiative and they think for themselves.  They are leaders, not followers, though they can follow another’s direction when it is the right and wise thing to do.
  • Entrepreneurs are critical thinkers and problems solvers.  Entrepreneurs are the epitome of the breed of men and women who learn from their mistakes.  For an entrepreneur, a mistake is nothing but an opportunity to learn more in a specific area.
  • Entrepreneurs are able to communicate and collaborate with others.  Entrepreneurs do not have to be a one-man show like some business owners tend to be.  Entrepreneurs understand the concept of “buying time.”

These are just some of the traits of an entrepreneur.  There are others.  Start by following these, though, and by trying to apply them to your next project or endeavor. Before you know it, you’ll be thinking and acting like an entrepreneur.

5 Online Tools Every Entrepreneur Needs

Do you ever feel like you might not know enough to be a really good entrepreneur?  Do you ever feel like you are lacking in particular skills and abilities that you need to really excel in the marketplace?  Most of us feel this way at one point or another.  I certainly have from time to time and I still do once in a while.  To a degree, it is healthy to feel inadequate or lacking, as it increases the necessity to grow and to change and to really do something about it once and for all.  Thankfully, we can always learn new things, and as long as we know what we need to learn, we aren’t in as much trouble as we might think we are.

For today’s entrepreneur, for today’s business owner, for today’s start up company’s CEO, for today’s brilliant mastermind businessman or woman, having a knowledge in the online community and how to utilize the internet to make money is absolutely key.  This will really do wonders for a person, and will either be the make or break point for them to a degree.  If an entrepreneur knows the internet and knows it well, he or she can make big money.  If not, he or she can probably still make good money, but it will take longer, and it won’t be quite as lucrative as if entrepreneurs fully utilize the online marketplace.

Five Things You Need to Know to Be Successful Online

There are so many things about being successful online that ultimately make a big difference in one’s ability to be successful online.  In fact, entire courses and study classes are devoted to teaching budding entrepreneurs about the online marketplace.  Good on them for taking such courses.  I would advise a thorough study into this area, as it seems to me that the internet is one of the biggest up and coming online money making generator in the next several years.  It certainly is a big one currently.

From my perspective, here are five things that you should know how to use if you want to make it big on the internet:

  1. Word Press.  This is a pretty important one.  Word Press is a user-friendly utility and tool for designing websites that look great and that operate great.  Familiarize yourself with this tool and you will be able to showcase your products or services online in such a way that looks very professional and sweet.
  2. Next up is Dropbox.  This tool is really invaluable.  It helps people a lot by engaging their understanding in data storage and access.  It is free to use, and it gives people an easy and efficient way to share and use information and data.
  3. Then we have Skype.  Surprisingly enough, a lot of people do not know how to use Skype or the potentials of Skype.  Skype is an excellent and exemplary video chatting program that also has a lot of other great features.  This software allows entrepreneurs to have meetings and business calls, and Skype provides an array of different features for communication too.
  4. Microsoft Office is key.  This is probably the best, if not one of the best, word processors and spreadsheet organizers and creators out there.  Microsoft Office gets the job done and quickly too.  Entrepreneurs can easily type together proposals or letters and an array of other things.  They can use spreadsheets to record data and tabulate business plans.
  5. Facebook Ads.  Facebook ads might cost a bit, but man are they worth it.  Being that Facebook is one of the most heavily trafficked and looked at websites on the planet, it is essentially crucial and necessary that people advertise their products and services there.  Plus it is very easy and user-friendly to do so.

These are just five things that entrepreneurs should know before they tackle the marketplace.  I’m sure there are more.  If one can start with these five and then go up from there, one will be well on the way to business success and meeting their goals left and right too.

The Respectful Way for Entrepreneurs to Get Money from Family and Friends

Any startup will need money to get it going and to get it up off the ground, and the vast majority of entrepreneurs do not have the capital on hand to really get the ball rolling and get it rolling fast.  They need money to get their ideas out there and moving forward, and many entrepreneurs often do not know how to do this well.  Asking for money is not exactly anyone’s favorite thing to do.

When people think of who to talk to about borrowing money for a startup, they often think of their family first.  Any why wouldn’t they?  I certainly have in the past.  The idea is to ask the first person they think will be the kindest to them and have the best chance at giving them a loan, and for many that first person is in fact their family members or loved ones.

But how do you even go about approaching your family members for cash for your startup?  A lot of entrepreneurs struggle at even thinking with this idea.  But it has to be done and it must be done if the person is going to be successful with getting things going with their business idea.

I’ve certainly had my own fair share of experience with asking family members for money, so I like to think that I know a thing or two about it.  Listed below are some of my ideas on how to ask family members and loved ones for money:

1. Ask for a specific amount to meet a specific milestone.  If you can approach a family member with a specific dollar amount that you need for a specific goal project, you can be more successful.  Think about it this way.  Which request sounds better?  “Hey Mom and Dad, I need some money for my startup.”  Or, “Hey Mom and Dad, I need ten-thousand dollars to buy my entire inventory for my new pet supplies business.”  Obviously, family members and friends will be more likely to help you out if they know something of what they are giving you their money for.

2. Offer a formal agreement.  Have you ever lent anyone money with no promise to get it back but a handshake?  You probably felt a little nervous for a time yeah?  I know I’ve been in this position and I’ve definitely felt a little nervous as to whether or not I was going to get that money back.  I was worried, and maybe I didn’t need to be worried but I was.  The fact of the matter is, you can assuage a lot of people’s worries and fears by offering a formal, written contract and agreement that you will pay them back in a certain amount and in a certain period of time.  You will have a much greater chance of them saying yes as a result.

3. Let people see what you are doing and how committed you are.  People will be more likely to help you in this endeavor if they see how hard you yourself have been working on your project.  Show them a demo or some examples of what you’re up to and what you’re all about and you will be more successful at getting their willingness to help you out.

I get that asking for money can be a little daunting.  I get that.  I’ve had to do it many times.  I’ve loaned money to entrepreneurs many times too.  It’s really not as scary as you might think it is.  You can do it, you can make it go right, and you can achieve your dreams if you put your mind to it.

3 Most Respected Entrepreneurs in the US

Out of all the entrepreneurs who are alive today in the United States, we’ve narrowed down the top three most respected – Per Wickstrom, Donald Trump, and Bill Gates. We’ll break it down for you. Read on to learn about what makes these three men the most respected entrepreneurs in the United States.

Per Wickstrom

Per Wickstrom is a highly successful entrepreneur and business executive with decades of experience across multiple industries. He is the founder, CEO, and president of multiple holistic rehabilitation facilities as well as owner of a few specialty car dealerships across the Midwest. Per Wickstrom net worth is a healthy one, as he’s been quite successful in his business pursuits. Media giants like the Huffington Post, Forbes, and Entrepreneur feature Per Wickstrom in some of their work, highlighting his business expertise.

Per Wickstrom is a one-of-a-kind type of guy with the right amount of experience, success, and business savvy to put him at the top of the entrepreneur pyramid. For these reasons, he’s made it onto the short list for the top three most respected entrepreneurs in the united states today.

Bill Gates

Bill Gates is a computer genius mastermind with an empire to back him. He’s a highly successful entrepreneur because when opportunity comes knocking, he always answers the call. He built his empire from the ground up, and he did it without a college degree to support him. His technologies are utilized by companies everywhere. Bill Gates is a disruptor in his industry, which earns him respect from colleagues and the public.

Donald Trump

Despite having no political career aside from his politically incorrect comments, Donald Trump has earned the Republican Presidential Nomination and is an official party candidate for the presidential general election coming up. He rose through the ranks and earned his current spot among businessmen and politicians alike. Per Wickstrom admires Donald Trump for his business savvy and politics.

5 Best Leadership Strategies of CEOs

According to Russell Reynolds Associates’ study on what differentiates CEOs from non-executives, there are nine attributes that effective CEO level leaders exhibit that other non-executives may not necessarily show. When we reviewed the study, our thoughts immediately turned to the highly successful entrepreneur and business executive Per Wickstrom. Per Wickstrom has superior leadership capabilities, which are commonly found among top industry leaders. Russell Reynolds Associates found the following 9 attributes to be distinguished characteristic of CEOs:

  • Willingness to take calculated risks
  • Bias towards action
  • Ability to efficiently “read” people
  • Forward Thinking – the ability to plan for the future
  • Intrepid – the ability to perform effectively in complex and difficult environments
  • Team Building – the ability to achieve success through others
  • Strategic yet tactical
  • Tough yet emotionally sensitive
  • Decisive yet inclusive

Chart

Source: Russell Reynolds Associates

Out of those nine attributes, Per Wickstrom displays every one, and then some. He also values intelligent dissent, challenges conventional thinking, and is mindful of the consequences of his every action, from the micro to the macro level.

We’ve sifted through the research on executive leadership to come up with a list of the most effective CEO leadership strategies. Using Russel Reynolds Associates’ study and various other research we’ve found across the web from places like Forbes and Entrepreneur, we’ve created what we believe to be a condensed list of the 5 best leadership strategies of CEOs. Read on to learn more about the leadership strategies employed by top CEOs that work the best and can work for you too.

  1. Forward thinking and future proofing

CEOs plan for the future and protect their assets against future threats by preparing for what lies ahead. Per Wickstrom is a disruptor in his industry, and disruption is what keeps you ahead of the game and on the cutting edge of your industry. If you stay on top and plan to stay on top effectively, then you’re being a responsible CEO with outstanding leadership strategies, just like Per Wickstrom.

  1. Ability to efficiently ‘read’ people and team building

To be an effective leader, there must be plenty of high quality employees under you. In order to have quality people under you, you must be able to read people efficiently. When you can read people efficiently, you’ll be able to build a comprehensive, well-developed team of high performing individuals who can effectively collaborate as a group working towards the same overall goals.

  1. Willingness to take calculated risks

The difference in risk-taking behaviors between CEOs and non-CEO executives is that CEOS take calculated risks without being impulsive or too risky. Per Wickstrom takes calculated risks, like expanding his business further throughout the Midwest, while less experienced leaders might stagnate or try to grow too much too fast.

  1. Bias towards action

Successful CEO level executive leaders employ a strategy that favors action over inaction. Per Wickstrom, a successful CEO level executive, prefers action over inaction. He isn’t indecisive, which is a great an outstanding leadership trait. Many executives fail because they fail to act on tough decisions. Bias towards action sets CEO leadership strategies apart from the everyday leader.

  1. Challenges conventional thinking

The CEOs who really know what they’re doing challenge conventional thinking and encourage their employees to do the same. They value intelligent dissent, like Per Wickstrom does. CEOS not only have to think outside of the box, they have to completely disregard the box in the name of ingenuity and innovation.

The Most Common Entrepreneurial Traits

According to Per Wickstrom, only about 1 out of every 20 Americans who are interested in entrepreneurship actually make it as entrepreneurs at varying success levels. Many aspiring entrepreneurs lack the motivation or commitment to see their goals and dreams through. Per Wickstrom has what it takes to be a highly successful entrepreneur (he already is one). Do you? Read on to find out the most common entrepreneurial traits and how you stack up.

  1. Love of Learning

Successful entrepreneurs love to learn, and they view every experience as a learning experience. Whether it’s about classic cars, branding, or human resource trends, entrepreneurs want to learn about it all. They store seemingly irrelevant information to call upon later in life should it ever come in handy. Knowing a little bit about a lot is common in entrepreneurs. To successfully run a business, you need to know how to do everyone’s job, or at least have a basic understanding of the work each of your employees does. Per Wickstrom loves to learn, and he’s been hugely successful in his career as an entrepreneur.

  1. Resiliency and Determination

The individuals who actually become entrepreneurs, like Per Wickstrom, don’t give up when things get tough. Starting up a business is no easy task, and there are a huge number of obstacles that can arise during any given startup process. Successful entrepreneurs are resilient and determined. They are committed to achieving their business goals, and they do what it takes to achieve them.

  1. Highly adaptable and flexible

When problems arise, many individuals back off and retreat. They don’t problem solve or get creative about finding solutions. Per Wickstrom is no quitter, and he works hard to solve any problems that come up in his business operations. That’s what successful entrepreneurs do. They adapt as conditions and situations call for it. There is not a single way to reach an end goal, and true entrepreneurs realize this.

  1. Rule-breakers

At heart, entrepreneurs are rule-breakers and innovative thinkers. They aren’t ones to maintain the status quo, but to reinvent it. Entrepreneurs aren’t content to go along with mainstream trends; they live to question what most others take for granted.

  1. Strong Sense of Self

Entrepreneurs know who they are and what they want. Their self-image isn’t easily confused and they surround themselves with like-minded people. In order to succeed, entrepreneurs know they have to be confident in their plans and their ability to successfully carry out those plans. If they allow doubt to creep in, they know that their goals will be pushed further out of reach. Per Wickstrom hasn’t doubted himself, and he’s been wildly successful in business and in life.

  1. Passionate

Per Wickstrom is perhaps one of the most passionate people in the United States, if not the world. His passion fuels his business endeavors, and he’s been entirely successful because of it. An entrepreneur without passion is not an entrepreneur at all. Being passionate might be the most important trait of successful entrepreneurs.