Many people have a lot of myths about what being an entrepreneur is and how it will shape/affect their life that are simply not true. Young Black Entrepreneurs In South Africa in Most Popular and these are the seven biggest myths that I continuously hear.
1. Being an Entrepreneur is too risky for me.
Starting your own business in these days is not too much more risky than trying for any other corporate job. At a corporate job you can be laid off at any time, Two Successful Entrepreneur In South Africa have benefits cut with no reason, and work long overtime without being compensated for that. If you are student as well, the risk can’t be that bad. It’s not like you have a mortgage or family to support if it fails.
2. I am too young to start my own company
Being young is not a negative, in fact in most cases it’s a positive! When your young you have the passion energy and enthusiasm that is needed to work 14 hour days day in and day out for a company you believe in. Most older people with more experience just don’t want to do that any more.
3. I have no experience
Again, Young Black Entrepreneurs In South Africa this can work towards your advantage. Your lack of experience means that you are looking at everything with a fresh set of eyes. You wont get stuck in the “we have always done it that way” kind of thinking that can stop other entrepreneurs. Running your own company will also build much more valuable experiences than a job flipping burgers will at your age.
4. It is not the right time for me to launch a business.
As a student you have a schedule that is completely flexible and large blocks of time between classes and on breaks to start a business. Campuses have tons of resources you can harness as well, Famous Successful Entrepreneurs In South Africa so there really has never been a better time than now.
5. If I am running a business my grades will fall.
Running a business takes organization and discipline. If you are organized and disciplined in one area of your life it will probably pass over to the other areas of your life as well. Many student entrepreneurs I know actually report their grades increasing once they started a business.
6. Student businesses are just small rinky-dink operations
Some student business that started as just rinky-dink operations were Dell, Google, and Microsoft. You have probably heard of those companies right? That is because they were great ideas and hard work created products that had potential to expand from their small beginnings. Your business can too!
7. I don’t have any money! I can’t start a company
Everyone seems to think only millionaires start companies. This is simply not true. Most companies are started with the founders savings and no investment capital. Start with what you can and work hard. Things will come together if you want them to come together. You will be amazed at what you can do!
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It is a well-understood axiom of the business world that there are two ways to improve the bottom line of the business. Stated simply, those two ways are to make money or to cut costs. Now no business can cost cut their way to profitability. But by the same token, waste and excessive internal costs for any business can eat away any profits that business is enjoying. So to get ahead in a competitive business environment, both methods must be employed.
When a business turns its eye to cost cutting, there is a stated or unstated business objective that the business owners will discover significant bleeding of revenues that are going on within the systems of doing business. So if those systems can be improved to eliminate that waste, the business would literally make money from the inside out because the overhead of the business would drop so dramatically.
The usual progress of such a cost saving campaign by a business is to find the low hanging fruit first. By that we mean that in order to satisfy the demands of management, middle management will identify superficial savings in hopes of satisfying the requirement. Hence switching from disposable cups to mugs or cutting back on break room amenities often go on the chopping block first.
Sadly, while there may be some superficial savings to be found in such places, the significant introduction of efficiencies for any business lie at a deeper level and take a more in-depth process of locating problems with how things get done internally. The methodology of finding these money pits within a business is often called Process Improvement. The concept of process improvement is to diagram a particular business process from inception to completion and document the stages it goes through, the handing over of authority for the process and to pin point places where inefficient methods are causing excessive cost in executing that process en route to the final stage of process completion.
Routinely, the areas of business structure that most often identified as being candidates for a process improvement examination are
* Excessive overhead between departments. Departments within a business are notorious for taking on the atmosphere of a fiefdom and becoming resistant if not suspicious of other departments in the same company. When that happens, department managers will introduce paperwork and unnecessary processing to cause work to move to his or her department from another or for completed jobs to continue along their path. This excessive overhead can be costly at the department level and bog down the business as a unit enough to actually reduce the profitability of the organization.
* Communication problems. A business process moves through the organization as each department or entity adds value to the process through to the completion of the job. However if communications between departments or people along the process chain are flawed, a process can grind to a halt and wait for hours if not days before the missed communication is discovered and the work is put into the cycle to be completed. This slow down or break down in communications can be a tremendous drain on the company. To correct the problem, modern tools of communication should be reviewed so each significant person along the chain is quickly made aware of work that needs to be done and can signal to the next agent that their step is complete and that the process is moving to the next stage.
* An inefficient IT infrastructure. Out of date computer programs that are not integrated with each other cause needless work to be done to take data from one system and moving it into the next computer program only to be entered again at the next stop along the chain. Standardization and integration of data and systems will introduce huge efficiencies to the process.
By streamlining the process of moving a business requirement from inception to conclusion, we can remove much of the inefficiency and waste that has become inherent to that process. We can introduce up to date integration designs both at the IT and process level to quickly move the process from one department to the next upon completion. The outcome is a streamlined organization that is no longer bleeding money due to inefficiencies and as such is making money from the inside out.
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Difference Between An Affiliate & Super Affiliate
It's a bird, it's a plane, it's Super Affiliate! Corny, but "super affiliate" is the new buzzword for affiliates who are both ambitious and successful at affiliate marketing. There are wild claims online about affiliate marketing: Make Millions Overnight! Never Work Again! Unfortunately, these claims are usually false. To go from being a plain affiliate to super affiliate takes a lot of work. In short, you need to be an affiliate of steel.
The vast majority of affiliate marketing sites online are run by people who have no great interest in turning a huge profit. For example, you'll find thousands of blogs where people put up a few Amazon listings and/or Google links on the off chance that a passing browser will click on them. That's all well and good, but this is no way to make a dent in the affiliate marketing game. To be a super affiliate, you need to treat affiliate marketing as a job, not just something that you do on the side to put a couple of bucks in your pocket.
There is a misconception that affiliate marketing is not a real business. After all, the affiliate is not putting out a product. This is patently false. Even though an affiliate marketer is not manufacturing a product, he or she is still offering the product up for sale. An affiliate marketer still needs to be in charge of search engine optimization, custom content, quality web design, financial management, and everything else that goes into running a successful e-business. As with any business, an affiliate marketing plan is only as strong as the amount of work you put into it.
A super affiliate will be able to turn as hefty a profit as a standard businessseveral sales a day on a number of different fronts. Remember, successful affiliate marketers don't necessarily stop at one site. They set up a variety of affiliate sites with a good web address, quality web design, and lucrative affiliate marketing opportunities. Additionally, once you start selling at an accelerated rate, some affiliate programs will promote you from regular affiliate to super affiliate. If you start sending sales and traffic to a business, they will reward you with better terms.
This isn't an easy proposition, but it is possible. Make sure that an affiliate program has a corresponding super affiliate program in placebetter terms for more sales. Even if they don't, an affiliate with good terms up front can really pay off if you're able to make a several sales a month. Affiliate programs with great terms are also sometimes referred to as super affiliates. Find these and you know you'll have a good marketing in place at the start.
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