The last few years have brought some of the most dramatic and meaningful change to business operations and services that we’ve ever seen. With the accelerated maturation of smartphones, tablets, and other mobile devices, it’s not only possible, it is actually common, to find entrepreneurs who conduct their business operations without offices, staff, or any office hardware beyond what they can carry in a messenger bag. These business owners are known as “Mobile Entrepreneurs,” and they’re taking over in just about every industry as they prove to be more flexible, more readily available to new and current clients, and overall quicker to respond to business opportunities. In this week’s Davinci 101, we take a quick look at the mobile entrepreneur’s tools of the trade.
Today’s mobile entrepreneur needs very little to get a lot done. The essential tools include: a smartphone, a virtual office, a personal computer, a tablet, and a live receptionist service. Read more...
The life of an entrepreneur isn’t for everyone. It requires a lot of passion, dedication, and independence. Simply put, it is not for the faint of heart. However, it can be incredibly rewarding when a business idea takes off.
If you are thinking about starting your own business, consider ten signs the entrepreneur life is right for you:
You’re a thinker.
Entrepreneurs are always thinking, whether it’s about an exciting idea for a new product or service, or how to innovate in a competitive industry. If you daydream about starting your own business, you would find comfort in finding ways to implement all of your great ideas as an entrepreneur. Read more...
Going solo is a very appealing venture for many real estate agents currently under the umbrella of a bigger broker or firm, but it’s also surrounded by a lot of stigma within the industry.
However, there is much to be gained by leaving a company and deciding to make it on your own, like newfound freedom, independence, and yes—even higher salaries. Many of the cases against going it on your own are perpetuated by five lies:
“You can’t afford the operation costs.”
Starting your own real estate business does have certain costs, but with proper planning, operating costs should not extend past general start up costs. On average, start up costs can run about $1,500-$2,000 for necessities like licensing and insurance. However, if you operate your business from the home, rent an office cubicle or meeting rooms as needed, operating costs can be as low as $50-$100 per month. Read more...
Small talk serves a great purpose. Good small talk helps create a deeper bond, especially in business settings. Unfortunately, no matter how seasoned of a conversationalist you are, sometimes business conversations can seem awkward or forced.
To help you out, here are five simple things you can do to get the conversation flowing and make a truly meaningful client connection:
One of the simplest ways to make meaningful client connections is to express curiosity. Did they say something clever or interesting? Ask them to elaborate. Did they make a passing comment about their family or their plans for the weekend? Ask about the details. Asking good questions demonstrates that you are actively engaged in the conversation and deepens the bond between you and your client, even if it’s off topic, so don’t be afraid of asking questions that don’t pertain to business.
Examples: Read more...
In every industry, most small business startups fail, and no matter what we tell ourselves, it’s not simply because of bad luck.
Startups fail for a variety of reasons, but they are always attributed to specific miscalculations. When a small business fails, either right after take-off or farther along the company’s life-cycle, it’s likely because of one of these five reasons:
Bad business model
Often, entrepreneurs are overly optimistic, and unfortunately, the “If we build it, they will come” mentality is not a sound business model. Acquiring customers takes time and strategic marketing. You may have a great product, site, or service, but without a great business model, it will not hold your small business afloat. Read more...
We live in a society that demands commitment to be successful, but putting in too many hours is actually detrimental to your health. Employees that work at least eleven hours a day have a higher risk of depression, cardiovascular issues, insomnia, and even early onset dementia.
It’s important to balance work and your life outside of it, not only for your sanity, but also to increase efficiency at work. But when you are the owner of a home-based business, sometimes it might seem impossible to separate your two lives when they share the same space.
With these work life balance tips, you can create a perfect balance between work and your personal life:
Dress for work
If you don’t treat your home-based business like a real workplace, then it’s not going to be a very productive space in which to work. While some business owners like to take advantage of working from home by staying in their pajamas all day, this may not be the best option for someone who wants to stay professional and efficient. Read more...
There are several things you need to start a successful business: a great business plan, the necessary funds, and of course, the right personality.
Successful entrepreneurs’ personalities vary from one to another: they don’t all derive from the same mold. Looking closely, however, you’ll see that many successful entrepreneurs share a similar set of core personality traits. Developing the core traits of successful entrepreneurs will give you a greater potential to lead a prosperous business.
The first trait shouldn’t surprise you. To effectively make sales, pitches, and proposals, an entrepreneur must be overflowing with confidence. It is rare that you will find a successful entrepreneur mired in self-doubt. They believe in themselves, their employees, and their business’s purpose, and it is made very apparent in all of their encounters. This includes a penchant for conversation, strong belief in one’s self and their business, and a natural air of trustworthiness that encourages others to engage and invest in their company. Read more...
It is said that most people decide whether they like you within the first seven seconds of meeting you. Unfortunately, that doesn’t give a lot of time to make a positive first impression. However, there are five things you can do to invoke a great initial reaction during those seven seconds, and continue to reinforce that positive reaction for the rest of your encounter.
Dress for success
The first thing someone may notice when meeting you for the first time is what you look like. Many people form an opinion about someone based on their appearance, and this is especially true in a business setting. Before you meet with a client or potential customer, be sure that you are well groomed and dressed for success. This will communicate that you are a highly professional individual, which is the foremost sought after trait in someone with whom others want to conduct business. Read more...
Do you know how much your time is worth? If you crunched the numbers, do you know how much money you are losing when you focus on tasks that can easily be delegated to others?
As an entrepreneur, you wear a lot of different hats, and sometimes it can feel overwhelming because it seems like you have to do everything yourself. Fortunately, there are affordable services available to business owners so that they can save time and money by doing the work they do best.
Calculate the cost of your time
Before you begin strategizing how to best manage your time, use this calculator to determine what your time is worth and how much of it is spent on administrative tasks. How many hours of productivity are lost? And what is that costing your business per month? The results can be shocking. Read more...
You are an entrepreneur and owner of a budding new business. You want to expand your business’s reach, but you don’t want to spend a lot of money to do it. So, what is the secret? How can you be everywhere at once on a budget?
The secret to becoming a successful mobile entrepreneur is to take advantage of the many cost effective tools available to business owners all across the world. Companies that specialize in virtual office services have many solutions designed to increase your business’s flexibility:
Virtual Receptionist Services
A crucial part of increasing your mobility as an entrepreneur is hiring staff that work off-site. While being mobile gives you the flexibility to work wherever you want, it can present a problem when you begin to expand.
To free up more of your time as well as save money, you should begin by hiring a virtual receptionist to perform tasks such as call screening/forwarding, appointment scheduling, and responding to customer service inquiry. Read more...