An Entrepreneur Success Coach's Tips- Launching a 7 Figure Income Business
edited: Sunday, September 28, 2008
By Robert Skrob
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Posted: Sunday, September 28, 2008
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There are many reasons why new businesses fail to succeed. Learn how getting a new venture up, running and profitable in record time... really matters
The field of information marketing has opened doors to limitless opportunities for lucrative online, home-based businesses. Yet, according to the Small Business Association more than half of all new businesses still continue to fail. There are many reasons why new businesses fail to succeed. But the biggest reason is unsuccessful entrepreneurs fail to take action. Many entrepreneurs face too many distractions, a lack of knowledge, competing priorities, poor planning and time management issues, to name a few.
My friend and fellow Dan Kennedy follower, Melanie Benson Strick, a success coach for entrepreneurs, points out that successful entrepreneurs know how to create a balance between a speedy (and profitable) start-up and a reckless one. We've all heard the saying "strong and steady wins the race." And, it couldn't be true r than when it comes to getting a new venture up, running and profitable in record time.
In my new book, "Start Your Own Information Marketing Business," which is an essential how-to guide for anyone interested in starting an information marketing business, Melanie explains that speed implementation is not just about moving fast. It's how you move forward that really matters.
Melanie's 5 Speed Habits of Successful Entrepreneurs That Can Guarantee the Success of Any Start-Up
1. Good is Good Enough
Knowing when to stop trying to achieve perfection is an important part of speed implementation. Trying to be perfect is near impossible and, in the mean time, someone else is capitalizing on your idea. Sometimes it's ok to learn from mistakes as you go.
2. High Payoff Focus
Understanding the difference between a distraction and a high payoff opportunity is like money in the bank. Focus your time and energy on the things that get you results quickly.
3. Power Planning
By creating a written plan and strategy for success, you will be able to identify weaknesses and potential roadblocks. This will also help you delegate to others. Create a checklist and a timeline for when tasks need to be done. Find ways to delegate to others, and research opportunities to use outside resources that will reduce the time you spend on tasks like billing, website updates and fielding of phone calls. Interns, stay-at-home moms and retirees can make great part-time team members.
4. Speed Decision Making
Flip-flopping, procrastinating and dragging your feet will only sap your momentum. Gather important information such as:
- How much money will it cost?
- How much time will it take?
- How do I make my money back?
Make a decision based on the facts you gather and move on.
5. Ruthless Time Management
Great time managers have a crystal-clear focus on what's important. They know how to implement boundaries so they don't get distracted. Try building regular time into your schedule to accomplish tasks related to your new venture and stick to that schedule.
For more of Melanie Benson Strick's business motivating tips to preventing procrastination and reigning in hasty business decisions, check out Start Your Own Information Marketing Business in bookstores now.
Robert Skrob, President of the Information Marketing Association teaches new entrepreneurs and small business owners how to build 6 and 7 figure income information marketing businesses simply by creating products once and getting paid many times over. Now you can get his FREE Video revealing how 5 info-marketers easily created fast-selling products & how you can too. Get free access now at http://www.infomarketingstartup.com