Many new entrepreneurs and businesses open every day. There are many reasons why
people become entrepreneurs: creative freedom and their leaders what they want and
make more money.
Unfortunately, many beginners and some experienced entrepreneurs fall pray to the myth
of business success, that success is the worst of the top bankruptcy and other problems
are also affected. In this article I describe two of these myths, and what can be done to
succeed as an entrepreneur.
Myth I - success means "six figures"
Mailbox is full every day, that "six figures" as a coach and consultant, or other
professional services to sell. The present proposals are in the mailbox.
Although of the box remote learning seminars at, write to a book from the social media,
that create a website, a copy of the marketing and product of information the partner, to
set been set up - the magical promise of "6 numbers". Is more "delicate" offer, with the
promise of "numbers" 6, 30 or 90 days on the wall or to another number.
What is left exact value of the promises of "numbers" six. After hundreds of proposals, I
think, "six figures" for $ 000,100 in revenue.
These suggestions, you know, it seems that the "six figures" is a magic button to coaches,
consultants and other necessary services.
You may be asked, "What happened to the six figure income?" There is nothing wrong
with that $ 100,000 or more, you know, six or seven figure income reading does not
mean that you have a successful business.
You can make a six-figure income, but the company:
• Do not profitable
• There is a loss
• Do not pay salaries
• Do not think about the future growth
• Do not buy, but even-
• You can donate to the relationship and / or health
This kind of "six figures" very annoying.
What can we do to avoid the pitfalls of the myth of "six figures" to avoid? Here are four
thing, they shall promptly:
Now the action
A Try your best friend, who
Every entrepreneur should be aware of the important data and their impact on businesses.
Presentation is not happy, but as president, it is your responsibility to review the financial
and medical assistance business.Get understand the accounting, that if the permanent
Two. Focus on profitability, not sales
Profitability is an important indicator of the health care business confidence. I
acknowledge, that the gross and of the net profits shall monitoring expenditure with of
the services and the shares and bonds were sold expenses.Understand, it is possible,,
depending on whether what kind of product or service. This option allows you to choose
what is best for your business.
Three. Remember, the growth plans
As your business grows, you may want to increase income and / or plan profits.When
sales growth, which takes into account the higher costs associated with business
Fourth Understand that if you have a stable society
You can use six or seven questions of income compensation, but not commercial, but
Real estate companies that eventually you can work without being the same. The
beginning and a business model that not only grow, but at the end of the work little or not
at all like the owner.
Myth II. Growth in credit operations
Just when we think we have learned from this crisis without a mortgage you can afford a
very bad idea, but the idea of marketing specialists, personal loans.
I've seen coaches tell that clients credit for a good way to pay for the program. GA is
presented as a tool for business development, which means that no payment program, you
can grow your business.
Frankly, at this time I just want to mourn. I talk a lot of parties and leaders, consultants
and services integrated like $ 10,000 $ 25,000 to pay for credit cards, programs, without
These programs rather than the return on investment, put in a deep financial hole. Some
were forced to work to pay a debt. Unfortunately, many do not return, resulting in
economic hardship and even bankruptcy.
The founders of the liability means that the credit growth of big business. It only works if
certain conditions are met:
• Introduce the idea that you are looking for a written plan for financing to lenders such
as banks. These the creditors is aware of to the risks addressed, and ensures, that security
is the loan. Let's see the idea as too risky, lenders do not finance it.
• Construction of the loan, if it fails, because the idea of an entrepreneur personally liable
Compared to the above scenario as a coach and mentor. Instead of borrowing on the map,
think about it, coach or complex services to lenders, as explained above.
How do you ensure that the system administrator, but the personal effects. What lender is
satisfied that payment of the loan, so the probability that the loan is credit? Opportunities
for trade credit mentors as close to zero.
If you want to over-indebtedness to start or grow your business is one of the biggest
mistakes you can make.
Now the action
A Credit cards are not
If anything the company needs to pay the loan, the thinking and the subsequent election.
The loan to the lender, but if there is a proven method for two to three times the return on
Two. According to our plans for growth and
Most companies require an initial investment. Make sure that the resources of their own
savings. To understand how to invest and how long can the company that the investment
before the start of sales, profits and returns generated.
Three. Realizes that there are to the risks addressed
Understand that when you invest in a company, you are exposed to great danger, and you
may lose all or a portion of the investment. Stay away from people who say otherwise.
Let's start with a plan is ambitious and will lead to profit, but be prepared for possible
risks. Make sure this is not the risk of financial and emotional crisis you and your family