Why you should start your own business

1. JERRY R MITCHELL
Feb 28,2011
1
“Career Choices During These
Economically Troubling Times"

2. JERRY R MITCHELL
Feb 28,2011
2
“You will never do anything in this world
without courage. It is the greatest quality of the
mind next to honor” James L. Allen

3. JERRY R MITCHELL
Feb 28,2011
3
RELYING UPON YOUR EMPLOYER FOR
A SECURE RETIREMENT IS A COMFORTABLE
BUT DANGEROUSLY OUTDATED NOTION.

4. JERRY R MITCHELL
Feb 28,2011
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TODAY THERE ARE THREE CAREER
OPTIONS AVAILABLE TO YOU

5. JERRY R MITCHELL
Feb 28,2011
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THE FIRST OPTION IS TO STAY IN
YOUR CURRENT POSITION
PROVIDED YOU STILL HAVE ONE

6. JERRY R MITCHELL
Feb 28,2011
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THE SECOND OPTION IS TO
SEARCH FOR A NEW POSITION

7. JERRY R MITCHELL
Feb 28,2011
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THE THIRD OPTION IS TO
START YOUR OWN BUSINESS

8. JERRY R MITCHELL
Feb 28,2011
8
Losing your job: making a career move

9. JERRY R MITCHELL
Feb 28,2011
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You are lost now that you have lost your
job and you feel like your world has come
to an end.
How will you make it ?
What will you do ?

10. JERRY R MITCHELL
Feb 28,2011
10
You’ve been working for so long you don’t
know what to do with yourself everyday
and where do you go

11. JERRY R MITCHELL
Feb 28,2011
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Can you find another job and how long
will you be without work?

12. JERRY R MITCHELL
Feb 28,2011
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These are all the questions that will run
through your mind when you lose your job
and you are trying to figure out what to
do afterwards.

13. JERRY R MITCHELL
Feb 28,2011
13
How do you make it now?

14. JERRY R MITCHELL
Feb 28,2011
14
Even though it’s a hard thing to swallow that
one day you had a job and the next day you
don’t. You have to look at this as a new
opportunity for bigger and better things to
happen for you.

15. JERRY R MITCHELL
Feb 28,2011
15
The first thing is to accept for whatever
reason you have lost your job, this is where you are
suppose to be in your life right now.

16. JERRY R MITCHELL
Feb 28,2011
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Take losing your job as a opportunity to
discover which direction you want to go
in for your career. You might discover
losing your job is the best thing that
could have ever happen to you.

17. JERRY R MITCHELL
Feb 28,2011
17
If you had never lost that job you might not
have had enough nerves to walk away to
find something better or do what you secretly
always wanted to do.

18. JERRY R MITCHELL
Feb 28,2011
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Now is the time to search yourself for this.
Take this time since you have been put into
this situation to look at other things before
you jump back into what you had.

19. JERRY R MITCHELL
Feb 28,2011
19
You will have to regroup your life style until
you can start back working. Just don’t give
up your life.
Keep searching for a job or that new career
you might have decided you wanted and
everything will eventually fall back into place.

20. JERRY R MITCHELL
Feb 28,2011
20
Life after losing your job might not be as bad
as you think, it’s what you make of it.

21. JERRY R MITCHELL
Feb 28,2011
21
As a small-business owner, you just can't compete on price.
Forget it! Actually, the market is much less price-sensitive
than you think it is.
The market bears all kinds of prices. Can you believe people
pay $50,000 for a watch? Three dollars for a bottle of water?
Hundreds of dollars for pro music tickets? Consumers will buy
just about anything if they can see the value or benefit.

22. JERRY R MITCHELL
Feb 28,2011
22
So how much should you charge?
As much as it takes to get what you want from your business,
regardless of what your competitors are charging. Create a
selling price that covers all your costs, plus profit, then figure
out how to sell your product.

23. JERRY R MITCHELL
Feb 28,2011
23
Here's a sure-fire, make-your-dreams-come-true formula for
making money in your business:
First, determine how much money you want to make. How
much money will it take to make all the headaches of small-
business ownership worth it? It's up to you. Pick a number.
You can make any salary you want-but you have to build it
into your selling price.

24. JERRY R MITCHELL
Feb 28,2011
24
Next, figure out what you're selling. What's your "widget"?
If you sell your services, knowledge and expertise, you sell
time.
If it takes skilled labor hours to create your product, you're
selling time. When you sell time, you can only deliver so
many "billable hours" per day, per week, per year

25. JERRY R MITCHELL
Feb 28,2011
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Then, decide how many you can sell in a year. Suppose
you sell four billable hours per day, five days per week,
for 50 weeks in one year. 4 X 5 X 50 = 1,000 billable
hours per year.

26. JERRY R MITCHELL
Feb 28,2011
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Next, crunch the numbers. Want to make $100,000? If you
have 1,000 billable hours per year, it will take $100 per
hour just to cover your salary. Add to that all the other
costs of doing business.
Inflate for profit. Voila! You have a selling price that
makes sense-and makes money.

27. JERRY R MITCHELL
Feb 28,2011
27
Learn to market yourself and eliminate price competition
forever.
The market doesn't set prices…marketers do!
What makes you special? Here's a clue: Look at what the
low-price providers may sacrifice…service, good manners,
convenience, quality, a sense of humor.
Substitute "I'll do it for you" instead of "Do it yourself." Get
the idea? To charge more, you must be different.

28. JERRY R MITCHELL
Feb 28,2011
28
Entrepreneur seems to be the hottest buzzword going around, the
hero, the savior of economies worldwide. How do we spot one
when we see one?

29. JERRY R MITCHELL
Feb 28,2011
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Entrepreneurs, , are people who perceive new opportunities and
create and grow ventures around those opportunities.

30. JERRY R MITCHELL
Feb 28,2011
30
An entrepreneur, pronounced 'on-truh-pruh-nur', is someone who starts
a business and is good at finding ways to make money.

31. JERRY R MITCHELL
Feb 28,2011
31
Do you think being a successful entrepreneur is impossible - think
again. Many have taken the leap to create a better life for
themselves and their families. Because of the down-turn in the
economy, downsizing (by many once stable companies), and the
high cost of living many are searching for alternative income.

32. JERRY R MITCHELL
Feb 28,2011
32
Hence the stampede to the home based business and the world of
entrepreneurship. But what does it take to be a successful
entrepreneur? What qualities must a person have to be successful
as an entrepreneur? It has been proven that successful entrepreneurs
have:

33. JERRY R MITCHELL
Feb 28,2011
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The right mindset is the key to being a successful entrepreneur. You
must believe in your self and your abilities to get things done. It is so
amazing how we always think other people can do it but we can't.

34. JERRY R MITCHELL
Feb 28,2011
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Remember to relax and look for help when you need it. I sure did.
Understand that you are in business for you self but not by yourself.
If your goal is to earn $2000 or $10,000 a week, believe it is possible.
Anything some else can do you can do it to.

35. JERRY R MITCHELL
Feb 28,2011
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You must believe that the good life is for you and that you deserve
it. Otherwise you will sabotage yourself if success comes to you.

36. JERRY R MITCHELL
Feb 28,2011
36
Successful entrepreneurs must be open-minded and embrace changes.
They are never afraid to take a risk. They are savvy and understand
the need to promote their product through effective mediums. Far too
many entrepreneurs underestimate how important this is to the
livelihood of their business.

37. JERRY R MITCHELL
Feb 28,2011
37
If you don't have prospects you don't have customers. If you don't
have customers you are not in business. The call word for an
entrepreneur is
Promote, Promote, Promote.

38. JERRY R MITCHELL
Feb 28,2011
38
Because of all the new technology available for marketing the
successful entrepreneur has just about every thing needed to
succeed.
The internet is the largest marketing medium in the world and it is
right at our fingertips.

39. JERRY R MITCHELL
Feb 28,2011
39
Successful entrepreneurs must have a reason for being successful.
When the obstacles come, and they will you must have a strong
"Yes" to continue on or you will say No and quit. Their must be
meaning and passion in what you do or the path will feel empty.

40. JERRY R MITCHELL
Feb 28,2011
40
Sir Winston Churchill had to give a speech at a commencement
service of a military academy and he only said 9 words
"Never Give Up, Never Give Up, Never Give Up"
and walked of the stage.

41. JERRY R MITCHELL
Feb 28,2011
41
Successful entrepreneurs must be open-minded and embrace changes.
They are never afraid to take a risk. They are savvy and understand
the need to promote their product through effective mediums. Far too
many entrepreneurs underestimate how important this is to the
livelihood of their business.

42. JERRY R MITCHELL
Feb 28,2011
42
What was his message? Persistence! Persistent will be to a
successful entrepreneurs as carbon is to steel. When you spent your
last dollar and the next sales is not coming as planned you must
persist, because your biggest break through is usually just after
your biggest disappointments.

43. JERRY R MITCHELL
Feb 28,2011
43
Maybe you want to help starving children in Africa. Maybe you
want to help hungry children around the world. Maybe you just
want to have enough money to help those around you. What-ever
your mission is it must be big and beautiful. It must add meaning to
your life.

44. JERRY R MITCHELL
Feb 28,2011
44
As you can see you can develop yourself into a successful
entrepreneur if you have the right mindset, market yourself and
product and have a mission for success. If you need more help
please contact me.

45. JERRY R MITCHELL
Feb 28,2011
45
Remember "Nothing changes in your life until you do"

46. JERRY R MITCHELL
Feb 28,2011
46
The American system of business management has been admired
and emulated around the world. This system is characteristic of
two traits in the American psyche:

47. JERRY R MITCHELL
Feb 28,2011
47
(1) enthusiasm for the future and making things better, and
(2) an openness and willingness to change in order to achieve
that end.

48. JERRY R MITCHELL
Feb 28,2011
48
No society in the world is better or more prolific at creating new
businesses than the United States capitalistic system but often we are
so busy commercializing ideas and starting new ventures that we
don't take the time to learn basic, successful management principles
that have been developed by our larger companies.

49. JERRY R MITCHELL
Feb 28,2011
49
Many entrepreneurs are technical experts in what they do but start
a business without any formal training or experience in management
practices and principles. By "management" here we mean the
business of successfully managing the non-technical side of the
business, the "back room" activities.

50. JERRY R MITCHELL
Feb 28,2011
50
As a result of inadequate management, many small businesses fail
in the early years. They fail not because of a weakness in the product
or service concept they have, but because the business was not
properly managed in the back office.

51. JERRY R MITCHELL
Feb 28,2011
51
Once a business has emerged or grown to a certain level,
management techniques must change or the business will run into
trouble. For many small businesses this level is $1-3 million in
annual sales or 5-15 employees.

52. JERRY R MITCHELL
Feb 28,2011
52
Sometimes the owner or manager of a small business must evolve,
morph or otherwise change from a manager of things to a manager
of people and from a technical expert to a strategic thinker.

53. JERRY R MITCHELL
Feb 28,2011
53
This is often a difficult task because of ingrained habits developed
over time but failure to grow as a manager is a major, perhaps the
major reason why a business will falter, stagnate or even collapse
under its own weight.

54. JERRY R MITCHELL
Feb 28,2011
54
Sometimes the owner or manager of a small business must evolve,
morph or otherwise change from a manager of things to a manager
of people and from a technical expert to a strategic thinker.

55. JERRY R MITCHELL
Feb 28,2011
55
But what do successful businesses have that troubled businesses
don't?

56. JERRY R MITCHELL
Feb 28,2011
56
"Twenty years from now you will be more disappointed by the
things you didn't do than by the ones you did do. So throw off the
bowlines. Sail away from the safe harbor. Catch the trade winds in
your sails. Explore. Dream. Discover." Mark Twain

57. JERRY R MITCHELL
Feb 28,2011
57
Fundamental transformations are not led by institutions. Institutions,
for the most part, have a focus which prohibits their ability to
recognize and understand the sea change around them. Their
organizational structures impede their ability to adapt and respond,
and they often sub- optimize their activity in new venues to protect
legacy interests, products or markets.

58. JERRY R MITCHELL
Feb 28,2011
58
Action and knowledge is with people on the cutting edge in this
digital age. Peter Drucker once defined the entrepreneur "as someone
who does something new and gets it done." I suggest that there is a
new breed of entrepreneur — netpreneur — who is getting new
things done with the digital medium.

59. JERRY R MITCHELL
Feb 28,2011
59
Netpreneurs are the people creating models, ventures and
opportunities centered around digital networks. They are united
by their reliance on the network bridge and the critical mass of the
Internet.

60. JERRY R MITCHELL
Feb 28,2011
60
They are students of all ages developing new ideas in their
basements and employees who become overnight millionaires at
companies like market America, Yahoo, Google, LinkedIn, Face
Book and scores more.

61. JERRY R MITCHELL
Feb 28,2011
61
They are intrapreneurs spinning out of older, established organizations,
collaborating in new ways to understand and capitalize on the
landscape of opportunity. And they are not just building businesses.
Netpreneurs are bringing innovation and the entrepreneurial spirit to
healthcare, education, government and community service.

62. JERRY R MITCHELL
Feb 28,2011
62
With the promise and potential of the "information superhighways"
we should all ask ourselves: Why, despite the communications
innovations of the last 150 years, each of which was supposed to
miraculously improve our society, do we approach the 21st century
with so many vexing social problems unresolved, and, in some cases,
made worse?

63. JERRY R MITCHELL
Feb 28,2011
63
The answers are not in technology, but in people. The hope and
promise is that the uniquely empowering nature of the new
communications medium may help people collaborate to find answers.

64. JERRY R MITCHELL
Feb 28,2011
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The question is: How do we capitalize on the opportunity for
sustained, constructive change for our families, communities,
institutions and businesses?

65. JERRY R MITCHELL
Feb 28,2011
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Measure what you value. We must be less focused on technical,
trophy accomplishments, like giving every child a laptop computer,
and more focused on making a sustainable difference; that is, the
real outcomes for people, businesses and communities.

66. JERRY R MITCHELL
Feb 28,2011
66
Champions aren't made in gyms. Champions are made
from something they have deep inside them -- a desire,
a dream,and a vision. They have to have last-minute
stamina, they have to be a little faster, and they have
to have the skill and the will. But the will must be
stronger than the skill.
Muhammad Ali

67. JERRY R MITCHELL
Feb 28,2011
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