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Definition Of Business Entrepreneur Important Key To Success

Running a business has many moving parts that can get unorganized and cause chaos. When you have chaos, you have serious problems with planning, meeting deadlines, and building your business to sustain your life. But there are ways to conquer the issues associated with organizing your thoughts. 

Tools to Help You Organize Your Thoughts and Ideas  

Choosing the right tools depends on what type of thinker you are: linear or visual.

If you’re a linear thinker, you prefer lists over mind maps. The following tools will offer every type of organization that you need to get your thoughts and ideas in order.

Link – https://evernote.com/

  • Paper – That’s right; you can use a combination of paper, files, and notebooks to organize your life. Some people do better this way. That’s why the old-fashioned Filofax still sells well. Some people like the feel of paper; it makes them feel accomplished.

Link – http://www.filofaxusa.com/

  • Zoho Notebook – This is part of the entire Zoho suite. Individuals can use it free, but businesses can choose between a few different price points. It has many different ways to get organized, and you can also, depending on the level you choose, use it for team management. 

Link – https://notebook.zoho.com/nb/login.do?serviceurl=%2Fnb%2Findex.do

  • UberNote – This tool works with the programs you already use and lets you add notes, files, bookmarks, clips, and more from anywhere. You can use it free or pay about 8 dollars a month for a premium.

Link – http://www.ubernote.com/webnote/pages/default.aspx

  • Webasyst – You put this app on your server, and then you add different functions to it with modules. If you’re technologically inclined, this might work for you.

Link – http://www.webasyst.com/

  • Write – This is a cloud-based idea management service that lets you save your ideas, clips, and more online in an organized manner so that you can find the ideas when you need them most. 

Link – http://wridea.com/

  • Wunderlist – An organization app that works across platforms, literally on any device, to help you manage your tasks. While it’s more for organizing tasks, it’s still a good app for those who are partial to lists.

Link – https://www.wunderlist.com/

  • Asana – This is a full-fledged project management tool that lets you get more organized and collaborate with others, but it should be included in this list for those who need reminders about ideas.

Link – https://asana.com/

  • Reddit – One of the few remaining bookmaking sites that exist, and that’s because it works well. Of course, it’s more than that, but if you like one place to read everything you want to save for later, this is it.

Link – http://www.reddit.com/

  • FreeMind – This mind-mapping software is downloaded onto your computer for use free of charge. It offers all the features of other mind-mapping software, but without the cost. But, you will need to be technologically wise to use it.

Link – http://freemind.sourceforge.net/wiki/index.php/Main_Page

  • Wisemapping – This is easy-to-use free cloud-based mind-mapping software to organize your thoughts and expand your ideas.

Link – http://www.wisemapping.com/

  • Bubbl.us – More mind-mapping software used by several high-ranking colleges and businesses. It has several price points so that anyone can use it. You can save your work to the image or even HTML, which offers many different opportunities.

Link – https://bubbl.us/

  • Mindomo – A very full-featured cloud-based mind-mapping solution that allows you to create, collaborate and share your mind maps with others. There are plans for individuals and teams.

Link – https://www.mindomo.com/

  • Gliffy – Do you need professional flow charts, organizational diagrams, technical drawings, or other organizational tools such as these? If you do, this software is for you. Together with Confluence, you can add diagrams to your Wiki to be even more organized.

Link – http://www.gliffy.com/

There are numerous software solutions and apps that you can use to organize your thoughts and ideas. Which one you like will depend on how your mind works and how you think best. Some people shine with mind maps; others feel like poking their eyes out.

Which one are you?

Common Financial Problems Businesses Face

Starting and running a business is not easy or simple. Anyone who tells you that is wrong. Maybe it’s easy to perform your duties. Perhaps it’s easy to do something you love and get paid for it, but there is a lot more that goes into running a business than just doing your “job.” 

Many times, financial issues cause serious problems for businesses. If you are aware in advance of the issues that might affect you, you’ll be ahead of the rest.

  • Understanding the Financials – Each industry has its own rules and commonalities regarding bookkeeping and finances. Read reliable information about your specific industry and get advice from only professionals in the accounting industry, not your best friend’s cousin who once worked for a CPA. 
  • Paying Taxes – Believe it or not, some successful businesses end up going out of business due to the failure to pay their taxes promptly. It’s important to understand how self-employment taxes work and how you pay quarterly taxes, as well as the pitfalls of not doing it. 
  • Cash Flow – Very small businesses usually do not have the large cash or credit resources to deal with slow cash flow. Therefore, a small business owner must be prepared for issues with collecting money and cash flow. When you get a big payout, don’t spend it all; figure out how to budget what you get for the months when you get little or nothing.
  • Managing Money – This is an outflow of cash flow, but you must set up a budget and live off that and not put your hands in the drawer willy-nilly. It takes time for a business to be profitable, and if you keep putting your hand in the till, you will never be profitable.
  • Getting Paid on Time – The first part of getting paid on time is having a solid contract and understanding with the client about when and how you’ll be paid. The other is having an easy-to-use invoicing system to send out timely invoices. 
  • Getting Paid a Fair Price – The bottom line is, don’t undervalue your products or services. Charge what you deserve to be paid, and then you will remain joyful about the work that you do. If you underprice yourself, your finances will suffer, and resentment will grow.
  • Anchor Clients – Business owners have to be careful, especially service businesses, not to have one client that pays the most of their money. Good financial software can help you determine what percentage each client is paying to expand to avoid anyone client being an anchor client. 
  • Too Much “Office” Work – The bane of any business owner’s existence is unpaid work such as data entry, filing, and even marketing. One way to avoid this problem is to automate most of the financial processes with the right software.

Educating yourself about financial issues, bookkeeping, taxes, and accounting, and then setting up a system to deal with these issues will help you avoid many problems. In addition, using the right tools can help you more than almost anything, especially if some of it is automated to make it as simple as possible.

Common Problems and Solutions for Managing Projects

Project management is an essential element in running any business, whether it’s an online or bricks-and-mortar business. In addition, all industries have project management issues, whether they are service-based or product-based. That’s why project management skills are in such demand.

Here are some common problems and how to deal with them.

  • Lack of Cohesive Goals – It’s important to set goals what the deliverables will be. The deliverables result from the project. The successful conclusion that makes everyone happy and satisfied requires knowledge of exact outcomes and goals.
  • Not Controlling Scope Creep – Setting up projects requires a simple explanation of what is expected. It would be best to get that from the expected deliverables, but you have to watch out for scope creep, which can happen during project changes in the middle of the project. Be sure to account for potential changes in your initial planning phase and contract.
  • No Accountability – Consensus is fine, collaboration is fine, but someone has to be ultimately responsible for different parts (and the whole) of any project in progress. The reason is that if no one feels accountable, the project can run amok, and nothing will get done. Usually, the project manager is accountable, and the PM makes other individuals accountable for various parts of a project.
  • Skill Deficits – If no one on the team working on the project has the skills to do a particular part of the project, that gap must be filled. If not, the project cannot be completed. Without proper advanced planning and a full understanding of the deliverables, it cannot be easy to know what a project takes. Know what a project takes so you can fill the skill sets needed for every project.
  • No Plan B – Always pad the schedule for a project so that you have room for mistakes, errors, technology issues, and even poor weather or illness. If you cut a plan down to the last minute on paper, you will be late. Things happen, and any project will have roadblocks arise that can be fixed, given time. So never forget your plan B.
  • Lack of Resources – When presented with any project, it’s important to plan it to ensure that you will have enough resources to take it on. Many businesses stall because of planning for things in terms of money or human capital before it even gets off the ground. For example, if you want to create and sell software but don’t set aside funding for marketing, you’ll fail at the most important point of the project.
  • Unrealistic Deadlines – Everyone has that boss, or client, who wants things done yesterday. But yesterday is gone and is not possible. As the project manager, it’s up to you to give the client or the team the deadlines based on accurate projections and not wishful thinking. It’s just not possible to do things faster than they can be done. 
  • No System in Place – Systems can include software solutions like a project management system such as Basecamp.com, or it might comprise a way or process of doing something such as following up with customers, leads, or even process accounting and conducting data entry. If you don’t have systems and procedures, your project could get stalled with reinventing the wheel.

If you want to manage projects with fewer problems and more successful finishes, then it’s important to consider all aspects of any project from A to Z. In this way, you can set yourself up for success. 

Ask first what the deliverables are and then work your way back to how you’ll accomplish that by adding the resources you need. Resources include money, technology, human intelligence, and more. Add on until you have a plan of action and the right tools to succeed so that you can avoid the common problems with managing projects.

Definition Of Business Entrepreneur Important Key To Success

Definition Of Business Entrepreneur Important Key To Success

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