7 Financial Habits of Successful Entrepreneurs

Most of us are familiar with the typical habits of successful people -- wake up early, eat breakfast, build a network. But what about the financial habits behind successful entrepreneurs? What are they doing on a daily basis that is making their business successful? Here are six frequently mentioned financial habits of successful entrepreneurs.

1. Build your network by cutting great
deals.
Network, network, network. You're probably familiar with the constant refrain, but today's successful entrepreneur doesn't just network by going to cocktail parties and business retreats. They use implied networking. Effectively, you're taking a slight financial hit in order to secure future business. This is especially relevant when forming business relationships with partners who can help you grow. Favorably crafted partnerships can lead to long-term loyalty and sustainability. Successful entrepreneurs understand that financial success is not a short-term proposition.

2. Spend small before you spend big.
Particularly when you're just starting out, you need to be careful how you spend your money. Only purchase what is absolutely essential to perform business. Do you really need new office chairs, or will the old chairs work? Do you need a brand new, top of the line computer, or will your two-year-old laptop suffice? Successful entrepreneurs don't start by purchasing luxuries -- they start by purchasing the necessities and no more.

3. Know your liabilities.
A successful entrepreneur knows every single one of their business's financial liabilities. They know what they can and can't be sued for -- and it's this knowledge that allows them to stay out of legal hot water. While it's wonderful to think that everything will be great all of the time, at some point, your business is going to run into difficulties. It's at this point that it's absolutely imperative that you know what you could be liable for at any given time.

Spencer Barclay, COO of BenefitGuard, gives an example: "An often overlooked liability of a small business is the company retirement plan. You will find numerous recent lawsuits where a company is being sued by employees for simple mismanagement of the 401(k). In many cases, the company thinks their provider is the one on the hook for this, when in reality, very few providers across the country are actually taking on any fiduciary risk."

4. Delegate money, too.
Every entrepreneur knows they need to delegate. After all, you can't do it all. But successful entrepreneurs look at delegation differently -- they look for financial delegation. As in, who should they pay to accomplish a certain task? When you have a problem, you must spend some combination of time and money to fix it. The more you spend of one, the less you spend of the other. A successful entrepreneur looks at each problem and considers how valuable their time is versus the cost to solve the problem. Should you solve the problem yourself, or does it make more sense to spend money and hire outside help? Know how much your time is worth.

5. Learn from small financial risks.
The market is constantly changing. Many successful entrepreneurs have found a way to adapt. Rather than launching a product with a massive investment, they'll develop a test project, and put forth a minimal financial action to see how receptive the market is. Effectively, this minimalist process serves two purposes. First, it allows entrepreneurs to test the market to see whether it's interested in a new product. Secondly, it protects the entrepreneurs from risk. Since the financial investment is minimal, if the investment fails, it won't sink the business. You take a small risk, learn from that risk, then eventually scale up.

6. Put the market first.
There's an old saying -- the market is never wrong. Every successful entrepreneur needs to look at the market, and put the market before themselves and their ideas. No matter how great an idea is, it needs to be financially validated by the market to be worth pursuing. Don't put your ego ahead of the market -- or your business will suffer dramatically.

7. Understand the dynamics of your
cashflow.
Entrepreneur and best-selling author Ed O’Keefe explains: “The most important key for starting a new venture is to map your financial future and grow it with. Too many new entrepreneurs fall into an illusionary trap. The business is growing and everything seems to be going great. Customer acquisition is humming along. In theory, the business is a success. But there's not enough positive cashflow to sustain operations in the short run. Before you launch, make sure you can cover all your expenses for as long as necessary until the business sees a profit.”

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How To Avoid 10 Body Language Mistakes in Job Interviews

In job interviews, hiring managers judge
you on more than just how you answer their questions. They also take a close look at your body language, new research finds.

Studies and research has it that our eye contact, handshake and posture can all help, or hinder, your chances of landing a job.

hiring
managers named failing to make eye
contact as one of the biggest body-
language mistakes candidates make
during interviews, with 39 percent
saying not smiling at all is one of the
biggest blunders.
Part of the reason for body language's
importance is that most interviewers
make decisions on whether they will
consider hiring a candidate before the
candidate even has a chance to answer
multiple questions. The study found that
more than half of employers know
within the first 5 minutes of an interview
if a candidate is a good fit for a
position.

Below are the 10 biggest body language faux pas that job seekers make during interviews.

1. Failing to make eye contact
2. Failing to smile
3. Playing with something on the table
4. Fidgeting too much in their seats
5. Crossing their arms over their chests
6. Having bad posture
7. Playing with their hair or touching their faces
8. Having a weak handshake
9. Using too many hand gestures
10. Having a handshake that was too strong

It is said body language can tell employers a lot about who you are.

In addition to poor body language,
several other behaviors can quickly
squash your chances of getting hired. Two-thirds of the hiring managers surveyed said a candidate getting caught lying is the biggest deal breaker during an interview. Another 64 percent said answering a cellphone or texting during an interview is one of the quickest ways to eliminate yourself from consideration.

Coming across as arrogant or entitled, dressing inappropriately, and appearing to lack of accountability are the other biggest interview deal breakers

How to make the most out of your job interview

Practice: Being prepared is the best way to avoid an interview disaster. I recommend practicing your interview skills ahead of time with friends or family members. When you're finished, ask them for feedback on things like posture, your handshake and eye contact.

Use video: Job seekers can gain a lot of insight into their interview performances by making videos of their practice sessions. Watching yourself can help you identify any mistakes you're making unconsciously.

Know your elevator pitch: An elevator pitch is a 30-second speech summarizing what you do and why you'd be a perfect fit for the role. Haefner said this is a good answer to the common interview question "Tell me about yourself." In addition to having your answer ready, you should also be prepared to back up your claims later with specific examples that showcase your skills and experience.

Do your homework: Take time before an interview to research the company you are interviewing with and come prepared with several questions for the interviewer. This helps you show employers that you're just as interested in them as they are in you.

Relax: Taking a few deep breaths prior to the interview can help relieve some of the anxiety that leads to fidgeting and other nervous tics.

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21 Success Tips for Young and Aspiring Entrepreneurs

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person.

If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself.
Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about.
There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk.
We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Believe in yourself.
As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision.
The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people.
Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears.
Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.

8. Take action.
The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time.
No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.
Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team.
No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character.
As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.
Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals.
Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes.
Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.

16. Know your customer.
Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints.
Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input.
Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely.
When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry.
Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.
Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

What’s your favorite success tip for
entrepreneurs? Share it below in the
comments section below.

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24 Self Development Tips For Potential Successful Men

As teenagers and youth aspiring to become successful in the nearest future, there are steps, duities and obligations you need to implement towards achieving a bright success.
Below are 24 development tips you need to stick to

1. Make friends with successful people and occasionally buy them gifts and surprise them with lunch because successful people always give and hardly get, so when you give them, they value the gift a lot.

2. Get a mentor and follow his instructions and respect the relationship. Never beg your mentor for money or disrespect his or her privacy.

3. Make new positive friends as often as possible and ensure you keep the communication line open.

4.Create a network of friends and not just connections.

5. Show kindness to everyone. Some small boys today will be big boys tomorrow. The biggest dog in the neighbourhood was once a puppy. And keep the information/secret to yourself.

6. Always plan ahead and be proactive. He that plans the future work less in the future.

7. Listen to speeches and messages from great teachers. Both religious and educational.

8. Attend seminars and training on any area you need to improve yourself. Train the trainer, personal development, public speaking, sales etc.

9. Have the habit of keeping a pen and a writing pad handy because ideas come in the form of flashes. The smallest pen is bigger and better than the biggest brain.

10. Make sure at every point in time you are reading a book. If you spend 20 minutes reading daily, for 52 weeks you would have consumed 1,000,000 words.

11.Stay away from television as much as possible. You can watch educational channels. Men with big TV sit in front of them to watch men with big library.

12 Put control over your mouth, never say. evil of any man, what you are not certain of should not be said. Say good of all men.

13. Always show appreciation for any good deed you received.

14. Always help someone in need.

15. Live a debt free life. What you can’t pay. cash for is not your size.

16. Give out loans that you can part with as gift, so that you don’t destroy your business and relationship.

17. Create legitimate multiple sources of income.

18. Save at least 10 percent of your income.

19. Invest a portion of your income. And be patient to see it grow. If what you have in your hands is not good to be called a harvest then it’s a seed, sow it.

20. Keep a good financial record of all income and expenses, so you won’t ask later “where did my money go”

21. Be involved in community service. Control traffic, free lesson class for students etc.

22. Keep getting better on your daily goals and dream, develop yourself on them and make sure you get to the top 10 % of your industry.

23. Make sure you engage in exercise. It keeps your brain alert and your body fit to enjoy your success.

24. Pray often, and know that for every success, God made it possible.

Wishing you the very best. I tell you, this will keep you going in life if you practice what you just read. Don't forget to share.

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5 Best Apps for Your Blogging Business

Whether you are a businessman or an entrepreneurial blogger who has built a business blogging and/or freelance writing, there are some applications that are an irreplaceable part of your collection of business apps. Every year we see tons of new software overwhelming the online market, so it may be difficult to choose the right piece of software for your needs.

With this post we aim to help those of you who are still looking for new apps to add to your toolbox. To make your workflow easier, here are 5 of the best business apps we think you should have.

1. Digg: Latest News & Trends Round the Clock
Digg is one of the best places to find information about the latest trending news, products and services on the web. This has turned into one of the most widely used websites, and now you can use it directly on your phone via the free Digg application. While Digg is not as popular as it once used to be, this means that you have less competition in finding trending stories.

2. Prismatic: One-Page News
Feed Keeping track of the latest news and stories in your industry can be a very difficult job, especially if you lack the free time to individually check every single news website. Prismatic makes it easy by providing you with instant updates about the latest changes in your industry. All content is displayed in a one-page news feed, and you can easily like or dislike specific articles. This will help Prismatic provide you with content relevant to your interests. This app is also great if you want to keep your employees or co-workers up to date with the latest changes in your industry.

3. Clicky: Quick Report on User Statistics
Online exposure is important for every modern-day business, so you must make sure that your website’s statistics are growing with each passing day. There are tons of services and apps that can be used for this purpose, but one of the best choices for entrepreneurs is Clicky. This simple, yet feature-rich application analyzes your website and provides you with detailed usage statistics that help you improve your content and strengthen the relationship with your viewers. Clicky integrates well with a wide range of on-site analytics tools, as well as with Google Search Ratings.

4. Dropbox: Upload Share, Organize Anything
Both business owners and employees need to work with a large number of files on a regular basis. However, keeping track of all your work and organizing all of your files is sometimes a little bit too difficult. One solution is Dropbox, which is a cloud-storage platform that allows you to quickly upload, share and organize your files and folders in a way that will improve your work performance. The simple interface, free 2GB of storage space and rich number of features have turned Dropbox into the leading cloud-storage service among workers, business owners and freelancers.

5. MailChimp: Keep In Touch with Potential Buyers
Communicating with potential buyers or current customers is important , because this is the best way to make sure that they will be the first to know about your latest promotions, new products and services, etc. Although some think email communication is outdated, spreading newsletters via email is one of the best ways to inform everyone about your company’s latest deals. MailChimp is a great app that many business owners use to schedule newsletter mailing campaigns that include thousands of recipients. The service is available both through a handy web interface, and through a newly developed mobile application.

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