WHAT STIFLES THE ENTREPENEUR’S CREATIVITY? (The Minding Your Business MYB™ SERIES)



An entrepreneur must always think abundance.  Indeed, there is enough market & resources for everyone.  All it requires is a little bit of creative ingenuity from you.   Year to year new businesses spring up, becoming profitable overtime and still remain in existence years after even with a challenging economy.



wearing many hats!



overwhelmed!

Today, entrepreneurs are constantly struggling to remain relevant to the purpose for ‘setting up shop’.  After overcoming the hurdle of pushing your services or products to the market, the next step of owning a market space becomes an even greater challenge. 

 

The main reason is – ‘the stifling of the entrepreneur’s creativity’.   The entrepreneur is overwhelmed wearing several hats. From customer service personnel, marketer, accountant to I.T personnel.  He becomes a ‘jack of all’.  Gradually, the entrepreneur begins to lose focus and creativity.  He/she becomes over stretched; worrying about so many issues and at some point may begin to regret the decision to start a business.  To own a market space, you need to stay creative and be innovative.  That’s why APPLE and SAMSUNG are still relevant players in the Mobile phone market.

 To solve this problem, the entrepreneur needs to ‘OUTSOURCE’.  Yes, outsource some of these services – I.T, finance/accounting functions, marketing, etc.  When you outsource some duties, you UNBURDEN your creative spirit.  The time spent studying and trying to understand accounting documentation for instance can now be focused on creating more value and further developing your products/services.

Outsourcing can be negotiated and even paid for without cash. For example there are new companies that are offering highly discounted fees and even free services for a start.  There is no harm in taking up any of these offers.  Where you have to pay, negotiate for the best deal.

Start outsourcing now before you get to that point of ‘stifled creativity’.  Outsource areas of non-expertise one by one, and you will be amazed at what you can achieve in a short while.

 

**This information is your currency; use it wisely.

 I remain passionate about your success,

 

Ehis Egbuji (@ehisbebe)

..Providing practical personal finance & business finance solutions!

 

ITS TIME TO MIND YOUR BUSINESS! (Part 1)

Hello!  Happy new to you!!  Hope you are still feeling new? Guess what?????  We are starting the year by minding the business that is ‘YOU’.  Yes, ‘YOU’; because you are a business of such potential magnitude that you can’t afford to let things just happen by chance.

YOU
Your personal attitude can affect the outcome of this year for you as an individual and even in business.
Convince yourself again about your life’s purpose: what do you really want from life?  How does your personality work with this, is there a conflict or are both in harmony? Your goal should be to keep developing your strengths and not wear yourself out doing too much or too little.



YOUR FINANCES 
If you are unable to manage your personal funds adequately, chances are you are likely to be unable to manage your business money.  ‘Being poor is not just a mindset; it’s an attitude and a lifestyle.’
Focus more on ‘resourcefulness’. ‘Resources may increase your current income, but resourcefulness will create an unending stream of WEALTH’.  Apple started out not resource focus but on being resourceful.  Today Apple is renowned not for its resources but for its resourcefulness (innovation). 




Be open to learning and trying new ideas.  Start where your strength lies.  The good news is that whether you decide to quit your job to start a business or stay put, you can still make more money.  You can be an investor, partner, affiliate, etc.

So, are you as passionate as I am for great chances in your finances?  Then join me for my next article – ITS TIME TO MIND YOUR BUSINESS (Part 2). 

Till next time,

Remember – information remains the new currency!

PS. 
This article is for you and someone else.  Remember part of your life goal should be to give and share with others.  Share your resourcefulness with someone else by sharing this article.  Let us help make 2015 a year of great financial success for us and those we care about.  Please share.  


Photo credits (google search).