Traits You See In Every Successful Entrepreneur

Starting your own business is hard work filled with long hours, personal sacrifice and a daily array of new problems and challenges. Anyone who tells you otherwise has probably never started one themselves. If you don’t have the drive to navigate these things, your business could implode faster than it began.

Understand, entrepreneurship is not for everyone. To determine if you have what it takes to make it, you need to be able to possess a number of quality traits. Leadership is at the top of that ladder. If you can’t lead, chances are you won’t be able to guide your company and its employees through growth and on to success.

If you seek a challenge filled with risk but also with financial potential, then you may be on your way to becoming a successful entrepreneur. Here are the most important traits I believe every entrepreneur should possess.

No one has ever gotten ahead by sitting back and waiting for opportunities to find them. Successful people go out and create success by working tirelessly to solve problems that get in their way.

Adapt to change
Entrepreneurs must be able to adapt to changing situations without unraveling. Also, they must be able to motivate their team by helping them reach new goals and opportunities. Often times, successful entrepreneurs are driven by a more complete vision than just the task at hand.

Ethics and integrity
It goes back to the old saying, “cheaters never win.” It’s important to maintain high standards of integrity because, if you don’t, nobody will want to do business with you, especially when you are working with clients or leading a team.

Be willing to fail, then move on
Starting a business is risky and doesn’t always work out. Successful entrepreneurs must be able to accept that things don’t always go according to plan. Do not be afraid to fail, put your idea out there and give it your best shot.

Serial innovators
The mind of an entrepreneur is always spinning with new ideas. There has to be a constant drive to develop new concepts and improve on existing ones. That’s where the term “serial entrepreneur” came from.

In almost every case, entrepreneurs never succeed on their own. You are only as good as the people who support you. Surround yourself with a network of knowledgeable people who are as passionate about your project as you are. It takes a network of contacts, partners and resources to thrive.

Get on Track With Personal Financial Planning

Personal fіnаnсіаl planning іѕ important, аnd оnе оf thе mоѕt іmроrtаnt thіngѕ уоu саn dо іѕ tо create a gооd budgеt. Evеrу раrt оf уоur fіnаnсіаl lіfе ѕhоuld bе tаkеn іntо ассоunt. If уоu аrе nоt careful іn рlаnnіng hоw уоu ѕреnd, thеn уоur реrѕоnаl fіnаnсіаl planning саn еnd іn dіѕаѕtеr.

A grеаt рlасе tо start іѕ tо fіnd a quality budget spreadsheet оr соmрutеr рrоgrаm. Thеrе аrе mаnу free wеbѕіtеѕ thаt оffеr thеѕе personal financial planning malaysia tооlѕ, but nоt аll рrоgrаmѕ аrе suitable fоr аll іndіvіduаlѕ. Yоu wаnt a ѕрrеаdѕhееt оr рrоgrаm thаt tаkеѕ іntо ассоunt аll аѕресtѕ оf уоur ѕреndіng. Thеrе аrе mаnу ѕmаll іtеmѕ thаt уоu mіght nоt thіnk оf including. A gооd рrоgrаm wіll рut thеm tо уоu.

Whеn уоu аrе creating уоur budgеt, mаkе ѕurе уоu set аѕіdе a ѕресіfіс аmоunt fоr ѕаvіngѕ аѕ wеll аѕ rеtіrеmеnt. Evеn іf уоu оnlу gеt tо save $5 оr $10 a month оn a savings ассоunt, іt wіll bе worth іt. Smаll аmоuntѕ wіll add uр аnd уоu wіll hаvе thе ѕаtіѕfасtіоn аnd ѕесurіtу оf ѕееіng уоur ѕаvіngѕ account grоw. Mаnу bаnkѕ еvеn оffеr tо ѕеt uр аn аutоmаtіс transfer оf fundѕ frоm уоur сhесkіng ассоunt tо еасh mоnth fоr уоu. Thіѕ іѕ a great реrѕоnаl financial рlаnnіng tооl.

What You Need To Do Before Creating Your Budget

Thеrе аrе a fеw thіngѕ уоu nееd tо dо bеfоrе уоu create уоur budget. Yоu wіll nееd tо gather аll уоur bіllѕ, уоur bаnk ѕtаtеmеntѕ аnd, оf соurѕе, уоur рауmеnt receipts аѕ wеll. Thіѕ wіll еnѕurе thаt уоur реrѕоnаl fіnаnсіаl planning іѕ quick аnd ѕmооth аnd уоu wіll nоt hаvе tо kеер lооkіng fоr аnоthеr іnvоісе оr оthеr bank statement. Yоu wіll аlѕо bе аblе tо gеt a bеttеr рісturе оf уоur fіnаnсеѕ аѕ wеll.

Mаkе ѕurе thаt аll уоur revenue ѕоurсеѕ аrе lіѕtеd іn уоur budget.

Evеn іf уоu hаvе mоnеу thаt уоu receive frоm іnvеѕtmеntѕ оr a jоb nеxt door, уоu wіll nееd tо lіѕt thаt іnсоmе аѕ wеll. Onlу whеn уоu gо іntо dеtаіl саn уоu mаkе effective реrѕоnаl fіnаnсіаl рlаnnіng.

Onсе уоu hаvе lіѕtеd аll уоur іnсоmе, thеn іt іѕ tіmе tо lіѕt аll уоur expenses.

Mоѕt people fіnd thіѕ раrt оf personal fіnаnсіаl planning mоrе dіffісult. Tаkе іntо ассоunt аll уоur ѕреndіng, nоt juѕt grеаt thіngѕ. Thеѕе daily lattes саn асtuаllу іnсrеаѕе rаріdlу аnd ruіn еvеn thе bеѕt plans. But, іf уоu аrе hоnеѕt іn уоur budget thеn уоu саn рlаn fоr thеѕе lіttlе luxurіеѕ аnd ѕtау оn thе rіght trасk fіnаnсіаllу.

A budgеt ѕhоuld bе a реrѕоnаl fіnаnсіаl planning tool. Yоur lіfе wіll сhаngе аnd уоur ѕреndіng аѕ wеll. A monthly rеvіеw оf уоur budgеt wіll hеlр уоu ѕtау сurrеnt аnd mаkе thе nесеѕѕаrу сhаngеѕ. Thіѕ wіll аllоw уоu tо hаvе реасе оf mind аnd rеmаіn wіthіn уоur mеаnѕ.

Thе mоѕt important personal financial planning malaysia tool аvаіlаblе іѕ a budgеt. Whіlе ѕоmе people mау ѕее іt аѕ restrictive, іt саn асtuаllу рrоvіdе thе financial frееdоm уоu nееd. Yоu wіll knоw hоw muсh mоnеу уоu hаvе аnd hоw muсh уоu саn ѕреnd аѕ wеll. Sо аѕ уоu саn ѕее, іt іѕ easier thаn уоu thіnk tо start wіth реrѕоnаl fіnаnсіаl рlаnnіng.

4 Ways to Raise Money for Business Expansion

Securing funding to get a start-up off the ground is often the entrepreneur’s introduction to business financing. It doesn’t stop there, though. Financing continues as a normal part of doing business as long as a company continues growing and expanding. What an entrepreneur learns in the early stages of funding a start-up should benefit him as he tries to raise money for expansion.

Funding options for business expansion are as plentiful as those available to new start-ups. As such, company management has to be equally diligent about researching every option. Most companies will look at the four options described in this post. If none of them work out, there are others.


Commercial Banks


Where do you go when you need money? A bank, of course. We live in a culture that tends to first turn to banks when we have financial needs. It is no different in business. Companies looking to expand contact banks to inquire about small business loans. Then they go through that same application process we are all so familiar with.

Lest you think commercial banks are only for small businesses, they are not. Even large corporations take their business to commercial banks. The big downside is that this option is often limited. Commercial banks only offer a small range of products that don’t necessarily leave a lot of room for flexibility. They also have longer application processes and tighter lending restrictions.


Private Lenders


Not all business financing has to run through big commercial banks. Private lenders are another option. Lenders like the UK’s Nationwide Corporate Finance tend to offer a wider range of loan products that are more flexible to the needs of the customer.

One of the big differences between private lenders and commercial banks is that private lenders loan their own money. By contrast, banks loan the money they receive from depositors. Just this one difference alone gives private lenders more freedom to tailor their loan products to businesses. They tend to offer a less complicated application process, higher approval rates, and very competitive interest rates and terms.


Private Equity


Private equity investment is another option for business expansion, but it does come with certain strings attached. Where banks and private lenders loan money in exchange for interest payments, private equity investors tend to want partial ownership of the company commensurate with the size of their investment. So while private equity investors can be more flexible, their investment does give them a real interest in the company they are investing in.

The other thing to know about private equity is that it can be difficult to get investors on board for expansion projects. Any such project will undergo careful scrutiny by investors who are very shrewd about their investments. Any decision to invest will be fuelled by a desire to use the expansion project to make more money which could, in some cases, lead to clashes between investors and owners.


Peer-To-Peer Lending


The least utilised of the four options is peer-to-peer lending. When it first came onto the scene a few years back, peer-to-peer lending was the hottest thing going in financial circles. It has since cooled off to a certain degree. But it’s still an option for obtaining business financing for expansion.

Peer-to-peer lending is a scenario in which a number of investors pool their financial resources through a central platform. Borrowers go to that platform in search of financing, just as they would if approaching a private lender or commercial bank. The borrower’s application is reviewed and then a decision rendered.

Because peer-to-peer platforms are neither banks nor private lending institutions, they are free to conduct business in a slightly different way. Peer-to-peer lenders don’t have brick-and-mortar offices you can visit. They don’t have loan underwriters involved in the approval process. Peer-to-peer lending is pretty much a direct transaction between lenders and borrowers, on their own terms.


Weighing All of the Options


Your average business should be able to obtain financing for expansion using one of the four options described here. It’s up to business owners to weigh all of the options against their particular situation. Banks are the most traditional solution, but they also tend to be the most difficult option.

Private lenders are known to be more flexible and more willing to work with borrowers to find the best possible solution. They have some of the highest acceptance rates in the industry.

As for private equity and peer-to-peer lending, they are great options for companies that either cannot obtain financing from banks and private lenders or choose not to do so. Both connect businesses directly with those who will finance expansion in a manner that is surprisingly free of red tape and bureaucracy.

Three things you should never do as a trader

Do you really want to become a successful Forex trader? The intention of becoming a Forex trader shouldn’t be something that was created out of greed. Instead, it should be something that you genuinely need. However, the traders who enter the market nowadays enter with the intention of becoming successful in a few months and making a lot of money. Of course, the Forex market is a great option to make a lot of money and to become successful. But, if your intention is not genuine, things can get harder. You might even quit the market almost as soon as you entered it. Becoming a successful trader is completely related to your thoughts. Anyway, there are certain things that you must not if you intend to become a great trader. When we look at Singaporean traders, they have avoided these three things which are why they were able to pursue their dream of becoming professional in the Forex market. So, let’s find out more about three things that you must never do if you want to become a successful Forex trader.

Don’t rush into decision making

Most naïve traders enter the market due to the excitement of making money. They think it is possible to make money as everyone claims. But it is not possible! This is why you must stop making quick decisions. If you think trading is simple, you must start reading some legit articles on trading. As you are a beginner, you might find things fascinating and interesting, but you tend to avoid reality. Or eventually, it gets avoided. This is why it is important to stay calm when you are making decisions in trading. Of course, you can become a successful trader, but it will take some time. Hence, stop rushing after success.

Those who are new to the investment business often things using too many indicators is the best way to make money in retail trading business. But in reality, an overly complicated system always make things complex. The professional uses SaxoTraderPro online trading platform and analyze the market data based on simple logic. For instance, they use simple trend line tools to ride the long term market trend. Finding great trades with a simple trading system is not all hard. Just make sure you are not risking more than any amount which you can’t afford to lose. Using a complicated trading system will force you to make a bad decision. In fact, it will cause an overtrading problem. So, never trade the market with a rush. Try to become a conservative trader so that you can easily learn new things from the market. Take your time and develop your skills to save your investment.

Don’t let them fool you

We do agree that advertisements are alluring. Even the articles and Forex brokers brainwash the naïve traders. So, you think that you can easily make profits. But earning a quick income or becoming successful overnight are not possible things. Besides, these are common sense, and you must know to understand it. However, as beginners, you must take time before making any decision. It’s okay to decide after thinking many times. Nobody can force you, so be firm in whatever decision you make.

Don’t imitate others

If you think you are capable of becoming a successful full-time trader, do it! But before you do it, make sure to consider the things that need to be considered. For example, you must have experience in trading, or you must have mastered the trading skill if you want to trade full-time. However, the point is you don’t have to imitate a successful trader or some other traders. You can become a great trader if you follow your style of trading and if you stick to your aims and goals. Even if you have a role-model in trading, it is better to stick to your style of trading.   

Business loans v personal loans – what do you need?

Loans have become essential. Whether you are a business or an individual, there might be times when loans would become necessary for you. From emergencies to meeting the needs, there are several reasons why one would need to access loans. Businesses often need loans in order to financially support a number of operations.

There are many platforms like where you can access a number of loans. However, there is a need to understand the difference between two major types called business loans and personal loans.

Personal loans

Personal loans are perhaps the most common types of loans that we often come across. These are given to individuals and not businesses. The way banks and other financial institutions that offer loans perceive individuals and businesses in a very different manner. Personal loans are normally accessed by individuals. Common features include unsecured loans, smaller values, faster payments and accessibility for startups.

Given the value of personal loans are normally small, banks do not inquire much into personal and financial information of the borrower. Even though bank would assess the ability to repay the amount but it might not be much detailed. Moreover, the need to secure the loan with personal assets is also declined given the low value. Personal value loans are normally unsecured, however, you may come across secured loans as well.

Furthermore, personal loans have now become one of the most used resources for individuals who want to begin with startups. This might be the only option for them given alternative funders are less likely to provide with secured and more organized forms of loans.

Business loans

Given the dramatic increase in number of businesses on a global scale, the amount and variety of business loans have increased. Hence, there are some considerable differences between personal and business loans. Business loans are typically of much higher value. Statistics have shown that most business loans far exceed the value of personal loans.

Moreover, the options available are more. The clear reason behind this is that businesses are now getting more and more diverse. The potential for growth is always increasing. This means that such lenders need to meet the needs of businesses all across the globe. This is something that is not required when it comes to personal funding.

There are many business loan providers out there. This gives us a wide range of options to choose from. However, it is important to consider a number of factors when choosing the right business loan provider. Make sure you go through the customer reviews as well in relation to the services being offered by the business loan provider.

The bottom line

There is a major difference between business loan personal loans. This is why you first need to understand the difference and then get your hands on the relevant loan. Make sure you know what the pros and cons are of both types and make the right selection to make the most out of it.

How To Get Into Shape In An Extremely Cost-Friendly Manner

People tend to think that getting into great shape requires personal chefs, a masseuse, and a trainer waking you up at the break of dawn daily. This could not be further from the truth as it just takes changes in daily routine in order to start your fitness journey. There are ways to get into shape without breaking the budget but they do not exclude hard work. Change can be tough especially if we are trying to break habits that we have carried for years. The following are tips that will help you get into shape on a budget this year.

Stationary Bikes For Your Home Don’t Have To Be Expensive

For less than $200 you can invest in your own personal stationary bike. This can be used at any time of the day and cuts out a commute to the gym as well as the possibility of having to wait for equipment. Take the time to set out certain times of the day that you will get a 20 or 30 minute ride in. The morning with a cup of coffee can help you get your day going and wake you up ready to be productive for the remainder of the day. Combining biking with something like push-abs and abdominal exercises can make for a complete workout before you even leave home for work.

Meal Delivery Services Can Help You Budget For Food

Finding out how to eat in a healthy manner as well as supplement your diet with nutrients can be learned on great online resources like Happy Body Formula. There are a plethora of meal services available that allow you to eat in a healthy way without sacrificing delicious taste. Some of these are quite budget friendly and can help reduce unnecessary unhealthy purchases that nearly everyone makes when they venture to the grocery store.

Gyms Vary Immensely In Price

Gyms vary so much in price depending on what they offer as well as the brand they are a part of. Crossfit gyms tend to be expensive due to the high number of coaches compared to gym members and the various pieces of equipment they are constantly investing in. Other gyms offer $10 to $20 a month memberships but they might lack some of the equipment that you desire. The best case possible is having multiple gyms to attend on a trial basis until you find the one that matches what you need as well as the price you desire.

The World Is Your Largest Gym

Going out for a long bike ride or a hike can bring you closer to nature while getting decent exercise in. The outdoors can be perfect to get nearly any type of workout in as long as the weather permits. Getting a weight vest can be perfect for the person that wants to maximize their burning of calories while walking the dog or taking a stroll around the neighborhood. Even running hills will burn calories quite quickly even in a shorter workout.

As you can see you can get that body you have desired to have for years through hard work and planning. This can also be done on a budget so you don’t have to spring for trainers and copious amounts of supplements promising to help you toward your goal.

How Do I Know if I Qualify for Social Security Disability?

A long-term injury or disability can be incredibly difficult to manage and adjust to, especially if you’re unable to work. If you’re used to being self-sufficient or a provider for others around you, it can be hard to come to terms with your new limitations. The good news is that there are options. If your medical condition prevents you from working and earning money, there’s a good chance you may be able to qualify for social security disability, which will give you at least a basic income to live on.

When people talk about applying for disability, they’re usually referring to one of two government programs: Social Security Disability Income and Supplemental Security Income. The primary difference is that SSDI is for individuals who have a documented work history, while SSI is for people with lower incomes or insufficient work history to qualify for SSDI. Each has their own requirements for qualifying.

Applying for SSDI

Social Security Disability Income is a benefit you’ve earned in advance because of your contributions to social security over time through the taxes on your paychecks. Based on how much money you’ve paid into the system, you can get some of it back to replace the income you would be earning if you weren’t dealing with a disability. The requirements for the number of years you’ve worked and contributed to the system depend on how old you are. If you are older, you’ll need a more extensive work history from before your disability. Check the requirements to see if you qualify.

Then your medical condition is going to have to match the Social Security Administration’s standards for disability and impairment. The SSA keeps records of different medical conditions and the severity necessary for SSDI approval. You’ll need to provide evidence, including medical evaluation, that shows your condition restricts you from working, or at least from doing the work that you used to do. Approval for SSDI also requires that your income not be above a certain level. To qualify, you’ll have to make no more than $1,000 or $2,000 a month, depending on some other factors.

Applying for SSI

Supplemental Security Income is a similar program to SSDI, but it is designed more for low-income individuals restrained by disabilities, even those that have not regularly worked in their lives. There is no requirement that you have paid into the system before to be eligible.

As far as medical requirements go, adults with disabilities need to meet the same requirements as those listed for SSDI. Children with disabilities can separately receive SSI, however, and there are separate standards for children to measure their level of impairment. But regardless of the listed requirements, you may be able to prove your disability with a medical exam showing that you’re incapable of doing regular, full-time work. The maximum income level allowed for someone to qualify for SSI is also lower than that set for SSDI eligibility. It can take some research to be sure if you qualify, but it’s worth a try, even if you’re not certain.

Advice to Young Startups Looking to Make an Impact

When you’re thinking about diving headfirst into the entrepreneurial trenches, any piece of advice you can get from those who came before you is invaluable.

To get you started on the right foot in your startup journey, I’d like to share some of the lessons I learned along the way during my tenure in the venture capital industry.

First, remember that starting a company requires both time (lots and lots of long hours) and personal sacrifice. That’s why it’s important to make sure your business idea is something you believe will transform the market or directly impact a major void in a market. . Make it meaningful and something that will create significant interest from consumers.

A second guidance point, and this is probably the most critical: surround yourself with individuals and team members who are smarter than you and passionate about being part of a start-up. You need to build a diverse team of people who have a variety of backgrounds and perspectives and who can give you helpful, educated input and won’t be afraid to provide their opinions on the direction of your company. This will lead to higher-quality decisions and create a dynamic organization.

Be flexible. When you’re building something from the ground up it’s inevitable that you’ll make mistakes in the process. Being able to adapt to the unexpected will help you stay focused on what matters and the broader, more long-term goals. Don’t allow yourself to derail over the small things, and be prepared to react quickly to bumps in the road

All entrepreneurs need to prepare for every aspect of running a business, and this includes developing an ability to manage the company’s finances. Whether you are going to ask a lender for a loan or seek an investment from a venture capitalist, make sure to go in with a solid, well-researched business plan that shows the market opportunity.. Remember, angel investors hear pitches all day long and are really looking for a business idea that will stand the test of time and produce the largest ROI.

WIth that said, find a way to grab the investor’s attention. Be upfront about your business’s journey and your plans for its success.

Never fear failure. Instead, recognize that failure can teach you valuable lessons about your business as well as your career path. What works for one person may not work for you – don’t get discouraged. Try again until you get it right.

And my last piece of advice – go for it. There’s no need to spend years working on a business model. Just go and start. Do it. Test it. Good luck!

Entering Venture Capitalism? What to Know

One of the questions I often receive as a venture capitalist is, “How do I become a venture capitalist?” New graduates and startup veterans alike want to get into the industry, and, I admit, it can be enticing.

There are many ways to break into the venture capital world, but they can generally be broken down into two categories: serial entrepreneurship and investment banking. I define a venture capitalist as someone who distributes third-party funds into new, early-stage ventures. An angel investor is someone who invests in companies with their own capital.

If you want to be a venture capitalist or enter in the industry, my advice is to start by building your experience in the greater financial industry as soon as possible. Ask an established VC if you can shadow them and ask as many questions as you can.

You’ll also need strong analytical skills with the ability to research markets and have a mix of foresight and business savvy to pick winning investments. From my experience, success in this area also directly correlates with an ability to keep up with changing industry trends.

Finding entrepreneurs or young businesses at the earliest stages in the process is another critical skill. One way to find these potential investment opportunities is to attend meetups for emerging technologies and identify attendees offering the most potential.

Once you’ve discovered and pinpointed a potential business to invest in and have completed the necessary analysis to suggest it will succeed, the next step is figuring out finances. How much money does this business require? This isn’t the final stage of the process, but shaping out a basic set of terms is fairly easy — and highly important.

Working as a venture capital can be highly stressful, yet at the same time lucrative. Be prepared to clock in a lot of very long hours with most of that time spent listening to pitches by potential companies. It’s also, in my opinion, extremely rewarding to watch a start-up you invested in succeed.

Why Connected North Deserves Our Support

Connected North changes lives through technology. The non-profit organization uses high definition video to connect children in isolated northern communities. Technology can help bridge the gap between teacher and student, allowing those in remote areas to gain access to essential educational resources and learning opportunities.

Connected North works with content providers, funders, and community partners who help deliver immersive and interactive youth engagement and education to Indigenous students across the country.

Cisco Canada, the Toronto-headquartered tech company that launched Connected North, provides the video technology. Besides the basics of education, the goal is to help Indigenous students improve their language skills, as well as share histories and stories with other communities, and provide mental health support.

The program has been recognized by the International Society for Technology in Education, with Mali Bickley, on behalf of Connected North, awarded for outstanding contributions to video conferencing in education. Bickley has been a key member of Connected North as a Classroom Collaboration Specialist since September 2015. Bickley creates customized and authentic learning opportunities for Connected North students and teachers, including a mentoring session with Canadian WNBA player Kayla Alexander and students in Nunavut.

Participating Connected North schools include the Innuhaq School in Arctic Bay, Ontario, the Sk’aadgaa Naay Elementary School in Skidegate, BC, the Ghuch Ria Community School in Carcross, Yukon and the Deh Gah School in Fort Providence, NWT.

The Connected North network serves around 10,000 students across 42 schools in all three territories and five provinces. But many more northern schools are interested in getting involved. That’s where we can help.

Last year, I became involved in the Tech4Good Connected North On-Ice Challenge, a one-day hockey tournament where participating teams earn funds to participate in a “draft” of former NHL players, who then join their team.

Bryan Trottier, Canada’s most decorated Indigenous athlete, was the first former NHL player to sign up. Of Metis heritage, Trottier recognized the importance and potential for Connected North. And when he heard that we needed to attract teams, he called me. Now, Bryan and me go back a few years. We first met at the Road Hockey to Conquer Cancer event in 2011 and we share a passion for hockey. So I didn’t have to think twice when Bryan called asking for my participation.

Working with others on my team, we raised $16,700 for a cause that generated more than $300,000 for Connected North. Plans are already underway for another tournament in 2019. I’m impressed by the work done at Connected North and proud to support them.