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How to Become a Defensive Entrepreneur
DEFENSIVE-ENTREPRENEURSHIP.COM

Mind Your Business . . .





Mind your business or it won't mind you. Are you minding your business each and every day? Have you:

 

  • Spoken or communicated with your clients?
  • Looked at your cash flow?
  • Monitored your competition?
  • Checked your product or service quality?



Mind your business . . . it needs to be worked on.

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Be a Student of Your Business





Do you read, study, and research your business? Successful defensive entrepreneurs do.

If you want to stand out as an expert you need to immerse yourself in the business.

You should be:

 

  • Searching the internet
  • Looking at your competition
  • Study your clients or prospective clients
  • Scanning newspaper and magazines
  • Talking to complementary businesses
  • Attend tradeshows, seminars, and workshops



Opportunities are out there . . . you will surely stumble across them by being in the business 100%

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Can You Automate Your Business?





You should always be looking for ways to automate your business or at least aspects of your business. How?

 

  • Create systems
  • Use software
  • Make a process



Why bother automating? Because:

 

  • Repetition is boring
  • Time and resources can be better spent elsewhere
  • No need to reinvent the wheel



Competition is brutal-- everyone is looking to do it faster, better, and cheaper. Get a leg up on the competition by automating and use your time saved with your clients.

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Have You Networked Lately?





Real simple concept here-- Networking is reaching out to your contacts and your contact's contacts to reach out for:

  • Jobs

  • Business opportunities
  • Sales
  • Referrals
  • Connections of any sort


Networking pays dividends today, tomorrow, and well into the future.

If you haven't networked lately-- you should.


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What Can I Do As a Sideline Business?





All of us have thought about what we could do as a sideline business . . .

While I have covered this before  . . . it never hurts to revisit this concept. To answer the question, ask yourself-- what do I have to offer?

  • Skills
  • Talents
  • Experiences
  • Services
  • Products


Only you can answer this question, but we can all do more than one thing. Sit down and brainstorm-- list ideas on paper. Play with different ideas. Ultimately, you will find the solution.

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Make Your Customer's Experience Easy





One of the smartest things a defensive entrepreneur can do is to make their customer's experience as easy as possible.

  • Streamline paperwork
  • Simplify the process
  • Always update and deliver good news


Remember, your customers aren't buying the "how" the are buying the result. That said, why not make the "how" as easy as possible for them-- your competitors won't be able to keep up.

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Is it a Business or a Hobby?





An important question to the IRS is, "Is it a business or a hobby?  If you want write-offs, it had better be provable as a business.

However, I am also thinking that you should also be asking that question yourself.  At the end of the day, you want an entrepreneurial venture to make you money.  With that in mind, let's consider a few questions:

  • Have you made any sales?
  • Are there sales on the short-term horizon?
  • Do you market and advertise the business?
  • Have your expenses been necessary?
  • Do you think in terms of return on investment?


These are a few questions that should help you get a handle on what your venture really is . . . a business or a hobby.

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What is the Fastest Business to Start?





I think the fastest business to start is an on-line business.  Effectively you can start them in a matter of hours.

Starting an on-line business steps are as follows:

  • Get a unique web address
  • Secure hosting and site development software
  • Start building and populating the site with content
  • Get Google Adsense running (Helps to already have an account)


Easy-- huh? I have accomplished this in as little as two hours.

The real trick comes down to:

  • Picking the business/topic
  • Attracting people to the site


This is where the real work comes . . .

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"I Can't Think of Ideas . . . !"





I get so tired of hearing people say they can't think of any ideas.  I think they just aren't trying or they haven't been trained to develop ideas.  Idea generation is a great skill for defensive entrepreneurs . . .

Developing ideas is easy:

  • Study people, places, things
  • Read
  • Watch TV
  • Listen to the radio
  • Surf the web
  • Keep a notebook
  • Start opening your eyes
  • Look for good, bad, and ugly
  • Think about improving things
  • Form opinions about things
  • Listen to the complaints of others
  • Look at failures and disasters
  • Think about how it could have been better handled


Ideas are everywhere-- I find some of my best ideas by looking back at my old ideas.  Most ideas are really new combinations of old ideas.

Think!  Remember, practice makes better.


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Learn Entrepreneurial Skills





We should all learn entrepreneurship in some form or another-- I advocate defensive entrepreneurship building a business on the side for protection against job loss and to make extra cash.

Regardless of the type of entrepreneurship you learn or practice, the skills one acquires are invaluable in life or business.  Those skills include:

  • Risk taking
  • Planning
  • Supply and demand
  • Marketing
  • Selling
  • Creativity
  • Imagination
  • Negotiation
  • Personal responsibility


These are just a few of the skills you pick up from entrepreneurial endeavors.  The best time to learn them is when you are young and can more easily afford to make mistakes.  However, many entrepreneurs started or found success later in life (Col. Saunders and Ray Kroc come to mind).

Want these skills-- start today!

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