According to Leonard Fischer, President/CEO of BeneTrends, one of these new financing options is the use of a person’s existing retirement funds-a pension, profit sharing, 401(k), IRA-which allows that person to start the business he or she has always dreamed of without tax penalties, consequences or mountains of debt.

Under the Employment Retirement Income Security Act (ERISA), retirement funds can be transferred into usable capital for business investments or operations. If a person has more than $40,000 in a retirement account and is not currently employed by the company that holds those funds, he or she qualifies for this Small Business Administration (SBA)-recognized financing approach to start a business.

Retirement funds can be used for any business purpose, including:

• Purchasing a franchise or existing business

• Start-up expenses, such as purchasing property, equipment, etc.

• Working capital, including paying salaries, franchise fees, etc.

• Business expansion, such as funding additional franchises, locations, etc.

• Equity toward SBA or other loans.

The thought of dipping into one’s retirement can cause some apprehension. Through this investment strategy an individual actually has more control over his/her retirement-instead of gaining minimal growth dependent on the stock market, those savings are actually being invested in one’s own business. This approach often allows an individual to set aside more money for retirement than ever before.

“Today’s entrepreneur faces an environment of tremendous competition, complexity and opportunity, so starting a business the right way is more important than ever,” says Dr. Germain Boer, Director of Vanderbilt University’s Center for Entrepreneurship. “This financing method is a good option for an individual who has accumulated funds in his/her retirement accounts.”

The entire process generally takes two to four weeks to be completed, and can be done by phone, email, fax, FedEx and regular mail.

Working with an experienced employee benefits plan expert, starting a business is as simple as these four steps:

Step 1: Establish a C-corporation.

Step 2: The new corporation creates a retirement plan.

Step 3: Funds are rolled over into the corporation’s new retirement plan.

Step 4: The new retirement plan purchases the stock of the corporation.

“So many people have watched their dream of owning their own business go out the window due to lack of funding options. We help people achieve that dream every day using money they already have,” says Fischer.

If you’re ready to explore this innovative financing option, be sure to consult an expert to guide you through the specialized process.

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Doing research can be performed with ease presently, thanks to the power of the Internet. If you conduct your search online, you find other business ideas that can be used as an entrepreneur. Beginners will gain a lot from the information they can get online about business ideas.

Because of the various business proposals you can find online, you will always find it hard to pick the ones you love. It is advisable to make a decision when you use your instincts. For example, if one business plan feels right, take note but, if you have second thoughts, discount it.

You should inspect more by gathering a lot of information about the business plans. Certainly, franchise is a fantastic idea. By choosing this occupation alternative, you can be the leader of your own corporation and, you can earn immense revenue.

On the contrary, according to experts franchise and other Internet businesses guarantee the same job opportunities. It will all differ on how you handle the situation.

Not all individuals who want to own a company can achieve this goal. Being an entrepreneur is tough. There are a couple of things to consider before deciding on becoming an entrepreneur. You cannot be sure that the business can provide you soaring profits in the future particularly if you do not know how to conduct specific business conditions.

Most importantly, you must be able to work alone. As you are an entrepreneur, you are already self-employed. It would also be better if you can have the boost of your loved ones.

And now consider this remarkably compelling example. As mentioned earlier, further investigation may be necessary to assess the company ideas that you have in your hands. Beginning a business from scrape entails a lot of work. Presumably the business you are about to begin is also obtainable in franchise, which business plan will you pick?

For the smart entrepreneurs, they will run for franchising because it requires less effort. An established business operation is less expensive and less risky. However, before you make a conclusion, you must analyze all the pros and cons. This is a necessary element of deciding on the paramount business plan.

Once you have chosen the right business plan, you can get it started. Soon, you will reach the financial benefits you are envisioning. Whether you plan to begin a business of your own or take to franchising, the most salient thing is to build up goodwill. All the dealings of the entrepreneur are required to be focused on achieving all the goals of the business.

To become an entrepreneur, you must follow a line of investigation on all the business opinions that you can get online. The Internet can help you a lot. Also, remember to expand on the required qualities and expertise as an entrepreneur.

A lot of resources can be obtained on the Internet or you can speak to an established entrepreneur so that you can have an idea on what you are about to undertake.

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Small business owners are expected to be creative and inventive, otherwise how could they run their own firm? If you have a sneaky feeling that creativity is not one of your strong points what can you do to stimulate your brain and get it kicked-started?

Be Unlimited

Too many people are ‘limited thinkers’. They have their world placed squarely in a box and nothing can exist outside of that. If the newspaper reports something then it must be right. If Joe next door says that something is impossible then he must be right. As a small business owner, you cannot afford to be a ‘limited thinker’. You have to be an ‘unlimited thinker’. Get into the habit of seeing no boundaries; decide that there are no taboos. Have the belief that with a bit of focus you can find a creative solution to all of your problems. This is the foundation for a creative thought process.

Be Future-Focused

Creative ideas invariably come when you ‘look’ into the future. The feeling of propelling yourself forward and seeing the problem solved is a great motivator. Do you think you could achieve the same result if you were backward focused? I don’t think so! Train yourself to be future-focused, always looking ahead, not a traditional thinker who tries to find answers in today’s world.

Be a Writer

Once you open your mind to the joys of creativity the ideas will quickly start flowing, as if someone has opened the flood gates! Just like flood water, unless you catch it the ideas are lost for ever. Capture all your ideas by carrying a small pocket notebook with you. As soon as an idea pops into your mind, write it down. It doesn’t matter how outlandish it is, you can look at it in the cold light of day later on.

The fact you are responding to the ideas by noting them will further encourage you to be even more creative – good deeds encourage more good deeds!

Be Clutter-Free

If you are naturally an untidy person, then get out of the habit! A cluttered office will lead to a cluttered mind. You cannot expect your brain to work efficiently when all it’s doing is constantly reminding you how untidy your office is. To be creative remove all the clutter from your life and free your mind.

Be Action-Oriented

All of these points are great, but if you don’t take any action with your ideas, then you may as well not have bothered. An idea is nothing but a thought unless you take a specific action to help bring it to life. Periodically review your notebook and see if there are any hidden gems, or ideas which can be quickly actioned. A lot of your ideas may not suit at all but in there somewhere is probably an idea, which if acted upon, could change you or your business. Commit fully to move forward on as many of your ideas as you can.

Don’t be afraid to break down the boundary walls. As John Stuart Mill said, “That which seems the height of absurdity in one generation often becomes the height of wisdom in the next.”

Let me close with one question – can you be creative enough to be dismissed as a dreamer? No? Then get practicing!

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One big difference is how they handle failure. Successful entrepreneurs have a positive mindset around the experience of failure.

When they fail, they look at it as a result. They took “x” steps and produced “y” result. “Y” didn’t work, so it’s back to the drawing board to change the formula and try again.

Many new business owners don’t make it out of the gate because as soon as they fail, they figure, “Who am I kidding? I knew it wouldn’t work” and then quit!

If everyone had that mindset, we wouldn’t have electricity, airplanes, vaccines … actually, we’d have pretty much nothing!

Every single success in this world was preceded by one, two — a thousand failures!

Babe Ruth set a record for the most home runs. Did you know he also had the record for the most strikeouts?

Thomas Edison failed more than a thousand times before he perfected the light bulb.

If you’re not failing, you’re not pushing yourself enough. You are remaining in your comfort zone and cannot expect to reach the level of success you’re capable of.

Failure is what allows you to learn and grow. If you quit as soon as you meet with failure, you will always remain exactly where you are.

Albert Einstein once said, “You cannot solve a problem with the same level of thinking that created it.”

And, “The definition of insanity is doing the same thing over and over again and expecting a different result.”

What these statements teach is, in order to overcome failure, you must think differently and act differently. It is what separates the ordinary from the extraordinary!

You might have to seek out guidance from someone else who can offer the expertise you need. You may need to inject new perspectives and talent by forming a team around your project.

Fear of failure is one of the biggest obstacles that hold new business owners back. Failure should not be feared, but embraced because a life lived in fear is a life half lived.

If you’re stuck and unable to move forward because of fear of failure or because you have failed in your previous attempt, bring someone else into the mix to offer support and guidance.

Tweak your plan and give it another go.

Engrave the words of the following masters into your mind and never, EVER give up.

Anyone who has never made a mistake has never tried anything new. – Albert Einstein

He who fears being conquered is sure of defeat. – Napoleon I

Problems are not stop signs, they are guidelines. – Robert Schuller

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In my short stint as an entrepreneur I’ve failed more times than I can count. I have also had my share of success, but it’s not even close to equal. The failures far outweigh the successes, and I’m sure I have a lot more failure ahead of me. I’m OK with that because I know that as soon as I stop failing, I have stopped trying to innovate. It’s the nature of the business of being an entrepreneur, and of success in general.

If it were easy, everyone would do it. It is naive to think that every good idea that you have will result in a successful business venture. I have yet to hear an entrepreneur say “every single idea I come up with seems to work.” More likely, you hear something like “I failed at my first five businesses before this one took off.”

Think about that for a second. Five businesses. Sometimes the number is three, sometimes it’s 20, but the important point is that most entrepreneurs don’t hit a home-run with their first company. It really does amaze me – how many people have the stones to fail five times and still start a sixth business? You have to be supremely confident and treat those previous five times as a learning experience for the sixth. And if number six fails, you have to do the same and move on to number seven.

In my opinion, the most important thing is how you deal with failure. Once you accept that it’s inevitable, you are able to learn from your mistakes and move on. It’s easy to let the failure consume you – not so much because you are pessimistic, but more so because it is hard to see something that you poured your heart and soul into be ignored or rejected. As soon as possible you need to come to the realization that your business is what they are ignoring or rejecting, NOT you. The sooner you do that, the sooner you can objectively analyze why you failed and learn the things necessary for improvement in the future.

Failure isn’t easy and is extremely frustrating, but it’s a necessary part of success. Don’t believe me? Ask Thomas Edison, Bill Gates or Michael Jordan! Ok, asking Thomas Edison might be a little tough, but you get the idea

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Although the future of no business can be predicted, a well written plan enables managers to make decisions based on reality rather than speculation. The research that a Business Plan Writer conducts during the creation of a plan will always reveal solid facts on which successful businesses can be constructed. It is the very same facts about particular markets and industries that companies can plan around and for, in an effort to thwart the negative impact encountered when inevitable trends arise. Adversity will happen, but the character of a successful business lies in how “pitfalls” are overcome. Hiring a professional Business Plan Writer gives a start-up company a chance before it is conceived and aside from the production of documentation required for funding, business plan writers enable entrepreneurs to take ideas from the mind and bring them to fruition.

Unexpected changes in trends will happen, which is why designated company members can always revisit the information laid out in the original plan with the help of a Business Plan Writer. Clients of business plan consultants should not become distracted by unanticipated dilemmas within their respective markets because the fabrication of the original document provides an ongoing means by which to build even further on current achievements, and defeat the negative effects of inevitable misfortunes. It is the responsibility of company management to meet change with change. Nevertheless, a well written, precise, and detailed business plan albeit a financial sacrifice, will always benefit a company not only in its acquisition of start-up and operational finances but in its quest for prosperity.

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Society and the formal education system promote the first method of earning money which involves trading time for money. In other words, you work for someone else for a specific amount of time and then they pay you. Working for someone else drains your energy and you don’t make much money.

The second way to earn money is utilized by a small portion of the population and involves trading money for money. In other words, you are earning money through investing. Investing can be risky because if you lack additional funds then how can you invest any money in the first place? Therefore, many people can’t even try this option because they only have enough money to pay their bills.

The third way to earn money is the best option. This entrepreneurial option involves trading expertise/value for money. This is the strategy of entrepreneurial experts. You have a flexible schedule, work less, and earn more. You can make thousands of dollars a day in this option.

In order to earn money through trading expertise/value for money you need to first figure out who you are and what you can give to others. What information do you know that could help others? You can find value from previous work experience or even from your hobbies. From this you can create your intellectual property.

What is Intellectual property? How big is the market for Intellectual property? Is there room for you in the Intellectual property market? These may be a few of the questions you have when you are investigating the information marketing business. First of all, anyone can create intellectual property. You don’t need to be a Rocket Scientist. You just need to have an area or expertise, or access to an expert, and a drive to succeed.

Intellectual property combines e-commerce and book publishing. For example, you can write and sell an eBook. Recent research has found that approximately 6 out of every 10 American adults surf the Internet on a daily basis seeking out entertainment, education, and to shop for products. People are more comfortable buying online then in the past. The market through the Internet is global and encompasses millions of people. Therefore, the information marketing business has room for everyone!

When you market on the Internet, you market to your niche. Therefore, you don’t have to worry whether or not your neighbor will want to buy your product. The Internet opens the niche market for you.

If creating and selling intellectual property on the Internet is so simple, why isn’t everyone doing this? The formal educational system and previous societal beliefs are to blame. In school, we are taught to finish school and then become an employee at a company. The entrepreneurial spirit is not promoted; in fact it is almost shunned.

Don’t let societal beliefs stop you. The intellectual property market is wide, diverse, and ready to fill your pocket book with cash.

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1. Self-confidence

This is that magical power of having confidence in oneself and in one’s powers and abilities.

2. Achievement Oriented

Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Risk Taker

They realize that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals.

Entrepreneurs are people who will make decisions, take action, and think that they can control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck.

So which of these three main characteristics is the most important? Believe it or not, it has to be self-confidence. Without self-confidence, nothing else is possible. If you don’t believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. Here are a few things to keep in mind for maintaining a higher level of self-confidence.

Positive Thinking

Well, it all starts with a positive attitude, doesn’t it? Believing that something good will happen is the first step. Negative thinking simply is not allowed. You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

Persistent Action

Now all of the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses are allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can’t get by a certain step, then find a creative way to try again or just go around it.

At the beginning of this article we identified a few traits that are common among successful entrepreneurs. You should be able to look ahead and see yourself where you want to be. Now just maintain a strong belief in yourself and your skills, stick with it, and don’t give up. If you can do that, you’re already half way there!

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Ebook Entrepreneurship

Being an ebook entrepreneur is no easy feat. It will require long hours of research and writing, web design and gaining a little knowledge about ecommerce. However, the payoff could be huge. And unlike many other home based businesses you won’t be limited to your region. The beauty about ebooks is that you can publish them and then distribute them throughout the world. You could get orders from Indonesia, Canada, USA, France and so on. This global opportunity doesn’t apply to many other work at home opportunities.

Ebook Stores Don’t Open & Close

Another defining feature of Ebook Entrepreneurs is that they don’t have the regular 9-5 hours of operation. You will sell ebooks while you’re awake and while you sleep. Not bad huh? Most of the work that goes along with setting up an Ebook business is done in the beginning stages. This industry is front heavy, but after you set up your infrastructure you can continue to sell with very little daily maintenance.

Not Just For Authors

Likewise, ebook authorship is not just for authors. Anyone who has an interest in anything could write about their interest and convert in into an ebook. Some of the best ebooks are actually from unknown authors and some of the highest selling ebooks have been written by unknown authors who have a knack for online promotion.

If nothing else, Ebook publishing it is something worth consideration. Ebooks may not replace traditional paperback books, but they certainly are gaining popularity at a rate that should make all authors stop to think about how they could use ebooks to their advantage.

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If you are pitching investors to give you money for a new venture, you should subscribe to the following rules:

1. Explain exactly what your business is within the first thirty seconds. Many entrepreneurs waste valuable time giving loads of data, background and other info—all the while investors are left scratching their heads thinking “What does this business actually DO?”

2. Tell your audience who your customers will be. Paint a vivid, specific picture of these people.

3. Explain why your customers going to give you there hard-earned money.

4. Explain who your competitors are. (And if you say you have no competitors, that is a certain sign you are unsophisticated and deserve no investment money!)

5. Explain why you are the ONE to make this happen.

6. Give your presentation with confidence and enthusiasm. Investors want a founder/CEO to be a chief salesperson; they want to see that you can convince the world of your dream—not just them.

7. Explain what star you can hitch a ride to. Has Best Buy or Radio Shack agreed to distribute your new product? Investors feel much more comfortable knowing you have an established player willing to distribute your wares.

8. Ask for a specific amount of money. If all you do is ask for money, then you can’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.

9. Tell prospects exactly what you are going to spend the money on (hint:a trip to Maui for you and your friends will not impress)

10. Dress well, act confident, and put on the air that you don’t really need their money, but would be willing to accept it if they bring enough to the table to be a strategic partner for you. Sad but true regarding human nature, but people are much more likely to give you money if they feel you don’t really need it.

Finally, make each pitch presentation serve as a focus group for your next presentation. When one group of investors asks you a series of questions after you pitch, write down all of those questions and make sure most of them are answered in your next pitch so that the next group doesn’t have to ask them. Keep pitching and keep improving your pitch and eventually you may get funded.

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