The world is never protected against financial meltdown and the most recent one that occurred between 2005 and 2015 has shown us that we need to create alternative sources of income as there is a growing trend across the world , of people losing jobs. Here are some of the most important reasons you should quit your job and start your own business in 2016, or perhaps stick with your job and create a second stream of income.

 

#1 : Modern technology is taking over paper works

Many office cubicles are becoming empty and the middle class is being wiped out because advancements in technology is taking over most paper works. The demand for more output has forced many organizations to adopt more efficient technology that can provide higher output for higher profits. This is the main reason you should quit your job and start your business this year.

#2: Money is not always happiness

Studies have shown that increase in salaries create little or no improvement in personal happiness. The reason is simple, the more you make the more you spend. You don’t have to stay in your job  just for salary increase all the time, when you can make more and even save more on your own business.

#3: You need extra source of income

Even if you don’t want to quit your job, chances are that taxes and rising costs of living are not helping you to save money. One job is just one source of income, but starting your own job will give you the financial freedom you deserve.

#4: You hardly have time for yourself, family and friends

Many people force themselves to wake up in the morning and go to their regular 9 to 5 jobs because they don’t have any alternative. Most people are just too tired to visit friends and family members after a hectic work week. If you want more time, you need to have a job you are in complete control over.

#5: You may lose your job at any time

The harsh reality of going to work every day is that you may get used and dumped sooner than you think. If you don’t have a backup business, you may lose everything you have worked for, over the years.

#6: your business provides more flexibility

When you are in charge of your own business, you decide when to wake up and when to relax. You also decide how much you want to make constantly, your regular 9-5 job does not provide such benefits.

#7: No terrible bosses who make life miserable for staffs

Bosses don’t like junior staffs, they make life miserable for them by giving them too much work to handle at a time. This can trigger stressful conditions that may cause decline in your health. If you don’t want this kind of situation for the rest of life, you better start thinking of starting your own business.

#8: Build a massive wealth rapidly with your own business

When you build your business and watch it grow over the years, you expand your network and when the quality of your products and services are good, people will hire you . This will help you build massive wealth over the years.

#9: Leave a legacy with your own business

Your regular 9 to 5 gives you a little chance to leave a strong legacy but your children and grandchildren can inherit your business and that is a great legacy you will always be remembered for.

#10: You have many business options to choose from outside of your regular job

Whether your business is online based or not, there are demands for many services and products and you need to choose the one that you are really good with.

 

As an entrepreneur, certain toxic behaviours will not only harm your goals and objectives, they can drive committed business partners and clients away quickly. Here are some of the most toxic behaviours you must get rid if you want to become a successful entrepreneur.

#1: Taking criticism too personal

Many entrepreneurs often believe that negative things said to them by their clients are direct assault on them. The fact is that what people say to you is mostly about them and not you, therefore you must learn to take criticisms constructively. Take feedbacks constructively and work on them, in order to retain your clients’ loyalty and trust.

#2: Not taking criticism seriously

Oftentimes, young entrepreneurs take feedbacks or criticism with levity and that may cause them to lose clients gradually which in turn means losing income. When you don’t take feedbacks serious, you will not be referred by your immediate clients for future jobs.

#3: Not keeping up with deadlines

Though, missing deadlines occasionally, especially on completion of tasks may be tolerated by clients but when it becomes habitual, your clients will eventually lose interest in doing business with you, and this may cause you to lose jobs, referrals and income. It is very important that you give your clients reasonable deadlines when you can meet up with tasks completion, instead of trying to make excuses and fooling them.

#4: Cheating and cutting corners often

Just because you want to make more profit does not mean you have to cheat your customers often. When your customers discover that the quantities and qualities of your products and services are suddenly deteriorating, they will move somewhere else to do business, this will lead to loss of income and potential future clients. Always stay truthful to your clients no matter what.

#5: Bad customer services

Not responding to enquiries and complaints can be highly toxic to your business. Some customers get angry easily and they want your response and reassurances immediately, therefore, you must be ready to answer their queries at all times to avoid long term conflicts.

#6: lack of self-control

Though, self-control should be a personal issue but many potential clients do not see it in that way. It is easier to trust and do business with an entrepreneur who does not indulge in negative social practices that one who is involved in much anti-social behaviour. For instance, your clients don’t want to see you get drunk or involved in many fights socially. If you want to attract more clients and grow your network, you must learn the act of business etiquette and improve your self-control.

#7 improper communication skills

Small issues such as ability to remain names and addresses of clients can help you build trust and confidence in them but lack of adequate communication skills may mean that you are unserious and not ready to listen to their plights. Try as much as possible to return their phone calls, emails and other contact media if you want them to take you serious.

 

 

Successful entrepreneurs don’t just become successful overnight, they have stuck to some daily positive habits that has helped them to survive the difficult times to achieve great success. Here are the 10 most prominent habits of successful entrepreneurs;

#1: They establish a routine

If you don’t stick to a schedule it is very difficult to achieve anything. Successful entrepreneurs have a work habit and a list of tasks they complete every day , in order to sustain their businesses. Establishing a routine as an entrepreneur will help you prioritize your daily tasks.

#2: They spend quality time to relax

Not relaxing and replenishing your energy levels will cause you to wear out quickly, and this may also limit your productivity as an entrepreneur. Successful entrepreneurs know when to take a break and they enjoy some quality time to sleep and be with their friends and family.

#3: They take calculative risks

Calculative risks are different from any other kind of risks in the sense that , an entrepreneur takes a gamble but knows that such risks or gamble will not become extremely devastating. A calculative risk is based on business principles , therefore the chances of achieving positive results are high. The most successful entrepreneurs today took calculative risks years back and they are reaping the rewards today.

#4 They are disciplined

Nothing is achieve in the world today without rules. Successful entrepreneurs have set rules for themselves and their businesses, they don’t just take irrational behaviours, and they weigh their options based on principles and rules.

#5: They are innovative

Successful entrepreneurs do have goals and objectives they hope to achieve , they are able to survive challenges because they are proactive thinkers. They always search for new , easier and more financially-rewarding ways of doing things, they don’t just stick with one winning formula.

#6 They are proactive and not reactive

Most entrepreneurs are not successful today , not because they don’t plan or strategize, but because they are reactive in nature- this means they with for a situation to occur before taking actions. The chances of taking irrational and negative decisions under duress, are high. When you are proactive, you stay ahead of a situation and you will be prepared for any eventuality.

#7: They are consistent

Consistency is the number one mean to achieve success. If you are not consistent as an entrepreneur, you will give up easily on your dreams when faced with temporary challenges. The most successful entrepreneurs in the world today have the strong will and attitude to achieve success even when things are not going their way.

#8: They give back to the society

Giving back to the society is a business strategy especially when  utilized effectively giving back to the society helps in winning the trust and confidence of people and that will help boost the popularity of your brand.

#9: They have good communication skills

Successful entrepreneurs always find a way to remember the names and profession of their clients and potential clients. When you remember the names of your potential clients, they think you have them in mind and you are really concerned about their progress. This will assure them that they are in safe hands.

#10: They put their clients first

Most entrepreneurs want to make as much money as they can within the shortest period of time , this mentality may backfire, when quality of products and services rendered become poor and clients don’t get what they were hoping to get.

 

Everyone wants to create wealth and sustain it for as long as they wish, but In order to create something out of nothing, there are some pointers you need to keep in mind.  Here are some ways to go by it;

#1: Resell something

You don’t have the capital to start a business but there are a handful of things you can re-sell , if you look around very well. Reselling products that has already been made has become one of the growing and successful business habits in the world today. Think about some channels such as Drop shipping, Thrift stores, and garage sales, as your potential avenues to sell your products. Drop shipping is a reselling avenue where someone else can help you drop the product at a very reduce rate. Garage sales, antique shops and flea markets also offer a huge avenue to resell something and grow your business from there.

#2: Trade batter to get what you need

It can be extremely hard to start a business without any capital fund, even if you want to start a freelance writing business, you still have to pay for internet and or pay for web hosting if you are starting a blog or website. One way of getting supplies for your startup business is by trading what you have with what you don’t have.

#3: Choose a niche you are versatile in

You need to identify a niche for yourself, if you want a business you can start from zero. Many services or business such as dog walking and baby-sitting may not require capital set up but you need to convince potential clients that you are capable of taking care of their pets or kids. You need to ensure that you understand all it takes to be successful in your chosen business, and make sure you have any necessary license or certification, if necessary.

#4: Utilize the low cost advertisement services

Certain business advertising services cost around 5$ just to launch your business online. Websites such as Fiverr and Elance, for example will cost you that little just to put your products and services on the internet and start receiving customers immediately. You may also watch out for some coupon codes at special websites such as Retailmenot.com, if you want to save even more on selling items such as clothes and accessories.

#5: approach a friend or family

Assuming you still don’t have sufficient capital to start your business, you can solicit the help of a family member or friend for a small loan. Banks and some other financial lenders rarely offer individuals with no collateral, any form of business loans, and the interests payable on a bank loan can be too much for you. Chances are that you will find a family member ready to sponsor your business plan , especially if you have a strong business proposal.

Starting a business out of nothing is possible , if you follow the right channel, and you have a plan to execute alongside your main goals and objectives.

 

Task prioritization is a necessary habit for entrepreneurs who aspire to be achieve their goals and objectives.   Task prioritization helps us manage our time more effectively. Most entrepreneurs often become confused when prioritizing , especially when it comes to “importance” and “urgency” of tasks. One rule of task prioritization is that you must prioritize urgent tasks ahead of important tasks, and at the same time, you need to dedicate your time to urgent and important tasks on daily basis. You need to rank your tasks according to their degree or urgency and importance, then allocate time to each tasks accordingly.

Task prioritization offers the following benefits;

#1 It reduces stress and increase productivity

Knowing that you don’t have to finish all tasks at once, or in a single day will give you a more flexible time to focus on the most important things first. If you don’t prioritize, you end up trying to handle too many tasks at the same time and that may result in failure and low productivity. When you achieve your tasks steadily and slowly, you end up getting positive results .

#2: It helps you create room to check your errors

When you don’t prioritize your work, you hardly have time to check for errors and that means  you will have little or no time to edit your works. When you don’t have time to check for errors, you spend extra time later when you don’t achieve the results you hope for. Task prioritization ensures that you allocate sufficient time to complete tasks and also make necessary changes in order to save time and become more productive.

#3: It gives you more time to relax

When you complete your scheduled tasks ahead of the time allocated, you have sufficient time to relax and recharge your body for future tasks. You may even allocate breaks in-between your tasks . Completing tasks on scheduled time will definitely allow you ample opportunity to check your friends and family or even indulge in your favourite TV shows and hobbies.

#4: It helps you avoid procrastination

Procrastination is the number one hindrance to productivity. It is an habit that forces you to re-schedule tasks until the final hour when it becomes very difficult to complete such tasks. If you want to become a successful entrepreneur, procrastination is one habit you need to deal with, because it forces you to waste your time and become lazy. Task prioritization helps you allocate task completion deadlines for yourself.

#5: It keeps you motivated

When you prioritize your tasks and see positive results, you will become motivated to handle even more tasks because the positive feedback you receive will motivate you. Staffs who have learnt to prioritize their tasks often end up getting promoted than those who are in the habit of procrastination. As an entrepreneur, it is quite easy to give up on your dreams and aspirations when you are not getting results,  but when you achieve little successes, you become motivated to achieve even more.