Part-Time Entrepreneur? - Can this work?

Let me ask you a question first. Are you satisfied with your current position? Do you cite several reasons to others and yourself for not realizing your goals? Do you think that success stories only look good in print and they are the exceptions who got lucky or who had backgrounds helping them to succeed?

It would seem very rude of me but I also know that somewhere down in your heart, you know that what I am going to say is true. All these are excuses that are made by people who lack the courage to realize their dreams. These are excuses that people lacking courage to try something new, make for themselves. Talk of job security is a thing of the past. And realizing dreams is no longer an option. It is a necessity in this age!

After all, Michael Dell of Dell Computers fame started his company from his hostel with a capital of $1000 and went on to create a net worth of $20 billion before he reached the age of 40. And if you think it is just a U.S. story, well think about India. Yes, Kiran Mazumdar Shaw who is the richest woman in India started her company Biocon in her garage with little less than $4000. As of now, the total market cap of Biocon is $1.2 billion.

Let’s come to the topic now. We are talking about entrepreneurship. And if the term overwhelms you, let us modify it to part time entrepreneurship. You have a job, you need to pay bills and you have other liabilities. Well, no problem? You carry on with your day job and turn an entrepreneur at night. The income that you get from your part time business would help pay bills and other expenses.

What is more, you would also have the satisfaction of being your own boss and working to realize your dreams. There are many examples besides the examples I mentioned above, that clearly shows that when your business is in growing phase, you could always work on it as a part time entrepreneur. And with time you can turn that part time business into a full time business. The best thing is the number of avenues open to you. Yes, many!

Right from MLM (Multi-Level Marketing) to Internet Marketing to Freelancing to Home Business, have your pick. It is the best for house wives who are house wives full time. They could easily have their part time business running from their homes itself. After all full time house wives also have some spare time that they could utilize well.

Recently I have been involved in Internet Marketing. Internet Marketing or Netpreneurs have the privilege of doing their stuff anytime anywhere and great for people who travel a lot. This is especially true with Mr Ewen Chia, one of internet marketing most recognized figure. I recently attended his workshop called Affiliate Windfall Workshop (see picture)

He told everyone that he start Internet Marketing 8 years ago and didn’t make money till after 3 years. During the first few years of building up his part-time Internet Business, he was holding a day job! He told me, ‘Don’t quit your day job. If you do, you have more stress and you wouldn’t be creative if you are always stressed. It is good to have that day job to pay you bills while you do your night-job to build your dream and your future.” After all, doing part-time post graduate degree courses these days are quite common in Singapore. Doesn't it require that same amount of dedication like you are doing your own part-time business?

There are many examples of young men that I met who are successful with what they are doing part-time before they went full-time. Read my next post Alvin Phang – The Profitable Blogger.

Part Time and Full Time Entrepreneurs

Who doesn’t want to be the boss of his own company? But very few realize this dream. What is the reason behind it? Fear of failure is one of the biggest factors that don't allow a person to turn entrepreneur. After all, we all have families to support, liabilities to shoulder and one misstep could result in problems created for them. And who wants to lead one’s family into trouble?

But despite all this, don't you ever feel that you should start a business venture of your own without actually quitting your job. Your job provides you and your family security and safety but there is something that your heart wants and that could only be provided if you turn an entrepreneur. Job satisfaction is something that few care about but few could actually ignore its impact.

So, what needs to be done? What should be the course of action for you when you know you can't possibly quit the job? Well, the answer is straight forward. You can easily take the route of part time business. But let me tell you one thing. The word “easily” is just not suited for this scenario. Taking this decision could be a little bit easier than actual implementation of this idea. If you are really committed to turning a part time entrepreneur, then only you should venture into the field of part time entrepreneurship.

Well, you would have to spend more of your time working. You would have your regular job and you would also have your part time business to take care of. That is really time-taking. I remember I did my MBA part-time while I was keeping a demanding day-job. I still make it. Isn't this the same? Yes, we can multi-task.

Before you opt for part time entrepreneurship, I would like to give you a few suggestions. Hope it proves helpful.

The very first thing I would like to emphasize on would surely be your family. Always keep your family up dated about what you want to do. It is true that when your part time business becomes successful, you might think of quitting your regular job but until then you would be a lot busier and your family would have to support you in that period. You would have to convince them that it is for the good of all.

Always have a professional outlook with your part time business. Part time or full time, a business is always a business. So, even if you are conducting your part time business from home, you need to have a room that should be exclusive for your business activities. You would do well to have a separate phone and fax line for your business. The same goes with business license also.

If you plant a tree, do you get the fruit the same day? No, it takes time to bear fruit. Well, it is the same with part time business also. Be PATIENT. Be very realistic about your part time business. Any new business takes time to start running and it would be the same with yours also. Show patience during this initial transition phase.

Read also Part-Time Entrepreneur? - Can This Work?

ROBERT KIYOSAKI’S TAKE ON ENTREPRENEURSHIP

If you think that you don't need to know what Robert Kiyosaki (and who is he by the way) thinks about entrepreneurship, well I would say that you need to first ask who Robert Kiyosaki actually is. Have you heard people talking about the book Rich Dad Poor Dad, which is coincidently the longest running best seller on the New York Times, Wall Street Journal, USA Today and Business Week? If the answer is yes, let me tell you that Robert Kiyosaki is the author of this best seller Rich Dad Poor Dad.

I sincerely hope that you would now be more interested in finding out Robert Kiyosaki’s take on entrepreneurship. After all he has been instrumental in initiating thousands of people into being entrepreneurs. The next question could be the reason for turning entrepreneur. You have a very good job, you are earning good money and your life is secure and stable. What more could you want? There is something which is called ambition and there is something which is called realizing your full potential. Don't you think if you are good enough to be valuable for your employer, won't you be good enough for yourself?

The basic difference between an entrepreneur and an employee according to Robert Kiyosaki is the mental set up. Employees as per Robert Kiyosaki are more concerned about resources while entrepreneurs are more concerned about opportunities. Let me ask you a question. Suppose you find a very good piece of real estate, what would be your reaction to it? Would you leave it just because you don't have the cash for it or would you tie up the property first and look for money later? Believe me the answer is very important and very pertinent to our current discussion.

The answer shows your mindset. If you have always been claiming that you want to start a business but lack the capital to start one, Robert Kiyosaki would term your mentality resource oriented which is typical of employees. If you believe in starting a business and letting it finance through the cash flow, you are more of opportunity oriented mindset. The basic difference between an employee and an entrepreneur is their respective outlook. One looks at the lack of resources while the other looks at the presence of opportunity. It is all about making use of the right opportunities that come your way in the words of Robert Kiyosaki. “Never claim that you can't afford something. Always ask how you can afford it. Let your mind think and not let it shut down.” This is perhaps one of the best mantras that came out from Robert Kiyosaki.

The next point to focus on would be the way to manage the human resources at hand. Robert Kiyosaki claims that employees like to manage through hierarchical structures while entrepreneurs make use of networks and in doing so they make use of the resources of other people and organizations. So, it all boils down to leveraging the assets and resources of your partners. But always keep in mind that you should be very careful when choosing your partners. Take the advice of an expert, Robert Kiyosaki and understand that choosing the right partner is perhaps the difference between success and failure most of the times.

Robert Kiyosaki and Donald Trump

Robert Kiyosaki and Donald Trump speak are interviewed regarding a new book they co-authored "Why We Want You to Be Rich".

ARE YOU A NETPRENEUR?

Who is a netprenuer? Actually the word netpreneur brings images to mind of a young geek. A person in his early twenties who has the courage to break the conventional rules to build up an online business from scratch is our netpreneur. There was a time when netpreneurs were thought to be some kind of mythical creatures. They came from nowhere and made millions in the market. And that image is still itched out into the minds of many but to be honest these are just images. The reality is very different.

The majority of netpreneur are still young but they are not some kind of eccentric genius. Anyone can be a netprenuer these days. That is the result of easy access to internet and the desire of people to take some risk and start their own online business venture. Netpreneurs are like any other entrepreneurs. The only difference is that netpreneur as the name suggests is a special class of entrepreneur who has some special technical skills that could be used to earn money online. Actually all the qualities that are needed to be an entrepreneur is also necessary for being a netpreneur and what is more, a netpreneur should have an added skill related to running an online business.

The best thing about a netpreneur is that you don’t need to be some super geek where computer software is concerned. Anyone who wants to earn some money online could be a netpreneur. The only thing needed is your determination to do something worthwhile. If you are currently employed somewhere you can go on with your job and also start a new online business venture in part time. This way the risks associated with starting ones own business venture gets mitigated a lot.

There are many aspects of netpreneurship. It all depends on your skill set. If you are skilled technically, you can offer such services to your clients. If you don’t have such technical skills, you can try to sell products online. For that you don’t need much technical know-how. What is more, even if you think don’t have products to sell; there is nothing to be disappointed about. There are a number of affiliate programs on the net that allow you to sell their products on a commission. There is also an option of auction sites on the internet like eBay. You can sell and purchase products from such online auction sites. The trick is in finding products at cheaper rates and selling it at higher rates.

As this discussion shows, it is just about your skill set that matters. The avenues for a netpreneur are many. It is for you to decide which one suits you the best. What you should always remember is that just because a business is online it doesn't mean it doesn't follow the rules of business. You have to run it as any other business and act as any other successful entrepreneurs do.

So, before you take the plunge ask yourself what is it that you are good at? And when you find the answer you should plan your business venture accordingly. The world of internet is full of information about online ventures and netpreneurship. You need a little bit of research to come out with the exact business plan that could catapult you to success.

DO YOU WANT TO BE A MINIPRENEUR?

Most of us find ourselves trapped in nine to five jobs and even though the desire to do something worthwhile exists but job security and several other such considerations stop us from taking the one step that could change our future forever. And that makes me come to the topic of minipreneur. Who is a minipreneur?

Well minipreneur is our entrepreneur but with a little difference. If you find that you are not in a position to leave your job, you can start some work in your part time without actually quitting your job. And that would make you a minipreneur. Minipreneur is anyone who starts with a small idea but with a vision that could take him to the highest platform of success.

The best thing about minipreneur is that you don’t exactly need to spend all your time at it, in the beginning. After all, you must have liabilities with you and you could not risk it all. So, the best course of action would be to initiate some business in your part time and continue with your job. And the moment you feel your part time business has grown enough to occupy you full time, you can quit your job and start concentrating fully on your business.

And if you are still skeptic about what I am telling you, why not have a look at some statistics that voice the same opinion that minipreneurship is in.

1) Surveys reveal that over seven hundred and fifty thousand American Citizens are getting their primary and secondary source of income from eBay. And what is more over one and a half million persons claim that they augment their income by selling on eBay.

2) About fifty thousand people in the United Kingdom draw a large portion of their income by selling goods online.

3) There are over five million "Web Driven Entrepreneurs" that we call netpreneurs, in the United States. This accounts for about twenty five percent of all small businesses.

Now the next pertinent question must be about the cause of this boom in their numbers.

1) The revolutionary penetration of internet into our households have made ordinary people like you and me realize that money could also be made by engaging in a bit of manufacturing, enterprising, venturing, selling, trading, and auctioning. The opportunities are infinite on the net. The only thing needed is your sincere effort.

2) Being a minipreneur gives you control, independence, and charge of your destiny and that is what all of us want. Who doesn’t want to be one's own boss and earn money too?

3) And one of the most motivating factors is that minipreneurship is in. It's the new rage in the world of internet. And it doesn’t matter how small you have started. You can think big and you can achieve big. You can achieve big by starting small. Be a Minipreneur.

4) Another reason is the risk involved. Yes, the risk involved is very less as compared to slugging it out at some other job. What you must understand is that you need to provide customers with more choice and more variety. You need to find products or services that are different or that are special or that are vintage or customized or something that no big corporation could develop because of profitability concerns. One such product and you have made it!

It is true that talking about minipreneur is really simple but the real work needs to be done to achieve success. And that would involve determination, hard work and out of the box thinking. Once you do that, well you are on your way!

WHO IS A TECHNOPRENEUR AND A MINIPRENEUR?

Most of us have heard of the word entrepreneur and the meaning that single word conveys. Yes, an entrepreneur is the one who is willing to own and operate and take the risk of operating any business. He is the one who manages all the factors of production to carry on with production. But with time, the purview of the word entrepreneur changed dramatically and it became a comprehensive word signifying a lot of different aspects of business.

Two major extensions of entrepreneurship that has resulted due to the changes in the markets are Technopreneurship and Minipreneurship. The words are self explanatory but let's try to have a look at these words in more detail and try to understand the basic essence of these words. Who exactly is a technopreneur? Well, he could be understood as a new age entrepreneur who makes use of technology to come out with something new or to make some innovation. And once he is successful in it, he exploits his achievement in the market to make money.

What differentiates a technopreneur from any other businessman is the way a technopreneur operates his business. His business is generally marked with a high growth potential and high leverage of knowledge and intellectual property. What is more, he always has a viable exit mechanism.

Then we can have a classic entrepreneur. He is the one who starts his own business. Or you can have a multipreneur who starts a number of companies as per his potential. But the maximum number of entrepreneurs falls in the category of intrapreneur. These are the ones who use their creativity, their knowledge, and their drive in a large corporation. And yes, how can we leave aside a minipreneur. Yes, he is the one who doesn’t possess huge capital base to start a large business but is the one who starts a new venture with this limited capital and with the help of that small capital base expands his business to great heights.

If you are thinking of starting a new business venture of your own, you should asses yourself very objectively if you are game for it. For example, if you are thinking to be a technopreneur, you need to have some personal traits that include being ambitious, independent thinking, passionate about your work, self confidence to take bold decisions, commitment to your job, creativity in good doses, having risk taking abilities, and having a vision for future.

So, if you want to be a technopreneur, start with assessing yourself, if you are really for it. And be very honest about it. You can't cheat yourself. What are your interests? Are you really interested in being a technopreneur or are you joining the bandwagon? Do you have the aptitude to be a technopreneur? What are the relative advantages and the disadvantages of being a technopreneur?

You must be very sure of what you want. Another option could be of being a miniprenuer. The best thing about it is that you can continue in your present job and pursue your business in part time. And when you think that you are ready to pursue it full time you should leave your job and do it full time. It all depends on your personal choice and personal willingness.

Why Do You Want To Be An Entrepreneur?

Most of the discussions start with the question, "How can you be an entrepreneur?" and "What should be done to be a successful entrepreneur?" but the first question that must be dealt with is "Why do you want to be an entrepreneur?" Do you really want to be an entrepreneur? This is the first question that must be asked by anyone and everyone before thinking of starting any business venture? This is the moot question. And yes, first of all you would have to understand who is an entrepreneur? What is entrepreneurship per se?

The word entrepreneur comes from Latin. Entre-enter; pre-before; neur-nerve center. Taking its derivation we could understand entrepreneur as someone who enters the nerve center of a business that no one entered before and then makes changes to it that results in a paradigm shift in the whole process. An entrepreneur is the one who is willing to take risk in any business endeavor. Entrepreneurship is the art of finding an opportunity and then pursuing it to success. As a saying goes "brilliant people also see the same things that others do but they observe things that others don’t." It is the same with entrepreneurs also. They come out with ideas that others don’t think about and that is why they become successful.

Another term which has found a lot of popularity in recent time is a technopreneur. Well, a technopreneur could be understood as an entrepreneur in a business related to technology. It is generally seen that a technopreneur generally has some kind of proprietary and patentable intellectual property rights that he commercializes and reaps benefits out of it. Technopreneurship is a term which is generally used for software companies.

Now let's talk about our earlier question. Why entrepreneurship? Why are you thinking of being an entrepreneur? Do you really want to be an entrepreneur or is there some kind of compulsion to be an entrepreneur? Is it because you don’t have any job or you currently find yourself out of job? There are many who get into the field because that is what his father and forefathers have been doing. Well, after all, it is their family business. And there is another category that interests me the most. It is the one where people claim that they want to be entrepreneurs for the very simple reason that they want to be entrepreneurs. Entrepreneurship is in their blood.

It is for you to ask yourself. Why do you want to be an entrepreneur? I would like to tell you one thing. Entrepreneurship can really prove very rewarding but and this is a very big but, it is very risky and not easy. Until and unless you are ready to slug it out till the end, the chances of success are very limited. If you are fed up with you daily office routine and want to try your hands in entrepreneurship, let me tell you that the time you would have to spend for your own company would be far more. The effort that you would have to make would be far greater than what you have been making. There has never been any short cut to success and there would never be any. But yes, when you really become successful, the rewards compensate for everything.

The avenues open are many but you would have to make appropriate choices. The present time offers you opportunities where you can earn money and make a mark for yourself without actually investing too much of capital. Yes, we are in the age of "MiniPreneurs" where anyone and everyone can start a business of their own.

If you want to read more, wait for the next article on MiniPreneurs . We would also be discussing on NetPreneurs.

Singapore Entrepreneurs - Entrepreneurship in Singapore

Today, I just bump into a website that is dedicated to Entrepreneurship development in Singapore. Very nice ..clink the URL to have a look http://sgentrepreneurs.com/

Are You Ready to be an Entrepreneur?

If you're thinking of going into business for yourself, it may be comforting to find out if you have the traits and characteristics typical of entrepreneurs. Take a FREE TEST. Take this 26 questions quiz to find out. Click here.

If you have tested and the answer is positive, your next step is to not to know what you want to do, but to know who you are, develop a vision - and this is the hardest part. One of the way is to find out what Wealth Dynamics Profile do you belong to. What is Wealth Dynamics Profile? Find out more by clicking this.

Other reference in this blog :
http://entrepreneur-2b.blogspot.com/2006/12/aptitude-test-for-budding-entrepreneurs.html

Aptitude Test for Budding Entrepreneurs

According to JOSEPH R. MANCUSO, founder and president of the Chief Executive Officers' Club Inc.,(a New York-based not-for-profit educational association of CEOs and entrepreneurs), many people like to think of themselves as entrepreneurs. They may not have actually started a business at some point in their lives, but they believe they could under the right conditions. Chances are they're fooling themselves.
Entrepreneurs are a special breed. It takes a certain blend of determination, persistence and guts to turn a business dream into a going venture. There are thousands of accountants, clerks, plumbers, lawyers and managers who tried to launch a business and failed. Yet some do succeed.
Take the following quiz and review your answers using the provided analysis
Click here to take a Aptitude Test.

If you have tested and the answer is positive, your next step is to not to know what you want to do, but to know who you are, develop a vision - and this is the hardest part. One of the way is to find out what Wealth Dynamics Profile do you belong to. What is Wealth Dynamics Profile? Find out more by clicking this.