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  How do some entrepreneurs overcome obstacles, maintain intense focus, exemplify ironclad discipline and create companies out of thin air? Genius? Luck? Some secret sauce of success? Much of the answer lies in motivation. How do we define that?  Psychology Today   defines motivation as “the desire to do things.” An even more detailed definition explains that motivation is “the process that initiates, guides and maintains goal-oriented behaviors.” When you see a rising entrepreneur star, what you’re watching is an incredible amount of motivation -- of goal-oriented behavior. Motivation is like jet power propulsion. It transforms individuals from passive participants into active leaders, maybe because they know what's in the secret sauce." Here are seven of those ingredients of motivation that the most successful entrepreneurs know. 1. They know what they are meant to do in life. The motivation literat...

  If you're thinking of starting a side business, it's your duty to make sure you'll be legally in the clear. Depending upon your employer's point of view and the contracts you signed when you started your job, operating a side business is often deemed gray area at best. Playing it safe all starts with making it abundantly clear that your  side business idea  isn't a conflict of interest or competitor to the company you work at. You'll need to carefully navigate your employment contracts, decide if you should tell your boss about your side business, and much more. Here are my ten steps to avoid getting fired while starting a side business. 1. Know your company policy. Many companies have formal policies about employees operating a side business. If you didn't ask, or weren't briefed on this during your interview and onboarding process, then it's worth giving all of your employment contracts a thorough read. ...

Being an entrepreneur is synonymous with being financially unstable at times. While you’re growing your company, it’s important to be focused. But what if you could get a side hustle that would help bring in a healthy secondary income to alleviate some of that financial stress? And, best case, what if this side hustle could also help you grow your core business? The good news is that there are a lot of companies that create opportunities for entrepreneurs that don’t require full-time work and can become a great companion to the work you’re doing. Better yet, they take out the hassle of having to create a second company to supplement your income because they do the legwork and allow you to plug in your skills and time. Here are nine examples of opportunities that might be the perfect side hustle for you as you continue to grow your company! 1. Invest in real estate. There are a lot of methods for making money in real estate, many of which don’t require your full...

  When we first start out in business, we need money, right? Rarely does a new business or 9-to-5 job provide enough of it. One way to make more money is through a side business . Side gigs offer us another way, not as intense as full-blown entrepreneurship, but a way to earn money and have some fun along the way. With side hustles, we can turn the entrepreneurial quest from a constant grind into an outlet for our true selves. Not only do we improve our financial security, but we often discover we are happier and more satisfied because of our side-business ventures. With that in mind, here are five reasons why every entrepreneur should start a side business. 1. You can test new ideas. You’ve heard it before: Most startups in America fail. In fact, 80 to 90 percent of small businesses never make it past their second year in business. There’s a silver lining, though. The small business failure rate is declining . New technology is mak...

  Blogging the right way can make or break a new business. A powerful blog positions you as an authority and brings in new customers. But effective business blogging takes work. Lose focus, and you’ll waste years on blogging with nothing to show for it. To get started with blogging, here are my top 17 tips for creating content. I’ve organized them into six major categories. One: Systematize your content creation. Two: Use outlines. Three: Write compelling content. Four: Know your audience. Five: Make your blog a must-read. Six: Spread your ideas. 1. Systematize your content creation. Be consistent.  To build and keep an audience, you need to set expectations around the quantity and frequency of articles.  Commit to a publishing schedule . Plan it so that it works for you and for your readers. Seth Godin blogs daily. But not everyone is Seth Grodin. Don’t overstretch yourself. A Moz study found that daily blogging had little...

  Is it your dream to build a company and change the world? Or, perhaps, you just want to own a business that gives you the freedom to live on your own terms. Either way, you have big ambitions for your company. So, why bother thinking about an exit? Surely, the ups and downs of building your business are so thrilling in and of themselves that leaving that business, or selling it, is the last thing on your mind.  Hold that thought. If you’re really serious about growing your business the right way, an exit is definitely something you should plan for. After all, would you go through life without planning a will? Of course not. Writing your will doesn’t mean you’re looking forward to dying; it just means you’re responsibly planning ahead. There are many reasons why you should prepare an exit strategy, but for entrepreneurs like myself, it’s pretty simple: I love the thrill of starting a new business, but I’m not as keen about the managem...

  That daytime job of yours may be terrific. But there’s one thing that is far more rewarding and meaningful than good pay and benefits: being your own boss. Still, think carefully before choosing to go down the entrepreneurial path; it carries a lot more risk than punching in for your daily 9-to-5, and it requires a lot more sacrifice and hard work. However, once you’re finally reaping the benefits of owning your own business and hustling your way to more money, the sweat and tears you invested will have all been worth it. Nor do you have to quit your day job in order to get started: five o’clock may mean happy hour or video games for some, but for a growing number of professionals, it means shutting down the computer at the office and firing up that business at home. So, if you're game, you next have to select what kind of business you want to start. Which type is right for you? Here are 10 great ideas you can build from: 1. Think 'food f...

  In today's world, it's more common than ever for people to make fast career changes. You may not be looking to make any changes today, but at some point, you’re going to want to start a new venture. Whether you’re thinking about resigning or planning to sell your business, taking the first steps is the hardest part of your exit strategy . So, before making any rash decisions, you should have a plan in place for transitioning into a new role. Here are three things you can do before leaving a job. 1. Evaluate the risk and opportunities. There are a variety of reasons for leaving a job or selling a business. You might have other opportunities waiting on the horizon that you're eager to pursue. Or possibly you're tired of your current role. Maybe you're looking for a change of pace. As you begin to consider your options, make sure to evaluate both the risks and opportunities. Don't forget that work is work , no matter what role you'r...

Entrepreneurs sometimes do stupid things. We can’t help it. That’s part of the reason that an entrepreneur is an entrepreneur. She is not afraid to make mistakes, take risks and maybe to look like a fool. But sometimes those same tendencies backfire. I’ve noticed some of the things that tend to derail other entrepreneurs. When they face the issues I describe below, it’s a signal that they need to stop what they’re doing, evaluate their direction and take action based on what they see. Are you experiencing any of these? 1. You constantly wonder why the heck you're doing this. We all have our moments where we doubt our sanity and question our existence. You’ve probably done it -- a moment where you shake your head, snort-laugh and wonder what level of insanity has pushed you to this position. However, if these thoughts are persistent, unanswerable and maybe tinged with bitterness, it could be a sign that you’re working in the wrong business. These wor...

  Before you formed your business partnership, did you vet your partners’ marriages along with their bank statements? You may not consider it until divorce proceedings are underway, but your partners’ spouses likely own a part of your company, whether you want them to or not. In my day job as a financial strategist specializing in complicated (and often highly contentious) divorces, I rarely see a case where the day-to-day operations, valuation and ownership structure of a business is not affected in some way by a breakup. If your partner’s soon-to-be ex receives a part of the business in the divorce settlement, you’ll gain a new, unwelcome partner who now has a voice in how your business operates and, by extension, can impact your own net worth.   Michael Lees, a business attorney and partner at Solomon Ward Seidenwurm & Smith in San Diego, recommends including a contingency for divorce in your company’s setup. “Start with a well-drafted pa...

Looking for a new way to make money? Here are 20 businesses that you can start with very little money. You need motivation, a willingness to work hard and a desire to be financially successful. 1. College Application/Financial Aid Planning Consulting Business A financial aid planner helps parents get the lowest possible price for their child's college education, thus saving them money. Tapping into financial aid resources is not just about being smart. It is about being aware of the resources that are available. This business involves advising parents and high school students on selecting a college, filling out the application and financial aid forms, providing tips for writing the college essay, advising parents about tax implications on college savings plans, and negotiating the best possible financial aid package when a college offer is received. A sound knowledge about higher education institutions and a thorough understanding of financial aid options are impo...