Current state of Entrepreneurship in the World

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Public Domain from pixabay

Things are looking brighter in the startup of small businesses than before the crisis in 2008 according to a OECD Worldbank and Facebook collaboration on survey of smaill businsses.

Trend start-ups remain below pre-crisis rates in most OECD economies, although in Canada, France, the Netherlands, Norway, Sweden and the United Kingdom rates were higher at the end of 2015 and beginning of 2016 than before the crisis. Trends in the most recent periods are pointing upwards in most OECD countries, from http://www.oecd.org/std/business-stats/entrepreneurship-at-a-glance-22266941.htm

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Public Domain from pixabay

 Give the ‘lure rather than the fish itself’

Many countries are recognizing that micro businesses will be the wave of the fuure to get their society off government support. In this report on Borneo, there was successful micro-entrepreneur startups to get people off of welfare. If you give a person the lure to catch the fish is much better than  giving them the fish according to the report from

http://www.theborneopost.com/2016/10/31/micro-entrepreneurship-can-help-break-poverty-cycle/

Some new Trends in Entrepreneurship

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Public Domain from pixabay

Get into the Industry you know

Rather than trying to learn a new industry a lot of successful entrepreneur are working in industries they either were a customer or worked in local business. So, they knew what problems or challenges that industry has so they can be more proactive in solving the problems.

For example, Steve Sullivan was a ski bum who hung around on the ski slopes and then knowing the challenges of the weather and clothing he decided to work creating clothing that actually functioned in that environment.

We get to actively test the products that we are making every day. I can run out from our office and do a tram lap for lunch and check out the fit and function of a new jacket that we’re trying. . . . The culmination of that leads to better products. viaTo Increase Your Chance of Success, Get Into an Industry You Know

New type of entrepreneur

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Instead of working a 9 to 5 job 40 hour week, a lot of new entrepreneurs are doing more than one business to give them the flexibility of hours spend at work and at home.

Savvy consultants told us they value being able to make almost as much money as they did at a big firm, but doing so by working late at night so they have more time with their kids from Wanted: Creative Solutions to Shape a Workable Future

If you are thinking about starting your own business try the Be Your Own Boss  quiz.

There are 3 Billion People online-Your Tribe is out there!

multi ethnic hands reaching for globe ball

There are 3,279,088,431 people on the internet today!
Tweet: There are 3,279,088,431 people on the internet today!

Your message
Your product
Your service
Your passion will serve those who need or want you to help them solve a problem or fulfill a need.
Don’t be intimidated by the idea of reaching EVERYONE!
You aren’t in the Everyone Business , according to Darren Scott Monroe.

There are 3 Billion Online and your TRIBE, your AUDIENCE, your CUSTOMERS will find you if you message is clear and you go to where THEY are.

How do you find your Customers?

Define who your Customers are and this will tell you where they like to hangout on the Internet (or whether they don’t come onto the internet).


How to Steer your Customers towards you!

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Have you ever really listened to your customers? If you did, there might be a change in focus in the direction that your business will take.
I thought that when I started that people would want to have a way to go step by step from idea to launching and then growing your business. I know ,they need this type of guidance as being in home business, I know the challenges and stress of being your own boss.
But I have found with the years of hanging out on the internet and listening to people on Facebook and in group calls and masterminds that people want the quick solution. People want either a quick way to have a “business” or they talk about it but they aren’t willing to put the work in.
So, my focus has changed to listening to what people are saying. Then putting out an offer to them to see if they are interested. If not, then ask them more questions to see what they REALLY wanted. If they want it then create it with their participation.
No long term commitment to create the content and find out no one wants it.
Keep this in mind when you have an idea you want to create before you invest time and energy!

Check out Resources for more inspiration!

Education

Photo Source

Are you thinking that you don’t have the skills you need to do a home business?  Do you wonder how long it would take to learn the skills for a home business idea you would like to do?  Twenty years ago, you would have to consider:

  1. taking a vocational or university course at only certain times of the year
  2. the tuition costs IF you could get into the course you wanted
  3. the time off of work in order to do the course.

Now, with the internet, you have the freedom to explore different home business ideas you might be interested in.  You can change the direction of your life by getting education in a new field.  Develop your skills in a new field and see where it takes you. There are many accredited universities that have online courses for their own courses as well as developing courses for other interests.  For example, our local university has whole series of courses developed for the senior crowd to try on a part-time basis from going to Mexico and living in a town to learn Spanish or writing course hosted by well known playwright.  

Ongoing education is a critical trait for any entrepreneur and I’ ll be speaking further about places and resources to learn the skills and knowledge for an entrepreneur.  To learn more about how to develop the skills of an entrepreneur, subscribe to our newsletter! 

Is it possible to have a craft business?

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For those who are love audio, I have the audio recording of the post below:  :)
[s3audio url=”http://jgardner.wpengine.com/wp-content/uploads/2014/04/Untitled.mp3″ /]
Can I make a living with a craft business?  Is it just a hobby or can I make it into a business I can do from home?  I love to do my crafts but can I make a living with it as the business? According to the Craft and Hobby Association press release in 2011, that 56% of U.S households crafted at least once during 2010 contributing to the 29.2 billion U.S. craft and hobby industry.  There are people out there doing crafts and selling their crafts. According to the U.S. Bureau of Labor Statistics, the average median pay in 2012 for a craft or fine artist is $44,380 a year or $21.34 an hour. There were 51,400 craft and fine artist in 2012 in the U.S.  who were self employed. It is possible to make a living as a crafter. But how? 

Heather

Heather was a grandmother who loved making wreaths for Christmas and her family wedding celebrations.  However, her grandchildren came first when spending money on them she would not buy supplies for her crafting.  As her living costs went up, she thought she would have to sell off her crafting supplies.  Before she decided to do that, she would splurge on making table wreaths for her granddaughter’s wedding.  Well, ladies came up to her saying how amazing her wreaths were and could you make some for my daughter’s wedding. How much would they cost, her friend said. She took her name and she said would phone with the cost in a week. Well, she went home all in a tizzy wondering what were her costs and could this be a potential craft business to make more money!  More about Heather next time. 

Icraftopia.com has done this wonderful infographic detailing the potential of the craft market either selling crafts below. Can you see the potential?  For more information on the potential of a craft or artist career, check out the Bureau of Labour Statistics facts on artists.

2012 State of the Craft Industry
Courtesy of: iCraftopia.com