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Entrepreneurship: Part Three

Being Your Own Boss: Part Three

The Valuable Skills You Acquire Upon Opening Your Own Company


Negotiation Tactics

One thing that happens when you start your own company is that you suddenly become more familiar with legal matters than you had ever imagined.  Unfortunately, lawyers are expensive and want money up front for most cases, no matter what the situation is.  To avoid lots of extra unnecessary expenses and getting tangled up with attorney after attorney, I have learned to be my own advocate and negotiate legal situations myself.

Self Reliance

Being a small business owner, your company lives and dies by your actions.  You can’t blame your problems on a wrong-doing by the CEO or no malfunction in your company’s product. Why? To phrase it simply, you are the CEO and if your product is working improperly, it’s your responsibility. Unfortunately there is no way to completely avoid mistakes.  What you have to do is be as organized and prepared as you can be so that when something goes wrong you are prepared to deal with it and can learn from your mistakes.  Ultimately you have to learn by doing, and even though it may not be super fun, part of the “doing” is making mistakes.

As a business owner, you slowly but surely begin to understand what complete responsibility over a corporate entity is. It takes some getting used to, but it is well worth the wait.

Marketing and Advertising

You can’t cut corners on this.  As a small business owner, chances are that you don’t have the money to hire a top PR firm and / or advertise all over the web. When advertising, be creative.  There is an enormous amount of information on the web about how to optimize your site for search engines so that your clients will be able to find you more easily.  Invest time in writing good content for your site (for an example of good content that has been optimized for search engines, go here) making sure it is kept up to date and spend a little money on a designer to make it look professional and appealing.

Unless you actively like cold-calling people to go to your site, use the web to its fullest extent.  Don’t be afraid to do a little self-promotion.  With all the social media sites like Twitter and LinkedIn that are now available, there is no excuse for not having enough connections or leads to spread information to.  CopyBlogger is a great source for information about how to do your own marketing through the web.  Seth Godin, bestselling author of  “Linchpin” and “Tribes” is another authority on modern marketing.

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