Useful Business Tips for the New Entrepreneurs

Many new companies or entrepreneurs, in the early stage, go through a period of confusion and don't know how to start with their businesses.

These 21 tips are lessons collected from many business experiences by eGTCP.com.

image credit: internet

1. Take risks.

One of the most exciting parts of being an entrepreneur is the thrill and exhilaration you get from seeing if something works.

2. Answer questions on Quora.

This helps establish your expertise, knowledge and wit. It is also cool to look back at your answers and see how much you’ve grown personally and professionally by re-reading your previous answers.

3. Cold email everyone.

Do it. We see many emails that shows how to cold email, and the value of cold emailing.

4. Keep an idea journal.

Anyone who said ideas aren’t worth anything never had a good idea. Don’t listen to that crap. Write 10 ideas every night in your idea journal. Read what James Altucher says about your “idea machine.”

5. Network up.

Networking up can afford you mentorship opportunities, help strengthen your network (obviously) and help you learn from people who have the success you desire.

6. Network horizontally.

Your peer group is going to be with you forever. Meet them, learn from them, network with them.

7. Network down.

You’re going to always have more knowledge and experience than others. Even if you’ve only been an entrepreneur for one month, there’s an entrepreneur out there that’s only been an entrepreneur for one day.

8. Be open to advice.

Listening to the right advice is valuable to your business and your life.

9. And don’t listen.

Don’t listen to all advice. Take everything with a grain of salt, and learn how to trust your gut.

10. Work with people you like.

This is important. If you don’t like the people you work with, you will never be able to maximize your opportunities and thrive.

11. Disconnect.

It’s easy to lock yourself in a room and work all day and night. Learning to disconnect is just as important as working hard. Your brain needs rest. Disconnecting can give your brain the necessary reset it may need to help solve the problems you're facing that day. This might be the most valuable lesson you learn.

12. Brand yourself.

No matter what you do, it is important to have a strong personal brand. As an entrepreneur, branding yourself is your only real security.

13. Commit to a regular workout schedule.

Your health is your most important asset. You can be the most successful person in the world, but that won’t matter if you don’t have your health.

14. Learn everyday.

Entrepreneurship is about solving problems and learning on the go. It’s exciting to learn new things, and as entrepreneurs we should be learning something new every day. That’s part of the gift of entrepreneurship.

15. Write down what you learn.

Writing down the things you learn on a daily basis is important too. Some days are harder than others, and having a journal of all of the things you’ve learned will give you strength when you’re feeling weak. 

Learning is an asset, and your lessons can help give you reassurance when you feel like giving up. It can be that "money in the bank" when there's actually not any money in the bank, and give you the courage to keep fighting. 

16. Use LinkedIn.

LinkedIn is a very effective business tool. You can network with pretty much anyone, read blog posts and show off your accomplishments and expertise on your profile.

17. Read everything.

Dedicate time to reading blogs, newspapers, magazines and books. Read stuff related and unrelated to your business and read fiction and non-fiction.

18. Eat healthy.

Food is the energy source for your body. If you eat unhealthily, you’re going to have low energy levels and risk potential health issues. This will save your life.

19. Get a part-time job.

If you don’t have regular income coming in from your startup yet, get a job, even if you have support or savings. It will help alleviate your monetary stresses, which can create an unhealthy mental state.

You need to be strong as possible to take over the world through business, and the last thing you want to think about is how to pay rent next month. Plus, at your part-time job, you can tell everyone about your new business, and potentially gain users, clients or customers depending on what type of business you’re creating.

20. Ask for help.

Put the pride aside. This thing of ours (entrepreneurship) is much too difficult to do alone. Ask for help. People will respect your willingness to learn and be humble. You’d be surprised what can happen when you ask.

21. Don’t ever give up.

If you’re an entrepreneur, be an entrepreneur. Don’t listen to the naysayers. If you fail with one idea, start another. You’re an entrepreneur, no matter what, whether up or down, success or failure, you’re always an entrepreneur. Remember that.

Bonus: Have fun.

Do what you want, enjoy life, build the business and culture you've always dreamed of. Fun is infectious, and can help attract the right customers, the right team and all of the right opportunities. 

Popular services in global trade:

financial support-$100,000, buy now, pay later

credit inquiry-know your partner's credit status to avoid trade risk

factory inspection/loading monitor/trade assurance

Follow us:

You can also contact eGTCP.com directly via mail (service@egtcp.com) or phone (+86 400-159-8448).

                                                             

Billions are poured into US Start-ups by Chinese Investors

Chinese investors found more than 100 innovative technologies eager to find a market and money and in China when they attend Houston's second annual US China Innovation and Investment Summit (USCIS).

A home system to grow organic vegetables in your kitchen, a machine to extract water from air and medicine that reduces the need for insulin doses from four to one a day are just a few of the highlights of the summit InnoStars competition.

Hosted by the Houston US China Innovation Alliance (USCIA) and China Science and Technology Exchange Center with additional support from organizers and organizations, the three-day event began on Monday with close to 70 US companies pitching their innovative technologies to Chinese investors.

image credit: internet

Roughly 50 technologies were selected to embark on a sponsored China tour, allowing the ideas to be directly pitched to multiple Chinese companies, later this year.

Benjamin Blumenthal, CEO of SunToWater Technologies, said that his company's products extract water from air at 8 cents a gallon. They are not only looking to enter the China market, they also want China to be their gateway to Asia.

China also offers the opportunity to evolve his technology. "We can add another unit to purify the air before pushing the air out," he said. "Cities like Beijing and Shanghai could definitely benefit from such technology."

Mike Moradi, CEO of Sensulin, which develops advanced medicine to combat diabetes, said that with his family members suffering from the disease, he is on a personal mission.

Moradi said that there are more diabetics in China than in any other country, so there is a big market for his products.

"I want people in China to have access to modern medicine. With this technology we can do things faster, better and cheaper. And I love Chinese culture and people. I have a weakness for Sichuan hotpot," said Moradi.

Andrew Dewey, CEO of Organiponic, said that China has only about 7 percent of the arable land in the world yet needs to feed 20 percent of the world's population. That's a big challenge he thinks his company's home agriculture system can help solve.

Chinese companies are looking for more than just technology, Liu Yi, president of Guangcai Group, told the US business people. His investment company has 10 billion RMB in medical funding alone.

"I am here to look for opportunities in the medical, environmental and AI manufacturing fields, but Chinese companies need more than technologies to succeed," said Liu.

"Little has been invested in developing new technology and products, and most of their marketing models are traditional. You need to bring new management models and new business ideas also to help Chinese companies succeed in the long run," Liu said.

Some Chinese companies are not sustainable because of the sluggishness of the traditional way of running businesses.

Focus on:

We, eGTCP, welcome you to apply for GTCP(Global trade credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started! 

Follow us:

You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com     Tel: +86 400-159-8448

                                                            

9 TED Talks Make Your Brain Orgasm Several Times Within 10 Minutes

TED talks have never been strange to business persons. It actually stands for Technology, Entertainment, Design. The main TED conferences have been held annually since 1990, you may don’t know.

Image Credit: Internet

Some of the most insightful talks take up less than 10 minutes of the viewer's time. As you may be too busy to watch it, we’ve collect some shorter ones for you to boost your mind in a short time. If you are in a hurry, they’ll be perfect to give your mind a quick charge. 

An easy way to find trusted Chinese suppliers

Here’s China’s best logistics service providers you are looking for

[FREE] Business credit score checking you may be interested

1, "How to speak so that people want to listen" by Julian Treasure

Duration: 9:58

2, "Get ready for hybrid thinking" by Ray Kurzweil

Duration: 9:52

3, "I listen to color" by Neil Harbisson

Duration: 9:35

4, "5 dangerous things you should let your kids do" by Gever Tulley

Duration: 9:18

5, "The next outbreak? We're not ready" by Bill Gates

Duration: 8:32

6, "The hidden power of smiling" by Ron Gutman

Duration: 7:26

7, "Grit: The power of passion and perseverance" by Angela Duckworth

Duration: 6:12

8, "Let's try emotional correctness" by Sally Kohn

Duration: 5:59

9, "Forget multitasking, try monotasking" by Paolo Cardini

Duration: 2:52

An easy way to find trusted Chinese suppliers

Here’s China’s best logistics service providers you are looking for

[FREE] Business credit score checking you may be interested

Since you entered this zone, you must be wondering why you accept things so easily. Sometimes, you get to learn to refuse or reject. Let me recommend you one more to make you a perfect success in future.

"What I Learned From 100 Days of Rejection" by Jia Jiang

Focus on:

We, eGTCP, welcome you to apply for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started! 

Follow us:

You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com     Tel: +86 400-159-8448

                                                            

4 ways to make your business credit come alive and get loans

Frequently you need access to finance as a business owner. Getting a good business credit is important for your business success. If maxing out your liquid cash is not an option you're likely to consider.

Image Credit: Internet

A good business credit is necessary when you understand that separating your personal entity from your business entity comes with several added advantages. But that aside, a lot of small business owners often find themselves wishing they had done things differently when they run out of cash and have to depend on credit to keep their business going.

Below are ways to avoid ruining your business credit.

1.    Be disciplined with debt.

Debt and credit cards go hand in hand. Credit cards often blur the line between unrestricted access to cash and careless spending, which is why it's often called bad debt. Not only does paying bad debt reduces your financial capability, it also leaves you with little control over the debt. That can be detrimental to your credit score.

          SEE ALSO:
           Exclusive: leave your order worry-free from head to toe

         Buy now, pay later: win a major cash boost in a minute

         Max 1.2% trade rewards add wings to your future business

As a small business owner, your personal credit report is very vital to your business credit. This means you should learn to be disciplined with your debt. Your personal assets, which also includes your creditworthiness, may be what your business would rely upon to secure funding in the early stages.

Many articles have treated the topic of how to be disciplined with your debt, but the simple rule is to avoid buying what you have neither cash no need for.

2.    Maintain a sizable liquidity.

Maintaining liquidity will rescue you when things begin to sting financially in your business and securing a loan or credit option for such events is not wise. How do you know when securing a loan or credit option is not a wise idea? If paying it back will make you wish you did not take the loan.

There are several ways to maintain liquid cash in your business, but some strategies will be more effective. Amit Sharma, the founder of Mayaflowers.com, says her strategy involves giving discounts to customers who patronized her business frequently and following up with clients with the potential to run up huge invoices. "We used to follow-up with every sale via phone to ensure that each buyer is satisfied and would also offer discounts to ensure the cash keeps flowing."

Now her business doesn't usually face the problem of unpaid invoices since her operations are now based online and customers pay before their gifts are shipped.

3.    Take advantage of R&D tax credits.

Do you know that your business could get funds back from the government in form of R&D tax credits for staff, contractors and consumable costs spent on development activities? And this option is not only open to big companies -- in fact, the program was designed with small and medium-sized businesses (SMEs) in mind.

While the process of taking advantage of R&D tax credits in a place like the UK is quite straightforward, factors like your Alternative Minimum Tax (AMT) could come in the way in the US. Following the passage of the PATH deal in 2015, small businesses in the US can now take advantage of R&D tax credits.

      SEE ALSO:

      Exclusive: leave your order worry-free from head to toe

          Buy now, pay later: win a major cash boost in a minute

          Max 1.2% trade rewards add wings to your future business

Taking advantage of R&D tax credits could help you reduce financial pressure, according to an R&D credit tax experts. According to Barrie Dowsett, the CEO of Myriad Associates -a UK firm that helps UK and US businesses maximize their R&D tax credit claims, "getting an R&D tax credit can help business owners minimize the financial pressure they incur from funding research projects and limit the amount of external funding they need."

Barrie Dowsett goes on to state that a lot of SMEs are not taking advantage of this excellent opportunity because they are either not aware of R&D tax credits or believe that their daily technical challenges and project uncertainties don’t qualify.  It is always worth speaking to a specialist in this area.

4.    Build up your credit rating.

There are several ways to build your credit rating, which is very vital for securing credit from any lender. The best way is to avoid anything that can negatively affect your rating in the first place. Start by canceling any credit card you're not using. Financial advice experts recommend canceling any unused credit cards because it has the potential to hurt your credit rating in several ways.

You should also guarantee you're never late on paying back any debt which includes credit cards, mortgages, bills, personal loan and other debts that could be reported on your record.

Get business loans and expand your business by clicking www.egtcp.com.

Focus on:

We, eGTCP, welcome you to apply for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started! 

Follow us:

You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com     Tel: +86 400-159-8448

                                                            

13 Game-Changing Buying Skills The Rich Don't Want You to Know

Image Credit: Internet

2017 China Carton Fair is about to start. Have you decided what to import? Have you improved your essential skills of business so that you can get high quality products from good suppliers? Here are some tips that can surely help improve your negotiation skills.

13 Essential Skills of an Effective Buyer

1. Interpersonal Skills

These are the life skill that is used every day to communicate and interact with other people, both individually and in groups.

As a buyer, developing strong interpersonal skills will not only make you more successful in both your professional and personal live, it will also enable you communicate effectively to your team and other stakeholders in the procurement process.

2. Negotiation Skills

As a buyer, you need to interact with suppliers for various deals. The success or failure of the deal depends on how effectively you are able to negotiate with your suppliers. Negotiation is a process in which you and your supplier with conflicting requirements reach an agreement of mutual interest.

The objective of the negotiation process is to ensure the supply of five rights: right product or service at the right price, right time, right location and right quantity. You will have to balance these rights.

3. Result Focus

This is a term used to describe an individual or organization that focuses on outcome rather than process used to produce a product or deliver a service.

Meaning, as a project procurement manager, being result focused will enable you to see the end in your mind. And seeing the end in mind will also enable you become much more focused on the actions that will yield the desired outcome – a successful procurement.

4. Financial Acumen

As procurement manager, having the ability to make smart decisions with an overall understanding of the financial factors and the outcomes of those decisions is what financial acumen means.

As a project procurement manager, having financial acuity will help you understand and negotiate for the right cost that meets the forecasted budget.

5. Cost Management Skills

As a project procurement manager, developing cost management skills enables you to evaluate, optimize, and control all aspects of cost of the procurement project. That is, it enables you monitor all costs and ensure that they remain aligned with the forecasted budget for the project procurement.

6. Contract Management Skills

Managing contract creation, execution and analysis to maximize operational and financial performance in your organization, while reducing financial risk depend on having sound contract management skills.

Developing contract management skills will enable you to carry out effective project procurement contract that ensures better supplier and vendor relationship but also, effectively, enforces compliance and mitigates risk.

MORE:

Exclusive: leave your order worry-free from head to toe

Buy now, pay later: win a major cash boost in a minute

Max 1.2% trade rewards add wings to your future business

7. Category Management Skills

This is the practice of segmenting the main areas of organizational spend on bought-in goods and services into discrete groups of products and services according to the function of those goods or services and, most importantly, to mirror how individual marketplaces are organized.

Developing this skill as a project procurement manager, will enable you ensure that the proper sourcing strategies are used to identify the suppliers that offer the highest value.

8. Strategic Sourcing Skills

This involves identifying the optimal mix of goods and services that best support the enterprise’s project procurement objectives.

Having this skill as a project procurement manager enables you analyze high-volume purchases and develop long-term partnerships with a selected group of suppliers that are capable of providing quality products and services at low costs.

9. Project Management

As a project procurement manager, developing this skill is mandatory. Why? Because, it enables you to apply the knowledge, skills and techniques to execute projects effectively and efficiently. And as a strategic competency, it will also enable you to tie procurement results to your organization business goals.

  

10. Technological Skills

To drive value, efficiency and effectiveness of project procurement while making tasks manageable requires technological skills.

Developing technological skills as a project procurement manager enables you to manage, monitor and maintain project procurement tasks using technological devices and procurement software-as-a-service.

11. Analytical Skills

To solve both complex and uncomplicated problems by making decisions that are sensible given the available information is made with the capability of analytical skills.

Having such skill as a project procurement manager, helps you to make the most well-informed and correct decisions by gathering information, articulating and solving complex problems that may hinder a successful procurement.

MORE:

Exclusive: leave your order worry-free from head to toe

Buy now, pay later: win a major cash boost in a minute

Max 1.2% trade rewards add wings to your future business

12. Presentation Skills

Being able to present yourself in a clear, confident, and professional manner to those above, below, and beside you in order to gain influence or buy-in depends on presentation skills.

As a project procurement manager, having presentation skills boil down to credibility, which will allow you to influence and allow you and your team to get buy-in and navigate inter-departmental collaboration that brings about a successful procurement projects.

13. Risk Management Skills

This is the ability to implement strategies that manages both every day and exceptional risks of procurement projects based on continuous risk assessments.

As a project procurement manager, having this capability will enable you implement strategies that manages every day risks with the objective of reducing vulnerability and ensuring a successful procurement project.

Conclusion

Project procurement, like any function, has to run or support many different kinds of projects. To do well, you have to be able to execute well, you have to be able to engage with stakeholders and suppliers, and you have to consistently hit your mark.

Collectively, this means planning and executing project procurements that run on time and budget and deliver results. And these essential qualities of an effective project procurement manager will enable you become capable in executing well in this role.

So, what other essential skills of an effective project procurement manager do you know?

As I know, you can ignore all the skills above and use our Global Trade CREDIT ASSURANCE PROGRAM (GTCA) instead.

GTCA aims at helping buyers and suppliers solve all issues to trust and risk in trade, in the way of endorsing Chinese exporting enterprises to international buyers so as to control risks in trade and promote to settle down trade orders safely and quickly.

Focus on:

We, eGTCP, welcome you to apply for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started! 

Follow us:

You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com     Tel: +86 400-159-8448