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Top 10 Entrepreneur Trends for 2011

Guest post by: Ann Ronan

Article Overview: There's been a fundamental cultural change toward small business. Many of those who became unemployed have taken control of their own destiny by creating their own work and boosting local economies.

Top 10 Entrepreneur Trends for 2011

1. Small is better. There's been a fundamental cultural change toward small business. Many of those who became unemployed have taken control of their own destiny by creating their own work and boosting local economies. Being small allows for customized, quality customer service which everyone appreciates (see trend #10). 2. Niche it even more tightly. Entrepreneurs have to be known. To get known you have to show that you, your service or product can solve a specific problem. Be the "go to" person in your field. You can market narrowly and deliver broadly -so don't worry about not having enough business. Those who specialize make the most money hands down.

3. Multiple profit centers are mighty. I just discovered a fine example of this at the Hacienda de las Rosas wine tasting room in Old Town San Diego. The proprietors, a husband/wife team, raise Peruvian Paso Horses and make wines from local grapes, a dream come true for both of them: fine horses + fine wines = fine profits. Having multiple profit centers can buffer an entrepreneur in any economy.

4. Home is where the money is. The number of self-employed who work exclusively from home increased from 3.47 million in 1999 to 4.34 million in 2005 and has continued to increase since then (2005 Census report). And don't think people aren't making money at home: home based businesses had a median family income of $63,648 in 2005 compared to the national median of $46,242 that year.

5. Collaboration is Queen. Women entrepreneurs are leading the way by aligning with others who deliver similar and even the same services leading to expanded business for all. When it's time to take a vacation (and yes that word is in the entrepreneur's vocabulary) they may even ask a competitor to provide service to their clients -the client is appreciative and the "competitor" will return the favor.

6. Bootstrapping makes sense. Entrepreneurs work smarter when they don't have a whole lot of money to throw around. Many businesses can be started without a bank loan. A lot of motivation can be uncovered when you have to generate profits quickly.

7. Social media expanded the entrepreneur's universe and will continue to do so. Even entrepreneurs with brick and mortar businesses are smart to use Facebook and twitter. Use of these free tools allows businesses to build relationships, establish their brand and have fun too.

8. More discounts. Customers are watching what they spend and expect a bargain. Rewarding frequent customers with discounts is a smart way to keep them coming back for more.

9. Have fun -make money. Customers and clients like to be delighted and everyone loves a laugh. Entrepreneurs are lightening up and enjoying themselves.

10. Personalization leads to profits. Everyone wants to feel special. Customizing emails with customers names, sending birthday cards with discounts, personalizing offers -successful entrepreneurs are jumping on this trend with great results.

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Article Tags: entrepreneur, own destiny, profit center, small business, work from home



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Merry Christmas everyone! - I'm just waiting for my son to wake up to start our Christmas traditions and I wanted to drop a quick note here to thank everyone for your support of the forums. We've have an exciting year and hopefully we can reach and help even more entrepreneurs in 2011! I hope you enjoy your families and have a fantastic holiday break... and then get ready to kick some butt with your business in 2011! Merry Christmas everyone!
Inventor seeks investor - I am looking for an Entrepreneur. I'm new at this, sorry if i'm in the wrong spot. If I am please direct me to the right forum. Looking for entrepreneur for my invention that is now in the patient stage. Need $1800.00 to continue in the manufacturing and sales of my invention. Must have money within 6 weeks from today’s date, March, 24, 2011. Will discuss percentages with serious inquiries only. My invention is a good solid invention, and can brings thousand’s, maybe millions to my family and to the potential candidate. Please do not waist my time or yours if you are not serious about making money. Please contact us, Suzanne or Joseph @ 760-684-9520 ASAP.
Re: "Diversity" Is Costing Us Dearly! - Hi WendyGirl33, Thanks for this post. This is your 2nd post, not many have made such an impressive contribution to start with. Excellent. What can we say about this subject and be constructive. One thing is sure, nothing stays the same for ever. Trends change, fashions change, peoples perspective change etc. In fact we can never exhaust the continous changes that take place all around us. Many of the changes happen without us recognizing it until later; sometimes too late to stop it, if need be. PS, English is my second/third language. If you can write the above better, please do it an let me know. I want to learn to write better and better.
Adrian Fernandez - GH Caskets - My name is Adrian Fernandez and I've subscribed to the Entrepreneur magazine for the last couple of years. I love it. I have been workin in the Logistics field for 11 years now and I've recently started my own business. My wife's family has manufactured wooden funeral caskets for over 60 years in Mexico. I buy caskets in bulk, ship by the truckload to California where I live and I sell to funeral homes. I just had my first shipment arrive on 1/1/2011. It was a GREAT way to start the year. I am in the process now of establishing relationships with funeral directors and getting our product into their showrooms.
Re: Your weapon for success - Let use this weapon this 2011 for a great success


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