JP Morgan Entrepreneur Profile

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John Pierpoint Morgan, described as a rational- but cold hearted man, was arguably the foremost banker in history. More than once, he revived a suffering United States economy from depression; and administered the organization of U.S. Steel: the world’s first billion-dollar corporation in 1901.

This legendary man, was born in Hartford, Connecticut to Junius Spencer Morgan, also a famous tycoon, and Juliet Pierpoint. He studied to become an accountant abroad, primarily in Germany and after his studies was able to find work at the New York City banking house of Duncan, Sherman & Company. After 3 years in New York with the banking house he became agent for his father’s London firm.

After his father’s death, Morgan was the sole beneficiary of his father’s firm. It required a decent amount of leadership as many affairs were left unattended when his father died. Morgan proved to be a punctual leader and reorganized his fathers firm, making it one of the most prominent banking firms in the country.

Morgan, curiously, employed a full time astrology. To become a millionaire takes luck, he said. To become a billionaire takes good astrology. Morgan, through his father’s company had strong financial links with the London financial market and was able to provide capital for growing American companies with British funds. With this, many of these companies he sponsored gave him substantial shares in the company’s leadership, stock, and profits. By the early 1900’s, Morgan controlled over 5,000 miles of railroad in the United States.

In his later years, Journalists criticized how much influence J.P. Morgan had over the country as he concentrated in buying out or merging with other companies. Away from the checks and balances of banking, Morgan was an avid yachtsman, winning the America’s Cup with his ship: Colombia. With this, he was a collector of the art- many of his possessions have been donated or loaned by his family to the Metropolitan Museum of Art.

To conculde J P Morgan was a very successful entrepreneur.

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Source by Adam Gaines

Why Should You Get Six Sigma Training Online?

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The Six Sigma training program has a proven track record of being able to improve the efficiency of any organization. Ever since it has been developed by Motorola it has showed that it is proficient of improving the results of an organization as a whole and of a single worker as an individual. The methodology put in place is applicable to a very wide range of services, making it accessible to any company that requires it. With the help of Six Sigma training online, an organization is capable of improving production quality, lowering costs and maximizing profits.

How Can It Help?

For starters, Six Sigma training online will help a company use its already available resources much better. The staff that gets certified using Six Sigma training online will be capable of showing a marked improvement in how they use their time, energy and materials during work. In turn, this will result in a happier, more productive workforce as well as an increase in customer satisfaction.

With the help of this training, your company will have better workers. They will learn new skills and improve ones that are already there to the extent where they become more marketable. Their newfound confidence will be evident in their work. Better results mean happier clients and content investors.

Where Can You Find It?

Six Sigma training online is available at reputable sources such as SixSigma.us. They specialize in teaching the Six Sigma methodology to all interested parties and offer the full spectrum of courses. Trainees can go through all the different belts until they attain the rank of Champion, ready to make a significant difference at their place of employment.

Six Sigma online training is self-paced so that each person has the ability to learn at his or her own discretion. This means that the duration of the online training courses will vary from student to student. Even so, the Green and Black Belts will require a minimum of 72 hours of training while the Yellow Belt requires approximately 16 hours. At the end of these courses, the students will know how to use statistical analysis in their favor when attempting to find a solution to a problem instead of relying purely on trial & error. When training is complete, each person receives certification with the option of adding a project certificate for an additional fee.

Receiving Six Sigma training online can vastly improve the skills and hiring potential of a person. They do not focus on a particular industry, meaning that someone who is Six Sigma certified can use that knowledge in many different areas, ranging from electronics to IT to construction. The same basic principles will always apply, regardless of the specific subject matter.

Six Sigma training online can greatly benefit an entire organization or even just a single person. It all comes down to how you apply what you learn. This knowledge will make it possible for a person to oversee and manage projects efficiently and economically.

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Source by Peter Peterka

Do Your Figures Add Up?

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I once asked a client how much she wanted to earn in her business. Then I asked her how much she charged per hour. And you guessed it, her figures didn’t add up!

When you run a successful business you can’t afford to work every single hour in your day – actually do you want to anyway? It’s not a JOB after all, is it?

Plus if you always work IN your business and never ON it, what’s going to happen? You’ve guessed, it the good old feast and famine; making time for marketing and relationship building IS one of the keys to your success.

If you model the most successful entrepreneurs you’ll notice one distinguishing factor, they don’t always trade their time for money, i.e. they’re not continuously working one-to-one with their clients. Although most will offer this as an option, they have products and programmes, events and workshops. When they do work one-to-one with clients, they will package up their services to add value and make their time work for them too.

Making your figures add up is more than having passive income – even when you can make recurring money in your business, you still have a time and money outlay too! But when you can deliver your best work on a group basis, you have a wider reach and make a bigger difference. And have enough time left over to enjoy time with your friends and family and live the life you wanted to do when you started out on the entrepreneurial journey.

What needs to happen for your figures to add up?

1. Always package up your services, so that when you are working one-to-one with your clients you are providing value for their investment and you can make a bigger difference. Don’t offer one off sessions – as it doesn’t help you or your clients.

2. Consider what information products that your clients may want and then do some research to find out for sure. But even then, promote and sell the product before you create it! This may include an online programme, webinar series or group package.

3. Get known as an expert – you may want to create a signature system that will facilitate this process. When people get what you do it will be easier to attract clients within your target area and for you to create partnerships with other complementary entrepreneurs who will help you to promote your products.

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Source by Karen E Williams

Should I Provide Sliding Scale or Discounted Fees in My Private Practice?

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Here’s a radical idea- instead of discounting your fees, just GIVE AWAY your services!

I’m serious…

Do you WANT to provide a sliding scale? Wouldn’t you rather have your private pay clients value your services enough to pay your full fee?

As you might guess, I’m not a fan of sliding scale as it devalues your services and messes up your relationship with your client. Do you feel differently about your sliding scale clients than your full fee clients? C’mon, you know you do.

Here’s an alternative for those folks who say they can’t afford your full fee-

“I have a busy practice and don’t discount my fees, however, if you’d like to work with me and truly can’t afford it I do have a few pro bono slots in my practice. The waiting list is about six months at this time. Would you like an application?”

Often, the prospective client would rather not “apply” and wait six months, and will decide to either work with you at your full fee or move on to another practitioner who will haggle fees with them. If they truly want to work with you and can’t afford your fees and apply for a pro bono slot, you’ve got a motivated client that will be gratifying to work with.

Some guidelines for this to work-

1. Don’t discount your fees, ever.

2. Do have two pro bono slots and let your referral sources know (you’ll get a lot of goodwill AND referrals, far better results than by discounting your fees)

3. Have a written agreement/contract with your pro bono clients

4. Make your pro bono services time limited- maximum 90 days/3 months

5. Reserve pro bono slots for truly deserving and urgent cases, not mild or “maintenance” cases or prospective clients who simply appear to be frugal and want a deal.

6. In your written agreement require they give back in some way- testimonial (if appropriate), referral, etc.

7. After 90 days if they wish to continue working with you require they pay full fee

Here’s what I’ve learned the hard way after 25 years of private practice as a therapist and coach- Results correlate with investment. Your clients best benefit when they invest their hard-earned dollars into working with you. The lower the investment, the lower the benefit.

It’s common (in my experience) for people who say they can’t afford your full fee to have no problem paying for expensive cars, vacations, etc. If they truly are living at poverty level there are government and non-profit alternatives. YOU are not a non-profit so don’t act like one.

It’s also common for motivated clients who really want to work with you but can’t afford it to find a way, most commonly getting financial help from a friend or family member. People don’t like asking for help, which is understandable, but YOU shouldn’t take the hit because they don’t want to reach out to their support system. You can actually coach them in being supportable and building and leaning on their support system.

Have some respect for your time, your services, and yourself. Don’t open the can of worms that is sliding scale. Been there, done that, regretted it. The “Full Fee” approach is best for you and your clients, and providing limited pro bono services can transform your practice into a valuable (and busy) community resource.

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Source by David Steele

Why Write a Book?

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To be successful in business, you’ve got to stand out: be memorable, do something different, or become an expert.

Writing a book is becoming a popular and easy way to stand out in business, but not everyone finds it easy. I often speak to other solopreneurs who have started and don’t know how to keep up the momentum, or they want to do it but don’t know how.

So why write a book?

1. You can reach more people and it allows you to communicate your message further afield. This means that you can change the lives of more people than you can do on a one-to-one or small group basis.

2. It positions you as a credible expert as you can share your knowledge and become the go-to-person in your field. This often leads to other opportunities, such as speaking or contributing to other books, where you can continue to stand out.

3. It is a great business card when you meet people for the first time. Who else are they going to contact when they want help in a particular area (and your book is on their shelf)?

4. It increases your visibility (unless you don’t tell people you’ve written it!) When you’ve written a book, more people will take notice and want to tap into your expertise.

5. It gives you a competitive edge over others in your field as people will view you as an expert in your market place.

But there is more to it than just putting pen to paper, there are plenty of steps that you need to think about before you start, such as planning, writing about the right topic and being clear on your reader. Plus once you’ve written your book, and chosen your publisher, the next stage is promoting and marketing your work. On top of that, you may succumb to procrastination, fear or worry, but I guarantee it is worth it!

Of course if writing isn’t for you, there are other ways in which you can stand out in your business. You can share your message on stage, get great PR and have a strategy to win awards. You can also elevate your message through your contacts and social media too. With all of these options, it does take time to build the foundations and then make the decision to stand out from everyone else and do it well.

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Source by Karen E Williams

Compromise Your Way To Self-Employment Success

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Employees may gripe and moan about the job, the boss, and the company, but they’re happy to take the pay cheque and they’re still employees. They inhabit the fringes of a metaphorical swimming pool, where they can keep a firm hold of the rail and not venture unaided and unsupported into deeper water.

It’s a safe place to be, this peripheral comfort zone, where not a lot of swimming has to be done, and they can bob along with little or no effort.

But what of the braver souls, the ones who pushed out from the side into the deeper and more uncharted career waters of self-employment? How did it change their lives, and how have they benefitted as a result? In short, what have they got from it?

There’s a trade-off involved; a compromise to be struck. The downside is that it’s never wise to think that self-employment will make you a millionaire overnight, because it won’t. What it will deliver is sleepless nights, worry, anxiety, and hard work; lots of all of those things.

You’ll have to do things you never dreamed you could do, and take a thousand decisions about the company you’ll care for as much as your own child. It will be like the effort required for climbing a steep and rock-strewn hill to be rewarded with a stunning vista visible only to those who have reached the summit.

The trick is to look beyond the climb and the rocks immediately in front of you, and fix your eyes on the prize, because the worry, the sleepless nights, and the hard work are the just part of the journey.

What you can get from self-employment

  1. More money, eventually. As a salaried employee, when you work weekends and evenings to accomplish extra tasks, there’s no reason for your month-end payment to increase. If you’re self-employed, that extra effort should be leading to an extra invoice, building a financial cushion in the event of lean times coming.
  2. Work with better people. Employees very often have to work with people they don’t get along with – and that could be for years. The self-employed can pick and choose, forming robust alliances within which they can be mutual-supportive, collaborating with the best clients and suppliers.
  3. Ditch the office politics. The self-employed, in whatever kind of business, are immune from office politics because they know exactly what’s going on all the time. There are no worries about what some management meeting is deciding about the future of your employment, because there are no such meetings!
  4. Understand the real state of the company. The self-employed know exactly how much money the company has in the bank, how much it’s owed and how much it owes. Knowledge delivers peace of mind by eliminating worry ¬ and you can have that money management knowledge to hand all the time with a powerful expense manager app. What’s more, you can be your own expense manager (helped by a piece of software on your phone), because you’ll be the one deciding the company expense management policy (within the laws of the country you’re working in, of course).
  5. Enjoy the flexibility. Want a sunny afternoon off to cut the grass, weed the garden, or just sit in a chair with the sun in your face and a glass in your hand? No problem. So long as no work is pressing, and no client deserving of your attention, you can do exactly that, and pick up the threads of work later when the sun has gone down.
  6. Commute? What commute? Broadband is a powerful tool, allowing 21st-century businesspeople to work from home as if they were in offices on three different continents – all at the same time! If home and work are in the same building it’s a great luxury to have an hour’s work under your belt (in the warm) whilst others are still trudging up cold, snowy streets to get to their desks, having left home 40 minutes before you got out of bed.
  7. Open all hours. Satisfying customers keeps the wheels of business turning. From time to time someone will need some support out of hours. If it won’t take long, you can ‘pop back to work’ to help them out with just about zero inconvenience to your evening – and they’ll love you for it. Remember the mutually-supportive relationship we mentioned earlier? You never know when you might need the favour returning.
  8. Dress down. Three continents? Ten time zones? Feel free to dress to suit none of them. Working alone you can wear whatever you like, whenever you like. (Though we find you work better wearing the right clothes because it ‘feels’ more like work, and not a day off. And if you’re in your pyjamas and haven’t combed your hair, don’t answer the Skype call. Being in scruffy clothing is much more acceptable than allowing others to see that you’re wearing it).
  9. Do what you’re good at. Self-employment plays to your strengths, allowing you to do what you love, and not what you dislike because you’re not too good at it. Large companies often bolt on jobs to professionals from other disciplines because it’s expedient to do so. The self-employed never have to endure that.
  10. What meal break? Take a break when you want to. Eat ice-cream from a tub with your feet in a desk drawer if you want to. It’s your company; who’s going to tell you that’s not allowed? (Well, apart from your conscience and your upbringing, of course).
  11. Control your own destiny. We know people who agonised for years about the decision to become self-employed before finally kicking off from the side of that metaphorical swimming pool and doing it. Most say it’s the best thing they ever did in their professional lives, and they wish they’d done it earlier.
  12. Become ‘the man’. That’s the goal. To be successful and financially secure by doing something you’re good at. It will never happen until you step out of the employment comfort zone. Do it soon, and backed by the right choice from the range of available money management apps, who knows what you might achieve?

The ultimate reward for becoming self-employed and starting your own business, when you’ve worked hard to make it succeed, is financial security, backed by the feeling of having created something worthwhile from personal skill, ingenuity and dedication. It’s a feeling like no other. Especially whilst eating ice cream from the tub with your feet in a desk drawer…

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Source by Sunita Nigam

The Dentist’s Question: Is This All There Is?

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If you have your own dental practice and it is successful, at some point you must be asking; “Is this all there is?” Most practice owners bought or started their practice to accomplish three things:

1. Improve their quality of life

2. To be free & independent

3. to be in control of their personal & financial destiny

But you have not accomplished any of those things. What happened along the way? In order to be successful, you had to be tied to the practice.

But it’s ok. You are a smart, hard-working, talented person. After all, you graduated from dental school, passed the boards, and people call you “Doctor”. Everything – and I mean everything – depends on you. You don’t really have a practice. You have a job from which you can never be fired. You are “Superdoc”.

If you are like most dentists who own a practice, you work 10-12 hour days, skip lunch twice a week, work every other Saturday and an occasional Sunday. Vacations, if they exist, are very hard to schedule and keep the practice running. Some practitioners simply close their practice in order to get a vacation. All the while the overhead continues. This forces them to work harder when they get back and to avoid vacations in the future.

How can you change a dentist who works in her own dental practice to an owner of a dental services business? Do not start with the practice. It is not the practice that is the problem; you are. You opened the doors without any idea of the life you wish to have or a business that would support that life. You are the biggest problem and the best solution to changing your practice. It should support you, not the other way around.

The most important product a dental practice owner can create is a great dental practice. The goods and services delivered to customers are merely tools the dentist uses to design a practice so it will continue after he is gone. To create a business that will pay him just because he created it.

The process begins with getting focused. But, what are focused on? Are you focused on the never-ending problems, obstacles, and crises that dominate your practice? Or are you focused on a strategic personal and business plan that will build a life not just a career.

There are four parts to this process:

1. Focus on your preferred future

2. Develop new success habits and sharpen old, good habits

3. Build a structure of accountably to help you implement your strategic personal and business plan

4. Develop a balance in your personal and business life

The purpose of this process is to enable the dentist to enjoy the journey from survival, through success, on to significance. How is your practice? Where do you want to go from here? Only you can answer that question, but you have to make the time, be creative and the energy to do it.

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Source by Brent Dees

10 Myths About Starting Your Own Business

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Many solo entrepreneurs believe certain things about starting their own business that are just not true. Continuing to believe in these myths can lead you down the path to destruction. Here are some of them:

o Since I’m just working for me, there is no need for a business plan. Would you go on a trip without a plan? Would you get married without a plan? Plans are good. They will help you get focused and stay that way. A good business plan will help you to think through all the aspects of your business and see you on your way to success.

o I’ll have to invest in expensive software to get a good business plan. Nope. Software may help, but you don’t need it. How do you think all those businessmen succeeded before the invention of the computer?

o Then I’ll need to hire a consultant to write my business plan for me. You are the one who knows what you are going to do. If not, then all the consultants in the world can’t help you. Try a coach or mentor to guide you, rather than do things for you.

o I should get one of those business plan templates that sound really complicated. Complicated is good, right? Wrong! Simple is better.

o I need to have everything perfect before I start. If you wait that long you may never start. Fix it as you go. Just make sure the major points are as good as they can be.

o If I don’t do everything my business plan says I’m a failure. Sometimes detours or changes can be beneficial to your long-distance plan. Don’t sweat the small stuff.

o My business plan must be typed, at least 50 pages long with a professional looking cover. You can write it in hieroglyphics on the wall – so long as you can understand it and access it when you need to.

o I only need a business plan if I’m getting a loan. Would you invest in any business without seeing a prospectus? You’ll be investing in this one! Just do a budget and run it by your accountant.

o If I have a business plan in my head – that will do. But can you remember it? Can your friends give you advice by reading your mind? Can your accountant?

o Friends and family are all I’ll need to give me advice. Could a city man tell a farmer how to run his farm? Only if your family are accountants and market research experts will they be qualified to give the right advice.

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Source by Pedro Martinez

Proposal Writing Primer

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Periodically, a Solopreneur consultant must write a proposal. Some organizations, especially government entities, will publicly announce that a project is available and request bids that must be submitted in proposal form.

Occasionally, a Solopreneur may receive a request to submit a proposal (RFP) from an unknown party. Experience will eventually teach you to not respond to a surprise RFP. Invariably, an unexpected RFP is sent by a phantom client who is either fishing for pricing information, or seeking to obtain additional proposals when it has already been decided who will be hired for the project in question, but company policy mandates that a certain number of proposals must be reviewed.

Submit proposals only after you’ve spoken with the decision-maker and received an invitation. If you’ve set it up right, the proposal will serve as a confirmation letter that spells out project details that have been previously discussed and agreed-upon.

An invitation to write a proposal is an opportunity for you to shine. Showcase yourself, your brand and your expertise and write a powerful document that reveals your analytic prowess, writing ability, practicality and creativity.

Study the requirements

If there is a written RFP, study the requirements and make note of the submission deadline. Is the project a good fit for your organization? Do you have time to write a worthy proposal? If you meet with the client beforehand to discuss the project, take good notes and confirm that you understand the goals, specifications and expectations involved. Do you have the expertise and resources to do the job? Can you achieve the goals within the time frame? Can you do the job within the budget? Must you sub-contract work out and if so, will you be able to make a profit on the project?

Confirm the desired outcomes

Interview the client and confirm the desired outcomes of the project and assess what achieving the project goals means to the organization.

Evaluate your proposed solution

Make sure that your approach to producing the deliverables will please the client. What is the primary criterion for the proposal? Is it speed of completion, price, or something else? Present a methodology that reflects what means most to the client.

Outshine competitors

Be advised that a proposal is a sales document. Highlight your strengths in the context of project goals and address any potential reservations that might prevent your proposal from being accepted.

Proposal must-haves

Some proposals specify that a certain format must be followed. If there is no such rule, include the following elements:

  • Give an overview of the current situation that has given rise to the need for the project.
  • State the goals of the project, expected outcomes, or deliverables.
  • Describe why you and your organization are uniquely qualified to successfully complete the project.
  • Present your proposed methodology for achieving the project objectives and goals.
  • Detail the timeline and cost (the justification of your proposed fee).
  • Reinforce the benefits associated with achieving the project goals, outcomes, or deliverables.

Finally, make sure that your proposal addresses all elements of the RFP or client needs. Check your spelling and grammar. Go on-line and view examples of proposals; find a format that visually communicates you and your brand and make that your template. If hard copy must be submitted, print your document on good paper stock.

Thanks for reading,

Kim

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Source by Kim L. Clark

What Does Professionalism Mean to You?

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The other day I was asked what professionalism meant to me. I never really thought about it until asked that day. When I looked up professionalism in Merriam-Webster it stated the following: “the skill, good judgment, and polite behavior that is expected from a person who is trained to do a job well”. From previous work experience in customer service I have learned that professionalism is the most important aspect when helping people. After I was asked what professionalism meant to me I stated, “Knowing everything there is to know about your job. Willing to learn more and form positive, ethical relationships with co-workers, clients, and others. Creating and building upon positive ideas or figuring out obstacles as a team member. Creating a positive but genuine image with oneself and members of an organization.”

Knowing everything there is to know about your job is a very important contributing factor to professionalism. Your job has certain requirements and policies that you must follow and work with because of company standards. Willing to learn more and form positive, ethical relationships with co-workers, clients, and others creates a foundation for you, your company, or the company you work for to grow without major problems arising in the future. Creating and building upon positive ideas or figuring out obstacles as a team member defines the skill in the definition of professionalism. A workplace should be diverse with different types of people who have different attitudes, skill sets, and mind sets with various types of backgrounds. Creating a positive but genuine image with oneself and members of an organization can be done with keeping everything just stated in mind.

The beauty of professionalism is that no matter where someone is in the world, it all as the same definition. The way business is conducted is all based on how professional everything is. Customers and outsiders can always tell if a business is professional because they all expect to be treated with respect. Customers receive this from the employees only if they are professional with the basics of skill, judgment, and behavior.

The perfect person who could best represent professionalism is Michael Androw. I highly recommend looking him up on LinkedIn where you will learn more on how professional he is. Michael was my assistant customer service manager at Publix. Due to his high levels of professionalism he was promoted before other assistant managers who had seniority. Michael knew everything there was to know and always learned more. He shared his knowledge with employees and made suggestions on what we could do better from it all. Sales and customer satisfaction levels rose during his time with our location. At Publix, sales are directly related to customer satisfaction. To this day, Michael only forms relationships in the workplace that are ethical with everyone. Things always will be done the right way but Publix is represented in a positive way because he taught professionalism to be used outside of work. He left a professional legacy and inspired many others to do the same. If it wasn’t for Michael, I would have never created my own definition.

After reading this article, what does professionalism mean to you?

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Source by Connor J Bachmann