Top Ideas To help You Achieve Success As An Entrepreneur

Winners don’t do different things. They do normal things in a bit different way. The maxim is true in its entirety. If you are an entrepreneur by profession and are in the habit of seeking constant streams or sources of ideas you should get the point that every time you might not need a concept which is as new as a new penny just out of the mint. In order to achieve success as an entrepreneur you mint have to mine a little harder. Probably you are going to find a perfect mix and match of the traditional methods as well as some mint fresh concepts useful for your ultimate objective. Here is a quick peep at some quintessential ideas which are going to help you a lot in terms of accomplishing your objectives and set your mark as a visionary entrepreneur of this era.

Overcome pessimism

Pessimism can prove to be biggest hurdle for your success as an entrepreneur. It is an impediment as well as a predicament. So you do need to make it sure that you are going to overcome pessimism at any cost. In order to overcome the problem of pessimism you can make use of the technique which renowned and astute motivators would like to describe as ‘auto-suggestions’. It is a particularly useful method which is often adopted by professionals, sports people as well as top notch sales people so that they can tide over the negative feelings that threaten to unhinge their mindset.

Go for a certification program

If your business is in a state of its formative years or in its startup phases then you do need to go for a certification program. You can consider the 8a certification program in this regard. With the help of this kind of a helpful program you are going to win your spur in your respective field of business in due course of time.

Use latest technologies

Use latest technologies such as crowd sourcing, social sharing through internet, life style apps, specific tools for enhancing productivity (TENXER, EVERNOTE). These technologies are gradually turning out to be the tools that change the way business are done on global platforms.

Take care of official red tapes

Take care of official red tapes are going to be a pain in the neck if you are not careful enough about them. Do everything in your power to make sure that the obstructions are well taken care of. If you have to pull strings, then pull strings. Use your connections. You would be surprised to know that an 8 a certification program can prove helpful in this regard. If you are 8a certified then you get to face less amount of stringency from official circles.

In order to give you a final word on this issue, you must make it a point that you are not going to get distracted while making your earnest initiatives. If you have to achieve success as an entrepreneur then you do need to make it a point that you are going to turn out to be more productive in a true sense. You need to reinstate or concretize your business vision. You have to tap into your expertise or potential and most importantly you have to keep asking questions that keep you motivated and help you brave through oddities.

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How Small Businesses Can Increase Their Sales Through Federal Contracting?

If you are an owner of a small business, you can increase your sales through federal contracting. As per the law, the federal agencies are needed to establish contracting goals. In fact, twenty-three percent of all the government purchases are intended for small businesses and these contracts goals are established for small disadvantaged businesses, service disabled veteran owned businesses, firms in HUBZone area, and women-owned businesses. So, if you are an owner of a small business, you can take this opportunity to bid on for federal contracts.

The U.S. government is the world’s biggest buyer of goods and services. It purchases about all categories of service and commodities available. It’s actually up to you to promote and match your company’s services and products to the purchasing requirements of the federal agencies.

However, not all small business owners can get an access to the federal contracting opportunities. Only the firms that are eligible for the SBA certifications can compete for the federal contracts.

How Small Businesses Can Increase Their Sales Through Federal Contracting?

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Getting the business certified

The first thing that you need to do is get your business certified by the SBA. If you are a small business owner who is economically and socially disadvantaged you should obtain 8a certification. If you are a woman who owns and controls 51% of a small business, you are eligible for women owned small business certification. On the other hand if you are a service disabled veteran who owns a small business, you should obtain SDVOSB certification. The small businesses that have their principal offices and thirty-five percent of their employees located in a HUBZone area are eligible for HUBZone certification. By obtaining the SBA certifications, the small business can get sole source and set-aside contracts.

Getting the business registered on the contracting resources

If you think that by getting your business certified, you can win government contracts you are wrong! You need to register on the contracting resources because these are the places where the federal procurement officers usually search for when they are in look out for contractors. As a business owner of a small business, you can register your company on the DSBS database, SAM, GSA Schedules, FedBizOpps, Federal Procurement Data System, OSDBU.Gov and USASpending.gov.

Identifying federal contracting opportunities

As a small business owner you should be able to identify the federal contracting opportunities. You need to be proactive. You should first decide the products or services which you want to sell to the federal government and look for the agencies that need your services or products the most. Remember one thing that the federal government is considered as the biggest consumer of goods and services in the world. It buys almost all kinds of products and services. You just need to find out which agency needs your product/service. After finding this out, you should start bidding on the contracting jobs available. Federal Business Opportunities website is a great place to find the federal contracting jobs.

Obtaining SBA certifications are truly an awesome idea! Especially if you are a small business looking to win federal contracts!

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7 Common Myths About The 8a Certification

Myth 1 : I can’t get certified if a family member is already in the program

The SBA has a waiver, which can be granted if the two firms are located in and market to a different territory or if they are in different industries.

Myth 2 : A majority of my sales must come from the private sector or I will lose my certification

The SBA has business mixed targets that your firm must meet in the ‘Transitional years’—years five to nine of its certification. In the years 5-9 you must have 15-55% of your sales from the private sector. If you fail to meet these targets you could lose your ability to perform on sole source 8a contracts. Automatically if you don’t make good faith efforts to correct this business mix target, you could lose your certification.

Myth 3: A firm cannot get certified unless it’s been in business for at least two years

The SBA has a waiver, which can be granted to firms that are wanting to obtain the certification sooner than two years. Typical requirements are that:

• The owner has a significant business background and has a significant technical background in the industry of the applicant concerned.
• The firm has successfully performed on at least one federal contract
• The firm has a potential for success indicated by income, profit and the firm must have at least one tax return.
Note a two year waiver is not needed if the only reason the firm is less than two years old is that it has an entity type change. For example, from a sole proprietorship to a corporation.

7 Common Myths About The 8a Certification

Myth 4 : A firm cannot get certified if it’s had a prior application rejected by the SBA

The SBA rejects 70% of 8a applications for a lack of completeness. Having your application rejected on its first attempt is very common.

Myth 5: An 8a certification isn’t that beneficial for my business

In 2011 8a certified firms received 18.4 billion dollars in federal contracts. This represents 2-3 million dollars in additional annual revenue per 8a certified firm.

Myth 6 : A company should be a well established mid-tier business before applying for the 8a certification

The SBA will certify firms with as little as $100,000 a year in annual revenue. Once certified, the SBA gives the firm the ability to enter into: joint venture and mentor protégé agreements with large federal contractors. These relationships enable the 8a certified firm to greatly increased growth by providing them with expertise, bonding, insurance, financial capabilities and other assistance.

Myth 7 : I must be a 100 % member of a minority group in order to prove SBA that I am socially disadvantaged

If an individual can show a 25% or more blood lineage to a presumed disadvantaged minority group like Hispanic American, African American, Sub-Continent Asian, Asian Pacific American or a Native American, he/she can qualify for an 8a certification. In some cases, the SBA will ask for additional supporting documentation to show that you represent yourself as a member of that presumed group in American society.

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