Entrepreneur shares building blocks of successful ventures.
What does it take to be a successful entrepreneur?
Above all, you must be willing to take risks, says Jamie Osborn, who in 2006 launched Endurance House, a Madison, Wis., business focused on the needs of walkers, runners and triathletes of all abilities.
The venture has gained a foothold in the local market, and began franchising in 2011. The company will open new stores in California and Colorado in the fall of 2013, and is considering awarding franchises in Florida, Texas, Minnesota and Georgia. While things are certainly taking off, success didn't come without taking risks and suffering setbacks.
Failure is "information that leads to your next success," Osborn told a group gathered recently for a business workshop at American Family's DreamBank in Madison. "It's ... what you experience on a very regular basis."
Here are five additional attributes Osborn cited as key to entrepreneurial accomplishment.
Hope – You must remain optimistic that what you're trying is going to work. When it doesn't, stay positive that the next thing will.
Belief – If you hope enough, you start believing that good things are going to happen, and that your vision will become reality.
Action – Entrepreneurs cannot be passive. They must harness their beliefs and stay focused on reaching their goals.
Competitiveness – With a small business, you're always going to be competing. Be ready for a challenge and stay focused on what you do well.
Perseverance – Success doesn't happen overnight. It can take years to achieve.
Hear more on these topics from Jamie himself in this audio recording (9:17) from his recent DreamBank appearance.
No business wants a workplace accident. Even with insurance to cover the financial impact, employees may be injured, equipment damaged and business opportunities lost. Further, customers who use a competitor while you're rebuilding may not come back.
When you and your business take a proactive approach to safety, you're putting money back in your pocket. Businesses that are safer, manage risk more effectively and control losses better typically are more profitable.
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For more information or to request a safety consultation, contact your American Family Insurance agent.
Safety resources to fit your needs
For many businesses, an on-site inspection or safety review may not be necessary. For those businesses – or for those who simply need a safety "refresher" – American Family offers many online resources to help you identify potential hazards and the steps necessary to correct them.
Soon, we'll be trading winter's high heating costs for summer's soaring cooling bills. Before the heat climbs too high, take steps to conserve energy and save on your utility bills.
When you conserve energy, you're helping the environment, too. Here are a few commonsense tips to reduce your energy usage:
In a few weeks, we're launching American Family's new and improved Business Accelerator that's been optimized to help you achieve your business dreams.
Here's a snapshot of what's new:
Articles, tip sheets, tools, live and on-demand video presentations and a whole lot more are in store!
Sign up and stay tuned for updates at the Business Accelerator website.