How to be an entrepreneur and the challenges and rewards encountered

Working too hard, you weekend warrior?

Wondering what to do with this year's tax refund, road gladiator?

Entrepreneurs of all ages and in all fields are hereby invited to chillax and get themselves to Kapalua Resort on the Hawaiian island of Maui in 2009.

Here's some of the latest and greatest news from Kapalua's realm:

8 Ways to Discover Kapalua Around the Social Web -For those who want to see what Kapalua is like before actually going there, we have tips on where to get Maui social media information.

2009 Mercedes-Benz Golf Championship: Geoff Ogilvy Wins in Style - Kapalua is home to a world-class PGA Tour event as well as a world-class LPGA event. You must see these courses to believe them.

5 Things to Do at Kapalua Resort in 2009 - Fun things to do as you're chillaxing around Kapalua Resort.

4 Kapalua Resort Events to Attend in 2009 - Big-time events that you can attend in person as Kapalua celebrates Hawaii's rich history, culture, fauna and cuisine. Whales, performing arts, fresh organic food, professional sports - it's all right here.

Remember - the temperature right now in Kapalua, Hawaii, no matter when you read this, is probably within 5 degrees of 72. Just thought you'd like to know. :)

Sponsored Review

While Cranberry Quiltworks has been in business since 1999, Gina became the sole owner in 2007. Since that time she has launched a new website, online store, and blog (LongArmBuzz.com), moved the company to a larger location, and significantly increased sales to become the fastest growing Gammill distributor in the western USA.

Cranberry Quiltworks operates a Gammill long-arm machine showroom where quilters can try out the state-of-the-art quilting machines before purchasing them. The company also maintains a fully-stocked quilting supplies store, offering everything from quilting thread to batting to quilting patterns and needles, available both in the Yorba Linda store and through Cranberry’s online store.

Attention all business women! If you are looking for a way to get plugged into information about other up-and-coming women in business you may want to check out the online magazine Coutts Woman. So inspired by the success stories of business women the world over, Coutts - a private banking company and parent of Coutts Woman - decided to launch the magazine in order to create value through case

studies, connections and practical ideas. This publication features success stories of various business women, personal or business finance as well has having an area of the site dedicated to travel.

A press release was recently distributed featuring a business entrepreneur and owner, Jason Tremblay, CEO of SellMyTimeshareNOW.com, a company that provides a website to help sellers and buyers of timeshare effectively connect with each other. Tremblay has built the company from its humble beginnings in the spare bedroom of his house, to occupying an office space in Dover, New Hampshire with over 90 employees, handling an expected $8 million in revenue in 2007.

A new marketing strategy that has arisen in the online world is email marketing through safelists. A safelist can be defined as a group of people who voluntarily agree to receive each other’s promotional emails; they have all joined the a particular safelist. Safelists can be tens of thousands of members strong. The safelist members email each other various promotions with the intent of generating business from their fellow members who may buy what they’re promoting, which they do. TheMadVlad.com has built up a free powerful safelist advertising program. You can also upgrade to a paid account where you can buy more advertising to optimize your email campaign results.

If you want to buy and sell online, if you have a product, service, or company you want to advertise, I suggest you check out the very successful TheMadVlad safelist email marketing program. Many customers have found tremendous value in this program, as you can read about in their Mad Vlad testimonials.

Sponsored Review

As technology continues to infiltrate our society, companies can not afford to ignore the power of the internet and its affect on business. Entrepreneurs must be innovators by utilizing technology to attract a customer base and be willing go the extra mile to understand the needs of those customers, providing them with convenient resources, information, and a quality service experience.

SellMyTimeshareNOW is a company that has succeeded at incorporating the technology of the digital age into their business strategy while simultaneously being able to offer both timeshare buyers and sellers the convenience of one stop shopping. By eliminating the middle man, SellMyTimeshareNow enables buyers and sellers to communicate directly and avoid costly appraisal or commission fees.

The company also offers a great tool which allows users to search by resort, region, preferred accommodations, price and type. There is also no shortage of information for those who wish to learn more about buying or selling a timeshare before taking the plunge. The hands on experience and direct communication impart a significant level of knowledge to the consumer, truly putting the power in their hands.

CEO Mark Eldridge said recently "SellMyTimeshareNOW.com proudly delivers more buyers through our online marketing efforts than any other company, and this year we're on track to deliver over a quarter billion dollars in offers." This success is probably a direct result of the quality of service and an understanding by the company leaders that a strong online presence is a powerful tool for business looking to get an edge over the competition.

Corporate Review 

Are you having an endless supply of long nights? I mean, the 2 a.m. kind?

Here's your diagnosis-- you have entrepreneuritis. It's where you just don't have the hours you need to get things done. And somehow, you survive on less sleep than humanly possible.

But, when does that go away? At some point, when business stabilizes, shouldn't  regular sleep become part of your new salary package?

As I'm working on The Hundred Dollar Business, I have been working more hours than I "should", and I know it. And the tradeoff seems to be sleep...

Any suggestions? 

This is an entrepreneurship blog--so hopefully you've started a business... or want to start one... or have just sold one for millions! ;)

The community I work in has many innovators whose startup stories have inspired me. One of my favorites is JDawgs, a smartly placed and well organized hot dog stand on the corner of BYU campus, which has done really well.

I'd love to hear your stories! Tell us about how you got started, with your first business endeavor, or your current one.

Who knows, maybe your story will start to ignite the entrepreneur fire in someone else! 

Just for fun, I wanted to mention a few things that have come up during my "100 Dollar Business" experiment, that I wouldn't have thought of--

1. Having change for the cash register.

2. Counting in shoplifting losses.

3. The time it would take to set up the shop in the morning.

4. The absolutely dire necessity for great visual merchandising, and the impact it has on sales.

5. The complexity of managing details for several people, products, and financial processes.

6. You can't work in your store at the same time you work on your store--there's a tradeoff.

If time spent losing sales is at the trade of brainstorming better ways to market my business so I'll have more customers, it's worth it. But if I'm losing sales because I'm checking my e-mail or on the phone, it is frustrating.

7. Little "losses" and "expenses" can add up quickly-- keep good records of everything!

8. Plastic wrap and packaging inhibits customers from interacting with the product. So don't use it when possible. ;) 

We post daily, in-depth updates on The Hundred Dollar Business blog, so read there for more details!

Today's the day!

After one day of planning and four days of making arrangements, The Hundred Dollar Business will be officialized and getting started today!

This is my first truly completely-on-my-own business project, and I am totally excited. I'll be releasing details later about what exactly we are doing for this month's business.

On the to-do list for today is getting the legal paperwork from the city, setting up the bank account, getting inventory sheets and vendor agreements prepared, ordering and picking up products, setting up shop, and... getting the word out!

Most of the experiment details will be at the Hundred Dollar Business blog site, but we'll also post snippets here, just to keep you updated.

And if you have any suggestions or you know someone who knows someone who... post a comment on BizImpresario, or find our contact info here. I'd be glad to hear it!