Friday, December 29, 2017

Avoiding a Shortsighted Approach to Financial Planning and Analysis



by Peter Wagner, on Dec 28, 2017

Accounting technologies often celebrate their ability to collect all financial data in one place and make instant access available to every number cruncher on the team. But what if those advantages were actually limitations?

The practice of financial planning and analysis is evolving quickly and moving far outside the scope of budgets and balances alone. Decision makers are increasingly incorporating operational data with financial data, including sales and marketing figures.

Finance and accounting are just one piece of business planning generally. This holistic approach has a lot of benefits. But the bigger concern is what happens when businesses fail to keep pace with others in the industry.

The Hazards of a Shortsighted Approach

Conducting financial planning and analysis using financial data alone encourages a shortsighted focus on immediate goals and objectives. Ultimately, that sacrifices long-term success for short-term stability.

Limiting the focus to financials also leads to contradictory efforts. For instance, accountants might recommend slashing marketing costs to balance the budget at a time when a big ad push could be a strategic asset. A shortsighted approach forces the right and left hands to work against each other.

Finally, and most consequentially, financial data alone does not tell the full story of finance. In fact, numbers can be notoriously subjective and misleading. When reporting is based on some but not all of the data, there is more room for manipulation and distortion. The details do not add up to the truth. 

Luckily, integrating financial and operational data is achievable with today's technology.

Transforming Information into Insights

The traditional view of a business as a set of discrete departments has evolved to acknowledge that these departments are interconnected and interdependent. So, if marketing and finance are influencing and impacting each other, why are they working separately?

Using all available data to create reports upgrades the process in every way. Decision makers can forecast the future rather than archiving the past. Efforts and inputs are streamlined to achieve common strategic objectives. And the true health of the business is illustrated in accurate, up-to-date detail.

Implementing a common platform for all data, all users, and all analysis might sound like an overwhelming obstacle. But with tools like Sage Intacct and Adaptive Insights it can be simple and seamless. Getting these solutions off the ground is easier thanks to the cloud. And their features and functions make true business planning accessible to organizations of all types.

Working together to success

We would like to express our sincerest appreciation for the trust you have placed in us. Thank you for giving us the opportunity to serve your business. We wish you all great success in 2018! Happy New Year!!

We invite you to read our customers testimonials: 


Soledad Tanner Consulting, LLC offers Financial Management and Business Consulting. We support businesses, professionals, and corporations to grow efficiently and obtain higher profitability and productivity. Our consulting solutions are: Financial Management, Business Consultancy and Individual Solutions.

We offer a free 1-hour consultation! Contact us 832-998-2136, 

Soledad@SoledadTanner.com, www.soledadtanner.com


Thursday, December 21, 2017

STC wishes you health, happiness, and success in 2018

During this Holiday Season, we take time to reflect upon the good things we have in our daily lives. Your friendship and partnership is our treasure!

We hope that 2018 is filled with health, happiness and spectacular success!


           
   Soledad Tanner Consulting
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3 reasons why you should start a business in 2018


If you think you’re ready to start a business next year, here are some of the advantages. Be the master of your own destiny in 2018.
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Don't worry, we are here to help! We bring you proven and profitable strategies. Increased your revenue & stay competitive.
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Literary Classics

5 Questions to Ask Yourself Before You Start a Business


Thinking of starting a business? There's a lot of thinking to be done to start on your own. Like any relationship, if you want it to be successful, prepare yourself to have it's ups and downs and surprises. 
Continue reading this article >>
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Keep your eye on the goal


If you don’t know your goal, don’t have a goal or can’t articulate your goal, stop! Write down your goal. Look at it every day. Read it out loud. This is what will keep you going.
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Choose from our Monthly Financial Management Plans


Why is it important to evaluate the performance of your company, month by month? Are you afraid to face the financial reality of your business? Would you like an expert to analyze and interpret the results? Don't worry, we are here to help! 
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Receive your 1-Hour Complimentary Consultation here 
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Friday, December 8, 2017

IFLN Group testimonial

"I have known Soledad Tanner for over 15 years and I was extremely pleased when I learned she will undertake consultancy work that I can tap on. Managing a small company, all of her expertise came in handy when we need it to tackle a major project. Soledad’s ability to focus on the core issues of the project, collect and collate supporting information and steer us in the right direction proof invaluable to us. 

I strongly recommend to any organization with STC Business & Financial Management Consulting needs to engage Soledad Tanner as she has been invaluable to us".

Rocio Hidrobo
Executive Vice President
IFLN Group
Web:  http://ifln.net/

5/12/2017

There's some good reasons to start a business in 2018




BY DEBORAH SWEENEY
NOV 10, 2017

2018 is rapidly approaching and with the end of the year comes plenty of resolutions for the New Year. For aspiring entrepreneurs, starting a small business is most likely at the top of their to-do list. 

However, this resolution is easier said than done. Starting your own business requires investing all of your time, energy, and resources every day to help the business take off and become a success. It’s hard work, but it also pays off and allows you to be the master of your own destiny which may be why entrepreneurship is such a popular resolution. 

If you think you’re ready to start a business next year, here are some of the advantages to the process you’ll be able to enjoy.
You’ll receive more tax benefits

Why wait until 2018 to start a business when you can get a leg up early and open shop this year? If you incorporate before the year ends, you may have to pay franchise taxes. Waiting to get your business up and running at the beginning of next year might feel like it’s pretty far off from now, but it ensures that you will only have to pay taxes for the current year that you’re in business. 

In the meantime, focus on sharpening your business ideas and prepping the groundwork for your startup. Use this time to perfect your elevator pitch, draft up an objective business plan, analyze the market you want to reach, determine what legal structure you want incorporate as, and critically examine your finances including whether or not you’ll need to apply for a loan.
You’ll get to be your own boss

Being your own boss is a much more double-edged sword than non-entrepreneurs may realize. On the one hand, you get to create your own schedule and run the show rather than work for someone else. On the other, you are fully responsible for every decision you make. All of these actions fall on your shoulders, especially if you chose to run your own business without any outside partners. 

As your own boss, you should possess, and be willing to grow and refine, the following characteristics.

Positivity. How do you react to frustrating or disappointing moments? Are you more inclined to throw in the towel and sulk or push through the hurdles and persist? Your entrepreneurial journey will be full of ups and downs, but having a great attitude no matter what the situation looks like will take you much further than negativity.

A can-do attitude. Become a “yes” person and nix saying no, especially when it comes to the customer experience. 

Great communicator. Entrepreneurs communicate with a wide variety of people from partners to employees to customers on a daily basis. Take the time to understand how people like to be communicated with and interact with them accordingly.

Strong work ethic. This is the time for you to roll up your sleeves and have the discipline to get down to business 24/7. 

Risk taker. As Ms. Frizzle on The Magic School Bus would say, take chances, make mistakes, and get messy. Entrepreneurs should be ready and willing to do all of this for when it comes to their business.

A good listener. Listen to the needs of others as much as they listen to you. Be open to constructive feedback, good or bad, and take it to heart as it will allow your business to grow. 
There are more resources than ever before available to help you

For a long time, one of the biggest barriers that kept would-be entrepreneurs from fulfilling their resolutions of starting a small business was a lack of knowledge and assistance. Today, there’s no limit to the amount of available support. Websites like TaskRabbit and Fiverr offer marketplaces where professionals trained in every area from graphic design to social media can provide affordable services to entrepreneurs. Most major cities have accelerator and incubator communities that provide funding and mentorship to ‘treps with big ideas. And there are plenty of apps including Dropbox, Evernote, Square, and Salesforce that make it easy to run your business on the go. 

There’s only one more thing you need in order to start a business in the New Year: passion. You have a new idea that you, and those around you, truly believe in, that excites you and that you are motivated to bring to life. Don’t put it off any further — get your startup in gear at the beginning of the year. After all, New Year, new you, and a new business too!

Deborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @mycorporation.

Thursday, November 30, 2017

Why Immigrants Make Great Entrepreneurs

They’ve often overcome a lot of hardships. A business setback is nothing.
Immigrants being interviewed at New York’s Ellis Island, circa 1940. PHOTO: GENERAL PHOTOGRAPHIC AGENCY/GETTY IMAGEs
Source: https://goo.gl/ExpqLJ

By Adrian FurnhamNov. 26, 2017 10:11 p.m. ET

Outsiders face a tough struggle fitting into a new culture. They must figure out how to deal with, and overcome, frustration, loneliness and a steep learning curve.

And that’s why immigrants make such great entrepreneurs—they’re once again outsiders facing many of the same kinds of obstacles. Been there, done that.

I’ve been studying immigrants for over a decade, trying to figure out what makes so many of them go into business for themselves in the West—at higher rates than natives do—and succeed, too. The Kauffman Foundation’s annual Index of Startup Activity shows that immigrants were almost twice as likely as native-born to start new businesses in the U.S. in 2016. Almost 30% of all new entrepreneurs were immigrants, Kauffman says. A report from the Partnership for a New American Economy found that in 2016, 40.2% of Fortune 500 firms had “at least one founder who either immigrated to the United States or was the child of immigrants.”

I’m not surprised. What I’ve found is that immigrants not only have the qualities that help any entrepreneurs succeed—including aggressiveness and creative thinking—but they get a big boost because many of the skills they picked up coping with a new world are transferable to the entrepreneurial world.

My research is based largely on many conversations with entrepreneurs. In addition, I teach at a university that attracts vast numbers of overseas students. And finally, I bring my own perspective to the research: I am a migrant who grew up in Africa.

One caveat: These are broad stereotypes. Obviously, not all immigrants are entrepreneurial role models. And clearly, plenty of natives are. But there are reasons why so many immigrants forge an entrepreneurial path. It is worth identifying the likely factors—both to help understand the immigrant experience and what they can bring to their new economies, as well as to better identify what makes anybody thrive as an entrepreneur.


Lands of opportunity: The vast majority of migrants (as opposed to refugees) move to improve the economic and educational status of themselves and their families. When they arrive, they are aggressive about taking advantage of the stable economic system and respect for law and order, things they often can’t count on back home. Natives are more likely to take those for granted and not push to make the most of opportunities.

I met three immigrant entrepreneurs recently who had become friends through business. They all said the same thing: They were amazed by the quality of free education, by the benefits of the infrastructure and most of all the lack of awareness by the natives of how lucky they were. As one said, “As long as you are prepared to work hard and take some risks, it is easy to succeed in this country.”

Rolling with punches: All entrepreneurs experience failure and rejection, but outsiders are often better prepared to not be devastated by hard times, because they have already faced harder times than most people can imagine. They’ve left behind friends, family and support networks. Then they enter an unfamiliar nation full of complex bureaucracy, discrimination and other hurdles. Having already faced hardship, immigrants look at business setbacks as less traumatic, leaving them less likely to buckle and break in the face of adversity.



I have met a few entrepreneurs, for instance, who were thrown out of Uganda by Idi Amin. They arrived in cold, indifferent Britain with what they could carry—and used the strength they gained from that disruption to persist in hard times. Coping with difficulties made me, says one of those immigrants, now in charge of a successful business.

They had no capital, and no experience of British law and customs. One, who ran a number of bakeries in Africa, said he had to get a menial job in a local bakery to learn British tastes and preferences. The locals didn’t like bread and cakes as sweet as he expected, and freshness was all important. But he was fine with the setback. He adapted his recipes, started a small bakery and now owns a large chain.

Watching social cues. Because outsiders fear making a faux pas in a new world, they become adept at picking up cues that signal mistrust and misunderstanding. Similarly, they become good at reading people, and noticing the relationships between groups they do business with. That potentially makes them more shrewd and more perceptive in situations such as negotiations or sales pitches.

One entrepreneur told me that he was astonished that everything in markets and shops was openly priced. He came from a culture where everything was negotiated—in his words, the difference between the mall and the bazaar, where people must learn to haggle, charm and persuade. People in his home country needed to observe customers closely to figure out how rich they were, whether they were serious, and whether they knew how to play the game. He believed that skill had served him well when negotiating deals in his adopted country.

A different network: In some sense, immigrants don’t have the array of local networks that natives do. But they often can substitute that broad network with a much deeper network: co-nationals. These earlier migrants are in many ways more supportive of their entrepreneurial successors than the networks that are available to native entrepreneurs. The earlier migrants offer financial support—including loans and discounts on products and services—as well as insights about local practices and people. Networking with this support group gives new immigrants a relatively safe environment to build interpersonal skills as well as learn crucial skills they need.

It also offers them a way to simply survive difficult times, giving them breathing room to become entrepreneurs. Often a whole family shares a large, run down, cold and damp house with three other large families in the same position. They share everything and learn from one another.

Seeing with fresh eyes: Because immigrants learn about their new home culture, and its rules of language and etiquette, from the outside, they often have perspectives that natives don’t have. They see possibilities and opportunities that natives don’t see, and find new ways to be creative. They bring new flavors, musical sounds, cultural tastes to their new land. They also bring new ideas about selling, managing, customer service, technology and more. Confronting a problem with a fresh perspective is a huge advantage. Immigrants come by that naturally.

Dr. Furnham is a professor of psychology at University College London. Email reports@wsj.com.

Appeared in the November 27, 2017, print edition as 'Why Immigrants Make Such Good Entrepreneurs.'


Wednesday, November 22, 2017

Soledad Tanner Biography

BIOGRAPHY

Soledad Tanner is the founder and CEO of Soledad Tanner Consulting, LLC, a Business and Financial Management firm which helps improve profit and productivity of businesses. She has 26 years of extensive international experience in Finance & Controlling, Strategy & Consulting, and Performance & Metrics in the Global Logistics and Banking industries. Her mission is to help businesses find areas of improvement and opportunities to grow profits by taking second-guessing out of the equation and providing clear pathways toward fulfilling their visions. She has strong project management and organizational leadership skills and is effective in communicating complex financial strategies in simple, actionable terms that produce results. She accomplishes these outcomes, with consideration of the affected people and human needs, which reflects her bright personality that in turn inflects her hard numbers with the effectiveness of her ideas behind them.

EXPERIENCE

Tanner was a rising star with Danzas, DHL Global Forwarding and Deutsche Post DHL Supply Chain, beginning as a Controller Houston and SouthWest USA. The company valued her strength as an efficient leader, in conjunction with her excellent people skills and promoted her Controller of Industrial Projects and later Controller of Sales; both positions put her in leadership across the entire USA. The constant in her career path has been creating meaningful analysis, while remaining approachable, which suited her in the role of Director Controller of Human Resources for all the Americas. That position showcased Tanner as a bilingual, multicultural business strategist. She later put her enthusiasm and velocity for change into action by spearheading DHL’s Global HR strategy as Global Director of Strategy, Performance, and Metrics.

ABOUT ME

Tanner is Ecuadorian American with Swiss roots. She serves as Vice President for HGSCA (Houston Guayaquil Sister City Association) and she is a member of the Houston Hispanic Chamber of Commerce. She has lived and worked in Ecuador, USA, Uruguay, UK, India, Germany, and Switzerland and is bilingual, fluent in both English and Spanish. She is a mentor with the Insight Alumni program at St. Thomas University (UST), from which she obtained her Master’s degree in International Business. She also holds a certificate of Leadership and Organizational Leadership from Rice University.







Monday, November 20, 2017

¿Como comenzar un negocio en el 2018? Radio interview # 12, KYST 920 AM con Irasi Jimenez

Do you want to start a new business in 2018? What problem will you be solving? Why will the market buy your product or service? Who are your competitors and what are they doing? How much do you need to start your business? Increase your chances of success!!!! For more information, listen to this interview:

Soledad Tanner Consulting, LLC offers Financial Management and Business Consulting Solutions for companies and professionals. If the financial management of your company gives you headaches, seek help, delegate the experts and increase the chances of success of your business! 

Investing in consulting solutions today is cheaper than failing tomorrow. We offer 26 years of experience in the search for creative and customized solutions for highly complex problems We offer a free 1-hour consultation! Contact us 832-998-2136, Soledad@SoledadTanner.com, www.soledadtanner.com

*******************************************************************************
¿Quieres comenzar un nuevo negocio en 2018? ¿Qué problema resolverás? ¿Por qué el mercado comprará tu producto o servicio? ¿Quiénes son tus competidores y qué están haciendo? ¿Cuánto necesitas para comenzar tu negocio? ¡Aumenta tus posibilidades de éxito! Para más información, escucha esta entrevista: 

Soledad Tanner Consulting, LLC le ofrece el servicio de Administracion financiera y Consultoria de Negocios para empresas y profesionales. Si el manejo financiero de su empresa, le da dolores de cabeza, busque ayuda, delegue a los expertos e incremente las probabilidades de exitos de su negocio! 

Invertir en soluciones de consultoría hoy es más barato que fracasar mañana. Ofrecemos 26 años de experiencia en la búsqueda de soluciones creativas y personalizadas para problemas altamente complejos 

¡Ofrecemos una consulta gratuita de 1 hora! Contáctenos 832-998-2136, Soledad@SoledadTanner.com, www.soledadtanner.com Para mas informacion, escuche esta entrevista:



Created with flickr slideshow.

Friday, November 17, 2017

Productivity Solutions


Financial Management Solutions

Do you want to maximize your profit and minimize your expenses? Our Financial Management Solutions help you to:
  • Organize and analyze your data
  • Evaluate your financial statements
  • Coordinate your budgets
  • Determine your short-term financial goals
  • Develop strategies and plans for the long-term financial goals
  • Decide Key Performance Indicators (KPI’s) and Scorecards
  • Take strategic decisions for improved profit and productivity of your organization.



Tuesday, November 14, 2017

5 Questions to Ask Yourself Before You Start a Business



Written by: Jess Ekstrom •Guest Writer

I adhere to the belief that you don’t have to have everything figured out before you start your business. It’s important to have your mission and your business model, of course. As for the rest, that will evolve over time.

Still, I meet a lot of people who are unsure whether or not to take that first step. Certainly, it can be challenging to do a business "on the side" until it's big enough to sustain itself. But the most effective way to find out if your idea is going to work is to simply go all-in. Otherwise you’ll never truly know.

Here are some questions to help you decide whether or not to go "all-in."
1. What problem am I solving?

Answer this: My product will solve ___________________. If you can’t answer that, stop there and go back to the drawing board. It’s important that your product solve some sort of need because that’s what determines the value.

The book Rework likens entrepreneurship to having an itch and then scratching it. The "itch" is your problem; the scratch is your solution. Kids losing their self-esteem after hair loss through chemotherapy was my particular itch. Headbands of Hope, which provides headbands to kids during treatment, is my scratch.

When you think of solving a problem, you usuallly think of functionality. For example: a coffee mug that keeps your coffee hotter longer. Or luggage that compresses to take up less space. However, a need can also be something less obvious and still have value. For example: The app Offline Media tells you what’s going on in your city, if you live in North Carolina. The need it's filling is getting people "offline" and outside.
2. What funds do I absolutely need to start?

Maybe your dream is to open up a storefront to sell your handmade chocolates. However, that’s a lot of money you'll need up-front to open a store, especially if you haven’t tested the concept. Instead, do whatever you can do in the beginning to use as little in funds as possible to grow organically.

Sell your chocolates at farmers markets, or online if you can. When I started my company, I only had a very limited number of styles for people to choose from. Once I sold those, I used the profits to expand my collection.

Think about what you absolutely need to buy in order to start, not what you’d ideally like to have in the bank. Your number to get started might be smaller than you think.

3. Who else is doing this?

You can’t play the game if you don’t know the players. Do a simple Google test to see who else is out there doing what you're doing. Just because someone else is out there selling chocolates doesn’t mean you can’t sell chocolates, too. However, you need to see what the competition looks like in order to decide if you can offer something better.
4. What’s my ‘special sauce’?

Speaking of differentiating yourself from the competition, determine what your "special sauce" is. According to Shark Tank's Mark Cuban, your special sauce is a quality about your company that stands out from the rest. For example, my headband company donates a headband to a child with cancer for every headband we sell. Our charitable donation is our special sauce because it differentiates us from other headband companies.

Your own special sauce can come from a lot of different areas of your company: where it’s made, the unique quality of the product, how it’s made, competitive pricing, a charitable component or your stellar customer service.

For example, Lawson Hammock's product differs from other hammock companies' because it has a built-in tent on top.

Ask yourself, "What is going to make someone purchase my product over my competitors'?" Your answer is your special sauce and should always be included in your marketing.
5. What resources do I currently have to get started?

Remember in Cast Away when Tom Hanks' character opened all the floating packages and repurposed them for survival? That’s exactly the mentality you need to have when you’re an entrepreneur.

I hear too many people tell me what they don’t have. I’d rather hear what you do have access to and how you plan to utilize it. I started my company when I was in college. Even though I didn’t have any money or experience, I focused on what I did have: professors (closest thing to industry experts) and access to numbers (students).

I worked with different professors to help develop a business plan and create a product and website and everything else I needed to get started. Once I was ready to go, students were my first customers.

So, make a list of everything you have that can help you: people you know, finances, skills and anything else. You’ll be surprised how resourceful you can be even when you feel limited.

Another question I hear people ask themselves before they start a business is, “Is this the right time?” I’m going to save you from asking yourself that because there will never be a time that feels totally right.

But I will tell you that when you want something badly enough, you make time for it no matter what. Starting a business isn’t about the stars aligning and your feeling 100 percent confident. Starting a business is about your passions and excitement outweighing your fears and doubts.

These questions might not give you a clear answer, but when you catch yourself constantly going back to the same idea when you lay your head down on your pillow each night, you know you’re on to something you're passionate about. Sometimes, that’s the only answer you need.

How to Survive Your First Year of Entrepreneurship



Why? To be honest, it is hard. It’s not all glamor and glitz. You don’t rocket to stardom in a few short months, drive a McLaren, date Hollywood celebs and take baths in hundred-dollar bills.

In fact, you’re lucky if you survive at all.

Thankfully, there are some secrets to survival. Entrepreneurs survive by pursuing more than fast cars and lots of cash. Entrepreneurs survive by following these rules.
Keep your eye on the goal.

If you don’t know your goal, don’t have a goal or can’t articulate your goal, stop.

You’re going to give up if you don’t have a goal. What is a good goal?

-Something that you believe in
-A cause bigger than yourself
-Something that benefits humankind
-Something that requires you to keep hustling every day
-Something that is truly attainable
-Something that you can quantify or measure

Write down your goal. Look at it every day. Read it out loud. This is what will keep you going.

Believe in what you’re doing.

You’ve probably heard of guys like Elon Musk who said that they would rather die than not realize their dream. Or maybe you’ve listened to impassioned entrepreneurs speak of working all night, sleeping in their office and eating only fast food because they were so driven to work on their business.

Those aren’t healthy habits, but they certainly display the kind of commitment that an entrepreneur needs to have.

Where does that kind of commitment come from? It’s more than just an insane work ethic. It comes from believing in something with an unshakeable faith. You’re sold on your idea. You know it’s the right thing to do, and you’re going to do it.

If you don’t believe in what you’re doing, you’re going to quit.
Get support.

Most humans need a little love and support along the way. Entrepreneurs are no different. Find a supportive community that pushes you, encourages you, feeds you and tells you that it’s going to work out.
Learn to love risk.

Risk is not going away. You’re going to eat it for breakfast every day. The true risk isn’t deciding to start a business. Anyone can do that. The true risk is taking more and bigger risks every day that you’re actually in business.

It’s not risky to embark upon a dream. It is risky to play with millions of dollars from investors, place people’s jobs and livelihoods on the line, and face legal and financial implications.
Be content with being uncomfortable.

Discomfort is your new status quo. Whether it’s health concerns, mental stress or a raw and jittery drivenness, you are not going to be comfortable very often.

There are no shortcuts or hacks for overcoming the discomfort. It is omnipresent and inescapable. You can, however, become more comfortable with it by knowing that it’s a good sign. The discomfort proves that you’re pressing beyond your comfort zone, making things happen and personally growing.
Live lean.

Entrepreneurs have to live lean before they live large. Many aspiring entrepreneurs have literally been homeless or worked minimum wage jobs before they experienced success.

Chris Gardner had to live on the streets as a single parent before growing his business. Some entrepreneurs challenge other entrepreneurs to live out of their car for at least a year.

Don’t let the anticipation of future rewards fool you into thinking that you can live like a king right now. You can’t. So don’t.
Schedule breaks.

Even the most iron-willed entrepreneurs need to take breaks. Give yourself some space every now and then. Keep the commitment to your breaks, or you’ll experience burnout.

Joe Robinson writes, "Working without letup is a bad habit that can jeopardize business, health and the life you're supposedly working toward. You need to stop, breathe and experience some level of reprieve. Often, the biggest business breakthroughs come when you give yourself some space from the business entirely.''
Eat, sleep and exercise.

If you’re an entrepreneur, you don’t have time to do anything except grind. But you need to make time to eat right, get sufficient sleep and exercise some. These three things are what give you the ability to keep at it.

The moment you drop one of these healthy habits is the moment your productivity nosedives and you don’t work as effectively. Staying fit is the key to staying successful.

It may seem like a waste of time to sleep seven hours a night, eat fresh food, or take a two-mile jog, but these “time wasters” are actually time savers. They give you the stamina, endurance, mental clarity and power that you need to both survive and succeed.

A group of 100 entrepreneurs will dwindle over one year’s time to a group of 10 entrepreneurs. The others will fizzle out. They’re hunting for a job, dreaming up a new plan or back in their old cubicle.

No one ever said that entrepreneurship was easy. No one promised success. No one entered entrepreneurship because it was going to be a cakewalk.

Is it going to be any different for you? Success is attainable. Know what you’re up against, and prepare for survival.

You’ve got this.