Entrepreneurs: Prepare for Tax and Cost Tsunami
Team Altman Important Small Business News:
Entrepreneurs: Will be Forced to do Much More with Much Less if the U.S. Congress has Its Way
Global Entrepreneurs and Small Businesses will feel the huge impact from new sweeping taxes, fees and other various costs the U.S. Congress wants to impose on the backbone of the Global Economy, and as U.S. Entrepreneurs and Small Businesses bear the brunt of the costs, the ultimate impact will have far reaching effects that could potentially change the future face of the global economies as much of the
investment capital now located in the U.S. will be forced to move to other more friendly markets, and even more importantly, the entrepreneurial and technological talent that refuses to “do more with less” in the U.S. market, will move along with the capital to the more business friendly markets in the Global Economy as part of their entrepreneurial strategies. It is important for everyone to understand that the economic impact will be felt by all households in the economy as the increased costs to business are passed on to all consumers in the market, and the most amazing fact not many taxpayers are aware of is that the increased taxes and costs go into effect immediately, while the services won’t be available for over three years. How many people do you know that will pay for a service today and wait three years while continuing to pay, before they can use the service?
Understanding Global Entrepreneurial Strategies
It is an indisputable fact that Entrepreneurs make up the backbone of the global economy, and they will be the ones who bring the economy out of any global recession, so when examining Entrepreneurs and their natural inherent strategies it must be noted that some are purely deliberate, and some strategies purely evolve with changes in the market, and of course, the real world inevitably involves some well thought out planning ahead, as well as the ability of timely adaptation to change along the way.
Entrepreneurial innovation has never been part of the institutionalized systems, and of large corporations, as these systems have never been able to reproduce the thoughts and passions of “Genius Entrepreneurs,” or even the most ordinary and competent
Entrepreneurial Strategist, and in almost all cases they never will be able to, because large corporate systems and institutionalized processes aren’t designed to encourage the creative and innovative thinking that comes from the vision and passions of true Entrepreneurs.
So when we look at the requirements of entrepreneurship, we know that good entrepreneurial management is part of the formula alongside real entrepreneurial strategies, and the strategies for entrepreneurial success are surprisingly few and simple, but yet difficult to develop and master, since it takes true entrepreneurial insight and vision to identify the real market opportunities which present themselves, especially during times of recession, which is the time for Entrepreneurs to do what they do best.
Recognition of global market trends and conditions that create new opportunities is a strong trait that identifies successful Global Entrepreneurs, along with additional traits of Entrepreneurs that include innovativeness and creativity, the willingness to take risks for their new ideas and innovations, the ability to anticipate future needs and problems, willingness to work independently with self-direction, and a strong sense of competitiveness that comes from the passion inherent to the Entrepreneurial Spirit.
At the very heart of entrepreneurship is innovation, which is the effort to create purposeful, focused change in economic or social potential, which includes three kinds of innovation. The first kind of innovation is “technological innovation,” which is innovation including new products, ideas, and technologies. The next kind of innovation is “economic innovation,” which includes entrepreneurship and the execution of turning those things into new businesses and industries. Finally, cultural and social innovations, which include the ability to envision, develop and invent new ways of thinking, new art forms, new designs and concepts that identifies trends in the marketplace, and fully develops associated opportunities.
These different identifiable components of innovation can share the same thought processes of the Entrepreneur as they reinforce each other and overlap, and many times the genius of the Entrepreneur is noticed and identified because they are able to apply all three kinds of innovation at the same time to the same problem or opportunity.
The Global Entrepreneur Nation will eventually spur economic recovery, but timing of the recovery is dependent upon what kind of problems or barriers Entrepreneurs encounter with governmental systems and institutions, and regulations and taxes, that ultimately affect how quickly they can adapt their innovations to the marketplace.
Mastering the Markets: Entrepreneurial Strategies for Success
Global Entrepreneurs who have owned and operated their business for very long have learned to appreciate the impact the global economy can have on their businesses, even at a local level that seems to be in relatively good shape in comparison to other niche markets.
The track economies take always goes up in good times and then comes down in more challenging market conditions, and then back up, riding the optimism of good times followed by the pessimism of shrinking markets, and back up again, leaving the entrepreneur with greater challenges to successfully adjust operations during economic downturns.
The first thing global entrepreneurs need to do to master their markets is grow emotional skin thick enough to not only keep from feeling sorry when the economy slows, but also not to get too excited when the economies are performing at a high level.
A realization and understanding has to be developed and reached the ebb and flow of economic conditions of the markets, as they are going to do what the markets are going to normally do, and of course there is very little that anyone can do to change the natural occurrence of economic cycles, although governments try, but too many times they only succeed in exacerbating the negative portion of the cycles.
Once Entrepreneurs gain control of their emotions it becomes easier to focus on the process of operating the business in the most efficient way in relation to economic conditions. Also, when focus and clear thinking is developed, the easier it is to maintain focus and the more creative one becomes and the more success Entrepreneurs experience in making the right strategic decisions, especially when there is some level of discomfort.
The focused mind set of the Entrepreneur always looks for ways they can use poorly performing economies to their advantage, making “lemonade out of the lemons” they have been handed, and they succeed through innovation which is what the true Entrepreneur is best known for.
Not only are customers, products and services thought of differently, but promotional strategies are viewed with an emphasis on regular adaptation and modification based on challenging market conditions, or “lemons” the world has thrown at the Entrepreneur.
It is critically important to keep in mind that when the global economy improves, the fruits of innovative mindset thinking remain in the form of new ideas and concepts within the business, and the Entrepreneur has developed and put together a bigger bag of new market strategies, systems and processes that ultimately pay great dividends during both growing economies and recessions.
Global Entrepreneurs collectively with the other millions of small business owners throughout the world are the global economy’s backbone and ultimate solution to moving it towards any economic turnaround, whether locally, nationally or globally. Together, the collective entrepreneurial mind set of small business moves from pessimism to optimism, and as people become more optimistic they in turn spend money, and jobs are created.
The best advice to remember is to “think globally and act locally”, take the “lemons and make lemonade”, and always be part of the solution as the markets grow and recede, and economic struggles are fought, won and lost, and people go back and forth between optimism and pessimism.
Unexpected events and tragedies will always have an effect on the economy, but how the Entrepreneur looks at their business, reacts to challenges and develops innovations will determine ultimate survival and the level of success achieved, which is why any of us make the choice to become Entrepreneurs in the first place.



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