Mood:
Topic: Entrepreneurs
There are two mentalities in America today.
One is the forty year plan. Put five dollars a day in the bank, work hard for someone else, and in 42 years you'll be a millionaire.
Let's talk about that plan first. If you remember every week to put $35.00 in the bank, after 42 years, if you haven't taken anything out of the bank, and you put it in every week, you'll be a millionaire and you will have worked 42 years to get where you want to be financially, IF you only want to have a million in the bank.
But how many folks actually have $5.00 a day to put in the bank?
The other one is start your own business. In America, starting a successful business is the surest, most controllable path available to you for making a million dollars in less than 42 years.
Let's assume you have figured out what you want to do, have the skills you need, and a plan to start your own business.
An entrepreneur starts a successful business. He has a plan and sticks to his plan, knowing that if he follows his plan, he will be successful. The point is to generate money, more than just enough to support the business (which would include your salary), this includes operating at a profit.
Passive business operation would be the kind of business that is actually operated by other people, and you simply injoy the fruits of running your own business in the way of profits. Having a business means that you understand there are risks, and there is no guarantee that you will make a profit.
Active business operation means that you are actively involved in the day to day operation of the business. Either kind of business requires an investment of your time and money on a grand scale, the second requires that you actually be part of the business all the time.
There are three very important steps to being in business:
1. Be there. Build a plan, actively become involved in following your business plan, and follow your plan.
2. Have a goal. Write down your goal, read it every day, do something everyday that will take you closer to your goal.
3. Do it everyday. You have your plan, you are there everyday, you have a goal, and you are doing something to bring you closer to your goal, now DO IT EVERY DAY.
It takes 100 no's to get a yes. Law of averages says if you get 100 no's you will get a yes. It takes 3 - 7 contacts to get a yes. So out of every 300 forms of contact you will get one yes. If you only do one contact a day - you'll get one yes every year and a whole lot of no's. YOU have to do whatever you do every day and do it more than once a day to succeed.
Let's get going.
Posted by wahmco
at 9:35 PM EDT