Tag Archives: Entrepreneurs

Business Baby Steps vs Quantum Leap

As entrepreneurs, wouldn’t it be great if we could simply create a business, put an OPEN sign on the door or post a website and instantly make millions of dollars overnight?  I know there are rare examples where it may have actually occurred.  Unfortunately, it is atypical to become an instant millionaire unless you win the lotto.

 

Sometimes we are so anxious to achieve that “quantum leap” when it comes to earning money.  We want to become instant millionaires, get rich quick and live in a NOW and EASY world!  Even our food is instantly cooked in a microwave oven.  We survive on fast food.  We rush here and there.  Our time gets stretched thin as we attempt to multi-task.  As fast as we win a new client, we lose an old client because there is not enough time to give full service.  As we run around in circles what do we really gain?  Sometimes get so busy attempting to take that Quantum Leap that we result with maximum stress and minimum income.  Wouldn’t you be happier if you could produce the alternative, which is to minimize stress and maximize income!

 

The portrayed concept is that Haste Makes Waste.  How do you benefit by rushing to achieve an exorbitantly high level of stress?  Even if you do succeed with expanding your business rapidly, there may be a challenge of growing too fast and simultaneously maintaining financial stability.  Conversely, there is a concept of becoming so overwhelmed that no significant progress is made to expand your business.  You must choose a healthy pace that works for you!

 

Taking Baby Steps is sometimes the healthiest way to initially build your business and develop momentum.  Do not underestimate the power of taking business baby steps.  Just imaging how a baby covers territory by first crawling slowly, second crawling fast, third attempting to walk with a stumble, fourth walking, fifth running and stumbling.  Finally, that baby has reached its “terrible two’s” and is running away from you!  Can you keep up with that two year old baby?  That baby will cover a lot of territory as it runs while the adult gets exhausted.  The correlation that I’m making is that as you DILIGENTLY TAKE BABY STEPS with your business, you may cover a significant amount of territory as you expand.  Similar to the adult parent getting exhausted, your diligent business progress may irritate your competition, or at least they may notice that you exist.  Additionally, these baby steps could create a solid foundation for your business.  For example, start with learning to make a small profit, such as $100.  Then, duplicate your efforts with baby steps to achieve a $1,000 profit.  Continue in this fashion to produce a $10,000 profit, and so on.  Eventually, your business structures may become sufficient enough to successfully take that Quantum Leap!

 

Ultimately, you make the decision of your pace.  Do you select the Quantum Leap method to expand your business?  Or, would diligently taking Business Baby Steps be the healthiest way to grow?  By the way, if you are searching for a new business concept, visit www.receivingincome.com.

Fired! From Your Own Company!

Steve Jobs was let go from Apple years ago before he came back and made it the powerhouse it is today. And now Groupon's Andrew Mason was just fired from the company he started 4 1/2 years ago. Read all about it here... CEO Gone From Groupon

What about you? Should you be fired from your company?

Most entrepreneurs and small business owners are their own bosses and get away with well... basically anything and everything.

If you're the boss, how often have you assesed your own performance? Think about it, would you want to hire you as your own employee or fire yourself? Do you have the systems and procedures in place to track your performance or will you "get to it later"?

While it seems natural for a successful corporate employee to succeed in their own business, that's usually not the case. It's one thing to have someone to report to, deadlines, project plans, and a boss to keep an eye on you. It's another to have to do all that yourself AND work your business.

If you want to increase your chances of succeeding as an Entrepreneur and making it on your own, make sure you have a few things in place.

First, remember the saying, "Fail to plan, plan to fail." If you don't make plans on how to succeed, that's tantamount to planning on failure.

Best selling author Steven Covey wrote the 7 Steps to Highly Successful People. In this world reknown book, one of the seven habits is to "Begin With The End In Mind".

This means that you should know what your goals are. You should know what you want to accomplish and when. Have that vision of success. This will help you put your plan together properly if you know where you want to go and when you want to get there.

The next "Put First Things First". Steven talks about prioritizing and organizing. You have to know what you're doing and when.

A good concept to remember is DMO or Daily Method of Operation. In other words, what are the things that you need to do every single day? For example, when you're putting your schedule together, are you scheduling in follow-up calls to potential clients. When are you doing them? If you plan on making calls 3 days a week from 4 - 5 pm, then that's got to be in your calendar. So you know that every Monday, Wednesday, and Friday you're making follow-up calls. What else do you have to do on a daily basis? Do you have that written down in your calendar?

When you have a plan with a calendar and you know your daily method of operation or DMO, you chances of success just increased significantly.

Here's the catch though... it's not enough to just plan it and know it. You actually have to do it! Massive Action is the greatest factor in success. Correction... Massive CONSISTENT Action is the greatest factor.

Once you have your plan of action and a DMO outline, then you can track to see how you're doing.

If you're not doing so hot, then maybe it's time to fire yourself - or at least take drastic measures to ensure improvement.

Remember, if you want to succeed in business, you have to treat your business like a business - not like a hobby.

So give yourself an assessment and ask yourself, "would I hire myself this week or fire myself?"

The answer may surprise you.

It Pays… Persistence That Is!

Once upon a time, there was a novice entrepreneur named Rich Now.  He worked as an employee during the day and ran his small business during the evening hours.  Being tired of his day job, he guessed that he would immediately become a millionaire with his small business.  The more he thought about his business, the more excited he became.  Everyday after working his job, he would go home to work his business.  He obtained a list of prospects and sent out 50 emails about his business products everyday.  And, each person would purchase $1,000 worth of his products and services.  Yes, all 50 people would give him business.  Numerically, that totals $50,000 per day.  After 30 days of working his business, Rich earned $1,500,000.  Rich Now lived happily ever after….

 

As you may have guessed, the above story is fictitious.  Although, sometimes we, entrepreneurs, are tempted to give up or get frustrated when our business does not make the revenue that we expect.  Many entrepreneurs anticipate that things will succeed a lot better than the real world, similar to the above story about Rich Now.  We jump into a business thinking everything will be wonderful, similar to the wedding day of a marriage.  Just imagine getting married to the most beautiful and perfect spouse.  You think of living happily ever after, until you encounter reality.  Even the most successful billionaires have personal stories that include plenty of challenges that they endured in order achieve their abundance of wealth.

 

Similar to a marriage, a business requires PERSISTENCE in the real world.  And, persistence pays.  Unlike the story about Rich Now, it may require sending multiple emails to prospects prior to earning the first sale.  You may want to be consistent and send a couple of emails to your prospect list every month.  Keep in mind that one of the reasons that large corporations are successful is because they are PERSISTENT and consistent.  And, it may be easier for them because they pay employees to persistently do the work for them every single day.  As a small business owner, it may be a little challenging to be persistent with running your business because you have less people to manage the business as compared to a large corporation.

 

In summary, persistence is part of the formula of running a successful business.  And, you must avoid dwelling on stories similar to Rich Now, which is totally fictitious.  As entrepreneurs, one of our goals is to determine what pays.  Overall, the real world confirms that persistence pays!

 

For entrepreneurs who are searching for another business to practice getting paid via persistence, visit www.receivingincome.com.

Teen Entrepreneurs: Part One

Watch the first segment in this series about teens who started their own businesses.
Video Rating: 5 / 5

►►► Free Newsletter: the21convention.com ►►► Facebook: www.facebook.com ►►► Subscribe on Youtube: bit.ly About Matthew Hussey: Declared the "Anthony Robbins of the 21st century" by 21 Convention architect Anthony Dream Johnson, Matthew's rise to success as a speaker and a coach has been meteoric. From beginning as a one to one coach working with people in coffee shops, he now runs programmes across the globe for people looking to take every area of their lives to the next level. With packed out seminar rooms from London to New York, he is a rising star in the speaking world and is gaining international status as a life strategist — transforming the lives of individuals of all ages, from every walk of life. Matthew has created two major coaching companies that cater to customers from all across the world. The first, www.matthewhussey.com started as Matthew's very own passion project. This has been built into a world-renowned service for peak performance coaching where he now has the full backing of a whole team of experts. His creations include specialist programmes on confidence, impact, and full life transformation retreats held in 5 star locations globally. Here clients spend 6 days in luxury villas in exotic locations where they have their own private chef and are coached by Matthew personally the entire time. Recent retreats have included Nice and Florida. His larger seminars take place anywhere from London to packed out rooms in New York's Times Square ...

Goal Setting That Works!

Tuesday, December 20, 2011 6:30 pm (Registration And Open Networking) In Schaumburg!

ACTION-STRATEGY WORKSHOP

(CHARITY SOCIAL & HOLIDAY CELEBRATION)

Don’t let “daily trivia” waste your life away. TAKE CONTROL and cut through like a laser-beam! We're going to BREAK IT DOWN into mini-sessions:

* Mission
* Vision
* Goal Setting
* Prioritizing
* Planning
* To-Do Lists
* Accountability and Partnering
* Vision Board Networking

 

Alfred Campanelli YMCA
300 W Wise Rd
Schaumburg, IL 60193

http://chicagoentrepreneur1220-com.eventbrite.com

$15 at the door or get in FREE because Every non-perishable food item worth $2 off (Not to exceed $15)

You MUST register on eventbrite in order to qualify for discount.

Bring as many items as you can though cause every bit helps those in need!