Entrepreneurship 02 (Jul 10 - Aug 15)

Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Dec 23, 2014 9:09 pm

"It's the little things that make the big things possible.

Only close attention to the fine details of any operation makes the operation first class."

- J. Willard Marriot
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Fri Dec 26, 2014 7:37 pm

Must Read Strategy Book By Verne Harnish

Speaking of strategy, if you want to create products and services customers want, read Value Proposition Design, this is the latest book by Alexander Osterwalder.

I'm a HUGE fan of his Value Proposition Canvas.

It starts with a very important Clayton Christensen (Harvard Prof) question - "what is the job the customer needs done?"

Then you build your value proposition from there.

Source: ETR
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Sun Dec 28, 2014 2:23 pm

How to Steal and Get Rich

By James Altucher

How do you steal? Try this.

1. Pick a field you are passionate about: whether its blogging, romance novel writing, comedy, internet entrepreneurship, art, cooking, cancer research, etc.

2. Read everything you can about the field. Here's what you have to read minimally: At least the history of that field from 1800 on. Try to read at least 10 different sources on the history; All of the latest blogs in the field. Try to have 100 different sources here; All the basic techniques the current leading experts in the field use. Read all of their biographies or autobiographies.

3. Pick your five favorite sources in the field. For instance, if I wanted to write a novel: I'd pick my five favorite novelists. If I wanted to start a business in "local Internet" I'd pick my five favorite local Internet companies. If I wanted to blog, I'd pick my five favorite bloggers. If I wanted to be a management consultant, I'd steal directly from Peter Drucker, Jim Collins, etc.

4. Get one element that you like from each source. What element do you think stands out that makes them a success.

5. Add your own improvement. Or not. You can even start out with a direct copy and throw in your twist at the end.

6. Ignore all the haters. The more people hate you, the more money you will make. Trust me on that.


http://www.mindpowernews.com/StealAndGetRich.htm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Dec 30, 2014 6:19 pm

Dominate This and Your Business Will Profit

Before Brian Smith, founder of the popular boot company Ugg Australia, could appeal to mainstream consumers, he needed to dominate a niche market, says Emmie Martin of Business Insider.

Because he had originally created the boots to cater to the surf crowd, Smith decided to make Uggs ubiquitous with that small market first.
Once he concentrated on making Uggs the must-have shoe in the surfing community, the brand started to spread outward as friends and family of surfers wanted a pair as well. "I needed to figure out how to send the right message," Smith says.

By starting small and targeting his marketing, Smith was able to create a hot, gotta-have-it product within a niche market. This hype then translated to larger spheres, ultimately turning Ugg into the multimillion-dollar brand we know today.

Source: ETR
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Psychology 02 (Feb 14 - Dec 15)

Postby winston » Thu Jan 01, 2015 8:09 am

Everyone likes to hear their name

When dealing with people, keep this in mind: Every one likes to hear their name.

It doesn't matter what business you are in, you will get more repeat business from the customers that you can call by name.

- Robert Howard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Jan 06, 2015 6:36 pm

5 Step Plan for Making First 100 Sales By Craig Ballantyne

Recently a young reader named Nate Miller asked me to outline the 5-steps for making his first 100 sales online. Here was my advice...

Q: There is so much to do and no one to be accountable to when trying to start an online business. How do you stay on top of everything when it seems so overwhelming. Also, I follow everything from you and Mark Ford. But how do you get a mentor when starting out and you don't have the money to pay for them? - Nate

Answer:
Nate - Keep it simple. It need not be overwhelming.

Step #1 - Figure out the best product you can create that will solve people's problems in the niche market you have chosen.

Step #2 - Figure out who has your customers (are they on a certain site, someone's email list, or specific pages on Facebook?)

Step #3 - Start working your way in front of them.

Step #4 - Create a simple website with great copy that persuades your best customers to buy the product.

Step #5 - Once the site is up, put all of your effort into getting those best customers to your site. It could be writing articles, doing affiliate deals, or buying traffic (start with Google or FB - depending on what is the best way to get in front of them).

The end.

Make some money and then do more of what works and less of what doesn't.

As for accountability, there are 7 billion people on the planet. There is no shortage of people to be accountable to. Find someone.

Source: ETR
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Fri Jan 16, 2015 7:49 pm

5 Secrets to Startup Riches By Mark Ford

Mark’s core methodology for creating successful businesses:


1) Limit Your Preparation:
Before you start your business, make sure you understand what is required in terms of time and money. And understand too how you are going to discover your "optimal selling strategy." Do that but not too much more. Most small businesses fail because they never get started. Ready. Fire. Aim.


2) Be Frugal but Not Foolish:
Spend as close to nothing as you can on all the nonessential aspects of the business such as office space, furniture, business cards, and—most importantly—branding. Use 80% of your cash for discovering the optimal selling strategy.


3) Get Operational Fast:
The longer you spend planning your business, the less likely you are to succeed. That is not always true, but it's still a good rule to live by. Don't feel the need to perfect everything—including the product—before you begin. Your goal is to get operational quickly so that you can figure out how to bring in the cash. Don't be afraid to imitate the marketing strategies and product ideas of other successful companies.

But always be sure to have some element in your business that is uniquely your own. In starting your business, you are in a race: Can you develop sustainable cash flow before your capital disappears?


4) Cash Flow First:

Once cash is coming into your business every day, all other problems are soluble, because cash flow gives you the time to solve them. Cash flow is the oxygen of every small business. Do as the flight attendants advise: Get your own oxygen mask working before you do anything else.


5) You Are the Team:

Don't hire a big team at the outset. One or two partners/employees is more than enough. Keeping salaries low in the beginning has two important benefits. It keeps you alive longer, and it allows the core team to learn every important aspect of making the business successful.

And...

Don't quit your day job until your new business is putting more cash in your pocket than your day job. Be proud to be a "chicken entrepreneur."

Source: ETR
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Jan 20, 2015 8:46 pm

“The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed."

- Henry Ford
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Jan 20, 2015 8:46 pm

“The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed."

- Henry Ford
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Entrepreneurship 02 (Jul 10 - Dec 15)

Postby winston » Tue Feb 03, 2015 10:04 pm

Quote from a Young Female Billionaire By Verne Harnish

Elizabeth Holmes, the 30 year old self-made multi-billionaire was recently interviewed by Forbes magazine on why she dropped out of Stanford.

She shared what all entrepreneurs must have to sustain themselves through the multitude of failures that come with scaling up a company (she has 700 employees herself). Here's my favorite paragraph:

"When people say, 'I want to start a business,'" Theranos founder and CEO Elizabeth Holmes said Wednesday, "my question is always, 'Why?'

Because there's got to be a mission -- there's got to be a reason you're doing it so that no matter how hard it is, you want to keep doing it over and over and over again, because you love it."

Source: ETR
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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