Sunday, March 9, 2008

Intelligence, Information, Invention, Internet

Your intelligence is a combination of what other's have taught you that is right and works for you as well as your inner information that dictates what isn't working for you. If your current employment is affecting your mental or physical health, if you use all your sick days and vacation days just to stay home and breathe, if you spend more time on your computer looking for a way out, all this information is screaming at you that you need a change. You must invent a way out. Invention and not the internet is that way out. You will want to be careful of the internet because it can be both friend and foe. There are no get rich quick schemes, classes or workshops. There are very few internet marketing ideas that are actually lucrative unless you know your specific market and use other area's like bookstores, library's, colleges, mentoring and other avenue's of learning to actually get better at what you already know. You must put all of your efforts into understanding what your passion is, and use invention to fuel it, market promote sale it, and use it to fund your life.

Questions 1. What does your intellect tell you about your current situation? 2. What information do you have to support your findings? Have you discovered your passion yet? If you have what can you invent to contribute your love to it's pursuit? Then go on to Activity A if you HAVE NOT discovered your passion go on to Activity B.

Activity A Step One. List all of your passion/passions I.E. reading, eating etc. Step Two List types of contributions other's have made to these passion. For example people authoring books are making a contribution to their passion of reading, restauranteurs and new food products are the contributions made by people with a passion for eating. Step Three Imagine that you had no obstacles standing in your way and write out what you dream of contributing to your passion

Activity B Did you know that during Prohibition, moonshine makers would practice driving skills with one another in an effort to outrun police chases. This little illegal exercise would go on to become NASCAR and open the door to competitive auto racing, a multi billion dollar industry. Step One. List what you enjoyed seeing, doing, or seeing other's do when you were a child. Make a list of what you did not enjoy seeing, doing, or seeing other's do when you were a child. Step Two. Imagine there are no obstacles in your way and you could invent anything to aid your efforts. For example a child that did not enjoy attending church might invent a get out of church and school machine. Now as odd as this sounds the entrepreneur or investor would scale it down to something more legitimate like inventing a gag gift that represents the machine. Follow up with research on how to get a toy produced and understanding the toy market. This is how you take something you may love or HATE to fuel and fund your life.

Health, Happiness, Harmony, Hunger

Healthy living helps keep distractions down, focus sharp and leaves you free to build your mini empire. Health is defined as good diet, regular exercise, drinking lots of water. If you have a disease or are plagued by pain or discomfort, your time is probably better spend working on wellness. If you are still pushed by the entrepreneurial spirit, identify products or services that would aid in your recovery and that of others. You must be happy with your endeavor or investment in order to feel the passion necessary to pursue and push yourself toward success. When your health and happiness are behind your business or investment you will achieve harmony between the product or service, the customer, and you the creator. You must stay hungry in business, you must stay hungry when creating a product or service, that hunger will carry it from the seeds of an idea, into a working concept, and then into a business plan or investment strategy. The business plan opens the your idea to scrutiny. The investment strategy opens you up for scrutiny and it is more challenging in the education required for the endeavor. The analysis of your plan by potential investors will test your faith as well as your ability to protect and believe in your idea. 

Questions 1. How is your health? 2. If your health is challenged what do you need to do maintain wellness? 3. Are your health problems a result of your current job? 4. Are you happy in your current job? 

Activities 1. Write a short story where you are the main character and the setting is ten years in the future, you have everything you want and have achieved what you worked for. Chart your progress over each year of the ten years being as vivid and detailed as possible

Grind, Growth, Greed, Greatness

The grind is a slang term for the daily devotion, and dedication you must put into your entrepreneurial endeavor. Whether it is one minute or one hour per day you must do something to grow your business. I often tell potential entrepreneurs or investors I counsel that laying in bed with a notebook and a pen scribbling ideas down as you fall asleep, even one word, will water the seeds of your future. Just as the grind will grow your business, greed will kill growth. The desire to consume things that you do not need, things that do not appreciate in value will drain powerful resources that should be used for your endeavor or investment. David Bach (Smart Women Finish Rich) refers to this greed as the latte factor. You must first master control of your current available resources and understand how they work, before you will be able to create other streams of income that grow into greatness.

Questions 1. Identify ways to put the daily grind into your life. List and/or share with others. 2. Identify and list the first five steps you need to get started on your endeavor. 

Activities 1. Put your lists on sticky notes and post in areas of your life where you can find time to focus on them. (i.e. computer screen, bathroom, kitchen sink)

Sunday, March 2, 2008

Forecast, Future, Finance, Failure

The ability to look ahead,  and forecast where prosperity lies, is fueled by knowledge. The entrepreneur must fill their minds with business knowledge, have the wisdom to ask questions,  and research what you don't comprehend and then you will open the door to understanding.

The futures valuable commodities are determined by what you, as a human, consumer, and client of your own product or service deem you will NOT be able to live without. As an entrepreneur you must believe that the product or service you intend to provide is valuable to everyone. This belief will become important as you seek financing to produce your product or service. If the first possible financing or the first fifteen fail, ask yourself is it your product or service? Take careful note of why financing fails and ask yourself , is it worth the effort? Can the product or service be enhanced using the feedback from the failure. When failure can be looked upon as feedback it makes the entrepreneur, the product or service stronger, and the client happier.

Activities
1. Make a list of products or services that you currently use that you cannot live without. 2. Make a list of product or services that currently DO NOT exist that you wish you had. Be creative and even a little daring in your list.

Questions
1. What enhancements would you make on the list of products and services that you currently use? 2. What product or service that DOES NOT currently exist would make the best business venture for you?