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Just gimme a little more time! |
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In This Issue:
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Issue 372 -- September 04, 2007
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Welcome! And what's =
new...
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3. But I Need Money to Sta=
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1. Just gimme a little mo=
re time!
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4. Humor -- The Comm=
on Geek
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2. 48 Days Online R=
adio
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In the movie Collateral, there is an interesting scen=
e in the first few moments. The taxi-cab driver, played by Jaime Foxx, is m=
aking conversation and tells Tom Cruise=92s character: "I'm not in this for=
the long haul. This is just filling in - I'm putting some things together =
- I'm going to open my own limo service." Cruise asks him, "How long you be=
en doing this?" To which the taxi driver replies, "Twelve years."
This is a classic example of how "life happens." I once saw a client who ha=
d taken a temporary job at a bank. He knew that wasn't where he wanted to b=
e; it was just a fill-in job for a month or two while he did his real job s=
earch. That was 14 years ago. Life just happened; he got used to where he w=
as and didn't take enough initiative to move on to a higher level of succes=
s.
Here is a step-by-step process for change:
1. Clarify your current situation.
a. I have been in the same job for 12 years with no change in s=
ight.
b. I detest the sameness and monotony of my current job.
2. Seek the advice and opinion of other people.
a. Ask 4-5 trusted friends or professionals what they would do i=
f in your situation.
3. Identify the alternatives.
a. I could go back to school and get a degree in education
b. I could create a clear focus and do a job search with a compa=
ny with some advancement potential
c. I could start my own chauffeuring service
d. I could request a manager=92s position with this company
4. Choose the best one.
a. I will start my own chauffeuring service
5. ACT.
a. I will create my business plan in the next 30 days, give my t=
wo-week notice 15 days after that, aggressively plan to purchase my own veh=
icle by that time and be open for business 60 days from now.
Whether it's choosing a new school, a new place to live, a new car, or a re=
tirement center for a parent, you must keep a clear deadline in view - or p=
rocrastination will lead to indecision.
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This week Joanne and I are in New York City =96 but things a=
re in motion for resuming the 48 Days Online Radio Show. Aft=
er expressing my recent frustrations with the technology problems and my th=
reats to going back to being Amish I was deluged with not only sympathetic =
responses but also with solid solutions.
Special thanks to these members of our 48 Days family who sent me detailed =
solutions:
Jon Tucker, Bear Sunderland, Mike Mitchell, David Stevenson, David Vellanow=
eth, Craig Stahl, Shaun Farrell, Blake Thompson, Mike Shell, Robert Fava, a=
nd Matt Aaron took the time to outline specific answers to my frustrations.=
There were many offers of help =96 and the components for professionalizing=
this little part of our business will be installed this week. Again, I do=
n=92t know why I get stressed =96 the years of building relationships mean =
that with any challenge I can simply ask anything =96 and receive help will=
ingly.
I trust you are in a position where you are similarly blessed!
Beginning next week we'll be starting the regular online radio show -- with=
live question submission -- at 10:00 AM CDT on Wednesdays. Watch for deta=
ils on how you can be a part of that as we continue to grow and learn. =
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I get 8-10 requests per week from people needing start-up mo=
ney. And yes, capital is more difficult to get now than even 2 years ago. =
With the mortgage scare banks are being much more cautious about all kinds =
of loans. So, does that mean it=92s impossible to launch a great idea? Abs=
olutely not!!
According to the most recent Bureau of Census data, these are the figures f=
or money needed for new businesses:
- 1% needed $1,000,000 or more
- 14% needed $25,000 -- $999,999
- 34% needed less than $5,000
- 26% did not require any money at all!
This shows us that 69% of all new businesses need less than $10,000 to get =
started. 70% of the people on the street say they would like to start their=
own business. Why don=92t they?
I once worked with a gentleman who wanted to have his own antique business =
but had no money. We were able to get an option on a lease for a warehouse =
with no money in advance. He then divided the space into 74 spaces which he=
leased to vendors, collecting first and last month=92s rent. With that mon=
ey in hand, he finalized the lease, did $20,000 in improvements, kept 3 spa=
ces for his own merchandise, collected 10% commission on everyone=92s sales=
and launched himself into a very positive cash flow from day one.
Another guy bought an orange grove, using the existing oranges on the trees=
as his down payment. Another purchased an old estate house, contracting to=
sell the antique furniture as his down payment. Several years ago I bought=
a house on a Saturday morning, gave the owner $3000, took over the loan, d=
id some cosmetic improvements, put it back on the market and sold it within=
48 hours of putting a sign in the front yard for a $21,000 profit.
Many ideas today that use service, information, or technology, are not capi=
tal intensive. They don=92t require buildings, employees, and inventory. I=
f you think you need to raise $1 million to start your business =96 think a=
gain in new ways. Many businesses that do require lots of capital are old-=
style businesses =96 very traditional bricks and mortar businesses with lit=
tle leverage and upside potential. Look for ideas that can be started with=
little or no capital, have clear systems that allow duplication, and have =
the potential to make enormous amounts of money.
Friend and client Lee Lentz loved doing magic tricks. He was thrilled seeing people=92s responses t=
o the unexpected. But how do you get paid for doing little card tricks? T=
oday, Lee and Vanessa stay extremely busy at $15,000 per day doing innovati=
ve product introductions at conventions.
What is your area of expertise that you could position as an income-produci=
ng business?
Incidentally, fear of failure is a larger obstacle than not having any mone=
y.
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