10 years ago if you wanted to launch a business or even to test an idea you had to rent an office, furnish and create the IT infrastructure for it, spend a lot of dough as startup costs, and all that jazz.
Now you can create a funnel, put a team in a coworking space, plug the laptops in space’s IT infrastructure and bang, you can start something. The power of the internet has caused the transaction costs to become smaller and smaller, as time goes by. So, in theory, it is easier than ever to start a project but most of the beginner entrepreneurs are lured in the idea to raise funds and make money and are not focused on creating real, lasting value. And here is their biggest seatback.
What’s the biggest mistake that entrepreneurs are making? Many companies are just using the internet and technology to slash costs and they do everything possible to outsource as much possible. They focus on cutting the costs instead of using the internet and the tech facilities at hand today to actually create much better products. And this trend is helped by the gooroos promoting via books, courses, webinars, and seminars the mindset that you can just use the internet, don’t work at all, or maybe just a little bit, outsource everything and lay low on a sunny beach. The whole value building idea is somehow out of the equation. And this is wrong and it is bad both for the business, the customers and all other stakeholders.
Continue reading “The Quick Shortcut To Become Wealthy”
Yesterday I watched a webinar presented by Kerwin Rae about the top 7 challenges on the road to wealth. Kerwin Rae is a businessman, coach, mentor, entrepreneur, author and international speaker. As one of the world’s leading business commentators and strategists for over a decade, he has coached thousands of consultants in numerous countries on business development, marketing, sales, human behaviour and entrepreneurial psychology.
As these principles are faced in one way or the other by most of achievers worldwide, I thought that it was a good idea to share them here.
Just before that a quote heard also yesterday during the webinar: “Mindsets play strange tricks on us. We see things the way our minds have instructed our eyes to see” Muhammad Yunus.
So the top 7 challenges on the road to wealth are:
1. Focus – really one of the biggest challenges is to focus on what is important, ignore shiny objects and the usual distractions;
2. Motivation – why you do what you do? what is your drive to do, achieve and grow;
3. Clarity – if your vision is not clear don’t expect that the outcomes to be like that. It can happen, but don’t be sure about this;
4. Plan – you know, failing to plan means planning to fail – no more comments here;
5. Strategy – you need to follow a proven strategy to win the game;
6. Tactics – you can have the best strategy in the world but the tactics are the movements which will make things happen – you can call this the leg work;
7. Feeling like giving up – this is a big challenge when you feel like giving up just that the only way is straight forward.
Continue reading “The top 7 challenges on the road to wealth”