$$$

I always talk about how important it is to be so positive that it borders to not being realistic. Being too realistic sometimes limits your possibilities and we all know that the great geniuses of all times were known to be crazy and unrealistic… until they proved the opposite. Just look at Edison and Einstein. People thought they had simply lost their minds, however, it seems like that is exactly what you need: this touch of madness to be able to accomplish what most people haven’t done before you. 

And you know what? The wonderful news is that very few people dare to think unrealistically grand, making it easier for us who dare to do so to actually reach the top. Very, very few people are willing to even dare to think like a true pioneer. When this is said there is something that you need to be deadly REALISTIC about, and that is $$$.

You need to know how much money you need to be able to start trading and how much money you need to put away for unexpected crises or downfall in the market. You can never get enough $$$, that’s for sure.

Here are some posts that normally are certain expenses for any company:

-          Insurances

-           Licences and Permits

-           Marketing

-           Legal

-           Financial *Accountants, Financial advisor etc.

Then again don’t limit yourself because you don’t have the money. Its not like you are expected to have $ 100 000 from the day you start your research.   

As an entrepreneur you need to be willing to take risks, be creative and see the loopholes. Just OPEN YOUR EYES.  Sometimes that means testing your product/service before you actually start trading without all the permits and licences you are required.

This is often an important part of building your business plan, which you most likely will need when presenting your idea for potential investors. Taking risks doesn’t mean that you should do it blindfolded. Calculate the risks carefully before you try and test.

Don’t forget all the free help out there. There are so many people out there willing to help you. I have experienced so many positive people contacting me through my blog: lawyers, accountants, marketing advisors and so on offering free help and advice.

I’ve noticed that a lot of successful people are also very generous people. They love helping others and they love to see other people succeed.  So stick to these people and welcome all financial advices you can get, even if they are a bit off. You’ll learn what is right and what is wrong if you consult with enough people with the right experience in your field.

Killer

I don’t know if you have noticed it, but every other of my blog is motivational blogs, while the rest are how you actually build your business. The reason why I have structured it this way is because I think motivation and keeping that vision alive in your mind is just as important as building your business. A business without a vision is a house without walls.

I have met so many people who run their businesses with no drive. It’s so obvious they have forgotten why they even started that business in the first place.

It really frustrates me to look at companies I know could have done so much better if they had taken advantage of the situation, but because they have forgotten what they stand for and they are satisfied with good and not great they are unable to reach the goals they first set.

As a kid we learned in school that the most important thing was to participate and not win. Well, I had a dad that surely didn’t agree, so I was thought that the most important thing was to win.

As I work as a teacher part-time during the day I know that this psychology might not be healthy for kids, but I also know that if you play to win you will do your very best. I don’t see the purpose in doing anything if I’m not going to give it all. I’ve learned from experience that doing things 50% is a waste of time, and time is expensive.

The most important thing my dad thought me was not just to play to win but to keep winning.  He used to say ¨Its when you are tired that you should push a little bit more¨. This is also known as the killer-instinct. It’s easy to do well ones, but it’s hard to stay at the top and get up after defeat time after time. Cause you will fall; again and again, but that’s also the time to learn how to rise. Sometimes it can be very hard to get up on your feet again, not just because your sales number dropped significantly the last 6 months, but as a matter of fact it is often your closest friends and family who have the power to really make it hard for you to get up. They are the ones who really have the power to make you feel worthless.

Another thing my dad used to say which has helped me a lot is something that Will Smith says in the movie ¨The Pursuit of Happiness¨; he used to say ¨Don’t ever let anyone tell you that you cant do something. Not even me¨.  It is so important to protect your dreams and your vision. Your family and friends probably don't want to make it difficult for you, but and they probably don't have any idea how much pressure lays on your shoulder from time to time, and honestly this is just something you will have to live with. They can hurt you because you love them, not because they want to hurt you. The only way to avoid getting affected is to protect your dream and just know that that is the reason. Your family and friends will hurt you as long as you live, so just get over it. 

I can’t even tell in words how important this is to be aware of  ¨the fall and rise¨ (I know.. the expression is called the ¨rise and fall¨, but Ive changed it into the right order to how it should be).   

If you are not aware of this, and you don’t understand that the process of growing more powerful and staying in control actually involves defeat and learning how to get up I swear you are so going to stay on the ground!

You need to get up and kill it, again and again. That’s why keeping that vision alive is so important. I try to repeat the vision for my company at least ones a day in addition to my daily mantra, which is:

¨Everything I start I complete with brilliance¨.

So don’t be a killer, STAY a killer and you’ll see everything will go your way, cause the truth is there is not that many killers out there…

A good business plan is a good plan!

If you have read some of my blog you know that I think it is crucial to dear to think grand to be able to succeed in a fierce marketplace. Additionally you have to be motivated for more than just the $$$$, you have to be fearless, you have to be able to separate good advice from noise (don’t let anyone bring you down…or your sales down) and you have to be extremely hungry for success. By that I mean SUPERHUNGRY. Sometimes this means pushing limits until there are no limits and doing what other ¨normal people¨ consider crazy. Try to take away one of those things I mention and you are pretty much screwed one way or another. But there is one more thing you need (and a thousand more…lol) and that is a business plan.

First of all a business plan is pretty much what it says it is; a plan for the business. It can be deadly for your business not to have one. A business plan should evaluate all aspects of the economic viability of your company. The business plan should also include an analysis and description of your business prospects. It is in fact the business plan you will be showing to potential investors and banks for financing. The business plan is a very useful selling tool and a great way to remind yourself where you are headed, how and when.

The easiest way to implement a business plan is to keep it simple, specific, realistic and complete. If you make it too complicated you might end up not using it to check if you are heading in the right direction compared to the goals you set 6 months ago, and you might lose an investor over nothing. You see…the investors never really invest in the business but in YOU. They want to know how you are, if they can trust you and if you are a winner or not.

The business plan is not just for potential investors and banks, but it is for you and your employees as well. Planning is a process, not just a plan. DON’T FORGET THAT. The business plan should be the companies Bible. Amen.

Producing the business plan can be very time-consuming because you need to get the right facts regarding market statistics, financing and target market so that you don’t lead your company into a ditch. Not having all these facts right is like walking around blindfolded, which is just stupid! Why would you walk around blindfolded if you can see whats in front of you?

Based on the statistics and facts you need to analyze using tools such as the PEST (political economical social technological factors) analysis or the SWOT  (strengths weakness opportunities threats) analysis to understand your data and information gathered. There are a million other tools to choose from for  analyzing information, but you should at least include the SWOT.

A business plan is not something that is done in a week, so be patient and start digging for information. Go undercover if you have to. Call your competitor and pretend that you are a costumer, or better; book a meeting! Don’t be afraid that they will reveal your purposes, so what? Be creative.

Here is a website I found that has a lot of good stuff regarding the business plan.

http://www.myownbusiness.org/s2/#3

Good luck!