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Casual Articles - Think & Grow Rich - A Concept Every Entrepreneur Should Know
Are you doing business overseas and your supplier has asked you for a letter of credit? Do you own a distributor, wholesaler or re-seller and have a large purchase order where you need a letter of credit to pay your suppliers?As the number of national and international transactions grows, so does the number of suppliers that are asking to be paid with a letter of credit. A letter of credit is a financial instrument that serves two purposes. It ensures that your suppliers get paid (that’s why they ask for them). It also ensures that you get the goods you bargained for – otherwise the suppliers will not get paid. It protects both of you.Letters of credit come in
One of the vital aspects of investing and building your business is adequately protecting what you have worked so hard to build. One of the ways to do this is through proper use of corporations to own both your businesses and your investments. Owning investments in stocks and bonds with corporations can be somewhat tricky so in this article I will be talking about investing in real estate.Consider the following example: you have worked hard over the last several years and your business is starting to take off. You have made the wise decision of forming an LLC, or Limited Liability Company, to own your business. Lets call it Big Biz, LLC. After taking distributio
The Eight Requirements for Success
1. All you need is one sound idea. 2. A burning desire for its achievement. 3. Belief in your product or service. 4. Faith in yourself & your associates. 5. Specialized knowledge. 6. An organized plan of action. 7. A decision to act with persistence. 8. Organized financial capital.
Let’s briefly cover them one at a time:
SOUND IDEA-If you have a sound idea you can be successful. Everything ever created by mankind came from a single thought or idea. Thoughts are electrical activity that can energize you and others and a sound idea will draw people to you. The key: Your idea MUST be sound to succeed and if it is sound, investors and investment money will flow to you. If it is not sound, it will fail.
BURNING DESIRE-This is not normal desire. This is a red-hot fire of desire for your business idea, product or service… for success. You must have a desire that is extraordinary, one that is greater then 95% of society because only about 5% of society is truly financially successful. The other 95% of the population simply follow the followers, get jobs and do the normal things. People who have burning desire do extraordinary things. The key: You must live, dream and burn for success.
BELIEF-You must believe, and truly believe in your product or service so much that your are willing to do whatever it takes to turn it into reality. You must be willing to make a commitment to that belief. Key: If you do not truly believe in your product or service you will not get others to believe in you or your idea either. If your idea is not sound, you will not truly believe in it.
FAITH-You must have faith in yourself, your associates and a higher power. If you do not have faith in yourself you will not succeed. If you do not have faith in your associates, your business will not succeed. If you do not have faith in a higher power to help guide you it will be extremely difficult, if not impossible, to succeed. Key: You must have faith in self.
SPECIALIZED KNOWLEDGE-You must have special knowledge or skill related to your idea in order to succeed. If you are a jack of all trades and a master of none, you won’t achieve great success. You can acquire specialized knowledge by learning and most information is available at your public library. In order to succeed in business you must also have information, which allows you to have a deep perspective in business. You must generally understand business management, marketing, advertising, sales, accounting and law so that you can make intelligent decisions about surrounding yourself with the right people with the specialized knowledge you don’t have to overcome and bridge your areas of weakness. You must form a mastermind group who’s collective thinking and performance capacity
Your imagination is a powerful tool that you should leverage in mapping out your future. As previously discussed, your mind does not differentiate between what is real and what is imagined. There are three ways you can use your imagination as you begin your program of continuous improvement.1) Consciously shaping your daily activities to move you closer toward your goals. 2) Making changes in your environment that will influence you – on conscious and unconscious levels – to focus on your goals. 3) Behaving as though you have already achieved your goals.While fear embedded in the unconscious mind can sabotage our success, the reverse is also tr
Let’s briefly cover them one at a time:
SOUND IDEA-If you have a sound idea you can be successful. Everything ever created by mankind came from a single thought or idea. Thoughts are electrical activity that can energize you and others and a sound idea will draw people to you. The key: Your idea MUST be sound to succeed and if it is sound, investors and investment money will flow to you. If it is not sound, it will fail.
BURNING DESIRE-This is not normal desire. This is a red-hot fire of desire for your business idea, product or service… for success. You must have a desire that is extraordinary, one that is greater then 95% of society because only about 5% of society is truly financially successful. The other 95% of the population simply follow the followers, get jobs and do the normal things. People who have burning desire do extraordinary things. The key: You must live, dream and burn for success.
BELIEF-You must believe, and truly believe in your product or service so much that your are willing to do whatever it takes to turn it into reality. You must be willing to make a commitment to that belief. Key: If you do not truly believe in your product or service you will not get others to believe in you or your idea either. If your idea is not sound, you will not truly believe in it.
FAITH-You must have faith in yourself, your associates and a higher power. If you do not have faith in yourself you will not succeed. If you do not have faith in your associates, your business will not succeed. If you do not have faith in a higher power to help guide you it will be extremely difficult, if not impossible, to succeed. Key: You must have faith in self.
SPECIALIZED KNOWLEDGE-You must have special knowledge or skill related to your idea in order to succeed. If you are a jack of all trades and a master of none, you won’t achieve great success. You can acquire specialized knowledge by learning and most information is available at your public library. In order to succeed in business you must also have information, which allows you to have a deep perspective in business. You must generally understand business management, marketing, advertising, sales, accounting and law so that you can make intelligent decisions about surrounding yourself with the right people with the specialized knowledge you don’t have to overcome and bridge your areas of weakness. You must form a mastermind group who’s collective thinking and performance capacity
Here today, I am going to share about how Business has evolved.In summary, what you will read today will be on how trade began from the time people start to exchange, to buying and selling. Brick-and-Mortar Business will be the next phase which business will go though and finally, Internet Business.As you all know, business began a long time ago. It all began with the simplest form of buying and selling – Trade.Trade mainly involves 2 or more people and the exchange of something for something. It can be in a form of service, product or money.However, we don’t normally call that “Business”, as it is much too small an activity to consider one yet.
BELIEF-You must believe, and truly believe in your product or service so much that your are willing to do whatever it takes to turn it into reality. You must be willing to make a commitment to that belief. Key: If you do not truly believe in your product or service you will not get others to believe in you or your idea either. If your idea is not sound, you will not truly believe in it.
FAITH-You must have faith in yourself, your associates and a higher power. If you do not have faith in yourself you will not succeed. If you do not have faith in your associates, your business will not succeed. If you do not have faith in a higher power to help guide you it will be extremely difficult, if not impossible, to succeed. Key: You must have faith in self.
SPECIALIZED KNOWLEDGE-You must have special knowledge or skill related to your idea in order to succeed. If you are a jack of all trades and a master of none, you won’t achieve great success. You can acquire specialized knowledge by learning and most information is available at your public library. In order to succeed in business you must also have information, which allows you to have a deep perspective in business. You must generally understand business management, marketing, advertising, sales, accounting and law so that you can make intelligent decisions about surrounding yourself with the right people with the specialized knowledge you don’t have to overcome and bridge your areas of weakness. You must form a mastermind group who’s collective thinking and performance capacity
Getting a job after several years of schooling gives some anxious moments to everyone!It is a time when you are on your own and want to lead your life your own way without any strings attached...There are three major aspects in life:1. Childhood2. Adult life3. Old ageThere are however some transition periods like there is teenage between childhood and adult life in which period you develop your strengths - physical and mental. You play games and study for a job or a career. Depending on the profession you choose or plan you choose the area of education. Nehru said, " Education is what one forgets what one has learnt at school". It d
FAITH-You must have faith in yourself, your associates and a higher power. If you do not have faith in yourself you will not succeed. If you do not have faith in your associates, your business will not succeed. If you do not have faith in a higher power to help guide you it will be extremely difficult, if not impossible, to succeed. Key: You must have faith in self.
SPECIALIZED KNOWLEDGE-You must have special knowledge or skill related to your idea in order to succeed. If you are a jack of all trades and a master of none, you won’t achieve great success. You can acquire specialized knowledge by learning and most information is available at your public library. In order to succeed in business you must also have information, which allows you to have a deep perspective in business. You must generally understand business management, marketing, advertising, sales, accounting and law so that you can make intelligent decisions about surrounding yourself with the right people with the specialized knowledge you don’t have to overcome and bridge your areas of weakness. You must form a mastermind group who’s collective thinking and performance capacity
I’m an expert on change and leadership, but my most popular speaking topic this past year, and the one I’m already getting the most requests for in 2006, is “Creative Collaboration.” This is because my corporate clients around the world (two of next year’s programs are scheduled for the UK and Belgium) are realizing that successful organizational transformation is increasing dependent on employee engagement – which, in return, is increasingly linked to employee participation in the change process.It takes a village – or at least a workforce. Over the past 23 years, I’ve worked with a variety of very talented leaders, and one thing I know for sure: As ta
DECISION & PERSISTENCE-You must make a decision to act and go forward at any cost and back that decision with persistence that will not recognize defeat. Quitters never win and winners never quit. Wishing and hoping while important will not make you successful.
ORGANIZED PLAN-You cannot succeed without an organized business plan any more than you could get to the moon without a plan. You must have a business plan that conveys your thoughts and ideas to investors in a way that is acceptable to the business world or you will not get investment capital from investors (.) Your business plan is the road map from where you are now to where you are going. It is your vision for the future.
ORGANIZED FINANCIAL CAPITAL-You must have access to organized financial capital backing your idea to achieve success. You will not recruit investors to invest into your idea or business unless you have and organized business plan. Without financial capital, your idea will never get to market and will end up in the stockpile of broken dreams. ..
On a personal note:
Success has rules. If you try and circumvent those rules or play the game your own way you will most probably fail. If you are lazy and not willing to do the things required for success then success will have no part of you. Why? Because success requires an extraordinary price to be paid by those that want it. Success will break the spine of the weak that are not willing to implement the steps required to achieve it. Now is the time you should carefully reflect on the exact price that you are willing to pay for success and the question is simple: Do you have what it takes? If the answer is no, go get a job.
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Copyright © 2006 James W. Hart, IV All Rights reserved
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