ther hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already pasBarriers to Entry… it sounds like a big term but it’s not so tough to understand. Every business will have a certain degree of difficulty during the start up and growth phase. Some businesses will require a special education to get into and others may require both a special education and a lot of money. It is generally thought and I believe it to be generally accurate that the higher the barrier to entry, the more potential to profit big and conversely the more potential to lose big. This is exactly why for example in the lawn maintenance industry it is often harder to earn a high income than it would be in that of golf course development. The lawn maintenance industry requires very little start up capital (cash) and no formal education whatsoever. Because of this more people can get into the business therefore increasing competition and driving down profits. Golf course development on the other hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already passo get into and others may require both a special education and a lot of money. It is generally thought and I believe it to be generally accurate that the higher the barrier to entry, the more potential to profit big and conversely the more potential to lose big. This is exactly why for example in the lawn maintenance industry it is often harder to earn a high income than it would be in that of golf course development. The lawn maintenance industry requires very little start up capital (cash) and no formal education whatsoever. Because of this more people can get into the business therefore increasing competition and driving down profits. Golf course development on the other hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already pasrsely the more potential to lose big. This is exactly why for example in the lawn maintenance industry it is often harder to earn a high income than it would be in that of golf course development. The lawn maintenance industry requires very little start up capital (cash) and no formal education whatsoever. Because of this more people can get into the business therefore increasing competition and driving down profits. Golf course development on the other hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already pasrequires very little start up capital (cash) and no formal education whatsoever. Because of this more people can get into the business therefore increasing competition and driving down profits. Golf course development on the other hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already pasther hand requires years of education, credibility, contacts and certainly loads of or access to, loads of money. This is one reason why you hear the term the rich get richer. It is because in large part, they have already passed the barriers to entry. They have money and contacts certainly two of the biggest hurdles to starting a business or making a profit. They have power and influence because they have this money. So for the rich, they often don’t even have to risk a lot of money. They can make some calls to see what need there might be for a certain business and if it is worth doing, only then do they have to risk buying equipment to get started. They often play calculated low risk games. Interestingly this is also why it is important to think like the wealthy. They play at another level. You can too, you just have to start on a smaller ball field and work your way up.

Barriers to entry include but are not limited to: time (to incubate and grow a business), money, contacts and education. Ultimately these barriers are moot though if the entrepreneur doesn't posses the secret solution to success. Do you kn