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The Man Who Turned a Part-Time Job into a Billion Dollar Business

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Today we have an amazing story about a guy who started out just looking for some extra income with a part-time job but ended up turning it into a billion dollar business.

Click the player to listen to this episode of The BIGG Success Show Podcast. Below is a summary of our discussion.

Jim McCann started out as a social worker, which didn’t pay so well. So, in the early 1970s, he got a part-time job in a floral shop to earn a little extra money. In 1976, he took the plunge and started his own flower business.

Let’s go to The Professor’s Whiteboard as we break down 5 lessons learned from the part-timer who built a billion dollar business.

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6 secrets to a long and happy life

6 Secrets to a Long and Happy Life

6 secrets to a long and happy life

On a list of 6 things a famous billionaire says are the secrets to a long and happy life, only 1 of them has do with money.

We discussed these 6 secrets to a long and happy life on The BIGG Success Show. Here’s a summary of that discussion.

Charlie Munger is best known as Warren Buffett’s right hand man. He’s the vice chairman of Berkshire Hathaway. He’s very successful and at age 95, is worth $1.7 billion.

When asked recently by CNBC’s Becky Quick what he thinks are the secrets to a long and happy life, he provided the following:

“You don’t have a lot of envy.
“You don’t have a lot of resentment.
“You don’t overspend your income.
“You stay cheerful in spite of your troubles.
“You deal with reliable people.
“And you do what you’re supposed to do.

Here are some ways to put Munger’s secrets to work in your life.

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Are You Ready to be an Entrepreneur

business_timingAre entrepreneurs born or made? That was the question posed in a great article we saw in The Tennessean not long ago. The author concludes that entrepreneurs are born from experiences.

We agree. Entrepreneurs are not born. They are created from life experiences.

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Here in the U.S., we’re fortunate that our culture fosters entrepreneurship – probably more today than in generations past. It used to be that entrepreneurs were considered renegades. They were the people nobody would hire so they didn’t have a choice.

Now entrepreneurship is a lifestyle option that even the most qualified people make. So what motivates people to strike out on their own?

Career events

Franchisors often see a spike in demand in an area where layoffs are happening. Sometimes we don’t come to entrepreneurship; it comes to us.

It may be career frustration. Many people start their own business because they’re bored with their current occupation. Perhaps they feel like they’ve topped out. They’ve gone as far as they can in their current career so they decide to start something of their own.

Personal motives

Art Williams, the football coach who became a billionaire by building his own insurance business, said he was just “sick and tired of being sick and tired.”

W. Clement Stone, who built an insurance dynasty in the depths of The Great Depression, cites inspirational dissatisfaction as the source for many great achievements.

How do you know you’re ready to start?

Entrepreneuring is a process. Like any process, there has to be a starting point.

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georgeThe desire to be my own boss just consumed me. I had this feeling in my gut that I just couldn’t get rid of. I couldn’t stand not owning my own business. This desire just ate me up and spit me out every single day that I wasn’t in business for myself.

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marylynnFor me, it didn’t seem that the opportunities I needed in my corporate career were there any longer. I just couldn’t get where I wanted to be if I didn’t strike out on my own. It was a very, very difficult decision. It was incredibly emotional. But looking at my industry now, I’m glad I jumped into entrepreneurship when I did. r?

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The battle between two fears

We think it comes down to fear. The general population has an overwhelming fear of failure.

Entrepreneurs have a fear of not trying. They just have to know what would happen if they just tested their bigg idea.

You’re ready to be an entrepreneur when your fear of not trying overcomes your fear of failure.

You reach a point where inaction or delay is just not acceptable any longer. You have to go for it. You have to take your shot at bigg success!

How did you know you were ready to strike out on your own?

Share that with us by leaving a comment below, e-mailing us at bigginfo@biggsuccess.com or calling us at 877.988.BIGG(2444).

Thank you so much for reading our post today.

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Please join us next time when we’ll discuss the trap that keeps people from striking out on their own. Until then, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00480-091409.mp3

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Strapped for Cash?

money-in-handA recent trend report from TrendWatching highlighted the increasing number of people who are supplementing their income with a part-time business. This report is full of resources that will help you find your opportunity for some spare cash.

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It’s no wonder that so many people are jumping on this bandwagon. We’ve seen increases in our health insurance, our property taxes, and more. It sounds like there’s more to come.

The three-income family

Isn’t it interesting, though, that just a few generations ago, most families got by on one income? Then we added a second one in the household with more and more women joining the workforce.

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marylynnI don’t think it was purely a financial decision. It was also about fulfillment for many women, but it certainly helped the family’s income.

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Now a number of people can’t get by on two incomes. They need three or maybe more. If you find yourself in this position, it may be good to ask if all the obligations are really worth it.

Is that life on your own terms – being weighted down by the cost of things you thought you wanted? With careful analysis, you may realize they’re not so important – especially if you find you can’t enjoy life because you’re working so much.

So if you feeling that you need a third income, it might pay to look at your obligations to see if there are areas where you can cut. Spending time finding ways to reduce your obligations might get you further faster than spending that same time trying to make some extra money.

This new trend is about something more important than income.

Many of us now realize more than ever how much we want to be in charge of our own lives. The TrendWatching report mentions that people fantasize about being their own boss, even if it’s just for a few hours a week.

Bigg success is life on your own terms. You’re the entrepreneur of your life whether or not you’re an entrepreneur in the traditional sense.

Some people want to be the boss all the time. According to this new report, that trend is still alive and well. But more and more people are finding ways to be the boss at least part of the time.

They have the security of a full-time job along with the freedom that being in charge gives you part of the time. Freedom with security … what a great combination!

When you find fulfilling ways to make extra money in your spare time, you’re getting synergy working in the five elements of bigg success. If you make the right moves with that extra money, you can accelerate your journey to bigg success, to life on your own terms.

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Would you like more tips and tools to live your life on your own terms?
Subscribe to the Bigg Success Weekly – it’s FREE!

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Turning $3 into a multi-billion dollar business

One way that people are making extra money is by selling their expertise. Another way is by selling, or renting, assets. One clever example of this is ParkingSpots.com, which helps people rent their extra off-street parking spaces.

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georgeI heard Michael Krasny tell his story of the founding of what became CDW. Most of us have probably done business with them. They do a great job. Back in 1982, Michael had a used computer he wanted to sell. The Chicago Sun Times was running a special on classified ads – 3 lines for 3 days for $3. He ran an ad and his phone started ringing off the hook. He realized he had a business here. He was right – within about ten years, the business he started from that classified ad became a Fortune 500 company. Michael Krasny became a multi-billionaire, recognized on the Forbes 400 as one of the richest people in the world! Now that’s bigg success!

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You never know … your idea for making a little extra money may turn into the next Fortune 500 company!

What do you do for extra money?

Share that with all of us by leaving a comment below. You never know … you might earn a little spare cash!

Thank you so much for reading our post today.

Do you think you don’t have enough spare time to make any spare cash? Please join us next time to see how one group people found the time.

Until then, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00366-040609.mp3

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Are You a Victim of Your Own Success?

stress You’ve made it! You’ve arrived! You’ve reached that next level of success! You’ve achieved your dream!

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But you’re swamped. Now, you have a seemingly endless list of things-to-do. And it all just keeps coming. Minute after minute, day after day, week after week. It’s sheer chaos.

You find yourself busier than ever. You’re more successful than ever. But are you happier than ever?

It seems that you’re a victim of your own success – too much to do, too many clients, too many constituents. So what can you do about it?

Congratulate yourself

Take a deep breath and a little pause. Enjoy it for a bit!

Get away from it all for a day

We know … you’re too busy. But here’s the thing – you’re too busy not to get away because, on your day away, you’re going to contemplate. What’s most important? What’s least important?

After you’ve thought about those two things:

Hire an assistant, outsource, partner, joint venture … you get the idea

Delegate – in some way, shape or form – those things that aren’t most important.

You might be asking, “Can I afford to hire someone?” But you’re asking the wrong question. The question really is, “Can I afford not to?”

Because the most important things – the people who are most important for you to spend time with, the projects that only you can and should do – will get pushed aside by the less important things if you don’t take this step.

Set the expectations for the people in your life

You need to establish boundaries for all your people. You may set certain times when you’re available to employees, vendors, and even customers. We think customers can’t be trained, but even they can. 

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georgeIn one of my early businesses, my second biggest customer was constantly calling with demands for immediate service. Finally, I presented them with an option – they could work within our time frame for the price we negotiated or I could offer them quicker turnaround for a higher price. They chose the better price!

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Finding your model

Now you’re only working on the most important things and you’ve communicated your boundaries to the most important people in your life. You’re ready to do those things you do in the most efficient way possible.

So let’s look for a model. Think about a manufacturer’s assembly line with products coming down it. What are your products?

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marylynnFor us, it is shows to produce. Articles to write. E-mails to return. People to reach out to. Products to create. Services to deliver.

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Your production cycle may flow over an hour, a day, a week, or a month. Think about all of the important things you do – that’s your product – and engineer your processes to move that product down the line in the most efficient manner possible.

Engineer your processes

What is the best way to do it? Think about it logically. Step back and look at it again. Walk yourself through the whole process, step-by-step as it exists today. Now, start looking for ways to save little bits of time.

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georgeOne of the guest speakers for my class became a billionaire by turning his little business into a Fortune 500 company. One of his secrets was finding ways to get more done with the same people. For example, they discovered a way to change how they labeled packages for shipment. It saved them 55 seconds. That’s time they could spend on something else!

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So if you find yourself a victim of your own success, start with effectiveness – make sure you’re doing the right things. Then work on efficiency – doing those things the right way.

Doing the right things the right way … before you know it, you’ll be an even bigger success without being victimized by it!

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Get the tips and tools you need to be a BIGG success!
Subscribe to the Bigg Success Weekly – it’s FREE!

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Next time, we ask, “Are you afraid of success?” Until then, here’s to your bigg success!

 

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