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Two Myths That Keep Entrepreneurs from Getting Started

bet on jockeys not horsesThere are two related myths that keep many would-be entrepreneurs from ever getting started:

Hear George & Mary-Lynn debunk these myths on The BIGG Success Show! Click the player to listen.

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It ignores a basic reality – your idea is not nearly as important as your execution of that idea. Being in the “right place at the right time” is great but only if you know what to do with the opportunity.

While our society seems to perpetrate these myths, the professionals know better. Bankers and venture capitalists say they bet on jockeys, not horses.

So think about your idea. But then ask yourself: Can you deliver…

  • hard work smartly?

    It’s the old “1% inspiration, 99% perspiration” thing. Are you willing to do the hard work? Can you prioritize so you’re focusing on your most important tasks? Can you turn sweat into equity?

  • progress daily?

    Results are what you’re really after. But in the earliest stages of a business, you really just need to see progress. Focus on moving forward at least a little bit every day.

  • solutions profitably?

    Thrilling customers by helping them solve a problem is critical. However, you’ll never reach stabilization if you aren’t able to charge enough. You must earn a reasonable return, given your risk, for the time and money you invest.

  • strength flexibly?

    You must be mentally, emotionally and physically tough to be an entrepreneur. You need strength to press on with your strategy in the face of seemingly insurmountable obstacles. At the same time, you must have the strength to admit when there is a better way.

Your idea is important. Today, however, you can test most of them inexpensively. So spend some time fleshing out your idea but then do something with it! You can’t be a BIGG success if you never get in the race.

Do you have an idea but aren’t sure what to do next?

Are you a startup struggling with execution?

Maybe we can help; check out our coaching packages.

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00699-051711.mp3

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Steer Your Way to Bigg Success

steeringHere are two key principles to never forget:

1. You are the entrepreneur of your life; you and only you are in charge of it.

2. If it works for you, it works.

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With these two principles in mind, you can steer your way through good times and bad to get to your destination.

There are natural laws which we can't break without unfavorable consequences. But we also place a lot of "rules" on ourselves. These rules come from many influencers – family, friends, co-workers, Hollywood, advertisers, society at large, and tradition to name a few.

Sometimes we need to follow these rules. Sometimes it pays to break them. Here’s an example:

Fred DeLuca had just graduated from high school. He wanted to go to college and then medical school, but he had a problem. The only jobs that he could get only paid minimum wage. He couldn't make enough to pay for his education.  

So he approached a family friend and asked him for the money to start a restaurant. He got the money and opened the restaurant. It lost money – Fred would have been better off working for minimum wage!

But the young man was not dismayed. He did something that we wouldn't do; maybe you wouldn't either.

He opened a second store nearby!

There was just one problem – it lost money too.

What Fred did next was downright crazy – he opened a third restaurant!

Before long, all three locations were profitable because he could advertise all three with the same budget as just one.

This is the story of how Fred DeLuca started Subway. His tactic – opening more stores in spite of losses – may not work for anyone else. It doesn't matter to Fred; it worked for him.

With the two key principles in mind, here are the action steps to duplicate the success of bigg winners like Fred DeLuca. We’ve put them into an acronym to make them easier to remember: I STEER.

Investigation: Match your talent with a specific market opportunity.

Strategy: Formulate a plan to get started.

Tactics: Break your strategy down into specific actions to be done by a specific time.

Execution: Act upon your tactics.

Evaluation: Review your progress and make any and all necessary adjustments.

Reprise: Repeat these steps in harmony with the knowledge you've gained.

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Thank you so much for sharing some of your time with us today. Please join us next time when we’ll tell you how to feel better right away. Until then, here’s to your bigg success.

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00509-102709.mp3

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Strategies for Becoming More Confident

By Bigg Success Staff
09-11-08

Life Skills

rise_to_the_top 

The difference between those who are successful and those who succeed bigg is confidence. Elite athletes and those who are peak performers in their career have high self-confidence.

Here are some of the techniques they use to be at the top of their game:

Practice Consistently

The only way to be ready to "step up" is to put in the work. When the game is on the line, the Yankees are always happy to see Derek Jeter at the plate. When the pressure is on, Derek shines. Experience, along with countless hours of practice, allows us to master our craft and perform confidently.

Disregard Doubt

If we focus on what we can do, rather than what we cannot do, we can overcome self-doubt. Where is the benefit of worrying about the unknown? Winners push down feelings of doubt, by focusing what they know they can do to finish the task at hand.

Try Harder

If we label a defeat as a "failure", we are telling ourselves we lack ability and count ourselves out. Confident people never admit to defeat or feel defeated. They just try harder to achieve their goal next time. They look for ways to improve their effort through preparation, concentration, skill execution, or other factors.

Play to Win

When we play not to lose, our focus is negative and reactive. When we play to win, we aren't afraid to take chances and take control.

Manage Emotions

When we face adversity without confidence, we tend to get angry, upset, depressed, or pessimistic. When things don't go our way and we are confident, we don't get emotional, we don't give up, and we find a way to overcome the situation.

Success Breeds Confidence

Bring more success your way, by recalling your past successes. Remember your accomplishments and that feeling of success. Remind yourself that you can do it!

Find Success

Confident people recognize their accomplishments on a consistent basis. They set small achievable goals along with bigg ones. They structure success into their daily lives by setting and accomplishing meaningful, attainable goals.

Success Networks

Confident people reach out for help to get to where they want to be. If you want to learn how to do something, find someone who is successfully doing it and learn from them.

Success Talk

Confident people say the words "I can" and "I will".  Their self talk is never doubting and negative, but rather instructional and motivational.

Look Successful

Act confident to feel confident, even if things aren't going your way. Confident people always stand up straight, walk with a bounce in their step, and keep a smile on their face. Acting confident helps you feel confident which makes you look confident. 

*Improve your self-confidence by identifying your abilities and positive attributes. Complete the Finding Your Self-Confidence worksheet.

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