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Archive for the ‘Small Business Success Tips’ Category

What To Do When…

By: Dan Kennedy on: January 11th, 2011 2 Comments

I could write 100 pages rather than 1 about my many reactions to what happened when New Orleans was hit by the big hurricane. I quickly made a number of predictions, many of which it would have been nice to be wrong about.

We could talk about man’s inhumanity to man, ‘Lord Of The Flies’, or that the U.S., in many ways, in many places, is now a Third World country in the making.

We could just focus on the stories of heroism and sacrifice. I would like to acknowledge that many of my peers, my clients, our Members, people I’ve had influence with over the years, are enormously generous, decisive, quick acting individuals, and that many leapt to lend assistance not just by opening their own wallets but by using their influence with their customers and others, in different ways, to raise and administer large sums of money in a hurry.

Jeff Paul, Ken McCarthy were active almost instantly. There were many, many others too numerous to give recognition to who also volunteered their time, used their own money, and organized and motivated and, in some cases, incentivized many others to chip in. I congratulate every one who took iniative here.

Stepping away from it emotionally, it provides an opportunity to make two points that may have some value. The first has to do with the human, nearly universal folly of unpreparedness, of thinking disaster only befalls others, of outright denial — evidenced, for example, by building and re-building homes or high-rises or, for that matter, entire cities on top of known earthquake fault lines, adjacent to giant volcanoes, in ‘hurricane alley.’
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The Difference of All Differences

By: Dan Kennedy on: January 10th, 2011 2 Comments

In Friday’s post, I showed you the difference between gross and net. I also provided you with yet another weatth building secret – Pay Yourself First.

In this post I am going to share with you another contrast . One that I believe is the difference of all differences.

I intend writing at much, much greater length about this sometime, somewhere, but here it is in nutshell; the difference of all differences: fear vs. courage.

Every business, financial or personal decision made from fear turns out badly. Usually, all the unintended, unexpected, unseen evolving consequences prove far worse than the thing that was feared in the first place. (I’m not talking about healthy and essential paranoia as a strategic planning device. I’m talking about fear. )

Of course, not ever decision made from courage turns out well. Were it that simple! But the list of decisions from courage turning out well is a world longer than the list of decisions from fear turning out well. If you like playing the odds, you think and act courageously.

A lot of little things that add up…little hinges that swing big doors, open or closed….come from fear or courage. Price, for one. Terms, another. Cutting troublesome or nominally profitable accounts, customers or clients to make room for better business or keeping them in the way. Firing. Now, discretion can be the better part of valor, particularly in terms of timing.
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Gross vs Net

By: Dan Kennedy on: January 7th, 2011 6 Comments

I read an authoritative article about a very, very famous “personal finance guru”, who grossed over $40-million in her business, but had less than $4-million left for herself. If I did $40-mill and kept only 10% of it, I’d shoot myself.

Another “guru” I know reportedly grossed twice that much, yet I happen to know for fact he had zero net, and is in hock up to his eyeballs.

Even Dr Atkins dove into Chapter 11 bankruptcy. I can only guess that lawsuits, settlements, infighting between the head doc and Dr. Atkins’ surviving family, all contributed. Still, there are millions of dollars of licensing fees and royalties flowing in; how can there be none left?

I work. But I stopped working for free a long, long time ago. I insist on profit, AND on gains in net worth/wealth as well, and I track and measure both constantly. I’m big on keeping score. I’m also very cognizant that big is rarely better, unless running a company up for sale or a public offering. At a certain point, dollars of gross added on cost proportionately more, and there’s less and less net with more and more gross.
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Are You A Whiner?

By: Dan Kennedy on: January 6th, 2011 1 Comment

Yesterday,  I told you about the importance of guarantees and how you should be using them to increase your business.

Now I would like to turn our conversation to the topic of whining and complaining versus the feeling of being thankful for you have . It is so important that I would tell you it is a real wealth secret.

The once heard a player from the great Celtics team that won championships 11 of 13 years, The Bill Russell era, asked what motivated those players to fight and claw into and through the playoffs year after year, he answered ‘Money” and explained that, then, most players weren’t making much and the bonus money paid for advancing through the playoffs was of gigantic importance.

Juxtapose this against a conversation I had with a relatively young guy, brought into a particular business by one of the info-marketing gurus I work with. The young guy, following that system, had made over $50,000.00 in 2 months, from 3 transactions. “It’s a lot harder and more complicated than says it is.” he complained.

I’ve got news for ya. It’s supposed to be.

Yes, we all strive to stretch the Work-Money Link. To work smarter, not harder. To use tools and technology and media in place of manual labor. But anything carried out to a ridiculous and wholly unreasonable extreme is unhealthy. And if you intend being in the top 1% or even 5% earning brackets, intend getting wealthy in under 50 years, intend taking a generous amount of time off, well, you ought to expect to also out-work 95% of the Mediocre Majority.

To do difficult, challenging, complex things, administer complex processes, and operate unaffected by the emotional problems that cripple most, such as lack of resiliency, or discipline. Easy/Hard is relative. I know people who do hard work and work hard. None are my clients. Grow up.

With this guy’s qualifications, were it not for this opportunity, he’d likely be wearing a paper hat and asking whether or not we want to super-size our order. He should be on his knees twice a day, wildly grateful he found this guru, found this opportunity, and is making the incredible money he’s making with a whopping 120 days of experience.

Just for the record, the average doctor or lawyer never sees $250,000.00 a year, after 8 years of college, a pile of student loans and a decade in practice. (By the way, I’m okay personally with being taken for granted. I charge sufficiently for the privilege. But don’t take the incredible opportunities and knowledge and skills that you have been able to access for granted. Very few people on the planet ever get to know or do what you do.)

Now, a “wealth secret”. What you constantly complain to the universe about will be taken away from you. What you frequently express gratitude for, you’ve got a shot at keeping. Your subconscious hears either the whining and complaining or the gratitude as an instruction. If it hears it a lot, it goes to work on it. When you whine and bitch about how hard the work is, it hears: “Get me out of this.” And it will.

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Don’t Envy Me…Join Me

By: Dan Kennedy on: December 17th, 2010 1 Comment

Yesterday, I discussed the key ingredient that all successful entrepreneurs have in common. Now let ’s talk about jealousy and envy and how you can instantly beat it instead of being beaten by it.

I’ve actually lost track of the number of people I’ve led into information marketing. Over half of all the Gold/VIP Members are involved, many as second businesses in addition to their core businesses, others full-time.

The info-business is a wonderful way to make a living, and often I find myself in conversations with people green with envy over how much money we info-marketers make, with few, even zero employees, complete mobility, totally flexible hours, and so on.

Sometimes this happens at seminars; somebody sees $500,000.00, even $1,000,000.00 in registrations and product sales and says “You know, I have to work like a damned dog for 3 years to make what you guys just took in here, in 2 days.”
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Have You Got It?

By: Dan Kennedy on: December 16th, 2010 5 Comments

Let’s talk about some personal traits of the most successful entrepreneurs and business owners.

Paul Newman is an inspiration. It’s my hope to age as he did. He was on Leno, while in L.A. for the Long Beach Grand Prix. At age 80, driving professionally in races. At age 78 or 79 , he did the 1,000 mile Baha endurance race in souped up dune buggy. Man, would I like to be able to function like that at 80.

On Leno’s show, the two raced little go-karts around a Grand Prix-ish course backstage. Newman was out there walking the course, checking out the cars, working on winning before the show. When the green flag moved, he zoomed past Jay to take the lead and never let up, trouncing Jay by a commanding distance.

In his book, talking about his food business, he says that, somewhat to his surprise, he really enjoys kicking competitors’ butts.

This is a guy for whom competing and winning is very important. At 80. With not one damned thing he needs to prove to anybody.
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His Last Words Were…

By: Dan Kennedy on: December 10th, 2010 4 Comments

In my last post I discussed the issue of price and knowing what your time and expertise are worth. Now let’s move on and talk about the courage you need to charge the prices you deserve for your time and expertise.

What did Dan Rather say when he ended a long, long career at the CBS News anchor desk? First I say Good riddance. Hose off the trailer, tie up the dogs cuz company’s coming. Huh?

Anyway, Rather signed off looking direct into the camera and saying: “Courage.”

Dan has a very liberal, negative, fearful view of life in America and feels we all need a lot of courage just to face each day. If you would like a better substitute affirmation to write on your mirror in lipstick, I would suggest choosing from “joy”, “gratitude”, “optimism”, “faith”, “expectation”, or “money, opportunity, power and achievement.”

Anyway, in business, you do need courage. Especially if you are to set your own price, dictate the way you do business, reject clients who don’t fit, shape your business life to your will. You can manufacture such courage completely inside out, from self-image strengthening per Psycho-Cybernetics, with exciting and credible plans, with knowledge, with competence.

But that ain’t easy. That’s made a whole lot easier when you tip the scale of supply-demand way, way, way in your favor. That brings our kind of advertising, marketing, publicity, positioning and sales strategies together with the most desireable outcome: desired financial success combined with autonomy.

In short, courage comes from deal flow.

When you create and attract a lot more demand for you or your services or products than there is supply or that you need to achieve your objectives, you naturally become emboldened.

You have heard me talk a lot about ‘creating a success environment.’ But I may have been a bit negligent in being this precise and specific, in explaining that a big part of that is: creating an emboldening environment.

In harness racing, if you have a horse that has had several tough races in a row and gotten beat up, and is now heading to the starting gate with expectation of more of the same, he will give in easily, underperform. If you can get him a class drop, a race against lesser competition, and he starts going past them even while underperforming, he is emboldened.

If he wins, you can move him back up in class and he’ll win there too. If you are in the sulky behind a tiring horse but you are lucky enough to have the horse inside you, next to you tiring even more, literally backing up, yours becomes emboldened and finds some new resevoir of energy.

Courage rises due to the environment.

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Remembering Your Childhood Dreams

By: Brian Horn on: December 2nd, 2010 15 Comments

I want to take a break from my usual internet marketing post, and share something I learned on a trip to Australia this week (was down there speaking at a event for small business owners).

On the flight over, I read the book “The Last Lecture” by Randy Pauch. I had seen the video a few years back when it became one of the most watched YouTube videos ever, but never read the book.

Anyway, I brought up the book when I was talking to several of the other speakers and organizers.  To my surprise, I was the only one that had ever even heard of it (it has over 12 MILLION views, so I erroneously thought everyone had seen it).

So here it is for all of you that missed this for some reason.

Be warned, it is a long video (70 minutes) and there is no way you will be able to make it to the end without tearing up.  But it is a great story about living out your dreams.  As entrepreneurs we have an even stronger  core desire to do what it takes to live our dreams than most people…so I felt it was especially appropriate for Dan’s blog.

Enjoy it, and give you family extra hugs this holiday season.

On a side note…one of my childhood dreams was to travel across Australia.  Now it looks like I will be going on a multiple city tour all over Australia this spring speaking to entrepreneurs.  Childhood dreams do come true.

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What It Takes To Succeed

By: Bill Glazer on: November 30th, 2010 4 Comments

I wanted to take this opportunity to write about a subject that I often get asked about…… what it takes to be a successful entrepreneur.

My father retuned from World War II and almost immediately opened up his own small menswear store. The evidence indicates he took to the task naturally, with true entrepreneurial drive. He was one of the best salesmen I ever saw and would think nothing about working thirteen hour days, six days a week in order to insure the success of his business.

In studying my father and other successful entrepreneurs, I have made the observation that a commonality that they all have is the feeling of being their own boss and the fact that their future is in their own control.

Entrepreneurs come in every shape, size, gender, and socioeconomic background. Some, like my father, were entrepreneurs from the first day they opened their businesses. Others became entrepreneurs out of necessity. For instance, I know of HUGELY successful entrepreneurs who got fired from jobs. Downsizing in corporate America has created armies of new entrepreneurs.

Now here is an interesting twist to being able to being a successful entrepreneur. You also need to be able to recognize and accept failure. I’m told Babe Ruth struck out 1330 times, but he’s best remembered for hitting 714 home runs. So, in spite of missteps, entrepreneurs are a very special breed who do not give up on the larger goal.

Do You Want An Easy Prescription To Become A Successful Entrepreneur?

I’ll bet you do!!! We’ll if you want to know one of the real secrets to becoming a successful entrepreneur, this is a BIGEEEEEE… Seeing & Seizing Opportunity Before Someone Else Does

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The Disney Effect…Do You Have It?

By: Dan Kennedy on: November 22nd, 2010 6 Comments

I am a frequent visitor to Disney, and I love going with a bunch of kids.

Disney never fails to astound and amaze. On my last visit, I took note of something I had not crystallized thought about before. It occurred to me one night, leaving the Magic Kingdom after a parade. Probably 50,000 people elbow to elbow, butt to butt, walking very slowly along toward the exit.

Unlike being in a comparable crowd exiting a sporting event, business convention hall or anywhere else, hardly any pushing, shoving. Civility, politeness. Graciously letting people move in front. Care taken not to bump strollers, kids. Everybody pleasant. I saw this throughout my visit . People holding doors for each other. Stopping to help somebody pick up dropped packages, juggle kids. Incredible civility. Why?

The Disney culture not only profoundly affects its employees, it somehow “magically” affects its customers while under its spell. People change their attitudes and behaviors while on Disney grounds, in Disney hotels. (It suggests this is the place to meet for difficult contract negotiations or dispute mediation.)
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