View Single Post
Old 11-11-2004, 05:17 PM  
KRL
Entrepreneur
 
Join Date: Oct 2002
Location: USA
Posts: 31,429
Sort and rank them by potential.

Select the ideas that have the most potential for success and profits with the lowest amount of risk and time. It's a definite balancing act, but eventually you get a good instant gut feeling what is going to work or not work easily.

What you don't want to do is get bogged down developing ideas with too much risk, or requiring too much of your time and energy.

Then eventually you have to accept that not every idea you have will ever be done.
There really is not enough time to do everything if you are an ideas man.

The other thing I do that has worked well is to bring in partners. I usually will take 20% to 30% of every deal and bring in both active and passive partners.

This enables you to spread your financial risks, have lots of additional brainpower and partners to delegate tasks to, have stronger networking to get everything connected for your project, and have backup if for some reason you can't be there to manage or perform tasks.

So instead of trying to do 10 projects yourself, get partners on all of them. Eventually you'll build up a strong, diligent and reliable group of people on your teams.

You can also make employees partners as rewards for previous great work. Give them equity participation in your deals. They'll appreciate being rewarded and will work twice as hard if they have ownership.



__________________
If you would like to develop your domains, you can lease inexpensive foreign labor
from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION!

*** *** *** *** *** *** *** *** *** *** *** ***
Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

Last edited by KRL; 11-11-2004 at 05:18 PM..
KRL is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote