The keys to success.

GFY isnt the place to get a serious answer to anything, ive pretty much given up posting anything serious here.

either you got it in you or you don't, not everyone can/will be successfull..even if you tried everything the people are saying here, if it isn't in you it doesn't matter what 'keys' you have

balance, of course.

not imo.

Thank you for your infinate wisdom. As you can see, I am fairly new here myself and I had yet to notice that.

damn you crack me up

What of it? Is my custom title and location supposed to prove my legitimacy as a webmaster somehow? Is my postcount and when I registered indicative of how successful I am in this business?

Go ahead and clue me in.

another one of the high and mighty posters here at gfy I see. maybe once I hit 1,000 posts you'll let me kiss your feet.

I highly doubt it. Post count does not mean jack shit. Only the idiots ever mention it in the first place.

Why should I bother? I prefer to supply clues to those who might actually have a future.

Focus on one thing at a time

knowledge is the key to everything.

You sound foolish making assumptions about someone you know nothing about.

But I understand your ego runs wild on this board, so if you really need to, continue...

I really do think that balance is the key. If I did a small amount of work every day, I would be much more productive than my work-spurts where I work really hard and burn myself out in a short amount of time.

Slow and steady gets me further, anyways.

THE ULTIMATE KEY IS...




























Being at the right place at the right time.

ZeroFate
Moderaterateher

Registered: Apr 2004
Location:
Posts: 119


Nothing personal. but I don't really think you have nearly enough experience to reach that conclusion.

KISS = Keep It Simple Stupid

This is one of the all time important rules that most entrepreneurs manage to do the opposite of and end up clusterfucking their venture with.

Keep things simple and easy from a mangagement standpoint, a logistics standpoint, a product or service standpoint, etc. Make everything you do and offer easy for your customers to understand how it will benefit them and easy to conclude a transaction with.


OPM = Other People's Money

The sooner you start to implement this rule into everything you do the less money you'll lose as you build more businesses.

9 out of 10 business deals never go the way they are planned and end up being losers. In today's fast paced world its next to impossible to know what your market will be like from the time you come up with a new idea to the time you actually get it off the ground. Things change so quickly even with a solid idea, the marketplace can change on you and suddenly it won't work. You might need more capital than planned. Just always expect things can and will go wrong.

The way you offset this is having capital partners fund deals along with you. You want to always have your own money in the deal of course also, but as much as you can bring in partner capital to share the risk. This technique also facilitates your ability to get in a lot more deals and build a lot more new businesses as you grow your empire.

It is much better to own 50% interests in 10 businesses than owning a 100% in just a couple.

This lets you maximize the potential for returns on your invested money and minimalizes your potential for huge losses. Its easier to digest a loss here and a loss there. But when you use all your own money inevitably you'll get a deal idea you think is a winner, pump a ton more of your money into it than you should (because entrepreneurs tend to think everything they do will turn to gold once they get a few hits) and boingo there goes all the profits from your last big hit.

So share your new biz ideas with likeminded business friends you can trust and get along with. Build things together. Its also great having more than one mind coming up with all the ideas and having other minds to bounce those ideas off of before implementing them.

With capital partners you can do things in a much larger way as well. Say you have $1 Million of investment capital. Using OPM you get 4 of your other successful buddies together and now you have $5 Million of capital to build with.

Repeat this process over and over and before you know it you'll have ownership interests in so many more deals than you could have done on your own you won't be able to count the money fast enough.

Also the OPM technique gives you incredible returns from the networking component. Your capital partners will have their own networks and their partners will have networks, etc. So you begin to build an every enlarging circle of powerful contacts that will come in handy as you grow.

KISS & OPM. Two of the most important things to use in everything you do.

baddog, ive been lurking here for about a year (im a lazy bastard. )

I love the place, but lately it seems like there are very few legit threads...but i still spend my whole damn day here anyways!

soo true.

dedication, persistance, knowledge, experience, information, contacts