Accountability

In 1953 Harvard conducted a 20 year study on their students. The idea was to survey them after twenty years to determine their levels of success. At then end of the 20 years it was determined that 97% of the students were average to low average with regards to their careers and income. 3% made more (income) than the 97% combined. What was the determining factor? Well, Yale conducted a 10 year study in 1979 and after 10 years a survey was done and the results of their survey was identical to the results of that of Harvard. What was the determining factor? Yale went back and interviewed their 3% who were successful and discovered that the key factor for their success was accountabbility. They all had mentors. Someone who they learned from, but also who they they had to, in essence, report to or give updates on their progress. Writing goals is great, but with no one to hold you accountable it is easy to fall short. The point...Whatever field you decide to pursue..find a mentor in that field who has experienced the level of success you want to achieve...

Business Plan

Before you jump into any business it is crucial that you have a plan in place. The key is to set you goals and then set realisitic time expectations to complete or achieve your goals. No one business is going to explode over night. It takes time, dedication, and a ton of other components that we will be discussing over time. One key element is the why factor. You must have a strong reason behind the business you are choosing to build or you will not be disciplined enough to stay on task. Write it down separate from your business plan. This is a start. Tomorrow we will be talking about accountability.

Multiple Streams of Income

I'm sure many of you have heard of multiple streams of income. Most of us have had the desire to have these streams and some of us have taken the leap of business ownership without understanding the true concept behind business ownership. That's where we fail! It's easy to go on as if we were on stage in front of millions, performing, hearinng the screams of the fans and being struck by the sweat and tears of the "groupies". But, when the performance is done and we've taken a bow and the curtains have been lowered, do we really know what goes on BEHIND the scene? Do we understand the discipline and time? Do we understand the personal sacrifice? We don't. So we scramble like money driven investors on Wallstreet looking bidding for the best business, the one that's going to yield the most amount of money in the shortest amount of time. We buy product after product and answer ad after ad. All to no avail! Why? Could it be the product? Could it be our lack of knowledge of the product? More importantly could it be us? Often times our pains are strummed by the everyday stresses and pressures of life. Our minds become clouded and our visions distorted. Our decisions become haste and without thought. Let me ask this question. How often do we make business venture decisions that are in alliance with our goals, our mission, our vision, our dream? Maybe the question is...Have we taken the time to write down or even visualize our dreams? HMMMM something to think about. .......to be continued....