Well, I guess it is time for my success story. I have been away from this forum for a while due to some dis-enchantment with other members accusing me of spamming. I am back to provide my story...
I joined this forum on Sept. 2008 shortly after my birthday on the 18th. My goal was to explain to all who would listen how I succeeded and failed, possibly to help them avoid my many mistakes. Early 2008 I had already formed my California Corporation; Strategy Venture Group, Inc. and been asked to become an Entreprenuer Mentor to a handful of apprentices.
In 2005 I lost everything while my daughter was on her her way into the world. In 2006 I was living with my parents, my fiance' and my newborn daughter. For work I had been asked by one of my friends to manage his local roofing company. I told him I needed to get on the roof like his workers to remember what it was like and see how things worked. 8 months later I became the official manager after roofing with the crews! They were all surprised and terrified, lol. Anyway, I no sooner became manager right before finding out his purchasing system was out of whack and he was half a million in debt! I promptly laid myself off right after my 2nd trip to the emergency room. I hadn't realized how sick I was about to become.
The next two years is easily described as me in and out of the VA hospital. In late 2007 I found out I had had Crohn's disease, not to actually be confirmed until later 2008. This finally explained why I had colon cancer so young and hypoglycemia. Just a bunch of health issues that sucked.
When I started posting in the Fastlane, I was on my way back to building my business for the 3rd incarnation. I follow one very important philosophy above all, never stop learning & nobody knows everything or as much as they think they do! I am now the President & CEO of Strategy Venture Group, Inc. where I am also 50% owner. My partner is my best friend. He and I argue all the time like brothers. If you think you can separate business and personal issues, you are not very experienced in the business world. I'm sorry if this offends; however, I have met with many influential people as of late and they agree, which gives me the confidence to state this here.
So now I lead a company that runs a max of 5 startup projects per year and a handful of growth stage companies. SVG is an incubator of sorts. We invest in startup projects by providing the technology rather then just funds for equity. That said, we almost always fund the startup marketing. We own 40%-50% equity by providing the Web technology, servers, hardware and funding the startup marketing until profitability for most of our projects. We don't start projects if an Entrepreneur has not shown the fortitude to survive the startup stage and can listen rather than argue.
How I went from poor to successful for the 3rd time -
In summary, I fell back to my best skills and began working with my newly acquired skills. These were Web Development, project management, leadership, and mentoring. I used my skills to build a make shift team, one of which was the man funding our 1st project. We built a unique marketing system for the Life Insurance/Financial Services industry. It is still unbeatable!
From there, we used our system to prove how my company (a full 3 people) could build anything we set out to. We made a little bit of money and even surplussed a profit after a few kicks in the teeth. With our newly acquired Net Disposable Income (look up the term it is important), I funded the technology and marketing for another startup. We formed a JV with a very passionate Entrepreneur with experience in his industry. He built the marketing plan, I mentored him in the business structure & infrastructure planning, then we (SVG) funded his marketing plan once we all approved it. Little did we realize, we had designed our formula for success! Note: We funded the marketing with surplus cash & credit.
At this point SVG was just me and my best friend now. Two projects were profitable and we were looking for our next project while still "influencing" the two Entreprenuers managing said two profitable projects. Practicing influence has become much more important than control or even trust in our business! You see influence creates control & trust. For our next project I realized we needed to build something again to prove ourselves (this pattern keeps repeating itself in today's business climate). We built a notification system for a well known organization and tested it. No profit was generated yet and we didn't have permission from the organization. Sometimes it is best to ask for forgiveness rather than permission. Eventually after they chastized us, they asked us to build it and improve on it so they could license it. Are you laughing yet?
In conclusion, I learned to adapt to the quickly changing business environment. If you don't already know this, business is changing at light speed thanks to ultra fast communications technology. Get on-board and don't fight it, opportunity is created by this affect. Further, as an Entrepreneur, you don't have the luxury of being depressed, tired, negative or any other state which prevents you from being successful! If I hear another wannabe Entrepreneur tell me thay are a realist to excuse their negativity, I might implode! Entrepreneurs are idealists with the motivation to materialize their creativity.
My Formula for success:
1. Identify something you can be passion it about! -
Don't linger on this, just start working with things or activities you enjoy.
2. Build something -
I don't care what it is, it shows your passion and proves you are capable which means serious business people will be attracted to you.
3. Get feedback -
Tell everyone what you built, show it off and ask for their opinions. Then listen and record!
4. Ask your feedback group to ask their friends/colleagues opinion -
Why, because someone will eventually catch the virus, seek you out and present an opportunity, even if it is a long time later.
5. Be patient -
Yeah, you are desperate, or in need of money or in need of everything, so is everyone else. Get over it and wait for the opportunity to present itself. If you don't calm down, you will miss it.
6. Don't Wait -
LOL... I purposely contradicted myself here because I want to emphasize that waiting above means to realize and believe an opportunity will present itself. You can create one just as well, but make sure you don't operate out of desparity.
7. Vet all opportunities -
Please learn how to conduct Due Diligence! Get a drivers lices (color copy) of anyone you want to do business with before any transactions. Use eScrow.com and Paypal for their saefty in transactions. It is not illegal for a Consultant to not provide what is in a contract, it is a civil matter. Contracts are only as good as the legal power you have.
8. Always find the Win-Win -
Always build and present a win-win situation to be agreed upon. If they say no, don't walk away, run! This is just as much a part of the vetting process.
9. MLM opportunities are for the weak -
I'm sorry, but most MLM opportunities are designed (actuall all of them) to prey on the less experienced Entrepreneur. Mr Kiyosaki, you and i have parted ways here.
10. Build a surplus of money -
Get a job, do side work, just buils a surplus. The size limits your opportunities, but creativity lifts those limits. Don't use other peoples money until you gain experience! Anyone who invests in a starup where the Entrepreneur is inexperienced in the industry is a newbie Investor. The startup has a .0001% chance of success.
Important formula for the 1st time Entrepreneur=
Either you have a job, or you are getting one. Adjust your lifestyle to live off of 50% of your NET income (after taxes & retirement program). Do this for 18 months. Save the other 50% in a bank account or cash jar. Make sure you can't dip into it until the end of 18 months. At the end of the 18 month period, quit your job, or go on hiatus after you have a business plan approved by an experienced self-made Entreprenuer who understands your industry. Fund your startup with 6 months of the money you saved. Use the other 12 months to live on. Don't worry about competition, your creativity/innovation will overcome it. This is the advice i never got!
Side note: If you are in the military, you have a unique position. You have the ability to live off the bases, command's resources and save your money in a safe investment vehicle until your discharge. In the last two year of your term, learn to live off a small budget away from base resources to get yourself ready for the civilian world, it won't be easy, but you think it will. Lol.
I joined this forum on Sept. 2008 shortly after my birthday on the 18th. My goal was to explain to all who would listen how I succeeded and failed, possibly to help them avoid my many mistakes. Early 2008 I had already formed my California Corporation; Strategy Venture Group, Inc. and been asked to become an Entreprenuer Mentor to a handful of apprentices.
In 2005 I lost everything while my daughter was on her her way into the world. In 2006 I was living with my parents, my fiance' and my newborn daughter. For work I had been asked by one of my friends to manage his local roofing company. I told him I needed to get on the roof like his workers to remember what it was like and see how things worked. 8 months later I became the official manager after roofing with the crews! They were all surprised and terrified, lol. Anyway, I no sooner became manager right before finding out his purchasing system was out of whack and he was half a million in debt! I promptly laid myself off right after my 2nd trip to the emergency room. I hadn't realized how sick I was about to become.
The next two years is easily described as me in and out of the VA hospital. In late 2007 I found out I had had Crohn's disease, not to actually be confirmed until later 2008. This finally explained why I had colon cancer so young and hypoglycemia. Just a bunch of health issues that sucked.
When I started posting in the Fastlane, I was on my way back to building my business for the 3rd incarnation. I follow one very important philosophy above all, never stop learning & nobody knows everything or as much as they think they do! I am now the President & CEO of Strategy Venture Group, Inc. where I am also 50% owner. My partner is my best friend. He and I argue all the time like brothers. If you think you can separate business and personal issues, you are not very experienced in the business world. I'm sorry if this offends; however, I have met with many influential people as of late and they agree, which gives me the confidence to state this here.
So now I lead a company that runs a max of 5 startup projects per year and a handful of growth stage companies. SVG is an incubator of sorts. We invest in startup projects by providing the technology rather then just funds for equity. That said, we almost always fund the startup marketing. We own 40%-50% equity by providing the Web technology, servers, hardware and funding the startup marketing until profitability for most of our projects. We don't start projects if an Entrepreneur has not shown the fortitude to survive the startup stage and can listen rather than argue.
How I went from poor to successful for the 3rd time -
In summary, I fell back to my best skills and began working with my newly acquired skills. These were Web Development, project management, leadership, and mentoring. I used my skills to build a make shift team, one of which was the man funding our 1st project. We built a unique marketing system for the Life Insurance/Financial Services industry. It is still unbeatable!
From there, we used our system to prove how my company (a full 3 people) could build anything we set out to. We made a little bit of money and even surplussed a profit after a few kicks in the teeth. With our newly acquired Net Disposable Income (look up the term it is important), I funded the technology and marketing for another startup. We formed a JV with a very passionate Entrepreneur with experience in his industry. He built the marketing plan, I mentored him in the business structure & infrastructure planning, then we (SVG) funded his marketing plan once we all approved it. Little did we realize, we had designed our formula for success! Note: We funded the marketing with surplus cash & credit.
At this point SVG was just me and my best friend now. Two projects were profitable and we were looking for our next project while still "influencing" the two Entreprenuers managing said two profitable projects. Practicing influence has become much more important than control or even trust in our business! You see influence creates control & trust. For our next project I realized we needed to build something again to prove ourselves (this pattern keeps repeating itself in today's business climate). We built a notification system for a well known organization and tested it. No profit was generated yet and we didn't have permission from the organization. Sometimes it is best to ask for forgiveness rather than permission. Eventually after they chastized us, they asked us to build it and improve on it so they could license it. Are you laughing yet?
In conclusion, I learned to adapt to the quickly changing business environment. If you don't already know this, business is changing at light speed thanks to ultra fast communications technology. Get on-board and don't fight it, opportunity is created by this affect. Further, as an Entrepreneur, you don't have the luxury of being depressed, tired, negative or any other state which prevents you from being successful! If I hear another wannabe Entrepreneur tell me thay are a realist to excuse their negativity, I might implode! Entrepreneurs are idealists with the motivation to materialize their creativity.
My Formula for success:
1. Identify something you can be passion it about! -
Don't linger on this, just start working with things or activities you enjoy.
2. Build something -
I don't care what it is, it shows your passion and proves you are capable which means serious business people will be attracted to you.
3. Get feedback -
Tell everyone what you built, show it off and ask for their opinions. Then listen and record!
4. Ask your feedback group to ask their friends/colleagues opinion -
Why, because someone will eventually catch the virus, seek you out and present an opportunity, even if it is a long time later.
5. Be patient -
Yeah, you are desperate, or in need of money or in need of everything, so is everyone else. Get over it and wait for the opportunity to present itself. If you don't calm down, you will miss it.
6. Don't Wait -
LOL... I purposely contradicted myself here because I want to emphasize that waiting above means to realize and believe an opportunity will present itself. You can create one just as well, but make sure you don't operate out of desparity.
7. Vet all opportunities -
Please learn how to conduct Due Diligence! Get a drivers lices (color copy) of anyone you want to do business with before any transactions. Use eScrow.com and Paypal for their saefty in transactions. It is not illegal for a Consultant to not provide what is in a contract, it is a civil matter. Contracts are only as good as the legal power you have.
8. Always find the Win-Win -
Always build and present a win-win situation to be agreed upon. If they say no, don't walk away, run! This is just as much a part of the vetting process.
9. MLM opportunities are for the weak -
I'm sorry, but most MLM opportunities are designed (actuall all of them) to prey on the less experienced Entrepreneur. Mr Kiyosaki, you and i have parted ways here.
10. Build a surplus of money -
Get a job, do side work, just buils a surplus. The size limits your opportunities, but creativity lifts those limits. Don't use other peoples money until you gain experience! Anyone who invests in a starup where the Entrepreneur is inexperienced in the industry is a newbie Investor. The startup has a .0001% chance of success.
Important formula for the 1st time Entrepreneur=
Either you have a job, or you are getting one. Adjust your lifestyle to live off of 50% of your NET income (after taxes & retirement program). Do this for 18 months. Save the other 50% in a bank account or cash jar. Make sure you can't dip into it until the end of 18 months. At the end of the 18 month period, quit your job, or go on hiatus after you have a business plan approved by an experienced self-made Entreprenuer who understands your industry. Fund your startup with 6 months of the money you saved. Use the other 12 months to live on. Don't worry about competition, your creativity/innovation will overcome it. This is the advice i never got!
Side note: If you are in the military, you have a unique position. You have the ability to live off the bases, command's resources and save your money in a safe investment vehicle until your discharge. In the last two year of your term, learn to live off a small budget away from base resources to get yourself ready for the civilian world, it won't be easy, but you think it will. Lol.
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