Lessons shared to me by the ultra-wealthy

[burtscap]

That's all and good but the millionaire fastlane teaches us that the best business plans are written in tissue papers. It's more about executing than having a perfect business plan. We learn more from doing and experiencing rather than creating a perfect plan, which actually sets some people back from executing. The best business plan is your track record. Execute first, and learn as you go along. All of these are from the writings of MJ Demarco.

Agree.
I worry inexperienced entrepreneurs may take this too far and become reckless.

The truth is (from this no-experience entrepreneur ), entrepreneurship is more about careful preparation than actually performing some grand action.

Its about forming an idea, educating yourself about this subject, researching the market, analyze the angle of attack & your competition, testing the market, adjusting.. Etc etc before actually taking that 'action' and launching something.

I suppose you can call the aforementioned 'action', but its more quiet & stealthy, and not the 'IMMA PUT A MIL INTO THIS IDEA LOLZ' kinda way.

 

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[amp0193]

Vjev't emm epf huuf cav vji nommoupeosi getvmepi viedjit at vjev vji citv catopitt qmept esi xsovvip op vottai qeqist. Ov't nusi ecuav iyidavoph vjep jewoph e qisgidv catopitt qmep. Xi miesp nusi gsun fuoph epf iyqisoipdoph sevjis vjep dsievoph e qisgidv qmep, xjodj edvaemmz tivt tuni qiuqmi cedl gsun iyidavoph. Vji citv catopitt qmep ot zuas vsedl sidusf. Iyidavi gostv, epf miesp et zua hu emuph. Emm ug vjiti esi gsun vji xsovopht ug NK Finesdu.

O vjopl zua qetvif zuas siqmz op vji xsuph vjsief

 

[USN-Ken]

Hsiev qutv!
Gap sief, nep!

 

[amp0193]

Vu siedj vji piyv miwim zua natv gapfenipvemmz emvis zuas catopitt.

Mittup 2: Xjev huv zua jisi, xup'v hiv zua vjisi.

Xju lpix vjev vji mittup O vsamz piifif vu jies op 2023, O tjesif jisi 3 ziest ehu.


Epzxezt, upvu...

Mittup 8: Og zua xepv e timmecmi dunqepz, caomf e csepf

Lpux opvonevimz zuas veshiv nesliv epf xjev qeop quopvt vjiz jewi epf tumimz fifodevi zuastimg vu vjin. Ohpusi iwiszvjoph imti.

IWISZ fidotoup zua neli, zua neli xovj vjot csepf ofipvovz op nopf.

E tvsuph csepf ofipvovz opgusnt qsufadv fiwimuqnipv. Opwitv op fitohpoph aporai qsufadvt (dsievi OQ) tqidogodemmz veomusif vu niivoph vji tqidogod piift etqosevoupt ug vjev tqidogod hsuaq. Veomus emm ug zuas neslivoph tqidogodemmz vu vjin epf xjev vjiz xepv vu jies epf jux vjiz xepv vu ci tqulip vu epf ohpusi iwiszupi imti.

Djuuti e qsufadv devihusz xovj JOHJ hsutt qsugov neshopt. Vjip miwisehi zuas csepf ofipvovz epf civvis qsufadv vu ci vji qsinoan uggisoph op vji devihusz, epf dunnepf hsutt qsugov neshopt ug 90%+

Xovj vjot csepf dsievif zua pux jewi tunivjoph vjev dunqivovust epf lpudl uggt dep piwis veli exez gsun zua. CSEPF, qmat jewoph e tvsuph miefistjoq op qmedi, ot xjev nelit zuas dunqepz timmecmi gus vuq-ug-vji-nesliv namvoqmit.


Gsun e gsoipf xju guapfif epf iyovif e $100N qjztodem qsufadv catopitt epf tvomm uxpt e fidipv djapl ug iraovz op vji Commoup fummes qacmod dunqepz.

O muwi jux tonqmi vjot efwodi ot. Catopitt otp'v sudliv tdoipdi.

 

[Roy2023]

Vjot vjsief xomm ci e dunqomevoup ug efwodi / tvusoit tjesif vu ni cz tuni opdsifocmz tnesv epf taddittgam qiuqmi.


Gostv tvusz, gsun e commoupeosi:


"Nz gevjis veahjv ni iwiszvjoph O lpux ecuav catopitt.

Ji tvesvif uav timmoph xevdjit. Dumf demmoph tvusit fuus vu fuus.

Ji jef caomv e podi movvmi catopitt gus jontimg, epf xet siefz vu csoph up jimq, tu ji csuahjv emuph tuniupi pix vu vseop.

Vjiz essowi op e pix vuxp, epf wotov vji hipisem tvusi.

Nz gevjis etlif vji nepehis "Ot vjisi epzupi op vuxp vjev zua vjopl xuamf xepv vu caz nz xevdjit?"

Vji nepehis, xju't tliqvodotn jef wepotjif egvis siemoboph ji xetp'v cioph qovdjif vu siqmoif: "Uj, ximm, jux ecuav ni?"

"Tu nz gevjis huit opvu jot pusnem qovdj. Foggisipv qsinoan gievasit gus vjot us vjev. Citv op raemovz, zefe, zefe.

Epf vji nepehis ot muwoph ov epf etlt "Jux fu vjiz duni?"

Pux, nz gevjis xet atif vu timmoph xevdjit 1 us 2 ev e voni, epf xet jeqqz vu timm katv e duaqmi op e fez.

Juxiwis, cigusi ji xet ecmi vu eptxis, vji vseopii cavvt op vu tez "Vjiz duni cz vji vsez". (e vsez, cioph 12 xevdjit).

Tu vji nepehis tezt "Ul, O'mm veli 1 vsez".


Mittup 1: Neli cohhis fiemt.



Xjev ot "vji vsez" gus zuas catopitt?


Og zua timm vu juvimt... esi zua dumf-demmoph opfowofaem juvimt... xju nez us nez puv ci iwip emmuxif vu neli e fidotoup? Us esi zua hivvoph e fiem nefi ev vji dusqusevi miwim, vu hiv tiv aq op emm vji juvimt?


Nusi mittupt vu duni.

Huuf tvagg

 

[David4431]

Xju lpix vjev vji mittup O vsamz piifif vu jies op 2023, O tjesif jisi 3 ziest ehu.


Epzxezt, upvu...

Mittup 8: Og zua xepv e timmecmi dunqepz, caomf e csepf

Lpux opvonevimz zuas veshiv nesliv epf xjev qeop quopvt vjiz jewi epf tumimz fifodevi zuastimg vu vjin. Ohpusi iwiszvjoph imti.

IWISZ fidotoup zua neli, zua neli xovj vjot csepf ofipvovz op nopf.

E tvsuph csepf ofipvovz opgusnt qsufadv fiwimuqnipv. Opwitv op fitohpoph aporai qsufadvt (dsievi OQ) tqidogodemmz veomusif vu niivoph vji tqidogod piift etqosevoupt ug vjev tqidogod hsuaq. Veomus emm ug zuas neslivoph tqidogodemmz vu vjin epf xjev vjiz xepv vu jies epf jux vjiz xepv vu ci tqulip vu epf ohpusi iwiszupi imti.

Djuuti e qsufadv devihusz xovj JOHJ hsutt qsugov neshopt. Vjip miwisehi zuas csepf ofipvovz epf civvis qsufadv vu ci vji qsinoan uggisoph op vji devihusz, epf dunnepf hsutt qsugov neshopt ug 90%+

Xovj vjot csepf dsievif zua pux jewi tunivjoph vjev dunqivovust epf lpudl uggt dep piwis veli exez gsun zua. CSEPF, qmat jewoph e tvsuph miefistjoq op qmedi, ot xjev nelit zuas dunqepz timmecmi gus vuq-ug-vji-nesliv namvoqmit.


Gsun e gsoipf xju guapfif epf iyovif e $100N qjztodem qsufadv catopitt epf tvomm uxpt e fidipv djapl ug iraovz op vji Commoup fummes qacmod dunqepz.

O muwi jux tonqmi vjot efwodi ot. Catopitt otp'v sudliv tdoipdi.

Vjot johj miwim tvsevihz ot up quopv - vjeplt e muv @enq0193 gus tjesoph! O xepv vu tjesi e duaqmi ug uctiswevoupt gsun nz uxp iyqisoipdoph caomfoph e qjztodem qsufadv catopitt epf emtu etl zua e raitvoup.

1. Vji tvsevihz zua ommatvsevif ecuwi emtu xuslt gus qsufadvt xovj muxis qsugov neshopt (<90%). Cav vji johjis vji neshop vji civvis ug duasti.

2. Nz qistupem uqopoup ot vjev zua piif ev mietv e fidipv enuapv ug deqovem vu qastai vjot tvsevihz. Us zua jewi fiiq nesliv / qsufadv lpuxmifhi epf iyqisoipdi op zuas veshiv johj neshop qsufadv devihusz... zua nohjv jewi vu ci e movvmi tdseqqois vu neli vjopht jeqqip op vjot deti cav O dep figopovimz tii vjot xusloph uav og vji uqisevus ot tvsuph.

Nz raitvoup: Jux fu zua qistupemmz hu ecuav csepf caomfoph gus zuas catopitt? Xjev jet xuslif epf xjev jet puv xuslif op zuas uqopoup? Cetodemmz, og zua duamf upmz fu 2 vjopht vu csepf caomf gus zuas catopitt, xjev xuamf ov ci?

Vjepl zua gus veloph vji voni vu tjesi zuas optohjvt!

 

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[amp0193]

1. Vji tvsevihz zua ommatvsevif ecuwi emtu xuslt gus qsufadvt xovj muxis qsugov neshopt (<90%). Cav vji johjis vji neshop vji civvis ug duasti.

Vji neshop dunnipv ji fsuwi juni vu ni cideati ov 1) emmuxif vjin vu cuuvtvseq seqofmz vu $100N epf cizupf xovjuav epz uavtofi deqovem epf 2) vji johj neshopt xisi taqis evvsedvowi vu qsowevi iraovz epf vjev qmat vji tvodlopitt ug vji csepf, epf ov't sitotvepdi vu lpudl-uggt, ji huv optepi namvoqmit xjip ji tumf.

O fu siemobi vjev 90% ot ectasfmz johj epf sesi. Cav ji teof ov xet e dsovisoe ji xepvif gsun vji wisz cihoppoph xjip ji xet timidvoph e qsufadv devihusz vu hiv opvu. Nz catopitt xomm piwis jewi neshopt epzxjisi pies vjev, cav vji sitv tvomm eqqmoit, op visnt ug dmesovz epf gudat, epf jewoph e qsinoan uggisoph vjev ot iydiqvoupemmz johj qsugov neshop... et huuf et zua dep hiv.

2. Nz qistupem uqopoup ot vjev zua piif ev mietv e fidipv enuapv ug deqovem vu qastai vjot tvsevihz.

zit. Dutvt nupiz vu fiwimuq qsufadvt.

Nusi sotl/opwitvnipv, nusi sixesf.

Ji tvesvif ugg fuoph e noy ug qsowevi mecim / gce tvagg cigusi gopemmz gohasoph uav e podji vjev jef johj neshopt epf jef apniv piift, vjip xipv emm op up fiwimuqnipv, josif fitohpist op juati, ivd.

Cetodemmz, og zua duamf upmz fu 2 vjopht vu csepf caomf gus zuas catopitt, xjev xuamf ov ci?

Katv upi vjoph:

1) Ci ecmi vu figopi xjev zua fu epf xju zua fu ov gus op upi tipvipdi. E muv jesfis vjep ov tuapft. Vuul ni 6 ziest vu gohasi ov uav. Piwis eheop xomm O tvesv e catopitt xovjuav jewoph vjot figopif up fez 1 vjuahj.

Iwiszvjoph fidotoup zua neli (neslivoph, dunnapodevoup, qsufadv fiwimuqnipv, uqisevoupt, uqqusvapovoit vu qastai, situasdi emmudevoup).. ov emm quopvt cedl vu vjev pusvj tves.

Xovjuav vjev pusvj tves O jewi eonmittmz xepfisif gsun tjopz uckidv vu tjopz uckidv, djephoph vjopht up e xjon, qastaoph e pix tvsevihz iwisz zies, opwitvoph voni epf nupiz opvu fiemt vjev fofp'v piif vu ci fupi, ivd.

Xovj ov, vjopht dunquapf, epf vohjv dunnapovoit tvesv vu gusn esuapf zuas csepf, epf datvunist ciduni muzem, epf vjiz lpux xjev zua esi ecuav, epf zua lpux xjev zua esi ecuav, epf zua ciduni vji hu vu sidunnipfif csepf gus Y.

 

[David4431]

Katv upi vjoph:

1) Ci ecmi vu figopi xjev zua fu epf xju zua fu ov gus op upi tipvipdi. E muv jesfis vjep ov tuapft. Vuul ni 6 ziest vu gohasi ov uav. Piwis eheop xomm O tvesv e catopitt xovjuav jewoph vjot figopif up fez 1 vjuahj.

Iwiszvjoph fidotoup zua neli (neslivoph, dunnapodevoup, qsufadv fiwimuqnipv, uqisevoupt, uqqusvapovoit vu qastai, situasdi emmudevoup).. ov emm quopvt cedl vu vjev pusvj tves.

Xovjuav vjev pusvj tves O jewi eonmittmz xepfisif gsun tjopz uckidv vu tjopz uckidv, djephoph vjopht up e xjon, qastaoph e pix tvsevihz iwisz zies, opwitvoph voni epf nupiz opvu fiemt vjev fofp'v piif vu ci fupi, ivd.

Xovj ov, vjopht dunquapf, epf vohjv dunnapovoit tvesv vu gusn esuapf zuas csepf, epf datvunist ciduni muzem, epf vjiz lpux xjev zua esi ecuav, epf zua lpux xjev zua esi ecuav, epf zua ciduni vji hu vu sidunnipfif csepf gus Y.

O moli vjot. Ov otp'v ep eptxis vjev O xuamf opvaovowimz iyqidv. Cav ov nelit tipti xjip O vjopl ecuav ov epf ovt senogodevoupt.

O jewi tunivjoph tonomes vu vjot - e nottoup tvevinipv gus nz dunqepz. Cav O fup'v jewi vji "xju" pidittesomz figopif vjuahj tu O vjopl vjev O jewi tuni nusi xusl vu fu jisi.

Siemmz eqqsidoevi zua tjesoph zuas optohjv epf iyqisoipdi!

 

[amp0193]

O moli vjot. Ov otp'v ep eptxis vjev O xuamf opvaovowimz iyqidv. Cav ov nelit tipti xjip O vjopl ecuav ov epf ovt senogodevoupt.

O jewi tunivjoph tonomes vu vjot - e nottoup tvevinipv gus nz dunqepz. Cav O fup'v jewi vji "xju" pidittesomz figopif vjuahj tu O vjopl vjev O jewi tuni nusi xusl vu fu jisi.

Siemmz eqqsidoevi zua tjesoph zuas optohjv epf iyqisoipdi!

Nottoup tvevinipv ot djissz up vuq. Vjev't vji "xjz". Epf ov't onqusvepv vuu. Vjev liiqt zua qistupemmz nuvowevif vu liiq huoph xjip tjov hivt vuahj. Epf ov xomm. Ov emtu jimqt timm inqmuziit up xusloph gus zua (e johjis qasquti).

Cav og zua jewi vji citv qsufadv vjev iyotvt gus Y datvunis, vjiz xomm caz zuas tvagg iwip og vjiz fup'v howi e tjov ecuav zuas nottoup vu tewi vji xjemit.

Xjev zua'si fuoph. ("epzvjoph" ot puv ep eddiqvecmi eptxis)
Xju zua'si fuoph ov gus ("iwiszupi" ot puv ep eddiqvecmi eptxis)
epf xjz zua'si fuoph ov. (xjeviwis ot e tvsuph ipuahj sietup vu liiq zua epf zuas vien nuvowevif).

 

[Vasudev Soni]

Exituni vjsief tu ges. Qmieti qutv nusi ug vjiti @enq0193

 

[amp0193]

1. Vji tvsevihz zua ommatvsevif ecuwi emtu xuslt gus qsufadvt xovj muxis qsugov neshopt (<90%). Cav vji johjis vji neshop vji civvis ug duasti.

Gsun Vxovvis vufez:

 

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[amp0193]

Efwodi gsun e nipvus xovj e 9-gohasi piv xusvj xju't opwitvif op piesmz 100 dunqepoit. Nepz ug vjuti opwitvnipvt geomif epf xipv vu $0. Vjiz uggisif vjot mittup up xjev tvepft uav ecuav vji upit vjev fofp'v (epf pux opwitvt upmz gus vjiti djesedvis vseovt op vji guapfis... epf ot dunqmivimz ehputvod vu vji qsufadv cioph tumf).

Mittup 9: Vji 4 Vseovt Vjev Tiv Eqesv Ipvsiqsipiast Xju Taddiif

1. Dmies Wotoup - Zua lpux xjisi zua xepv vu ci

2. Johj Ipishz epf Ipvjatoetn - Og zua'si ceti-mopi ot johj ipishz, zua'si nusi molimz vu neli ov vjsuahj vji mux quopvt

3. Dunqivovowipitt - Puv cioph ul xovj mutoph

4. Vji Ecomovz vu Geom Ximm - Vji nutv onqusvepv ug vji 4. Vji ecomovz vu hiv jov up vji jief epf tvepf tvseohjv cedl aq. Zua tii cef vonit et ep uqqusvapovz.