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Business Plan and Start Up Newsletter Issue #1044-The Entrepreneurs Worst Enemy: Excuses
August 15, 2007


Business Plan And Start Up Newsletter
August 2007
Written by Shaunta Pleasant
President, TL Manage Inc.

Everything banks, lenders and the SBA look for!  Produce your business plan quickly and easily... For entrepreneurs and small-business owners.   Find Out More...


********Table of Content********

The Entrepreneurs Worst Enemy Excuse

The Evolution of the Entrepreneur

A Few Cool Helpful Notes...


The Entrepreneurs Worst Enemy: Excuses
By Jason Robert King

How many people do you know who find excuses for everything? I remember telling my friends that I was going to rent out my house rather than sell it to use as a deposit on a new one. I received all sorts of advice, mostly negative. Here's the kind of things that people said regarding the idea:

  • Don't do it because house prices might crash
  • What if the tenant trashes the place?
  • You might not be able to find a tenant at all, then what?
  • Mortgage rates are going up so you might not make a profit
  • Now's not the right time, wait a while to see if the market improves

Short of saying "what if the sky falls in?" I received every other reason why not to do it.

So, in my usual style I did it anyway. Since then, house prices have doubled, I have at least £80k ($160k) equity in the house and I have the tenants paying my mortgage.

The place has never been empty for more than a week and no-one's trashed the place... yet. The sky didn't fall in after all.

The moral of this story is, if you have an idea and you think it's a good one then just do it. There's nothing wrong with seeking advice from those with expert knowledge in the chosen field. In fact this should be actively encouraged.

However, don't take advice from friends who know nothing about your ideas and goals, they'll almost always be negative and try to put you off the idea.

Procrastination and finding excuses not to do things at all is fast becoming a modern pastime. It's human nature to put things off and try to justify not doing things. It's also much easier that way.

If you suffer from this, you're not alone, we all do at times but it's those of us who overcome this and take positive action who achieve real success.

If you have any goals, personal or business then do something about them now. If you're waiting for the time to be right then I regret to inform you that the time will never be exactly right.

If you think you're not ready and you're still researching the idea there's nothing to stop you from starting now anyway, ready or not. There are countless stories where people have waited too long to take action and implement an idea, only to find that someone else beat them to it.

With this in mind, the easiest way to take positive action now and start your journey to achieving your goals is to write them out, how you plan to achieve them and by what date. Be specific. You can literally do this today, it only has to be a few paragraphs.

Pin it up somewhere where you can read it every day. When you read it, read it with true emotion as though you've already achieved your goals.

The reasons for doing this are to do with auto suggestion and are beyond the scope of this article. However, if you do nothing else today, at least do this as it's a very important and powerful first step.

Just remember that procrastination and excuses are the entrepreneurs worst enemy. Ask someone who you consider to be unsuccessful in life why they never achieved more success, but be tactful in your wording.

If you do this you'll see exactly what I mean. They'll give you a list of excuses as long as your arm.

Jason King designs websites, runs a number of online businesses and is also in the property letting business. His interests include researching the entrepreneurial mindset, his goal being to learn all there is to know about how to be a successful entrepreneur. He is the author of the book 'The Secrets of a Successful Entrepreneur', the result of his extensive research. For more information visit:

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The Evolution of the Entrepreneur
By Marco Angioni II

Many people discuss real estate, banking/financial institutions, and other common investments that are know to most entrepreneurs. However, because we are new entrepreneurs, we need to create NEW investments!

Many investors invest money and time into a project. When one buys a piece of real estate, one spends his/her time evaluating the property, discussing and negotiating terms, and preparing and signing contracts.

After all of that time is invested, money now has to be invested to conclude the deal. These two elements are very common in the entrepreneurial world. Time and money; time and money; time and money! This is all entrepreneurs hear! “You have to invest a lot of time and money to make this business work!” I do not entirely agree with that common statement, but there is some truth to it.

The point is, we as new entrepreneurs need to (at the risk of promoting a cliché) THINK OUTSIDE THE BOX.

You may be asking, “WHATS THE POINT? GET TO THE POINT!!” The point, my fellow business community members, is that if you/me/us/we ONLY invest time and money into a project, we are extremely limited in our choice of investment.

The entire premise of being an entrepreneur is that we do not fall in line; we do not conform to the conventional; and we break boundaries and borders in order to pioneer an idea, product, or state of mind!

Keeping that in mind, many people are interested in the “entertainment arts.” In other words, many new entrepreneurs are interested in the music and acting industries.

This is a GREAT road to travel! I respect and congratulate any person who wants to invest in these types of projects, not only as silent or active partner, but as the actual talent; the actual musician or actor/actress. However, I do NOT want to mislead.

Entrepreneurs that have picked this road have a very hard and bumpy expedition in front of them, but, like any risky investment, the payoff can be HUGE!

Now, let’s tie these two points together. People who wish to undertake this type of venture need to invest more than just the traditional time and money! Do not be afraid! This additional commitment is what makes being a new entrepreneur lots of fun!

In addition to time and money, one has to invest two other things. First, one has to invest his/her TALENT. If you wish to pursue a music or acting career, your talent is your biggest asset! Whereas you capital may help you invest in a real estate project, your musical or acting abilities are your capital in the “entertainment arts.”

Second, one must be willing to invest his/her HEART! That may sound “cheesy,” but truer words have never been spoken. Unlike a traditional investment, like real estate, emotional attachment to the project is a must! If you do not believe me, ask yourself this question, “do you really expect people to buy, watch, or listen to your music/movie/stage performance if no feeling is involved?”

The correct answer is NO! Truthfully, how many people do you know listen to music they like or watch a movie they like without getting emotionally involved.

THE ANSWER, ZERO! Everybody who likes the artist they are watching or listening to creates an emotional response from each person. Whether that response is sadness, happiness, thrill, excitement, mellowness, calmness, and/or motivation, to name a few; the point is an emotional response is created, and therefore, fans are created! NO FANS, NO MONEY, bottom line!

Besides investing you time, money, talent, and heart, you must act as an entrepreneur in this business to remain successful. If you are the artist, always remember that no matter how big the paycheck, your art is still a JOB! If you stop singing or acting, the money stops coming.

Although it is true that royalties may trickle in from time to time, the “main money” is gone if you stop. We have all seen how people can make millions on one job, and be broke in just a few years. Is this how you want to live?

How would you like to be a millionaire that IS WORRIED whether or not he/she will be broke next month?! The whole point of wealth is that one does not have to worry about money!

If you are an artist you also have to be an entrepreneur. When you first start out in the business, people may try to take advantage of you. Watch out for these people, because there will be more than you think.

Does this mean that all agents and/or managers will try to take advantage of you? Of course not, but you do have to create income through more than just your talent. Think of yourself as a professional athlete without a contract.

When a pro athlete gets injured, in most sports, he/she gets paid even if injured. The same is NOT true in your business! If you do not make a record, movie, etc., you do not get paid!

Making it “big” should be your first concern, but when money starts coming in, DO NOT ASSUME that it will continue forever. Many big musicians and actors spin their fame into clothing products, perfumes/colognes, and restaurants.

Investments of that magnitude may be further in the future, but “chance favors the well-prepared mind!” You do not have to be a millionaire to invest in real estate, an internet business, or a magazine; just to name a few ideas.

Musicians and actors/actress need to be entrepreneurs their whole career. The best way to avoid risk is to diversify. If you do not make a record, movie, etc. this year, wouldn’t it be nice to know that your magazine endorsement and your real estate investments are going to pay your bills for the next three years?

A few of the above written paragraphs may sound cynical, but for those of you new entrepreneurs that chose this path, you have a long, hard journey ahead and “sugar-coating” it will make it harder. If you go into this investment project with the mindset of an entrepreneur and the talent of an artist, you will do fine!

If you liked this article, visit my website for more!

CASHSPEAK! Money, Ideas, and Motivation for the New Entrepreneur
Acquire the knowledge to further your entrepreneurial goals! - Visit today and start achieving success!

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