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How do you choose?

Discussion in 'General Entrepreneur Discussion' started by royemunson, Jul 27, 2007.

  1. royemunson
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    royemunson Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    Okay,

    so I read articles, posts, and success stories about many of you and others who have achieved amazing results in different arenas.

    I love business, investing, and all it entails.

    How do you choose which one to focus on starting out so to speak?

    Why did you go into your area of expertise?

    What initial hurdles did you overcome?

    I have so many ideas and putting one out there and going for it is tought
    to choose as I belive many others could/would prove successful.

    Just thoughts

    Joe
     
  2. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    For me, I love the challenge of a new task. I always wanted to be a writer and now I can do so without the struggles of having a job, or other interests. Its what I can focus on. I've never run a blog, nor written a book -- that fact inspires me to do it and accomplish it -- regardless of success or failure.

    I have other great ideas (particularly product inventions) that will have to hold off until my current goals are met.

    Focus is very important in anything I do. In my early 20's, I had many great ideas but zero focus.

    With all these great ideas in your head, its best to pick one and focus on it - make it successful.

    1 project done is better than 20 that never get off the ground. That was me in a nutshell when I was 22 - dozens of projects that never get anywhere.
     
  3. royemunson
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    royemunson Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    Focus. that term with choices are two of the most powerful ones in anything we do in life.

    You know Tony Robbins is someone I listen to often and it all comes down to our core.

    I have a major issue with focus.

    I know a little about a lot. I know more in some areas than certain people do who are doing it which gives them the edge b/c they are taking action and succeeding.

    I get bored easily. I love the web but am not techie.

    I enjoy helping people. I just love the idea of creating, starting, and moving on.

    A comfort zone is something I avoid. Once I become good at something, its time to move on.

    Have anyone else felt this? You know thanks to this forum (which is a classic example of filling a need - why didn't I think of it damn it!!!)

    i can now vent/ask and not get stupid answers that you don't know whether or not they are good advice or not.

    One of my favorite things about RK is that he is not that smart and he admits it. I was reading about Michael Dell and the guy seemed destined for success which makes some of us feel like - what the hell am i doing?

    Anyway I am ranting and the fact that MJ you invited me here I :cheers:
    to you!

    If I can find my focus and make my way to the fast lane then I will owe you guys much much more.

    Thanks

    Joe
     
  4. Antonio.
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    Antonio. New Contributor Read Millionaire Fastlane

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    I am going to be one of the first guy's to purchase your book MJ. I am 21 years old I have some many thing's that Im juggling right now its redicoulous.

    1.At the end of August I will be expecting my son Xavier
    2.My software Company is 100 Day's from Launch
    3 Studying for Electrian's Test and Reading Carpentry Books
    4.Women

    Just spending time with the gurlfriend and getting ready to launch my company and dealing with one of my disgruntle employee's is enough to take up my whole day. Sometime i feel all alone because i think in my mind that im the only one that's going to be self made which isn't the case. I read book's on companies;Ebay,Apple,Microsoft IBM etc etc and many other books. We you are getting ready to make big moves the average person's mindset no longer works. You have to look at everything differently EVERYTHING! I have a very in debt mindset to detail to explain. Sometime i feel like my head is spinning I go from carpentry books to accounting to Bio from bio's to linear equations and from linear equation's baby books from all of that i still managed to stay focused. The only way i have been able to hold together was that i had to sit down with my gurl and discuss in debt my goals and how time consuming and what i want to accomplish. I have a love for car's so I usually take break's to browse and admire all forum members exotic's after Im done I use that power and get back to work working working away. When my son is born i already have a plan routine I am going to have to give everybody time SON.WIFE and BIZ. I love doing business its great I can't wait to pay(currently doing) dues get reward's and to perfrom the cycle all over again. Im learning so much thanks for hearing my life story :rofl::rofl::rofl:
     
    Last edited: Jul 28, 2007
  5. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    To further comment on the original thread, passion in what you do is important. If you don't have passion, you will find it difficult to work long hours to nurture your business. Working long hours is mitigated-away when you love what you do.
     
  6. Antonio.
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    Antonio. New Contributor Read Millionaire Fastlane

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    MJ you are 100% correct. I love it and i don't really consider it work because simply put I love it. If you don't its going to stress you out until you fail.
     
  7. kimberland
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    kimberland Bronze Contributor

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    Curious.
    How do you profit from your learnings then?

    My strategy has been
    once I hit on a winning strategy,
    I ride it til the profit's gone
    (while testing others
    so I have something to move to).

    : )
     
  8. royemunson
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    royemunson Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    Points well taken. It all boils down to focus, boredom, and
    if I'm really doing what I'm meant to do/passionate about.

    Things that I battle with everyday and just need to pick
    a side and work that way. :bgh:

    Thanks for feedback and discussion.

    Joe
     
  9. Jason_MI
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    Jason_MI New Contributor

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    Personally, I think passion has nothing to do with it. The whole idea of 'do what you love, and the money will follow is", to me, BS. It ONLY follows if you happen to have a huge businss acumen and the drive to make it a business. My sig line on RDPD was always "Huevos and Homework", and that's what I believe. I couldn't give a crap about houses, but I flip them, I do it because it gives me money. I take that money, and I learn about stocks, another thing I couldn't give a crap about. I invest in stocks. I make more money. I get out there every day and I do the Nike thing: I do it. Every day, day in and day out, just like running. I do it. I have no passion for it, I have only a passing interest in it, because of interactions with it. It's only a business. Strange or sad? I mean, my real job blows. I HATE it. Everything I did up to this point that I loved (like building, since I'm a contractor), I loved UNTIL it became a business. Then I HATED it.

    No, I'm either the wierd duck out or I'm correct.....but if I'm correct, it's only for myself; passion has nothing to do with it; it's having the plan, having the huevos every day to carry out the plan, and doing the homework to make the plan and carry it out.

    At least that's my world. And no, I don't at all discount those that have the passion; it's just not me.
     
  10. kidgas
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    kidgas Contributor

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    Maybe your passion is in executing a plan. Nevertheless, there is something that motivates you compared to many others who lack that motivation.
     
  11. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I agree, but disagree about passion in general. You need a passion for something to succeed, not necessarily the job task as you stated. Such is true. I can tell you are passionate -- passionate about being free, making a better life for yourself and family, you're passionate about something which gets you up in the morning to do the work.

    For Joe, his passion might be his son and creating a better life for him. One of my passions (and still is) is helping my mother have a nice, easy retirement. She raised my sorry-a$$ by herself after going thru a nasty divorce.

    Passion about [enter anything here] is what creates your motivation to get out of bed and pursue your dreams.
     
  12. royemunson
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    royemunson Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    A great example of this is Howard Schultz. He said one time that he didn't love coffee. His passion was to provide a great work environment.

    Can't remember where I read that at?

    This is a good topic b/c many believe they must do what they love, but many times on the surface/job at hand isn't the underlying passion that drives them.
     
  13. michael515
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    michael515 Contributor

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    Know thyself. Here's what I mean...

    I'm fanatical about providing excellent service in all aspects and beating the competition that way. I get creative with providing a superior experience.

    I'm choosing a business more on the model that works with my strengths. I.e., I don't excel at creative design of websites, and see no point spending my time programming when I could hire a programmer who could do a much better job for pretty cheap. I am passionate about systems and marketing. I look for business ideas that I can outsource most of the other work and run in spite of me, while I focus on marketing and strategic deployment of systems and resources.

    So to answer your question of choosing - remember that everybody has their own opinion based on their experience and their own strengths. In my extensive reading I've found so many contradictions that my head was spinning. :smxE:

    Some say build the product/service/system yourself. I say that takes too much time - find a product and negotiate the license rights or pay someone else to create the system for you and then you run it and build the business around it. But I do this because my strength is better used building on the work of others and putting the other pieces together. I will do this only after research and testing to see if there is actually a market who will buy it.

    I've found it best to focus on your strengths and stay away from business models that aren't in line with your strengths. Outsource everything you can afford to other than what you excel at. Business is hard enough, give yourself as much leverage as you can. It's like salespeople - no matter how much training some people get, they will never be good salespeople, let alone top 5%. Find a way to give yourself lots of leverage.

    Also, market first, product second. Research and don't just follow the traditional "me too" model...

    Cheers,
    Michael
    :cheers:
     

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