Failures lead to Success!

Crawl before you walk. Do not bite off more than you can chew. Do not feed a baby steak.

These are all old wise tales which are very true in every sense of the word. This is especially true for business owners and entrepreneurs. Those people who try to start too fast or go after something too big too quickly, usually fail. We all have to start somewhere, but I suggest start at the beginning. Worse than not starting at the beginning is not starting at all. Too many people talk the talk but never back it up by walking the walk.

I suggest to you, just don’t talk but find a way to start. Start small, but start. It is better to have ten small failures before success, than one large failure and never try again. Most entrepreneurs have failed multiple times before achieving success.

Failure is only failure when we quit. If you are going to make mistakes, make them small failures, learn from them and then try again but just take a different route.

Franchisors at or near Bankruptcy

Here is a list of franchisors that have filed bankruptcy, or are reported close to filing bankruptcy. Notice how many of them are food related. In my opinion it would be a smart move to NOT open a food related business (with a few exceptions). There seems to be more safety in non food related type businesses. It is reported franchising in general has a 75% success rate by end of year five. Food related will probably be much lower.

Anyway here is the list of those franchisors at or near Bankruptcy.

• Perkins
• Marie Callender’s
• Giordano’s
• Friendly’s
• Souper Salad
• Dippin’ Dots
• Sbarro
• The Little Gym
• Fatburger (Fatburger parent company not part of bankruptcy
• Mrs. Fields/ TCBY

Elevator Pitch

What is an elevator pitch? In 20 seconds or less it is explaining what you do for a living. It is hopefully interesting enough where the person you are giving it to will be intrigued and will ask you for your business card.

Successful entrepreneurs try to give their elevator pitch twice a day. It is best done face to face but over the phone can also be successful. This means most good business owners will need to be talking with a few new potential clients every day. A good way to start a conversation, which can lead to an elevator pitch, is to ask others what they do for a living. Generally they will ask you the same question.

Be prepared by always having a couple business cards with you.

Good successful business owners will market themselves or their companies 1 to 2 hours every day. If you are not talking with customers, clients or people on a daily basis you need to get out of your comfort zone and do it. Remember 2 elevator pitches a day will keep the doctor away.

Social Media

Recently I bought a book called, Facebook Marketing for Dummies. Yes, I am a dummy when it comes to electronic media and many other things.

I have realized our world is changing and the way we market our businesses is changing every day. If we are going to have a successful business, we must adapt. With the invent of social media like Facebook, Twitter, Linkin, Blogs, Google, web sites, I Pads, smart phones and every other new method to get your word out about your company or product, it is important we stay on top of these new marketing instruments.

These tools are increasingly becoming a part of society and for us to reach new customers we either die or make them part of our businesses. Every major brand and company is now using these new marketing methods.

There is only one way to get involved with the electronic age and that is to get in and do it. Like Nike says, “Just Do It!” Read, take classes, search the internet, ask questions and start using the new, helpful marketing knowledge you have at your finger tips.

If you really want to be a business owner and an entrepreneur, forget the old ways to market and change with the times. If you do it right, you can be an overnight success story.

If you want to stay with the old world, you might as well prepare for an early retirement for that is where you might end up sooner than you want to be.

Listen to the Billionaires

Get advice from Billionaires on how to become rich. Don’t listen to the college professor making 75k a year, the attorney making 150k or the banker making 100k. Why listen to someone who has never ventured out of their comfort zone. Listen to someone who has been there and done it.

Click here to hear from some billionaires: http://youtu.be/r18WHQX2VWM

Have a great Thanksgiving!

Going Nowhere!

Shortly after beginning a journey, Alice reaches a fork in the road and asks the Cheshire Cat:

“Would you tell me, please, which way I ought to go from here?” “That depends a good deal on where you want to go,” said the Cat. “I don’t much care where,” said Alice. “Then…it doesn’t matter which way you go…” said the Cat. “….so long as I get SOMEWHERE.” Alice quickly added as an explanation.

“Oh, you’re sure to do that.” said the Cat. “If you only walk long enough.”

- Lewis Carroll (Alice In Wonderland)


If you do not know where you want to go, it doesn’t matter which direction you need to take, you’ll get to nowhere too late..

We should all decide where we want to be in life, otherwise we will wonder around aimlessly. Set your goals, spiritually, physically, educationally, financially and then when you come to the fork in the road you will know which path to take.

Entrepreneurs are goal setters and are doers, not talkers.

Get good Advice

Good ADVICE can save you time and money and poor advice can kill a good idea before it even begins. Be careful to whom you listen and from whom you seek advice.

This is America. Every one of us bright-eyed, individualistic, intelligent, proud Americans have one common trait, i.e., “We believe we know everything”. Myself included, just ask me!

Too often, candidates take advice from well-intended individuals who know nothing about the business you might be investigating. Make sure the person to whom you listen knows what they are talking about.

The Bank President who gave me my SBA loan to start the Pro Image stated, “This is not going to work. You cannot sell enough hats to pay back this loan and expect me to take your house within a year or two.”

I did pay off the loan within 2 years.

Get advice from someone who has been there and done it. Don’t just take advice from any friend, brother, sister, parent, accountant, attorney or bank president, unless they have been there and done it themselves. If you want to become a millionaire, ask the self made millionaire.

I love the quote from Bill Gates for he sums it up very well how he achieved success. “We were young, but we had good advice and good ideas and lots of enthusiasm.”