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The 3 Deadly Myths of Entrepreneurship

Ignore this at your peril!

In true “Crush It” fashion, here are the 3 Deadly Myths of Entrepreneurship.

Myth #1:  Going into business for yourself is risky

The safest thing to do is work for a corporation where you get benefits, guaranteed vacation days, and year-end bonuses.

REALITY:  This myth can’t be farther from the truth!  If you haven’t been under a rock during our financial market turmoil in the last couple of years, you’ll know that millions of people have lost their jobs as a result of the recession and companies downsizing.  People’s “secure” jobs have been eliminated with no advance notice.  There’s no such thing as job security anymore.

Today, large corporations are decentralizing themselves.  Virtual corporations are popping up (read: people working from home), independent contractors are on the rise, and many people are starting a vending business leave the the corporate grindbehind.  Furthermore, the independent entrepreneur is a heck of a lot more nimble and far more competitive than the big, behemoth corporations that are slow to make changes.

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These myths are loosely adapted from Paul Zane Pilzer’s book, The Next Millionaires, which is a “must read” for aspiring entrepreneurs.

Click on the book image to the right to pick up your copy.

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Myth #2: It’s harder than ever for the individual entrepreneur to get ahead

Opportunity for individuals is shrinking.  Small businesses are being bought by large businesses.  Large businesses are being bought by multi-nationals.  The internet is eliminating the need for person-to-person selling.

REALITY:  Changes in tax laws and rapidly increasing technology have created the Age of the Entrepreneur and this means, going forward, the Entrepreneur has the edge over large corporations.  Home-based businesses, franchises, and solo-proprietors are one of the fastest growing segments in our economy and technology is fueling this growth.

Myth #3:  It’s tougher and tougher to become a millionaire these days

Economic recession, increased competition, and fewer, more expensive resources are hindering the growth of the number of millionaires today.

REALITY: We’re in the middle of a “millionaire explosion”!

From 1776 to 1991, 3.6 million millionaires were created in the US.  That took 215 years.

From 1991-2001 the number of millionaires DOUBLED to 7.2 million.  That only took 10 years!

How many more millionaires were created from 2001-2005?  Another million.  This was despite 9/11, economic recession, and a heck of a lot of doom and gloom on the news.

In fact, over the next 10 years, we’re in a position to create another 10 million millionaires, raising the total number of US millionaires to more than 18.5 million. (that’s a lot).

Yes, the value of a million dollars today is not what it used to be back in the day…but it’s still a lot!

So, I leave you with this question:

What are you doing to become the next millionaire?  If wealth via money is not your thing, what are you doing to become a “wealthy” millionaire in the spiritual, physical, and emotional sense?  What are you doing to create value in this world?

Next week, I’ll cover some ideas on how to increase your personal wealth so you can become a millionaire in any aspect of your life that you wish.


Best in Health & Wealth,

Sean and Andy

Founders, HUMAN Healthy Vending

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Crush It Quote of the Week

Doubt, of whatever kind, can be ended by action alone. ~ Thomas Carlyle

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Starting a Business and the Road to Success and Freedom

How badly do you want to make money for yourself?  I am talking about money that comes directly from a consumer into your pocket, without first being siphoned off by your CEO, then upper management, then your boss, before finally being doled out to you.

How badly do you want to be able to set your own schedule, work when you want to work, and stop the endless commute back and forth to the office? Do you want to take vacations when you decide it is time, instead of when it is convenient for others?

Take 10 seconds to think about this.

Now ask yourself, what would you do if someone who you respected told you he or she knew a GUARANTEED way you could become your own boss, make 3 times as much money as you are making now, and could begin working 3 hours a day – all within 3 years.

BUT it only would work if you first committed to doing 3 things that were not easy or cheap.

1. You must first sacrifice some of your free time.  Meaning that instead of working 8 hours a day you will have to work 11 hours a day for the first year, 10 hours a day for the second year, and 9 hours a day for the third year.  At the end of the 3rd year you will be able to work for only 3 hours a day.
2. You must also invest ½ of your savings before you begin.  This means ½ of everything you have saved from your current job, and ½ of whatever other investments you have on the side.
3. You must be willing to learn actively everyday for the next three years.  This means that you need to keep an open mind, be creative, and be prepared to change the way you do things if they are not working.

Would you accept this offer? Does it sound too good to be true? What if instead of being guaranteed, there was a 90% chance of success?  80% chance? 70% chance? 50% chance?

This Offer is Waiting For You

The truth is millions of people around the world have accepted an offer similar to this one already, and it has been a proven road to success and freedom for hundreds of years.

Hard work, placing an investment in yourself, and being willing to learn and adapt every single day; this is the path of the entrepreneur.

In a capitalist society, starting your own business is proven to be the quickest way to attain wealth and freedom.  For some it an easy choice to make, and they make it early in their lives, for others it may take years of mediocrity before they are fed up with the endless grind and decide they want to strike out on their own.

 

What Is Holding You Back?

 

Think about your life, what is holding you back from starting a vending business to attain financial success and lifestyle freedom?

If your answer is that it is too difficult, you are not talented enough, or you are scared that you will fail; you need to focus on eliminating these limiting beliefs.

Everyone who has started a business before you has felt the same way, and has fought past these beliefs to become successful.  They have all thrown away their imaginary safety nets and taken action.

Do you think Bill Gates was completely confident that dropping out of Harvard, investing all his money in himself, and working tirelessly to create a product he didn’t even know would succeed was going to lead him become the world’s richest man?

Absolutely not.

He confesses that it was one of the hardest decisions he ever made.  He stressed and toiled about the choice before finally making a decision and choosing a new path for his life.  His parents voiced their concerns against dropping out, and even though he “loved college”, Bill Gates and Paul Allen, “wanted to be among the first to start a business to write software for this new generation of computers.  We were afraid if we waited, someone else would beat us to it.”  The rest is history.

Gates is the ultimate entrepreneur.  He found an idea he believed in, made a commitment to it by throwing away his imaginary safety net, and got started right away before someone else beat him to it.  That right there is good business.

Before anyone can be successful they need to make a choice to commit to hard work and creativity, invest in themselves, and eliminate any limiting beliefs that will hold them back.  The only difference between you and a successful entrepreneur is they have already have taken these steps a long time ago…

Check out this video below that offers tips for clearing away limiting beliefs:

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Silly Motivational Video of the Week

While we are serious about entrepreneurship here at HUMAN, we also strive to have a good time.  Every once in a while we come across something that makes us laugh and gets us ready to “crush it” at the same time.  I think that is what we have found here.  If you have ever seen the movie Miracle, you will know what this is from…

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Send Tips, Comments, Suggestions, or Jokes to crushitreport@healthyvending.com

skelly

Biomedical Engineer who earned his degree from The Johns Hopkins University & Columbia University. Named one of Forbes’ Top 30 Under 30 in 2013. Co-Founded America’s first Pure Play healthy vending company in 2003.
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