Posts Tagged ‘millionaire blueprints’

Once you are blue sky and sunshine clear about your exact current situation, you have drawn a time line. If you are ready to step over that line into new territory and the opportunity to achieve your dreams, unbuckle your seat belt. Yes, I do mean “unbuckle” because a new adventure is not about staying safe and secure. New ventures are about reaching for your future. You know what the past looked like and the present looks like. If either one of those results had satisfied you, you would not be reading this right now. If you are satisfied with status quo, you would not be searching for something better.

Tired of getting ready to get ready? Lets go. It is time to design your millionaire blueprint.

Since everyone has a slightly different starting point, we will set up a case study.

The person is in their mid to late 40s with at least a few years college. They have been in the corporate world for several years and just lost their job. They want to start a business of their own. They want a success plan to become self made millionaires. They have dreams of being able to travel and visit their family and friends without having to look for the “squeeze yourself in the back of the plane next to the restroom” economy seats. They want to go out to nice restaurants and look at the left side of the menu instead of the right side. They want to go shopping in new places without having to say “I can’t afford to buy anything.”

Traveling first class to new places, dining out and shopping all require money. The goal is therefore to make enough money on a consistent basis to afford their ideal life style.

Back to reality. At this moment there is a total of 50,000 available including what was a 401 K and is now a 41 K. Sad but true, it shrunk 90%. I know it seemed like a good idea at the time they invested the money. From $50,000 to self made millionaires is a wide gap.

With only 50,000 dollars, a franchise is not even a vague possibility. Many franchise businesses cost $50,000 or more just for the franchise name. Some popular franchises cost $250, 000 to $750,000. According to Gaebler.com, “In addition to the upfront franchise fee, many franchisors also require an ongoing royalty fee. This fee is assessed on a percentage basis and usually ranges around 5% or 10%. In return for paying the royalty fees, you receive the benefits associated with national marketing campaigns, ongoing training, and territory rights.”

Now add on the real estate cost to purchase or rent the space for the business location. Add on the cost of the inventory and equipment. Of course you will also have overhead: utilities, office equipment and supplies, employees, and marketing before you can even open your doors.

Entrepreneurial thinking is wonderful but it will require careful planning and execution to turn it into a reality.

Buying an existing brick and mortar business will have very similar costs. Purchase price, building, overhead, inventory and equipment, office equipment and supplies, employees and marketing.

You can start a brick and mortar business rather than purchasing an existing business. In this case, there will be more costs and a slower start because the name and business are unknown. You do not already have an established customer base.

Either a franchise or a brick and mortar business will require you to work away from home at least 5 and probably 6 or 7 days a week. Initially, there will be very long hours. I know; I have owned brick and mortar businesses.

Can a franchise or brick and mortar business be successful and profitable? Absolutely, but there is a high cost in terms of start up capital and labor hours.

In the situation of our case study, this is not an option. The monetary cost is too high. So what choice do you have if you have limited resources? Yes, there is a solution. Stay tuned for the answer tomorrow.

Come join me at www.Elaine4Success.com for assistance in designing your perfect situation.

Would you order a truck load of building materials, a backhoe to dig the foundation, and no blueprint for the structure?  Of course not, that would be foolhardy.  No one in their right mind would spend thousands on materials and equipment without a specific blueprint for success.  Most people spend months designing the perfect structure.  Building departments and homeowner associations need to approve the plans as well.  The blueprint details exactly what materials are needed and exactly how they will be assembled.  The larger or more complicated the structure, the more elaborate the blueprints.

Unfortunately it is quite common for people to start a business without any blueprint for success whatsoever.  The more common delusion follows a pattern of:

1. Buy a business on emotion.  Most people buy on emotion rather than logic.  Accountants and engineers are more likely to buy on logic and analytics; however, it is generally accepted that most people purchase on emotion.  Frank Rumbauskas of “Sales Tips and Advice” declares that “People buy on emotion and justify with logic.”  The fact that emotions overrule logic explains why experienced sales people sell based on benefits rather than selling based on features.  “Don’t tell me what it does.  Tell me what it will do for me.”
2. Now that I have a company, what do I do with it?  It is like the dog chasing cars.  It seems like fun at the time but they have absolutely no idea what to do with it if they ever caught it.

My suggestion is set your goals.  What income do you desire to make?  Set a specific blueprint for success to map out the road from where you are to your desired goal.

1. One of the major elements of your blueprint for success will be your marketing plan.  What funds do you have available for your marketing budget?  What marketing skills do you possess?  What marketing skills do you need to learn?  Marketing either requires time or money.  A small marketing budget means you had better plan on spending much more time.  Which do you have more of, time or money?  A larger marketing budget means that you can advertise in more expensive but less time consuming venues.

Social network marketing, web 2.0, is quite inexpensive financially but extremely time consuming.  Google pay per click requires far less time once it is all set up and rolling; however, it is one of the most expensive forms of marketing.

1. Once your business has been purchased, your exact path to success determined, your marketing established, and your leads flowing, you need to follow up with those leads.  Until you are consistently making 10,000 per month, I recommend following up with every leads.  Personally, I like to talk to my people so I still call every lead possible within the time frame available for prospecting.  Each lead also receives both a personal email and a series of autoresponders.  Any lead, potential business partner, who attends a business presentation also receives another follow up call and email. The serious individuals are then taken to a 3 way call for third party validation; the 3 way also assures the new individual that they will not have to answer questions when they get started.  The removal of the fear of answering questions eases many nervous minds and sweaty palms.

The blueprint for success is simply a step by step focused plan to take you from initial idea all the way through to money in your bank account.  For more specific tips and techniques or for assistance in designing and finalizing your personal blueprint for success, join me at http://www.elaine4success.com/.

“When you dare to dream, dare to follow that dream; dare to suffer through the pain, sacrifice, self-doubts and friction from the world.”

– Laura Schlessinger, talk-show host

What is it worth to you to have a reliable blueprint for success?  Think it is complicated?  Actually it is quite simple.

1. Find your passion
2. Convert that passion into the ideal business for you
3. Write out very specific, SMART, goals
4. Write a detailed business plan which takes you from your starting point to your victory line.
5. Take focused goal directed action toward your ultimate target
6. Constantly check your progress and make course adjustments on steps 3, 4, and 5 as needed.
7. Repeat until successful

Your blueprint for success is quite simple and logical; the problem is that it is not easy.

Your mind wanders to family activities, your feet wander out to the kitchen or the snack bar, and the lure of the internet tempts you to search for this or that rather than concentrate on work.

You flounder around like a fish out of water not knowing your true passion.  You spend endless hours, months and years working at something you do not like.  Why are you wasting your precious time?  Do you think you have no choice because you must make a living?  Are you paralyzed by fear of making a change?  Are you stuck in analysis paralysis?

Look deep into your soul and be objective.  If you keep doing what you have been doing where will you be five years from now?   In order to have a different result, you must do something differently.

Your blueprint for success in business is the same as your blueprint for success in your physical fitness or your weight.  You do not become physically fit by sitting on the couch watching an exercise program or reading an exercise book.  You become fit by repeatedly performing specific exercises designed for your fitness goals.  You release weight (don’t want to lose it because you might find it again) by carefully planning the right foods to pass from your hand to your open mouth and then consuming only those foods.

Finding your passion is the essential first step to the process.  What activities inspire you?  What are you doing when you feel most energized?  What are you doing when you feel the happiest?  There are specific exercises you can perform to locate your passion.  These are a start in the right direction.

The next step is converting that passion into the ideal business for you.  Is it really possible?  Yes.  That conversion is more personalized.  Locating the perfect business for your passion encompasses the passion, the initial business investment budget, the time available to work the business, the ultimate goal and the ongoing budget.  Send me a comment in the “contact Elaine” section of http://www.elaine4success.com/ so that I may assist you.  Subsequent articles will cover steps 3 through 6.

Dreams must be backed by action.  Until you back them with action, your dreams are nothing more than idle wishes and daydreams.  If you truly desire to implement a blueprint for success, your dreams must be transformed into goal directed action.

What is holding you back from achieving your dreams?  Are you living the life you truly thought you could be or would be living?  Remember when you were a child and all things were possible?  What happened to that magic and wonder?  You say life got in the way?  Work and responsibility took over and dreams were stuffed back on the shelf never to see the light of day again.  How could this happen?

In a small child’s imagination, all things are possible.  Anyone who has ever been a teenager or raised a teenager knows the “fearless factor” of youth.  We rationalize our decrease in imagination and willingness to reach above and beyond our comfort zone as maturity.  Let’s be honest.  Is it really maturity or is it more a matter of staying in our comfort zone?  Is it simply easier to stay with the status quo rather than reach out and be daring?  We get stuck in the familiar even if we do not like that set of circumstances.

The first step in any blueprint for success is willingness to leave your comfort zone.  Step two in the blueprint for success is to take positive action toward the achievement of the dream. Where would America be right now if Christopher Columbus had not gone exploring?  What if the Pilgrims had stayed in England?  What if you stayed in a job you hated just because it was easier to stay and complain than reach for your dreams?

Having a blueprint for success provides a pathway; however, you must take the action.   Columbus could dream about the voyage to America but without taking action to acquire the ships, crew and supplies, he was land locked.

A teenager can dream of attending college; however, in order for it to become reality there are a few practical steps.  Even college entrance has a specific blueprint for success.

1.  Good grades and good test scores which meet college entrance requirements.

2.  A plan to finance the endeavor: scholarship, job, parents, or a rich uncle.

3.  Apply to the desired colleges and receive acceptance.

Starting your own business also requires a blueprint for success.

1.  Determine what area creates a passion for you.  A florist shop may be wonderful for the area; however, if you are allergic to flowers or have a black thumb, it would not be recommended for you.  Find your passion and create your business accordingly.

2.  Determine what type of business – franchise, brick and mortar, or home based.

3.  Determine the initial investment you have available or can acquire.

4.  Determine your income needs and desires.  Will that business produce the income in sufficient time and quantity to sustain you both short term and long term?

Every endeavor of any significance requires a blueprint for success.  Amazing that most people spend more time planning their vacations than they do planning their financial future.

Starting a business without a blueprint for success is financial suicide.  The blueprint carefully details each and every intersection on the road to success.  Unless you have specific mile markers, how do you know you are making progress?  How close are you on your time target as well as your financial and business growth targets?  Your blueprint for success is the difference between being busy and being productive.

Without a blueprint for success, you could very easily be wandering around or even worse, going in circles.  A rocking chair can be in constant motion but it does not go forward.  A puppy dog can run in circles until he collapses in exhaustion, but he did not make any forward progress.

A blueprint for success is a methodical plan detailing specific, measurable, attainable, relevant and timely benchmarks on your road to success.  An ideal blueprint for success is personalized for you.  Some call it a goal setting worksheet.  Textbooks give excellent general guidelines but not specific personalized plans.  Designing a personalized blueprint insures your success.

Not certain how to design such a perfect plan for you?  Join me at http://www.elaine4success.com/.