Viewing posts from October, 2012

1 year, 10 months ago

Individuality vs. Egocentrism

In the United States there are a lot people who mistake egocentrism for individuality. Naturally, in a country founded and built by immigrants from different parts of the world, we hold our identities in high regard. As we should. Defending our individuality is a crucial part of the "American Dream". How else does one separate themselves from the herd?

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Zacharia Lorenz - Contributor

1 year, 10 months ago

Pickaxe for a Gold Rush

During a gold rush in the 1800’s there were people who made fortunes. Others were left empty handed. They were too late or just unlucky, whatever the reason, they worked very hard but gained nothing. It’s likely you’ve encountered a similar situation. You pursue a great idea only to find that there have been thousands, or millions of other people who’ve done the same. There will always be situations like these and I’ve found that it is a good idea to avoid investing in these “good ideas”, but not completely.

Instead of thinking “here’s a great idea, how do I get in?”, take a moment to consider the likelihood that someone else has thought of this before you, how many before you? Is there a certain group of people who may have had access to this information before it reached your ears? Then determine the chance that one of these people acted upon this idea. If it is such a great idea then it seems likely that there are other people invested already. Is the idea as lucrative now, after estimating the competition? After considering these questions I usually find that the idea is not worth chasing. I might have also just concluded that this is a great idea and that I know for certain there will be a lot of people competing over this. So, “what product or service will someone who hears about this idea need to be able pursue it?”

There was a group of people that did very well during a gold rush, regardless of luck. They were the stall owners who sold pickaxes outside of the gold mines. They never had to mine an ounce of gold to find their fortunes. I try to apply their logic whenever I run into a gold-rush-like situation.

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Will Farley - Webmaster

1 year, 10 months ago

Making Sacrifices

Remember- Nothing good comes easy and nothing good comes without sacrifice. So that being said, what are you willing to give to make your business work? Are you willing to do whatever it takes? If your immediate answer is “no” or you begin thinking of the things that you are "not willing" to sacrifice then you should probably stick to your 9-5 job. Remember, aside from any financial reserves that you may have set aside you really do not have any safety net to catch you if you fail - and the consequences of failure can become very real, very quick. What will you do when the electricity and water gets shut off to your house because you had to use the funds to keep your business running instead of pay your utilities? Are you willing to cut back in your diet to save money to keep your business going? Are you willing to give up your social life to make your business work? Think about it, these are things that you very well may be faced with and if you are not willing to cut back on luxuries to make sure your business works when funds are short then you should probably not think about becoming an entrepreneur.

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Coy Vernon - Contributor

1 year, 10 months ago

A few key skills worth mentioning

I am going to talk about the following with the recognition that I am by no means perfect and that there are definitely areas where I need improvement. So that being said, here are my thoughts on important skills

Are you a leader? poor management is what stops most businesses from really taking off and it is what can destroy a business if it grows to a point where you can no longer manage. You have to be able to lead and motivate others to believe in your vision. Are you willing to work longer and harder than everyone else? A leader has to hold him or herself to a pretty high standard- If you are the type that is willing to let others work harder than you while you ride on their coattails then you will probably not be in a leadership position for very long. If your not a leader than you should find a partner who is.

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Coy Vernon - Contributor

1 year, 10 months ago

FOCUS

When I am talking about focus here I am not taking about short term. I am talking about the ability to maintain focus on a goal that is five years down the road. If you can only focus on short term then you will probably spend your life running around aimlessly chasing short term things that don’t really matter and while you may well achieve success it will not be at the level it could be if you just pick your goal, focus on what it will take to achieve that goal and stick with it until you make it happen.

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Coy Vernon - Contributor

1 year, 10 months ago

MOTIVATION

I cannot explain how much just knowing what motivates me helps me want to work long hours and push myself as hard as I can. For me my motivation is simple- I take 5 minutes each day to visualize places I want to go, the people I want to be with, and the things I want to do. I know that nothing would make me happier than to be able to live somewhere that I can wake up every morning and surf (even though I am horrible at it), to be able to climb Everest, swim the strait of Gibraltar, when the time comes for me to settle down to be able to provide for my family, and most important of all to be able to give back to the ones who have always been there for me- my mentors, my family, and my friends. Those are the things that motivate me to stay focused and stick it through hard times when nothing seems to be working.

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Coy Vernon - Contributor

1 year, 10 months ago

Entrepreneurship and Backpacks that Give-Back

When I started college, I had no intention of starting a business. I built my resume over my four years at the University of Arizona. I did the multiple internships that would help me land the corporate job, and I graduated with 5 different job offers. No joke. It was exactly what I wanted and exactly what I had worked for.

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Jack Hall - Contributor

1 year, 10 months ago

Performing a Solid Self Assessment

Knowing what you want and why you want it is probably one of the most important things that you can do before you choose to become an entrepreneur and you can’t really say you know what you want if you don’t really know who you are... right? fortunately I grew up a bit of an introvert and a loner so I spent the majority of my younger years getting to do a lot of self assessment, asking myself the important questions- What are my skills? Am I a fast learner, what do I want, what am I passionate about, what exactly do I want to do with my life? Asking yourself these questions can be very important - Your skills are going to make or break your business and knowing what your long term goals are- being able to visualize them clearly, so clear that you can feel them- and knowing why you want these goals is going to be very important when things get rough, which trust me they will. There will be a time when you will think to yourself “why am I doing this? I can barely afford dinner after paying my bills, I could easily go get a job and cover my expenses with the income from a 9-5 type job” but if you cannot answer the question why you are doing what your doing then you will probably find it easier to let your business fail.. But knowing why you are doing what you are doing and being able to visualize in depth what your goals are will help you dig deep and hang on when things are tough. So take a few hours, write down a list of things that you want long term, whether its a family, to be able to provide for those you care about, to be able to travel, provide a better service for people, bring something unique to your community or whatever. And then write down why you want what you want. Once you know what you want and why you want it, then you can really begin to implement a strategy to achieve those goals.

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Coy Vernon - Contributor

1 year, 11 months ago

Why I am writing this blog

My goal in writing this blog is to share the events that I have experienced and the lessons that I have learned as a result of choosing the road of being an entrepreneur. Everything that I will be writing about is based on my own experience and because of that it will be biased because it is based on my own perception of events. That being said I want to leave it completely open for anyone to comment and share your experiences and input your own thoughts with the goal of helping other entrepreneurs avoid mistakes that myself and others have made and provide motivation to continue down the road of becoming an entrepreneur- which can get lonely really fast when times get hard and trust me- they will.

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Coy Vernon - Contributor
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