Comments on: Want to start a biz? Here's what matters http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/ FSB Features Wed, 16 Dec 2009 18:30:20 +0000 http://wordpress.com/ hourly 1 By: Bill Toth, Houston, TX http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12415 Bill Toth, Houston, TX Tue, 18 Nov 2008 17:19:26 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12415 Honey bees make honey, Winners win....and Quitters quit. We never quit on a person we're coaching...and as Diane points out - sadly they will often quit on themselves, their dreams and their goals. Many of life's failures are people who did not realize how close they were to success at the very moment they gave up." --Thomas Edison Go to any med school or law school and you'll see the drop out rate in just the first few weeks is more than 50%, by then end of the first semester, first year - the number is even higher. And that's after they fought to get in! As I went thru med school I watched as people dropped out all along the way...for many reasons, some "valid", most not. Some even quit during their residency. Go figure? NOT! Stop wasting your time trying to figure out why people quit.....to them their reasons make perfect sense. It's part of their life's journey....their learning lesson(s). I've never seen anyone fail in business that kept working on themselves and their belief and just did it to death way after it looks logical to quit. It's just most people won't do what it takes for as long as it takes. for the ones that quit there's this; "Pain is temporary. It may last a minute, or an hour, or a day, or a year, and eventually it will subside and something else will take its place. However, if I quit, that lasts forever." --Lance Armstrong, Cancer Survivor and Athlete For the ones that stick with it....The Journey is the Reward...and the Freedom is worth it. Honey bees make honey, Winners win….and Quitters quit.

We never quit on a person we're coaching…and as Diane points out – sadly they will often quit on themselves, their dreams and their goals.

Many of life's failures are people who did not realize how close they were to success
at the very moment they gave up." –Thomas Edison

Go to any med school or law school and you'll see the drop out rate in just the first few weeks is
more than 50%, by then end of the first semester, first year – the number is even higher. And that's
after they fought to get in! As I went thru med school I watched as people dropped out all along
the way…for many reasons, some "valid", most not. Some even quit during their residency.

Go figure? NOT! Stop wasting your time trying to figure out why people quit…..to them their reasons
make perfect sense. It's part of their life's journey….their learning lesson(s).

I've never seen anyone fail in business that kept working on themselves and
their belief and just did it to death way after it looks logical to quit. It's just most people won't do what it
takes for as long as it takes.

for the ones that quit there's this;

"Pain is temporary. It may last a minute, or an hour, or a day, or a year, and eventually it
will subside and something else will take its place. However, if I quit, that lasts forever."

–Lance Armstrong, Cancer Survivor and Athlete

For the ones that stick with it….The Journey is the Reward…and the Freedom is worth it.

]]> By: Diane Concialdi, Fountain Valley, CA http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12194 Diane Concialdi, Fountain Valley, CA Fri, 07 Nov 2008 20:24:38 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12194 Self-discipline,a plan and a vision,along with proper marketing will help you make it. But the attitude and the decision to make it, as Dr.Toth suggests, is the most important step. You can't do anything without that first step. I am amazed at how many entrepreneurs quit before they start. Self-discipline,a plan and a vision,along with proper marketing will help you make it. But the attitude and the decision to make it, as Dr.Toth suggests, is the most important step. You can't do anything without that first step. I am amazed at how many entrepreneurs quit before they start.

]]> By: Jon MacManus, Salida, CO http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12175 Jon MacManus, Salida, CO Thu, 06 Nov 2008 04:49:58 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12175 I think the most important things to know about starting your own business is first to find a business that has low overhead, learn to be the very best at it, ask a fair price for it (for you and your customer), only try to compete on quality not price. Remember that your customer is #1 not you, employees are expensive and should be avoided unless absolutely necessary. I think the most important things to know about starting your own business is first to find a business that has low overhead, learn to be the very best at it, ask a fair price for it (for you and your customer), only try to compete on quality not price. Remember that your customer is #1 not you, employees are expensive and should be avoided unless absolutely necessary.

]]> By: Brian Javeline, Pompano Beach, FL http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12172 Brian Javeline, Pompano Beach, FL Thu, 06 Nov 2008 03:01:52 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12172 There one thing is a mix of many things. An entreprenuer needs to have strong communication skills, passion, determination, an ability to sell, an ability to manage and above all, a determination to succeed at all costs. Entreprenuers have the luxury of always working a 50 hour week or more, especially in the beginning. The rewards for success are not just measured based on money (but that is nice), but also pride and freedom to make it happen. I have built multiple companies that originated from nothing other than an idea on a napkin and I would never have lived life any other way. Most people follow others while entreprenuers set the stage for others to follow them. Currently my ambition is to solve Joe The Plumber's (and all other contractors) challenges as opposed to waiting on the government to help small businesses. Come check my new startup out at www.MyOnlineToolbox.com There one thing is a mix of many things. An entreprenuer needs to have strong communication skills, passion, determination, an ability to sell, an ability to manage and above all, a determination to succeed at all costs. Entreprenuers have the luxury of always working a 50 hour week or more, especially in the beginning. The rewards for success are not just measured based on money (but that is nice), but also pride and freedom to make it happen. I have built multiple companies that originated from nothing other than an idea on a napkin and I would never have lived life any other way. Most people follow others while entreprenuers set the stage for others to follow them. Currently my ambition is to solve Joe The Plumber's (and all other contractors) challenges as opposed to waiting on the government to help small businesses. Come check my new startup out at http://www.MyOnlineToolbox.com

]]> By: David Frantz http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12169 David Frantz Wed, 05 Nov 2008 21:08:35 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12169 Fire in your belly: 30 % Fed tax, more with alt min tax, 15% FICA, 6% PLUS in state income tax 8 % in various tax grabs such as FUTA,SUTA,Sale taxes on asset purchase , use taxes, regulator fees permitting fees Thats 59 % of YOUR labors taken from YOU right off the top!!!! And YOU are the one taking the RISK and doing the WORK! AmeriKA is FINISHED! Deal with it! Fire in your belly: 30 % Fed tax, more with alt min tax, 15% FICA, 6% PLUS in state income tax 8 % in various tax grabs such as FUTA,SUTA,Sale taxes on asset purchase , use taxes, regulator fees permitting fees Thats 59 % of YOUR labors taken from YOU right off the top!!!! And YOU are the one taking the RISK and doing the WORK! AmeriKA is FINISHED! Deal with it!

]]> By: Nick Giammusso VIPseats.com http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12163 Nick Giammusso VIPseats.com Wed, 05 Nov 2008 00:34:15 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12163 You have to identify an opportunity, set goals and most importantly have a passion for what you're doing. Your business becomes intertwined with your life so you better enjoy what you're doing! You have to identify an opportunity, set goals and most importantly have a passion for what you're doing. Your business becomes intertwined with your life so you better enjoy what you're doing!

]]> By: Marc Frey, Hilton Head, SC http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12162 Marc Frey, Hilton Head, SC Tue, 04 Nov 2008 19:10:30 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12162 You have to be really good at what you do, in order to achieve that greatness in your business you need to have a real passion for the subject! You have to be really good at what you do, in order to achieve that greatness in your business you need to have a real passion for the subject!

]]> By: Howard - Cleveland http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12161 Howard - Cleveland Tue, 04 Nov 2008 18:49:12 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12161 A combination of several factors ... a differentiated value proposition, work ethic, a dream and LUCK. Being at the right place with the right product/service and catching that wave is what it is all about ... oh yes, good financial management is essential to cash flow, which IS your life blood. A combination of several factors … a differentiated value proposition, work ethic, a dream and LUCK. Being at the right place with the right product/service and catching that wave is what it is all about … oh yes, good financial management is essential to cash flow, which IS your life blood.

]]> By: Richard, DF, Mexico http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12160 Richard, DF, Mexico Tue, 04 Nov 2008 18:48:36 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12160 Planning, planning. If your idea is good, chances are there will be a growing number of competitors too. What are you going to do to be a step ahead of your competitors? The one who finds the answer will be given a prize. The good news is, the world is complex enough to give everyone a chance. Planning, planning. If your idea is good, chances are there will be a growing number of competitors too. What are you going to do to be a step ahead of your competitors? The one who finds the answer will be given a prize. The good news is, the world is complex enough to give everyone a chance.

]]> By: Osullivanstudios.com http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12159 Osullivanstudios.com Tue, 04 Nov 2008 18:25:38 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12159 The most important thing (besides drive) that I have seen in my own experience as well as the experience of other small business is developing a product or service that other people want and are willing to pay for it. I have seen a few businesses attempts fail simply because the owner(s) worked really hard on what they wanted the business to be instead of listening to their clients and trying to figure out some way to provide them with some sort of value. The most important thing (besides drive) that I have seen in my own experience as well as the experience of other small business is developing a product or service that other people want and are willing to pay for it. I have seen a few businesses attempts fail simply because the owner(s) worked really hard on what they wanted the business to be instead of listening to their clients and trying to figure out some way to provide them with some sort of value.

]]> By: David Frantz http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12157 David Frantz Tue, 04 Nov 2008 15:45:25 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12157 Watch how fast the 'fire in your belly' is put out when you are 'rewarded' for your hard work with: 30 % plus in Fed income tax, pay even MORE with the Alt min tax, 15 % in FICA tax 6 % plus in state income tax, 8 % in various Gov't money grabs such as FUTA, SUTA, regulatory fees, permitting fees, business property tax, sales taxes on asset purchases, fuel taxes, 'use taxes', Take note this is the up front money grabs by the GOVERNMENT! this is your REWARD for PRODUCING! I got out of TOTAL debt I have cut WAY BACK on spending & PRODUCING I only work a day or two now...if even THAT! Enjoying MY life going DEER hunting today The Govt can find some other SUCKER to produce and be made a FOOOOL of! WAKE UP! Watch how fast the 'fire in your belly' is put out when you are 'rewarded' for your hard work with: 30 % plus in Fed income tax, pay even MORE with the Alt min tax, 15 % in FICA tax 6 % plus in state income tax, 8 % in various Gov't money grabs such as FUTA, SUTA, regulatory fees, permitting fees, business property tax, sales taxes on asset purchases, fuel taxes, 'use taxes',

Take note this is the up front money grabs by the GOVERNMENT! this is your REWARD for PRODUCING!

I got out of TOTAL debt I have cut WAY BACK on spending & PRODUCING I only work a day or two now…if even THAT! Enjoying MY life going DEER hunting today The Govt can find some other SUCKER to produce and be made a FOOOOL of!

WAKE UP!

]]> By: Phil http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12155 Phil Tue, 04 Nov 2008 15:13:01 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12155 As one who took that fire in the belly and made it a reality, I'll tell you what matters - luck! Ya that's right. I started a travel business after the boom of the late 90s only to open the doors the day before 9/11. I had the "others" investment, I had the vision, the right product, the right people. I didn't have the luck that would have made all the dreams come true. Despite no luck, the company grow even with wars, SARS, Bird Flu scares, etc. In the end, the company was forced to close as the American dollar soured to less than half the value of the Euro. I hate to be a pessimist to all those budding entrepreneurs, but I can tell you first hand - Sometimes when it's all on you, other things happen that are out of your control. You can only do so much when all of the variables are against you. How do you think the business climate looks today? Good Luck and hope you have the stomach to stick out the hard times. There's no better feeling than being able to steer the ship even when the perfect storm is on the horizon. . . As one who took that fire in the belly and made it a reality, I'll tell you what matters – luck! Ya that's right. I started a travel business after the boom of the late 90s only to open the doors the day before 9/11. I had the "others" investment, I had the vision, the right product, the right people. I didn't have the luck that would have made all the dreams come true. Despite no luck, the company grow even with wars, SARS, Bird Flu scares, etc. In the end, the company was forced to close as the American dollar soured to less than half the value of the Euro. I hate to be a pessimist to all those budding entrepreneurs, but I can tell you first hand – Sometimes when it's all on you, other things happen that are out of your control. You can only do so much when all of the variables are against you. How do you think the business climate looks today? Good Luck and hope you have the stomach to stick out the hard times. There's no better feeling than being able to steer the ship even when the perfect storm is on the horizon. . .

]]> By: James Mason Lexington, KY http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12153 James Mason Lexington, KY Tue, 04 Nov 2008 13:06:13 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12153 I agree with the anti-small business in the USA right now. I have never worked for anyone but myself, my businesses have always made money and have almost always stayed out of debt,but because it is so hard to maintain a business when you have to deal with and against all the corporations, I went on my first job interview EVER the other day and I am depressed about it, but I just dont feel like I can compete with corporations in a bad economy and I have a family to feed. When we all work for Wal-mart, I call dibs on the door greeter job. I agree with the anti-small business in the USA right now. I have never worked for anyone but myself, my businesses have always made money and have almost always stayed out of debt,but because it is so hard to maintain a business when you have to deal with and against all the corporations, I went on my first job interview EVER the other day and I am depressed about it, but I just dont feel like I can compete with corporations in a bad economy and I have a family to feed. When we all work for Wal-mart, I call dibs on the door greeter job.

]]> By: Anonymous http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12145 Anonymous Mon, 03 Nov 2008 17:46:49 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12145 I agree 100% with Ken Blanchard. I am an employee, but I have fire in my belly to own my own business. thats being productive, thats benifitting your economy. Several big businesses today(including the web gaint Google) are started by enterprenuers. Just becuase some people fail by not being focuessed we shouldn't discourage enterprenureship. I agree 100% with Ken Blanchard. I am an employee, but I have fire in my belly to own my own business. thats being productive, thats benifitting your economy. Several big businesses today(including the web gaint Google) are started by enterprenuers. Just becuase some people fail by not being focuessed we shouldn't discourage enterprenureship.

]]> By: Roy Adams-Wichita Falls,TX http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12141 Roy Adams-Wichita Falls,TX Mon, 03 Nov 2008 16:16:34 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12141 A CPA or attorney will not want to lose a client by challenging decisions. Bankers are in business to make loans. I've seen more buyers and sellers of small businesses have problems because of the above professions not looking out for their clients than from bad ideas. I also agree that unless you're in a very unique niche the Wal-Mart effect is accurate. It's called Public Money versus Private Investment. Hard to compete. A CPA or attorney will not want to lose a client by challenging decisions. Bankers are in business to make loans. I've seen more buyers and sellers of small businesses have problems because of the above professions not looking out for their clients than from bad ideas. I also agree that unless you're in a very unique niche the Wal-Mart effect is accurate. It's called Public Money versus Private Investment. Hard to compete.

]]> By: Larry Trink, Princeton Jct., NJ http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12140 Larry Trink, Princeton Jct., NJ Mon, 03 Nov 2008 15:46:31 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12140 Getting to a critical mass quickly, so that you can weather bad breaks and down cycles is critical. We lost our largest client a few months before 9/11 and weren't able to replace it during the steep down cycle theat ensued. This double whammy eventually led to draining financial assets along with my entrepreneurial spirit. You have to pursue and achieve scale on an accelerated timetable to be sustainable. Getting to a critical mass quickly, so that you can weather bad breaks and down cycles is critical. We lost our largest client a few months before 9/11 and weren't able to replace it during the steep down cycle theat ensued. This double whammy eventually led to draining financial assets along with my entrepreneurial spirit. You have to pursue and achieve scale on an accelerated timetable to be sustainable.

]]> By: Max Weber, Cary, NC http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12138 Max Weber, Cary, NC Mon, 03 Nov 2008 15:33:52 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12138 Dude criticizes small businesses but fails to point out how anti-small business the USA is today. First and foremost, million and billion-dollar contracts go to large corporations. The government's "small business setasides" are also available to large businesses. In fact "small business set asides" is a code-word for "minority setasides" as anyone in purchasing for a major company can tell you (if bid is within 10% the minority gets it). The state, county, and city tax and other laws make it prohibitive for the small-time entrepreneur to do most businesses in the USA. Unless someone has $50,000 startup capital or is ableto get a serious loan, one cannot even roof houses or sell baked bread. These are just facts. The System us very anti-small business in the USA. Probably why something like 80% of all revenue goes to the Fortune 1000. Dude criticizes small businesses but fails to point out how anti-small business the USA is today. First and foremost, million and billion-dollar contracts go to large corporations. The government's "small business setasides" are also available to large businesses. In fact "small business set asides" is a code-word for "minority setasides" as anyone in purchasing for a major company can tell you (if bid is within 10% the minority gets it). The state, county, and city tax and other laws make it prohibitive for the small-time entrepreneur to do most businesses in the USA. Unless someone has $50,000 startup capital or is ableto get a serious loan, one cannot even roof houses or sell baked bread. These are just facts. The System us very anti-small business in the USA. Probably why something like 80% of all revenue goes to the Fortune 1000.

]]> By: Dr Bill Toth, Houston, Texas http://fsbfeatures.blogs.fsb.cnn.com/2008/10/31/want-to-start-a-biz-heres-what-matters/#comment-12133 Dr Bill Toth, Houston, Texas Mon, 03 Nov 2008 12:43:02 +0000 http://fsbfeatures.wordpress.com/?p=441#comment-12133 For 10 years I've coached startup entrepreneurs from all walks of life and and from age 16 up to age 92. The difference between success and failure is how much "Fire in the belly" along with discipline and a long term vision. Those who decide to make it...DO. Live With Intention, Dr Bill Toth Success Coach CreateYourFate.com 1-888-891-4878 For 10 years I've coached startup entrepreneurs from all walks of life and and from age 16 up to age 92. The difference between success and failure is how much "Fire in the belly" along with discipline and a long term vision. Those who decide to make it…DO.

Live With Intention,
Dr Bill Toth
Success Coach
CreateYourFate.com
1-888-891-4878

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