Developing The Winning
Entrepreneur Mindset
 By
Ken Evoy,
CEO SiteSell Copyright © 2007
Fast, faster, fastest... instant gratification is the
name of the game. They want overnight success ("before breakfast" preferably!).
But that is simply not part of building a business from scratch. A real business
takes time and effort.
Yes, even online ones. So many Net Entrepreneurs somehow think that the Internet
suspends fundamental laws of the business world. While building a business
online does involve less risk (you don't have to mortgage your house!), it
still takes real "sweat equity" to build a business that generates long-term,
ever growing profits.
I had an interesting conversation with a friend, a successful Montreal real
estate developer, the other day. She wanted to start a site that would make
her company the "Montreal real estate development" epicenter, connecting
international investors with local developers.
Great idea. Tight niche. Winnable. High Return On Investment monetization
models.
"So Ken, how long would it take?"
"About 3 months to start seeing some traffic, 6 months to be growing solidly,
and you'd be well known in a year. In 18 months, you would absolutely own
that space. You would be the "go-to" person for Montreal developers to sell
their projects internationally, and vice-versa you would also be the entry
door for international investors looking for strong opportunities in
Montreal."
Her reply? "That long???"
"Well, maybe faster if you put 20 hours per week into it, but let me ask
you something. Consider the last real estate development you did..." "How
much money did you make while looking for a property, finding it, optioning
it, clearing all the legals, and then closing on it?"
She answered... "Nothing, of course."
"It cost you time and money, right? And how much did you make when you broke
ground and dug the hole?"
"Uh, it actually cost us quite a bit." "And did you make a lot while pouring
cement and building the structure?"
Silence.
"And how much money did you make while doing all the finishing work?"
Chuckles.
"How about while advertising and promoting, yet all you could collect was
deposits?"
She answered, laughing... "OK, OK, OK... I get it. Actually, we're 3 years
in and we're finally at break-even, Ken. And when we sell the final units,
we make our money."
"Yes, and then you have to start all over, because there's no more money
to be made from that development. Your Web site, however, will keep on earning
and growing and earning some more. It's a brilliant concept, but the basic
laws of business still apply to the Internet, albeit with far less financial
risk. You have to invest to build the foundation for future rewards."
Bottom line?
Owning and building a business, whether it's online or offline, takes work,
especially in the first few months. Develop what I call "The Winning Entrepreneur
Mindset"...
Realize that you invest time (at less than minimum wage) and energy upfront
now to build what will be a thriving business that yields long-term, ever
growing dividends later. You are not a 9 to 5 employee, sitting in your safe
little cubicle, earning your safe little paycheck (although you can keep
that job while building your online business).
You will make as much money as you deserve, through the sum of all your good
decisions and hard work. The harder and better you work, the sooner will
your Web business yield profits. Long-term profits that grow steadily and
that ultimately enable you to quit that day-job and earn you more "per hour"
than you could have dreamed.
Be a tortoise-entrepreneur...
"Slow and steady" wins the race.
Ken Evoy's
Blog
About the Author:
Ken Evoy is the CEO of SiteSell Inc. He is the author of many FREE E-books
about online marketing including
Make
Your Site Sell,
The
Affiliate Masters Course, and
Make
Your Content PREsell and many others. SiteSell's flagship product
Site
Build It! has been used by over 100,000 customers to not only build
Web sites but to build successful online businesses.
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