iamned.com

You have nothing to lose!

To begin, the title is misleading. You have a lot to lose when starting a business. First you can lose the capital you invested in the business, and then there are opportunity costs. In economics, opportunity cost, or economic cost, is the cost of something in terms of an opportunity forgone. For example, if you decide to quit your job to become an entrepreneur you lose your monthly pay, which is an opportunity cost.

How many times have you thought about opening your own business? 5 times, 10 times, 100 times? Today is your day. Stop letting your dreams collect dust, and choke us all to death when you dust them off with I coulda, shoulda, and other high school has been rants! After all the worst thing that could happen if your business fails is that you have to go and find a job or go back to the job you were unhappy at. Starting a business will only increase your skill set, enhance your resume and increase your chances of success in the future. Plus its cool, fashionable, and profitable!

Um it is a well-known statistic that most small businesses aren’t profitable, but fail. It is also very reckless to assume you will be re-hired at your old job if your business goes up in smoke.

Here are the facts or as I like to say a crash course in reality!

Two-thirds of millionaires are entrepreneurs, according to Thomas Stanley and William Dank, authors of The Millionaire Mind.

You receive not only a salary, but also a lot of money if you sell your company or take it public. Or did you want to be “comfortable???? Comfortable is working at a job for 40 years, having just enough retirement to last about 5 years, then having to choose between going back out in the workforce at age 70 or eating cat food!

An example of a faulty statistic that omits key information. While Two-thirds of millionaires are entrepreneurs, the odds of an entrepreneur becoming a millionaire is much smaller.

Operating a profitable business in the long term is less risky than being an employee in the long term. Business owners are the last people to go down with a ship if business turns bad. Or is your ambition to be another corporate employee victim, losing your 401K after the top executives decide to give themselves a no interest 300 million dollar loan or cash out their millions in stock?
So what does it take to be a successful entrepreneur? Glad you asked:

Um he is referring to the enron blowup, which is an example of an ‘appeal to fear’ argument. The vast majority of large coprporations are trustworthy. The odds of an enron type implosion are very small.
• Self-Control – You can’t buy every computer application, hire every consultant, go out partying all the time or watch TV during business hours, you need self control! Especially for those of us looking to strike it rich in the platinum mines of Web 2.0. There are a ton of distractions on the web and the most successful out there have control and focus. Do you?

Dammit now he tells me. Why did I waste my money on those eight copies of Microsoft Office Suite 2008 and those thirteen consutants?

• Self-Confidence – You have to tackle ALL your problems immediately with confidence and persistence in your pursuit of your company’s objectives. If you are a chicken in the world of business, prepare to be some savvy wolves dinner as they devour your next great idea.

More vague, inarticulate statements.

• Sense of Urgency – You must have drive and high energy levels, be achievement-oriented, and be tireless in trying to achieve your goals. Things change fast on the internet, I mean like by the hour or minute ! So in order to cut it here you gotta strike quick, cash in and reassess the plan. You can learn plenty of that right here at JohnCow.com. Cash Cows can run fast, if you wanna milk it you have to be on your toes partner!

Restates the obvious again. You have to be achievement-oriented to succeed in business? What a revelation.

• Realism - Entrepreneurs accept things as they are and deal with them accordingly. They may or may not be idealistic, but they are seldom unrealistic. Look don’t come out the gate thinking your gonna strike a deal of myspace, google, or yahoo proportions out the gate. Know what you don’t know.

Nah, I prefer to remain oblivious.

• Emotional Stability - Entrepreneurs have a considerable amount of self-control and can handle business pressures. They are comfortable in stressful situations and are enthralled rather than discouraged by setbacks or failures.

If losing money and working for no pay is enthralling, then you’re cut out to be an entrepreneur.

Still need inspiration? Stick around, we are just starting to have fun at the Cow!

PS: If you have any specific areas you want me to address in the future, feel free to drop us a comment and ask the questions! Would love to tackle them next session. Until then milk the cows!

No thanks. I’ll pass.

Ephren W. Taylor, II is a socially conscious serial entrepreneur. A millionaire by the age of 16, the now 25 year old multimillionaire is one of the youngest CEOs of a publicly traded company ever. He is considered by many the Warren Buffet of the Hip Hop Generation. Also he is the author of the upcoming bestselling book (link clipped). Ephren currently travels the country working with you and communities helping them to become self sufficient through creative financial wealth engineering. Ephren currently resides in Kansas with his wife and 2 kids.

If someone this vacuous can become CEO I should be a prime minister or pope before my 30th birthday. Socially conscious serial entrepreneur? I guess that makes us all baby seal clubbing, kitten killing, republican voting, meanines who push crippled people down flights of stairs. Hip hop generation? LOL. Here is the totality of a hop hop song: I [fill in the blank] (bitch-slapped, pimped, fucked,) dat [blank] (whore, bitch, slut)