Empowered Wealth Bible Give Away Rights Ebook

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Chapter 5: Traditional Planning vs. New Age Ideas

Synopsis

Traditional business planning involves getting the market research properly before anything else is done. Problem is how do you research new?

By definition, innovation, the foundation of the entrepreneur’s actions, is something that doesn’t currently exist. What was the desktop computer market’s size when Bill Gates made a decision to put one on each desk? He saw what didn’t exist that is why it’s impossible to investigate and document. In addition, entrepreneurial opportunities usually emerge in markets of great change and turbulence making it almost impossible for things to remain still long enough to be investigated.

Entrepreneurs get their best market research from starting in a semitest approach and adjusting to the market as it reacts to their new endeavor’s offer.

New Ideas

The traditional business plan also asks you to sit down as well as plan out the next three to five years and explain carefully the developing series of events. Those who have actually started several new ventures know that you’re flat out getting the first three to five months properly, let alone the next three to five years.

Experienced entrepreneurs understand that there are just a lot of variables in resources, product development, market acceptances and the entrepreneur themselves to predict comprehensively and meaningfully the traditional three to five years business plan's outlook. Experienced entrepreneurs will trust more in their capability to adjust to the changing environment instead of implementing the comprehensive instructions of a prepared plan basically made in ignorance.

Besides, opportunities won’t wait. It’s going to take you around three to six months to create a traditional business plan. Now, if your opportunity is ready to wait around for you, then good, but more than likely, that opportunity you’re researching has already been taken advantage of by another entrepreneur who realized that timing was everything. They know that the window of opportunity is extremely fleeting and without the pro-active and timely action, it’s lost forever.

If you’re a serious candidate for launching a new business enterprise and not only a dreamer, then in some way you already have a business launch that’s in play with your trial offers to in-house consumers and your prototypes. The majority of entrepreneurial text books agree that more than 70 percent of successful entrepreneurial ventures are started by present domain experts who’ve directly experienced a particular problem for which they’ve come up with an excellent solution.

They don’t rely on the traditional plan that much as they are more than likely to employ their insider knowledge, strategic alliances and experience to firstly assess the opportunity and take it to market through their extremely accessible distribution channels.

There’s also very little flexibility in traditional business plans. It’s introduced as a one-size-fits-all when obviously, it doesn’t.

Traditional planning is a corporate tool basically made under a risk avoidance mindset, which is the opposite of what an entrepreneur’s viewpoint in the planning process is. The latter’s outlook is from a risk management one.

The simplicity of business entry through the internet has made the price of being mistaken of little consequence. Through online marketing, business websites and other new age ideas, services and products can be tested and tried before any major commitment of resources. This permits entrepreneurs to modify their business model to meet market demands and needs.

A lot of new business enterprise hopefuls focus on making the perfect business plan wherein they should be focusing on making the perfect cash flow. There are far more credible methods that they could adopt such as a website gathering email addresses of customers interested in your products or services, customer testimonials and lists and prototypes already within the market under limited release.

It’s also very possible that the planning process is in fact counterproductive for the entrepreneur as it can create a paralysis from too much investigation. What is needed and what most thriving entrepreneurs provide is action - making what they want happen.

Now, smart entrepreneurs, while agreeing to reduce the importance of writing a traditional business plan, won’t abandon the planning process all at once. They’ll just approach it from an outlook that best conveys the way in which they expand and take advantage of their opportunities.

Chapter 6: What Does Empowerment For Wealth Mean To You (How to Set Goals)

Synopsis

Wealth is described as the value of everything you have minus debts. A well-off person is defined as someone who’s capable of living comfortably for at least five years without working.

Not every person during his lifetime may become rich, but you can be financially empowered. What does empowerment for wealth mean to you? Financially empowered is about being in control of your money, spending your finances responsibly, buying needs more often than purchasing wants and setting goals for the future.

The Goals

Are there still lots of things you want to achieve? Do you want to become successful, but just don’t know where and how to start? You might have a wealth mindset, but don’t have the passion. Perhaps you keep putting your effort and time into things that are actually not useful in chasing your goals. There are many ways on how to achieve what you really want.

There’s one thing that’s very essential among others and once you keep wasting it, there’s no way to get it back - time. If you believe that you’re working hard to achieve your goals and still you’re not seeing any result of your hard work, don’t waste time. Instead, act quickly and try another approach before it is too late.

Did you notice how clever famous businessmen and rich people are? Through acquired expertise and hard work, they’ve perfected the particulars of their investments and business dealings. Once they understand they're not getting anything, they don’t waste time, but instead act fast. They never stop until they find their way back in the best position and they definitely know when to react.

Negative and positive attitudes affect one’s viewpoint in life. The way a person acts and interacts with people around him/her or towards a particular issue affects and reflects his/her decisions in life. Optimistic people believe in themselves, making them capable of overcoming all difficulties. To attract wealth, you should have a mental attitude that sees every good thing around you as well as makes you look forward to positive results from the actions you’ve undertaken to chase those goals. Positive minded people believe in their skills and don’t get discouraged easily.

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