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THE DOOM CLOCK.........start your business and you start this clock.......

By Richie Alan Naggar

Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

September 28, 2010 02:13 AM

Many entrepreneurs who are just starting out do not realize certain dynamics that are present. Some are dormant, some are lying in wait, but all come alive once you start your business. Oh, you have dreams and visions and mean well, but there are some vicious statistics awaiting you in regards to failure.....

YOU GOT 6 MONTHS TO LIVE.....MAKE IT COUNT

Most businesses go under within 6 months. They either run out of money, or their planning fails, or they fail period or they fail to properly execute their business plan....the list is endless on how to fail...thus the famous entrepreneurs "elephants grave yard" where all great ideas go to die....

THE OPERATION WAS A SUCCESS.....BUT THE PATIENT DIED.....

I have started numerous different businesses from scratch on my own. I have worked for corporations and small companies. The rules to succeed or fail are no respecter of persons.....You gotta fight for your right to live in the business world and do it on the clock......the doom clock

Every business person who has ever started a business is hoping to find the formula that sustains him and keeps the doors open.

Everyone means well. They feel good and get excited. Their family and friends support them and if others can do it, so can I.......is their mantra. Add time, money, inexperience and well meaning....and you will get an answer to the question of.... WILL I MAKE IT ?.....perhaps one you were not expecting to hear.....

START-UP.....THE COUNT DOWN

You are on a countdown to fail from the day you launch. Things come against you not singling you out mind you, but testing your abilities to survive. To see how bad you want to live. They will test you to your limits:

Your competition is watching you and imitating your moves. They want you to fail....quickly

Your money to pay bills, salary, and expenses is vaporizing. You will need income at some point.

Your product or services have to be tweaked and perfected constantly until they fly.

You have to monitor and manage your affairs daily, weekly, monthly, until they stand up on their feet. THINK: Hands on....Beat feet. Anything less than this......the doom clock calleth for you

Your idea's are going to be tested. Be ready to make change or stand your ground. Wont know which one until you get there. Lower prices...? Stand firm..? Up the ad expenses..? Better signage? .....endless

Wild cards exist like...bump in insurance rates, bad locations that looked good, economy failures, acts of God, neighborhood dynamics, competition, cost of goods, and people just don't agree with your version of what you-are doing. The legend in your mind vs the legend in their time.....which one will prevail..?

Everybody thinks their idea is the best. The one that will go to the top.The fortune maker. It really matters more what everyone else thinks...not you. I reminded of this when you see movies that should have been sold out but weren't, and restaurants that come and go but hot dogs, hamburgers, and french Fry's live on.

DISTRACTIONS ARE....... THE KISS OF DEATH......

Spend too much time on anything (good or bad) other than your business and you will find yourself instantly feeding the doom clock. You must stay focused, driven, and on track with your idea no matter what comes up to pull you a way from it. Can you finish what you start? Can you beat the doom clock...? Everyone says yes,...... statistics say NO

MAKE FRIENDS WITH ......DONKEYS AND DOGS.....CAUSE YOU ARE GOING TO HAVE TO WORK LIKE ONE

Every business that enters start-up is going to find out things very quickly. How you respond will determine whether you beat the doom clock or it claims you as another statistic.

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Michele Miller ~ REALTOR®, LMC, HSE, CHS, SRES, CMRS

ERA Key Realty~Worcester County Realty Group - Worcester, MA

'Helping You Make the Best Move"

Richie,

Great information! My family had a very successful printing company in that late 80s and I saw that it took lots of work before the startup as well.

Sep 28, 2010 02:17 AM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

I agree that you're competition is watching you. I think actually most of your competiton is not watching you. They don't even know you exist...until you start to make a mark in business and in their territory. Then they watch....and expect you to fail. You can never let go. EVER!

Sep 28, 2010 02:18 AM

Bill Travis

Captain Bill Realty, LLC - Gilbert, AZ

Broker/Owner

Now, I thought all Realtors were here to support all the others by sharing information, techniques and offering tips so they don't fail :-)

Sep 28, 2010 02:24 AM

Richie Alan Naggar

people first...then business Ran Right Realty - Riverside, CA

agent & author

Michelle....There is no one to blame when you are the owner. Very sobering and things have to get done or....? Also, lots to learn when you go hands on.....thank you Michelle

Hi Larry....This dynamic of competition can help you or bury you. Depends on how you respond and what you do.....I remember seeing the same businesses right across the street from one another. They both did well. I also know of two stores that carried the same products. They were always having price wars......Running your own business is literally true......thank you Larry

Sep 28, 2010 02:28 AM

Bill....Knowing how to do things the right way and correctly are available to most anyone. Sharing things that can broadside you or ambush you is a heads-up program....Reminds me of the time I took Niacin. I heard so much about its good effects. I took it and then the flush and tingling kicked in. I thought I was going to die and began to panic. Just when I reached someone, the effects wore off and I was fine. I find out afterwords that.. this a normal reaction for this drug in everyone who takes it. Now, they even have Niacin that doesn't "flush or tingle". Very beneficial to know as much as you can about everything you are doing (preferably the downside) when going into something.....yes? The upside takes care of itself....Bill, take her up to 10,000 feet and then level off.......Best

Sep 28, 2010 02:38 AM

Tish Lloyd

BlueCoast Realty Corporation - Wilmington, NC

Broker - Wilmington NC and Surrounding Beaches

This is so spot on!!! Been there and done that and couldn't express it nearly so well. Nor, could I see the forest for the trees, because I was sooo busy trying to make it work that I didn't give myself a break by stepping back and reacting and planning accordingly -- ran it all the way to ground. Yep, that good ole' perseverance which gave me A's in school, led me to the brick wall. I'm smarter than that, just more hard-headed than smart. Feel I have to complete whatever I start regardless of the outcome. My Dad used to say I had to learn everything the hard way -- he was so right.

Sep 28, 2010 03:29 AM

Tish....your last sentence still ends on an "up note"......you still learned. People who are hard headed end up doing great things once they discover that the school of hard knocks is not necessary to graduate from....When I travel in life, I am always engaged to learn about myself while learning about others. It goes on....Thank you for your input.....and sometimes Dads are right ....yes?

Sep 28, 2010 03:36 AM

Lisa Orme

The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY - Windsor, CT

Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu

This, my friend is the most useful key in a treasure trove of information you just posted! Sometimes we can get caught on a rabbit trail and not even realize we are distracted! So important to keep the big picture in front of you, and remember that whatever your focus is on...it needs to be on income producing activities: You have to monitor and manage your affairs daily, weekly, monthly, until they stand up on their feet. THINK: Hands on....Beat feet. Wow! Excellent post! Thank you!

Sep 28, 2010 03:50 AM

Lisa....your spoke well of the angel of light who disguises himself as one thing, but is another. At the end of the day or moment, you were deceived and robbed. "Deer in the Headlights" syndrome is upon you. You comment makes this post have more meaning...for that, I am grateful. Thank you Lisa....

Sep 28, 2010 07:23 AM

THE DOOM CLOCK.........start your business and you start this clock.......

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