As a startup owner, do you have what it takes to make your business venture a successful one? Do you understand the importance of market research and 2 ways in which you can avoid suffering huge financial losses before you launch your new products or services.
In Episode 028, Jack has invited David Selley, the Founder and CEO of International Entrepreneurs Association to share the key factors to help you become a successful entrepreneur and explain why doing market research is mission critical. David also shared two ways that help you avoid suffering huge financial losses before launching your products to the market.
Mission of the International Entrepreneurs Assoication
"I'm of the belief that you cannot teach something you haven't done. We have a disruptive business model as much as that no one has ever done what we're doing and it will allow people that are either trapped and they can't get out of their job because they don't have the money to go to college to learn. Many times from a professor who has not done what he's teaching. There lies the crux of the core, basically the fulcrum of our program and that is to teach people at the grassroots level, as you said, via a network of executive directors in each country."
How to describe the road of entrepreneurship?
"If you're going to be an entrepreneur or you want to be an entrepreneur, you must be prepared for some rocky roads because as I always say from stage (and I'm in the speaking business as well), the road of entrepreneurship is paid with loneliness, be prepared for criticism, even from family members that that's a bittersweet pill because they want you to be successful, but if you've tried and tried and tried again, you must be prepared to fail and learn from those mistakes and then move forward."
Should you quit your job before venturing to business?
"If you have a job, honour your responsibility with a job to people that are paying you to get the job done. Don't be sitting here daydreaming all day about your project or whatever it is that you've invented or whatever it is that's going on from an entrepreneurial standpoint, but you can plan with proper planning ... You don't want to sacrifice your job while you're doing that and don't quit early. I've done that a number of times and it's not a smart thing to do because if you have responsibilities, most people do, especially if you have a family, you owe it to that provide for your family first and knowing or at least whoever your income and your cash flow is coming from. The entrepreneurial efforts should definitely be secondary until you have reason to believe that the cashflow is predictable."
Power of Positive Thinking
"I had that dream when I was dating my wife, but that would be kind of a hurry However, dream is absolutely almost unmeasurable because it's the driving force that will get you out of bed to make calls at 5:00am and it's the thing that drives you. And once you've got that powerfully in place and you reinforce it daily with whatever routine you have to reinforce your dream because predictably a sudden loser is going to come along and tell you, "that's stupid, you know. Forget it, you know." You must reinforce your strength and your beliefs by a daily routine of some kind where you actually come to grips with it. And I read my goals and dreams every day. I got quite a list."
David's No.1 Quote
"What you do daily will determine what you become permanently!"
Want to know more about David and the International Entrepreneurs Association?
Websites: https://www.IEA777.com and http://www.askdavidhow.com
Want to ask David to speak in your event? Check this out:
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