Most of the technical work of business ownership can be taught and learned very quickly, and can be taught in a classroom. But for those of us who own or have owned a small business, we know that the technical work of a business is not what makes that business work. There is much more involved than the nuts and bolts. So I wanted to provide you with what I believe are the 7 most significant intangible attributes of a successful business owner and entrepreneur.

Passion - That inner drive that turns your dreams into reality. This is your burning desire.

Vision - Some say “I’ll believe it when I see it.” The entrepreneur says “I believe it, therefore I will see it.” Throughout history, vision has allowed those facing seemingly unbeatable odd to claim their victory.

Preparation - I’m not talking about being ready for a sales call or preparing your books for tax season. Although these things need to be done, I’m talking about the mental preparation needed to get you through the “No’s” so you can get the “Yes.”

Courage - Courage is not the absence of fear. Courage is feeling the fear, grabbing it by it’s haunches, beating it into submission, and going anyway.

Perseverance - No great accomplishment comes without obstacles. How well would your workout program go if you only used the 3lb. bar? Use your obstacles as you use a weight room. With the wrong application, 200lbs can kill you. With the right application, it will turn you into the Arnold of the business world.

Integrity - Those who truly achieve know that it is more important to do the right thing than the popular thing. You can build your accomplishments on a personal system of uncompromising values and unwavering standards.

The Dream - At your most ambitious, when you see no obstacles, but only opportunities and you cast the vision of what you can achieve. This is Your Dream!

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I have had my blog for about 2 weeks now, and one of the first blogs I came across that I enjoy and find helpful is YoungEntrepreneur.com. This is my first review of another site, and I’m excited for it to be Evan Carmichael. His writing flows very well as he keeps you entertained and informed in his posts like How to Get More Done in Your day and A Powerful Way To Get Online Rankings: Sitemaps.

It’s clear that he knows what he is doing as he has just past the 100 RSS subscriber mark, and he did it in a pretty short period of time. If you’re looking for a resource that you can count on, I think Evan has created it. It’s pretty clear that Evan has a good entrepreneurial head on his shoulders. YoungEntrepreneur.com has been nominated in two categories of the Bloggers Choice Awards; Best Business Blog and Best Marketing Blog. I won’t be surprised if we see a “trophy” and the site one day soon.

I know that for me, personally, there have been a few times already that I found a key piece of information or a tip that was sorely needed. And I’m glad to be one of the 100 subscribers! “Enthusiasts for enterprise, the YE founders’ ideas are not only research-based but also realized by years of hands on experience which will be featured in their much anticipated book, ‘The Innovative Entrepreneur,” which will soon be available on Evan’s blog.

I stopped by my parents house last night to dole out the goodies my wife and I bought for the family while on vacation and I saw that my dad had left me his copy of The E-Myth Revisited. Just last week we had lunch to discuss some of my entrepreneurial ventures and he said that has to be the first book I read. I opened it up and couldn’t put it down! It perfectly described the way I feel about business and entrepreneurship and the trials that go with it. In the first chapter, Michael E. Gerber talks about the entrepreneur’s fatal assumption.

That fatal assumption is: if you understand the technical work of a business, you understand a business that does that technical work.

Gerber is speaking to the tendency of technical workers starting businesses doing the same technical work. Naturally, a bakers starts a bakery, a mechanic starts a body shop, and a software engineer starts a software engineering firm. The problem is that the technical work of a business and the business itself are two completely different things. The technician fails to see this, and the business becomes a new place to go to work. I strongly suggest you get this book, as it has already had a major impact on me in just a few chapters.

Correct me if I’m wrong, but aren’t you an entrepreneur because you don’t want to have a job? Well if you start a business as the technical worker, your business will become that job you don’t want. This then begs the questions What is the difference between an entrepreneur and a business owner? For the answer, I’ll send you to MindPetals and let David Askaripour answer that.

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So I’ve gotten back from my 2nd wedding anniversary trip to Hilton Head, which was a full weekend! I expected a bit more relaxation, but it was good! We ate very well, and it’s a good thing, because that was my last hurrah! I’ve decided to take a little more control of my life and see about getting myself on a bit of a schedule! That will entail a few things changing for me, namely, diet, exercise, and my performance at work.

I am going to lose 40 lbs,  workout/run 5 times per week, and up my current job (with a soft “j”) income 10%.  So let’s see how this works.

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Those of you who read my earlier post Why I Talk to Everyone will remember that I said that I was going to write more in depth about making connections and forming mini relationships quickly. Most people think that some people are born with the ability to meet people and make new friends and that some aren’t. I believe that to a point, in that some people have a natural inclination towards social exchanges and some do not, but I also believe that successful social exchanges take a learned skill.

You have all heard the saying, “It’s not what you know, but WHO you know that counts.” This couldn’t be more true than in an entrepreneur’s world. Malcolm Gladwell speaks to this idea in his book, The Tipping Point. He says, “Acquaintances (not good friends) represent a source of social power, and the more acquaintances you have the more powerful you are.” He discounts the importance of your best friends in serving business needs by saying that they occupy the same spheres of influence that you are do. “Weak ties,” on the other hand, allow you access to social groups, business contacts, and opportunities (not to mention dates) that you never would have had with your group of close friends.

Now you know why it is in your best interest to be friendly and make friends and contacts wherever you go, and I’d like to give you some practical ideas of how to combat your fears in these types of situations. First, take action. Action Cures Fear! If you are terrified of starting conversations with people, then go out right now and say….something, anything. It doesn’t matter how you start, just say something. Sometimes people will grunt at you so you just move along, and sometimes you’ll meet people who just open up.

The best way I’ve found to break the ice is to ask them about something they own, be it the watch on the wrist or the car they are driving. Everyone like to talk about themselves and their stuff. Get people talking about themselves and they’ll love you! Once you’re in conversation, it’s pretty easy to transition with questions like, “do you work around here?” or “what do you do for a living?” or something along those lines. You never know when you’ll meet your next business partner, customer, or best friend!

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Every day I see posts on the 8 things you must have to be successful, the 5 books you MUST read, the 3 keys to successful marketing, or 10 ways to make money online. Not that there is anything wrong with these…because, as you know, I have written a couple myself. But I wanted to do something new, and give you my list of things you DO NOT need. I’ve learned a few things thus far in my entrepreneurial journey, and one of the biggest is that you need to focus and avoid distractions. Here are the 3 most common distractions that keep people from starting, maintaining, or growing their business.

1. TV - When was the last time you were watching LOST and that one piece of the puzzle fell into place and you knew just what you have to do? I’ll tell you when, Never. But when was the last time 24 came on and you decided to watch it and forfeit an hour of productive time? It’s okay, we all do it from time to time. But…What if you cut your cable off? WHOA! you’re gettin’ a little bit crazy, Graham! But think of it this way…take the 6-10 hours a week you spend in front of the tube and put that into your business. Then, take the $80 a month you save and invest it in some sort of personal development program (books, cds, seminars, webinars). Give it a try, and you’ll be amazed at how things change.

2. Sleep - Now, come on. You can’t think sleep is a commodity to give up? Maybe not for the faint of heart, but the world was won by tired men! You’d be surprised how little sleep you can survive on, and that you actually grow accustomed to it. Plus, you won’t die from sleep deprivation…you’ll pass out first. So do what you need to do; Work your 9-5 if you have to so you can fund your business and still eat while building it.

3. Family - Yes, Family is something you have to make a priority, but that is if you have a wife and kids. Here, I’m talking about brothers, sisters, parents and in-laws. They can very easily be a distraction. “Well, you really should finish college so you can get a better job(with a soft “j”).” But I don’t want a job (with a soft “j”). They may tell you that your life is out of balance, but if I have learned one thing about balance it is that you don’t take advice on it from people living without purpose! If they are always tearing down your dreams, you don’t have to spend time with them anymore…anyway, 10 years from now you’ll be “the rich uncle.”

There are, or course, more things than this that can potentially distract you when you are trying to build a business, but these three are the biggies. The name of the game here is focus and delayed gratification. If you can stay focused on what you are trying to accomplish and delay the little things like sleep and TV, you’ll be well on your way to being a successful entrepreneur! Thanks!

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I have made it a habit of being friendly to everyone I come in contact with on a daily basis, and I think you should as well. It’s not the most comfortable thing in the world to start a conversation with a total stranger, but if you don’t, you will potentially miss 100’s or even 1000’s of opportunities. Plus, once you get over your fear and just do it, you’ll have a great time making connections and building relationships with people all over town! I’ll get into this topic more in another post, but I thought I’d tell you about two recent conversations I had that may turn into something more!

First, I was at lunch with my dad yesterday when he saw an old friend and started chatting. So I, not wanting to stand there idly, started speaking with his wife, who I knew to be somewhat of an entrepreneur. We immediately hit it off and were engrossed in a business discussion when she mentioned her next idea for a venture. I won’t get into the details of it at this point, but I believe I may have found my next business partner! Just because I decided to be friendly. This also give me the opportunity to get into an industry and a niche that I never would have gotten into before.

Second, last night, when I was at Twist getting desert with my wife and some of our best friends, I noticed the man at the next table wearing a Breitling watch, the EXACT watch that I want. As you can imagine, I was a bit nervous to talk to this guy who looked to be mid to late thirties, was spending $300+ on dinner (I’ve never seen 4 people with so much sushi in my life) and obviously able to afford an $18,000 watch! Well, as we were finishing up, I asked him about his watch, and wouldn’t you know it, he opened right up! So 30 minutes later I have formed a mini friendship with Tony, the owner of the largest web hosting company in Atlanta! I got his contact info and I plan to hound him until he agrees to let me buy him lunch! It’s clear he has expensive taste, so it might cost me $100, but that is a small price to pay to get an hour with a man who built a $280 Million business from the ground up!

I hope this has been helpful to some of you, and I want you to know that my goal with my writing is to engage, equip, and empower other young entrepreneurs. With that in mind, I plan to author a few more posts regarding networking. These will include the details of how I’m meeting 10-15 new people every week and some ideas on how to get over the fears associated with starting conversations with complete strangers! Let me know if this is something you would be interested in, and let me know if there are any other topics you’d like covered! See ya!

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I’ve been to a couple of Time Management seminars and read a few books, and I’ve come to the conclusion that you cannot manage time.  Time goes by, one minute will follow the next, and tomorrow will be here as soon as today is done, whether you manage anything or not!  So instead of Time Management, I will call it Action Management.   Here is my list of 4.

1. A Pen is A Powerful Thing!
You need to form a habit of writing things down using one medium.  Don’t jot notes on 5 different places; on a pad here, a notebook there, one in your PDA, and anothing on my calendar.  Keep it organized.  When you write the details down, you can let your mind focus on the big things, The Vision. The details are important, but manage them with the pen.  Writing things down helps you to more easily remember all that you need to accomplish.

2. Plan to Succeed!                                                                                                                        As Richard C. Cushing says, “Always plan ahead.  It wasn’t raining when Noak built the ark.”  Every evening give yourself 20-30 minutes to plan out your next day.  At the very least, give yourself one evening a week for planning.  Plan your work and then work your plan each day.  You’ll want to make a “To Do” list and a “Want To” list.  Without a plan, it’s so easy to live for the urgent rather than the important.  Giving yourself a written plan allows you to maximize your productivity.

3. Prioritize!
It’s easier to prioritize when you already have your “To Do’s” written down.  Despite the fact that you want to be productive, when given the choice between important/unurgent and urgent/unimportant, it’s easy to pick the latter. The urgent/unimportant are generally easier and quicker than crucial items.  As you write your “To Do” list, go back and mark them starting with #1 as the most important, and so on. Then complete the items on your list in order of their importance. You may not get everything done on your list, but you will get the most important things done. This is working smarter, not harder, and getting more done in less time

4. Don’t Procrastinate!
Easier said than done, right?  I know, but the most effective planning in the world is no substitute for Action.  Procrastination happens due to a lack of two things; Pain or Pleasure.  There is either not enough pain to make you do it or not enough pleasure associated with finishing the task. To get going on something you have been putting off, think of the times in your life when you are the most productive, and how you feel; Probably Great!.  Take a procrastinated project and turn it into to a game.  Break things down into managable bite sized pieces.  THEN TAKE ACTION!

Again, this is all easier said than done, right?  So, put your first planning session on your calendar RIGHT NOW!  You will be amazed at how much “free time” you end up having when you get the details out of your head, plan your week, priotitize your plan, and TAKE ACTION!

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iPhone, Shmyphone…Wait till you see Microsoft’s new Coffee Table! It is a new development of hardware and software combination technology allowing multiple users to simultaneously manipulate digital content using natural hand gestures. That, in english, means that the dream technology in The Minority Report is coming true.

This is going to revolutionize the way business is done, the way music, movies, and pictures are shared, the way we eat at restaurants, and every other facet of our lives. Check out Microsoft Surface.

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$1,000 a Month is my first goal, with a deadline of Christmas. My wife really hates her job (with a soft “j”), and I, being the good husband that I am, want to get her out of it. $1,000 will make it possible for her to quit her job and start working somewhere part time doing something she enjoys, and it will give her plenty of time to take her dance classes she loves so much, and still have some energy for me!

So far, I’m at -$145

- 4 Domain Names
- 1 E-commerce solution (possibly 2 in the next week or so)
- 1 eBook
- Hosting Service with GoDaddy

Not bad investment capital, if you ask me…if you can call it that. Now, I have a number of different opportunities I plan to capitalize on, and I am learning this as I go, so come back to follow me on my path to a Free WIFE! My venture include but are not limited to:

TheYoungCapitalist.com Blog - You’re here…and I hope you stick around. That will make my $1,000 easier. Just kiddin’, but seriously. I hope that through this blog, I will be able to empower and equip other young entrepreneurs and capitalists to take a hold of their dreams and take action!

TheSmokyCigar.com - I mentioned in a post a few days ago that it looks as though my online retail cigar outlet was not going to happen, but after a conversation I had today with a guy in Costa Rica, TheSmokyCigar is alive again! I will keep you updated on my progress, as right now I am trying to find a suitable supplier, and it is not easy being 22 in the tobacco industry.

Wireless Signal Boosters - This idea came up a few days ago when I was chatting with my dad in his basement. A company that he owns part of is rapidly expanding the market for cell phone signal boosters, and I would love to get in early! I may be forming a drop shipping relationship with them, which I will know more about after my lunch meeting on Wednesday.

eBooks! - Everyone knows what an eBook is, and I plan to develop a few of them. The idea is an online resource for young entrepreneurs and capitalists with topics ranging from making money online to speed reading.

Ebay! - Yeah, yeah, doesn’t everyone? I know. I’ll be using Ebay as a marketing avenue more than an income source, even though I do plan to make profit with it. If all goes as planned, I may focus on this a bit more.

So there you have it, my very high level blueprint for $1000 a month online by Christmas, 5 months from tomorrow. Think I can do it? I do. Come back to watch!

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