Usually an idea is not enough to get into the big leagues. For definition I define the big leagues as having $1 million dollars or more. An idea gets you direction, but profits come with deal making. In this area, deal making entrepreneurs create profits out of thin air. Creativity is what an entrepreneur does. From the perspective of somebody starting out and wanting to become an entrepreneur the difficulty is in the low seed capital account and the lack of experience. These can both be overcome however the mistake most people make is believing that locating seed capital for their "big idea" is what an entrepreneur does. An idea simply leads to profits, but there is a long and winding road to travel before an original idea becomes profitable. An entrepreneur hardly ever creates big ideas. They create little ideas with big value. Pre-exisitng profitable circumstances that can be adjusted in a small, cheap way for a big return is the ideal situation for an entrepreneur. An entrepreneur buys problems and sells solutions. By that I mean they become experienced in solving a particular problem in a particular market that they have learned how to resolve cheaply. As a deal maker, an entrepreneur seeks out these similar circumstances or problems and takes on these investments for the purpose of resolving the problem and re-marketing to people that are willing to pay retail for solutions. In this way profits are most often made. To be in the position where the seed capital account is low is a challenge but no insurmountable. There are many ways assets can be controlled legally without the need for out right purchase. Assignment of assets is a very easy thing to do using legal instruments like options. The largest block to success for entrepreneurs first starting out is not having successful experiences, and its this aspect of the endeavour that really is the obstacle. The best advice I can give to new entrepreneurs is to invest in knowledge. This is the first step and can lead to leveraged returns if you get your hands on the right information. By creating deals from existing circumstances, an entrepreneur compounds money in a rapid way. This can be accomplished at very low levels. At these price points, an entrepreneur can build their seed capital account slowly in the beginning but more importantly develop winning experiences and accumulate experience over time. Martin Thomas (c)2005 Martin is a professional investor and Entrepreneur. If you would like to discover more about being an entrepreneur, you can read "The Million Dollar Mentor" by Hayden Muller. Martin recommends this work highly and has used the very concepts contained in the work for his own successful entrepreneurial activities.
http://www.opportunity-investor.com
|
