Tough day for us hustlers...
Day started off with my laptop breaking (NOOOOOOOOOOOOOOOOOOOO!!!!) then as i proceed to use my wife's laptop, i drop it and BREAK THE SCREEN! rrrg.
afterwards, the owner calls me and tells me the barbecue joint has got to go. I'm not suprised. here are the mistakes made:
1. he attempted to open a business with no market testing.
2. he was trying to create demand instead of fulfilling a demand people already had.
two biggest and most common mistakes in business.
In other news: the free time I'll have now allows me to properly study for the CPA exam! I might be the only person alive excited to study for the CPA exam.... call me strange...
til next time.
Monday, November 28, 2011
Sunday, November 27, 2011
And the speed reading course starts selling!
Www.Mindsoak.org
2 sales in one week with no marketing. Don't understand it... Oh well.
Thursday, November 10, 2011
HBS MBA for $200, and Another Meeting With My Client.
Hey all,
Currently reading the Intelligent Entrepreneur, which is a storybook about 3 Harvard Business School Graduates who went on to create their own businesses, mostly during the dot com boom of the 90's. This book also has another interesting tool: it documents some of the more important things that Harvard Business School students cover in their classes, and why they all go on to get such high-paying, high class jobs. I've beaten it down to these items:
1. cover 3-4 case studies about different businesses every week (you can actually buy the same case studies that HBS uses on their website)
2. HBS students are forced to become friends with other super successful HBS students and alumni thanks to their rigorous schedule that FORCES them to stay together almost 24/7.
3. They all took their 2-3 week breaks and hassled the CEO's of some of the largest and most powerful business consulting and investment banking firms and DEMANDED that they were given a 2 week internsip.
So, in light of this information, which clears up the HBS magic of creating millionares, I have developed what I like to call my $200 MBA;
1. Buy their case studies and read them, answer the questions, and have a friend argue with you as to what they would to to solve the problems in the cases.
2. Call one super successful person or business person PER WEEK and ask them out to coffee: tell them you are working on a case study for your Master's program and you would like to gather some information about a person in a similar field. If they ask you which school you're going to, tell them you're taking one online (you kind of are....kind of) PAY FOR THEIR COFFEE (this is the majority of your cost)
3. Call your dream firm during their internship rounds (if you don't know when this is, ask the receptionist who answers the phone) And ask to speak to the CEO. Tell them what you're currently doing, and BLOW THEM AWAY with your knowledge of the company. Then ask for an unpaid internship for 2 weeks.
Total cost: $200-500 dollars.
Another successful meeting with my client, last night. All Went well. There was a concerted change in his demeanor, this time. He is starting to actually trust in my decisions, which is nice. This has occurred because I haven't let him push me around or away from my goals or my ideas. I started talking to him like an expert instead of someone who is still asking for the glorious gift of his time and money. He respects that, and my time, and I'm making it worth his while. Here are my notes.
Problem: people Don't know we exist!
Solution: Marketing. And MARKET TESTING marketing:market toward: mid 20's couples. Affluent college students Williams: Posters around campus, throw a hottest wing eat off (sell tickets at cost to test) organize shuttles to and from campus Negotiate catering at their cafeteria Families Kids eat cheap/free needs to be PUSHED Sunday Night Football/wing discounts Call brisket sandwich a brisket burger? MARKET TESTINGSpecials test a burger test family discounts test college nights/ bigger discounts
Problem: People Don't understand us
Solution: Write an article about TRUE BLUE BARBECUEhistory styles etc. get in local newspaper, post on front door, on facebook etc. people need to understand the concept to want to come!
Problem: wine spoilage
Solution: shrink wine list and have a weekly wine special (draw wine specials from overstock from Gramercy) Problem: Food Cost
Solution:portion meats use more ice cream scoops, they're effective for portioning make an exact portion cheat sheet.
Until Next Time
Currently reading the Intelligent Entrepreneur, which is a storybook about 3 Harvard Business School Graduates who went on to create their own businesses, mostly during the dot com boom of the 90's. This book also has another interesting tool: it documents some of the more important things that Harvard Business School students cover in their classes, and why they all go on to get such high-paying, high class jobs. I've beaten it down to these items:
1. cover 3-4 case studies about different businesses every week (you can actually buy the same case studies that HBS uses on their website)
2. HBS students are forced to become friends with other super successful HBS students and alumni thanks to their rigorous schedule that FORCES them to stay together almost 24/7.
3. They all took their 2-3 week breaks and hassled the CEO's of some of the largest and most powerful business consulting and investment banking firms and DEMANDED that they were given a 2 week internsip.
So, in light of this information, which clears up the HBS magic of creating millionares, I have developed what I like to call my $200 MBA;
1. Buy their case studies and read them, answer the questions, and have a friend argue with you as to what they would to to solve the problems in the cases.
2. Call one super successful person or business person PER WEEK and ask them out to coffee: tell them you are working on a case study for your Master's program and you would like to gather some information about a person in a similar field. If they ask you which school you're going to, tell them you're taking one online (you kind of are....kind of) PAY FOR THEIR COFFEE (this is the majority of your cost)
3. Call your dream firm during their internship rounds (if you don't know when this is, ask the receptionist who answers the phone) And ask to speak to the CEO. Tell them what you're currently doing, and BLOW THEM AWAY with your knowledge of the company. Then ask for an unpaid internship for 2 weeks.
Total cost: $200-500 dollars.
Another successful meeting with my client, last night. All Went well. There was a concerted change in his demeanor, this time. He is starting to actually trust in my decisions, which is nice. This has occurred because I haven't let him push me around or away from my goals or my ideas. I started talking to him like an expert instead of someone who is still asking for the glorious gift of his time and money. He respects that, and my time, and I'm making it worth his while. Here are my notes.
Problem: people Don't know we exist!
Solution: Marketing. And MARKET TESTING marketing:market toward: mid 20's couples. Affluent college students Williams: Posters around campus, throw a hottest wing eat off (sell tickets at cost to test) organize shuttles to and from campus Negotiate catering at their cafeteria Families Kids eat cheap/free needs to be PUSHED Sunday Night Football/wing discounts Call brisket sandwich a brisket burger? MARKET TESTINGSpecials test a burger test family discounts test college nights/ bigger discounts
Problem: People Don't understand us
Solution: Write an article about TRUE BLUE BARBECUEhistory styles etc. get in local newspaper, post on front door, on facebook etc. people need to understand the concept to want to come!
Problem: wine spoilage
Solution: shrink wine list and have a weekly wine special (draw wine specials from overstock from Gramercy) Problem: Food Cost
Solution:portion meats use more ice cream scoops, they're effective for portioning make an exact portion cheat sheet.
Until Next Time
Dealing with haters.
Dealing with haters.
At my "necessary" job, I gave one of my business consultant cards to a colleague there. Apparently, on my day off, he was having a great time making fun of me with the rest of the staff, saying things like
a. "how can he think he has the experience?"
b. "I wouldn't hire him!"
c. "who does he have for clients? nobody I bet!"
The guy who told me this was really shook up by the fact that they would say this about me. I got a kick out of it for three reasons
1. Most Business consultants start work at: you guessed it, 23
2. They couldn't afford me, anyway
3. their boss is one of my clients!
about a week and a half later, two people CAME TO ME seeking business advice, friends of a friend from this little dis fest that these people had.
Where you at, haters?
I've never let haters get to me, even though I have experienced a lot of failure in my time. I've ran 4 businesses that have tanked, sold one due to an unsustainable business model, and now I'm here. You only learn from experience in a field like this, though, and that is exactly what those experiences have given me that many people don't have.
One client is starting a car shop and is looking for a business plan.
Another is a growing logging company looking for venture capital.
I'm stoked to knock this one out of the park. Lots of people would have stopped when their colleagues start bashing on them. I use this as a great way to put things in perspective. If their insults are founded in fact, then look at them and correct course (but don't ever tell them that!) if not, laugh at it.
til next time.
a. "how can he think he has the experience?"
b. "I wouldn't hire him!"
c. "who does he have for clients? nobody I bet!"
The guy who told me this was really shook up by the fact that they would say this about me. I got a kick out of it for three reasons
1. Most Business consultants start work at: you guessed it, 23
2. They couldn't afford me, anyway
3. their boss is one of my clients!
about a week and a half later, two people CAME TO ME seeking business advice, friends of a friend from this little dis fest that these people had.
Where you at, haters?
I've never let haters get to me, even though I have experienced a lot of failure in my time. I've ran 4 businesses that have tanked, sold one due to an unsustainable business model, and now I'm here. You only learn from experience in a field like this, though, and that is exactly what those experiences have given me that many people don't have.
One client is starting a car shop and is looking for a business plan.
Another is a growing logging company looking for venture capital.
I'm stoked to knock this one out of the park. Lots of people would have stopped when their colleagues start bashing on them. I use this as a great way to put things in perspective. If their insults are founded in fact, then look at them and correct course (but don't ever tell them that!) if not, laugh at it.
til next time.
Sunday, November 6, 2011
Friday, November 4, 2011
Checking in!
Hey All,
My new Product is getting designed, I'm going to call some manufacturers in the states today, and I negotiated another day off with my boss, plus more pay.
hustling pays off.
I'll explain how i did it next time.
My new Product is getting designed, I'm going to call some manufacturers in the states today, and I negotiated another day off with my boss, plus more pay.
hustling pays off.
I'll explain how i did it next time.
Tuesday, November 1, 2011
Awesome Articles, and an interesting problem.
http://hbr.org/2011/11/what-business-can-learn-from-organized-crime/ar/1?cm_sp=most_widget-_-hbr_articles-_-What%20Business%20Can%20Learn%20from%20Organized%20Crime
great points! technology is something you should ABUSE! make it your b%^#
In other news, I had an interesting obstacle to overcome today. Besides trying to contact my first "mentor" a la my DIY Harvard Business School Program, which led to eminent failure as his website has a few bugs (good talking point when i get him on the phone tomorrow)My friend offered up the exciting news that he's planning on opening a car shop in town focused on performance import vehicles. He is, undeniably the BEST mechanic I have ever met, able to fix anything with wheels in a matter of minutes. His financial and business mind is not quite as powerful. This is a guy who has a hard time understanding the idea that his skills have value, and I have to pay him in favors instead of cash every time he fixes my car! He has a true and honest love for his trade, and it is so deep and so pure that he believes that putting money in the way will somehow tarnish it.
The first thing I said to my good ol' buddy when he announced his venture was "Great! Let's sit down next week and get a business plan together"
This met with a suprisingly large amount of resistance from him. Resistance I did not expect.
What I didn't understand is that he (the tradesman) had not separated his trade from the idea of a business model, and he thought that I was implying "I know more about your TRADE, let me show you how to do it" instead of "I want to help you succeed IN YOUR TRADE." this is an important difference.
It finally came down to me saying this "look, I know you know about one MILLION times more than I do about cars, I'm not disputing that. I'm just saying that I may know about 500,000 times more about putting a business plan together so that you can make sure you succeed." Unfortunately, I think the damage had been done. I have a feeling that before the doors of the shop opens he WILL talk to me about his business, but it will be on his terms. Good Learning experience! Its important to ASK if people if they want your help before you OFFER it. Even if they're you're best friend.
Til next time.
great points! technology is something you should ABUSE! make it your b%^#
In other news, I had an interesting obstacle to overcome today. Besides trying to contact my first "mentor" a la my DIY Harvard Business School Program, which led to eminent failure as his website has a few bugs (good talking point when i get him on the phone tomorrow)My friend offered up the exciting news that he's planning on opening a car shop in town focused on performance import vehicles. He is, undeniably the BEST mechanic I have ever met, able to fix anything with wheels in a matter of minutes. His financial and business mind is not quite as powerful. This is a guy who has a hard time understanding the idea that his skills have value, and I have to pay him in favors instead of cash every time he fixes my car! He has a true and honest love for his trade, and it is so deep and so pure that he believes that putting money in the way will somehow tarnish it.
The first thing I said to my good ol' buddy when he announced his venture was "Great! Let's sit down next week and get a business plan together"
This met with a suprisingly large amount of resistance from him. Resistance I did not expect.
What I didn't understand is that he (the tradesman) had not separated his trade from the idea of a business model, and he thought that I was implying "I know more about your TRADE, let me show you how to do it" instead of "I want to help you succeed IN YOUR TRADE." this is an important difference.
It finally came down to me saying this "look, I know you know about one MILLION times more than I do about cars, I'm not disputing that. I'm just saying that I may know about 500,000 times more about putting a business plan together so that you can make sure you succeed." Unfortunately, I think the damage had been done. I have a feeling that before the doors of the shop opens he WILL talk to me about his business, but it will be on his terms. Good Learning experience! Its important to ASK if people if they want your help before you OFFER it. Even if they're you're best friend.
Til next time.
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