Someone suggested I read E-Myth Mastery. I’ve read the E-Myth. I love the concept but I must admit I haven’t mastered it yet so I figured it would be a good idea to follow the suggestion. When I checked E-Myth Mastery out at the library, this book just happened to be on the shelf right next to it and the title caught me eye so I decided to read it too. Over the coming days and weeks, I’ll make some posts about the 8 Patterns of Highly Effective Entrepreneurs.
The point of the book is to help you answer the following questions: Are you really an entrepreneur? and What should you do to become a successful entrepreneur? It’s a fact that not everyone is well-suited to being an entrepreneur. So as you read my posts about this book (or better yet read the book), consider whether or not you possess the traits of an entrepreneur. If you do, great. And if you don’t, there’s nothing wrong with that. Whether or not you’re really cut out to be an entrepreneur is for you to decide.
The first pattern of highly effective entrepreneurs is seizing opportunities. Notice it is not recognizing opportunities, it is seizing opportunities. Entrepreneurs notice things. But they don’t stop there. Entrepreneurs spot opportunities AND seize them. Lots of people spot opportunities and proceed to do absolutely nothing…unless you consider endless chatter over a cup of coffee to be doing something.
In the early days of the Internet, how many people recognized the opportunity in online auctions? Probably quite a few. But while most of those people were sitting around talking about it, Pierre Omidyar was busy seizing the opportunity. He was out building eBay. Now he’s a gazillionaire and many others who recognized the opportunity are talking about the big one that got away. They failed to seize the opportunity.
The managing director of a high-tech venture capital firm in Silicon Valley says it’s quite common to meet Ph. D.’s “who’ve been thinking and thinking and thinking for years but never actually starting doing anything.” The trick is to stop thinking and start doing. Perhaps these Ph. D.’s are using school as an excuse for not taking action.
Have you ever noticed how many millionaires and billionaires dropped out of school to seize opportunities? They had such a burning desire to seize the opportunity that it couldn’t wait for even one day. Here’s yet another of the endless examples of where conventional wisdom (which emphasizes formal education over seizing opportunities) is dead wrong.
Perhaps you’ll recognize a few names on this list of successful dropouts Don’t you think those who follow conventional wisdom would tell you it’s not possible to be successful if you’re a dropout? Apparently “successful dropout” is not an oxymoron after all.
If you’re reading this blog, then you’ve probably recognized the opportunities to make money online. But if all you do is read blogs and books about how to make money online, then you’re not an entrepreneur. You’re a dreamer. What good is to recognize opportunities if you don’t take any action to seize them and capitalize on the opportunities? You can’t succeed if you’re not in the game.
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One Comment
Robert,
You make some great points. The one about PH.d’s thinking and thinking and thinking is so true.
Way back when I was in college, those of us that were not on the dean’s list had a saying that basically said a few of the one’s making “C’s” will end up giving all the money to build the buildings where the one’s making “A’s” will end up teaching.
Fred
[Fred,
Thanks for your comment. It's amazing how often the graduates end up working for the dropouts. Perhaps the concept of who "gets it" vs who "doesn't get it" is backwards.
I remember watching the NBA on TNT last spring when someone started to razz Charles Barkley about being a college dropout. He quickly pointed out that he was a multi-millionaire and had dozens of college graduates working for him. I'd rather be in Charles Barkley's shoes.
Robert]
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