Fear Of Failure Is A Bigger Obstacle Than Shortage Of Money
by Clay Campbell
70% of Americans would like to start their own business. What is stopping them?
Capital is a little more difficult to get now than even a year ago. With the recent mortgage scare,
banks are being a lot more careful lending money. According to the most recent Bureau of Census
data, these are the figures for money needed for new businesses:
- 1% needed $1,000,000 or more
- 14% needed $25,000 -- $999,999
- 34% needed less than $5,000
- 26% did not require any money at all!
Our research, from several sources shows, that 69% of all new businesses starting up need
less than $10,000 to get up and running. 70% of the people on the street say they would like
to start their own business. Why don’t they?
I just read of a man who wanted to have his own antique business but had no money. He was
able to get an option on a lease for a warehouse with no money in advance. Then he divided the
space into 74 equal spaces. He leased them to vendors. Next he collected the first and last
month’s rent. With that money in hand, he finalized the lease, did $20,000 in improvements,
kept 3 spaces for his own merchandise, collected 10% commission on everyone’s sales and launched
himself into a very positive cash flow from day one. I like a guy like that!
Many ideas today that use service, information, or technology do not require much money. They
don’t require buildings, employees or inventory. You don’t need a half million to start a successful
business – think in new ways.
Many businesses that do require lots of capital are old-style businesses – very traditional
brick and mortar businesses with little leverage and upside potential. Look for ideas that can
be started with little or no capital that have a system that allows for duplication. Those have
the potential to make insane amounts of money.
I have a good friend that started 6 years ago learning to build websites. He was experienced in
ad lay out and design but a friend of his needed help building websites, and offered to teach him.
He went to work for that guy at $7 per hour. He learned quickly and now makes $40 an hour working
in his pajamas, in an office in his home. He sets his own hours and says he is as busy as he wants
to be.
Read about Lee Lentz. He loved doing magic tricks. He was thrilled seeing people’s responses
to the unexpected. But how do you get paid for doing little card tricks? Today, Lee and his wife
Vanessa stay booked at $15,000 per day doing innovative product introductions at conventions.
I started a newsletter for my customers and last year I acquired another newsletter from a friend.
I added both of the databases together and built a website around the tourism industry here. I
have about $300 invested in it. It earns $1000 per month advertising revenue with zero
expenses. I’m starting another one in another town this week.
What is your area of expertise that you could position as an income-producing business?
Fear of failure is a larger obstacle than not having any money.
The antidote for fear is faith. Wikipedia says: “an antidote is a substance which can counteract
a form of poisoning.” I say: Fear is a form of poisoning in your mind. The antidote: have faith
in yourself, and if you are a Believer; have faith in God.
Fear knocked at the door; faith answered-and no one was there.
Are Your Ads Getting Enough Complaints?
Part Three in a Three-Part Series
by Roy H. Williams
When an ad campaign is producing big results, there will usually be complaints
from the public.
When an ad campaign is getting poor results, the public rarely complains.
What makes people hate an ad?
- It´s hard to ignore.
Any ad that makes its point sharply will be an irritant. But sharp-pointed ads are
also the most effective.
- It presents a tightly focused perspective.
Any ad that makes assumptions about the experiences of the customer will be
judged as presumptive. Persons whose experiences are otherwise usually hate
these ads. But presumptive ads connect powerfully to customers whose personal
experiences are accurately mirrored in the ad.
- It´s given a lot of repetition.
There is such a thing as too much repetition. And the sharper the ad´s point,
the less repetition will be required. But "too much repetition" is often the
charge that´s leveled against an ad that´s annoying for reasons 1 or 2.
"Hello, I´m a Mac."
"And I´m a PC."
Very few people are ambiguous about the "Get a Mac" TV campaign:
"Apple´s mean-spirited new ad campaign. . . Ad Report Card Grade: C+
And isn´t smug superiority, no matter how affable and casually dressed, a bit
off-putting as a brand strategy?" – Seth Stevenson
"I don´t know about you but I have had about enough of those Mac TV
commercials that consistently rip on Microsoft and the PC. Any company that needs
to badmouth the competition in an effort to sell their product is a company I
don´t want anything to do with." – ElectroGeek
"The Los Angeles Times has a big article for you about Justin Long, aka the
Mac from the ´Get a Mac´ ads . . . [The article goes on to explain that
Justin Long is a ´smug little twit.´] Also of note: There are apparently
20 more of these ads in the can, ensuring that everyone will be sick of them
eventually." – Tim Nudd
"Reporting a $546 million profit on Wednesday, Apple also said that it
shipped over 1.6 million Macs representing over 30 percent growth from the year-ago
quarter. According to Apple CFO Peter Oppenheimer, this represents the strongest
quarter in the company´s history." – Jim Dalrymple, reporter
Complain about me all you want. Just leave the 546 million with my butler
at the front door.
Are your ads getting complaints? If not, why not?
A: Do you have no sharp points to make?
B: Or are you just afraid to make them?
Turn the poles of a magnet North to South and CLICK, they connect. Turn the poles
North to North and they´ll repel each other just as powerfully. Advertising,
like a magnet, is subject to the Law of Polarity: Your ad´s ability to
attract customers cannot exceed its potential to repel.
Most ads aren´t written to make a point sharply. They´re written
not to offend.
How are your ads written?
"If you look at the stock market, business activity, or budget deficits, things are dark. But if you
consider our capacities and opportunities, our passion and vision, the outlook is bright."
Bill Gates in a recent speech at The George Washington University
Perhaps now would be a good time to have a complimentary meeting with a Wizard of Ads Partner. Links to their websites and blogs are listed down the right side of The Wizard Times. Hundreds of their articles with free insightful advice can been seen at www.americansmallbusiness.com 2009 would be a great year to attend a class at the Wizard Academy 21st Century Business School in Austin Texas. What is the Wizard Academy?
See you next week.
Clay Campbell
Wizard of Ads
PS. Need help to attract more customers and grow your business?
