four paths to entrepreneurial success

A Special Report: The Four Paths to Entrepreneurial Success

A Special Report for those who are thinking about starting a business and want to make the right choices.

Choose the Right Path for YOU !

As a seven )me entrepreneur who has counseled, mentored, and trained thousands of small business owners, this program in intended to help you understand the available op)ons. As a former Business and Corporate Law a?orney, I found that it too oAen business owners dont know what they dont know - and that can lead to unintended consequences I congratulate you for inves)ng )me into this program to discover your op)mal path for success!

Dawn Fleming

2015 by Tethys Interna9onal, LLC. All rights reserved.

Tethys Interna9onal, LLC Punta Gorda, Florida Oce: 714-639-6869 Email: [email protected] www.visionaryentreprenuership.com

A Legal No:ce to Students


This Special Report and related materials are designed to provide accurate and authorita9ve informa9on in regard to the subject maVer covered. It is oered with the understanding that the publisher is not engaged in rendering legal, accoun9ng, or other professional advice or services.

This Special Report and related program material contain copyright protected content owned by Tethys Interna9onal, LLC. This material may not be used for any purpose without the expressed wriVen consent of the Tethys Interna9onal, LLC.

I have some ques:ons for you: Are you looking for the perfect job but cant seem to nd it? Do you wonder Whatever happened to Job Security? Have you thought about star9ng a business, but really dont know where to begin?

If you answered YES, then you are in the right place! You are not alone!

If youre over 50 and seek Job Security, you may be looking for a long, long 9me. Even if you do nd a job, there is no guarantee of employment. In the 1960s, U.S. employees averaged four dierent employers by the 9me they

turned 65 years old, now the average is 8 by the 9me you reach age 30. From 1996 to 2004 there were, on average, 550,000 small businesses started every

month in America. Even more people are becoming entrepreneurs now, since our economy isnt providing

enough jobs to keep pace with the demand. Unfortunately, 90% of small businesses fail in their rst three years. (more about why

later) The good news: You can BEAT those odds!

We know the TRUTH Job Security in America is about as aVainable as a Stated Income Mortgage Loan! Those days are GONE, GONE, GONE and theyre not coming back any 9me soon. Today, with the technology trio of the personal computer, cell phones, and the internet, the former barriers to entrepreneurship have all but disappeared.


Who Am I?

Im Dawn Fleming, an aVorney and seven 9me entrepreneur. I became an entrepreneur by default, ajer a lengthy and disappoin9ng job search. I worked for a law rm, cranking out a ridiculous quota of billable hours for a worka-holic boss. My job search ended ajer a hilarious job interview for a posi9on I had no interest in. The job Id been let go from in the year 2000 turned out to be the last one Id ever have. Now Im psychologically unemployable, and have the Freedom I always wanted. Im going to share some important informa9on that can help guide you as you make important decisions about your career and your future.

Why Am I Oering This Program? To inspire you to take charge of your circumstances and your life. So you can experience what I can oer as you navigate the entrepreneurial path. To explain the Four Paths to Entrepreneurial Success so you can make the right choice. To help you look at issues that are important to consider before you go into business. As a star9ng point on your journey, and to see if what Ive discovered resonates.

Whats Going On Out There? In the current economy, many people are seeking viable business opportuni9es to secure their nancial future, be their own boss, and beVer balance the responsibili9es of career and family. According to a report published by the US Chamber of Commerce, more and more people are embracing entrepreneurship by running their own small businesses. For me, business ownership has provided the FREEDOM to have the lifestyle of my dreamsnow my mission is to help others create nancial security AND their ideal lifestyle. It is clear that tradi9onal jobs are under strain due to a shij in the global economy, the high cost of pensions, benets, employment taxes, and other factors. Standard benets like health insurance are being cut or eliminated and its becoming harder and harder to nd employer-funded re9rement. News headlines frequently report large corpora9on layos of people by the thousands. Mature companies that have been bas9ons of success are releasing workers into a very uncertain job market as they adjust to a new economy. So much for Job Security.

How can I help you? Im further down the same path I too became an entrepreneur by default. Ive spent over 25 years as a successful professional, in which 9me Ive been both

formally and experien9ally educated. As a seven-9me entrepreneur, I know how to set-up, market, manage, and maintain

thriving businesses. Im the Owner of a Lifestyle Business that allows me to live the life of my dreams. I have a true passion to help you achieve Success On Your Terms.


How to get the most value

Commit to the process by comple9ng the program and the exercises. Know that the #1 reason for business failure is a lack of planning & upfront research!

This program has two parts: Part I covers the 4 Paths to Entrepreneurial Success. Part II is more about YOU it is a list of ques9ons to ask yourself as you think about whether or not entrepreneurship is really for you. It isnt for everyone, and if it really isnt for you, wouldnt you rather gure that out NOW, before you blow your 401K or life savings on a business venture?

What Resources Do You Have?

Before we discuss the 4 Paths, lets start with the general concept of resources. In the world of business, there are three basic resources: Time, Energy, and Money. Of these, most would agree that TIME is the most valuable. Energy can be replenished and there are always ways to make more money, but we never get more 9me. It is a nite resource.

When you work as an employee, you are usually told what to do with your 9me. When you own a business, you must determine the best use of your 9me. As more and more people realize their most valuable resource is 9me many nd that they want to spend it on things that truly maVer. By being a business owner, you have greater control over your 9me and ac9vi9es.

Of course the world doesn't end when you miss your daughters school award day, or your sons LiVle League game. But the condence ins9lled in a child when a parent makes it a priority to be present for those special moments - is truly priceless. You can't buy it with your salary, no maVer how much you earn. Business ownership provides you with the freedom to not only to aVend those games - but to be the coach of the team if you choose! You can volunteer for school events, your community, your church, or other causes and enjoy those special moments without compromising your income.

A Gallop poll found that a whopping 61% of Americans prefer to be their own boss! This compares with only 47% of US workers saying they are sa9sed with their jobs. Some of the advantages of being your own boss include greater control over your 9me and ac9vi9es, quality 9me with family and children, less 9me wasted commu9ng, the security of knowing you cant be laid o, a beVer balance of work and family life, and the power and freedom to determine your own career direc9on. A BIG advantage is the savings on TAXES - our biggest expense!


PART I: The Four Paths to Entrepreneurial Success

So are you really serious about going into business for yourself? If you are, there are four dierent paths you can take and lots of choices along each of the four paths. Your challenge is to familiarize yourself with the four dierent paths to entrepreneurial success, learn the pros and cons of each, and how they dier so you are equipped with the informa9on you need to make smart choices about the right path for YOU.

Savvy and successful entrepreneurs understand that to have a protable business, strong and eec:ve systems are cri:cal. You can create such a business in one of several ways: direct sales, or rela9onship marke9ng; buy a franchise; buy an exis9ng business; or start a business from scratch. All four of these paths can provide income and 9me freedom, but the rst three also have the advantage of turnkey systems from the moment you begin your business.

Lets dive in and discuss each of these Four Paths to Entrepreneurial Success in detail.

1. Direct Sales/Rela:onship Marke:ng.

You might not know it, but according to the Direct Selling Associa9on (DSA), there are nearly 90 million direct sellers worldwide, doing an es9mated 167 billion dollars in sales. Thats some serious business! Most direct sales companies oer a proven business model, extensive free or low cost business training and support, and have very low start-up costs and overhead.

The DSA denes direct selling as the sale of a product or service, person-to-person, away from a xed retail loca9on, marketed through independent sales representa9ves who are some9mes also referred to as consultants, distributors or other 9tles. Direct sellers are not employees of a company. They are independent contractors who market and sell the products or services of a company, in return for a commission on those sales.

Great for First Time Entrepreneurs

In essence, this business model allows you to build a business through hard work - sweat equity if you will. It also has the op9on to create leverage by building a sales organiza9on that can provide you with a passive income stream, similar to real estate or insurance brokers. What that means is that if something happens to you, and you cant work, your income isnt aected the money keeps owing to you. If youve never been in business before, its a very low risk way to start a business. It is also a great way to test the waters and see if business ownership is really for you, while gaining valuable skills in the process. Since it is your business, you work on it at your own pace.


This is also great op9on if you just dont have 9me to start a business but understand the importance of having a Plan B, and really want to start a business on the side, while s9ll employed. Since its low-risk, it is a great way to go for someone without access to capital. No experience, no problem you earn while you learn the business. Since most are designed to be part-9me, direct sales is a perfect way for those with liVle 9me to start a business. Choose the right company, and you may even become wealthy. Studies show that 95% of those who last 10 years in rela9onship marke9ng become wealthy beyond their wildest dreams! In fact, 82% of all women in the United States earning over $100,000 per year did it in direct sales.

Low Start Up and Overhead Costs

Startup expenses can be very costly with some business models. A major draw to direct selling companies is they oer low startup costs. Since there are no employees or insurance expenses and you work from home, overhead is prac9cally nonexistent. Direct selling also oers the best way to build rela9onships with successful business owners who will help you create prots. Since direct sales business owners get paid for helping other independent contractors succeed, you have mentors who have a vested, nancial interest in your success. There are also ojen incen9ve trips to exo9c loca9ons, fun social events, and a teamwork atmosphere.

Billionaire businessman Donald Trump, co-author of the book Why We Want You To Be Rich, writes Direct selling has proven itself to be a viable and rewarding source of income. Direct selling combines the proven success of a franchise with the freedom of an independent contractor, without high overhead, capital investment or employees. It is a business model that oers low risk, and high reward. Direct selling u9lizes the most eec9ve sales method known, which is word-of-mouth.

Since direct selling rewards you based on results, there are no income guarantees. However, the training you receive for producing results is usually very thorough. Combining the training with consistent eort is the secret to earning money and being successful in direct selling. Robert Kiyosaki says Direct selling teaches you basic cri9cal life skills, real-life training you can use, not the theore9cal business stu you learn in school. Since there are no employees, there are no insurance expenses, management hassles, or liability associated with having employees.

All Walks of Life

According to the Direct Selling Associa9on, 17 million Americans own a direct selling business. Of them: 32 percent have some college technical or trade school educa9on, 35 percent are college graduates, 24 percent have a high school diploma or less educa9on and 8 percent have a postgraduate degree. It truly is a mel9ng pot business, with people from all walks of life. More and more men are star9ng to catch on to this amazing business model.


Ive been involved with three direct selling companies, all were very posi9ve experiences. While the rst one was not a nancial success, the skills-training was invaluable. The second one s9ll provides recurring income, but more importantly created lifelong friends. The third 9me is a charm - as they say! Weve been blessed beyond belief with that venture, and now bless others

David Bock, best-selling author of The Automa)c Millionaire says The beauty of direct selling is that it's all done for you. All you need to do is nd a reputable company that oers a product or service you believe in and can get passionate about. That really is the key: nding a product or service that YOU are personally passionate about. Otherwise if your reason for doing the business is solely make money, you probably wont be very successful.

2. Buy a Franchise

Franchising is the prac9ce of using another companys business system. A franchisor typically grants an independent owner/operator the right to distribute its products, services, techniques, and trademarks for a percentage of gross monthly sales and a royalty fee.

Franchise fees can run up to $2 million and that doesn't include employee salaries, local adver9sing, insurance, rent and u9lity costs or provide income for the owner while wai9ng for prots to be generated. Of course the number one headache for many business owners is nding, training, and retaining trustworthy employees who are willing to spend their 9me making the franchisors (owners) dreams come true.

The advantages include a recognized brand and proven business model, adver9sing, training, and other support services. Franchise agreements can last from ve to thirty years, and the contract terms ojen favor the franchisor. The upfront capital investment required can also be substan9al and return on investment can take several years. the rule of thumb in the world of franchising is that youll need to invest 5 9me the amount of capital that you wish to earn per year. That means if you want to make $100,000 per year, youll need to invest $500,000!

Turnkey Systems

The great thing about the network marke9ng and franchise business models is that they do provide turnkey systems for the business owner. In theory, the recipe for success is already proven and provided to you; you just add the eort. Thats how they are supposed to work, anyway. But not all companies are created equalso youll want to do your homework before joining forces with a par9cular company. One poten9al drawback is that you must follow their systems. If youre the crea9ve type or like to do things your way, then these business models may not be right for you. Or youll need to search harder to nd the company that is the right t. Also, franchise agreements can be extremely complicated; so be sure to seek expert advice before entering into one.


What Factors Should I look at?

So how do you nd the right company for you? Well, whether you want to become an investor in a company, start a franchise, a direct sales business or even if you were just looking for a job: Harvard Business School says you should look at ve factors when analyzing any company.

1. The Company. Is it stable? How long have they been in business? What is their proven track record, not just projected income.

2. The Product. Is it a good product? Is it something you would purchase whether or not there was a business aVached to it? How much compe99on is there for whats being sold? Does it stand out in the marketplace? Can it be easily duplicated by others? (is it proprietary?)

3. The Need. Is the product needed in the marketplace? Is it something that people will actually buy? What does the industry growth curve look like?

4. The Compensa:on. Exactly how much do you or your company have to sell to make a certain amount of income? Will you be well paid for your eorts?

5. The Timing. In real estate, its about loca)on, loca)on, loca)on. In business, its all about :ming. Fijeen to twenty years ago, opening a cell phone store was a good idea, now they are everywhere. Yogurt franchises are similar.

To the above list Id like to add two more, which are more personal preferences:

6. Is the product a good t for you? Do you use and love the product yourself? Its so much easier to sell a product that you are passionate about.

7. Is the company a good t for you? Do you understand and agree with the companys values and mission? Are you comfortable working with the people in this company?

It doesnt maVer how strong the company is, or how good the product is you must be excited about it or you just wont be successful or happy. Thats extremely important to remember.

If you are currently a W2 employee, the fastest way to give yourself a raise is to start a direct sales/rela9onship marke9ng business on the side. The US Tax Code favors business ownership. Many personal expenses can be immediately converted to business expenses your computer, sojware, Internet, cell phone, auto expenses, home oce expenses be sure to ask your accountant or tax advisor for details. I highly recommend reading the book Lower your Taxes Big Time, wriVen by CPA and former IRS Tax AVorney Sandy Botkin.

I encourage you to take your 9me and research the opportuni9es that are out there and do some soul searching to discover what type of business best matches up with your skills and experiences, and is in alignment with your business and personal goals.


3. Buy an Exis:ng Business

This may be a good op9on if you are a conserva9ve future business owner. If you go this route, make sure the business has a track record of at least ve years, and then analyze that record very carefully before closing the deal - beVer yet HIRE an expert if you arent a nancial wiz.

What Type of Business Should I Buy?

1. Select a business that makes you say, I get to go to work today! If you are eager to go to work, it will increase your odds of success.

2. Select a business that is within your area of experience, range of skills or natural tendency. No maVer what type of business you choose, you will have compe99on.

3. The condi9on of the business, the sales price, and terms of purchase should be favorable and make sense to you. Many businesses on the market are really only for experts and turn-around specialists."

4. The sales price, terms, condi9ons, and expected cash ow must t your needs and nancial condi9on. Dont overpay.

5. Is your choice approved by your family? How well does it t in with your desired lifestyle?

Where Do I Find Businesses For Sale?

Classied sec9on of newspapers under "Business Opportuni9es." Online searches. Business brokers. Suppliers within a par9cular industry. Accountants who service an industry.

How Much Should I Pay For a Business?

There are some guidelines for pricing businesses, but exercise cau9on as they are not precise. They also uctuate with 9me, by geographic area, economic condi9ons, community aVributes, the popularity of a business, supply and demand, and social changes. Generally speaking, you are buying future income. Price is usually determined by protability and value of the assets.

The greater the likelihood that the business will be successful, regardless of a change of ownership, the higher the price you can expect to pay for the business. If the current owner has liVle impact or a nega9ve impact on the business, it may be worth more than what the nancial records may indicate.


A good rule of thumb for small businesses is to never pay more than three 9mes the value of "net", which is the total nancial benet to the owner including perks, fringe benets, salary and prot. Some businesses are worth less than one year's net income.

Dont Pay Cash

Never buy a business for all cash. Typically the buyer will make a down payment of 30-50 percent and the seller carries a note for the balance. As a buyer, you want to keep the seller interested in the business future nancial success. Youll have recourse if the seller defaults on the sales contract or was been less than honest about the true condi9on of the business.

Service businesses are typically the least expensive, followed by retail, manufacturing, and distribu9on businesses. In establishing price, the protability record of the business is most important, but it cant be the sole determining factor. There are many other signicant factors that aect the purchase price.

The job of a business broker is to assist buyers and sellers of businesses. A reputable and experienced broker can be very helpful in your search and in nalizing the transac9on. Like real estate transac9ons, the seller usually pays the commission. Unless you are an expert in legal and nancial maVers, you will need an aVorney and an accountant. Choose professionals who handle business sales as one of their primary prac9ce areas. Always use an escrow company that rou9nely handles business sales to seVle the transac9on.

4. Start From Scratch

Star9ng from scratch maybe the most dicult path, but can provide the biggest payo. Instead of being provided with turnkey business systems, you must create them. This can mean more work, failures, and frustra9ons. You must be a constant learner, and be willing to seek out help in areas that may be unfamiliar or dicult for you. Finding mentors and advisors to give you good advice and determining where to best spend your 9me are essen9al.

Being ecient is not the same as being eec:ve.

Its not enough to be ecient in business, you must be eec9ve. Whats the dierence? I could be super ecient in the way I handle my email messages. I may have folders and subfolders for all my email, rules set up for how they are handled and be able to nd anything I want quickly. The ques9on is: Does being ecient in handling my email put any money in my pocket? NO!

A great example is sales people. The high payo ac9vity for sales people is being in front of customers or clients who have the need and ability to buy what they are selling. In other words, they need to be in front of prospects to make money. Other ac9vi9es they may engage in are


prospec9ng, researching companies, telephone calls to set appointments, and driving to appointments may all make them more ecient, but not more eec9ve at making sales. As an entrepreneur its cri9cal to quickly iden9fy what your high payo ac9vi9es are.

Why I Quit Prac:cing Law

When I was a prac9cing aVorney, I had no leverage. I made money by the hour, so my income was limited by how many hours I could (or wanted to) work. Since I didnt know what leverage was or that it even existed at the 9me, I didnt mind that business model. Once I understood what leverage was, how powerful it can be, and the dierence it could make with respect to achieving my goals, I started using my 9me in a dierent way.

Since then, Ive moved away from the trading 9me for money income model, and focused on crea9ng what I call Lifestyle Security. In my rst business, I joined a direct selling/network marke9ng company. It wasnt a nancial success, but the business skills I learned during those early college days served me very well throughout my whole career.

Ajer star9ng a law prac9ce from scratch, I joined a rela9onship marke9ng company. While I con9nued to prac9ce law, I worked that business on the side. Next I bought a business that didnt need me to run it, so I had passive income. A few years later an amazing new rela9onship marke9ng company launched. I jumped on board ajer using the analysis criteria men9oned above, and we are astounded by that companys growth and success.

Lifestyle Security is Beder than Job Security

The business decisions we made allowed my husband and I to take 6 months o and sail our 48 sailboat the Santorini over 5000 miles from Southern California to Florida. Weve realized our dream of living in a house on the water, with our sailboat out front at our dock. Its been over 15 years since Ive worked for someone else, and I love the freedom of having our ideal lifestyle. It certainly didnt happen overnight, and we worked hard but it was so worth it!

I m not sharing this with you this to impress you, Im saying it can happen for you too. Unfortunately, too many people are s9ll focused on job security but sadly it just doesnt exist anymore for most people. You can create Lifestyle Security by designing and building a business that doesnt need you to run it.


PART II: Start-Up Business Assessment Checklist

Now lets turn to the second part of the program: the Start-Up Business Assessment Checklist. This is a list of ques9ons to ask to help determine if business ownership is right for you.

1. Why Do I Want To Start My Own Business?

We start with this ques9on because it really is the most important one.

Is it for the Money?

While sta9s9cs indicate that the self-employed are four 9mes more likely to be millionaires than employees who work for someone else, remember that money isnt everything. In fact, it isnt the main reason people start businesses. In a survey of Fortune 500 execu9ves, fully one third said they would own their own business, if they had the chance to do it all over again. They all had really good incomes, so maybe it wasnt all about the money. No one has ever been on their deathbed and said, I wish I would have spent more )me at work.

Is it about Freedom?

This was probably the main reason for star9ng my own business. Ini9ally, I would have made more money prac9cing law at The Firm, but Id just come out of that environment. I really didnt know it at the 9me, but when I made the decision become an aVorney, I was choosing a profession that was in direct conict with a fundamental interest of mine - Freedom. I prac9ced law for a while, but I wasnt happy due to this inherent conict between my values and career.

But freedom is a doubleedged sword. Im a tough Boss, and ojen work on weekends. I love working from home, or our boat but as an entrepreneur you must have the discipline TO WORK. For many people, they need to have an oce to go to. What about you? Is it about Meaning?

When we sacrice our most prized possession our TIME, for something that isnt as important to us, we sell our soul. Doing so makes us, and usually those we love, feel bad. We arent living our purpose, or ac9ng in alignment with who we are. As we ignore it, the sands of 9me slip though the hourglass. Whether you want to start a business because of Money or Freedom, as we get older we cant help but recognize that our days on this earth are indeed limited.

What is the legacy you want to leave behind when youre gone?

2. How Much Do You Really Want Your Own Business?

Some employees start a business doing the same work they did at their job. The thought process is: I can make more money doing the same work for myself, because my employer sells


my services for more than he pays me. Ill get paid more, because I can just pocket the dierence! The aw in that reasoning is that delivering a product or service is merely one func9on of a business.

If you like being a technician and want to con9nue doing the same work you did as an employee AND theres a viable job market for what you do then you can probably make more as an employee. Why? Star9ng and opera9ng a business is hard work! Youll need to wear many hats as an entrepreneur sales, marke9ng, opera9ons, nance and accoun9ng, strategic planning, technology, AND produc9on. These func9ons all become your responsibility.

You must either have or learn these skills yourself, or nd and pay others to do them for you. Are you willing to invest the necessary 9me, energy and money?

Some people have a fantasy image of what its like to own your own business. Have you surveyed other entrepreneurs to see what they like and dont like about being one? Have you completed a skills assessment, or taken a good look and what you are and are not capable of doing? How does you family feel about you not having a steady paycheck?

In short How bad do you REALLY WANT IT?

3. Am I Willing To Invest Time Now For Future Rewards?

We live in such an instant gra9ca9on society we get impa9ent at fast food drive through windows if they take too long! Maybe thats why the Get-Rich-Quick schemes always have so many takers and the loVery is so successful.

Successful entrepreneurs will tell you that building a business doesnt happen instantly. It takes 9me to discover your passion, generate ideas, perform market research, develop a strategic plan, produce marke9ng materials, and implement technology. To sum it up - launching a business takes :me.

One of the worst mistakes an entrepreneur can make is rushing into a business without laying a good founda9on. Thats how life savings and 401ks are lost. Thats how bad situa9ons can get worse. If you expect to start a business and get paid instantly, it is very likely youll be disappointed. It can happen, but in most cases you must put in 9me now, and may not get compensated un9l later. Are you willing to do that?

Are you in a nancial posi9on that will allow you to delay your reward un9l your business becomes viable, or does your household require a paycheck right now? Be sure to check your household monthly budget and cash ow picture if you dont know the answer.

4. How Do I Feel About Failure?

Losers quit when they fail. Winners keep failing un@l they succeed. Unfortunately, weve been condi9oned to believe that failure is bad, and unacceptable. The reality is that you cant


succeed in business without it. If you ask any successful business owner, they will tell you that they learned some of their most valuable lessons through failure.

Thomas Edisons perseverance and determina9on is incredible when you consider that he failed over 6,000 9mes before perfec9ng the rst electric light bulb! He believed an electric light was possible, he refused to give up, and eventually succeeded. At one point, a young journalist challenged Edison asking, Mr. Edison, why do you keep trying to make light by using electricity when you have failed so many 9mes? Dont you know that gas lights are with us to stay? Edison replied, Young man, dont you realize that I have not failed but have successfully discovered six thousand ways that wont work!

When failure occurs, it can seem so devasta9ng at the 9me, and yet most 9mes, youll nd something good comes out of that failure. My mentor used to say that lifes challenges and obstacles are gijs from God they just come in roVen wrappers.

It isnt what happens to us thats important, it is how we react to it and thats all we can control. In business, many 9mes we have to make our best guess as to which is the right path to take. If we guess wrong, we make another guess and move forward.

How do you view failure? Time has certainly changed the way I think about failure, whether its the loss of a job, a spouse, a business setback, health challenges. Many of these life events werent fun at the 9me, but turned out to be true blessings. What challenges have you faced that were really learning lessons to help you along the way? Can you learn by failing?

5. Am I Willing to Learn?

The three most dangerous words in the English language for business owners are I know that. Thinking or saying those words will snap your mind shut like a trap door, preven9ng you from taking in new informa9on. It makes you unable to learn. Successful Entrepreneurs are Lifelong Learners and always seeking out ideas that will help them grow and give their business a boost.

The trouble is, when we went to school, we were taught how to be good employees, not successful business owners. Even if you invest the 9me, energy, and money to get a Masters Degree in Business Administra9on, what you learn is how to be a good Manager (Read: Employee) in someone elses business not how to successfully run your own.

So where do you learn what you need to know? One of the best ways to learn about business is from other successful business owners. By studying successful entrepreneurs and their businesses you learn what works, but perhaps more importantly, you learn what doesnt. Instead of making business mistakes yourself, leverage the wisdom of others by learning from their mistakes and then avoid them.

Are You Willing To Commit to Lifelong Learning?


6. Am I Willing to Commit to Paying the Price? A mentor of mine likes to say At the checkout counter of success, we all pay full retail. What he means is that, in spite of all the Get-Rich-Quick schemes, promises of immediate wealth, or making oodles of money from home without any eort we all must pay the price for true, las9ng success.

It makes me chuckle when I hear someone say I just started a business, Im going to give it a few months and see how it goes. You can tell that their commitment level just isnt there, so a successful venture probably wont materialize for them either. The key is to go in to business knowing it will take hard work, commiRng to learning what you need to know and then moving forward with ac)on to achieve it.

Do you expect immediate results without any eort? Or Are You Willing to Commit to Paying the Price?

7. Do I Like To Work Alone?

Working alone, and whether you enjoy it, depends on the type of work and your personality. If you like or need to be around people, working alone can feel like torture. You may get bored, or not be able to concentrate. Some people tend to work beVer in an atmosphere of compe99on or collabora9on. Do you know your work preference? If you thrive on being secluded, and are doing work that doesn't require input or assistance from others, that environment may be your nirvana. It could be a distrac9on-free way for you to do your best work. If so, there are s9ll ways to connect with people, such as through trade associa9ons, chambers of commerce, service clubs, and other organiza9ons.

Assuming your business grows, can you easily transi9on to working with, and being eec9ve in, a team environment?

8. Can I Learn from My Mistakes?

Many of us have been condi9oned to believe that making mistakes is unacceptable. The reality is that you cant be in business without making mistakes. If you ask any successful business owner, they will tell you that they learned some of their most important lessons by making mistakes. They will happen, but the key is to be willing to learn from them.


I came across these Rules for Being Human, and I share them here:

1. You will learn lessons.

2. There are no mistakes, only lessons. Growth is a process of experimenta9on. "failures" are as much a part of the process as "success."

3. A lesson is repeated un9l learned. It is presented to you in various forms un9l you learn it -- then you can go on to the next lesson.

4. If you don't learn the easy lessons, they get harder.

5. Youll know you've learned a lesson when your ac9ons change.

So, Can You Learn From Your Mistakes?

9. How Much Success Can I Accept?

There are two things that tend to hold people back from achieving their goals: 1) Fear of Failure; and perhaps more puzzling: 2) Fear of Success.

Why would anyone fear success? Isnt that what everyone wants?

As it turns out, fear of success exists because it expands your comfort zone and can make you feel vulnerable. In addi9on, success can expose your weaknesses and force you to deal with your inadequacies. As creatures of habit, change is scary to us.

When we aVain success, things ojen change. Those we know and love may react to us dierently because of it. As a result, success can be in9mida9ng and dicult to adapt to. Along with success can come more responsibility and challenges, which can feel threatening.

Some9mes we fear success because we dont think were good enough or smart enough. We dont know if we can live up to our accomplishments. Some9mes we feel we don't have what it takes to overcome obstacles or maintain our success once it is achieved.

Star9ng a business can some9mes feel liking holding up a mirror. Do you like what you see? Can the image looking back at you accept success?

How Much Success Can You Accept?

10.Are Your Family and Friends Suppor:ve?

In the 1950s, the American workforce idealized the concept of job security. In exchange for loyalty, devo9on, and pu|ng his employers interests before his own, an employee received a steady paycheck, a good pension, and job security.

Star9ng in the 1980s, everything started to change, and by the 1990s, the promise of Job Security had vanished. The old advice to get a good educa9on, so you can get a nice safe, secure job, no long holds true. Unfortunately, our educa9onal system, government, and news media apparently didnt get the memo. The only job that is truly secure is one you create.


There is so much fear and paralysis in the world today. Some are wai9ng for governments to save them, but no one can turn back the hands of 9me and return us to the days of Job Security. Small business is where the opportunity exists. By focusing on Lifestyle Security, you have the freedom to dene your own success, and the luxury of being recession proof.

It wont happen overnight. It will take hard work, dedica9on, investment, and maybe a liVle luck. But at the end of the day, its a worthwhile pursuit. Its a journey that many others have taken before you, and legions more may be forced to pursue. The ques9on is do you have buy-in from your family and friends or are they s9ll stuck in the 1950s mindset? I urge you to take the 9me to really think about how the issues these ques9ons raise relate to you, your background, your personality, and your preferences. Jumping into deep water, not knowing how to swim can be disastrous, so please think it through.

So, Lets Review!

Remember, 9me, money, and energy are the three resources at the disposal of an entrepreneur. Wise management of these resources is cri9cal to success. There are four paths to choose: network marke9ng or direct sales, buying a franchise, star9ng from scratch, or buying an exis9ng business. There are posi9ves and nega9ves for each choice and the entrepreneurs resources will play a major role and greatly impact the choice thats made.

I am very passionate about the work I do, and about helping entrepreneurs chose the right path. My dad had a small business when I was growing up and I saw him work very hard, wearing many hats as he ran his construc9on business. He had success, but my dad lacked the educa9on, skills, and resources to take it to the next level. Sadly, when I was a junior in high school, the business went bankrupt. It took our family years to recover nancially, but Im not sure my Dad ever recovered emo9onally from that loss. I am in9mately familiar with the challenges of being an entrepreneur. Since 1996, Ive worked with thousands of Entrepreneurs and know that doing the work up front makes all of the dierence between success and failure. I congratulate you for doing the upfront work that only 2% of entrepreneurs ever invest in before they get started. Those are the entrepreneurs who are more focused, clear, and condent about where they are going and are making more money as a result.

In fact, research overwhelmingly shows that the number one reason for business failure is lack of upfront planning and research. Most people dont start their business in a systema9c, organized manner and the rst step is to know which ques9ons to ask. It is my hope that this program has been an eec9ve tool to help you ask the right ques9ons, both about yourself and the business model you are contempla9ng.


Congratula9ons! Youve taken that rst and most important step on the Entrepreneurial Path: You now KNOW what your op9ons are AND you know what QUESTIONS to consider that will help you decide the Right Path for YOU!

Remember to Always Dream Big and Act on it Daily!

Yours to Count On,

Dawn

What others have to say

Dawn is an excellent mentor and coach. I can count on her to always be looking at ways to provide value to her team as well as prospec9ve clients. A pleasure to work with.

Dave Stone, Senior Partner, Red Sky Solu)ons

Dawn is a professional at everything she does. From Her professional knowledge, to her demeanor, a|tude in working with clients new and old alike, to her 9mely responses and in the overall quality of her work. I have been working with Dawn for many years now and I cannot see even looking to work with anyone else. Once you have worked with the best why go anywhere else?

Mark Hanlon, HEI Engineering, Inc., Duratred, Inc.

Dawn is highly mo9vated and passionate about her work. She truly cares about helping her clients.

Sco? Dutenhoefer, BCIS Insurance Services

It is a pleasure to recommend Dawn as a coach and mentor. I found Dawn always available and suppor9ve in helping others achieve their dreams.

Mike Shrader, Hospitality HR Consultant, Kenneth M. Shrader Consul)ng

Dawn is a sincere leader that has helped me learn how to start and grow with Nerium Interna9onal. She is very professional and understands the network marke9ng business with her vast experience at rela9onships marke9ng and business sense.

Cathy Costello, Brand Partner Nerium Interna)onal


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