WHAT STANDS BETWEEN YOU AND YOUR BUSINESS

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WHAT STANDS BETWEEN YOU AND YOUR OWN BUSINESS?

• Michael Piczak
• May 2004

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The Realities

• 95 people in our economy are employees
• The odds are against you
• Youre different for wanting to go out on your
  own
• Are you ready?
• Do you have what it takes?
• Theres plenty of doubt in your mind
• Lesser beings have failed
• Lesser beings have succeeded

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THE CATALOGUE OF OBSTACLES

• FINDING AN IDEA
• THE ODDS OF SUCCESS
• NO CONTACTS
• LACK OF CONFIDENCE
• LACK OF FAMILY SUPPORT
• NO EXPERIENCE
• Xi?

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OBSTACLE 1 FINDING AN IDEA

• The Fix
• listen to complaint
• look at the marketplace
• solve a problem
• seen abroad, not here
• successful here, take abroad
• National Franchise Shows

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National Post May 10, 2004
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OBSTACLE 2

• The Fix
• start saving
• from friends, family
• banks
• venture capitalists
• partner(s)

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OBSTACLE 3 THE ODDS OF SUCCESS

• The Fix
• let the other guy worry about failure
• run your own race
• you are the 2/10 that is successful

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OBSTACLE 4 NO CONTACTS

• The Fix
• Get business cards
• Keep every business card
• Join networking group
• Start database
• Be a good networker
• Ask others to refer you
• Volunteer

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OBSTACLE 5 LACK OF CONFIDENCE

• The Fix
• Time will take care of a lot of it
• Keep studying
• Do surveillance while on part time jobs
• Get good at what you do
• Do work for almost free to pick up
  experience/portfolio/references/referrals

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OBSTACLE 6 LACK OF FAMILY SUPPORT

• The Fix
• Often, not much you can do
• Believe in yourself
• Surround yourself/network with other
  entrepreneurs
• Start small and succeed

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OBSTACLE 7 NO EXPERIENCE

• The Fix
• Take part time jobs that get you into the
  industry
• Volunteer
• Do work for free to demonstrate competence
• Get a partner
• Find a mentor

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OBSTACLE Xi DID I LEAVE ANY OBSTACLES OUT?
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THERES HOPE BECAUSE

• You have little to lose
• Time is on your side to recover
• Your opportunity cost is low
• You have youth
• You have energy
• Youre hard workers once you find what you want
• Theres so much indifference/apathy/ineptitude in
  the marketplace
• School performance correlates poorly with
  business success
• You possess a youthful naiveté
• You dont know the dangers
• There are many resources out there
• You have more contact and resources than you
  realize
• You believe!

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WHAT STANDS BETWEEN YOU AND YOUR OWN
BUSINESS?NOTHING YOU CANT FIX

• Michael Piczak
• May 2004

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• The end