Tag Archives: entrepreneurs

The Guitarist Entrepreneurs

What if I tell you that, there are more than five British people who have made more than $1.1 Billion dollars between them by just using one (maybe the greatest) entrepreneurial tool, the guitar.

If there was a group of people who have a way of making money using a simple formula, you would imagine that there would seminars on how to do it, the internet would be full of adverts stating this get rich scheme. Every school would tell young people that this is a career option, but no, because its rock n’ roll.

There are lots of these people around the world but I wanted to focus on just five, so selected these five, who past retirement and still making money, just to emphasis the long term viability of this global self employment opportunity.

This group of people found a secret formula in the 1960s and created such an incredible demand for their services that the world continues to consume it decades later. They made so much money that some governments created special taxes, just to try and get into the act.

Below I have shown you, just five “Guitarists”, each very successful from the same age 67-71 years old.

So what’s ‘secret’ formula and how can five people be worth $1.150 Billion?

Jimmy Page

Led Zeppelin – Stairway to Heaven Live
Aged 71
Net worth: $170 million
PRACTICE – While still a student, Jimmy Page worked as a session musician and doing a lot of busking. He states “I had to come to grips with it and it was a good schooling”, and this practice provided an opportunity to get feedback from real customers and also build a solid product which could then be taken to mass market.

Eric Clapton

The Yardbirds / Cream – Cocaine
Aged 70
Net worth: $250 million
INDUSTRY INFLUENCE – Eric Clapton has been referred to as one of the most important and influential guitarists of all time. This is why successful people still go on TV or write blogs, you can never underestimate how this influence can provide limitless opportunities.

Pete Townshend

The Who – Quadrophenia
Net worth: $105 million
SIGNATURE MOVE – If there was a move which every person knows, its the windmill swing when playing the guitar. On stage, Pete Townshend developed a signature move in which he would swing his right arm against the guitar strings in a style reminiscent of the vanes of a windmill. Others have followed since, e.g. Michael Jackson with his backward walk, that signature move is the most powerful marketing tool available.

Keith Richards

The Rolling Stones – Out Of Control
Aged 71
Net worth: $340 million
LUCK – If there is one person on this planet would has luck on their sides, it’s Keith Richards. Every entrepreneur knows if you have some luck then it makes a big difference.

7 Books every start-up entrepreneur should read

There is a great number of books out there which is aimed at Entrepreneurs and the skills and techniques they need. However if you are starting a business you don’t have time to read too many, so I have limited it to seven, which you should be able to read in one week. Enjoy!

Entrepreneur Revolution: How to Develop Your Entrepreneurial Mindset and Start a Business That Works by Daniel Priestley

I very much agree with the theme of this book “The age of the entrepreneur, the agile small business owner, the flexible innovator. The days of the industrial age are over.” and every student I meet, its about developing this mindset. This book should mainly provide some motivation and inspiration for your plunge into the next books.

The Lean Startup by Eric Ries

Building a business is no longer about “the business plan” which is cast in stone, its about doing and then creating small changes or pivots to the plan as you move forward. He goes over the a number techniques an entrepreneur can use in order to create a business.

Business Model Generation by Alexander Osterwalder

Great for the visual entrepreneur or those not interesting in writing a 50 page business plan. The book teaches us the right way to create a visual business plan and act on it. With pictures, graphs and timelines, this book is a must-have for every visionary young entrepreneur.

How to Win Friends and Influence People by Dale Carnegie

This classic book will turn your relationships around and improve your interactions with everyone in your life. Business is all about relationships, employees, investors, partners and customers all need you to be the best at dealing with their interactions.

Purple Cow by Seth Godin

Godin is one of the greatest entrepreneurial minds in the world and you should be taking a look at www.sethgodin.com. In Purple Cow, he advocates building something so amazing that people can’t ignore you and then allowing them to be your brand ambassadors. There are a lot of great case studies in this book.

The 7 Habits of Highly Effective People by Stephen Covey

While working on his doctorate in the 1970’s, Stephen R. Covey reviewed 200 years of literature on success. He noticed that since the 1920’s, success writings have focused on solutions to specific problems. In some cases such tactical advice may have been effective, but only for immediate issues and not for the long-term, underlying ones. This is why a lot of entrepreneur books have case studies or information which is of little help to you in your situation.

Covey presents an approach to being effective in attaining goals by aligning oneself to what he calls “true north” principles of a character ethic that he presents as universal and timeless.

The Psychology of Selling by Brian Tracy

Every entrepreneur knows that the key to a successful business is good sales technique. Not only do you have to sell your product, but you also have to sell yourself and your idea.

This book gives you valuable information and strategies about how to make more selling by focusing on one thing – the person. Young entrepreneurs tend to forget the basics of selling and jump right over to getting results, but in order to get results, you need to know the basics. Brian Tracy goes over those major points thoroughly.

Why are Mexicans richer than British Entrepreneurs?

I was looking through the Forbe’s rich list (http://www.forbes.com/billionaires/list/) and noticed a few trends.

The first is that the majority of richest people in the world are self made entrepreneurs.

1. Carlos Slim Helu
2. Bill Gates
3. Warren Buffet

In fact the list is split into new world and old world wealth, the majority of the successful self made entrepreneurs are based in the new world. This is because the majority of the growth in the world, the majority of the worlds population is in the developing world. Its also easy to start a business, no tax, red tape or health and safety to learn, manage and report on a monthly basis.

However, its doesn’t stop you starting a business in the UK which sells into these markets.

The second point is that Carlos Slim Helu, a mexican can become richer than any British person. The richest British person is at number 78 which is Gerald Cavendish with $11b. Forbe’s write about him “The sixth Duke of Westminster, Gerald Grosvenor, remains the U.K.’s wealthiest landowner, with his fortune increasing this year along with the property market in London.”

So the richest person in the UK is not a self made entrepreneur, its old money which is inherited, in fact old world wealth based on the value of land and property in London.

So during 2013, I am going to find out…

So why don’t we have more entrepreneurs?

Have we lost our entrepreneurial spirit?

Have we become happy to earn the minimum wage?

Have we all been educated past starting our own business?

Have we made it too difficult to do?

Do we know how to run a service business

Empathy and Ego make good Entrepreneurs

These are the two key components that make up a substantial amount of your communication abilities, yet mostly overlooked.

Ego is very often gets misinterpreted as being arrogant, cocky or snooty, but rather it is having a healthy understanding of your own self worth, the ideas you generate and the opportunities which lie ahead. Entrepreneurs have to believe in what they do, have the ability to communicate this to their investors, bankers, suppliers, employees and customers. Make these stakeholders, not only agree, believe they want to be part of this amazing (ad)venture which currently is just in an entrepreneurs mind. Without a strong autonomous ego you are one less tool short, one step closer to bankruptcy and therefore lacking the support from others you need. You need a strong, indestructible ego.

Every successful entrepreneur has a strong ego which allows them to generate a solid mental image of the product which they can creatively and confidently express to others. Their ego then shines through developing empathy within their valued customers and other stakeholders to create a business relationship.

Empathy is the skill of being able to put yourself in the other person’s position and understand how they might feel, the needs they have, or the requirement in a particular situation. This skill of determining a client’s need for the product or service that you are offering is core to being successful in business.  It’s a core skill of the entrepreneur which will sit next to your cut instincts.

Your success as an entrepreneur comes down to your attitudes and beliefs about you and your products. Whether you are aware of it or not, these will reveal themselves to your clients, in emails, over the telephone, marketing material and at face to face meetings. Empathy and ego are core factors that affect the way you communicate your attitude to customer and therefore should be looked after, maintained and be made a solid foundation for your future.

Why you should be an Entrepreneur in 2011

Everyone needs to be enterprising, everyone should have the ability to look at the problems around them and think of amazing ways of making the situation into a opportunity, taking advantage of the situation. You must and have to do this for your benefit, for those around you and those you care about.

When we all think about enterprising people we think about entrepreneurs, famous people like Alan Sugar, Donald Trump and Richard Branson. These people started from nothing and built billion dollar empires spanning the globe. They command respect in their ability to think outside the box, make things around them happen, have a brilliant vision which we can buy into and all admire.

Entrepreneurs are motivated by many things, for some its financial wealth, having authority, providing social good, commanding a business empire or just being able to do what they love. However, this motive drives them to get up every day and make the world around them a better place, a place where we can coexist.

They are just like you, and you need to find what is your entrepreneurial motivation, why are you going to get up every morning and make that difference? How will this motivation be so strong that you will have the courage to keep your businesses moving forward while others would have updated their CV, looked on the internet job sites and asked their friends if they know of any vacancies.

Finding the real motivation is the main reason the majority of people don’t start a business, it’s the single largest reason why you should start a business.

No one in the UK has ever been put to death for having a business failure.

So why do you think you will be the first, why do you think having the experience of starting a business, finding new contacts, building professional relationships with people across the world and learning diverse skills from budgeting, marketing and people management will result in you being worst off?

Starting a business and becoming an entrepreneur will make you a better person

96% of businesses in the UK are small business, with less than 10 people, (99% have less than 50) so if you fail you can become a valued employee in another small business, having developed those skills which every SME business in the UK is looking for.

Having ‘started a business’ on your CV will be attractive to employers.

The experience you develop as an entrepreneur will help you develop your other business ideas, which you will be able to take further. This means when you are ready to start thinking about a new idea, based on hard knowledge, based on real industrial experience, based on the best education the world has to offer, real world experience. Just remember you can’t read about experience you have to do it.

So just do It!