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Archive for the ‘The Toilet Paper Entrepreneur’ Category

This is part of an in depth review of The Toilet Paper Entrepreneur, by Mike Michalowicz.  This book is about being an entrepreneur and starting and running a successful business. I will focus on 1 section at at time and distill the best information to help your business now.  This should not be considered a replacement for the actual book, which will usually have a lot more in depth information as well as stories, which are an important way to communicate the essentials.  If you find the information in these posts helpful, I recommend buying the book.

Getting anywhere with your business is difficult work. Limiting beliefs just make it harder. How can you expect to be successful if you keep telling yourself that you can’t? Mike Michalowicz refers to the beliefs that hold us back from achieving success in business as “the wall of limiting beliefs.”

Basically, anything you believe that will stop you from reaching a goal is like a wall in your path to achieving that goal. You may want to get your products into grocery stores, but you have convinced yourself that you don’t know how to approach the buyers. This is a limiting belief that will stand in the way of achieving your goal until you can overcome it.

I call these limiting beliefs “The Wall.” The Wall is insurmountable and is more powerful than any physical barrier could ever be. There is no method of knocking it down or destroying it other than to vanquish The Wall by creating a channel of enabling beliefs.

Michalowicz goes on to make a point about when the wall is overcome. In my example of the business trying to sell to a grocery store, it may seem that the wall is overcome when the person receives a referral and signs up one small chain. But the wall doesn’t go away. In fact, it is reinforced, because that person still believes he cannot reach out to a buyer unless he can get more referrals.

The only way to deal with the limiting belief is to find a way around it with what Michalowicz calls an enabling belief.

An enabling belief looks at what has been limiting you and then uses that as a starting point for action. In the book, Michalowicz uses the example of not having enough money to market effectively as a limiting belief. Not dealt with, this could cause the business to fail before it ever got started. He suggests an enabling belief to combat this. That belief is that you have no money, which enables you to focus on creative marketing strategies and gives you the power to learn how to market your product better than any competitor.

Any limiting belief can be turned on its head. You just need to learn to see the positives of your current position. For my own grocery store example, the person might say that he does not know how to reach out to buyers, but he does know how to reach out to consumers. He can then put together a promotional package which has consumers asking the grocery store if it carries the product. This can roll into a presentation package for grocery stores that includes video testimonials of happy consumers.

It may take a couple of tries, but you can come up with enabling beliefs to combat any of your limiting beliefs. This will make it possible for you to navigate around all the walls that currently stand between you and your goal.

This is not a magic trick. Chances are you might make a little progress, and then revert back to old beliefs. Michalowicz refers to the new enabling beliefs as a channel. Only through repeatedly applying enabling beliefs will you build a channel big enough to get around your limiting belief every time.

When in doubt, remember all of the things that used to be impossible. Everything from human flight, to running a 4 minute mile, to a computer that fits in your pocket was once thought impossible. Become a trailblazer through your own doubts and challenge anything that you think is impossible. All you need to do is apply your brain power and your passion, and you will find channels around every wall that stands between you and your success.

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Coming next: Chapter Three: The Fire In Your Belly

Buy or Not: This book is a buy.  The ideas presented here will re-frame how you think about your business and help you find your passion and put it in your business. Even if you already have a business, you can learn a lot from this book.  Buy this book at Amazon

Bradford Shimp helps small business owners and entrepreneurs build successful businesses.  Read his blog at www.allbizanswers.com.  Follow Bradford on Twitter.

This is part of an in depth review of  The Toilet Paper Entrepreneur, by Mike Michalowicz.  This book is about being an entrepreneur and starting and running a successful business. I will focus on 1 section at at time and distill the best information to help your business now.  This should not be considered a replacement for the actual book, which will usually have a lot more in depth information as well as stories, which are an important way to communicate the essentials.  If you find the information in these posts helpful, I recommend buying the book.

Chapter 2 – A Little Peace and Quiet (In Your Mind)

Accomplish What Your Believe

What do you believe? I mean, really, deeply believe, not just think at the moment. Mike Michalowicz starts chapter two out by plumbing the depths of what belief is. He says that “belief is the inner, unswayable knowledge of what you know to be true.” In other words, its the things that don’t bend. I think that belief may be shaped over a lifetime, much like a bonsai. Thoughts, on the other hand, may change day to day.

In order to be successful in your life, let alone your business, you need to have a clear picture of your beliefs. The problem is that there is much to distract and pull you away from your inner belief. We have an amazing capability to lie to ourselves and temporarily trick ourselves into believing something that isn’t true. However, that never lasts. The deep belief will always bubble up and fight against it. That may be why you are uncomfortable working a job, because you believe you are meant to do more. The question is, how do you live out your inner beliefs?

Michalowicz makes it clear that there is a difference between beliefs and truth. Beliefs are what guide us personally. Two people could have polar opposite beliefs, but neither is necessarily wrong. With belief, you must be true to yourself. So, if I am quiet and you are loud, we shouldn’t look down on each other, but embrace our differences as different beliefs. Truth is another matter altogether, and its not covered in The Toilet Paper Entrepreneur so I won’t weigh in on it here.

So, how do you find out what you believe? Well, according to Michalowicz, “our emotions act like an invisible GPS and move us toward our beliefs every time without fail.” You will find that emotion plays a big role in running your own business. You might as well embrace it and let it do its job. If you are going to look to emotions to discover your beliefs, start by listing the things that make you really happy and the things that make you really sad.

What does this all mean? Yes, I admit that it is a bit heady and philosophical at first, but it becomes more clear throughout the chapter. For now, look at it as a starting point. What you believe truly will truly be. Its not that you can snap your fingers and it will be. Just believing something doesn’t automatically get you there. But you do need to absolutely believe something in order to achieve it. If you go into business thinking that you will never succeed, how can you? So, you need to believe that you can succeed. Its like a destination on a map. You have to know its there and believe that you can get there. If you don’t have a destination that you believe in, you will never get there.

So it seems that the path to entrepreneurial success starts right in your own head. What do you believe about your future? You are going to need the deep well of your true beliefs to get you through until you reach the destination, that sweet moment of belief meeting reality.

There is one more important point made in this section. We each have two types of beliefs, enabling and limiting. You are going to have to work to strengthen your enabling beliefs while eliminating your limiting beliefs. This isn’t positive thinking poppy-cock. Its about finding or creating beliefs that will move you forward in life. For instance, you can think everyone is out to get you, or you can think that everyone is looking for a smile. You choose. Your belief will affect your outlook and have a huge impact on where you get in life.

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Coming next: The Wall of Limiting Beliefs

Buy or Not: This book is a buy.  The ideas presented here will re-frame how you think about your business and help you find your passion and put it in your business. Even if you already have a business, you can learn a lot from this book.  Buy this book at Amazon

Bradford Shimp helps small business owners and entrepreneurs build successful businesses.  Read his blog at www.allbizanswers.com.  Follow Bradford on Twitter.

This is part of an in depth review of  The Toilet Paper Entrepreneur, by Mike Michalowicz.  This book is about being an entrepreneur and starting and running a successful business. I will focus on 1 section at at time and distill the best information to help your business now.  This should not be considered a replacement for the actual book, which will usually have a lot more in depth information as well as stories, which are an important way to communicate the essentials.  If you find the information in these posts helpful, I recommend buying the book.

Chapter 1 – Nature’s Calling

Destroy Your Excuses

Mike Michalowicz has no patience for excuses. He says that “excuses are a great mechanism to apply logic to our fears.” They are simply a way of convincing ourselves to stay right where we are and avoid success.

Think about it. If you are letting an excuse hold you back, you are allowing words and opinions to rob you of your potential.

Michalowicz lists several common excuses for not starting your own business.

• The economy isn’t right for it. The thing is, everyone experiences the same economy at the same time. The good news is, if you can establish yourself in a weaker economy, you will have the chops to really grow when the economy turns around.
• Having your own business is risky. Yes, if you are not prepared. You can and should prepare yourself, and that will diminish the risk.
• You want job security. Look around you. Is having a job in a big corporation secure? No! The best job security is when you are the boss.
• Too old or too young. If you are waiting for just the right age to start a business, chances are that you will miss it. There is no right age. You can’t control your age, but you can control your destiny, no matter what age you are. And Michalowicz also points out that you can start a business at any age, long before you are old enough to go to work for the man.
• You are worried you won’t make enough money. Working a job, you can often make just enough to get by. Working a business, you can control how much you make. In the end, your own business is a far surer way to wealth.
• You ain’t educated. So what? Its not your degree that determines your success, but your passion, your hunger, and your hard work.
• You have no start up money. So instead of money, you use your brains and your heart to launch your business. Much of the Toilet Paper Entrepreneur is how to succeed through your own pluck. You can learn what you need to know quickly about business if you start off without a lot of money. If you have the money, it may be too late before you realize that you are doing it wrong.
• Too much competition. The competition wants you to think that they are too strong. The last thing they need is an upstart who can do it better and different then they can. Don’t worry about the competition. Build your business so its the best, and let the competition worry about you. At the same time, be unique and don’t try to copy the competition move for move. You lead the dance.
• Will anybody buy? If no one buys, you just need to adjust. It may take a try or two to find the right formula, but soon you will have buyers lining up.
• You don’t feel ready. You probably never will. So ignore that excuse and just get going.

The question you need to ask yourself is whether you want to sit and wonder what could have been? Michalowicz says that you don’t regret the things you do when you follow your passion and take risks. Regret comes out of letting the excuses hold us back from every really trying.

So, Is This Business Going to Make Me Rich?

Michalowicz says there is one good reason not to start a business. If the only reason you are going into a business is to get rich, you really need to reconsider. Successful businesses are not built on a get rich mentality. Instead, they are built out of a passionate heart.

Throughout The Toilet Paper Entrepreneur, Mike Michalowicz reiterates this point. You need to start your business around your passion, and nothing else. If you are just in it for the money, your priorities are out of whack. The money follows if you create something that you can be passionate about day in and day out. Otherwise, you will just check out, and never cash in.

One Day

If you have ever said that “one day” you would like to start a business, you need to stop. There is no one day. Right now is the day. Now is always better than later. Maybe you won’t open your doors today, but you can start the process. Set a real date for when you will open, and then figure out and do all the things you need to do first. And once you start doing, never stop. Before you know it, you will have a business.

Do You Have it In You?

While there are no good excuses not to start a business, it is also not for everyone. It may not be for you. The one qualification that you need to be a successful entrepreneur is this: you have to want it. If you don’t have a desire to start a business, don’t do it, no matter how good the idea or opportunity is.

If you do have the thirst, then you owe it to yourself and the rest of the world to plunge into the waters. Its the passion and desire to be an entrepreneur that will get you over the mountains and through the valleys, and will allow you to enjoy yourself along the way.

Here’s a bit of good news. You can discover the desire to start a business at any point in your life. It does not have to be a lifelong dream for you. You will know in your heart when it comes on you. And when it does, the time to act is right now.

This brings us to the end of the chapter. I want to let you know that Mike Michalowicz has done a unique and helpful thing with his book. At the end of each chapter, there are action steps. These actions are very helpful if you are ready to start your business (or make it better). I will not be including these steps, but if you are ready, I suggest buying The Toilet Paper Entrepreneur and following these helpful and practical steps.

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Coming next: Accomplish What You Believe

Buy or Not: This book is a buy.  The ideas presented here will re-frame how you think about your business and help you find your passion and put it in your business. Even if you already have a business, you can learn a lot from this book.  Buy this book at Amazon

Bradford Shimp helps small business owners and entrepreneurs build successful businesses.  Read his blog at www.allbizanswers.com.  Follow Bradford on Twitter.

This is part of an in depth review of  The Toilet Paper Entrepreneur, by Mike Michalowicz.  This book is about being an entrepreneur and starting and running a successful business. I will focus on 1 section at at time and distill the best information to help your business now.  This should not be considered a replacement for the actual book, which will usually have a lot more in depth information as well as stories, which are an important way to communicate the essentials.  If you find the information in these posts helpful, I recommend buying the book.

Chapter 1 – Nature’s Calling

Build Your Business Around You

Mike Michalowicz starts out chapter one of The Toilet Paper Entrepreneur by talking about passion. He asserts that just as the warrior who is fighting for his country will fight harder than the paid mercenary, so too will the entrepreneur who starts a business because of her passion, and not just to try to cash in on the next big thing that she may not even be that interested in.

In order to gain real success, you need to start with your own passion. Don’t make the mistake of starting a business based on what you know. Rather, base it on what you love. A business takes all of your time. Your best bet is to create one that coincides with what you already live and breath.

If you don’t already know what you love, just take some time to listen to yourself. What do you love talking about or doing? What could you spend hours on? Look at your history, too. Has it always been so, or is this just the latest thing for you. Finding that inner passion that sticks with you is the first step to starting a business that will thrive.

Michalowicz advises that before you start a business, you should stop and take an introspective look at yourself. Think through who you are and what you love and believe. Also, think about what a successful business would mean for you and what the rewards would be. You, of course, want to make a lot of money. But there is probably more at stake. You want to wake up happy and go to bed happy. You want to make an impact and be loved. Think about the end result at the beginning.

Owning your own business can sap the life from you if you are not careful. That is why it is so important at the beginning to clearly define your goals. You don’t want to have to scrap by for money. At the same time, you don’t want the money to control you. If you have a family, that is probably of primary importance to you. You need to create a business that allows you the time to enjoy your family and the financial freedom to support your family. If you are not clear about this from the beginning, it is too easy to get caught in the trap of working too hard for the wrong reasons. Your business should support your life, not the other way around.

Michalowicz asserts that your business should not start based on the markets, the latest trends, or even with what customers supposedly want. A successful business always starts in one place. It starts with you.

Build your business around who you are, and success and happiness are likely to follow. Build it on the market or customers, and aggravation and heartache will likely follow. If you are going to start a business, you might as well start something that you will be ecstatic about every day.

The simple truth is that in order for your business to survive and then thrive, it has to be the best. And you can’t be the best if your heart and soul is not in it. If you only can put in enough effort to get just enough sales to survive, you are doomed to a sad existence. Build a business on your passion, however, and you will be able to create the best, most interesting company there is. It will be an extension of your passion.

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Coming next: Destroy Your Excuses

Buy or Not: This book is a buy.  The ideas presented here will re-frame how you think about your business and help you find your passion and put it in your business. Even if you already have a business, you can learn a lot from this book.  Buy this book at Amazon

Bradford Shimp helps small business owners and entrepreneurs build successful businesses.  Read his blog at www.allbizanswers.com.  Follow Bradford on Twitter.