Toilet Paper Entrepreneur - Mike Michalowicz

Toilet Paper Entrepreneur - Mike Michalowicz 1. Lack of Money & Resources is an advantage 1.When we don’t have all the resources available to us, it f...

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Toilet Paper Entrepreneur - Mike Michalowicz 1. Lack of Money & Resources is an advantage 1. When we don’t have all the resources available to us, it forces us to approach the industry in a radically different way. 2. We are forced to be innovative. Necessity is the mother of invention. 3. When we have resources, the default response is to follow the established path and do incremental improvements.

2. Narrow Your Focus 1. We must start by catering to an under-served market when we start our business. Going after billion $ market from Day 1 is a dangerous mistake because you want to be able to alleviate the pain of a very specific Audience. 2. We must Nail it before we scale it. 3. A lot of companies will come in and fade out because they are trying to go too broad too fast. a. They haven’t learned what they don’t know.

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3. Questions are the Essence of Mindset 1. We are limited by the questions we ask ourselves. 2. While one entrepreneur might be asking himself: "How do I survive for another month?" another entrepreneur in similar condition might be asking himself: "How do I increase my revenue by 30% next month so that we become profitable?"

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Action Guide 1. What is your life’s purpose? It takes a lifetime to refine this answer - so we must Ask and answer this question every day.

2. Write your prosperity plan - Make it a living Document that you visit every day a. What is your Big Vision?

b. What is your Big BANG (Big Bold Audacious Noble Goal) not BHAG?

c.

Who are the customers you intend to serve?

3. What’s the one scary thing that you need to do the most that you are holding back on? DO it in the next 7 days. a. Below, Commit to a specific date and time when you will do it

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