Blog - Kevin Harrington

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Mistakes Millionaires Don’t Make

EVERYONE WANTS TO UNDERSTAND AND EMULATE THE MILLIONAIRE MINDSET!

What many people don’t realize is that most millionaires aren’t just focused on the dollar signs attached to each project, they’re thinking about the bigger picture. It’s easy to look at things like investment opportunities and immediately assume that because they’ve got a lot of money potential they are a great option for you.

A successful millionaire knows that it goes beyond the surface. In order to make consistently successful decisions about money and investments you’ve got to be looking at the overall value of the project. A successful millionaire knows that it goes beyond the surface. In order to make consistently successful decisions about money and investments you’ve got to be looking at the overall value of the project.

Forbes: The World’s Billionaires

I place a great deal of value on my time. When I look at a project and I’m planning my schedule I look at the scale of it – I need to know just how many hours I’ll spend on it in the upcoming days, weeks, or even months that I might be involved. I want to look at what my upside potential is based on how long something is going to take.

ORGANIZATION IS ESSENTIAL 

You won’t find any success unless you’re keeping on top of your schedule and using your time efficiently and effectively. Even if I’m investing or I’m getting free equity I put serious thought into how much time will be required. Free equity might not really be free if people demand huge amounts of my time along with it. If I’m being asked to provide a lot of time for free, is it worth it? The cost might not be in actual cash, but when I know my worth I know exactly what I’m gaining and losing.

What Are You Missing? The most Important Qualities That Make Exceptional CEO’s… steve

The bottom line is this: how much of your time does something take and what is the upside when you start looking at your overall day? The millionaire mindset means you know when to get rid of things that don’t provide enough benefits for the amount of time they require. It means never undervaluing yourself and your abilities. Successful millionaires know their worth, and they don’t compromise on it. That’s a millionaire mindset.

Want to learn Why Amazon bought Whole FoodsFind Motivation for Entrepreneurship or just want to see how can I help you become a successful entrepreneur? You can find me on InstagramFacebook & Twitter.

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Why Amazon Bought Whole Foods

Amazon dominated the headlines in June when they purchased Whole Foods Market for $13.7 billion. It seemed out of character for the company, which has always existed as an online marketplace. The idea of a brick and mortar store, although previously established, being connected to Amazon seemed strange. Many people were really surprised by the acquisition, but if you look at the reasoning behind it you can see why Amazon saw this as a worthwhile investment.

Amazon is always looking for distribution points!

First, I think Amazon is always looking for distribution points to be able to provide customer fulfillment and operational support. They’re dealing with things on such a large scale all the time. Having Whole Foods provides them with a new source of support for their customers. In addition to food, Whole Foods are now carrying the Echo product line in certain stores and tieing the rewards program into Amazon Prime. Some stores also have Amazon Locker set up, bringing customers into pick-up their online purchases and potentially leading them to purchase groceries in the process.

Bloomberg: Amazon cuts Whole Foods prices as much as 43% on first day. 

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Whole Foods as a business has tons of untapped potential. For example, while many in the grocery industry have started providing delivery Whole Foods has been behind. The company had been struggling prior to Amazon, and customers were just not turning out like they used to. Amazon saw the problem and considered the future possibilities. Developing a delivery service with Whole Foods fit perfectly with Amazon’s entire philosophy and brand. Whole Foods products are now available on Amazon’s website, and customers can include those groceries with their AmazonFresh delivery orders. The additional access to support and potential for delivery is enough to make the billions they spent a worthwhile investment. In fact, Amazon’s shares are up over 31% this year, in large part due to the Whole Foods purchase. They plan to continue integrating themselves further, developing new POS systems that could potentially offer more Amazon products in-store.

Amazon took a struggling retailer and transformed it. What might have seemed out of character at first is actually part of Amazon’s bigger picture to involve itself in every aspect of people’s lives. Taking some risks and enacting change is why Amazon is so successful, and their wide vision is something everyone should try to emulate.

Want to learn more about Understanding Why Businesses Fail?  Find Motivation for Entrepreneurship or just want to see how can I help you become a successful entrepreneur? You can find me on InstagramFacebook & Twitter.

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Understanding Why Businesses Fail

Businesses fail all the time, it’s part of the risk of entrepreneurship. Nobody thinks to ask what went wrong until after the fact, and that’s the biggest problem. Before you start your business you need to anticipate your weaknesses and plan for them. Learn from other’s failures. As Warren Buffett said, “In the business world, the rearview mirror is always clearer than the windshield.”

So what’s the #1 reason businesses fail?

I’ve seen countless entrepreneurs fail because they haven’t surrounded themselves with enough experience and experts. Never think that you can do it all – it takes a team. People come in with brilliant ideas, a fantastic marketing strategy, but they’re no good at finance. Instead of building a team of people who are good at all aspects of running a business they try to take on tasks they aren’t suited for. Failures are caused by not having the right people around you that have been through the ups and downs, because it’s the downs you need to know how to handle.

I’ve seen countless entrepreneurs fail because they haven’t surrounded themselves with enough experience and experts. Never think that you can do it all – it takes a team. People come in with brilliant ideas, a fantastic marketing strategy, but they’re no good at finance. Instead of building a team of people who are good at all aspects of running a business they try to take on tasks they aren’t suited for. Failures are caused by not having the right people around you that have been through the ups and downs, because it’s the downs you need to know how to handle.

You might be aware of your weaknesses, but are unsure what to look for when building a team. Sit down and take a good hard look at what you need the most help with. Be self-critical. Ask people you’ve worked with in the past what you were best at and what you lacked. Write it all down. Once you know what areas you need to personally improve, you know what kind of people you need to hire.

kevin rock

The second most common reason I see businesses fail is because they don’t have enough financing. It’s one of the reasons they end up on Shark Tank! All of this goes back to having the right people on your team. If you bring plenty of financial experience to the table you’ll get the money raised. Check out my post about getting your business funded for ideas on raising capital.

In the end, everyone fails at some point. Success is almost never achieved without trial and error. Don’t let failure stop you from continuing to fight for your dreams, let it make you stronger.

Want to learn more about how to build a successful businessFind Motivation for Entrepreneurship or just want to see how can I help you become a successful entrepreneur? You can find me on Facebook & Twitter.

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Getting Your Business Funded

 

There are countless people out there with fantastic business ideas who have no idea how to get the funding they need. The process of getting funding can be intimidating. Leave no stone unturned – you never know where money might come from unless you try! As Steve Jobs said, “I’m convinced that what separates the successful entrepreneurs from the non-successful ones is pure perseverance.”

steve

However long you think it might take to find investors, it could take longer. The key is to attack from all angles and keep trying. There are many, many routes you can take to find funding, and we’ve got a few suggestions to help get you started:

Crowdfunding

One of the most popular new ways to get investors is through crowdfunding. With the help of the regulation A+ Mini IPO you can now raise money on the internet selling stock directly to the consumer. You can legally raise up to $50 million, and it’s fairly simple. The A+ Mini IPO helps to streamline entrepreneurs’ ability to get in touch with investors across the web.

Angel Investors

I have something called the Angel Investors Network. Angel investors can come from your family and friends, or you can get connected to them through various networking opportunities. Our Angel Investors Network allows entrepreneurs to directly apply and connect with our investors.

kevin digital

Reach Out to Friends and Family

Never, ever underestimate your own personal connections. The people who know you are going to be the first ones to support you, and you’d be surprised how generous they can be. Don’t be afraid to pitch them your ideas.

Go Straight to the Investment Bankers

Get in contact with investment bankers in New York. If you can get someone on board with your ideas they’ll sell directly to their clients. Sound a little daunting? Work on your pitch and keep revising. While some guys at the banks are known to be a bit risk-averse and less interested in startups,

Want to learn more about how to build a successful businessFind Motivation for Entrepreneurship or just want to see how can I help you become a successful entrepreneur? You can find me on Facebook & Twitter.

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What Are You Missing? The Most Important Qualities that Make Exceptional CEO’s

Do you want to be a great CEO? Then you need to grow up and keep learning! Don’t think you have it all together now. Everyone can get better at what they do.

So, what makes a great CEO? I can tell you that it takes at least three qualities.

A Great CEO is a leader

A great CEO is someone who people can look up to and respect. People may fear you, but they may not respect you. People may love you, but they may try to walk all over you.

It is only when people respect you and want to emulate you that you know you are a great CEO.

Steve Jobs is a fitting example of a CEO who was a leader. Jobs was a powerful force at Apple. He had charisma and vision and it made people want to follow him, despite any flaws or weaknesses they may have seen.

steve

History of Success

Because you are a leader, it is important that people see that you have a history of success. It doesn’t necessarily have to be in a business, especially if you have only recently started out, but you should have success in something.

Maybe you went through hardships growing up, or you lost a lot of weight for your health, or you were addicted to something. You grew strong, learned self-control and discipline, and decided what kind of life you wanted to live, then you made it happen.

The self-made billionaire, Li Ka- Shing knows exactly what it costs to become a success. At fifteen he had to quit school when his father died so that he could take care of his family. He worked 16 hours a day in a plastics factory until he eventually created his own company. Now he is the richest person in greater China. That is success!

RELATED: Starting a Business from Scratch

Delegates

Because you are not alone in your company, a great CEO knows how to put powerful people under him or her in very powerful positions. CEO’s know how to trust them with enough authority in their department that they can complete their tasks while maintaining checks and balances so they aren’t running too much on their own.

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It is important to give your people enough rein to run their business or division while making sure that they make timely reports back to you so that you know things are running smoothly.

Being a great CEO isn’t something that just happens. It is something you need to strive for, a goal to meet, a reason to wake up in the morning and be better than you were yesterday. I definitely understand this, because I have to do it every day as well.

Push yourself. Grow. Have a teachable spirit. And if you want to learn even more about how you can become a great CEO, keep watching me. I have a lot more advice and I want to see you succeed in your business!

Want to learn more about how to build a successful business, find motivation for entrepreneurship or just want to see how can I help you become a successful entrepreneur? You can find me on Facebook & Twitter.
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Starting a business from scratch? Follow this advice from Kevin Harrington

Many people seek my advice on how can they quickly and easily get away with starting a business from scratch? Although there is no easy answer to this complex question, I tell them that it is all about the people you surround yourself with.

The herd mentality is not only specific to animals, but it holds equally true for human beings. If this happens to be business experts, consultants or entrepreneurs, then you are on the right track.

Continue reading

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5 Kevin Harrington Articles That Are Perfect For Remote Workers

If you work from home, then we have quite the treat for you.

We are about to unleash five articles that are jam-packed with gems/advice that will surely do every remote worker wonders.

While working from home is a dream come true for so many people, as it should be, if you actually do work from home, then you know how tough it can be. After all, everything becomes a distraction when you are a remote warrior, and so many people won’t take your job seriously.Continue reading

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If You Want Success, Then Do This On The Weekends

It’s 5 p.m. on a Friday, and you are getting ready to leave your office job and enjoy your weekend by not doing any work. Sound familiar?

While we aren’t questioning your working habits, if you can relate to the above sentence, and if you take off the weekends, then you are likely wasting a lot of time. As a result, you probably aren’t where you want to be in life, and your goals and dreams might have even been put on the back burner.

Here’s the deal: If you want success, then you have to work for it. While so many people are looking for that secret ingredient for success, the real way to make all of your wildest dreams come true is by working. You can dream as much as you would like, but your dreams will stay in your head if you don’t take action.Continue reading

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The Main Question Every Entrepreneur Must Answer At Some Point During The Journey Of Success

No matter what type of entrepreneur you want to be, and no matter how much success you are trying to achieve, there is a question you must answer on your journey of success.

Without wasting any time, here it is: What do you want your legacy to be?

Do you want to be known as a great father/mother? Do you want to be known as someone who had it all? Do you want to change the world for the better? Do you simply just want to be known as a person who worked on his/her passions, no matter how tall the climb seemed at first?Continue reading

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What You Do In Your Free Time Will Make Or Break Your Path To Success

What we are about to say will be music to many people’s ears. For others, the opposite will ring true. Nonetheless, here it goes anyway: What you do in your free time will make or break you during your journey of success.

After all, so many people work Monday through Friday, or at least 30 to 50 hours per week. Unless you are constantly putting your foot on the gas pedal during working hours, or are a machine when it comes to productivity, it is going to be a challenge to get ahead of the competition. However, that is where nights and weekends come into play. Of course, mornings can play a big role in this as well — if you are using the waking hours to your advantage.Continue reading