Lessons In Entrepreneurship

The Opes Group Lessons in Entrepreneurship

Agenda
Introduction
Why – The Only Question You Need
Power Team and Mentors
Goals are Essential
Lessons Learned
Resources
Questions

Introduction
Darryl Kraemer, MBA
President, The Opes Group
President, The Ivy Parker Group
Completed MBA at WLU in 2007
B. Math from UW in 1999
Solution Architect for Agfa HealthCare, 9+ yrs
http://www.linkedin.com/in/darrylkraemer

Why?
Tenants – why should they rent from us?
Lenders – why should they loan us the money?
Investors – why should they give us their hard earned money?
Sellers – why should they accept our offer?
Realtor – why should they spend time looking for properties for us?
Always ask why, and then answer it!

Don’t reinvent the wheel
Find a successful person in your field of interest, learn what they are doing and emulate them
Success doesn’t happen by chance, it is the result of good daily habits
If you keep on doing what you've always done, then you will keep on getting what you've always got.

Overnight sensations took years of preparation

Goals
Why do 3% of Harvard MBA’s make 10x as much as the other 97% combined ?

Goals
In 1979, interviewers asked the graduating MBA class the following questions:
How many of you have no goals?
How many of you have goals, but have never written them down?
How many of you have clear, written goals and plans to accomplish them?

Goals
How many of you have no goals? 84%
How many of you have goals, but have never written them down?

Goals
How many of you have goals, but have never written them down? 13%

Goals
How many of you have goals, but have never written them down? 13%
How many of you have clear, written goals and plans to accomplish them? 3%

Goals
In 1989, they interviewed the same people and here are the results:
The 13% who had goals , but didn’t write them down were earning, on average, twice as much as the 84% with no goals
The 3% who had clear, written goals were earning, on average, ten times as much as the other 97% put together!

Lessons Learned
Spend the time and money up front on a shareholder’s agreement
Interview your Power Team and partner with the best (lawyers, accountants, specialists – mortgage brokers, bankers, realtors, property managers, property inspectors, etc…)
If you are the smartest person on the team, you are in trouble!
Get everything in writing

Resources
Books
Art of the Start, Rich Dad Poor Dad, Never Eat Alone, Hot Flat and Crowded, Made to Stick, Good to Great, The E-Myth Revisited, Secrets of the Millionaire Mind, 7 Habits of Highly Effective People, The 4hr Work Week, Think and Grow Rich, Tribes
Audio CD’s
Tony Robbins, Jim Rohn
Blogs
Communitech, Seth Godin, Tim Ferriss, YoungEntrepeneur.com, Guy Kawasaki, TechCrunch, TEDBlog,

Questions

Lessons In Entrepreneurship

by Darryl Kraemer on Apr 28, 2010

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