Fight for your Business Life as an Entrepreneur

The MEGA World of Lil Mogul

Watching Olympic athletes compete, we’re taken to a place where special humans participate in a noble cause. These heroes commit countless hours over many years, pushing their minds and bodies to achieve a level of excellence that might qualify them to … merely to be on an Olympic team to represent their country.

Notice neither winning medals nor glory were mentioned. Most Olympians find neither, and yet they try.

Watching an event, we’re at once self-conscious and grateful when the long lens of the camera invades that private moment just prior to the competition. Self-conscious because of the intrusion but grateful to share this moment and benefit vicariously from the Herculean effort about to be displayed.

The camera moves in closer. We can see the Olympian’s eyes and imagine their thoughts. The runner is thinking, “Twelve years and it all comes down to the next few seconds. Must remember the fundamentals.” The gymnast is having a word with herself, “Today, nothing less than my personal best.”

Then the long lens captures the mouth. There’s a lick to fight the cotton mouth that only those who risk failure have tasted. The lips move slightly to offer a prayer or claim an affirmation.

Small business owners are a lot like Olympic athletes: They commit countless hours over many years, pushing mind and body to achieve a level of excellence that might somehow allow them to … merely make a living. Medals and glory? Most small business owners find neither and yet they show up, year after year, to work, to deliver and to contribute.

Like an Olympic race, the future of a small business often rides on the owner’s performance over a very short period. If the camera could take you in close, you would see the owner thinking: “All these years of work and risk could come down to how well I deliver this proposal in the next few minutes. Must remember the fundamentals.” The long lens would capture the mouth. There’s the lick to lessen the cotton mouth that only those who risk failure have tasted. Then the lips move, ever so slightly, to offer a prayer or claim an affirmation.

Olympians and small business owners are dedicated to what they love. They work hard, take great risks and seek excellence, against all odds and usually at their own expense. To all my entrepreneurs continue the FIGHT within and live that MEGA Dream. The spirit of Olympians and Small Business Owners makes the world a better place.

Playing The Bigger Game - PART 4

The MEGA World of Lil Mogul

by Lil Mogul

STEP 4: Reduce The Number Of Steps It Takes To Get To Your Goal
Scary food for thought: How hard are you going to have to work to get to where you want to be? Think about it, seriously. With your current business model, how much time and effort is it going to take you to hit your goals? If you want to make 6 figures or 7 figures and you’re starting out with no audience or REAL plan.

Maybe you have a $50 an hour consulting business and want to make $500,000 a year … not going to happen unless you change your business model.

At the first marketing conference I ever went to, I remember talking to a “big shot” who was selling $20,000 a month worth of products. He asked me how much money I wanted to make with my business, and I told him.

He then asked me this question:
“How many steps do you want it to take to get there?”
That’s a game-changing question if I ever heard one. If you truly want to play a bigger game, you need to ask it at EVERY step in your business. If you don’t, you’ll be using small strategies and trapping yourself in the prison of limited thinking.

If you want to make $500,000 a year, being a $50 an hour consultant means it takes 10,000 steps (hours) to get there. Not good, considering there aren’t even that many hours in a year. Sure, you could try and raise your rates to $100 an hour, but 5,000 hours a year is still a 100-hour work week, 50 weeks a year. So what if you didn’t want to take 10,000 steps, or even 5,000? What if you wanted to take … 50? Well… you’d have to change your entire strategy and completely alter your way of doing business.

Yeah, that’s what the bigger game is all about. $500,000 / 50 = $10,000 a step. So how do you get that when you’re used to making $50 an hour?
Maybe you create a product.
Maybe you hold workshops.
Maybe you start a certification program and train people you can outsource.
Maybe you look for affluent clients.
Maybe you … do something crazy … like pick a more profitable industry entirely.

Here’s the insanely powerful effect of reducing the number of steps it takes to get to your goal: It forces you to ask questions that open up opportunities you would have never thought of at the 10,000 step level.

10,000 steps = tiny steps. 50 steps = big steps, requiring a bigger game.
What if you looked at your current business model and cut the number of steps by a factor of 10? In other words, if your average sale is $25, what would you have to do differently to make it $250? If your average client is worth $1,000, what would you have to do differently to start bringing in $10,000 clients?

Chances are you’d have to do a lot of things differently. But if you shorten your journey by a factor of 10, isn’t this question worth asking? Oh, one important thing: This process only works when you reduce the number of steps by a factor of at least 5 or 10. If you just try and reduce the number of steps by a factor of two, you’ll probably just try to work harder at the game you’re already playing. You want to open your mind to a whole new game.

This whole process is kind of scary, kind of fun, and extremely liberating. I’ll walk you through it. Game on.

Until the next time, have a GREAT Week.
Lil Mogul

Playing The Bigger Game - PART 3

The MEGA World of Lil Mogul
by Lil Mogul

STEP 3: Assign Value To Failures (Instead of Fearing Them & Punishing Yourself)

STAY IN THE GAME!

Playing a bigger game means putting yourself out there and taking some chances … many of which will fail.

Let me repeat that:
Many of the chances you take will lead to failure. Not some. Many! However; here’s the secret: Those people who succeed? The ones you’re (secretly) jealous of? They were willing to fail a lot on the way to their success. Even for the “big shots” out there, you’ll find no shortage of people who refuse their calls … reject their ideas … never return emails …

That’s okay, because you’ve got to dig through a lot of rock to uncover those diamonds. Don’t take my word for it – check out what this “loser” has to say:

"I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed." – Michael Jordan

Yeah, it’s easy for Michael to say, right, because he was always a big shot, right? Uh … no! He tried out for his high school varsity team and … failed. He didn’t make the cut. So he quit, because he’s a failure and that’s what you should do when you realize that you’re a loser. Oh, wait, no he didn’t. He got put on the junior varsity team instead so he could work on his skills. He went to basketball camp. Worked at it, and got to varsity by junior year. And the rest is history. And that history includes losing over 300 games – 26 of them that were completely his fault. In front of everybody. Oh, the dra-ma.

Here’s the thing: Those failures were part of his strategy of continually getting better at his game and figuring out what strategies worked.

Now, I’m not going to tell you to just think positive and keep trying, for the sake of being motivational. That’s crap and you know it. You don’t care that he lost 300 games because he’s rich and famous and there are shoes named after him. Things are still hard for you. You don’t care that Edison tried 10,000 times (really?) to create a light bulb, because life is tough for you.

That’s because you’re taking your failures personally. You’re worrying about what people will think of you and what it will feel like. You’re looking at failure as a loss. Failures aren’t losses. They’re investments...
Think about this very carefully.

Failures help you aim and focus. Remember the game 20 questions? You didn’t expect to guess the right thing the first time (or even the 10th time). If you’ve played the game enough you know the pattern. Getting a bunch of “No” answers up front is great because it reduces the number of possible things to guess. It’s the same way with business life – you can try something, see if that strategy works, and if it doesn’t you can try a different strategy. Nobody says “You sank my battleship” on the first try, and nobody cares.

Failures help you make progress faster. A paradox, but the truth. Once you actually start taking action, you find out a lot more about what you really want and how you want to go about it. You will often find that your business idea is either flawed or doesn’t scale. This helps you immediately focus on coming up with strategies that will get you there faster. There’s no substitute for putting your ideas out there, watching them flounder and learning from them. If you’re not doing that because you’re afraid of the searing fires of hell that accompany failure you’re looking at it the wrong way.

Those aren’t the fires of hell come for your soul (and reputation!) – they’re a refiner’s fire, burning off the dross and helping get to the gold inside that you’re really after. There’s the old military expression “No battle plan ever survives first contact.” Once you get in the trenches you’ll see where you went wrong – and get valuable clues to what you really need to be doing.

Failures attract the attention of other “failures.” And you want this, big time. Because when you put yourself out there – even if you fall on your face – you’re getting the attention of people higher up the food chain than you are. People who know the value of trying and failing and retrying. You’re showing them you’re willing to pay your dues – just as they did – and you’ll win their respect (and perhaps some cooperation as well). Remember, the people up the food chain have had the stones to fail more than you have. Start catching up if you want their attention.

Failures have essential by-products. Let’s say you try some joint venture with someone else in your field and it bombs. Failure? Not if you have a stronger relationship with the partner, or with affiliates, or even with the people who you were exposed to. Not if you learned something new about technology, or came up with a new product idea, or discovered that your launch bombed because your audience was really looking for ___X___.

Just because you didn’t get what you wanted doesn’t mean it’s not insanely valuable. Dr. Spence Silver came up with a failure of an adhesive in 1968 – it woudn’t stick strongly to anything at all. 6 years later, his colleague came up with the idea of using it for Post-It notes. Missing the original goal can be just fine. Find a use for what you have on hand as a result of the process.

Real winners know that failures are necessary investments for THE FUTURE success. Don’t be afraid to fail. Just make sure you’re failing forward. Don’t accept any other option on the rough side of the mountain. Yeah, it sounds painful but I’ll walk you through some good stuff to make it easier. I’ve got your back. Game on.

Until Next Time… have a great week!

Lil Mogul

Blue Chip Company - ClubVIPLister.com

It’s February, Black History Month!!! I wanted to highlight a number of people who are black businessmen and women. With only (4) Tuesday this month, I decided to honor both Pioneers that had the passion and foresight to stay in the game while celebrating our FUTURE Moguls who are creating their empires today. In the next few weeks you will meet Blue Chip Company Founders, Creators and CEO's like: Lynne Rene of Royalty Media Group, Sir Daniel & Drama Dupree of Better Days Radio and Darnell Henderson of H.I.M-istry Skincare partnered with business pioneers; Reginald Lewis, Cathy Hughes and Madame CJ Walker.

The pioneer of black cable television is Bob Johnson. Born Robert L. "Bob" Johnson on April 8, 1946, Johnson is the founder of Black Entertainment Television (BET), and former chairman and CEO. He is currently chairman and founder of RLJ Development and majority-owner of the Charlotte Bobcats, a NBA franchise along with rapper Nelly and NBA legend Michael Jordan. In 2001 Johnson became the first African American billionaire, and the first black person to be listed on any of Forbes world's rich list. In 2009 Forbes estimated that his net worth declined to $550 million because of the economic recession.

A cable network is a television channel available via cable television. Such channels are usually also available via satellite television, including direct broadcast satellite providers such as DirecTV, Dish Network and BSkyB. Alternative terms include non-broadcast channel or programming service, the latter being mainly used in legal contexts. In 1979, Johnson created BET, the first cable television network aimed to African Americans. It was launched in January 1980, initially broadcasting for two hours a week.

Eleven years later, BET became the first black-controlled company listed on the NYSE. As of 2007, BET reaches more than 65 million U.S. homes and expanded into other BET-related television channels that make up the BET Networks: Centric TV , and digital cable channels BET Hip-Hop and BET Gospel.

In 1998, Johnson took the company private, buying back all of its publicly traded stock. In 1999, BET was no longer a black owned business when Viacom bought BET for $3 billion. Johnson's 63% stake made him worth over a billion dollars after taxes, making him the richest black person until surrendering the title to

Oprah Winfrey, when then-wife Sheila Johnson claimed much of his billion in divorce. Johnson continued to be the company's chairman and CEO for six years. In 2005, Johnson turned over the titles of President and Chief Operating Officer of BET to Debra L. Lee, a former BET vice president.

A Future Mogul Blue Chip Company to keep your eyes out for is ClubVIPlister.com. Formed in 2009, Founder and CEO Toyce Francis (TF) shares with Lil Mogul (LM) his view on small business, success and his 10 year plan.

LM: What’s your Zodiac Sign?
TF: Aquarian

LM: Where were you born?
TF: Bridgeport, Connecticut

LM: Where do you currently live?
TF: Harlem USA

LM: Where did you go to college?
TF: BA in Communications – University of CT, MBA & MA in Management – Albertus Magnus College

LM: What do you do (career or claim to FAME)?
TF: Aside from my boutique web design agency, Prodigal Sun Design (www.prodigalsun.com) I am an Internet Entrepreneur. I just soft launched a new endeavor called ClubVIPlister.com that includes national gay nightlife listings, social networking, an entertainment blog, gay YouTube mega channel and lots of other cool features. Think gay facebook with nightlife listings.

LM: How did you get started in your new found career or industry?
TF: Initially, I presented my idea to some established LGBT magazines as additions to the websites that my company maintained. But each organization was more concerned with the cost than the opportunity. I then decided to stop giving away my ideas and to just do it myself.

LM: Do you think entrepreneurship is for everyone and/or important?
TF: It’s definitely not for everyone. It takes courage, tenacity and most of all the ability to tolerate uncertainty. Sure you can get a job with a guaranteed paycheck at maybe 65K a year, but that is the limit of what you could make. Whereas on your own, you may not have the guarantee of 65K, but your earning potential is only limited by your imagination... Most people opt for the paycheck.

LM: What was one of your highlights as an entrepreneur or during your career path?
TF: So far, my biggest accomplishment is completing the initial building phase of ClubVIPlister.com. It’s the realization of over a year of hard work and planning. But my greatest highlights are yet to come.

LM: What would you share with other getting started as an entrepreneur or on their career path?
TF: You have to believe in yourself, your abilities and your product. Don’t let naysayers stop you from pursuing your goals.

LM: If you can TELL the community to AWAKE UP – What should they be aware of?
TF: It annoys me when people hear me talk about my goals, and act as if it’s a pie in the sky fantasy. People become millionaires every day. Why can’t I be one of them? Why can’t you or anyone for that matter? And why not dream big and aspire to major goals. Dreaming is FREE! Oprah started somewhere. People can be so small minded in their thinking. So I want the community to think bigger and not so colloquially. And if you can’t wrap your head around the big dreams of others... Keep it to yourself.



LM: What is your ultimate 10 year plan for The Future?
TF: I see myself sitting comfortably on at least 8 figures, with several successful businesses including more web projects, some TV & Film productions as well as some real estate investments. I see myself positively impacting the lives of my family, those around me and the community. And I see all this from the terrace of my penthouse apartment with spectacular views of the city.

LM: What motto do you live by?
TF: Insanity is doing the same thing over and over but expecting a different result.

LM: President Obama has completed 1 year in office what do you think about this performance?
TF: He can’t fix the worst economic break down since the great depression in a year. And its especially difficult given the partisan politics of Washington. I think that he is doing the best job that he can, given the multitude of issues he inherited from the dumbest president in history.

LM: Have you seen a Change?
TF: It’s too soon to see any real results. Ask me again in 3 years.

LM: How will your service assist the consumer and/or community?
TF: My goal with this site is to make this site not only a good resource that lets people know what is happening in the community, but also helps people connect.

LM: What is next to the site?
TF: For now, I am just really focused on making this project a success. I have a bunch of other projects in preliminary phases... Doing research, making contacts, laying the groundwork but its too premature to reveal just yet. You will have to wait to see about those. So for now, check out www.ClubVIPlister.com and create a profile. Get on the list.

Playing the BIGGER Game!!!

The MEGA World of Lil Mogul

by Lil Mogul

This weekend, I received an e-mail from a business associate that had me really thinking. So, I wanted to share it with all my weekly readers. The article was very long, I decided to create a 7 part series called Playing A Bigger Game. It was written by Dave Navarro; however, I applied and added a number of principles as well as comments/statements from my new business practices.

There’s an old saying that “Nothing works until you do” – and it couldn’t be more true. No matter how much you might wish for heaven and earth to move just because you want it to, you have to cowboy up and take action. The problem is that most of us don’t take actions that match up with our goals - we’re not “congruent” with them and we play small. Hey, that doesn’t get us anywhere.

If you want to shave years off of the time it takes to get to your “stretch” goals you need to do some stretching yourself – you’re going to need to play a much bigger game. No doubt you know this already (you hear it everywhere, don’t you?), but have you really been doing something about it?

You may have been caught up in the urgencies of life so far, but it ends now. We make this work together. I’ve got your back and will tell you what’s worked really well for me. Let’s talk about the reasons you aren’t playing as big a game as you could be right now: Fear and Distraction.

Fear. Playing a bigger game = doing what it takes to get the things you say you really want = doing more and being more than you’ve ever been in the past. That’s scary, but I’m about to help you move past that fear.

Distraction. Yeah, you’ve got a lot going on in your life. Maybe too much. But what do you do? Answer: You make the time (starting with just 30 minutes) and you create a plan. The making the time part is easier than you think – take a lunch hour, but take it by yourself. Put “American Idol or Project Runway” on DVR this week instead of watching it live. Whatever… You can do this! You just have to decide to start with a few minutes soon. Once you’ve decided where you’re going to spend your first 30 minutes of thinking time, with your notebook and bam, you’ve got your plan. You don’t have to start from scratch, the scratch is done for you.

For the next seven weeks, we’re going to dig into seven strategies you can start using playing a bigger game and getting more out of your life and your business.

We can do the exercises together.

Until then… Have a GREAT week.

Next is NOW: Young, Black and Fabulous

Natasha Eubanks: YBF Creator Chosen for Black Enterprise's 'Next Is Now' Cover Story
By Bridget Bland

Natasha Eubanks, founder and CEO of the popular black celebrity blog Young Black and Fabulous -- more commonly known as TheYBF.com -- joins three other young entrepreneurs on the cover of the January 2010 issue of Black Enterprise magazine.

The monthly black business periodical chose to profile its "BE Nexters" -- young professionals all under 35 -- making moves in their respective fields. Eubanks, who launched her blog in 2005 after noticing a lack of African Americans featured on gossip sites, had aspirations of being a lawyer.

"I didn't even really know what a blog was when I started YBF. I was just playing around the 'net, filling my boredom of my hostess job at the Olive Garden and waiting on [law] school to start," she shared.

In her feature story for BE, the former aspiring lobbyist revealed how her parents discouraged her from abandoning her Loyola Law School endeavors.

"My mom was like, 'Oh, no, no, no, there's no money in that. ...My parents thought it was a really bad move."

But against her parent's urgings, she decided to try it anyway.

To read the entire story, go to:

AOL Black Voices

Remix TUESDAY with Mentor Lil Mogul 2009

The Sign of the Times, YOUTH & POWER
By Lil Mogul

This week's December remix Tuesday comes from Tuesday, October 6, 2009. I get a kick out of being Lil Mogul. I have become a mentor to so many people. My disciples, ok, ok, ok mini moguls, (is that better…) inspire me on so many levels. Teneille, Eric, Troy, all the D’s kidz… DeShawn, Dee Dee, Dexstar, Derron, Deulon and Dwight are young entrepreneurs with passion, energy and motivation. I encourage them to explore all possibilities and strive for the very best while challenging themselves to achieve their deepest dreams. No one said the road would be easy, so plan for the long journey, enjoy the ride and their goals will be within reach.

Every so often we meet someone or a group that empowers us. It becomes clear on why we do what we do. The passion, the drive and the feeling of wonderful bliss comes over us. I had the pleasure of experiencing these feelings when I met the Williams Sister this past June. Tiffanie (15), Twana (14) and Victoria (13) triple threats from Columbia, SC are a sibling group of dancers, models, actors and motivational speakers. However, what makes these young ladies different, they are entrepreneurs. They started a company called Drive Safe, committed to making our roads and highways safer for all motorists, especially young teenage drivers. The Sisters created www.DriveSafeSigns.com, Driver Safety Notification Signs which they hold US Patent # D501892.

Collectively, they have won titles such as; Black Enterprise Magazine’s Teen Preneurs of the Year, Merrill Lynch Young Entrepreneur Award, and President’s Leadership Award from Columbia, SC NAACP Youth Council. They have been recognized by South Carolina’s Governor Mark Sanford, Senator Joel Lourie, Majority Whip Congressman James E. Clyburn and Associate Administrator for National Civil Rights, Fredrick D. Isler. They were accepted in the Darla Moore School of Business Technology and have caught the attention of cooperate companies like General Motors, McDonalds, Black Enterprise, Wal-Mart, State Farm to name a few. The Sisters hold a Small & Minority Business Certificate from The State of South Carolina. YES!!! I said a S&M Business Certificate...
After speaking with the Williams Sister, I have realized the mentor can easily become the mentee.

GO TEEN GIRL POWER!!!

Small Business Likes Obama's Plan after Six Months

Obama's $15 billion plan loosens credit gets high marks from entrepreneurs.
Obama's Small Business Stimulus Plan - Start Your Small Business With Obama's Stimulus Package

If you have been struggling with trying to stay in business, you're not alone. The slow economy has been responsible for affecting the lives of millions, for the US and everywhere else. Entrepreneurs and small-business owners who groaned about corporate government bailouts received word in March of this year that President Obama announced a plan to inject $15 billion into the small-business loan market. He has seen what homeowners, companies, and consumers are going through, and put forth a $787 billion stimulus in February of 2009 to promote economic growth.

Among those who are pegged to receive assistance through funding and the addition of jobs include scientific research groups, schools, energy programs, Medicaid, and contractors. But what about small business owners? Are you eligible? How do you go about the application process?

The good news is that since everyone is facing financial strains, the Stimulus has a program that targets small businesses. Receiving assistance can make the difference in having your company rise above to the level of bigger corporations with whom you might have been finding difficult to compete. Here's what you can do to benefit from the Stimulus:
The Small Business Administration (SBA) has come up with a way for you to be guaranteed for up to a $35,000 loan without having to pay for it for up to 12 months. They have $426,000,000 in government funding to use toward helping small businesses like yours, so that it keep you from losing your company.

Have high interest rates kept you from obtaining a

loan in the past? You no longer have to worry about that. Under the Stimulus, you are able to refinance a small business loan of up to $10,000,000 if it was issued before the Stimulus went into affect. Did you know that you can increase your company's private capital or investments from 300% or $15 million, depending on the lesser amount, to 300% or $150 million as the maximum? This will enable your business to become established in the marketplace and local community, so that you can continue to grow your business using Stimulus money for marketing, professional development, or applying the funds to areas of your company that need it most.

For tips and facts about how you can benefit from Obama's Home Stimulus Plan - or to find out if you qualify, visit the no nonsense home stimulus guide: http://ObamasStimulusPackage.net

This video was posted one month before Obama was elected President