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Entrepreneur Lesson: Start Up Entrepreneurs Pool Knowledge and Network Resources to Make Faster Progress at Much Less Cost
Before he flooded the earth, God spoke to Noah and told him to prepare an ark. Into that ark, Noah should put his family, provisions and a male and female pair of animals in order to survive the flood. With God’s help, Noah and his family survived. Today entrepreneurs are faced with a modern flood of competition from new global competitors and opportunities to access new markets that were unavailable before. Like Noah and his family, entrepreneurs are banding together with other entrepreneurs in a new organization, The Billionaire Entrepreneurs’ Master Mind, to create an ark of entrepreneurial knowledge and cooperation that will help them float above the competitive global flood and prosper in its aftermath with God’s help.
Weston, MA (PRWEB) January 29, 2006 -- Entrepreneur start ups seeking rapid gains from around the world are joining together in The Billionaire Entrepreneurs' Master Mind, http://billiondollarbusiness.blogspot.com/, to pool their knowledge and network resources to gain advantages over competitors at a bargain basement cost.
According to widely published studies, entrepreneur led start ups usually fail to meet their owner's expectations. What's worse is that within a few years most of these start ups are out of business.
To avoid that unfortunate fate, wealthy entrepreneurs often sink hundreds of thousands of dollars into developing business models and plans for their new ventures. Equally ambitious entrepreneurs who could not afford such expenses before now simply made do with inadequate preparation.
But now, entrepreneurs from around the world based in countries like Indonesia, Lesotho, Nigeria and Tanzania are finding that they can move ahead of such well-funded start ups by pooling their resources and focusing on more helpful start up activities.
To enable such cooperation, these savvy entrepreneurs have formed The Billionaire Entrepreneurs' Master Mind, a group of entrepreneurs who pledge to build billion dollar businesses by focusing on the key tasks for start up success and helping one another to accomplish those tasks.
By combining their efforts and funds, each entrepreneur will receive the development support they need for a few thousand dollars rather than the hundreds of thousands that others spend. By checking their ideas with the group on a regular basis, entrepreneurs will also have the benefit of accessing dozens of outside experts who can help them. Many of these entrepreneurs will form alliances with one another to reduce development, marketing and operational costs further. The group prohibits competitors from joining in order to foster a free exchange of ideas and support.
Members have used research on major entrepreneurial successes to select these 7 key tasks to work on in The Billionaire Entrepreneurs' Master Mind:
― Creating a major new market or expanding an old one by 20 times
― Reducing the costs of customers and beneficiaries to use the start up’s offerings to a small fraction of current levels
― Adding customers 20 times faster than competitors at low cost
― Improving the start up’s business model at least every four years
― Employing a business model that doesn’t require much external equity capital
― Building a management team deep in innovation, operations, finance and marketing
― Searching to find out what they didn’t know that they didn’t know.
This new organization begins operating on February 1, 2006. Charter memberships are available before then.
This focus reminds many entrepreneurs of God's advice to Noah in preparing for the flood: Stick together and do the right things, and you will inherit a rich future.
Donald Mitchell noted: "Entrepreneurs often fail because they try to do everything themselves. While entrepreneurs are scurrying around like a chicken with its head cut off, important tasks are being ignored or delayed. Yet anyone can reach their goals if they get lots of feedback to let them know when they are on and off course. The Billionaire Entrepreneurs' Master Mind will serve like the autopilot on a jet liner that keeps the plane headed towards its destination while the pilot and co-pilot are occupied in other ways."
The Billionaire Entrepreneurs’ Master Mind,
http://billiondollarbusiness.blogspot.com/, a global learning organization that helps entrepreneurs create billion dollar businesses from start ups is headed by Donald Mitchell (co-author of The 2,000 Percent Solution http://www.2000percentsolution.com/, The 2,000 Percent Solution Workbook http://2000percentsolutions.blogspot.com/, The Ultimate Competitive Advantage and The Irresistible Growth Enterprise http://www.irresistibleforces.com/).
A media tele-conference will be held at 2 p.m. EST on Wednesday, February 1, 2006. Please dial 1-712-580-7706 (passcode 16474222#) to join this tele-conference.
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