Use Your Mental Capital Rather than Venture Capital

Good morning, Live Better than a Billionaire-a-Holics! Are you feeling motivated this morning? I certainly hope so. I know that I am! The Billionaire Entrepreneurs' Master Mind put out a press release this morning that I thought you might find helpful. Here it is: Entrepreneur Lesson: Start Ups Should Avoid Venture Capital and Focus on 7 Key Tasks Instead Based a New Study

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When David defeated Goliath, he used only a sling and some stones. Leveraging his skill and focus, David aimed his stones at the right spot and the rest is history. Entrepreneurs today launching start ups are finding that venture capital makes them vulnerable like Goliath while mental capital makes them agile and effective like David. Weston, MA (PR WEB) January 18, 2006 ― Entrepreneur start ups seeking venture capital are less likely to create billion dollar businesses than start ups that focus on 7 key tasks based on a new study. The Billionaire Entrepreneurs’ Master Mind, http://billiondollarbusiness.blogspot.com/, a global learning organization that helps entrepreneurs create billion dollar businesses from start ups 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/), examined the large companies that had the fastest growth under one CEO from 1989-2002. Most of the top performers were begun by an entrepreneur as a start up. The majority of these top-performing former start ups never relied on venture capital. Examples include Clear Channel Communications, Paychex, Virgin Group and Wal-Mart. Their beginnings were often humble. Sir Richard Branson dropped out of high school to start Virgin. Tom Golisano started Paychex in a one-room office with two colleagues. Instead of venture capital, the entrepreneurs focused their start ups on 7 key tasks: ― 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 ― 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 didn’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. Donald Mitchell noted: “Venture capital is expensive because investors are seeking huge gains. Fields that attract venture capital soon have too many competitors. Venture capitalists are quick to fire entrepreneurs who fail to meet their business plan goals. Firms without venture capital learn how to create leaner, more competitive businesses that can become highly prosperous.” A press conference for members of the media will be held at 4 p.m. EST today, January 18, to discuss this research and how entrepreneurs can build their businesses more successfully. To register for this press conference, send an e-mail before 4 p.m. EST today to e-mail protected from spam bots and directions to join the call will be sent to you. Label your e-mail subject as "Entrepreneur Lesson Press Conference". # # # Please let me know what else you would like to learn, and I'll do my best to help in future blog entries. Thanks so much for your support of this blog. I'm delighted that so many tens of thousands of people have made this blog part of their regular reading habit! If you like this blog, please let others know who might also enjoy it. E-mailing your favorite post to them is a great idea. Thank you to my many friends, students, clients and blog readers who are spreading the good word about this blog. If you are visiting today because someone invited you, I'm delighted to meet you! Let's stay in touch. Remember to also visit Live Spiritually Better than a Billionaire at http://livespirituallybetterthanabillionaire.blogspot.com/, Enjoy Mansions Better than a Billionaire at http://enjoymansionsbetterthanabillionaire.blogspot.com/, Enjoy Football Better than a Billionaire at http://enjoyfootballbetterthanabillionaire.blogspot.com/ and Be a World Hero Better than a Billionaire at http://beaworldherobetterthanabillionaire.blogspot.com/. I offer individual on-line tutorials and in-person seminars on creating 2,000 percent solutions (20 times the results with the same effort), developing more profitable business models and designing strategies that work regardless of the business environment. For information, contact me at ultimatecompetitiveadvantage@yahoo.com. I am available to you as a speaker on these subjects. You can find my background at http://livebetterthanabillionaireon5dollars.blogspot.com/2005_08_30_livebetterthanabillionaireon5dollars_archive.html/. May God bless you. Donald W. Mitchell Your Dream Concierge Copyright 2006 Donald W. Mitchell