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Monday, June 20, 2011

Can You Find Hidden Profits in Your Business?

What really makes the difference between a really profitable business and one that never comes anywhere near its’ full potential? I will give you a clue; it is something that Google does... a lot.

The difference I am talking about is simply this; there are those entrepreneurs who are constantly trying out new things and there are those who are terrified of risk—any small risk. In my time I have met many of the latter type. Such people have no business being entrepreneurs if you ask me and indeed many of them no longer are. Those who are still in it are limping along 20 years later. I have also met a few of the former type, actually they are very few. Too few true entrepreneurs.

Admittedly if you are reckless enough to keep on trying new things on your already profitable business you are bound to fail many times and naturally this is very embarrassing. Indeed if you carefully examine Google, you will discover that it has had very spectacular failures in its’ continued “reckless” efforts to always try out new things.

But out of every 99 “reckless” failures comes one spectacular success that cancels the failures and gives you untold wealth and profits. Oh yes, it happens all the time. And that, you can be sure of. The problem here is that most folks who call themselves entrepreneurs don’t have the stomach for those 99 failures. In fact you should ask yourself a simple question; have you tried out 99 new things in your online business over the last year? Over the last 5 years? Okay that is too many. Have you tried out half that number? 25 per cent of that number? That is precisely my point and it is the reason why there are not too many Googles around.

Consider that Google is a $US100 billion company that did not exist barely 12 years ago. Here is what the founders Sergey Brin (37) and Larry Page (38) had to say in September 2003 in a talk they gave to hundreds of Israeli students at a high school in Israel.

“Have a healthy disregard for the impossible… You should try to do things that most people would not.” –Larry Page.

“The only way you are going to have success is to have lots of failures first.”
-Sergey Brin

Google is not a $US 100 billion company for nothing and they have done a lot of interesting “reckless” things. The propensity to take risk on one hand and the fear to risk anything is the huge difference between entrepreneurs who limp along and those who reach the moon.

Interested in finding Hidden profits in your business?

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