The Secret to Accurately Predicting your Future

Today's quote is related to future success. It is increasingly difficult to predict the future based on the past, but Peter Drucker has the answer:

“The best way to predict your future is to create it”
― Peter F. Drucker

Following others will not help you here. You have to forge your own future. This is what entrepreneurs do. They create their own reality. You won't find them looking for success in increasingly crowded market spaces, but instead they are creating new spaces where they have first mover advantage.

Be a leader not a follower.

I can recommend a fantastic book on this by Peter Thiel, the founder of PayPal, called From Zero to One.

Good luck with your business pursuits.

Regards

DK

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Self Education will make you a Fortune

Formal education will make you a living; self-education will make you a fortune.

– Jim Rohn

I just found the quote above and it is very true. If you look at the great entrepreneurs most of them were self starting and self taught. Many such as Gates, Branson, Rose, Karp and Zuckerburg dropped out of college or didn't go to college at all. College will help you to understand how the world works now, but only rarely will it teach you about what is to come or what is happening at the fiery leading edge of real innovative thought.

Entrepreneurs are by nature confident in their own abilities and don't need any outside affirmation or degrees to bolster what they do. They just go out and do it.

Taking the formal education route in business (esp. MBA's at Ivy League schools) will leave you burdened with debt that will cripple your ability to be truly innovative. The money spent on formal education could have been diverted into developing your own business or furthering your innovations.

I am not against formal education as I have graduate and post graduate degrees but I have learned more on how to succeed by self education and learning from business projects that stretch my skills and gain me experience.

Formal education will indeed help you to make a living (though many MBA's are struggling to get jobs and pay off debt) but what you learn by yourself may be the pathway to a fortune. Following conventional wisdom will not equip you to handle and think about the next unique, groundbreaking advance.

DK

Drive traffic to your Blog

Family Business

My daughter is setting up her own business as a photographer and an associated social networking site. I have been invited to be a site admin but I am forbidden from posting anything lol.

Will give more details later.

I am a great believer in setting up your own company. You do the work and you get the profits, not some employer or shareholder.

My oldest daughter already has 2 successful and profitable businesses.

I will post more details later.

I Love Failing

One of the joys of being in business is related to the opportunity to continually learn. Like most people I have received the most benefit from learning what doesn't work and trying something else.

Thomas Watson Snr, the founder of IBM, was once asked by a young man, "How can I double my success rate?". Watson's reply seems counter-intuitive but is so correct based on my experience.

So what was the answer? Well, Watson replied with the words, "Quadruple your failure rate".

So to succeed you need to fail. Most successful entrepreneurs fail a number of times before they win big. Their failures and tenacity allow them to carry on and succeed.

The take away message is to succeed you must learn from your failures and not be dejected by them. This gives you the resilience to succeed.

DK

Try something New

To win in business you need to be ahead of the game. The winner takes the spoils. I have been experimenting with Twitter and getting great results. I have four blogs and I regularly go in and twitter them. This brings a number of hits to my blogs which equals more sales.

Not everything new works but trying helps to keep your mind active and agile.


DK

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