| In this issue, we are very pleased to introduce Harvey Mackay, bestselling author and business success expert, to all you Early to Risers out there. We expect Harvey, who you probably know from his books, Swim With the Sharks Without Being Eaten Alive and Beware the Naked Man Who Offers You His Shirt, among others, to become a regular contributor. In his essay today, Harvey reveals why he never "gambles" in business. --------------------------------------------------Highly Recommended-------------------------------------------------- Learn to Manage Risk Like the Pros - You can't take the risk out of investing – it's just part of the game. But you can take away the fear that leads to so many bad decisions – and lost profits. The Liberty Street League can take that fear out of the equation and help your investments soar. Read more...
"Success is simply a matter of luck. Ask any failure." Earl Wilson Luck seems to have a peculiar attachment to work. I'm sure that you have heard the Dave Thomas quote: "It seems the harder I work, the luckier I get." I would tend to agree with that statement, but I think there are a few other conditions that affect your "luck" -- things like instinct, timing, market conditions, and public opinion, to name a few. I know plenty of folks that have worked their heads and hearts off, but for some reason or another, they just aren't successful in what they accomplish. On the other hand, I have witnessed others who seem to have fallen into a bed of roses -- businesswise or financially. Predictably, most of their friends are totally amazed and can't figure out how or why this person made it. Pure luck? Probably not. More likely, they were in the right business at the right time. Oh, we should all be so "lucky." Call it whatever you like, but I prefer not to rely on luck when it comes to business. I leave that for Las Vegas. I'll admit, I've been "lucky" on many occasions, such as the time I was in London many years ago and was late for a play. I started to step off the curb without looking to my right. I pulled back for a reason I still can't explain. Being in London, where they drive on the "wrong" side of the road, a big bus almost wiped me out. Go figure it! Had I taken that step, I would have been dead within a nanosecond. I would bet that most of us could tell a similar story. What is the correlation between luck and success? Frankly, I think Dave Thomas, who founded the Wendy's chain, had it right. As for my business life, I prefer to do everything in my power to make my own "luck" -- long hours, clear goals, calculated risks, good hires, expert advice, and a reasonable amount of fear have guided me. I've had plenty of incentive too, like putting my name on my product. Nothing makes you try harder than putting your identity on the line. Was it luck that led to the creation of so many well-known products? I think not. Rather, it was creativity and the courage to redevelop already invented products. For example, Coca-Cola started out as a headache medicine. Post-it Notes originated when a 3M inventor created bookmarks for his prayer/song book. Levi jeans -- with rivets instead of buttons -- were made out of leftover tent canvas when miners needed pants. Speaking of leftovers, that's how the Swanson TV dinner was created. It was Thanksgiving 1952 and the Swanson Company had 260 tons of leftover turkeys. The company filled 10 refrigerated boxcars and let the frozen turkeys ride around the country until they figured out what to do with their fowl problem. A salesman developed a three-compartment tray for the frozen turkey and two side dishes because he remembered from his Army days how he hated when his food ran together. Management gobbled up the idea. So did Swanson's customers. Ice cream sodas were invented not so much by luck as by necessity. In 1874, 16 years after the first soda fountain opened, Robert M. Green was mixing his popular drink, consisting of sweet cream, syrup, and carbonated water. When he ran out of sweet cream and there was no way to get more that day, he started substituting vanilla ice cream, hoping no one would notice. Everyone noticed -- and he went from grossing $6 a day to $600. Yo-yos were used as weapons in the ancient Far East. Sixteenth century hunters in the Philippine Islands tied wooden disks together with a long piece of rope or twine. They would sit in trees and fling the weapon at prey. If it missed, they would pull it back quickly and try again. Donald Duncan saw the yo-yo in action in the early 1920s, changed the design, and created a child's toy, my grandson's favorite possession. Even Avon Cosmetics got its start when a door-to-door book salesman named David H. McConnell decided to offer a small sample of perfume to women. Soon the perfume became more popular than the books and McConnell established the California Perfume Company, which changed its name to Avon Products in 1939. Lucky? No. Good business. Taking risks, being creative, and reading and reacting to markets will trump luck every day. You can bet on that. Mackay's Moral: Good luck usually depends on good judgment. [Ed. Note: Harvey Mackay has written five New York Times bestselling books, two of which were named among the top 15 inspirational business books of all time -- Swim With the Sharks Without Being Eaten Alive and Beware the Naked Man Who Offers You His Shirt. His latest book, Use Your Head to Get Your Foot in the Door: Job Search Secrets No One Else Will Tell You, was released Feb. 18. Harvey is a nationally syndicated columnist and has been named one of the top five speakers in the world by Toastmasters International. He is also chairman of the $100 million MackayMitchell Envelope Company, a company he started in 1960. For two free reports featuring some of Harvey's most powerful success and leadership secrets, go here.] -----------------------------------------------------Advertisement----------------------------------------------------- Retire Overseas!
Learn about the world's 6 best places to live or retire. Live well on $30 a day. Own an exotic beachfront getaway for $35,000. Or a romantic pied-a-terre for under $60,000. Enjoy fine restaurant dining for $7 per person. Employ a maid or gardener for $6 a day. Buy comprehensive health insurance for $20 per month. Get the details in your FREE report now.
"I enjoy many of the ETRs that I receive, and today's word of the day (and L.L Bean story) were particularly enjoyable! I plan to work 'pertinacious' into my next executive education seminar." Dr. Joseph W. Harder --------------------------------------------------Highly Recommended -------------------------------------------------- Why Religion as You Know It Doesn't Have the Answers Most religions promise the keys to happiness, fulfillment, and purpose. The solutions are there. But over the years, these useful and life-changing tenets have become weak... distorted... and diluted. They have lost their original power. This leads to frustration for people who simply want answers. But there's good news. Scholar and philosopher Srikumar Rao has translated dozens of the most powerful secrets from ancient traditions... He's made them useful... practical... easy to understand... And easy to apply to YOUR life.
Today's Words That Work: Magnanimity Magnanimity (mag-nuh-NIM-ih-tee) -- from the Latin for "great" + "soul" -- is the quality of being courageously noble in mind and spirit; generous, forgiving, and unselfish. Example (as used by Henry David Thoreau in Walden): "To be a philosopher is not merely to have subtle thoughts... but so to love wisdom as to live according to its dictates, a life of simplicity, independence, magnanimity, and trust."
We want your feedback! Let us know your thoughts on today's issue. Email us at: AskETR@ETRFeedback.com | 
No comments:
Post a Comment