00:00:02entrepreneur mastery today I want to
00:00:05talk about how to choose the right
00:00:06business idea before getting started
00:00:09though I wanted to have a quick word
00:00:11about failure most entrepreneurs fail if
00:00:14you look at the stats something like
00:00:16eighty percent of new entrepreneurs fail
00:00:18within the first couple years of
00:00:19starting their business and that’s a
00:00:21huge number it doesn’t mean you’re bad
00:00:23entrepreneur chances are it’s a bad idea
00:00:26and so with this presentation today I
00:00:28want to walk you through the steps that
00:00:29you need to take to pick the winning
00:00:31business idea if you failed in the past
00:00:33don’t let that stop you some of the
00:00:36world’s most famous entrepreneurs failed
00:00:38when they first got started and it was
00:00:39until they hit on their winning business
00:00:41idea that they got to success so bear
00:00:44with me we’re gonna have some fun today
00:00:46here’s a classic example Milton Hershey
00:00:49so dedicated entrepreneur was working
00:00:5114-hour days he started off in the
00:00:54caramel business so he started in
00:00:56Philadelphia his hometown started his
00:00:58business would make caramels overnight
00:01:00and then sell them during the day the
00:01:03business did okay but then he couldn’t
00:01:05make his payments it ultimately failed
00:01:07so moved to Denver started the same
00:01:09business up again same story failed he
00:01:12moved to Chicago same story failed who
00:01:14the New Orleans same story and then he
00:01:16moved in New York and finally after
00:01:18giving it a try in New York one day a
00:01:21bunch of kids stole all his inventory he
00:01:24was out of money he failed again so here
00:01:26was a dedicated entrepreneur you know he
00:01:28was really working at it wasn’t for lack
00:01:30of effort tried in five different cities
00:01:32the same concept and it didn’t work and
00:01:36then he thought to himself you know
00:01:37maybe caramels that’s not a winning
00:01:39business idea maybe there’s something
00:01:41better that I should be going after and
00:01:42that’s when he discovered chocolate and
00:01:44the rest is history harvest in Hershey
00:01:47from her she’s chocolates so you know he
00:01:49would had the whole systems in place he
00:01:51just had the wrong business idea from
00:01:52the start and it was until he switched
00:01:54his course to pick a winning business
00:01:56idea that I was able to achieve the
00:01:58success that he had so let’s talk about
00:02:01these four steps to success
00:02:03and hopefully this will help guide you
00:02:04to create the venture that will make you
00:02:07an all star entrepreneur
00:02:16you
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