Archives for posts with tag: time

In the book, The Last Lecture, which has inspired millions, Randy Pausch says, “Time must be explicitly managed just like money.”

No truer statement could be said about your business. To be successful, it’s very simple but yet the plan (your activity) must be explicitly managed.

Here’s the formula for success:

  1. Determine how much time you are going to spend in your business on a daily basis.
  2. Determine how many people you commit to contacting about your business each day.
  3. Then… just do it! Make sure that you do it every day!

Your success rate is in direct proportion to the time you spend working the business. Whatever your goal is… whether its 30 minutes a day or 5 hours a day – the important thing is to do it every day.

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here

 


Jerry Scicchitano
(757)-810-0208
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.
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When you want to move a heavy object, you get a lever. The lever multiplies your ability to lift objects greater than your own ability and physical strength would allow.

This principle of leveraging can be applied in 3 areas in your search for success. They are all legal, ethical and moral, but you must be careful or you could infringe on another person’s rights in this area.

These 3 methods of applying leverage are:

  1. Using other people’s money
  2. Using other people’s brains
  3. Using other people’s time

The emphasis is on using but not abusing. You will notice this list does not include “using other people”.

  1. Using Other People’s Money:

This is the most common form of leveraging. Every time you use your credit card, you are using other people’s money. Your home mortgage or auto loan is using other people’s money.

 

You pay for this privilege or opportunity in the form of interest. Interest is nothing more than rent for using other people’s money.

 

  1. 2.     Using Other People’s Brains:

          You cannot be expected to know everything. When you have need for     specific knowledge or know-how, it can sometimes be advantageous to find         an expert, a professional, or someone with knowledge you need. Always be      willing to pay for this expertise. It is worth it. This doesn’t mean you can’t   shop around and compare costs of different experts such as lawyers,     accountants, tax help, web design or whatever. This will also tell you          something about the integrity of the person you are dealing with.

Let’s say you want to learn a craft. You may be able to learn it from books,      but it may be better and faster to take a course from an expert. Some       businesses offer free courses or readily share their expertise, usually in the hope of getting your business. I don’t mind paying a little more in a good hardware store to buy repair materials or tools, because the independent    hardware store manager will give me advice. It’s a fair trade.

Barter is returning in popularity. You may be able to trade a talent or      expertise you have with someone else who has what you need.

  1. 3.     Using Other People’s Time:

This concept is the same as using other people’s brains. It may be less formal such as neighbors helping each other. I used to work on a farm as a teenager. At haying or harvesting time, a group of farmers would get together and help each other. Numbers have a multiplying effect. Just as in synergism, two people working together get more done than two people working separately and generally have more fun doing it.

 

You cannot do everything yourself. Get help when you need it, but always return the favor or you will find someday that no one wants to help you.

Just as the lever can enable you to lift objects many times heavier than you, the use of leverage on money, brains and time can enable you to accomplish things you never could all by yourself.

Here’s To Your $uccess and Vitality,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts

Happy Valentines Day to all my followers.


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

Since you have spent some time with yourself I am sure you learned a lot more about what you do each day.  Now since you have recorded a full week of time in your time diary, let’s review and evaluate how well you spent your time.

By analyzing and categorizing your time into the following groups:

  • Productive time
    • Was it spent on achieving your goals?
    • Was it spent on achieving things not on your wish list, such as household chores, paying bills, etc., either on the job or off the job? How important were these activities?
  • Rest and relaxation
    • How much time was spent on sleep and other restful activities?
  • Exercise and self improvement
  • Idle conversation – not resulting in benefit
  • Necessary functions
    • This includes bathing, dressing and grooming, eating, etc.
  • Travel time
    • Time spent going to work, store, or other places.
      • Entertainment
    • This would include TV, going out, parties, dances, movies, hobbies, etc.
      • Wasted time
    • This would include unwanted interruptions by others, or time wasted by your own indecision.

The real benefit in recording time is to know what activities you spend it on. By using the ANALYSIS OF TIME FORM, summarize your time for the week and total it up.

 

ANALYSIS OF TIME

CATEGORY

Mon.

Tues.

Wed.

Thurs.

Fri.

Sat.

Sun.

TOTAL

PRODUCTIVE   TIME                
Goal Seeking                
Other On Job                
Other Off Job                
                 
                 
REST &   RELAXATION                
Sleep                
Other                
                 
                 
EXERCISE                
                 
                 
SELF   IMPROVEMENT                
                 
                 
IDLE   CONVERSATION                
                 
                 
NECESSARY   FUNCTIONS                
                 
                 
TRAVEL TIME                
                 
                 
ENTERTAINMENT                
                 
                 
WASTED /   OTHER TIME                
                 
                 
                 
                 
                 
                 
                 

Now, analyze it. How much time was spent on achieving your goals for your Part-Time Income Enterprise? This is where you want to maximize your time. This is your priority use of time. Next, review each of the other categories.

Ask yourself, “How can I free up time for the things I really want to do?”

Do you need all that TV time, or has it gotten to be a habit? It is very easy to come home after an exhausting day and plunk down in front of the TV for the entire evening.

Wasted time can be a prime category for freeing up more time for the things you really want to do, like earn that extra income to buy a new car, a new carpet, a new house, or take a dream vacation.

Look at every category. Is it time you want spent this way? After thoroughly analyzing each activity, you are now ready to prepare a time budget.

You can go back and highlight items in the chart. How much of your week is under your control? Block out time for the job, related travel time, sleep time (how much you feel you need), and other nondiscretionary time. How much is left under your control? I bet you are surprised to find more than you thought. These are the groups of time you can plan your activities around.

You need to start organizing your time now, and you will discover the amount of free time you can find will be in direct proportion to how badly you want what you have set for your goal.

To organize your time, make a list of everything you need to do for the day. As each action is finished, mark it off the list. When you know what you must do in order of importance, the actual follow-through will be much simpler.

When you are organizing your time, it may be necessary for you to eliminate some frills and unnecessary activities from your routine. This should not be too hard, if your goal is important.

Plan your free time for the next few days. Write down and organize what you are going to do during your free time.

  • “Turn off the TV,” will probably be the first place to start for most people.
  • Review interests, skills, and specific talents

Come up with some ideas of extra income opportunities that you feel might work for you. Write these down. This will be your wish or dream list. This should be a fun time. Let your imagination take over.

Stop procrastinating and start focusing on getting what you want. Your first priority should be getting things done as quickly as possible and as well as you can.

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
(757)-810-0208
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

Welcome to another Time Diary day. I would like to start this post with a quote from Rasheed Ogunlaru – “When is the perfect time? Who can say, but probably somewhere between haste and delay – and it’s usually most wise to start today.” If you’re like most people filling out their time diary you are a little startled at where your finding your time is being spent. Frankly, I know I was when I first filled mine out. And for a real wakeup call try keeping a food diary not just a casual one but a diary of EVERYHING YOU PUT IN YOUR MOUTH but that’s another story.

Back to Procrastination, we do this without even noticing it sometimes, and the reason why we don’t take notice of it is because what we’re doing to procrastinate feels so much better than the option of actually doing what we need to do. All of us procrastinate from time to time, and one thing I’ve found that works for me is to do something, anything to get the ball rolling. I ask myself “What are the first steps I need to do to get this done?”, and then I force myself to do the first step, and then the second, etc. If there’s something I’ve been procrastinating on, I’ll also get all hard core and force myself to do it first thing in the morning, so I’m not dreading it all day. Some folks call this “doing fear things first”, and I’ve found that it’s also helpful at decreasing stress.

I would like to share an article with you How To Stop Procrasting By Using The “2- Minute Rule”

I’ve been following a simple rule that is helping me crush procrastination and making it easier for me to stick to good habits at the same time. I want to share it with you today so that you can try it out and see how it works in your life. The best part! It’s a simple strategy that couldn’t be easier to use.

Here”s what you need to know… How to Stop Procrastinating With the “2 Minute Rule” By James Clear

“I call this little strategy the “2–Minute Rule” and the goal is to make it easier for you to get started on the things you should be doing.

Here’s the deal…

Most of the tasks that you procrastinate on aren’t actually difficult to do — you have the talent and skills to accomplish them — you just avoid starting them for one reason or another.

The 2–Minute Rule overcomes procrastination and laziness by making it so easy to start taking action that you can’t say no.

There are two parts to the 2–Minute Rule…

  • Part 1 — If it takes less than two minutes, then do it now.

Part I comes from David Allen’s bestselling book, Getting Things Done.

It’s surprising how many things we put off that we could get done in two minutes or less. For example, washing your dishes immediately after your meal, tossing the laundry in the washing machine, taking out the garbage, cleaning up clutter, sending that email, and so on.

If a task takes less than two minutes to complete, then follow the rule and do it right now.

  • Part 2 — When you start a new habit, it should take less than two minutes to do.

Can all of your goals be accomplished in less than two minutes? Obviously not.

But, every goal can be started in 2 minutes or less. And that’s the purpose behind this little rule.

It might sound like this strategy is too basic for your grand life goals, but I beg to differ. It works for any goal because of one simple reason: the physics of real life.

The Physics of Real Life

As Sir Isaac Newton taught us a long time ago, objects at rest tend to stay at rest and objects in motion tend to stay in motion. This is just as true for humans as it is for falling apples.

The 2–Minute Rule works for big goals as well as small goals because of the inertia of life. Once you start doing something, it’s easier to continue doing it. I love the 2–Minute Rule because it embraces the idea that all sorts of good things happen once you get started.

Want to become a better writer? Just write one sentence (2–Minute Rule), and you’ll often find yourself writing for an hour.

Want to eat healthier? Just eat one piece of fruit (2–Minute Rule), and you’ll often find yourself inspired to make a healthy salad as well.

Want to make reading a habit? Just read the first page of a new book (2–Minute Rule), and before you know it, the first three chapters have flown by.

Want to run three times a week? Every Monday, Wednesday, and Friday, just get your running shoes on and get out the door (2–Minute Rule), and you’ll end up putting mileage on your legs instead of popcorn in your stomach.

The most important part of any new habit is getting started — not just the first time, but each time. It’s not about performance; it’s about consistently taking action. In many ways, getting started is more important than succeeding. This is especially true in the beginning because there will be plenty of time to improve your performance later on.

The 2–Minute Rule isn’t about the results you achieve, but rather about the process of actually doing the work. It works really well for people who believe that the system is more important than the goal. The focus is on taking action and letting things flow from there.”

Try It Now

I can’t guarantee whether or not the 2–Minute Rule will work for you. But, I can guarantee that it will never work if you never try it.

The problem with most articles you read, podcasts you listen to, or videos you watch is that you consume the information but never put it into practice.

I want this post to be different. I want you to actually use this information, right now.

What’s something you can do that will take you less than two minutes? Do it right now.

Anyone can spare the next 120 seconds. Use this time to get one thing done.

Keep working on your Time Diary and tune in for tomorrows post where we will be talking about another Time Waster –Thinking about unimportant things.

 Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

As we turn the corner on the New Year and you’re starting to fill out your Time Diary, it’s the natural time to start fresh. To make resolutions for things we will do differently. You will be looking at your Time Diary and analyzing your time at the end of 7 days. In the meantime here is something to think about:

What Is The Biggest Way People Waste Time Without Realizing It?

Here are some that really hit home for me:

  •         Watching TV
  •         Not having a game plan for the day
  •         Procrastination
  •         Thinking about unimportant things
  •         Being busy without really accomplishing anything
  •         Not learning from mistakes
  •         Worrying

Today let’s take a look at Watching TV: I don’t want to start a war here but I would venture to say – Many people waste away countless hours of the day, not to mention Saturday and Sundays, laying in bed, or slouching in their couches watching reruns, or cumulative hours of commercials. Now, I am not saying don’t enjoy your favorite series. But, that is a possible one or two hours a night in addition to maybe an hour for the news in comparison to unregulated time spent scrolling through channels and finally deciding to watch a funny rerun or an old movie. The hours of the day can be better managed and supervised to be extremely productive and more successful in all our endeavors if less television is watched.

On the other hand if you aren’t working on any goals watching television is not a waste of time. Sometimes people just want to relax and be entertained. Television provides that better than most of its alternatives. You can actually learn things from watching television too. Not all of it is mindless trash that you cannot do anything with in your life. The only time it becomes an actual waste is when you get too much of it, or become addicted to watching it all the time and not doing anything else. Like working on your fitness level, sharing family time, looking for a way to earn a little extra income, volunteering and helping others.

When you start to analyze your time after you’ve kept your diary for at least a week you will want to compare your TV time to the time you need to reach your unachieved goals. This is a good motivation exercise. Once you’ve kept your time diary for at least a week, you’ll know how much time television really takes up in your life. Now it’s time to ask yourself how you can use that time more productively. If you’re spending 20 hours a week glued to the tube, think about how much you could accomplish if you redirected that time towards something else! Or things you always complain about but never have time to do. Things like starting your Part-Time Income Enterprise.

You will need to decide what you would like to do for a period of time other than watch TV. This is a critical step because if you do not find something that will keep your interest, you will fall back on your old habit your crutch, the TV.

You want to become disciplined enough to not turn on the TV and use your time much more creatively.

Please keep recording your daily activities in your Time Diary. Are you starting to see any trends in the way you’re spending your time?

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

Each of us has 24 hours a day, that is 1,440 minutes, and broken down even further into 86,400 seconds.

This short Video Uses Jelly Beans To Show You How Much Your Wasting Your Life (Video) http://elitedaily.com/life/motivation/this-video-uses-jelly-beans-show-you-how-much-youre-wasting-your-life-video/ via @EliteDaily

Now that I have your ATTENTION!

The first step is to gain an understanding of where your time goes.

Before you can organize your time, you must take an inventory of your time. By using the TIME DIARY (make a copy for each day of the week), record how you spend your time for a week, including Saturday and Sunday. Record both time on the job, if you work, and your personal time. The form provides for a full twenty-four hours. It starts at 12:00 noon (you record sleep time too). Maintain this time diary throughout the day. Make it as accurate and detailed as possible. Be specific on what you did, so you can evaluate how well you spent your time. This is very important, so stick with it.

You probably are saying one week if I had all that extra time to record what I am doing I could be doing what I want to do. Hey do me and yourself a favor suck it up and please take the time to record what you do. You can thank me later.

 

                                                                    TIME DIARY

Date   ____________________ Day of Week ___________________________

TIME

WHAT YOU DID

CATEGORY

12:00   Noon    

12:15 PM

   

12:30 PM

   

12:45 PM

   

1:00 PM

   

1:15 PM

   

1:30 PM

   

1:45 PM

   

2:00 PM

   

2:15 PM

   

2:30 PM

   

2:45 PM

   

3:00 PM

   

3:15 PM

   

3:30 PM

   

3:45 PM

   

4:00 PM

   

4:15 PM

   

4:30 PM

   

4:45 PM

   

5:00 PM

   

5:15 PM

   

5:30 PM

   

5:45 PM

   

6:00 PM

   

6:15 PM

   

6:30 PM

   

6:45 PM

   

7:00 PM

   

7:15 PM

   

7:30 PM

   

7:45 PM

   

8:00 PM

   

8:15 PM

   

8:30 PM

   

8:45 PM

   

9:00 PM

   

9:15 PM

   

9:30 PM

   

9:45 PM

   

10:00 PM

   

10:15 PM

   

10:30 PM

   

10:45 PM

   

11:00 PM

   

11:15 PM

   

11:30 PM

   

11:45 PM

   

 

 

                                                                         TIME DIARY

Date   ____________________ Day of Week ___________________________

TIME

WHAT YOU DID

CATEGORY

12:00   Midnight    

12:15 AM

   

12:30 AM

   

12:45 AM

   

1:00 AM

   

1:15 AM

   

1:30 AM

   

1:45 AM

   

2:00 AM

   

2:15 AM

   

2:30 AM

   

2:45 AM

   

3:00 AM

   

3:15 AM

   

3:30 AM

   

3:45 AM

   

4:00 AM

   

4:15 AM

   

4:30 AM

   

4:45 AM

   

5:00 AM

   

5:15 AM

   

5:30 AM

   

5:45 AM

   

6:00 AM

   

6:15 AM

   

6:30 AM

   

6:45 AM

   

7:00 AM

   

7:15 AM

   

7:30 AM

   

7:45 AM

   

8:00 AM

   

8:15 AM

   

8:30 AM

   

8:45 AM

   

9:00 AM

   

9:15 AM

   

9:30 AM

   

9:45 AM

   

10:00 AM

   

10:15 AM

   

10:30 AM

   

10:45 AM

   

11:00 AM

   

11:15 AM

   

11:30 AM

   

11:45 AM

   

 

Falling down on this goal to complete your Time Diary can hit you where it hurts: Your Wallet. Set this one well-defined goal and create a plan of attack. People give up on vague goals. Narrow recording your time for the first hour, second hour etc.

Monitor your progress as you go stay focused and record your time. This is not to much to ask for something that will change your life.

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

“This time, like all times, Is a very good one, if we but know what to do with it.” Ralph Waldo Emerson
What to do with our time? This alone can make the difference between great success or mediocre achievement.
Everyone has the same amount of time—twenty-four hours a day. Have you ever noticed how some people can get so many things done, while others never seem to have enough time? You have enough time. It cannot be increased, nor will you lose any of it.

CHARACTERISTICS OF TIME – Time has some unusual characteristics that make it different from other resources.
1. Time exists only in the present instant.
2. Time is irreplaceable. (Once past, it is gone forever)
3. Time is effectively managed in the future. Plans must be made today for the effective us of time in the future.
4. Time tends to belong to everyone else.
Your time is demanded by your boss, your wife, your children, friends and neighbors, relatives, or even strangers. Without proper planning very little will be left for you.
Given these unique properties, it is very important that we use the time we have effectively and observe some rather well-established principles of time management.

These principles of time management are:
1. Know how you are spending your time.
2. Analyze your time and determine those activities that contribute to your goals and those that are not essential, or those that waste time and could be eliminated.
3. Plan your time for maximum effectiveness in getting those things done that have the highest priority.

Time management is the foundation for achieving what you want out of life.

DON’T WASTE IT!!!
In the next post we will find out where are time goes (Know Thy Time)

Here’s To Your Success,
Until next time!
Prosperously yours,
Jerry
P.S. Remember The Buck $tarts Here

Hello dear readers in the last post you were asked to take a good look at all your capabilities and decide what you do best and enjoy doing most. When evaluating your abilities, don’t eliminate anything as too minor or insignificant. List everything you feel you can do with a fair amount of skill.

You got to this point because you did what was requested in the previous five posts. If you missed these posts here are their titles:

  • Finding what you want in life & in a part-time enterprise
  • I feel as if I’m meant to do something I just don’t know what it is
  • Everyone has a passion – discover yours
  • Do you have the assets to pursue your passion
  • Personal assets you have

 Now look at your list of everything you feel you can do with a fair amount of skill and decide which fits the following considerations best:

  1. 1.     Is there a demand for this? This you can determine largely from observation.

Many people are so caught up in their careers; they don’t have enough time to do the regular things that need to be done around the house. They are willing to pay others to do it for them. Some examples are cutting grass, cooking, washing cars, and running errands along with taking the kids to ball games, etc.

Many people getting up in age can’t do the above things, along with other simple things that are easy for most people, like washing windows, dusting, washing the dishes, driving to the grocery store or library, watering the flowers, and sending out birthday and holiday cards. Just use your imagination about the kinds of things you could do that other people can’t do anymore, and you will be on your way to earning a large extra income. The best thing is, once you start these services, they will need and want you to do more and more.

(Remember to be good to your customers and give them what you have promised) Happy Customers are your best advertisement, and their word-of-mouth is free advertisement.

2.     Inquire among people you know and can become acquainted with through businesses or organizations about the marketability of your service or product. Wherever possible, try it out on a small scale and see for yourself how it sells. As long as you are starting this as a second income, you can afford to try it out cautiously in the beginning. You should do this as thoroughly as possible before you invest a great deal of your time or money.

3.     What is the income potential from this? You will need to figure as nearly as possible what your cost per sale will be for your product or service. Take the cost of the material you must use; then compute the time it will take you to complete it. Charge double that amount for your profit. When you decide how much time you can give to the operation, you will have a fair estimate of its future financial potential.

4.     How long will it take to reach this potential? This should not be too difficult to estimate when you have worked out the details of step 2. Once you know how much time you can give to the operation and what your profit is for that time, it should be a matter of simple addition to determine when you can hope to reach your goals.

5.     How can I maintain myself while reaching that potential? This will probably depend largely on how much work you can handle—after hours and for how long. You may want to take a look, also, at the possibility of turning this into a full-time operation somewhere along the line before it has reached its top potential.

All these considerations must be handled by each prospective business owner in his own way, but they should be carefully answered before the actual Part-Time Enterprise is undertaken.

Please spend some time on this step because it will answer several questions you may have about perusing you Part-Time Income Enterprise.

TIME is what we will be talking about in the next post. So please take some time to think about and answer the above questions.

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

Were you surprised after looking at the results of your Self Evaluation Form?

Here is my list of what you have, and I don’t even know who you are.

1   Untapped Potential:

Have you tapped your total potential? I doubt it. I have never met a person yet who isn’t capable of achieving more than they think they can achieve.

2  Time:

Did you write this down? It’s one of your most important resources. Everyone has it, twenty-four hours per day. How you use this time can make the difference between mediocre and spectacular income.

3       Ability to Communicate:

I know you have the basic tools of communication­

  • You can speak.
  • You can write.
  • You can read.
  • But can you listen? This is the most important one.

4       Freedom of Choice:

I assume you have the freedom of choice. The only constant in life is change. This is where you must look at your priorities in life and make that decision to earn that extra income.

You now should have an idea of what you have to work with. This will serve as a basis for your search for an extra-income venture.

You may be asking what can I do?

You will want to take a good look at all your capabilities and decide what you do best and enjoy doing most. When evaluating your abilities, don’t eliminate anything as too minor or insignificant. List everything you feel you can do with a fair amount of skill,

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
(757)-810-0208
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.

Traditionally if your idea is for a product you would start to build a prototype, start work on getting a patent, develop your business plan, trying to secure investors, etc. This all takes time and energy. Plus it may give another person with the same idea or a similar idea plenty of time to launch their product.

You can put your idea on the fast track to the store shelves by Licensing it to established companies that have already have relationships with stores and market places for shelf space. Plus they know how to bring ideas to the market place. This knowledge lessons your risk.

This method will not work for you if you are set and determined to go the traditionally way and want to start your own business. There’s nothing wrong with this if you feel you want to spend all the time, energy and money it will take you to launch and run your company. Time is the important factor here.

For myself I like to come up with the idea develop it and then watch the royalty checks come in. By doing this I am able to start on the next idea.

  • Most people develop a product without identifying the market
  • A better way is to create an idea for an existing market

Licensing is the easiest and fastest path to commercialization and profit: you get paid while someone else takes your invention, turns it into a product and manages the day to day grind of making and selling it.

When you give a company the right to make and sell your invention in return for payment, you are granting a license – you are the “licensor” the company is the “licensee”. The payment can be an ongoing percentage of sales, a “royalty”, or it can be a one-time payment, a “buyout”.

The downsides to licensing are lack of control and a smaller share of profits. The upsides are less work, less investment and less risk. Many inventors harbour the fantasy that someone will pay for an undeveloped idea. While fantasies sometimes come true (someone does win the lottery), you should keep your feet planted firmly in reality.

The steps to licensing an invention are as follows:

  1. Identify & research target companies
  2.  Approach prime targets
  3.  Confidentiality agreement
  4.  Prepare for negotiation
  5.  Initial presentation
  6.  Negotiate
  7.  Marriage

If you are an idea person you need to read the book ONE SIMPLE IDEA by Stephen Key- McGraw Hill – visit his website www.inventright.com  if you contact Stephen please let him know you read about him on my blog.

Trust your gut!

The day you stop listening to your inner voice, your dream dies.

The Christmas holiday is here for me and The Buck $tarts Here Blog I will not be posting any blogs for the holiday until a few days after Christmas..

It occurs to me that I’m lucky to be able to spend time with family and friends. After all, almost one in four Americans don’t get any paid vacation time at all. Around a third don’t get any paid sick days. On top of that, Americans are working more hours — family work hours are up more than 10% since the 1970s. And even though productivity and corporate profits are high, household income is stagnant or declining for everyone but the top 1%. If you haven’t read the book Part-Time Income Enterprise – Your Road Map to Make Full-Time Income – With Part-Time Efforts. Take some time this holiday season to explore your future.

I strive to achieve balance from the very start. I build free time into my work schedule so that balance is part of my enterprise. I respect my leisure time as much as my work time, never allowing too much of one to interfere with the other. Traditional entrepreneurs always placed work ahead of leisure and showed no respect for their own personal freedom. Please learn to cherish your freedom as much as your work.

Merry Christmas & Happy New Year

Here’s To Your Success,

Until next time!

Prosperously yours,

Jerry

P.S. Remember The Buck $tarts Here


Jerry Scicchitano
Jerry Scicchitano is known for turning ideas into action. His concept paper, “The Entrepreneurial Mall,” was presented at the 20th Annual Entrepreneurship Education Forum, sponsored by the Kauffman Center for Entrepreneurial Leadership. Jerry is the author of Part Time Income Enterprise (Morgan James Publishing), and founding sponsor of the M.H.S Entrepreneur and Inventors Club. Jerry also sits on the board for two non-profits: The Every Child Deserves a Chance Foundation and Jesus – The Divine Mercy Foundation.