The Must Factor Mindset
The appears to be something separating the 92 to 95% of people working online from
the 5 to 7% who are actually making money online. And no matter how many times you
follow the instruction, go to 100's of webinars, one on one trainings, there still
is a drastic separation that is a fact and not some chance that is caused by not
doing the work.
With this in sight, do you ever wonder why this happens to hard working people like
you and me. And the separation is growing drastically as more people are following
us into the same programs and having the same results.
But before I continue giving the actual reason for this, let's look at a few facts
that we all need to know.
These stats come from Small Business Trends
I am posting some of the stats now and if you want to see more, go to the link.
Each year, thousands of ambitious entrepreneurs start new businesses.
....These entrepreneurs feel bright and full of hope. And plenty of small business
statistics show that by the end of four years more than half of them will be gone.
Small business failure rate aside, many small businesses make it past that critical
period and thrive. How many make it and what industries fare best? We’ve collected
these startup statistics for small businesses from a variety of sources to answer
GENERAL STARTUP STATISTICS
69 percent of U.S. entrepreneurs start their businesses at home.
According to the National Association of Small Business’s 2017 Economic Report, the
majority of small businesses surveyed are LLCs (35 percent) followed by S-corporations
(33 percent), corporations (19 percent), sole proprietorships (12 percent), and
partnerships (2 percent).
51 percent of people asked, “What’s the best way to learn more about entrepreneurship?”
responded with “Start a company”.
SMALL BUSINESS OWNER STATISTICS
Who’s starting small businesses today? Here’s a look at small business owners:
73 percent identify as male; and
25 percent identify as female.
50-59 years old: 35 percent;
40-49 years old: 25 percent;
60-69 years old: 18 percent;
30-39 years old: 14 percent;
18-29 years old: 4 percent; and
70+ years old: 4 percent.
High School / GED: 33 percent;
Associates Degree: 18 percent;
Bachelor’s Degree: 29 percent;
Master’s Degree: 16 percent; and
Doctorate: 4 percent.
Reason for starting business:
Ready to be his/her own boss: 26 percent;
Wanted to pursue his/her passion: 23 percent;
The opportunity presented itself: 19 percent;
Dissatisfied with corporate America: 12 percent;
Laid off or outsourced: 6 percent;
Not ready to retire: 6 percent;
Other: 5 percent;
Life event such as divorce, death, etc.: 3 percent.
White/Caucasian – 71 percent;
Hispanic/Latino – 6 percent;
Black/African American – 7 percent;
Asian/Pacific Islander – 11 percent;
Other – 5 percent.
82 percent of successful business owners did not doubt they had the right qualifications
and proper experience to run a company.
For more information go to this link: Small Business Startup Trends
From the info provided we clearly see another dynamic problem for us all. That problem
being the shear number of online businesses starting daily, weekly, and even monthly
creates a clear and present competition for the online audience to choose from.
And this continual growth empowers the separation gap of businesses that make
it and those that don't. But there is one more factor which might be the most
important factor for all online businesses and off-line businesses.
That factor is what I call the "Must Factor". What is the Must Factor?
The Must Factor is the key component to the success of any business.
The Must Factor is the power flow that all businesses must have.
The Must Factor is a built-in growth response that keeps the business in the playing
The Must Factor is the wisdom of experience that keeps businesses from making the same
mistakes over and over.
The Must Factor is the bottom line, the core foundation, that is more than just a brick
and mortar, more than all the space in cyber space.
The Must Factor is what determines success and failure and how we individually define
and understand success verses failure.
The Must Factor is YOU and ME.
When any business begins it starts with the same beginnings.
1- An idea or a concept- the Product.
2- The people, our audience or customers as we call them.
3- The vehicle to reach these customers or audience.
The Must Factor in #1
Above all, you and me, individually, must believe in our product or service.
We must know it from head to foot. We must see it from beginning to end.
We must know it's value and it's importance.
We must be able to educate and communicate the value of our business.
We must stand alone when everything else fails, when everyone has left us, when
no money is being made, and even when and if it comes to an end.
You and I are the Must Factors.
The Must Factor in #2
We must understand and know where our product or service comes from.
Did it come from a lack of it.
Did it come from seeing an addition to what is already there.
Did it come from our many conversations in life all around us and we realize how
our product can make life better.
No matter where it comes from when you understand your product and service you
already have a foothold on the customers who need what you have and how it
This understanding comes from experience that researching key words cannot compete.
Don't get me wrong, researching key words is always a help, but if you know and
understand your product, you already have a hold on the type of customers need you
and your product.
One last thought on this: Think about it.
From your life's experiences your creation product or services has become material
due to your life's environment. If you use that same environment you already have
customers lined up and waiting, looking and needing just what we have to offer.
The Must in #3
Once we believe in our product or service, the next logical step is acquiring a Vehicle,
(Mode) for reaching our customers. This vehicle has all the other tools needed to be
successful and reach as many customers as possible.
The vehicle is the system that you will use to get your message out, communicate with
customers, and deliver the product or service to your customers.
And because there are so many different systems with different variables in them,
different tools and processes, that it would take hours just to talk about a few.
So I will talk about a few key points that I feel every vehicle must have and
how the vehicle must align itself with us individually and collectively.
1st- I believe a system with 3 to 5 key tools is enough to get started and then when
necessary, we scale up or down.
As always your product or service should get top billing over everything else.
Your initial entrance into cyber space should high-lite your product or service
clearly. This is usually the very first page about your product or service
shown on your website if you have one, sometimes you don't even need a website.
This initial image must be very graphic showing what you have to grab the
attention of all who see it causing them to want to see more.
***There is far more important information about the website but I am only
pointing out the very key things that the page must do.
2nd- I believe the system must have a way for customers to leave their information
so they can get more info about the products. This usually consist of squeeze
pages, optin form, email address, or phone number, any way for the customer
to make you aware that they want more info. And this form or squeeze page must
have clear directions on what to do next. Directions like sign up here, get more
information here, let me in, send me my free product, and etc. Anything that gets
the customer to leave their contact info with you. Hopefully your system also has
an auto-responder with it so the customer can begin receiving information about
your product or service on auto-pilot. This alone will save you massive time and
put your service or product in front of the customer daily, because the more the
customer sees your product or service, the more familiar they become with you, and
after a few automated messages they might buy from you or at least join your list,
so you can continue to send them offers.
3rd- Once you have these tools in place it never hurts to share some personal information
about yourself. Not a book of all your exploits but pin pointed info as to how you
came up with the idea for your product or service, how it is helping you, and most
important, how it will help your customer.
Please always remember, your customer is looking for the solution to a problem they have,
or a problem they don't realize they have, and a solid solution to those problems.
Tying all this together and you will find yourself right back to the Must Factor Mindset.
Everything in your business builds form you.
Never let anyone define Your Must Factor Mindset.
Never let anyone define Your Success and Failure
Never let anyone tare down Your Belief in your business. ( It's ok for critical
thinking, because others may see something you have missed that could help you)
Never let anyone destroy your Must Factor Mindset
Because they have no idea of what it took to get to where you are.
Your business is about you and why people should use your business.
And please don't worry if you appear to think differently from everyone
else. You can't help it.
You are an ENTREPRENEUR . We are designed to think different.
I'm Michgael Harris, Entrepreneur
You can reach me at: