A friend of mine, Mike Michalowicz – author of The Toilet Paper Entrepreneur book and blog of the same name (www.toiletpaperentrepreneur.com), recently did a post on his blog and I liked it enough that I asked his permission to repost it here. So, without further ado, here is his post in total about Famous Failures.

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To succeed as an entrepreneur there is one thing you are going to have to master… never quit, especially when you fail. It’s the great irony of success… it requires countless failures. Don’t believe me? Watch this video, and check out the list of “famous failures” I have prepared for you. If you work hard enough, and if you never stop… perhaps you will be the next famous failure on this list:

Famous Failure 1: Hillary Clinton failed the D.C. bar exam in the 1970’s yet went on to contend for the President of the United States.

Famous Failure 2: Isaac Newton was the greatest mind of his generation, often labeled a genius. Yet he failed throughout grade school, to the utter frustration of his teachers.

Famous Failure 3: JK Rowling lived on welfare for years. A failing author, she went on to write the Harry Potter series, and today has an estimated worth over $1B. Among many recent notable successes, she performed Harvard’s commencement speech.

Famous Failure 4: Ludwig van Beethoven is one of the most epic composers of classical music. Yet at the early stages of his career, his music instructor labeled him “as a composer, he is hopeless”. Of course, we all know that he also lost his hearing, yet went on to make the world’s most famous music!

Famous Failure 5: Winston Churchill failed the 6th grade and now he is regarded as one of the most important leaders in British and world history.

Famous Failure 6: Michael Jordon is, well, Michael Jordon. He still is one of the most recognized name in sports, even though he retired from basketball years ago. Yet as a high school player, he was cut from his team because of his “lack of skill”.

Famous Failure 7: Walter Disney is the entrepreneur behind the Disney conglomerate, a company generating over $30B annually. Starting his first cartoon production out of his garage he quickly went bankrupt. And ultimately was rejected by over 300 banks when he went to seek funding for his theme park.

Famous Failure 8: Henry Ford’s first two automobile companies failed.

The Next Famous Failure: Is it going to be you? Are you going to give up at your next failure… or are you going to be inspired forward?

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Moral of the story, keep going. If you do what others won’t, you will receive the rewards that others will not. Thanks for the post Mike.

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Tags: failure, henry ford, isaac newton, jk rowling, ludwig van beethoven, michael jordon, mike michalowicz, toilet paper entrepreneur, walter disney, winston churchhill

On May 21st, 2009, NorthStar Global, Inc. (one of our vested companies) will be featured in the post “How To Scale A Business” on The Toilet Paper Entrepreneur. I encourage all readership to visit The Toilet Paper Entrepreneur website and read the post. It may contain just the tip you are looking for.

Tags: business, memo, toilet paper entrepreneur

I just finished listening to the audio book entitled The Toilet Paper Entrepreneur which was adapted from a text, of the same name. The author of the book and narrator of the audio is a man by the name of Mike Michalowicz. The book is filled with useful information, witty banter, and some jokes. It is written and read in a style that many of today’s information age entrepreneurs will appreciate.

From The Toilet Paper Entrepreneur website about the author:

Mike Michalowicz started his first business at the age of 24, moving his young family to the only safe place he could afford – a retirement village. With limited resources and no experience, he systematically bootstrapped a multi-million dollar technology business, sleeping in conference rooms to avoid hotel costs. After selling his first company, Mike launched a new business the very next day, and in less than three years, sold it to a Fortune 500. With his newest multi-million dollar venture, Obsidian Launch, he fosters startup businesses with his “get rich right” approach.

A graduate of Inc. & MIT’s “Birthing of Giants” Entrepreneurial Program, Mike has received multiple entrepreneurship awards, including the SBA’s Young Entrepreneur of the Year. He is a recurring guest on CNBC’s The Big Idea with Donny Deutsch, ABC News, and other television programs. He has been featured on National Public Radio (NPR), and in the New York Times, Smart CEO Magazine, and other publications.

Mike is a frequent guest lecturer for entrepreneurial groups and professional business groups throughout the world. Mike is also a reoccurring guest lecturer for entrepreneurial programs at Babson, Boston College, Columbia, Harvard, Penn State, Princeton and other colleges throughout the country.

This is a must read for all of you would be or want to be entrepreneurs. If Mike’s call to action, defining and breaking down your limiting beliefs, and enthusiastic, no BS attitude does not get you off of your rear and into gear, then it is time to face reality – you are not entrepreneur material.

This book is not just for beginning entrepreneurs either. I have started many businesses and have been an entrepreneur for most of my life and Mike taught me something new, adjusted some of my perceptions, and reinforced some of the information that I had learned in the past.

If you are a voracious learner as I am, you will recognize some of the principles that Mike discusses. I have made the observation that many of today’s successful entrepreneurs embody and practice many of the same behaviors and habits. Never dismiss the information as “I’ve heard this before” or “that doesn’t really matter.” Are you financially free for the rest of your life? If your answer is “yes” then I would like to congratulate you and please send me an email with your story. If your answer is “no” then it is time to pay attention and listen to the message instead of simply hearing the words. If you are not where you want to be in life, it is simply because there is something that you do not know.

If you are thinking about starting your own business, buying this book is a no brainer. However, I still recommend it to all entrepreneurs whether they are new to the game or are pros that have mastered the game. Continued education keeps the mind sharp and you are never too old or too experienced to learn something new.

After you have read or listened to the book, subscribe to his blog and continue your education weekly with fresh information and engaging commentary from other entrepreneurs around the world.

Tags: mike michalowicz, toilet paper entrepreneur

Customer service is a vital role to all businesses. Typically, the better your company performs excellent customer service the more revenue you earn. Our friends over at The Toilet Paper Entrepreneur have put together a list of 60 helpful customer service tips. No one expects you to learn them all in one day. So take it easy and start with the first one on the list. Practice the first one all day. Then the second on the next day, etc. Repetition and action will make these items second nature. Read the list and get started.

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Tags: customer service, toilet paper entrepreneur

I have written a few times about The Toilet Paper Entrepreneur written by Mike Michalowicz. I was contacted by his Director of PR, Scott Bradley. And Mike is offering signed copies of his book if you use the promo code SIGNIT. This is phenominal due to the fact that the books are selling out and Mike is taking the time to personally sign these copies. So if you haven’t picked up a copy, now is your chance to do so and remember to use SIGNIT as the promo code to get your signed copy (get your copy here).

Tags: mike michalowicz, scott bradley, toilet paper entrepreneur