Adrian Nantchev's Blog, page 6

What is the law of attraction? - 75/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.It is a state of mind that enables you to achieve what you want, based on increased awareness of the ways to attract what it is you want in your life.The law of attraction seeks to open up and activate a part of your brain called the reticular activating system (RAS), so you can then begin to be aware of ways to achieve what you desire.An example of this is with cars. People always talk about how when they first see a yellow car, they then begin to always see a yellow car. Nothing has changed, apart from their ability to be aware of and notice the yellow cars.I experience something similar to this, but I use to constantly see nice expensive cars on the road- mainly Porsches. By seeing them all the time, I am attracting them into my life subconsciously.Because you now activate your RAS you begin to see and think up ways and find resources in which you can achieve what it is you desire.Socrates, the classical Greek philosopher once said "I think, therefore I am". What you think about and what you imagine, you can attract into your life through awareness, faith and action.Question of the day: How are you using the law of attraction?

What if you're too scared to expand your comfort zone? - 74/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.This is one of those things that we were not taught in school, yet it will affect the rest of our lives...As mentioned earlier with the story of the mentor, the beach and the water: you have to desire success more than you fear anything else.For a while I thought that I did not desire success and I would not know what to spend the money on. This is when I realised that I did not desire money, success or recognition as much as I was fearing the consequence, as I was going through a hard time in my life.Unless your desire to succeed, the desire for success, achievement and money is as great as your fear of failure, then you will never succeed and your situation may never change. If you don't want something badly enough, you'll never pursue it, and you have got to want success as much as you want air.Question of the day: Are you expanding your comfort zone?

[Comfort Zone] What happens if I don't expand it? - 73/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.You'll be stuck and you will have to watch life, and other people, pass you by. If you dare not step or act, then people will overtake you in their progress of life and one day you'll regret not being more adventurous. You'll be stuck in a rut, one that you never dared to escape from it.You will not live the life you want to, because life is too short and precious to live it by someone else's standards and rules.A lot of people live their lives of quiet desperation- seeing others doing amazing and cool things and wanting to do the same or do what they love- but never daring to. They are paralyzed by fear, doubt and miscalculations.Often you need to jump out of the plane and build the parachute on the way down. Figuratively, not literally.Question of the day: How are you expanding your comfort zone?

[Comfort Zone] How can I expand it? - 72/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.It is a personal journey, and no one can expand your comfort zone for you.Some of the ways I expanded mine was that I read successful peoples' biographies, interviews and life journeys. Reading and learning how people, whom today are successful, used to face different challenges and obstacles, yet the pulled through. Find a mentor and work for him for free, remember to ask him the magic phrase: "how can I work for you in order to learn from you?"Start small in business, expecting to make mistakes. When you start small you are taking baby steps into business and dipping your feet into deeper water. Do not just dive straight business, as I more or less did, but take it slow and steady.Reading and learning different business strategies and tactics may help too. The first book I ever read on business was Tim Ferriss' 4 Hour Work Week, which inspired me to take action. Every book, blog and video has a golden nugget in it that can change your fortune, it is down to you to find it and apply it; keep learning.Question of the day: Why and how are you expanding your comfort zone?

[Comfort zone] Why should I expand it? - 71/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.It is important to expand it so you can become more tenacious, as there are 2 main requirements: comfort zone and knowledge.I believe it is also the same with the question whether entrepreneurs born or made. Two people can have the same upbringing, yet one person can have a bigger comfort zone and take his skills elsewhere and work for himself, whilst the other may not dare.If you never expand your comfort zone, you can never live your life to the fullest.By expanding your comfort zone you can achieve in 1 year what some people will achieve in 2, 10, 30 or their entire life. And this is very important and a powerful way to get ahead in life.If you do not expand your comfort zone you will, one day, live a life of regret. You will wake up one day far into the future and wish that you had dared to do what you love and become the person you wanted to be. Regret is one of the worst things in life and often we have regret from inaction, rather than action. Regret often stems from not taking action, which means that if only you had done that thing you wanted to do years ago, or gone to that place or met that person- all you had to do was stretch out your hand and make it so- but no, and now you have to live with your decision of not to taking action.Question of the day: How tenacious are you? How are you becoming more tenacious?

What is your comfort zone and why is it important? - 70/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.Your comfort zone is a mental boundary which inhibits your actions and abilities. Your comfort zone limits your abilities and is the edge in which you dare to act.This is why success is more about your mental approach because 2 people can have the same skill, talent and everything else, and yet one can have a bigger comfort zone, thus can dare to do more with his abilities.Recently I realized that I expand mine 1-3 times a day, which means that on a rolling 365 day basis, I'm bound to be a completely different person this next year.Question of the day: How big is your comfort zone? How are you expanding it?

What are the most important things I need to know? - 69/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.There are two main tools to master in entrepreneurship:Knowledge.Comfort zone.As mentioned earlier: the knowledge is your tools that enable you to succeed and your comfort zone enables you to act.The things I have mentioned throughout this book: nonfarm payroll, etc; are things you don't need a degree (it does help, but is it not necessary), just enough to understand the basics, and as you do you then know more than 99% of the population. Do you know what fractional reserve lending is? Or subordinated debentures? Or what 'being gazumped' means? Most people don't as it is jargon to them.As a side note, when I first started my entrepreneurial journey I put "finances and economics" in my CV (resume) as my hobbies- subsequently I was belittled for doing so. But you don't need a degree, because all of the topics discussed at university can be learnt online for free in places like Coursera.Question of the day: what do you need to work on? Knowledge or comfort zone?

How much do I have to know? - 68/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.Anything and everything. There is no limit to how much we, as humans, can learn and develop.I spent around 2 weeks in November learning about inbound marketing and I'm going to have to spend around 2-4 weeks in 2017 learning about hemp for my upcoming venture.When I was learning about inbound marketing, I read around 100 blogs, a dozen free pdf books and a few dozen videos. All in the attempt to understand it and how to apply it in my businesses. By learning this knowledge I'm saving myself dozens of hours, if not days and months, of trial and error. What is called the convergence rate- where it talks about how X can catch up to Y because Y has already established the path, technology and practices, all X has got to do is listen to Y and apply its teachings. This is how, in part, China managed to from a weak economy in the 1970s to a world class economy by 2000. From the mid 1900's till 2000, the USA was leading the way in technology and innovation, they were the trailblazers and all China had to do from the 1970s till 2000 was to copy and paste the USA 's lessons. They got the answers handed to them when the USA had to search for them.Imagine an ice breaker ship taking 6 months to clear out a 1 mile path of ice. Once the ice has been broken, all other ships can make that 1 mile distance in a few days. Once the path has been illuminated, all you have to do is walk the same path.One habit I have started recently is to take notes in a physical journal when I am researching, reading and writing, as well as to finish a book, video or blog when I start it. This way discipline will see me through in order to finish the content and learn as much as I can.

How many hours should I spend learning? - 67/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.I was told that when you want to be an expert in something you need to have spent at least 10,000 hours in the topic and field, but I am not so sure about this anymore. 10,000 Hours is around 14 months and I somewhat doubt whether you really need to spend that many hours in order to be an expert.The problem with the 10,000 hours idea is that it assumes you'll be doing the same things over and over again, not learning from your mistakes and that you'll be on your own- where as if you were with a mentor, then it would be significantly less than 10,000 hours.The earlier we start on a subject, the better we can be when we are grown up and the sooner we can be a professional at it.It could be correctly describe as "10,000 Focused Hours", because that is what it'll take to become a master and to learn something thoroughly. It is also worthwhile noting that in it may not always take 10,000 hours, depending on the size of the field in which you want to specialize. It could take anything from 728-16,120 hours.Either way we put it: you and I need to dedicate a lot of time and energy learning about something in order to be an expert on it. Ideally you want to devote as much time as you can and devote it to the more important things first.Remain competitive and keep learning, then you'll always be at the top of your game. I make it a habit to read 1 book a week.Question of the day: How are you learning?

Why should I keep learning? - 66/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.It is rather simple: you don't know what you don't know.You are one skill away from changing your income or revolutionizing your life- and you don't know what that one skill could be.I did an IQ test recently, the last time I did one was in 2011 and I scored around 85, which I was rather disappointed about back then. This time I got a low of 122 and a high of 133, which I think is pretty amazing which puts me, as far as I can tell, in the top 2-4% of the population. All of that in 5 years! Admittedly I did not seek to improve my IQ skills over that time period but they improved over time as I began to learn, read and write. I was watching a video and they happened to mention the IQ so I thought I'd do one. I recommend you do an IQ test yourself, to see how smart you are.People talk about not judging a book by its cover, but how you present yourself to the world affects how people see you and their view of you. If you dress smart, relaxed and the like, then people will see that in you and expect more from you. If you dress scruffy, then people are going to treat you are you treat yourself. If you look like no one takes care of you, then people will not care for you either.Question of the day: what are you learning about now?