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The biggest risk for the newly self-employed

To understand what fear is and what the risk it poses for somebody who is self-employed, we need learn all about it.
 
Fear is an instinctive emotion felt by both people and animals. It is a survival mechanim that is triggered automatically in anticipation of danger and it affects the body.

When this mechanism is triggered, the brain produces adrenaline, preparing the entire body for strenuous physical activity. The greater the danger is perceived to be, the stronger the physical response. Large amounts of blood flow to the muscles and the heart rate increases to supply oxygen quickly. The pulse also quickens to meet these demands.

Think back to your schooldays, when you annoyed the class bully... Remember how you felt? He suddenly takes off after you. You escape from him in a total panic. While running, you realize that your need to escape gave you the ability to run faster than you ever had before and you were able to get away from the best runner in the class.
 
This is all true, because what motivated him was anger or revenge, the desire to catch you. However this is not as strong as the power of survival. Fear is the greatest power of all. For example, look at the many regimes around the world that tightly control their peoples through fear they instill.
 
After we understand that fear is part of us, we have to learn not to nurture our fears. To keep them for extreme cases, like when a lion escapes from the zoo and starts chasing us...

The greatest risk to any person is to empower their fears.
Remember we all have the courage to stand up to our fears.

A grandfather and grandson sat together.
The grandson asked, "Grandpa, why are there rich people and poor people in this world?"
The grandfather responded, "My dear grandson, everybody has two tigers in their stomach. One contains all of our fears, and the other contains our courage and desire to emerge and express our abilities.  The two tigers struggle against each other their entire lives."
The grandson asked, "And which tiger will win in my body, Grandpa?"
The grandfather responded, "The one you feed."

And if we're discussing courage and fear, let me warn you:
The most dangerous consultants are those who love you. Watch out for family members or friends who give you advice. Very often, friends and family who reject your ideas are actually voicing their own fears... Don't let them influence you!
 
For example, when I decided to study locksmithing professionally, I asked my relatives for advice. Unfortunately, I got strange warnings. The warnings actually came from people who truly love me, so I am sure they only wanted what was best for me, but what they said was grounded in their own fears. In fact, without realizing it, they put their fears on me.

I received many warnings:
Ä    "Don't do it. If it were good, lots of people would work in the field."
Ä    "So why aren't there many, huh? That just goes to show you it's worthless."
Ä    "If you become a professional locksmith, two thugs will come, take you to the bank and force you to open the vault at the bank."
Ä     "If you become a professional locksmith and people call you to break in at night, when you open the customer's door, there will be a big dog that thinks you’re a burglar and will bite you. And if instead of a dog they have a crocodile, it will bite your head off."

 

One of the most absurd warnings I heard was the following: "If you succeed and earn lots of money, the income tax people will come after you."
 
So, please, let me give you two pieces of advice:
The first is never let fear stop you from moving forward in life.
The second, registering as a business with the income tax authorities is not the same as having a criminal complaint registered against you with the police. Everybody is afraid of the tax men. So? I sincerely hope you see the day, when you will have to pay very high taxes. I'm pretty sure that Donald Trump and Bill Gates pay millions of shekels in taxes each month, and I don't know anybody who wouldn't change places with them in a flash. So first try to get to a place where the tax men want to get you. You’ve still got your work cut out for you...

When fear strikes, we usually have only two options: fight or flight.

What would you do if a lion that escaped from the zoo chased you all the way home and waited on your doorstep until you came out.

You need to plot a course of action, a war plan, if you like. Clearly, you can't stay inside the house forever. You need to fight the lion on the doorstep, because it's only you and the lion that's outside. If you wait for the welfare authorities to come get the lion and rescue you, in real life you'll have to survive on a minimal monthly pension check. So why start out that way now? If you don't do anything, it's safe to assume that when you turn 67, you'll get that minimal pension. If fear conquers you, you will be stuck inside all the time, to the delight of the lion. The problem is that the more time passes, the weaker you get. If you fight right at the beginning, your strength is still on your side.

 

Let me suggest a seven-step program to fight back against the lion:

  1. Push the refrigerator up against the door, leaving ten centimeters between the door and the refrigerator.
  2. Push the oven up against the refrigerator and the washing machine against the oven. Together, they will be flush with the doorpost, so your Mul-T-Lock door will only be able to open ten centimeters.
  3. Take a rope and tie the sharpest and biggest knife you have to the end of the broomstick, which is reinforced by the handle of your squeegee.
  4. In a large pot, boil a large amount of oil until it reaches the highest heat possible.
  5. Take a steak, open the door using the hook on your Mul-T-lock door. Call the lion through the narrow slot and say, "Sweetie... Here's some steak... Yummy."
  6. Through the boiling oil into his eyes and stab him repeatedly.
  7. After you overpower him, go to the closest supermarket and buy broomsticks and a few bottles of oil, just in case... Who knows how many more lions are waiting outside?!

And even if you are injured or get scratched by his claws, believe me, it's much better that locking yourself up in your house forever.

 

Owning a locksmith Business

 

There are basically 2 ways to run your business.

1.        Using a mobile service

2.        Using a storefront service

Each of these methods provides its own benefits and limitations

 

Mobile Service

Storefront Service

Cost

Less Expensive ~ $1000.00

$50000- 100000

Start up time

Quick – work out of your car!

Could be months to get store built out

Inventory costs

Low – minimal inventory required

High must stock may locksets, keys, machines, etc

Revenue Potential / month

???

????

Utility and maintenance costs

Fuel and regular car maintenance

Electric, A/C, rent, fixtures

Customers service

Must go to customer

  Customer come to you and you may not be able to leave the store to service them unless you have employees

 

 

 

 

From this chart you can see that there are many benefits to running your business as a mobile service especially when starting up your business. It is a great way to get experience as well.   Once you are established you can always open a store and add those additional services to what you offer your clients.

In running a mobile service – which is what we recommend; you will need the following tools

Ø   Hammer

Ø   Screwdriver

Ø   Vice grip pliers – regular and needle nose

Ø   Power drill – Mikita is best; Dewault is also good

o    Drill bits – titanium is best to cut through metal   and steel doors

o    Screwdriver tips

Ø   Disc Sander

o    Griding disc

o    Cutting disc

Ø   Awl – to punch holes

Ø   Pippin file

Ø   Wedges or inflatable wedge

Ø   Many of the rods needed to open car doors can be made at home or you may purchase them

Ø   Lubricant ( WD-40)

These items may be purchased online at

http://www.factoryauthorizedoutlet.com/makita/us/products/cordless.asp

http://www.lockpickshop.com/

http://www.restockit.com/tools-and-storage/automotive/locksmith-tools.html

 

I wish you the best of luck, 
                          
Boaz Femson 
Founder and director of the Online Locksmith Course

 


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