19 comments so far… Leave a reply

1. Tom - StandOutBlogger.com
   January 18, 2009 9:54 pm

   

   Fantastic tip Dean! I absolutely loved the 1cent analogy and that is the main reason I am focusing my efforts this year and concentrating on a select few projects that I can see future success in. So many people give up way to early. I have watched so many bloggers with a truckload of potential quit just before it looks like their blog is about to jump to the next level.

2. Hunter Nuttall
   January 18, 2009 11:16 pm

   

   I liked the 1 cent analogy too. Of course, if people knew their 1 cent would keep doubling (and what it would get up to), it would be a lot easier to stay the course. But if they've somehow learned to expect instant riches, then they'd see their progress as failure, and decide to quit. I find it inspiring to hear about a big success who started slowly, because it gives hope to people who haven't managed to strike it rich instantly.

3. And Brown
   January 18, 2009 11:30 pm

   

   Dean is spot on. Actually as Gary Vaynerchuk says - to build a successful business online you need the 2 Ps, namely patience and passion. Many people forget this and believe success should be instant on the internet. Unfortunately this isn’t how it works and if it is going to take time to business your online business, you better have the passion. Cheers Andy AndyBrown.org/blog

4. Cash Matrix
   January 19, 2009 5:35 am

   

   Yes the 1cent analogy is something to learn from.

5. Umair Khan Jadoon
   January 19, 2009 8:28 am

   

   Excellent tip! I totally agree. Even if you work v.hard, success can take months to happen! but will not take years if you never stop the handwork :)

6. Brandon - Internet Marketing Online
   January 19, 2009 8:36 am

   

   Great advice Dean! I agree with you Tom, many people give up when they are half way there because they lose sight of what they are trying to achieve. Those that stick at it and persevere are the ones which ultimately come out as the winners.

7. Dean Hunt
   January 19, 2009 11:14 am

   

   Thanks for the kind words guys n gals. It is something we are ALL guilty of at one point. I was once asked this question: How do you eat an entire elephant? Answer: One bite at a time. Same applies to business. Dean BuzzProfits.com

8. brooks
   January 19, 2009 12:10 pm

   

   If it's from the gut of this creative guy, entrepreneurs must follow this one!

9. Suzanne
   January 19, 2009 12:27 pm

   

   Patience is key - thanks Dean for reminding us about that. It takes time to build relationships, get to know your clients and potential clients, and deliver a great product or content. The true magic of success behind being patient is that you build a brand and a client base that comes back year after year, refers you to others and follows you where you go.

10. Scott
    January 19, 2009 12:41 pm

    

    5 million dollars? Loved the Austin Powers reference there :P Good stuff; looking forward to advancing my online ventures in '09 and seeing how it goes. Scott.

11. Cash Matrix
    January 19, 2009 12:42 pm

    

    Hi, Fantastic post, wonderful breakdowns . Simply put ………. Very useful . Thanks heaps for sharing your experiences and knowledge.

12. Dean Hunt
    January 19, 2009 12:59 pm

    

    Scott, Glad to see you noticed the Austin Powers reference. hehe. ;-)

13. tom
    January 19, 2009 8:36 pm

    

    great video, similar to the snowball effect. AJ at persuasive.net talks about on his latest post.

14. Atniz
    January 20, 2009 2:00 am

    

    Good advice. Patience is the most important key in anyone's success.

15. My Video Debut
    January 20, 2009 12:23 pm

    [...] was asked to provide a short video for my buddies site at Retireat21.com for young [...]

16. Xscape
    January 20, 2009 1:56 pm

    

    I love the accent Dean! I've heard the penny analogy before but it's still a great one. It's a hard deal knowing when to hold on and continuing working your idea and when it's clearly not working and it's time to pull out. Finding that balance is crucial in all business.

17. lifts
    January 20, 2009 3:10 pm

    

    A great tip! We're all guilty of it at some point.......we want results now. Alas.....it just doesn't work that way.

18. Why The RICH are getting richer and YOU’RE not…..
    February 5, 2009 1:01 pm

    [...] Dean Hunt’s ‘One Cent Rule‘ when he gave his tip to the young [...]

19. Stand Out Blogger » Turning Failure Into Success In 3 Simple Steps!
    April 20, 2009 7:22 am

    [...] Dean Hunt puts it nicely on in a video over at RetireAt21.com. [...]

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