Released on: March 13, 2008, 9:57 pm

Press Release Author: annaya rana

Industry: Management

Press Release Summary: There is no question that Richard Parkes Cordock is an
inspiration.
In his own personal quest to develop his entrepreneurial abilities he interviewed 25
ultra successful millionaire entrepreneurs on everything from the developing the
millionaire mindset, right down to dealing with setbacks and disappointment.


Press Release Body: There is no question that Richard Parkes Cordock is an
inspiration.

In his own personal quest to develop his entrepreneurial abilities he interviewed 25
ultra successful millionaire entrepreneurs on everything from the developing the
millionaire mindset, right down to dealing with setbacks and disappointment.

Fortunately for all of us, he decided to organize what he learnt into the ground
breaking education program called the Millionaire MBA.....

The Interview.

DS: What inspired you to set up Millionaire MBA Ltd?

RPC: I knew if I wanted to become successful as an entrepreneur, I needed to
understand what made entrepreneurs successful. I could see that the common bond that
glues all successful entrepreneurs together was not their business or choice of
industry - but the entrepreneur themselves. More specifically it was the way the
entrepreneur thought that set them apart.

I knew if I could 'model' their 'millionaire mindset' - not only would I fast track
my own success as an entrepreneur, but I would be able to create a valuable training
course which would benefit others.

DS: Did you have any help setting up the company or were you going it alone?

RPC: In the very first weeks of the idea I actually started working with another
friend. It was clear at the outset that we had different ideas on what to develop
and shortly after we went our separate ways.

From then on I built the core of the course myself.

After 6 months or so, my wife joined me in the business and I'm glad she did because
there is no way I could have created Millionaire MBA without her. I certainly
underestimated how much effort it would take to build the course and working with
her made me realize the importance of teamwork right from the beginning.

In developing the course I have also relied heavily on external specialists and
professionals.

DS: What was the biggest challenge you faced in bringing your idea to fruition? How
was it overcome?

RPC: The biggest challenge initially was finding the courage to go it alone. But
once I had made the decision and got the momentum moving, the challenges were just
part of the journey. I talk of euphoric highs and crushing lows as an entrepreneur -
but it is funny looking back - the lows just seem to disappear away, and only the
highs remain.

To answer your question though - I did think at the time that 'creating the course'
was the biggest challenge. But now I am in the sales and marketing stage - I realize
that this is the biggest challenge.

The only way to overcome this or any challenge is to educate yourself, surround
yourself with other people who can help you reach your goals - and get on and do it!


DS: What makes you most proud of your achievements with Millionaire MBA Ltd?

RPC: I am most proud of the product I have developed. I brought together 25
ultra-successful UK entrepreneurs to build a unique home-study system for other
entrepreneurs and business owners.

No one has ever done this before and I am thrilled with the learning and wisdom
contained within the course. It makes me very proud when I hear how it has changed
the lives of our customers.

DS: How did you actually fund your business to get it off the ground?

RPC: I fortunately had some savings from my previous years working. The year before
I started Millionaire MBA I was fired from my job and decided then to go it alone as
a management consultant. I was lucky and was immediately asked to manage a project
for one year. It paid well and I managed to save some cash.

I must say I was surprised at how expensive it was to build the course and the
business - the expense was never ending. Everything takes four times as long and
costs four times as much as anticipated. It is probably four times as much fun
though.

DS: What attributes make a successful entrepreneur?

RPC: Ah this is my specialist subject, so rather than going into detail here, why
don't I just direct you to www.millionairemba.com. Sign up and download some of the
free information!

DS: What do you believe are the necessary elements for a business venture to succeed?

RPC:

1. An entrepreneur who will make it happen
2. A good commercial idea at a price which people will pay money for
3. Access to a market or access to your prospective customers
4. The right balance of the 4 P's of marketing
5. Access to a team of people who can make it happen
6. Some money to make it happen (although this should not be a barrier - if your
will is there, then the money will follow)

DS: How essential do you see a University education in achieving success as an
entrepreneur?

RPC: I personally do not think a university education is necessary at all to be an
entrepreneur. I do however think it is a great start in life and would encourage
anyone to take this path. If for nothing else - it's great fun and you make some of
your best friends in life there.

DS: What are the three most important lessons you have learned about business and
entrepreneurship?

RPC:

1. Believe in yourself and your product. If I did not believe in what I offered and
what I do - I would not continue. The 4'P's: Price, Product, Promotion and Placement
are critical. If you can get the right balance of these (by testing) - then your
success will follow.

2. Customer is king. Deliver what your customer wants at a price they will pay. Just
because you know what you are offering is great value - your customer may not. Make
it easy for them to buy.

3. Never give up. Success is not easy and persistence is crucial. Get the
fundamentals right and then go for it - and keep going (testing, refining and
tweaking your offer all the way).

DS: What advice would you give to an aspiring entrepreneur?

RPC:

1. My first piece of advice for aspiring entrepreneurs is to BECOME an entrepreneur.
Do not just talk about it - do it. Get out there and start something (even if it is
part time). I can guarantee that you will make thousands of mistakes as an
entrepreneur - so it is best to get started now. The more mistakes you make - the
more you learn, so why wait?

2. My second piece of advice is educating yourself and learns from others who are
successful. There are REPEATABLE AND CONSISTENT RULES for success as an entrepreneur
- it makes sense to learn them!

DS: What\'s the number one book you would recommend to aspiring entrepreneurs?

RPC: Think and Grow Rich (written in 1937 by Napoleon Hill) stands out from the rest.

It was this book which inspired me to carry on the work of Napoleon Hill and create
Millionaire MBA. I have actually just written a book which will be published in
early 2006 and brings together some of the thinking in Think and Grow Rich and
Millionaire MBA. As an entrepreneur it would be wrong of me not to mention this
book!

DS: What memorable mistakes, if any, have you made in business? What did you learn
from them and how can they be avoided?

RPC: The biggest mistake I made was to do an exclusive marketing deal and give up
the marketing control of my product. I have now reversed that deal and will never do
that again.

What I learned from that is that no one else will be as passionate, driven to
succeed or focused on your company's success as you. People will tell you how great
they are and how much success they can create for you - but the only thing that
matters is the results they produce.

So the learning from this mistake is keep total control of your business and follows
your gut instinct. If you have ANY doubt when taking on a new business partner -
walk away! Business is like a marriage - you would never have any doubt about your
wife or husband!

DS: What are the best and worst things about being an entrepreneur?

RPC: The best thing is the freedom! Never being told what to do, and not having a
boss!

The worst thing - everything rests on you. There is nowhere to hide and mistakes can
cost you dearly. But at least you soon know if you are any good at what you do!

DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs
that you\'d like to add?

RPC: There is a big picture here which is important to look at. We live for 70-80
years on average. Most of that time is spent working, so we better do something we
enjoy!

Most employees do not actually earn enough to become financially independent -
compared to most entrepreneurs who do (eventually!).

The skills you develop as an entrepreneur are so wide and varied (and commercial)
that they are skills for life.

Whereas most people are focused on working, earning and spending money (not saving,
having a pension or preparing for later life), entrepreneurs spend their time
creating value, having fun doing it and building a business that will give them
financial independence.

I would say to any aspiring entrepreneur - what is it you want to get out of life?
If you want a fun rollercoaster of a life and experience true independence - become
an entrepreneur. If not - get a job!


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