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Albert Araujo: Never Give Up

Many people ask me how I do it and how I manage to never give up. The answer is not always quite that simple but the few things I can say is to live each day to its fullest. Find something

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you love with a passion and make that the one thing you push 200%. Ever since I can remember I have been driven by the passion of designing something new and making it big. My passion for success not only includes the design and financial aspect. It must allow me time to focus on the truly important things in life, spending quality time with my family and friends.

I want my life to have purpose and meaning. I see people as all being created equal which to me mean “if you can do it then so can I.” You should never consider yourself a lesser person than someone you just met who you consider successful. There is a well known phrase which says “every overnight success story comes after ten or more years of hard work.” If you really go back and take a look at the lives of most of the people you may consider to be successful, you will find that most of them failed many time while trying to succeed. The difference between the ones who make it and those that do not is that they never gave up. If you give up at 99% then you might as well have never started.

You may hear me say many times that the word failure is not part of my vocabulary. What others may consider failure I simply consider part of the learning curve and a lesson that makes you stronger and wiser. I could go on forever talking to you about the many mistakes I have made but would rather do that on a more personal one on one level. In summary, I had achieved the American dream at age 35; lost it all several times by the age of 40 and am currently well on my way back to becoming financially sound. What I will do for the purpose of this Blog is to describe my latest project and show you what I consider a better path to success.

My new Big Idea Is a product called 2Lock and 2lock.com

2Lock is a TSA compliant luggage lock that has a proprietary locking mechanism like no other. It does not require any special TSA keys to operate it and therefore is the only TSA compliant lock that can be used world wide. The greatest feature of 2lock is that it is not just a lock but a complete travel assistance service package. Each 2lock includes thirty days of FREE lost luggage insurance, global luggage tracking and retrieval service and a world class travel assistance service plan. Prior to traveling simply go to 2lock.com and register your lock. This will activate your FREE insurance and service plan for your first trip. Both the product and the web platform allow you to purchase our service plan and insurance packages for future travel.

2Lock + our world class travel assistance service = Global luggage and passenger protection.

The better approach

As an inventor and someone new to this business you may take the path that I first took. This path was recently nick named the kamikaze path. It is where you fall in love with your idea, ignore good advice and just go for it. We all have the wrong assumption that if we have a good product and work very hard then we will automatically succeeds. I went down this path several times and lost it all before I figured it out.

Prior to starting 2lock I sat down and set the following guide lines with Questions and answers.
1) Do an extensive patent search at uspto.gov if you find that your product is patentable then you can build value with intellectual properties. 2lock answer = no other product like it so proceed with national patents, international patents and trademarks. All web domains were available so I purchased them.

2) Ask yourself if there is a market and a need for your product. If the answer is yes then proceed. 2lock answer= yes there is a need, especially since 911 and all the recent security changes.

3) Research the size of the market and identify the monetary value of the market. 2lock answer = 2.4 billion pieces of luggage move within the US alone, 3.4 billion total. The 2lock market size is more or less 85 billion dollars per year. This does not include revenue from the insurance sales component of 2lock.

4) Now identify what 1-5% of this market will represent in terms of cash to your company. If this small piece of the pie falls within your idea of success then proceed. This percentage of market share is in my opinion a conservative place to start. 2lock answer= The numbers work for me.

5) Put together an OPERATIONAL business plan which clearly defines how you plan on capturing your share of the market. This plan needs to tell you where you are and where you want to be within a three to five year period.

6) Now that you have a plan you will have a better idea as to the cost of getting to where you want to go. This is where reality sets in; you need the cash to make it work. How are you going to get it? Try to do it alone if you can.

7) It takes money to make money. In my opinion the number one reason why most businesses fail is due to lack of working capital. Make sure you have the funding to execute the plan.

2lock has been my first business venture in which I have put to practice what I learned over many years. The fact that it has been thought out well and the fact that I am following a plan will not guarantee success but will allow both the product and the company the best possible rate of success.

For more information you can reach me at albert@2lock.com

Best of luck,
Albert Araujo