Last night James Archer held a moderated Q&A on business start-ups or what i cal:Entrepreneur’isms.
While most of the discussion focused on the nuts and bolts of a business, taxes, health insurance, employee management etc.. very little was discussed about the psychology of a successful enterpreneur. I did pipe in shortly about it. The bottom line is that one needs to “get money right” in their own head and move beyond the “job mentality” if they wish to succeed as a small business owner.
Whoring your skillset for a higher dollar wage as a one person shop is a start, but essentially still a job. Only so many hours in a day to earn cash. Internal motivation by pleasure, and learning to leverage your time are keys to starting up a real business. It took me a while to figure these things out.
I was that guy that paid money to attend a seminar taught by a wealth guru. I was also that guy that took what I learned, APPLIED it and quintupled (thats 5x) the earnings of my business, and expanded from as staff of 2 people to 6, in about 1 year.
None of that was the result of Nut and Bolts business stuff, ALL of it was because i got out of my own way. I am still getting out of my own way, Everyday I get further out of my own way the better I do. Curious what I mean by that, “getting out of your own way”? Ask me, I’ll tell you.
Last week we brought in some fresh talent to the company. A high dollar application developer.
The business is doing fine, we have savings built up, yet the sales pipeline is a little thin.
So you ask me, what are you thinking adding ##k a year to payroll if you dont have the work to pay for it?
The work will come. It always does. And now we are in a better position to capitalize on the forth coming opportunities. Said another way, we are “planning for success“. There is no other outcome, other than success. I dont even consider an alternative. I am so focused and commited to seeing my company, that I started in the bedroom of my apartment 3 years ago, be a success.
How do I measure success? Well we currently employ 3 (now 4) people whom work with us to craft our vision, Is that success? We have over 30 happy and loyal clients, is that success? We have our own office space in swanky Scottsdale, is that success? This business has spawned other businesses that are now producing passive income… My definition of success is measured in increments along a timeline to my ultimate goal, aka My Big Dream. You see, I have a dream for my life, a grand dream, a dream worth having. I taste, smell, feel, touch, and see the realization of this dream every second of every day. Every second I get closer to this dream becoming reality, in its entirety, is a a success. Its a journey folks, and every step you take to get there is a success.
We took a risk, We brought in great talent, on the faith of our future success, to help us get closer to our Big Dream. This individual also has a big dream they feel will be realized by working with us. Do you see the connection? We need people to help us, as we help them, achieve the life of abundance and wealth that we as god’s children deserve.
I own my future, i claimed it, its mine. I know what it looks like, and everyday i take a step closer to the tangible manifestation of it. I dare you to paint a picture of your future so vivid that you live it everyday.
143 days, that was the last time the Phoenix valley got any rain of any kind. Yesterday a wicked storm blew in dousing the whole western US it seemed. I Live in the extreme southwest of the valley. This morning you look from my front yard, about 30 miles to the north to the mountains that wrap around the north of the valley, ALL COVERED IN SNOW. I guess the snow levels got down to 2000 feet in some places.
Cool stuff, and for all you folks on the east coast, It will be in the low 80’s again in a few days.
Check out this cat. Hanzai Smatter.
Putting fools in their place since 19**?
Refresh Phoenix last night was pimp. Adrian Sannier did an awesome speech on moving ASU into the future. You can catch his blog and get a sumamry of his viewpoints. The guy has bitten off a kong size mouthful, but he seems crazy enough to pull it off.
This just in: I was just informed my blog has typos.. wow go figure.
I think it got a bad rap. The movie “The Island” that is.
I rented, watched, and thought it was a good movie. I cant figure why the critics dead panned it. Watch it, Its a good flick.
My friend and entrepreneur mentor, Andy Fuehl, has written a little piece about real estate investing on the Wealth Blog. He mentions how he mentored with Dolf De Roos, who is a very accomplished RE investor and has authored many books on the subject, one of which he co-authored with Andy.
I encourage everyone to consider getting a mentor, for anything one wishes to accell at. My personal mentoring sessions with Andy, have paid huge dividends. My web design business is growing exponentially, and my real estate investment portfolio is getting off the ground. More importantly a mentor really keeps you moving, pushing you to succeed. Andy does not hesitate to provide a swift kick in arse to keep me moving forward.
So whatever you want to do, find someone who has done it already, and has done it well, and seek out their advice and guideance, your return on investment for mentoring services will be HUGE! Think of it like this, you can pay (like it did) upwards of $35k for a college degree to learn how to make $50k a year. Or you can pay $5k-$10k over a few months to learn how to make millions for the rest of your life. It’s a no brainer.
BestPartyEver.com is now live! This party and event planning directory is the brainchild of my fabulous wife Sally. BPE will soon be the largest source on the internet for party planning ideas, event planning guides, and directory of vendors serving the special events industry.
Kudos to her for such a great idea.
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So Session 5 covered goal setting and asset protection.
When setting up long and short term goals, you have to claim in the now. “I now have $3000 in passive income on or before Feb 1st, 2006” This brings it into the now. If you state your goal in the future, your mind will take the path of least resistance and decide it does not need to focus on the goal, cuase it is out in the future. But by stating it as fact, in the NOW, your mind go to work making it so. Your sub-conscious will do whatever your conscious mind directs. So by giving clear instruction to your sub-c mind, that this goal has already happened, now, your sub-c goes to work to manifest it.
Andy Fuehl covers this in great detail in his book, Wealth Without A Job.
So we also covered asset protection. I wont go into great detail here, but there are ways (legal) to protect your real estate asset’s. Using land trusts and LLC’s you can “own nothing, and control everything” . Tell me that doesnt sound like fun. This protects your personal assets from any potential liability is a sue happy world.
The “theroy” stage of the 10 week coaching is tranisition more into the “doing” stage. I now own 2 addtional income properties on or before Feb 28th 2007. Did you notice the present tense of the goal. I OWN IT, The properties are already mine, the money is already in the bank, the deals have already been done. My sub-c and action on my part will ensure that it happens.
Go big or Go home.