3 Reasons Why People Buy Brands

When someone goes out to buy something, why is it that a large percentage of the population prefers a branded item over a generic product in the same item category, even when buying something as simple as salt or diapers?

There are a number of reasons why brands are linked with quality and a large segment of the customer market is drawn towards brands and completely ignores other local options.

Here are 3 important reasons why buying brands has become a habit of the population:

1. Perceptive Quality of A Brand

Many consumers have a perception about brand quality. They believe that a brand will surely offer unparalleled quality with consistency every time. This perception is what makes them prefer brands over generic products.

For consumers, quality is the highest priority, and they are willing to pay more because they feel that product quality is something they can never compromise on. Brands have earned their trust in this regard over the years.

While a local product might be just as good, the perceived quality of the brand wins every time.

2. Safety

Consumers generally prefer a safe and secure option, something they’re already familiar with, rather than try something new or different. When it comes to health, people are not willing to try out a new product no matter how affordable the price. They feel that a product they have always used is the best thing for their family.

3. Satisfaction and Trust

Trust Image 2If a particular brand has delivered consistent quality over time, it builds trust in the mind of the consumer. This in turn leads to great satisfaction and comfort, which prompts the consumer to buy that particular brand every time without any second thought to spare for the other numerous products available in the market.

There is a magic brought by a brand that consumers are drawn towards them and are willing to spend more to purchase a branded product they have come to associate with quality over a period of time.

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Be The Catalytic Leader, Be the Change Maker

A leader is one who not only has the foresight to see the possible changes in the future, but is also one who prepares his team on how to survive the changing tides of time.

iStock_000003854002LargeChange – The Dynamic For Your Team!

Adapting to change is nothing less than an ordeal for a team of people who are accustomed to a particular method of work. Any dynamic change in the industry and these workers are left directionless, with no idea of how to go about managing the change. Most employees in an organization are highly resistant to change, which poses a serious threat to the survival of the company. With a workforce unwilling to change and adapt to new methods, how can a company in any sector hope to compete or survive in the highly competitive sector?

Catalyst For Change!

The answer is provided by a leader! A leader is your catalyst who will bring about change by inspiring the team to see the modifications as an opportunity, and not as a threat. By subtly modifying the mindset and perceptions of a team, a leader prepares the workforce to get ready for change and welcome it with open arms.

As Napoleon Bonaparte said, “A leader is a dealer in hope.” By inspiring with hope, a leader helps their people adapt to the change and easily survive the challenging transition easily. What nobody can ever hope to achieve, is in fact conquered by a leader, as he infuses his spirit of belief, motivation and inspiration into his team, driving them to work and seek opportunities in every change that is around the corner.

Empower Team And Prepare Future Leaders

As Bill Gates said, “As we look ahead into the next century, leaders will be those who inspire others.”  

And the leaders are preparing for this future change by empowering their team and paving the way for them to become leaders in their own way.

Quote 81Great leaders not only inspire to accept change, they also help prepare leaders who are themselves catalysts and have the will to grasp every opportunity for change as a good chance at future success.

If you see an opportunity where everyone else cringes from change, then you are the catalyst, a characteristic of future leaders!

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4 Traits of Successful Business Leaders

Business blog image 03-13-15leaders are the driving force behind a company. They serve as the catalyst required to bring about needed change in the management and practices of the organization. But in order to ensure success, it is essential that a leader cultivates and develops positive traits which are recognized to be crucial to the achievement of their triumphs.

Following are 4 traits which the best business leaders in the industry have developed and perfected over time:

1. Dedicated Persistence

If you want to enjoy success like Henry Ford, pledge yourself to the saying, “If at once you don’t succeed, try, try, and try again.”  Because this is exactly what this great leader did. He perfected his car design models after each failure and eventually became the wealthiest man in the world, setting an example.

So, make sure that you are dedicatedly persistent in your efforts.

2. Recognition of Talent

As a leader, you should naturally have or cultivate the quality to recognize skilled talent in your potential employees. Great leaders like Steve Jobs never lost an opportunity to recognize the talent potential of any individual they would want to include in their team.

Good leaders surround themselves with skilled talent and that is exactly what Jobs did. You need to do the same.

3. Struggle For Perfection

Great leaders are never satisfied. They want to strive for the next level of perfection in their work, and wish to succeed to the next business level. Google, Facebook, and Yahoo, all have that in common.

Even after achieving a billion dollar status, these companies continue to seek perfection in every aspect of business. Every leader needs to have an urge for seeking perfection and not be satisfied with what they have achieved so far. Always strive for the best thing on the next corner!

4. Fearlessness And Courage

These are vital traits that every leader must have. If a leader is afraid or hesitant to take a risk or experiment, then they cannot ensure success within the industry. A leader must be courageous enough to willing try new ideas and be prepared to fail before he stumbles upon the perfect success formula.

Richard Branson is a big supporter of the idea of leaders taking risks to succeed. He believes that it is very important to learn through failure and perfect your strategy to achieve success.

All these traits are found in some of the most successful business leaders of the industry. If you want to ensure success, then you need to adopt these traits.

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BEWARE of the Pretenders

Facebook Scam Image 03-03-15

Facebook Screen shot of an individual who stole my personal photo with a fake name.

So, what do you do when people steal your pictures and use them to create fake profiles and then rip-off or scam people out of money …?

I literally have no idea …

But it’s happening. Over the last 3 years we at first thought it was a bit of a joke that someone would steal my pictures and create scam profiles on Facebook and dating sites.

Then they got pictures of my kids and now it was war. We kept hunting them and Google image searching to find them, we even tried to find where they were, and either Nigeria or Malaysia was all we could gather.

But it didn’t stop.

As fast as we would catch them and report them and have them removed, another site would pop up.

And over the years several very helpful people have reported them to us and once again we would get them removed …

Facebook scam image 2

If you see anyone taking part in this scam, please report them to Facebook.

Now they have gone even further. They create the scam profile, they befriend people across the world and then start to ask them for money. They get bank account details and the rip-off begins. I don’t know how or why people would fall for this but they do.

These profiles using my stolen pictures are set up with only one purpose, to scam people (mostly women) out of money.

Please if you see any of these scam profiles (they use different names but my pictures) report them or just message me or my team. Thanks for your help, let’s make sure these rip-off merchants are STOPPED …

 

 

 

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Hitting The Road For My 2014 Buying Customers Tour

brad-speakingI’ve dedicated my life to helping business owners succeed because I’ve always been a believer in abundance through business re-education.

Scarcity is a buzzword you hear a lot, but in reality the world is far more abundant than we might think at first. One of the ways I’ve been able to spread abundance is through ActionCOACH, but it hasn’t been the only way. There’s always more to do, more business owners to reach and more countries to spread my message to.

It is with this spirit that I’ve decided to hit the road on my biggest tour in four years, my 2014 Buying Customers Tour. During this Tour, I will discuss all the areas that made Buying Customers such a breakthrough for business owners and entrepreneurs.

This seminar will help business owners understand how to bring new customers to their business while creating an army of raving fans who buy from your business time and again. If you are a business owner looking to grow your revenue and profits, you have to attend this tour.

Through Profit Masters, ActionCOACH, The Business Excellence Forum, my books and my live webinar series, I’ve been able to reach a lot of people but there are always more people looking to grow their business and reach their potential. That’s why I’m going on this tour… And that’s why every event on this tour is absolutely free to attend.

For me, there’s nothing quite as satisfying as delivering the message directly to the business owners themselves and we have a great list of cities and business owners to visit to help them grow their business the right way.

I’ve already started this tour, visiting Tampa and Phoenix with my next stop scheduled for Houston on May 15.

Remember, these events are free and, more importantly, deliver real actionable strategies that business owners can put to use right away. It’s an event that will help you understand how important and profitable business coaching can be for your business.

Just click on the links provided to join me on my 2014 Buying Customers Tour in the city closest to you. I can’t wait to see you there.

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Learn Your Score with Consistent Cash Flow

One of the best things about starting ActionCOACH was that it gave me the chance to help really talented people achieve their dreams. I don’t just mean my clients, but my coaches as well. All of the people we choose to be ActionCOACH Business Coaches have experienced an incredible level of success before coming to us and once they become an ActionCOACH they take that success to a new level.

One of our top coaches, not only in the US, but around the world, is Tom Palzewicz from Elm Grove, Wisconsin. For years Tom has helped his clients grow, building one of our top firms in the world and a powerful reputation in his community. Now Tom is ready to deliver the message he’s used to help so many of his clients in his first book, Consistent Cash Flow.

Consistent Cash Flow leaves no stone unturned when it comes to the financials of a business. Tom goes deep to bring you every aspect of “keeping score” in your business that you could possibly think of… and most importantly, he tells you why these areas are so important to your business and how you can utilize all of this reporting to build a business you can pass down to your children, or sell at a nice profit, some day.

After completing the book, Tom told me, “After years of coaching business owners and asking numerous questions about the financial results of their businesses, I realized that most business owners really need a methodology to help them understand what to measure and manage in their business. This book is a direct result of hundreds of coaching relationships and will help readers create consistent cash flow in their business.”

It’s incredibly gratifying every time an ActionCOACH leverages their knowledge and skills to produce something that is sure to help business owners, and after reading Tom’s book, I’m positive it will do just that.

So if you want to learn exactly how to keep score in your business, and how to put that information to use to ensure your business always has Consistent Cash Flow, just follow the link and get your copy today!

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9 Steps To Help You Plan for a Profitable 2014

planning-for-2014Without proper planning, any action you may take could be a waste of time. Planning helps to put you on the right path to where you want to go and with the New Year here, it’s a great opportunity to spell out the best way to turn your plans into reality so here are 9 Steps to Develop a Plan for Action.

1- Express your solution as a series of goals

Ideally, when you commit to goals they are to solve a challenge or issue in your business or life. Having agreed on a solution to a particular problem, you first need to define that solution in terms of number of goals and objectives. For example, each goal could be expressed as follows: “For us to ….., we would need to …..” Record each goal at the top of a whiteboard or sheet of paper.

2- Generate a list of Actions for each goal

Use brainstorming to compile a list of actions to achieve a particular goal and record these below the goal. Arrange this list of suggested actions in sequential order.

3- Prepare a timeline

Beginning with a time point labeled “now” and ending with a point labeled “goal achieved“, build a timeline on which you allocate dates by which you intend to complete each of the sequential actions listed under a particular goal. It is important that you get both sequence and timing right if you are to reach “goal achieved” effectively.

4- Allocate resources

Financial, physical and human resources must be allocated to each step toward achieving your goal. If resources are limited, or fall short of requirements at any stage, it may be necessary to return to an earlier step and revise the action plan.

5- Identify possible problems

Consider all of the things that could go wrong in the process of achieving a particular goal. List these problems and identify causes and suitable actions to resolve them. If necessary, these actions might need to be added to appropriate slots in the timeline

6- Develop strategies for monitoring progress

List ways in which progress of the action plan can be monitored. These monitoring stages should also be included on the timeline.

7- Assign tasks

Take each point on the timeline and ask : “Who will do what, by the date set, to bring about the specified action?” Allocate these tasks to appropriate individuals or teams.

8- Estimate costs

Give consideration to any expenditure required to complete the task. All costs will have to be taken into account when preparing a budget. If funds are not available, tasks will have to be reviewed and, where necessary, revised or eliminated.

9- Implement the plan

Translate all your information to a clean copy, listing the actions required, the person responsible for a particular task, and when that task is to be completed. Having now finalized the plan for action in specific terms, this information can now be made available to all involved.

With these steps, planning is made simpler and more efficient, so take them and run…all the way into the best year you’ve ever had in 2014.

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Customers Loyalty Strategies Will Make 2014 Your Best Year Yet

loyal-customersEncouraging your existing customers to return is one of the most important things you can do. For most businesses, until your customers have bought from you an average of two times, you’re losing money, typically because most business’ acquisition costs are high.

But businesses need to get them to come back more often and they’ll not only become profitable, they’ll become loyal customers, moving up the Loyalty Ladder on their way to being a Raving Fan.

Customer loyalty is such an important topic because it’s far easier keeping a customer than finding a new one. Yet most businesses seem determined to do it the hard way, chasing prospects that may never become customers, instead of inspiring loyalty with their existing customers.

The fact is, unless you actively do things to encourage your customers to keep doing business with you, there’s always the chance they may be lured away by another business, isn’t there? And by concentrating on loyalty strategies, you’ll be increasing their average dollar sale and their number of transactions at the same time, which will have a direct impact on your bottom line.

This is something most businesses miss. They fail to realize there are five, and only five, basic areas to concentrate on when trying to influence the bottom line. They are leads, conversion rate, number of transactions, average dollar sale, and margins, nothing more. And working with existing customers has got to be cheaper and easier than fishing for new ones.

This will be our last blog post of 2013 and as we move forward with these blogs in 2014, I will continue to outline powerful strategies I’ve introduced to thousands of business all over the world. They’re easy to implement and they work, which means these are things that you must give careful consideration to. Each step represents the cornerstone of a great strategy.

And remember, it’s vital you test and measure as you go. Remember that, while there are certain rules to running a business successfully it’s still largely a matter of trial and error. This makes it essential that you meticulously record every result. Its extra work, but you’ll be glad when you have a business that you know will produce results. That confidence only comes from testing and measuring these strategies to see what really works for your business.

And everyone have a Merry Christmas, Happy Holiday and a safe and Happy New Year…see you in 2014…

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Here’s Why You Need to Keep an Accurate Database

customer-databaseBy regularly updating your database you’ll be sure your time and money are being well spent. Nobody wants to waste time and money trying to contact people when they have outdated information on them. What’s more, they could be inactive customers–people no longer interested in what you have to offer.

Take real estate sales, for instance. If you were a real estate salesperson, you’d be keeping contact details of everyone who makes contact with you, be that from open for inspections, office walk-ins, or from your advertisements.

Hopefully you maintain a good record-keeping system that would indicate when they made contact, what was discussed, what their needs are, what the budget is, and which properties you’ve shown them. You should also keep records of what they thought of each property and how much they would be prepared to pay for each. Not only will this information help you accurately match their requirements with the properties you have on your books, but you’d also be able to provide your sellers with real market feedback.

Now, if you make contact with 10 or 20 prospective buyers each day, in a month you’ll have a sizable and potentially valuable database of well-qualified prospects. But unless you diligently update it, you’ll quickly end up with a wad of useless information. You see, as the days go by many people on your list will buy properties from other real estate agents. As soon as this happens, they’re no longer on the market. And they probably wouldn’t reenter the market for six or seven years.

So unless you regularly update your database through keeping in contact with the people on it, you’d waste a lot of time that could be more productively and lucratively spent chasing other listings or buyers. Money saved here goes directly to your bottom line.

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Here’s a Powerful, Easy to Implement Strategy for Your Business

Make-More-MoneyNow I know this might sound simplistic, strange, or both, but if you want your profit to increase, the easiest way to achieve this is to increase your margins or your prices. It’s that simple.

And the funny thing is that most business owners are too terrified to do this. They seem to believe it will drive them out of business! The exact opposite is true. You’ll find that most of your customers won’t even notice. And if they do, chances are they won’t care. Those that notice and object are probably your “C” and “D” Grade customers anyway. My experience is that business owners have more of a problem with this strategy than their customers, so don’t over-think it, just do it.

You need to understand that this is the fastest and best way to bump up your profitability. But if you’re too scared to increase your prices across the board, try doing it to just 80 percent of your range. Choose the slow movers first, increase their prices, and leave your fast sellers until last.

It’s funny how many business owners instinctively want to cut prices to increase profit. This is something I never advocate. For most companies, a pricing increase of 10 percent and a new focus on the average dollar sale will invariably lead to more profits for the business. Cutting prices simply won’t help you grow your profits over the long term. In fact, it usually does the opposite and to make up for the profits lost to discounting you have to generate loads of new customers, which is typically expensive and time consuming.

Over the years, we’ve instituted this strategy with thousands of businesses and it is almost always a positive for the company’s bottom line, so don’t write off this strategy without a further thought. Thousands of businesses I’ve coached have increased their prices without any negative effects.

These companies benefited immediately and marveled at the effect it had on their business. So resist the temptation to give money away before you’ve even begun negotiating with clients or selling to customers. Don’t do it. Instead, raise your prices a bit and measure the results.

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In the Red or Black? Actual Costs and Set Budgets Can Make the Difference

set budgets and actual costsLast week I gave you an overview on money-related strategies and this week we get to the heart of the matter, the strategies, so let’s get started with Actual Costs and Set Budgets.

It’s really amazing how many businesses have no idea what their actual costs are. Some who believe they know their costs usually only now the obvious ones like salaries, rent, materials or stock on hand.

But there are a lot more costs that go into running your business and the basics are only the tip of the iceberg. If you were to sit down and think about it, you’d soon realize that many of your costs are never actually measured or evaluated. How can you reduce them if you don’t know what they are at present?

You’ve got to take the time to find out what your actual costs are. Spend a week checking in your business, absolutely everything. If you don’t have the time or patience, hire someone to do it for you, it’ll be well worth your while.

Once you know what all your costs are, you can call around and get quotes from different suppliers for the things you spend money on regularly. You might be surprised at how much you’re wasting. And any savings here directly affects your profit.

Once you’ve gone through this process, you need to think about setting monthly expenditure budgets. By setting monthly budgets and sticking to them, you can ensure you’re never in the position where you have more money going out than you have coming in.

But don’t forget to let everyone involved in your company know what your budgets are because they can only stick to them if they know what the limits are… and stress that these, budgets are never to be broken.

If your company is like a lot of companies around the world, this little exercise will be a real awakening for you. You can begin to uncover a lot of things that need tightening within your business and add those resources directly to your bottom line.

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What Are Money-Related Strategies?

money-related-strategies-brad-blogHow you manage the financial side of your business obviously affects the profits it will make. That goes without saying, but there are money-related strategies that you should use that can make a huge difference in your bottom line. Over the next few weeks we will talk about many of those strategies, but before we do let’s clarify some terms.

First, what do I mean when I talk about money-related strategies? Am I referring to investment strategies or different accounting systems or ways of keeping your books?

No, what I’m referring to here are strategies you should be using to generate more profit, not deal with your profits after you’ve made it.

I know you can “make” more profit simply by changing the way you account for your money, but that’s not really the object of what I’m suggesting. I’m talking about really making more profit, (and more money) not smarter ways to make it appear as though your company is making more money.

I’m looking at this from a management point of view, not an accountant’s. This is what makes it doable, because you don’t need to be a numbers person to make it happen-and you certainly don’t need a financial degree.

To start, let’s once again take a look at the word “money.” What does it mean? And how does it relate to profit? According to the dictionary, it is a medium that can be exchanged for goods and services and is used as a measure of their values on the market.

But how does it relate to profit? Well, it also means profit or loss relating to• money: He made money on the sale of his properties. Isn’t that interesting?

Next week we will get into some strategies that you can use to make that money and believe me, those strategies won’t be accounting tricks…

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More Questions to Ask Before You Start Your Own Business…

questions-before-your-own-businessA few weeks ago we talked about some questions you need to ask yourself before you start a business. This week let’s look at some more questions you need to go over before you get too deep and have trouble getting your start-up off the ground. Let’s get started…

What business are you in?

This is a simple question right? Wrong.

No matter what kind of business you are in, your business isn’t about the product you sell. Your business is about the customers you serve. When you think about it this way, it’s easier to remember that you and every other business in the world are in the customer service business.

Strong businesses are based on repeat customers and the referrals they bring to the business. You may survive without repeat customers, but your business will never thrive and you will constantly be catering to people based on price, rather than the value your company provides them.

To keep your customers happy, find out what makes them happy and do it. This is how you keep them coming back for more. Any business can build repeat business and referrals, if they focus on the customer first.

What is the ultimate goal for you and your business?

If you want to have a business that supports your needs and goals, you need to think globally, even at the beginning.

Yes, very few businesses are going to start out with more than one location or serve a larger market than the one they have on hand, but a global mindset is incredibly important to the long term success of any business because if you consider your business nothing more than a local establishment, guess what it will always be? It will always be a local establishment.

If you aren’t thinking globally you are limiting yourself and decreasing the chances for your success before you’ve even started.

Remember, this is your dream, so dream big.

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Relationship Marketing Will Help You Grow Profitably

Handshake and teamworkIs relationship marketing cheaper than traditional advertising? Of course it is and with the social media boom still in full affect, in many ways it’s easier than ever to build relationships with your clients and customers

There are relationships you need to cultivate to get your business booming and the first, and most important, is your relationship with your customers. If your relationship with your customers is strong, you will build an army of ravings fans who bring you enough referrals that you don’t have to invest so many of your resources in traditional advertising.

So how good is your relationship with your customers?

Here is how I measure the relationship I have with customers. I ask them how likely they are to refer my business to others on a scale from 1 to 10.

If they answer a nine or ten, the relationship is very good, a five to eight, the relationship is ok, but they aren’t going to refer you to anyone. A score under five isn’t good and you probably won’t have their business much longer, let alone get any referrals.

If your scores aren’t good, you should be excited because you have massive room for improvement. Don’t be afraid of bad scores because it’s worse than not knowing at all. If you haven’t asked the question, you don’t know the answer and you can’t fix the problem.

Once you understand the relationships you have with your customers, it’s time to move on to generating referrals.

You need to measure this aspect as well so start by creating a baseline by asking yourself how many ways do you ask for referrals every day, what strategies do you have for creating referrals and do you make it easy for customers to refer your business?

There is no limit to the number of strategies you can employ to generate referrals. Of course there isn’t, but if I told you that you could only use 10 strategies to generate referrals, how many would you use? You’d probably use all 10 because if you used less, you might feel like you were falling behind your competition. You could use more, but that may be too much work, but you shouldn’t do any less because you want to figure out what will work.

Remember, for referrals to work, you have to ask for them and make the process easy and a major part of doing those things is developing relationships with your customers.

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Why Your Business Is Best For Cashflow

cashflow-bradblog2First and most importantly to me, it’s fun to use your business as a cashflow generator. I love to play the game. I love the challenge of marketing, team building, sales, accounting, and cashflow management. I love doing deals. I love making decisions and I love being a leader. I also love the fact that I get to deal with so many different things as well as so many of the same things. You’ll fall in love with it too when you see the results it can get for you.

Second, where else can you get all of the tax benefits a business brings? Depending on your tax jurisdiction these will vary, but globally the tax system certainly favors those of us in business.

Third, the revenue stream can jump massively in a couple of weeks, days, or hours. And, very often, a 10 percent increase in income will double or triple the profits, thus doubling or tripling the paper value of the company.

Fourth, a little bit of knowledge goes a long way. It doesn’t take much to outperform your competitors in business. Like it or not, most business owners do a very poor job of running their businesses. So, I only need to do some basic, commonsense things to totally win in the minds of my customers.

Fifth, you can get 30 days’ credit.

Sixth, you can employ others.

Seventh, once you’ve written the system, you’ve written the system.

The list goes on and on.

In case you hadn’t guessed it, I love business. But most importantly, I love business because it meets my investment rules.

Business grows in capital value, and throws off passive cashflow while still allowing me to draw a wage (if it makes economic and taxation sense).

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For Real Cashflow You Need to be a Business Owner

cashflow-bradblogMost people rely solely on their jobs for their cashflow. Notice I don’t use the word income. You see income seems to imply some level of work or activity involved, and one of the central themes of everything you’ll learn from me is that one of the keys to riches is actually having others do the work for you. By the way, job is just an acronym for “Just over Broke.”

Having a normal job, whether it’s in your own business or someone else’s, severely limits your cashflow capabilities. Here’s why. It’s possible to work only so many hours per day and make so many dollars per hour for your own personal labor. Thus a paycheck can be only for the number of hours you’ve worked multiplied by your hourly rate.

Yes, I know there are a handful of people on the planet who take home million dollar plus pay packets, but they’ve almost always already served 20 or so years at normal wage levels, and secondly, if they stopped working tomorrow, the paycheck stops.

Thus, we need to look for another method of bringing in massive amounts of cashflow. There is only one tool I recommend that you use for creating cashflow in your life-your own business.

Your own business is by far and away the best tool for creating massive cashflow and having someone else do the work. Business is also, as you’ll see later, one of the best ways to develop a large pool of capital with which you can invest in assets.

By the way, am I saying that everyone should quit their jobs and buy their own businesses? To put it bluntly, yes.

Let me make one point very clear: Having a job definitely serves a purpose, in fact two purposes we’ll go through next week, but suffice to say you may not have to quit your job just yet…

So, why should we use our business as a cashflow generator?

There are several reasons and next week we will take a look at some of them…

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Are You Ready For A Change?

change-sameIf you are thinking about starting or buying your own business, odds are you are ready for a big change. If you aren’t, stop considering business ownership now. If your life is comfortable and you like it that way and aren’t ready for the work it takes to take your life to the next level, just stop.

But if you are ready, keep reading.

Not sure? How can you quantify your readiness for this? Reading this blog is certainly one sign you’re ready for something different, but there is a formula you can use to put your desire for change into perspective. Here’s my formula for change:

D x V + F > R

What does that mean?

Your (D) Dissatisfaction times your (V)Vision plus those (F)First Steps you have to take are more than your (R)Resistance. If your resistance is greater than the other factors, you simply won’t be properly invested (mentally) in making your business a success.

Remember, owning a business isn’t a job. It’s a number of jobs and, when starting out, you might not get paid for any of them right away.

That’s where the dissatisfaction of your current position and the vision you have for the future come into play.

Your dissatisfaction has to be so great that change is your best option. You simply can’t go on the way you have. But without vision, your dissatisfaction can be unproductive. Without vision you’ll never have a strong plan or a strong business.

And even if you have a vision, without understanding what the first steps you have to take are, none of that matters. Once those three factors are at a sufficiently high level, change comes almost organically, as part of the natural growth of things.

Nothing in the world would ever change without a certain amount of dissatisfaction, without the vision to make that change and the courage to take the first steps.

Some people simply don’t have that courage. It’s much easier to get the same check, every two weeks, by working a regular job and there’s nothing wrong with that for many people. Sure, you won’t get wealthy, but you won’t go poor and you will always have enough to get by.

If you’re ready to take this journey, you can’t have that attitude. You have to want and be ready to have something more.

If you are safe and comfortable in your life, but want to take this journey it’s time to make some big changes. And what’s even scarier is the fact that you might not consciously think you think that way, but your actions tell another story.

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Here’s Why You Should Embrace Your Mistakes

embrace-your-mistakesThe only reason I know more than most people is that I’ve made more mistakes than most people have. You’ve got to be willing to take some risks and I have always jumped in with both feet whenever I undertake a project.

Why?

Because long ago I learned that to succeed you’re going to have to fail at some point. You’ve got to be willing to fall down, and then get back up. You’ve got to be willing to participate 100 percent at all times and not worry about failure or negative consequences. Everybody fails, but the people who ultimately succeed didn’t let failure stop them.

Think about it this way… Remember back to when you first learned to walk. How many shots at getting up and walking did you give yourself before you called it quits? Did your parents show you how to do it and then say, “Well you’ve fallen down 17 times, that’s it. You’ll never learn to walk. You’ll be a crawler.” Not likely. Instead they supported you until you accomplished your goal, no matter how many times you fell down… and eventually you were walking.

In that case, you kept going until you found a way to get there. If one thing didn’t work, you tried another. You pushed on until you reached your goal. Your will and determination didn’t have this thing called pride, or common sense standing in the way. And the people around you supported you and cheered you on until you reached your goal. You’ll need to remember these things as you strive for sales, marketing, and cashflow success.

The only way you can lose is to stop trying, because every time you make an attempt, you learn another way not to do it.

So commit to yourself to keep trying, if you fail most of the time. In the end, the only way you can fail is to not participate at 100 percent. Take action and participate right now…and if you fail, chalk it up to experience on the path to success.

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Moving Towards Being a Generalist

generalistEducation is a vital part of being successful in any career, but education can also be limiting because what it teaches us isn’t necessarily conducive for entrepreneurial success.

Think about it, when you went to school, what did you learn?

In most western nations, education has not been advanced in decades. The basis of public schools, as we know it, in most nations is based on conformity.

If you are good, do as you are told, turn your work in on time, when you leave school you will be able to get a good job.

Where does this idea come from?

Public education is a relatively new invention, coming around in the mid to late 1800s as a way for nations to build ready for conscription young men who would fight in wars. They learned obedience and how to follow orders. It was and still is a system set up to teach you how NOT to think for yourself.

With the Industrial Revolution, the emphasis switched from teaching students how to be soldiers to teaching them how to be workers. Schooling was all about getting a good job and in those days you might have that job your whole life. And to be properly trained for that lifetime job, you needed to be a specialist.

You can still see it today.

Testing is so important that learning has become secondary. If you can memorize, you are smart. Other people grade you, meaning their opinion is more valid and important than yours.

So what does this mean for you, the budding entrepreneur?

Over the course of your life, most of your schooling and education has taught you to be a specialist, but that is exactly what you can’t be if you hope to become wealthy.

No, you must learn how to be a generalist and that is what I’ve been teaching for years.

You see, as a generalist, you won’t be pigeon-holed in staying at one job, one business or one industry.

When you’re a generalist the world is overflowing with opportunity because you aren’t limiting yourself to just one area or idea.

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Here’s Why You Need a Jockey for Your Business

jockey-brad-blogBy now, you’ve probably heard the ActionCOACH definition of a good business…a profitable, commercial enterprise that works…without you.

So if you are going into business, and you go by the true ActionCOACH definition, you’re going to need to put someone in charge of the day to day activities so you can focus on growing the business. You may think of this person as a manager or some other title, but I call that person “The Jockey”.

Think about it this way, if you’ve ever been to a racetrack, there are many factors that go into deciding which horse to put your money on.

See when I look to invest my money on the horse, do I take a close look at the jockey? Of course. But let’s take it another step. Are there some horses I bet on just because they got a great jockey on them? Yes. Sometimes all that separates a winning horse from a loser is the jockey.

Now when you look at your business, who is going to be the jockey for you?

Of course when you are just getting started, in your first few businesses, you are the jockey, but if you want to make serious wealth, if you want to build a strong business that will provide you with the wealth and time you want, you need to eventually find someone to be your jockey, so you don’t have to spend all of your time in the business.

Remember, you can’t start off as the perfect business owner or entrepreneur. It takes time to rate as a great business person or leader and a big part of being the leader your business needs is finding a good jockey.

So what have you got to become to be willing to hand over the reins of your business to a jockey? You’ve got to study and learn and most importantly, be willing to take Action by focusing on creating cashflow and profits in your business.

Then keep your eyes open for good people, whether they are already in your organization or with another. I’m always on the hunt for good business people and if I find someone working for someone else, I might bring that person in and put him into our management training program.

So, ask yourself, how can I find good people? How can I bring them into my company? How can I build a business that they can then run for me? Where is my winning jockey?

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