There is no doubt that entrepreneurs are driven. What we do on a daily basis, many view as insane. We push the limits everyday, take risks, and assume the consequences. Here is a quick question to ponder as we do this. What drives you as an entrepreneur? Last week, I wrote a blog discussing the successful traits of an entrepreneur. It is one thing to possess one or more traits of a successful entrepreneur, yet another to have one of those traits be your motivation.
Last week, I had a good friend ask me what was in my box. He said, if I were to be known for and have one thing that drove me in life and business, what would it be?
What drives us will be our focus, and what our focus is will be our destiny and legacy. Are you focused on people, passion, purpose, or profits? If you were to have only one thing in your business and life you could focus on, which one would it be? Do you believe that focusing on one would allow all the others to follow? Do you believe focusing on one would hinder the other? Be intentional about what you focus on and what is in your box.
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Entrepreneurs face adversity every day. Have you ever been in a conversation with another entrepreneur and it’s clear that both of you are going through a struggle or adversity? Have you ever left this conversation knowing that something should have been talked about that was not? After doing so, did you wonder if you could have helped your peer more, or they could have done the same for you?
As we face adversity, not just as entrepreneurs, but as people, having others to help us navigate the storm is very important. Unfortunately, too many times we cover it up, tough it out, hide the truth, and just don’t plain come clean with whatever it is we are going through.
Want to help another person struggling with adversity? Share first, go first, be first, get vulnerable, first. When one person decides to be brave, drop the walls, share with ultimate vulnerability, it lifts the vail of small talk, and creates an environment to have real conversations about life, love and leadership; conversations that really matter.
Are you willing to go first?
To get caffeinated with me on a weekly basis, click the coffee cup to the right. When you do so, I will send you a free business building tool kit. It is packed full of resources to help you grow and run your business and life with absolute excellence.
Over the years I have coached and spoken to many entrepreneurs surrounding money, debt, and business finance. I remember just over a decade ago, I was massively in debt to the tune of $172,000. I always share the story of climbing out, and the challenge of conquering debt and kicking it in the face.
The reality for many entrepreneurs I speak with is, they are not climbing, conquering or kicking anything in the face. They tell me they feel like they are drowning. They work all day to produce income only to see it get washed away by a current of debt. They swim up towards the light and the surface, only to have another wave come crashing over them to knock them back down, many times below where they began. Not only are they drowning, they are not coming towards to surface to catch any air. Can you relate? Do you feel this way in your life or business surrounding your finances and debt.
As I have coached very successful entrepreneurs, and spent time with self-made people, millionaires, billionaires, here are a few points they have shared about getting to the surface.
- Do you even care to not drown? Many people are drowning in debt and that has become a lifestyle and mindset. Are you okay living this way? If so, the rest of this blog really does not matter. If you are fed up, pissed off, and done being in debt and drowning, keep reading.
- Forget becoming a millionaire for a minute. For now, have a plan to get to the surface. Create a baseline savings, and then pay off all debts except your house. Dave Ramsey would call these ‘Baby Steps 1 and 2’. When you have no savings and all your income is eaten my monthly commitments to unnecessary debt, that is where drowning occurs. When all you want to do is breathe, all that must happen is popping your head above water to grab some air. What is your plan to get to the surface? How long will it take?
- Remember, the swim is one stroke, one penny, one dollar and one small win at a time. If you are 500 feet under water, or $50,000 in debt, you kill that debt $1 at a time. Are you putting one foot in front of the other every day as you attack debt?
- Money is simple. It flows one of two ways. It flows to you, or away from you. If you have more leaving then coming, you lose. More coming than going, you win. Changing your financial snapshot requires creating new habits, wirings, and mindsets surrounding money and how it flows in and out of your life? How does money currently flow in or out of your life?
- As you look forward, look back a little. I encourage you to look back every 6 months to a year to see how far you have come towards the surface. Many times, as you are still drowning, it is easy to forget that you are now only 25 yards away from the surface, not 500. Looking back is important, not to remember the past and the pain, but to see the advancement. When is the last time you have looked back to see how far you have come?
- Label and categorize your financial out-go. Determine if your payments are absolute needs, or only personal wants. Which of these out-gos currently fuel your debt? Is it truly a need?
I hope this inspires and ignites you to own your financial situation with excellence.
To continue to get caffeinated with me on a weekly basis, click on the coffee cup to the right. When you do, I will send you a free business building tool kit. It is packed full of resources to inspire and ignite you to own and run your business and life with absolute excellence.
Leadership matters. Entrepreneurs live in a day and age of business happening at the speed of light. As we run and grow our companies, we can tend to forget one of the most crucial and important elements that allow it to do so. This crucial component is leadership.
Leadership has the ability to become a buzz word, thrown around with other buzzwords like integrity, customer service and value. Leadership means nothing if it is not actually happening in your organization. Here are a few points to consider when it comes to doing leadership, and not just saying it.
- People matter. A business does not grow unless the people in it grow as well. When an entrepreneur learns how to inspire, connect with, get to know, and grow their team members at the heart level, this fosters an environment for leadership. How well do you know your people?
- Purpose matters. As an entrepreneur discovers what makes their people tick, one key element is helping that person define and declare their purpose. There is a saying that you have two birthdays: the day you are born, and the day you discover your purpose. Do you know your team member’s purpose? Do you know yours?
- Trust and time matter. When it comes to fostering an environment of leadership, there must be a mutual level of trust between team members. This does not happen overnight; it takes some time. What are the levels of trust in your organization? Have you spent the proper time to get those levels to desirable?
- Transparency matters. Entrepreneurs and companies with an open door, open books, and 100% transparent policy always seem to win. When there is nothing to hide and everything to share, trust naturally occurs. An environment of full transparency shortens the time it takes for trust to be built. How transparent are you and your organization?
To continue to get caffeinated with me on a weekly basis, click on the coffee cup to the right. When you do, I will send you a free business building tool kit, packed full of resources to help you run, lead, and grow your business with absolute excellence.