Most of you don’t have a time management problem…you have an energy management problem. Let me explain: I recently met a woman at one of my coaching seminars in Calgary who told me the reason why she wasn’t accomplishing more of what she wanted was because she had an issue with time management. I told her, “No, you don’t. I’m so sick of people talking about time management. If one more person tells you to find a better way to balance your schedule, get rid of them.”
Let me tell you something: running a business – a legitimate business – is TOUGH. Those who tell you any different are lying.
For those of us that didn’t grow up in the lap of luxury, the fact is relatively few will ever experience it. Heck, I grew up on a farm & Nebraska and it took unlearning years of an ‘old-school’ mindset around money before I could achieve true wealth.
“It’s safer to start a business than stay in a job.”
Yup, read that one more time.
A lot of people fear jumping into the entrepreneurial world because they don’t feel safe. They don’t feel safe not knowing that their income is guaranteed or that they’ll be able to make reliable income. They fear going out and having to support themselves.
Let me tell you something – having a W-2 job, that’s what’s not safe.
How many of your friends, family members, colleagues, co-workers, classmates or acquaintances have been let go by a company who doesn’t care about them? How many of these people have had their position cut by a company who looks at them as a notch against their budget, instead of a viable asset? How many talented and hard-working people have woken up to an email or call from some higher-up telling them, “Thank you, but your services are no longer needed.”
You see, creating your own cash flow, starting your own business, making your own future – that’s the safest bet!
As an entrepreneur, who else can dictate your future when it lies solely in your hands? Who can fire you? Who can tell you you’re not good enough to work here anymore?
No one – you control the entire playing field.
So, next time you’re thinking about taking that next step into entrepreneurship and your start getting afraid, just remember – it’s more dangerous trying to keep a W-2 job than it is to strap up your boots and create your own cashflow.
Some advice for aspiring entrepreneurs: Take action NOW and stop putting things off until it’s comfortable.
A big problem aspiring & starting entrepreneurs have is underselling themselves.
Too often, we give stuff away for free, just to get people interested. Or we price our services really lowly, just to get some cheap attention. But I’m tellin’ ya, once you start giving stuff away for free or severely underpricing yourself, you’re hurting yourself AND your client.
Because, think about it from the client’s shoes: When you get something for free or really cheap, you’re much less likely to value it. But when you pay good money for something, you’re more likely to value it and follow through with it?
So, the lesson here is to price yourself what your worth. Price your services and products what they’re worth because when you’re playing the ‘low price’ game, both sides lose.
In my years of business coaching and mentoring, my primary passion has been building generational wealth and a legacy of wealth within families and communities. This means changing the global conversation about money, how it’s created, and how to start the education at a much younger age. Face it, most education is focused on industrial age models of “getting a job” rather than creating a big vision.
Because of this passion, I’m often asked what types of investments parents should be making for their children. Particularly, what is the best thing that you can do for your child’s financial future?
My answer is different than most you might hear in traditional financial circles.
NEVER PAY YOUR KIDS AN ALLOWANCE.
The best investment you can give your child is to teach them the value of entrepreneurship and the way that every economy in the world works. Instead of paying your child an allowance, design exercises and practices that are truly focused on basic finance.
One way you might do this is to sit down with your child and organize some basic household tasks or chores such as doing the dishes or cleaning the table. Work with them to assign a value for each one of these tasks. Each week as they complete the tasks, pay them the amount minus a small percentage that goes into a savings account specifically for them. This deduction functions a lot like taxes or accounts they’d have in the real world.
As your children get older, add a bit more to this model, including how to manage a bank account, expenses that might make sense given their age, or things that they’d want to buy.
Why do it this way? Not only does your child learn the importance of how economy works, but they also understand the value of their own work and services. The training and influence to focus on traditional education and the “job model” can be changed in just two generations with the right shift in conversation.
You all know how serious I like to be about business – I’m known around my circles for being all business, straight to the point, with no fluff.
But, I also have my loose side.
You shouldn’t be surprised when you see me sipping wine during big events, cracking jokes during serious times, or wearing jeans to formal occasions – that’s just who I am and who I’ll be.
So, in the spirit of fun, I want to give you a little more insight on me away from it all. So I’m going to take Sundays to share some funny stories with you that have happened to me (believe me, there’s always a ton). Anything and everything from being high off pain medication, to falling off the sides of mountains while skiing, to spilling wine all over myself at events, to sneezing up water through my nose during a big conference, to tripping on the way out of my private airplane…
Yeah, tons of that stuff LOL.
And I want you to share funny stories with me too! Stay tuned… 😉
I get this question ALL of the time: “After 20-plus years of doing what you do, how do still bring your passion and fire EVERY SINGLE DAY?!”
If you haven’t met me before, you should know that I’m quite the fireball LOL. If you have met me before, you know I’m very passionate about what I do and I bring a strong personality every single day. This is a result of me being able to stay greatly motivated throughout the years…
Now, whether you’re a new entrepreneur or you have years of experience building and running new businesses, you’re going to have times when you feel unmotivated. You’re going to feel like you just can’t do it, or you’ll feel like it can all wait until tomorrow. You’ll find yourself spending hours on Facebook instead of getting the work you need to do done.
Somewhere in the back of your head, you know that you have deadlines approaching. They may not be set in stone, but if you put them off long enough, you will have major problems. If you take 6 months to write your business plan before you approach investors, someone else is likely to have a similar idea to yours and jump in ahead of you.
So how can you keep yourself motivated when all you want to do is watch cat videos and take a nap? Try these tricks, and you should find yourself motivated and driven to get it all done and then some.
How’s Your To-Do List Looking?
To-do lists are incredibly useful. They make us feel like we’re really getting things done. Just making a to-do list and crossing things off can give you a motivational boost, but what if you already have a to-do list, and it’s not really helping you? Well, what have you written down to do today?
If your list looks something like:
- Write business plan
- Found the next Apple
…then it needs a little work. Your plan is too vague. Writing a business plan is a big undertaking, not to mention founding a Fortune 500 company. If this is your to-do list for the day, you’re only going to be able to cross off one item. The other two are going to sit there staring at you for a long time. Instead, why not write something like this?
- Get someone to do your laundry
- Write business plan introduction
- Brainstorm*/ business strategies
- Write company mission
Breaking up your big tasks into smaller tasks that you can check off your list will get you to your goals a lot faster than staring at a seemingly insurmountable, giant task all day and doing nothing.
Incorporate Breaks Into Your Day
It can be hard to take time off for yourself, especially when you work from home. However, think about your workday when you worked in an office. You had scheduled morning and afternoon breaks, as well as a lunch break. When you take the time to step away from your desk, you give yourself time to clear your mind and rest your eyes for a moment.
Just taking a 5-minute break every 25-30 minutes can increase your productivity immensely. After all, you’ll be a lot less likely to check your phone or log into Facebook while you’re working if you know you have designated break time to do that in just a few minutes.
And make yourself take a good, solid lunch break. You may feel like you haven’t gotten enough done to justify a break, but your productivity is not going to increase by sitting in your chair, wishing you could eat lunch. You can’t help that your morning was slow, but you can take a step back and come back with fresh eyes for a better afternoon after lunch.
If you were trying to lose weight, your coach and doctor would advise you to include your friends and family in your efforts. They would tell you to build a support network and use it whenever you feel down or discouraged.
You can do the same thing for your business ventures. Whenever you feel unmotivated, call someone you know who can help talk you through your rough patch and help you get driven again.