Salespeople Have A Thermostat

If a salesperson has been getting a commission of approximately $50,000, then he/she won't make much more than that next year. The good thing for entrepreneurs is that the salesperson is unlikely to sell less the next year. Earning Temperature Think about the thermostat that controls the temperature in your home. If you set the thermostat for 70℉/21℃ in the winter, then anytime the temperature goes a degree below 70 degrees, the furnace will turn…

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Entrepreneurship To The Fullest

Entrepreneurs have: unlimited income potential, able to fire themselves, and can sell the company, in part or in whole. I've worked with hundreds of entrepreneurs, and known many hundreds more, that don't even come close to maximizing these inherent qualities of business ownership. You Have Unlimited Income Potential Let's start with #1: unlimited income potential. I think too many focus on the potential, but don't really learn how to it into reality. If you haven't…

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Focus On Productivity: The Art Of Being A Better Laborer

Following on from yesterday's post, "Do You Prevent Your Business From Accelerating?"' I listened to the accompanying TMBA podcast episode on the topic. Listen here: The Art Of Stress-free Productivity. Understand this: Productivity is for employees. Effectiveness is for executives. Success Equals Busy? The thinking goes, successful people are more productive than less successful people, so therefore I should focus on getting lots of stuff done. This is true, but its correlation and not the…

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Do You Prevent Your Business From Accelerating?

Self-Imposed Speed Limits When I left the military and moved across the country, I rented a Uhaul truck to move all my stuff. The super-frustrating thing about this truck was that it had a governor installed. An accelerator governor prevents the vehicle from going faster than a pre-determined speed. The national speed limit was 65 miles per hour, but the governor was locked at 60 mph (96.5 kph). Many business owners install governors in their…

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5 Lessons In The Mental Game Of Business

A Weekend At Tim's I recently held the first of the biannual, in-person, weekend workshops with my Ignite Mastermind. Since we're a small group I rented a big house in Scottsdale, Arizona instead of a hotel. From 1pm on Friday until about 1pm on Sunday, we worked. It's fun doing these workshops because when you get people together who are excited about growing their businesses, spending their entire weekend working is fun. Fun...not my word. Theirs.…

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All Businesses Are Built Haphazardly

A Lesson From The Ignite Mastermind Weekend Workshop One of the big philosophical realizations one must comprehend is that everyone is just trying to figure everything out as they go along in life. Businesses are no different. How could they be? They are built by people. As soon as you realize that you built your business in a haphazard, trial-and-error fashion, you can improve it. You then understand that no current process, no particular way of doing…

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Why Is Hiring So Frickin’ Hard?

This is a raw sample chapter for my upcoming book, Leader: The CEO Manual For Entrepreneurs. Hire For Your Core "What job(s) should I hire for first (next)?" I'll attempt to explain why that question is so difficult to answer for founders and how to solve it. Here are several of the key issues I see with my clients: competing priorities unclear vision for the company / vague plan no or little money (more a…

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7 Hard-Learned Investing Rules For Early Stage Businesses

Set Them; Never Break Them During the DotCom era, I took up day trading. It seemed fun and exciting and a great learning opportunity. It was all those things and it was draining. I learned that I liked to gamble. I liked the highs of winning a bet on a stock. I also learned that I hated to lose. It would send me into an emotional low. I eventually quit doing it right before the…

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Instilling New Values Into Your Business

"Real solutions have two parts: changes in values and operational changes in habits and processes." ~ Charles Hugh Smith This quote encapsulates the work I do with entrepreneurs. Founders come to business coaching because they've had, or desire a change in values (i.e. they wanted "freedom" - the desired value, but instead their hidden values built a business that imprisons them). To define and instill new values, entrepreneurs must change their behavior -- they must forego…

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Content Marketing Is Full Funnel

An Eye-Opening Lesson One of my favorite lessons learned at MicroConf in Las Vegas last week was from Russ Henneberry of Digital Marketer. There are 4 parts to successful content marketing: 1) AWARE 2) EVALUATE 3) CONVERT 4) COMMIT   My Content Funnel Wasn't Full It was interesting to see where my content was falling short in each of these 4 parts. The main reason my content isn't a powerful marketing machine is that I…

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