The theme of this is, are you counting the cost? The things that you're doing today, are you counting the cost? We've got to be honest to ourselves. We've got to count the cost on the things that we've got and here many of you don't want to do that because you'll have to admit that maybe you made a mistake! It's the sunk bias. It's like, I'm in this far, I might as well stay. Well, that's insanity! We can't keep doing that! You've got to count the cost at whatever you're doing.
Topics: Business, Accountability, Business Coaching, Finances, Success, Significance, Priorities, Tips, Commitment, Discipline, Clarity, Decisions, Encouragement, Mastermind Business, Leadership, Guide, Determination, Truth, Evaluation
We won't be able to remember everything. We cannot rely on our memory. That said, we need to have a habit in jotting down our schedules, plans, upcoming activities and even ideas so as we have something as a reference to check the things we need to do or possibly missing.
Topics: Character, Relationships, Success, Significance, Priorities, Tips, Commitment, Consistent, Blueprint, Discipline, Clarity, Development, Self Development, Wisdom, Encourage, Guide, RoadMap, Advice, Vision, Schedule, Obstacles, Evaluation, Personality
I learned yesterday that Google has a technology that could give you up to 1000 mbps upload and download speed. I got 21 mbps in my computer the past 20 plus years and I made it okay. Isn't that fast enough? I started thinking how that relates to our life. We always want bigger, faster better and shinier without even knowing how to use the simple things that we got.
It's the same way in business, we think if we just get over there, then we will be happy. If we just get this, then it will be better.
I want to encourage you not to compare yourself all the time. I do it too, I am guilty. I don't have it all figure out. But I know after almost 40 years of business, I can tell you that we need to learn to be content with who God created us to be. There's always somebody that can do it better, got it bigger, can earn more money, got a better book, got a better website, got a faster upload and download speed! There's always somebody! And if you get into that trap, you will be miserable living your life!
What you got to do is say "Hey I am learning to be content but not complacent!" I think that's what we need to do. Learn to be content at where you are right now. Enjoy the things!
Why do you want to speed up, to be faster, get more, get bigger? When are you going to enjoy? Today! When are you going to enjoy those kids? Today! When are you going to enjoy your spouse's company? Today! It's always later, it's always I will be happy when, with a little more money, with a little more time. Guys, you have to enjoy the day! You need to stop comparing yourself to others! You are enough! What you have today is enough for today. Take your time! Go out! Find your own Station Camp Greenway to hang out on, to meditate, to listen, to praise and worship! Whatever it is, enjoy it!
Stop thinking you got to do it like that guy! Got to be bigger, better, always trying to strive to get just a little more but you fail to see the beautiful sunshine, the good things around you.
I want you to learn to enjoy your life, today! Strive to do things better but learn not to compare yourself to other people. I have to remind myself of that daily. I promise you, if you do that, you will enjoy today much better. Stop wishing for I will be happy when and then. Okay? Listen, enjoy today. Strive to do better but not compare!
Topics: Motivation, Character, Success, Significance, Priorities, Tips, Discipline, Clarity, Wisdom, Encourage, Encouragement, Guide, Advice, Authenticity, Obstacles, Expectation, Belief, Evaluation, Personality
I have had about a dozen partnership over the years of me doing business. Don't let people stop your dreams when they tell you that partnerships don't work. That's not true! If they are carefully planned and structured. There has to be an operating agreement!
Here are some tips and things you need to consider so you can create a great partnership.
1. What is the business evaluation formula if we decide to sell? Deposit/length of time/interest rate/etc ( This should be a price that dissuades the partner to sell, not rewards him)
2. What if one partner develops a competing product? Does this negate the partnership? I suggest a length of time for a no non compete.
Who owns the product and platform if you dissolve? What happens if one partner dies?
3. Do I have first right of refusal if the other partner wants out? Will the same evaluation formula be used? Historically, you are penalized when leaving prematurely. This always encourages the partnership to remain in place. It keeps each partner from plotting an early exit. Keeps everyone honest.
4. If a cash influx is needed from the partners are you agreeing to bring your % equal to your ownership %? How much time is allotted for your contribution? What is the plan if the partner says I don’t have or do not want to contribute additional capital?
5. How will the profits/proceeds be distributed? This is a big concern. I suggest a % be distributed and a % be reinvested back into the business. Don’t establish a dollar amount, it always changes as the business grows.
6. When will profits be distributed? Monthly/Quarterly/Annually?
Your needs will always be different. A formula for distribution of profits needs to be in place regardless of your needs. Never distribute based on needs of the partner, this will cause hardship and confusion. Distribute on a schedule.
7. What is the job role/responsibilities, of each partner? Write them out.
8. What is the process if the partner falls on hard times and wants to sell? Non elected, forced ( Bankruptcy, divorce, health, etc..) Formula for evaluation/terms/first right?
9. Is there a dispute clause if you reach an impasse? Or, majority owner holds the red button? This could be a phased approach. 1. Owners decide 2. Trusted advisors decide ( predetermined) 3. Arbitration
Where will the partnership be incorporated?
10. There should be a vision/mission/core values.
You cover these big topics and your future life will be much better, I promise.
Topics: Business, Accountability, Business Coaching, Balance, Success, Significance, Priorities, Blueprint, Preparation, Discipline, Clarity, Decisions, Crossroads, Wisdom, Encouragement, Guide, RoadMap, Communication, Growth, Perseverance, Execution, Obstacles, Evaluation
Do you have the courage to do self evaluation?
Do you listen to the people that know you best?
Take some time. Do a self evaluation. Then let other people evaluate you, too!
Topics: Life Coaching, Character, Success, Significance, Priorities, Tips, Blueprint, Clarity, Development, Burden, Wisdom, Encourage, Guide, RoadMap, Growth, Advice, Authenticity, Attitude, Expectation, Expectancy, Evaluation
