Jul 28
Do you like to travel?
Where do you want to travel next?
What is stopping you getting there in the next 12 months?
How can you remove those obstacles?
What’s the worst that could happen?
What’s the most amazing thing that could happen?
Go and buy yourself a ticket. This week. I dare you!
Jul 28
I learned something amazing this week! They don’t need me.
I know that we all want to be needed (especially at our our businesses) but isn’t it better that we aren’t? I mean, who actually wants to have to go to work? Wouldn’t we all rather go to work because we want to rather than have to?
Last week I was interstate undertaking training. This week I’ve been struck down with tonsilitis. Two amazing reasons not to go to work. And what has happened? The business made more sales in these last few days that ever before over a similar period. A great result.
Now, I am going to take some credit. I designed the systems (not all by myself). The thing is without me in the background tinkering away the systems were allowed to run free and magic happened.
So, my question to you is: can you get more from your business by making yourself redundant?
My son is almost 14 months old. I have noticed a lot in those 14 months but one thing that always strikes me as amazing is his absolutely single-mindedness. If he is intent on climbing upon a table or finding a particular toy, he will apply himself completely and no distractions will stop him. He won’t notice if you poke him or call him or present another toy. if he’s on the path to something, no obstacles will stop him.
We – as entrepreneurs – could learn a lot from this approach. Once we set our minds to something we should not let anything stop us from achieving that aomething. Managers, workers, anyone can learn from this. Remove distractions or ignore them.
Jul 14
Cash is king!
In small business you have to know every single detail about your cash situation. Understanding profit and loss statements, your general ledger, debtors, creditors, ageing etc. etc. is all well and good but none are nearly as important as cash.
Many a “profitable” business has failed due to lack of cash. Don’t be fooled by the reports that your bookkeeper, accountant or software provides you. They may not tell the whole truth. Accounting is just a way to represent the business from a certain perspective it is not all encompassing.
Before you get terribly excited by all the groovy accounting tricks you can use be sure that you know how much cash is coming in and how much is going out every day, week, month and year. Be sure you know how much cash you have that is immediately accessible.
It’s worth saying again: cash is king!
Jul 9
I’ve worked out over the past few months that the only thing that I actually worry about is money. And I know I’m not alone.
When you break it down there are so few things that we actually really worry about. If you think about your worries I expect you’ll find out that 80% or more are related to money.
The silly thing is that there is heaps of money about. It’s just that you don’t ever seem to have enough of it.
I remember when I was at uni. I earned about $6000 for the whole year in 1995. And amazingly, I was able to go out on the turps, buy piles of CDs and generally have a good time. And I even saved a few dollars. (Yes, I did get a Government allowance too.)
Fast forward a few years I’m earning over $40K as a software developer and I seem to have less money to use freely. What the?
Sound familiar?
Perhaps the problem is spending rather than earning. Perhaps we are too keen to have everything now. Perhaps we really do have enough money and too many wants.
So, what to do? Delay gratification. Earn now, spend later.
And stop worrying damn it!
(I promise I am trying to follow this advice too!)
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