I have a saying I love and my wife hates, “clarity leads to power.” Not that you’re trying to achieve world domination….well, maybe you are. Let’s just say I’m not trying to take over the world. I just want to know if I’m doing the right thing.
I’m amazed at the number of business owners who think the only statement they have to pay attention to is their profit and loss statement. I’m hoping that you’re not one of them.
I know that I spend way too much time doing and too little time preparing. Too often I just start doing stuff before even thinking about what I want to do, much less actually preparing for it.
I hope the answer to this question is yes. I know Suzanne has the most to lose if I decide to make a really boneheaded move. She might not have the same technical knowledge as others. At the same time she is more likely to ask me tough questions I need to answer.
Retirement is one of the biggest changes you’re ever going to make. Too often I see people retire, then wish they never did it. They’ve not thought through some of the changes that are likely to happen. You don’t want to be part of that group. Instead, be smart and think about retirement in a way that’s going to have you prepared when the big day comes. Here are 6 things to think about:
I’m not talking literally. I’m thinking about mind space in your customers’ eyes.
I bet you want to be top of mind. I bet you would like your product or service be the first thing a customer or potential customer thinks about in your product category.
I have a problem, I often spend time in the past. I think about things that went wrong and what I could have done to change them. OK, I have to admit it I don’t just think about these things, I obsess about them. Especially when I didn’t like the outcome.
At the same time I like to day dream about the future. I like to think about all of the great things that are going to happen.
No, I’m not saying is your business going to be sold tomorrow. I’m assuming it’s not. I’m asking whether your business is sale ready. Sale ready is when your business could be sold but you’re not interested at this time.
A sale ready business is when you’ve become operationally irrelevant.
Economist always wonder why investors aren’t rational about their investments. They act as if the world is rational and humans make rational decisions. If you pay any attention to people around you, you know this isn’t true.
One of the most dangerous activities you can do is what’s called confirmation bias. This means that whatever has happened in the recent past will continue in the future.
I’m lucky. I’ve had the chance to learn from some of the best minds in the country. Sometimes I’ve found these people through industry connections, sometimes through classes and sometimes it’s been through books.
How I started my quest.