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The harsh reality for all of us who lead businesses and organizations is that, at the end of the day, we're responsible for the growth or plateau or decline of our businesses or organizations. Why? Because they're always a direct reflect of us.
So, back to my original question. If you want to grow your business or organization this year, how are you going to change you? Who do you need to become to be the person (in the case of our illustration above) to lead a $1.3M vs. a $1M business (or, even better, to lead a $2M business. Why? Because you need to change ahead of your business).
To make this incredibly practical, here's what I'd recommend. Take out a sheet of paper (or open a mind map on your computer) and put a circle in the middle. In the middle of the circle write, "Who Do I Need to Become to Lead a ______ Business (insert your revenue number for the blank)?
Next, if you want to create change with anything in life, there are only four options (more, less, start, stop). Write these four options out like four spokes on a wheel and then write your answers out from each of the four main spokes. So, what are the four options that form the four main spokes
In these days with the cost of food on the rise, this is an option worth considering. Thank you for sharing this information here.
LeRoy Engle said:
Hey all - my main company has a mission of providing tomorrow's foods at today's prices. Freeze drying has really enhanced overall food quality, texture, taste, and longevity. Shelf life on our products are from between 2 - 25 years with 20 being the most common. After opening - they still have a shelf life of 1-2 years. Not only are they applicable for emergency food storage, but, of such a high quality that we can really "store what we eat and eat what we store". The best thing is that we don't throw away rotten fruit and veggies any more. We only use what we need when we need it. I donate 10% of my sales to the local food bank and the company donates 5% of annual profits to a Thrive international food bank. Some great December sales http://www.shelfreliance.com/leesprep
Hello Francis this is such a great writeup, I believe you should post it as a blog here. Thank you for being a part of Syndication Express. I look forward to getting to know you better.
francis majiga banda said:
As we are about to kick off a new year, how are you feeling? If you're like most of the business people I interact with, you're probably feeling pretty excited. Hey, when you have 360 plus days in front of you, anything is possible.
But, as I've talked with my clients and with others over the past week or so, I've found myself continually asking them one key question, "So, who do you need to become to generate the kinds of results you want?"
Now, why is that question so critical? Because history teaches us that most of us will end this year, similar to last year. Why?
Because we reproduce not what we want, we reproduce who we are.
I don't care what the level of results are that you're getting. You could be generating $250K, $2.5M or $25M worth of results. Whatever that number is, it's a reflection of who you are as the leader of your business.
Let's just pick a $1M business to make this simple. There are a lot of people who have businesses well under $1M a year. The fact that you're at $1M says a lot about you. Chances are you think, act and feel a lot differently than the people who are making $100K per year-and you know that.
Furthermore, let's suppose that you've been hovering around $1M for the past three years. So, what makes you think this year will be any different? Your plan may call for a 15%, 20% or 30% increase (or more), but what makes you think that will happen? The past three years you've set similar goals and nothing has changed. Why?
Because, for good or for bad, everything always flows down from the person at the top of any business or organization. Who you are as a strategist, leader, manager, marketer, and money manager sets the high water mark for your business.
In other words, the key to growing your business faster is to make sure that you're growing you ahead of your business (or organization). In fact, I love the way that Rick Warren puts this (Note: if you don't know Rick he's the author of the multi-million copy best-selling book, The Purpose-Driven Life, and the senior pastor of a 20,000+ per week attendance church in southern CA
i like discussion and shere the experience to the friends
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Aspiring entrepreneurs out there may be wondering if the same could happen for them. They could appear at the incubator’s door, with their idea on the back of a napkin and, a few weeks later, pop out with investor money to burn. The reality is far different.
It’s true that some incubators — which typically offer to ply young companies with resources and contacts in exchange for a share of equity — can boast envious success records. Y Combinator, led by Paul Graham, recently claimed success with 172 companies over seven years, which now have a combined value of $7.78 billion. Founder Institute, led by Adeo Ressi, claims the most graduates, with over 650 companies, and 90 percent of these companies are still running.
But with all of the hoopla over the success of incubator-nurtured startups, one has to wonder: Do incubators beget successful startups or are certain startups destined for success no matter what?
In the same way that students who attend top universities may be predisposed to getting higher paying jobs than those who didn’t go to college at all, one could argue that the really great entrepreneurs don’t need any help from an incubator. They might wind up being even more successful without it.
The rest of us, however, could be the real beneficiaries. Of course, getting into a high-profile incubator is a whole other story. But if you do land a coveted spot, here are several key lessons I assert you can learn from a good incubator:
1. Aptitude-reality check. Adeo Ressi believes his preliminary test of applicants is predicting more and more accurately whether you have the DNA of an entrepreneur, before even being accepted. His tests focus on personality traits alone (ignoring your startup idea), looking for fluid intelligence, openness, and agreeableness. Why spend years struggling and all your money if entrepreneurship is just not your thing?
2. Initial funding. Many incubators do provide seed funding for entrepreneurs selected, usually in small amounts like $10,000 to $20,000, and usually taking 5 percent to 15 percent of your equity in return. This investment can get your startup off the ground in an otherwise impossible financial situation, but should not be viewed as the main reason for joining.
3. Expert mentoring and training. In my view, the quality of incubator leadership is the single biggest potential value provided and learning opportunity for entrepreneurs. Every successful incubator has strong leadership and staff with business and investment credentials. Skip the ones that seem to be offering you space and facilities only.
4. Peer support. In addition to the formal mentoring, the peers you’ll be working alongside at startup incubators provide much more than emotional support. You will find expertise in areas you need, as well as quick advice from entrepreneurs just ahead of you in every phase of the business cycle.
5. Ample resources. Of course, we can’t eliminate the value of affordable office and meeting space, administrative support services and advanced communications technology to struggling entrepreneurs. But don’t believe the myth that incubators are all about ‘cheap rent,’ and avoid business incubators in otherwise vacant buildings.
6. Learn by doing. An incubator allows entrepreneurs to get their ideas out of their mind and out of the classroom, while still retaining a modicum of structure and discipline. That’s as close as possible to real experience, and there is no teacher like experience. It’s an opportunity to succeed or fail fast, with a minimal investment of time and money.
7. Follow-on funding and connections. Success in an incubator means likely access to venture capital and connections to industry gurus and business opportunities. About 80 percent of TechStars start-up graduates go on to raise venture capital or a significant angel-funding round, versus maybe 1 percent of all startups who seek funding.
As a business owner you are most likely very, very good at what you do. However, many small business owners find that they are not very, very good at the day-to-day operations of running the business. At Kimpton Wells Business Consulting we come alongside you and help inject much needed common sense into your business structure.
We are business management consultants specializing in implementing well proven management profitability and organizational improvements. We understand the many challenges facing businesses in today's fast-paced and competitive climate. We understand because many of our associates have owned or currently head-up their own successful business organizations.
Is your business requiring more and more of your time to maintain, much less to grow? Is it becoming your life, rather than your livelihood? Or, are you experiencing declining profits, markets, efficiencies, all of which you have grappled with alone. Have the results of your improvement initiatives proven disappointing in spite of all your efforts? Have you lost your business focus? Are you uncomfortably deep into your bank line of credit, or is your bank lending facility currently becoming overly burdensome? Or is it more serious; has your business declined to the turnaround stage?
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We still wonder how many people realize a PR2 is better than a PR1. PR runs from one to ten with one being the lowest.
I do believe that a lot of people don't realize this Dennis. If you have a PR of 0 then you are not even ranked. Although 2 is good, 5 is great and 10 is awesome because the search engines are loving your content. There is commitment, discipline and work involved to achieve any level of ranking.
I think that if you have any kind of PR (Page Rank) from low to high then you are doing SOMETHING RIGHT On the other hand if there is none then something is missing. .