Posts Tagged ‘BusinessExperience’

What is the ultimate goal? Have you truly given it the necessary thought? What are you putting into your business?
These are questions that need immediate addressing. You must know where you are going and what you’re doing.

I know what I’m in and where it’s all going. I am not simply running my own business… I have a plethora of projects and operations I have going on presently… I am building an empire. I will settle for nothing less.

Be prepared for your future and know what that future is. Create your own fate.
Decide where it is all going and begin speaking it… to your friends and family… blast it all over social media. This isn’t one of those ‘be positive and just speak it into existence’ situations. What I am referring to is accountability. You start telling everyone and speaking it over and over again… Well, now you’ve got to follow through with it. No excuses or backing down. You spoke it… make it happen. People will begin to check in on you, reminding you that you’re not yet there or giving you that confirmation that you’re on the right track. Make your vision a reality, and then make that reality grow.

There is a reason that not everyone runs their own business and works for themselves… This is America, the land of the free… the land of opportunity… No one is prohibited from doing this, but not everyone is cut out for it. Don’t be one of the many who think they are; know that you are. You can’t go into this halfcocked. You must know and believe in your goals and your mission. Set the standard for what you’re doing, how you will get it done, and then exceed that and then some. If you want to reach the true heights of your potential, you’ve got to be all in. You must fully commit.

Put no limits on the time in which you are going to put into your work; break down any boundaries that may stand in the way of your success. Know now that your future is in your hands and let no one tell you otherwise. You have got to be in control and be the driving force that carries your business to that next level. Let nothing stand in the way and get it done already.

I want to be able to help you reach your potential and get the success you’ve always dreamed of. You are capable of building something great… if you are willing to put in the work.

So, step it up… Get Cocky…

If I am going to help you, all I want is everything you’ve got.

You know you’ve heard the phrase before… “the struggle is real” … We hear this all the time. You see it again and again in hash tags across social media; it is used to refer to so many different struggles… being a parent, making ends meet, work, fitness, weight loss, just life and the everyday balance of everything.

When people see this hash tag, they get one ‘Like’ after another as if people feel as though they are a part of something. Are they really? There is this false sense of psychological confirmation that you aren’t alone because others agree they feel the same struggle. This is classic enabling although they won’t see it that way. They believe in the struggle; again, it’s real. (sometimes you see this hashtag and aren’t compelled to click ‘Like’, instead you almost laugh)

You will sometimes even see supposed entrepreneurs hash tag this phrase when referring to their daily hustle… I say supposed entrepreneurs because with social media these days, anyone can give themselves whatever title they want on their multitude of profiles; it is meaningless if you haven’t earned the right to claim such status. They haven’t sold anything, closed any deals, they have no legit company or business to speak of, yet they claim they are an entrepreneur and their struggle is real… I suppose they may really be struggling to find where they are going and what they are doing. Maybe they should step back and figure out if this is truly the path for them. I am a firm believer that everyone has something to offer, and if you desire to be your own boss, you need to figure out how to make it a reality. Some people don’t have the ambition or the drive to be their own boss and that is okay…

Those of you who are determined that this is the life for you, good for you. Now, lace your J’s and eat your Wheaties… It’s time to Get Cocky and get it done. In the world of entrepreneurism there is no room for weakness or whining. We do not shy away from a challenge or complain about the obstacles we find standing in our way. In life and in business, you have to find yourself doing what you love… There will be times when you are doing things you don’t, but it is all in efforts of getting to that place that you do love.

I have a good friend, Greg, who I refer to as G-Money because this guy is ‘all money’ all the time… he just has it all together. This is a man who is married with two teenage boys whom he is heavily involved in their daily activities. He is a great dad, a hard worker who never complains when extra things are laid on his desk, very much a team player. He’s an incredible bassist, singer and front man to a successful band that gigs regularly, sometimes a couple times a week. Moreover, he keeps himself in top physical condition always. He keeps his game tight. Most of us know a person or two that just seems to have it all together. Truth is that nobody has it all together; things are never perfect even when they seem as though they are. The big difference between your friends that got their game tight and the ones that continue to speak of the struggle is happiness. My man, Greg, is happy; he loves his wife and boys, enjoys his job, his band, his workout. He enjoys how he feels and what he’s doing even though he faces challenges all the time just like anyone else. He doesn’t look at the challenges as struggle; he just faces it and gets it done. Like I said, the man is just all money all the time; he isn’t stifled by nonsense.

If you aren’t wired to be that way, you can learn… but learn fast. You’re on your way.

Trials and tribulation may come your way, but we, the gladiators, never refer to what we do as the ‘struggle’. We own the day and the issues that come our way.

There is no struggle… only hustle.

We have all made different choices in life, and you will not hear me claim that one is better than the other or that one is ‘right’ when it comes to life choices…

Some have chosen to get started building their company when they were younger and before they had a family… they have the freedom to be on the hustle for fourteen hours a day and get it done. They can better take advantage of their opportunities without having to give thought to other things…their friends and family will support them and understand the time they must stay moving and grinding because of the business they are growing.

Now some of us started a family young or just realized we wanted to own our own business later in life. Now, whatever your path (trust me, they are all different and there isn’t a right way…although there are some wrong ways) there is a way to make it work and get your business going. The biggest obstacle that you may face oddly enough is balance… You need to remember that although you are doing something big for your family by developing this company, you can not neglect time with them to get where you’re going. This can be incredibly difficult.

You are going to feel at times that you just need a little more time to get this one thing done; before you know it, someone else is trying to contact you; a client, customer, investor, contractor. That ‘little more time’ turned into a lot more. You are going to have to be able to set proper boundaries and hold firm to them, so others don’t monopolize your time. Not only is it the right thing to do to continue to be available to your family because your family needs you, you will also need their support in order to get where you’re going. Y’all are a family and must work together to develop this company and grow it to the level you desire.

No matter how much you try to prepare for this, it will inevitably get away from you. You’re human and it happens. Even when you are working for someone else, it is easy to get wrapped up in something and miss a little family time… It is even harder to prevent that from happening when it is your company, and you are working diligently to grow it. You must keep things in perspective and be know now at times you will get lost in your work. Be aware of this and never stop making efforts to be present for your family. You will get lost in work from time to time but be sure they know your situation and know what you’re working towards.

If you make efforts to keep the family involved and in the know of what is going on, they can be more understanding and less likely to feel as though they have been pushed aside for your new business venture. You never want them to feel that your ambition is priority over them, and you never want to get to the point that you feel they are in the way of your ambition…. Communication is key.

Be sure to communicate your goals and expectations while including some time designated for the fam… You need to control this delicate balance. They will help you thrive and you will reach the heights you desperately seek.

In the business of running your own company, you must remember that everything rests on your shoulders. When you are developing your company, there is only you. As your company grows and thrives, there may be more than just you, but it will always rest on you. You are responsible for everything that is happening in your company and everything that others do on behalf of your company. You must keep these things in perspective when you put others in a position responsible for getting things done… you are still responsible for them and for what they accomplish.

This is your business… this is your future and know that the things that will be thrown at you or sometimes dropped right on top of you may not be easily predictable. You will try to prepare for the things that can and will inevitably go wrong and the obstacles you will face, but you will get surprised again and again…

No matter what you are faced with, remember there is always things to be done, moves to be made. Things may even seem bleak at some points… I have owned multiple businesses that have failed… or just fizzled… some because of partnerships that went sideways, some because wrong decisions were made, and others… well that is the nature of business. There is timing and marketing… right place and right time. There are so many factors that come into play and sometimes you just can’t clearly pinpoint what has gone wrong.

You have got to be calculated in the moves you make. Be sure you know what you’re getting into, where you are going, why you’re doing it, and do you honestly believe in it. You have got to weigh all the factors that go into what you are developing. Is this a viable business? Is it the right marketplace? Do you know how to market it? Is this something you can do on your own or do you need partner or assistance getting it going or maintaining it? There are so many things that need to be contemplated.

Many people fall into an idea, or it falls into them…

Even when you feel you have given everything careful consideration, life happens, and twists and turns are bound to hit you and your business. Roll with the punches. You will get through it… Just as you contemplated all the risks and options before your company jumped off the ground, you must weigh in on all these again when problems arise, or you feel things are crumbling around you. You can’t hang it up so easily, but you mustn’t continue fighting a fight that is futile. You have got to know that you are fighting a fight worth fighting for or cut your losses at the opportune moment. If it comes to that, and you must hang it up; this isn’t the end. You move on to the next project; you live to fight another day. These things happen; do not allow them to cause discouragement as this will only stifle your productivity on your next big thing…

No matter what comes or how bad it may seem, you are in the drivers’ seat. It’s up to you if you get where you’re going.

Get Cocky. And own it…

To you, the young entrepreneur… to be clear, young is not at all about age; it is about experience in the game. How much time have you put in? Have you put in the work? Reality is, it is more about the status of your company than the actual time in which you have put in. Don’t get it twisted… time and efforts are important, but for today’s discussion, we are focusing on people’s idea of Saturday.

To a young entrepreneur with proper drive and motivation, a Saturday means nothing more than the sixth day of the week… too bad for those who think the week only has five days in which you can work, earn, and grow. Five days…? Who are you clowning? You have a company that you are trying to grow; how can you take a weekend to rest? How does Friday or Saturday become a day to party? You feel as though you have worked a long week… you’re tired… you deserve a break…
“I’m in a good spot and will pick back up on Monday,” you say as you text your homies to figure out where the hot spot is tonight.

Truth is, you have not yet earned that privilege. You have to get there… You have to put in the work and earn that time off. If I am having to tell you this, you have the wrong perspective…

If you want to reach the height of your true potential, you must be committed to getting it done. You have no time to be wasting at this stage in the game. You have your whole life to party and enjoy a day off. Get there first… Earn it!

For the avid entrepreneur, fully joy, and eager to get it going, they need not be reminded to get back to work. You are a soldier fighting for something… fighting for financial freedom, to break the chains of conventional society that says normal is a 9-5 Monday through Friday job, and ultimately find true independence in one’s skills and abilities to market said skills. This is where you are going… you can not lay down and give up the fight until you have fought and won.

“I firmly believe that any man’s finest hour, the greatest fulfillment of all that he holds dear, is that moment when he has worked his heart out in a good cause and lies exhausted on the field of battle – victorious.” – Vince Lombardi

The great Vince Lombardi could not have said it any better… These words speak volumes when referring to football, life, and even business. If you want to win, win.

You don’t take a day off until you win. Get there already and earn that day off.

You’re on your way and believe me that day off is going to feel great when you know that things are running smooth in your business and you can truly embrace your time off.

We talked before about the people who can’t seem to get themselves paid from their business… now, we are going to talk about the people who seem to get paid to much based on their business… It is another one of those situations that almost doesn’t seem to be real until you see it happening…

Okay, so as a young company grows, it begins to gain leverage especially the more potential in success that it is showing. I was working contract labor for a company that was incredible, and they were on the verge of serious growth. They had assets and contracts for new projects which gave them more leverage for more growth. The idea is that with more contracts signed and guaranteed, although they have yet to be paid out or paid in full, you can leverage those contracts for bank draws which gets you more cash in hand now to handle all the things you need to handle to get said projects done. They had multiple different kinds of projects that were in the works which is great because this company was growing it was an amazing thing to see happen. Their expenses kept them in the red so frequently, but the president and vice president of the company were making huge salaries. Now if they would’ve decided to take smaller salaries to keep their business out of the red or at least closer to the black, this would’ve been very beneficial to the growth of their company. Their company would have also looked much better on paper than it did at times. As mentioned before, this company was growing and looking great but what little people knew was they lived in the red far more often than they needed to.

I worked contract labor with another small company that was not nearly on the same level but frequently had problems having his company live in the red because he just wouldn’t manage it properly. The owner of this company was bringing in lots of revenue, but he was one of those owners that didn’t set a specific salary for himself, rather he just took what he needed from the business account whenever he wanted to. When business expenses came up, he would prioritize what he felt was important. He would frequently take care of personal stuff or family stuff right out of this account as well… when a business expense bill came due, and he felt it was excessive, he would not dispute it; he would just disregard it and not pay it. He always said he would find another way to get the job done… open a new line of credit elsewhere or something. His business destroyed his credit even though he was making more than enough to rebuild and perfect his credit. He just allowed things to go unpaid and fall behind. It was sad to watch as I knew the man had so much potential; he would be owning his business if he just ran it better.

Then you take a man like Steve Jobs who is widely accepted as one of the great success stories of our time… no one disputes that. For those who do not know, Steve Jobs was voted out of Apple by his board members. When he was later requested to come back to the company as CEO, he accepted a mere $1 a year salary along with shares in the stock of the company. He believed in his company so much that he knew he would make more money by taking stock instead of cash and he wanted everyone else in the company to see how much he believed and cared about this company. He was not wrong either. When he came back to the company, shares were $3.19 and grew to $365 when he retired fifteen years later. His company was obviously more developed already as it was be traded on the US stock market… but the principle still stands. He was going to put into his company and fight for his company. He wasn’t going to take what he had yet to earn.

The idea is that you should not be taking from your company what it doesn’t have. You do need to get paid… That is a reasonable thing. But you must be smart about things. Especially when your company is still a young and growing…. No matter how successful it is right off the jump, be mindful that there is a balance to how you should be doing things and managing the financials. You do not have the right to take from your company… You have to earn the right to get paid… so get there… get that money flowing in. Once you have put in the work and your company is rollin’ and growin’, then it is time to get yours. It will happen in time if you put in the work. Don’t be over eager or greedy… there will be time to get paid.

This is a real thing that is overlooked with new to the game entrepreneurs. It seems in my experience many fall into this rhythm of neglecting their own salary. When you launch a company, there is this period in which you are giving all you’ve got to the business and taking nothing because it is more important to grow and develop the business and be sure it is fruitful before you begin to pick your piece. But that is that… a period, a moment… if you get your business up and running and thriving, then it is a brief time… You grow and develop and then you get paid.

When you neglect to set these things right in a reasonable time period, it gets to the point where it can get away from you. You can end up working for your business, never having your business work for you.

I ran a business years ago with a partner and we just couldn’t quite get to the level we wanted to be at; we had this idea that if we just kept pouring all the money back into the business, we would get it to grow… Truth was that the business was doing well but not nearly reaching it’s potential. Because we weren’t paying ourselves a wage or salary, we had to continue to keep jobs and work contract labor and have other side hustles to keep money in our pockets. We would get big payouts and pay some bills and then put the rest back into the business. Then we kept our feet moving trying to keep up with other hustles and contract labor here and there. Looking back, we learned that the fact was that we should have left some money in our pockets and not put everything back into the business. We should’ve had a little left in our pockets for us to live…then we would not have needed to hustle for extra cash elsewhere; this would have given us much more time and opportunity to capitalize on the business we had growing and help it to be much more productive. It is an incredibly delicate balance.

I’ve learned a lot from my experiences. This is something that is hard to understand completely by most until you are actually in it. So many have the right idea by focusing on the investment into their business opposed to allowing pride or greed get in the way. Again, there is a balance to this… Although their heart is in the right place, all things in business need be driven with mindful calculations. I say calculations with firm emphasis because although there isn’t an algorithm that you can plug it into, it is very mindful calculations. You must be sure that there is money being put into your business so it can be fueled and grow… but you must be sure to keep something in your pocket to live on. When you keep just enough to live on, then you can invest the rest back into the business. In doing this, you create a freedom in your life and schedule to be able to focus your time and energy on promoting, advertising, and even research to continue growing your business. By putting it all back into your business, you must continue spreading yourself thin by earning living expenses elsewhere which cases the business to suffer.

Hopefully you have found this helpful, so you can get your cash flowing in the necessary directions to keep your business growing and the cash flow moving. This will help you get to the level you desire where you will one day no longer being taking living expenses but a significant salary and one day even invest into new areas. You will then get the financial stability and even more beautiful the financial freedom you deserve to have in your life.

Stay focused… you’ll get there. Get Cocky.

Failure is truly a part of success… With success, comes failure.

Do not allow failure to be a deterrent nor a discouragement. You need not feel any type of way about a failure other than motivated.

Motivation should be significantly boosted by failure. Sometimes these failures can be traced back to things you should have seen and done differently; other times, things can be out of your control. At the end of the day, learn. That’s it… learn. You must learn from failure. Embrace it. Accept it. Learn from it. I have literally owned five businesses that have failed before I began Bayless Enterprises and Bayless Bookkeeping with my wife. We are presently running two successful businesses which is awesome, but again I watched five fail… and that doesn’t even include the multiple that I had friends and colleagues trying to launch. I had multiple people approach me with good ideas and wanted to get some things going. Ultimately things fizzled, and we went our separate ways for one reason or another.

Let’s tackle the concept of ‘Owning Your Failures’. What do I mean by that?

You must take responsibility for your failures. You are responsible… you own them. People tend to want to absolve themselves of the responsibility of shortcomings or failures… This happens in both life and business, and in both it is problematic.

When it comes to your business, you must be in more control… This is your business, your company… You are responsible for all that happens. Too many try to run from this because they don’t want to be responsible for the failures; this is not the path for them… You can’t handle responsibility, you are not meant to be an entrepreneur. You can’t face the potential and sometimes inevitable failure; you aren’t an entrepreneur. Get it together and find a new path.

For those still with me, step up already and take responsibility. All of it falls on you regardless…

View this from the proper perspective; this empowers you to be in control. When you are responsible, you have the power and ability to make changes. With the power to change, you can take the company in new directions. You learn, grow, and make changes.

Do not fear failure; it happens. Own your failures, so you stay in control of your business.

This is your business… your company… be in control… own it… Get Cocky.

Are you truly in this?… or does it just sound like a good idea to be your own boss?

Truth is, of course it sounds good to be your own boss, but sounding good isn’t enough. Being an entrepreneur is not easy; it is a huge undertaking. You must be prepared to give all you’ve got into this. Are you ready for that?

If you’re not absolutely 100 and ready to give it your all, then it is only going to cause you more problems.

Same thing applies when it is a new idea that has been brought to you or one you’ve discovered. No matter how good it may sound, do not get involved unless it is something you truly have a desire to be involved with. You will lack the drive that is needed, and the business or project will ultimately suffer and in turn so will you.

I am an experienced entrepreneur that knows a few things about getting a business off the ground and running a successful business… and I will be the first to tell you that there are so many other experienced business coaches and entrepreneurs out there. Many of them teach similar principles to the ones I teach and many of them would teach you differently. Ultimately it doesn’t matter… what none of them can teach is passion and desire. No one can teach you to be passionate about your work or teach you to have a desire for something… Desire is something that is engrained in who you are… If this isn’t for you, it doesn’t matter how many blogs you read, books you acquire on your shelf or seminars you attend… We can’t teach you to desire your business. Either you do or you don’t.

You got to figure that one out for yourself and be sure you are on the right path. Do not waste time and money chasing the wrong unicorn.

We are all capable of learning so much but not desire… I can’t stress that enough… Know yourself, know your limits, know where you are going and where you should be… Don’t get in over your head in something you don’t want to be doing. There are many people who claim to be entrepreneurs who have yet to accomplish anything and many who call themselves entrepreneurs but don’t really have any passion for it. If it isn’t for you, find what is.

If you are going to be an entrepreneur… I mean a real entrepreneur than you have to commit fully. You’ve got to go all in with all you’ve got.

Again I leave you with two words… Get Cocky.

The great influencer and business teacher, Dan Lok, once said you cannot manage time; you can only manage your priorities. This could not be any truer, yet we don’t often think of it in this manner. We tend to rush around trying to get things done as if somehow it will make a difference that we are moving faster, that somehow there will be enough time…let me tell you, there won’t. Your time is limited. You only have sixty minutes in an hour and only twenty-four hours in the day… you’ve got deadlines and only so many days before you hit them…
The key is not to try to manage the time but to better manage your tasks… You must get a handle on the many things you have to get done. Trust me, it is so easy to lose track of what you are doing when you are trying to get done so much. Or even just get lost in one task for too long. You must manage your tasks and get control of what you need to accomplish.
If you were working for someone and paid an hourly wage, you would have tasks that need to be accomplished at certain times. It would be important to your supervisor that you met these goals on time; if not, there would be consequences.
You need to remember that although you are going to be putting so much more into your business because it is yours, and it needs you, you must keep things in perspective. You need to set goals and deadlines for yourself. You must prioritize the things that you need to get done.
This can seem overwhelming at first because you are growing a business, and everything seems to be important… start by making a list of all the things you feel need to get done this week and then begin labeling them based on the day they should be done. You have to consider their priority level in addition to the other things you want to accomplish in a given day to be most efficient in organizing them by day. Then map out your day; set an allotted amount of time for each given task… and be reasonable. Don’t give yourself too much time as you want to be productive and optimize your time… remember you are managing your tasks not your time. But you don’t want to be stingy with your time when mapping out your schedule because then when you do not accomplish a task in the allotted time, you will not only be discouraged and frustrated but in addition, you are now behind schedule. Getting behind because of your own scheduling error is a bad thing… Things are going to come up and life happens, so inevitably at some point (more than once to be honest) you will fall behind schedule. You don’t want to cause yourself more problems because you are not accurate in your scheduling from the jump.
Get it together and manage your business before it manages you.
And all in all, … two words… Get Cocky.