Posts Tagged ‘Cash Flow’

People always want to find a reason… People are also quick to point a finger as to absolve themselves of the blame.

Bottom line… Your business, your fault, your problem. You must take responsibility for your station in life and business. Take action if you’d like it to be different. You can’t lay the blame elsewhere if your business is not the success you’d like it to be or if your bankroll isn’t fat as you wish. Get it there and get yours.

This falls upon you; you’ve got to take the necessary action and get it done. This idea that someone can take your success or ‘take your bag’ (your pay day). There are so many ways to get paid… If you’re not getting paid, you aren’t doing it right. Either you aren’t doing it good enough or you aren’t marketing yourself in the proper manner. Whatever it is, you’ve got to learn, adjust, and make it happen.

Again, it is your business… Your bankroll… This is your success that is in your hands… It falls on you.

This is intimidating to so many. Those who are easily intimidated aren’t meant to be entrepreneurs. They just aren’t built for it. You don’t get intimidated; you rise up, take charge, and get what’s yours.

It truly is that simple. If you feel you can’t handle this kind of pressure, this isn’t for you…time to walk away. You might be more comfortable working a 9-5 for someone else, and there is nothing wrong with that. If you want to work for yourself, it all rests on you and at the end of the day, there is no one to blame… It is all you, and that is a good thing… That is how it should be.

Let’s keep it real, nobody can take your bag…

Get Cocky

Know where you’re going. Know…

When you venture into a new business journey, you need to know where you are going and what it is you are doing. Every good business has a mission statement… A direction in which it is going… a goal in mind… a purpose.

You have got to have these things locked down.

You know it is vital to have your ducks in a row and know where it’s all going, but what can be overlooked is the confidence level. You have got to be confident in your mission. It can’t just seem like a good idea… or be an idea based on something you’ve seen but you think you can do better… It has to be something you believe in. You’ve got to have that confidence level…you’ve got to KNOW that this is a solid path.

Of course, you can never predict the future and unforeseen circumstances that may come in the way of your flow… but ultimately, you’ve got to believe in what you’re diving into from the jump and go all in without hesitation. You’ve got to give all you’ve got to make it a success or what are you bothering with it for? Fully commit or walk away because there are other ideas and plans out there for you to invest your time, efforts, and money into… Don’t settle into something for the wrong reasons…

Get yours… Get Cocky

It should be obvious if you’ve followed my writing or if you know me at all; I am a fan of hip hop… It truly is a part of who I am… It has been for as long as I can remember. I respect and understand that it may not be for everybody as nothing ever is, but for me, I find it empowering… There is truly something special about it… My Mom raised me with an incredibly wide range of musical influences. I listened to everything from AC/DC to Air Supply, REO Speedwagon to Earth, Wind, & Fire, Michael Jackson & the Jackson 5, Prince, Tone Loc, the Bee Gees, Lauren Hill, Boston, Tupac Shakur, Elvis Presley, & Chicago… and on top of that, we were raised in a good old fashion Southern Baptist church so we were brought singing right out of old school hymnals. I can tell you honestly that all the music touched me in special ways… Music has always been such a powerful thing in my life. Hip hop has always just had this powerful impact on me… but just like any other genre of music, it’s not all good… sometimes, a song isn’t good… sometimes, an artist isn’t quite the artist people build them up to be… and sometimes even a great artist or lyricist can just put down some bad lyrics… It happens.

In hip hop, there is a lot of ego that gets thrown around all the time… many have this idea of a lifestyle they must live up to in order to fit or compete… There are so many who break that mold and don’t fit in this idea of what the lifestyle is… The reality is it about the music or at least it should be. It should all be driven by something meaningful and then it is what is sustainable, and the money will come.

“I get money,” “I get paid,” and “got stacks on deck” are all phrases that have been spouted again and again… You may be able to drop bars, but are those bars paying in dividends? Are you really getting paid? Do you got stacks on stacks? Are you fronting? Are you playing like your bankin’?

It is one thing to drop bars and spout rhymes about getting cash all day long; it is an entirely different thing to actually get paid.

Jay Z has said it time and again, he ain’t about livin’ rich and dyin’ broke. He is all about financial freedom… That is what we are preachin’ here today. You’ve got to make better choices. You are here reading now because you have ambitions of running your own business and growing something great; be sure you’re doing it wisely. You have your entire life to live the life of luxury when you have made it. When you’re trying to make it, don’t burn through the money coming in on appearing rich and wealthy.

Make wise choices and make it happen. Make it happen and get there and then live that luxury lifestyle.

Ain’t no sense in appearing rich if you ain’t never gonna make it there because of your reckless irresponsible choices today.

Whatever your passion is, make it happen and get there be sure you are properly motivated and going where you want to be going…

At the end of the day… You can sing it… Can you bring it…

Get Cocky

You need someone in your corner you can trust… someone to back you up… As your business grows, you need that person who is going to be that unbiased voice in your ear telling you what you probably don’t want to hear.

You are building your business; you are running things. While this is your business and any projects involved are yours, it is never a bad idea to have a trusted confidant whom you can bounce your ideas off. We are all human and psychologically, we can become clouded in our judgement from time to time. Do not allow this to stifle you as it happens to the best of us; I assure you.

There was a man of whom I had worked with many times again and again over several years. We had become close as I grew to know his family as he did mine. Essentially, he would contract work to me, and we had an agreement in which he would pay me by the hour. I would keep a log of my time and submit him invoices. Since the work kept coming, and I saw the work fairly easy to add into my other projects, I continued taking the work. After the first couple of invoices, he began to get behind on paying me… He would fall short of paying an entire invoice; he would pay late…sometimes multiple invoices could pile up, then I’d get paid for most of the sum… He would always catch up, but business just wasn’t as good for him as he would’ve liked it to be. I gave him some leniency as I knew he was struggling, and he needed my help… besides, I would get all my money eventually, at least that is how it seemed to me at the time…but whenever he would get caught with billed invoices, there was already another one in the works.

I had explained to my Mom about the arrangement I had going on as I always told her about my many business dealings. She was always cheering me on, and it felt good having her to always talk to. When I told her about what was going on, she warned me at first to just be cautious. She said, “just be careful; you know how these things can be.” I reassured her not to worry as I got it under control. She always trusted me… she just expressed that that is what Moms do… She trusted me but wanted to be sure I was okay.

This went on a couple of years… Work started to dwindle down and I got calls less frequently which was fine for me as I had other things that were getting heavier that needed my attention.

So after some time, we connected again and tried to get something going… My Mom instantly chimed in and told me to be careful… After working together for two weeks, the second week we worked together was the largest week in sales he had ever had even though he had been doing this for over ten years. It was amazing and he was shocked at what we pulled off. We instantly saw potential… we agreed on a salary spot for me as long as I met quotas each month, I would stay on this salary… otherwise, back to hourly… but I’m still working contract labor. I am running my business and just being contracted by him… My Mom continued to check in on me on the regular which she always did, but she just had a bad feeling that this wasn’t going to work as I was thinking it could. She was right.

Over the next few months he continued to fall short on my payments and then got to the point he was paying me nothing… I was thinking we are working on something big, and I was happy to be a part of it… I quickly realized it wasn’t mine. My Mom…she knew already from the jump… I just didn’t see what she saw. You need that wingman (or in my case… my wing-Momma… haha) that is gonna keep it one hundred with you… not only are they going to keep it real and straight, but they are knowledgeable enough and aware enough to pick up on the things you may be missing or overlooking. That’s what you need… You need someone you can trust who may not know the complete inner workings of how you’re getting down and doing your business, but they know just enough to be the support and confidant to help push you to reach your potential and not be clouded by yourself.

It is hard to know who that person may be for you, and it may not even be the same person every single time… Just be open to the possibility that you may need an extra pair of ears and eyes to catch what you may miss.

Keep your eyes peeled and your ears open. Don’t allow yourself to be taken advantage of. Don’t allow yourself to be sucked into someone else’s dream. Build your own dreams and don’t build them through others… you got this…. Ya hear me…. You got this!

Now Get Cocky and go get paid already.

You know you’ve heard it before… “stop and smell the roses” To me, that phrase is played out… Time to remix… So, I’m askin’ where the roses at, Yo!

Yesterday was my day… that’s right… My day… My day with my family… with my smokin’ hot wife, Kimberly and our wonderful boys… It was fun and productive. We hung out, went to church, kicked it in the backyard, even did some things around the house… It was great. It was most definitely what I needed. One Hundred.

Not many realize what all goes into running the biz and building my brand.

I haven’t missed a daily post since January until yesterday; at some point you must take a moment for you and the fam. It is critical to your sanity and your survival.

I have so much going on growing my empire… those of you with me, know what you’re putting in and it gets deeper before it lets up. Believe that. Stay strong… all you are doing will be worth it in time. You are growing and know you’re not alone… This is the game we have chosen.

I am running four on line resell stores on top of my daily posts, keeping up with social media to promote all my work and advertise for the stores and the new merch as well as continue to research and acquire new inventory to add to my stores on the regular. It is a constant hustle… In order to maintain such things on this level, there has got to be a rhythm and a constant flow to your game. You gotta keep ya game tight too.

Presently, I hit live auctions weekly as well as checking out silent auctions around town from time to time; gotta keep new product flowing in. Then I must take the new product and shine it up and have it looking as nice as possible, get it pictured, price it, and get it listed in the appropriate store. I then must plug my new items on social media wherever is reasonable to keep traffic flowing through the stores.

I’ve got to keep plugin’ on facebook and IG to keep more people taking notice of my ever growing brand.

On top of all the hustle, probably the biggest challenge is to keep things fresh and poppin’, Part of the job requirement to grow in this biz is to be creative with a high level of fluidity. The creativity must continue to pour out without ceasing and know no ends.

This is only a peek into what it is I do… I still have business consulting, coaching, emails, phone calls, money management, investments…

Truth is, I wouldn’t trade what I am doing for anything… I love what I do. I love being my own boss and building something great for my family. This is such a beautiful thing, and I couldn’t be more proud of what we’ve got and where we’re going. The key is though…why am I doing all of this… not for fame and glory… although I do love the glory of the game… I do this for my family, and more often than not, moments need to be taken to spend time with my family. I also have other obligations for to my family; simple things that I need to do to take care of them…

Be sure you take a moment or two to ask you family or maybe just some friends…”Where the roses at, Yo!?

You know you’ve heard it before… and the person who said it to you will swear that it is a real thing and will explain that this is their method… False.

That mess is just that… a mess. Plain and simple, there is no organized chaos in business… A successful business although it may seem chaotic at times to someone on the outside, it is strategic and calculated… otherwise, it won’t ever reach it’s potential. Are you trying to do just what you gotta do to get some cheddar in your pocket or are you trying to build something viable, something strong, something great… You notice there is no question mark at the end of that question because it isn’t really a question. If it was, you wouldn’t be reading this.
My uncle is a man who is quite skilled at what he does. He has a reselling business and is quite the hustler. He is so good and hustlin’ and countin’ his bag, he doesn’t realize that his bag is much lighter than it should be. Don’t get me wrong; of all the people I have known doing this type of work, he is close to the top when you are considering sales… but is he efficient… is he making the most of his bankroll… he truly isn’t. He has endless potential with the skill set that he has in this market. He just won’t tap into it because he claims he loves the organized chaos. He keeps everything in disarray and no rhyme or reason to any of it… not his inventory, not the photos log for his inventory, an overflowing email box, and you wouldn’t be able to find anything on his desk… Now he will claim that he can find anything he needs and that the idea is that he doesn’t want anyone else to find anything… What would they be looking for?… He embraces the organized chaos theory, and this is why he is still doing what he is doing which he is very good at, but he has dreams of doing so much more… Who knows if he will make it there…

Years ago, I used to sling hash… for those who don’t know, I was the head cook for four years in a great kitchen. I loved it. It was fun, it was busy… I love to cook and love moving fast. It was a fun adventure in my life while it lasted… Well, point is I remember a phrase that I would here around the kitchen and have heard in many kitchens since then. “A dirty cook is a working cook.” Total nonsense. You do not just get dirty because you are hustlin’. They had mostly red aprons and some white aprons in the kitchen I worked in. Most people preferred the red because it would take longer before you’d notice the grime… Not me nor my homeboys, Poncho and Everisto… We rocked the white shirts with black slacks and just thought the white aprons looked tight. We had to look as cool as we could… I’ll tell you right now that the three of us never really had a problem keeping clean. None of us really liked to be dirty and we were slingin hash in a kitchen that was pretty busy… all the other cooks just got so dirty… When a manager or someone would justify their filth with the phrase, “a dirty cook is a working cook.” Yeah, we never really appreciated that. We were definitely not dirty, and I’ll tell you… myself included, you won’t find a cook elsewhere that hustled like we did… no question. At the end of the night, we were still lookin’ so fresh and so clean. Haha

What it is ladies and gentlemen… It is excuses. Anyone who is falling short of the glory they should be reaching will have plenty of excuses why opposed to realizing that they should be doing it differently.

It starts with pride… whether you are an entrepreneur or not… you need to take some pride in your work. Whether you are slingin’ hash, flippin’ a burger, mopping a floor, or building your own empire… take some pride in it and do it well. Some of you will read this and think it silly to take pride in mopping a floor… Do the best possible job you can so one day you will not be mopping that floor. Take pride in your work. At the end of the day, be proud knowing that your work is a representation of you to others. And if you are an entrepreneur, everything you do reflects to the success of your business as does the success of your business reflect on you. It is a cycle. Be proud and embrace that cycle.

‘nough said… Get Cocky.

Those who have known me for a while know that I have a background in psychology; I attended the University of Texas and even worked in a research lab.

More and more in today’s society, I hear people arguing that education is a waste of time… oooh…. I could not disagree more. I have heard the argument so many times about the statistics referencing that many of college graduates do not even utilize the degree that they graduate with… I hear about the massive debt that students accrue… So many people with so many complaints about education.

I will not say that every must or needs to go to college… I will, however, say that I wish more people would. Just for a personal preference; there are far too many people out there that lack education. It just makes life less enjoyable when you encounter these people daily and they have no desire to learn anything but feel they already know everything… you know these people; we all do. You can’t get away from them. People try to blame it on a generational thing or whatever…but there have been stupid people in every generation; it is a sad yet very true fact. I simply say stupid because that is what it is when people assume they know everything and refuse to learn anything…STUPID.

Now, to put away my soapbox… I encourage education for so many reasons… I do have my personal reasons; yet there are many professional reasons as well. Truth is that you need to be educated. You need to know more than what you are selling. There are plenty of people who get by on just their one little skill or product or idea, but do you want to get by or do you want to be wealthy and successful? Let’s get there already, then.

You need to be educated. You need to know some things. You need to have some mathematical background so you can know how to manage your funds and your budget. You need to be able to budget, manage your overhead (whatever it may be), track expenses, balance your books, etc. These are all fundamentals that ultimately are many people’s downfall. You need to be able to write, at least a little. You need to be able to write a memo, a proper email, draw up paperwork, etc. It can be critical to be able to formulate proper documents and conduct yourself professionally as well as protecting yourself. There have been many business deals that have fallen through in which documents were not legit and one party is left being held responsible. You need to be articulate; be able to carry yourself in a professional manner and speak well to others. You need to speak well and have people want to listen to you when it is your business you are trying to grow.

Overall, there are so many things that you will learn by going to school… so many things I did not even touch on here as I was merely speaking about the fundamentals when trying to grow your business.

I have learned many things over my years in the education system; I learned about statistical design processes as well as in depth psychological perspective, business writing, creative writing, debate, science, history, politics…. Reality is, I could go on and on because I loved my education. I am grateful I did it and have never regretted it. It was a truly amazing experience and I learned so much that I utilize every day. So frequently, I can reference something from my days in school… I also had experiences and fun that don’t compare to anything else (I am not talking about drunken frat parties either).

It is important and beneficial to be educated; there are so many benefits that can propel you into the future. Don’t buy into the idea that it is a waste of time because of all the hype or because it is cool to not go to school. Get out there, have some experiences, make some memories, and learn something.

Your future is what you make it to be. IT is never to late to learn more either. Just sayin’

There was a time when I was in college that I had a part time job tutoring math at the community college. I tutored everything from basic mathematics skills to calculus although calculus wasn’t my strongest subject to tutor. I have always been good at math since I was young, but it wasn’t until I got to college and met the most incredible professor I have ever known. His name was Omar, and he just had this special ability to make mathematics crystal clear. During my tutoring sessions, specifically the students who came to me seeking aide in the developmental math classes had this aversion to math. I can’t say that I didn’t understand. Even though for me, growing up, math was my best subject, in my entire life math was only presented fun a few times…for arguments sake, let’s say I could probably count the times it was presented fun on one hand… math was taught to us nearly every day we attended school all through grade school and then sometimes there was patterns to curriculum in middle school and high school, so you may not see it every day…but ultimately that is a lot of math that is rarely approached from any angle other than technical. I am aware that math is very technical and knowing how it functions is important. I am also aware that there are effective ways to approach as I have seen them in action.

Omar was an exceptional professor on so many levels. He put the students at ease when going through the developmental courses by letting them know he struggled all through high school but went on to get his Masters in Mathematics. “If I can do that, you can get through this course,” he said. He always had these fun stories of how formulas were created…when, where, why…under what circumstances was the mathematician when he discovered something new. It was really great because he made math more interactive and allowed a little history to be involved which made the material more relatable than just memorizing formulas…which to be honest is a truthful thing sometimes. Sometimes, you must just memorize, and it will piece together later.

I utilized many stories and tricks for memorization that Omar taught me in my tutoring as well as my own personal life. Even when you are killed at math implementing formulas can be tricky sometime and you forget little things; we all do.

I recall one day at the end of a College Algebra class, a student who was notorious for questioning everything and always took opportunities to express how this was all a waste of his precious time, decided to ask Omar, when will we ever use this… Omar, knowing who this student was and knew he would quickly shoot down any logical answer provide, simply stated, “the state of Texas requires this course for your particular degree; if you wish to get your degree, you will use this to pass this class.” ‘Nuff said.

Some people are so determined that they do not need math, or they are convinced of their lack of ability in this area, that they are closed off to the idea that they can indeed do math. It is a little-known fact and frequently argued concept that math is involved in all things we do. I live in Austin, Tx which is a very musical city to all of you who are unfamiliar… I know many musicians, several of which believe they are no good at math although they write music. I have had many discussions expressing that if they are writing music, they are using math even if they do not realize it.

The key for many of you out there building your business are growing as an entrepreneur is that math is so critically vital to a business owner. You must know the logistics of what you are building and be able to spout the numbers of your business off with little thought. You must be that involved in the development and growth of your business that you ‘KNOW’ those numbers… but knowing is much more than being able to recite them. Anyone can memorize numbers and list them off; you must be able to understand what they mean and how to apply them. You must know the ins and outs of your finances. The eb and flow of your cash flow is so vital to your success. There are so many people with incredible skills that fell short and their business crumbled because of lack of mathematics in their efforts. They trusted someone else to know or just believed that money was coming in so no need to analyze the details… this is so far from true. Money is coming and yes, your business may be growing, but do you know what your next step is? Do you know where it should be going from here. Maybe you have ideas but without proper analytics of your finances, you can’t make accurate decisions. This can make the difference between your success and your failure.

You need to understand your taxes and make sure you are keeping yourself protected and within the bounds of the law. You can, of course, hire an accountant to crunch the numbers for you especially as your company grows…that is a lot of time that ultimately shouldn’t be spent by you if you are needed elsewhere, but you need to understand how it works and be able to go over what they have done and know your money is in the right place and well attended to.

You need to be able to formulate a budget for maintaining your company as well as the growth of your business and the potential expansion into new business ventures. If you aren’t careful and managing your funds properly, new business ventures can destroy the viable business you already have. These are things you must know and understand.

This is a lot to take in and much of it will be gotten into later in more extensive details… Be sure to stay tuned.

Math is so critically vital and not at all scary. Do not allow math to be your downfall. Utilize it to the greater good of your future success. Math is your friend if you let it be.

Confession time…. Sorry to disappoint, but it isn’t as juicy as the title may have led on… I looked in my fridge the other day… I had been hard at work for hours. I had been poundin’ away at the keys for longer than I even know. I had gotten up to wrangle my boys a few times, but I was in the zone. I was feeling hungry and a bit thirsty… when I opened the fridge and noticed there was nothing to drink in the fridge besides my boys’ juices and some milk and on the top shelf, Rockstars and Coke… I had actually gotten so consumed in my work and keeping up with my boys that day that I didn’t realize until it was about an hour till their dinner time and all I had put in myself was Rockstars and Coke… I had a day where I was in a zone… I was literally juggling tending to my boys all day… which if you have ever met them, I assure you, there’s no way your kids could keep up with the energy level of my boys. Our two wonderful boys are so amazing… but they are fast. I mean really fast… anyways. I had managed to keep up with them, made them breakfast, lunch, tended to little bumps and bangs as they happen, and even managed to get them to clean up their toys after plating… all of this while I poundin’ away at my laptop all day. I just kept my laptop open and kept on runnin’. I was hustlin’ and in the zone… I managed to feed them but never feed myself… I know we have all been there, but it isn’t good for us.

A lot of my tips and advice is directed to you as I am hoping to help and encourage you with the knowledge I have gained from my years of experience running my own businesses and helping others with theirs… but this one I am directing at us as it is something I take seriously only sometimes and others…. Well…

We have got to take care of ourselves. It is so important that we are mindful of what we are eating… or even more importantly we need to be sure we aren’t so consumed with work that we don’t eat. You must take those moments to care for yourself and make sure that all the fight and drive you are putting into your business… that you’ll be around and healthy to reap the benefits of all your victories.

That’s it…short and sweet… Just keep some perspective. At the end of the day, you’re adults for crying out loud… you got this.

Till next time, homies… Peace & Hair Grease

This is so frequently misrepresented which makes it harder for those who don’t really value their time properly wrap their head around the concept. I have literally had a friend try to argue that time was time and money was money. As this dude had been a homeboy of mine for many years, I went ahead and quickly let it go and moved on as he had no desire to not work for the man anyways. He was constantly paranoid that he would lose his secure job working for the man at the post office.

Ok… so, the idea is that of course time isn’t literally money… you cannot trade time as currency… or do you do that already? Come on, most of us have done this regularly at some point in our lives and some of you still are and are hoping to grow past that… It is called a job… You are trading your time for a paycheck. That is what money is… in an essence… it is stacks of Ben Franklins that theoretically at one point were a physical representation of some currency that was held at the US Mint… now there are people who debate the validity of that idea for a plethora of reasons… but this is not the forum for that…

When an entrepreneur, business mogul, or growing business owner says the phrase “time is money,” they are referencing a value that they place on their time. The importance of this is when you are deciding how best to manage your time. When you in the early stages and growing your business, you are doing everything on your own; it all falls on you. As you grow and get revenue coming in, and the business begins to thrive, there are much more things you must consider.

You have got to ensure that you are utilizing yourself at your optimum potential. I have watched several people I have known who ran their own businesses miss the mark on this one. They see things as they are successful and making money, they must obviously be doing it right… right?… Not necessarily… There could be more you are missing. I knew a very successful business owner years ago… I helped him many times with his business. He had a reselling business, and he was quite the hustler. He truly was great. He would find things al over town and in neighboring cities for practically nothing… I never knew how he did it… none of us did. The thing was that he lacked organization… or not that he lacked it, he just said it wasn’t important. He could organize when he wanted to… I had seen him do so many times… He just said it wasn’t important. It extremely slowed down his process to be so out of sorts all the time. He was no doubt successful but had aspirations of bigger things… It was ultimately his lack of focus that held him back.

The key again is to know your worth. I had a partner whom I did business with for a good while long ago that would always preach about how he just wasn’t willing to waste time on doing things that were beneath his pay grade. He was extremely successful as well but didn’t really much desires to run his own business because of such things. He had tried to start multiple businesses and when it came to the leg work that is needed to get it going, he just wasn’t making enough money… He was taking this principle to far as it was making him short-sighted. He wasn’t seeing the value in putting in the work to get the business going. He made too much money in commission making sales as he was a huge closer that he just couldn’t give in to the basics.

The idea truly is knowing what you value yourself at… but not losing sight of getting the business going in the first place. Now that you have your thriving business, don’t hesitate to get help, outsource, hire someone.

Why do something that earns you $15 and hour when you know you could easily earn $100 if you were doing something else. That is about as real as gets. If you can earn $100 an hour or even more… which you on your way… then there is no need to do the time-consuming work that earns you $15 an hour.

Time is money… Earn more…