Posts Tagged ‘Cash Flow’

Know Your Target

Posted: February 13, 2019 in Bayless Enterprises
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I strongly encourage diversification…if you know me, you know this… with that being said, you have to earn it first.

By diversification, the idea is to get multiple forms of business going and get the cash flowing in. This is awesome…like I said, I encourage this… but I also said… Earn it.

You’ve got to earn the right to spread that dough out… You’ve got to bring in that cheddar you want to throw around. It’s just that simple.

Okay… maybe it’s not that simple… the idea is that you need more than steady cash flow. You need substantial reliable steady cash flow with longevity. The money needs to be coming in and it needs to be significant. The idea is that you must have enough money coming to pay the bills and then some.

You need to get paid! This refers to you… your person… So many get their business going and put everything back into the business to keep it afloat and then try to make ends meet elsewhere… this is not the plan. Make sure you are getting paid. You must survive or how will your business survive without you… Next, you have a business that needs you attention and needs an influx of revenue to keep it running… no matter what kind of business it is that you are running, it needs money.
Okay… so, take care of yourself, your business, and then you need a significant additional revenue coming in that is flex cash… money you can afford to throw around a bit. I say that very loosely because no money is money that can be thrown around if you have any intentions of being wealthy. We will get into that another day… You want to be rich, think rich. For today, we will focus on keeping your eye on the prize.

You need to generate a substantial bank roll so you can keep your business growing bigger and bigger… give it a little time and when you’ve got it to develop into a sustainable business as well as the cash cow you desire it to be, we’ll talk about diversification. For now, focus on what you’ve got and give your all to it!

Get Cocky and Get There.

Partner with an Investment, Not an Idea

Posted: February 12, 2019 in Bayless Enterprises
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You ready for this? It’s time for a little tough love… Let’s get real.

It doesn’t matter if this is the first business you are getting off the ground or if you have multiple already out there earning for you… Key is to always know what you are getting into before deciding to partner with someone. There are many questions that need to be addressed in order to really asses whether this is an investment that you should be getting involved in.

There are the obvious ones… What’s the idea? … What are we selling/doing?

One of the most important questions is… Who am I am getting into business with? If your answer to this is, “my homeboy”… “my sister”… “my best friend”… None of those answers are the correct ones. The questions is not what is this persons’ relationship to you… It is who are they?
What is their background?
What is their experience?
What is their knowledge?
What is their drive and motivation?
Most importantly…what is their investment? Are they giving time, efforts, knowledge, money…what are they bringing to the table… That is the key here.

When someone is bringing invaluable knowledge to the table, then lesser monetary investment is acceptable. Substantial
contribution must be made by all parties.

You must know your partner is your partner and not a scrub. Trust me there are plenty of scrubs out there who are going to jump at the chance to partner with someone who is going to front all the money and do all the work. Friends and family can quickly get you pulled into something. They are someone you trust and care for… they will get to talking one day with all good intentions. Before you know it y’all have discussed this elaborate idea and all sounds good but there is no foundation… Your partner lacks the drive and ambition that you have. You will quickly find yourself in over your head and sinking when your partner isn’t giving into this new business venture the way that you are. No matter how good the idea or potential of said venture is, it isn’t worth it if you are in alone. They have got to be in it with you.

If someone is going to come at you with an idea, they better come correct… they better come with cash in hand and be ready to put in the time and work.

I caution you against working with friends or family… It is just a caution as things need to be kept professional and many times people who are close to you can easily cross lines, even accidentally… Things can get blurry and that isn’t what you want. You need to feel comfortable and confident being able to keep things professional and calling them out when your partner isn’t putting it all in and pulling their weight.

There is a lot of ideas here that are all valid and significant for different reasons and all come together under the same principle of being cautious who you get into business with. Follow and keep up with my other posts and we will touch on some of these other concepts a little deeper. For now, they key is to not partner with an idea… don’t get into something deep with someone just because the idea seems good or plausible or because of the source of the idea… you need an investment… you need a partner to bring the cheddar and lay down some of the leg work ahead of time to give you confidence in their ability and willingness to out in the work.

You have a new concept… you need a partner… you ready to Get Cocky… expect them to Get Cocky with you otherwise… go it alone. You’ll be better off.

Blaze a Trail

Posted: February 12, 2019 in Bayless Enterprises
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In light of the recent controversy surrounding last night’s Grammy’s, I find this to be a perfect topic. There has been drama surrounding the Grammy’s for as long as I can remember. A good majority of the time, it is something silly… at least that is my opinion… considering that people will argue these things endlessly at nauseum, I suppose it isn’t silly to them… All of this is perpetuated by social media… I digress…

In my opinion one of the most relevant moments in Grammy history was in 1989 when Will Smith and DJ Jazzy Jeff were nominated and ultimately won Best Rap Performance for “Parents Just Don’t Understand”. They chose to stay home and not attend, boycotting the event because the hip hop portion of the award show would not be aired on tv. When questioned, with Jeff backing him up, Will simply said that they intended to sit at home so one day, others wouldn’t have to. They took a stand because they felt in unfair that their genre of music wasn’t being respected. This was a key moment when Jazz and Will took a stand and said they were not only proud of who they were but were willing to walk away from accolades in which they felt they were not being given proper respect.

I would like to enlighten you to the fact that there isn’t much new to launch… Everything has been done… maybe I’m wrong, but when was the last time you saw something new? It is just new versions and dressed up a new way or presented in a new manner…

This is both a disadvantage and an advantage… What can you offer that isn’t already out there? What can you do that no one else can? Well, the answer is simple… Give them you… Just you. Whatever business it is you are marketing or what skill you are promoting… Give yourself in it. Give it your twist. Everything I do, believe me… It has all been done. There are plenty of people who can sell products, plenty who advertise or market ideas, plenty who coach people in their lives as well as business…. Everything I do, people have done before me… But what I do, is I give them me, Corey B. There ain’t no other good ol fashion, God Lovin’, hip hop thumpin’ Irish Texan that does things quite the way I do… that speaks in quite the manner I do. I have a special way that I speak…I have a way I talk… I have a background in psychology as well as statistics and experimental design which gives me a special perspective that many business minded people do not have. I’m Corey B. I’m loud and proud, I ‘Get Cocky’ on the regular…. Matter of fact I’m pretty cocky presently… Are you feelin’ it?

There are so many ideas out there and it is easy to sit back and think, “Oh I could do that” or “they should be doing that better”…. There is only one of you… The particular combination of your skill set along with your personality, your background, the who and what that makes you, you. Embrace who you are and give all of you in what you are doing and that is how you make your mark and set yourself apart from the others. If you are on the few who can do something completely new, that is freakin’ awesome… but if you can just give yourself permission to be you and make your mark, you are light years ahead of the masses and there you have it… you have a legacy… and that is how you build your business and build your brand.

I hope you have gotten a little more insight in to who Corey B actually is… if you are still not clear, stay tuned my friends… and Get Cocky

Time to Get Paid

Posted: February 7, 2019 in Bayless Enterprises
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It is time for the harsh reality… building a business based upon a passion that drives you is of course a beautiful idea. It truly is… but your dues must be paid if you wish to be paid. If you want to have a successful viable business, you must get to work. The hustle is an endless process at this early stage of your business’s growth.

You must be able to give everything you’ve got to your business. It is merely a dream… so let’s make this dream a reality. Even though your business is based upon a passion that drives you, it is not going to a simple and fun process in the beginning. It is going to be grueling and tedious.

I was recently listening to an extremely successful entrepreneur that is also well followed for his teachings of business. He has expressed for a long time that teaching is one of his big passions. This is a man whom I have an abundant amount of resect for. Something he said really got me thinking. As I mentioned, I have a lot of respect for him and have learned a lot from him myself…. with that being said… He said, “Do not follow your passion” …. To me, this contradicts some of the ideals that I believe in. The more I sat and pondered what he was saying, the more I began to come to terms with the fact that although we may not agree on everything, there are truths in what we are both saying.

He expressed that until you are paying your bills, you have not yet earned the right to follow your passion. Let’s build on that… I agree that until you are paying your bills, you do not have the right to rest. Bills are debt that you accrued. You owe these debts. You have a responsibility and a legal obligation to get these taken care of. Not to mention, the inevitable lifestyle comfort and just basic needs that come from paying your bills. In addition, you need to be able to fund your business venture, the expenses and overhead.

I still believe your business should be driven by your passion because I don’t believe you are going to give all you’ve got to something you don’t believe in.

With that being said, I 100% agree that you haven’t put in your dues and haven’t earned the leisure yet. This is going to be a battle and a struggle. You may spend endless hours at your computer pounding the keys trying to get your brand off the ground. Ten… twelve… fourteen hours a day pounding the keys… whatever it takes. No matter how much love sitting at your computer, you will stop loving it. You have got to be prepared to handle this.

I do feel it should be based on a passion you have although while fighting for this, it may not feel like your passion… it may not feel fun; it may be painstakingly grueling. You must dig deep and fight for it.

I have said it before and I will do so again… Anyone can do this, but most don’t want to. Are you ready for it? You prepared to fight? You ready to get paid… there is no rest until you get that cash rolling in.

Get Cocky and let’s get that money rollin’ in.

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