Last month I hit the big one. The big 50.
I was discussing this with one of my clients when she asked what my key learnings in business would be.
So here they are in no particular order:
Your Team Balance is Crucial
Many think that skills are the most important aspect when hiring.
But for me the most important aspect is attitude
I have found that I can teach skills. I cannot teach attitude. They either have it or they don’t.
Once you have people with the right attitude, they need to fit into three categories:
1. Artists
2. Managers
3. Money Makers.
Artists love what they do but are terrible business operators because they do not like structure. Most business owners fall into this category.
Managers love putting in place systems are procedures and work logically but are not very creative.
Money makers make sure you make money. Little emotion but logical.
You need all three and you need some who are willing to challenge you.
I did not understand the effect all three would have until I put them into place in my own business. It totally transformed the business, financially and structurally.
Customers Don’t Always Tell You What You Need to Know
Sometimes you need to innovate and change what you give your customers. You can ask all you want, but rarely will they tell you or give you an idea of kind of product or service they want in the future.
When Apple made the Iphone not a single one of the surveys they conducted suggested anything similar to suggest an App or zooming in and out of a picture. And today everyone not only uses them but rely on them.
Or Kodak. None of Kodak’s customers told them whilst buying film roll that they wanted digital photos.
How you define your business defines what you do.
Kodak actually invented digital photography but they defined themselves as a chemical company that puts chemicals on film. They did not define themselves as being in the business of memory preservation.
f you’re in that business, you don’t care if it’s film, instant development of pictures, or if it’s a digital sensor. You just want to preserve memories.
How do your define your business.
It Has to Make a Difference
I don’t care if you are in the business of aged care or a mechanic, it has to make a difference to those your serve.
For three reasons:
1. It will drive everything you do
2. It gives you an advantage over your competitors
3. It is extremely rewarding and fulfilling
Never stop learning
We don’t stop learning once we leave school. And we never stop learning in our business.
Never stop learning about how you can improve your life or make it financially or emotionally wealthy.
I have an avid interest in reducing working hours and financial freedom not just for me but for my clients too. I have written a book on the subject and blog about this often but I am always researching the topic to see if there is something I do not know.
Selling is not Bad
When the word sales is used we think real estate agent or car salesman. These are negative so we do not want to go there.
But think of it this way.
If you have a big enough ‘Why” you will realise the if you do not serve your customers you are doing a disservice to them.
I have no problems selling financial freedom. Why? Because I know the difference it will make to those I serve. If I do not show people how to achieve financial freedom they will suffer pain and I want to make sure I do whatever I can to avoid that.
Who do you serve. What problem are you serving. Once you realise the value of what you do, selling is no longer an obstacle,
Say ‘No’ More Times than You Say ‘Yes’
Humans will do more for others than they will do for themselves.
One of the biggest ways to get more time is to focus on what really matters. In my life it is 5 things or areas. For example, I must Grow as a person.
If I am asked to do something or need to do something I ask if it meets those 5 criteria. If not, I say ‘No’.
Rarely does checking email achieve my 5 objectives. So, I have them screened first and only deal with the ones I need to. It saves times and ensure I spend time on only things that make a difference to me.
This means saying ‘No’ more times than saying ‘Yes’
