I don’t often remember dreams but when I do there always seems to be a reason. Let me setup the situation with some background as to what was going on in my life.
The spa business my wife and I own has been doing well. The one problem we have is that we need to hire more people to keep up with the demand so that’s a good thing. One hire we needed was a manager and we had found a winner. Our new manager was excellent in every way and really put us at ease. Now we could concentrate on other issues and keep growing. Three weeks into her employment, however, she stopped showing up to work. We could not reach her in any way. She didn’t return phone calls, emails, or texts. We were at a loss.
That’s when I had this dream. In the dream every time I checked on my boat it had sunk but would rise up again. I’d leave and when I would return it had sunk again. But it would rise again. The patern continued, sink, rise, sink, rise. And that’s when I woke up.
So why do I think this is a positive thing? Because being an entrepreneur, owning a business, is like being on a boat that sinks but can rise again. Things go wrong, some things are beyond your control, but when things go wrong you have to rise up and deal with them, fix them, and keep moving. Our manager chose Valentine’s Weekend not to show up and my wife and I stepped in and worked. We did what we had to do and the business kept moving. We sank but were able to rise again. I’m sure something else will happen to make us feel as if we’re sinking but we do what it takes to stay afloat. Whatever the challenge, we keep focused on success.
Saturday could have been a disaster but we rose to the challenge and had a very good day.
Posted in Business, General, Leadership, Outdoors, Success, Taking Action and tagged boat, entrepreneur, entrepreneurship, rise, sink by AJ with no comments yet.
I don’t respect people who sell nothing but hope and dreams. These are the people who come up with inspirational quotes, who make you believe you can do anything, that all you need is the confidence and belief in yourself. They tout mystical and mythical things like The Secret and “laws” of attraction.
I’m thinking of people like Jim Rohn and Anthony (or is it Tony) Robbins, people whose product is inspiration and motivation. I know they have fans and supporters but they don’t impress me. Jim Rohn was an “entrepreneur” who ran a direct sales organization (Nutri-Bio, whatever that is) that went out of business. (Don’t get me wrong – I couldn’t be successful at that but then again I’m glad that I can’t sell people useless things they don’t need.)
Instead I’m impressed by people like Gary Vaynerchuk who is not short on inspiration and motivation but who doesn’t make those things his only source of income. On the contrary they are a small portion of his success. His speaking and books are his side hustle not his industry.
Similarly I wrote a book and have my own quotes like the one above and this one: “inspiration without action is just a good intention.” But I don’t want to sell you the dream of success, I want you to be motivated by the realization of my dreams as I am by the realization of Gary Vaynerchuk’s.
Gary has great quotes but it’s his business success that I derive energy from. Whether it’s building Wine Library from a bricks and mortar liquor store to a large online retailer, or being an important part of social media with Vayner Media, Gary has built tangible success.
Too many people eat up the inspiration of these salesmen and feel great about themselves while they continue sitting on the sofa safe with their dream of success.
Posted in Business, General, Success and tagged anthony robbins, dream, dreams, entrepreneur, gary vaynerchuk, hustle, Jim Rohn, success by AJ with no comments yet.
It is true that if you wait until everything is known, until there is no risk and everything is perfect, you’ll never get started. Paralysis by analysis as it’s called. But that doesn’t mean you should settle. Strive for perfection while moving forward.
In What Next I talk about the ability (metaphorically speaking) to hike or travel two or more paths at the same time. This is working a day job while pursuing a business idea you have, for example. Well the same is true with progress and perfection. Keep moving forward and when you fall short of perfection ask why and modify your course.
The reason progress or perfection is presented as a choice or passive income is presented as the solution to success is that they’re simple. These choices let you off the hook. You don’t have to work hard because you have passive income – well that’s bull. It’s ok not to strive for perfection because at least you’re moving forward – also bull.
It may not be the simple solution you want, but the truth is, success is hard. If it wasn’t, you wouldn’t be reading this and other similar posts. Don’t let yourself off so easily, dedicate yourself to doing the hard work and find true success.
Posted in Business, General, Money, Success and tagged income, passive, passive income, path, perfection, progress, success by AJ with no comments yet.
And this is what I have:
And this is where I started:
You don’t start at the top and work your way down. You don’t start with a yacht and end up with a Jestski. You start at the bottom – but the bottom for me is different than the bottom for you.
Richard Branson grew up wealthy so for him starting at the bottom was founding a magazine. John Paul DeJoria, founder of Paul Mitchell hair care and Patron tequila (love the coffee Patron), once lived in a car, bottom for him was really low.
It is incremental steps that build success and wealth, but like starting at the bottom the increments are larger or smaller depending on the person.
Howard Schultz, the CEO of Starbucks, grew that business incrementally. Begun in 1971 Schultz bought the company in 1987 and expanded outside the Seattle area for the first time that same year. The company didn’t go public until 1992 when it had just 140 locations compared to over 16,000 today. The incremental growth was slow in the beginning and picked up speed as time went on. Incremental growth speeds up with momentum. None of the successful people you know have coasted to the heights they’ve achieved. Success is an uphill climb and coasting doesn’t work up hill.
But what do the boats have to do with growing a business? Nothing really, but they are the end result of that success. I mean really, why work if it can’t buy fun? The boats represent how growing your business is tied to growing your own success. We grow our businesses, our savings, our net worth so that we can enjoy it. When I got my first job out of college I bought that Jetski and thought I had hit the big time. Over the years I upgraded and bought a boat and then another Jetski. I traded up for a bigger boat and now I’ve traded up once again for the boat you see in the middle.
I’ve taken small steps over the years which is how I’ve been able to grow in other areas such as net worth and investment portfolio. I don’t know if I’ll ever have the yacht in the first picture but I know I won’t get it by obsessing over it. I’ll get that boat by continuing to work hard, by growing my various What Next businesses, and by keeping focused on success. It’s the people who focus on the results of success rather than the work of success who end up with less than they started.
Posted in Business, General, Money, Success and tagged business, growth, momentum, success, yacht by AJ with no comments yet.
Sparked by curiosity, entrepreneurs explore farther and wider than most people but they aren’t reckless (at least not the successful ones).
Nothing happens without ideas, and curiosity is what leads to the best ideas. You have to go through a lot of ideas before you find that magical one that both excites you and works. That search can sometimes take a lifetime and the search is what many people don’t understand about entrepreneurs. In my interview with Gary Vaynerchuk he said he has ideas “24/7.” But he doesn’t blindly follow all of them or most of them or even some of them. He said that if the idea sticks around for a while, just won’t leave his mind, then he’ll follow it.
Which takes me to the idea of risk. Acting on any new idea has risk associated with it but there is a difference between being risky and taking a risk. Being risky is just doing it without much thought or planning. Taking a risk is researching, learning as much as you can, turning the unknown into the known so that surprises are minimal, and then going for it. One approach is dangerous the other is smart.
A lot of people confuse this penchant for risk as gambling but gambling is a loser’s game, gambling is a game of chance and successful entrepreneurs work hard to reduce chance. You can’t eliminate chance but there comes a tipping point when risk has been reduced to the point that action makes sense. This is why I put the following quote in my book: “I have always found that if I move with seventy five per cent or more of the facts that I usually never regret it. It’s the guys who wait to have everything perfect that drive you crazy.” That was Lee Iococca, the former CEO of Chrysler and that is the difference between someone who sees entrepreneurship as risky, as gambling, and someone who understands risk and works to make it less risky.
The person who has to wait until all risk is eliminated will never be an entrepreneur, and the person who rushes in without thought or preparation won’t be successful, but the balance between these two extremes puts the odds in your favor. It’s why I ask What Next and why I work hard to answer that with facts.
Posted in Business, Curiosity, General, Success, Taking Action and tagged Curiosity, entrepreneur, entrepreneurship, gamble, gambling, gary vaynerchuk, risk, risky, success by AJ with no comments yet.
I’m no coach or professional trainer but, as I work my way up to 13.1 miles in preparation for my first half marathon, I have a specific method to my treadmill workouts (it’s cold outside).
I always start slow (my current starting pace is 5 mph) and increase my speed as the run continues. When I reach a comfortable speed (currently 5.5 mph) I stay there for most of the run. On longer runs I will drop back to 5 mph and then build up to 5.5 or higher to finish.
The point is that I want to finish better than I started, and the important takeaway is that it’s a gradual but building process. The same is true in life and business. A business doesn’t go from $100,000 in revenue to a million overnight, they build up to it over time.
Sometimes it’s necessary to pull back, to intentionally slow down, so you can be fresh and have the energy needed to see the goal to the end. How many people and businesses keep the pedal to the floor but run out of stamina?
As I was increasing my speed on the treadmill I thought about what incremental changes I could make in my life, what could I do more of to get ahead. As I was dropping back to my starting speed I thought about what I could let up on so I could focus on more important things.
This gave me a whole new perspective and I wanted to get off the treadmill right then and get to work (ok, I just wanted the workout to be over). So I finished strong and turned my attention to other ways I’ll be sure to finish strong.
Posted in Business, General, Success, Taking Action and tagged finish, stamina, strong, treadmill by AJ with no comments yet.
Do you know what OPM stands for?
Other People’s Money and it’s what get rich quick schemers tell you to use to do everything from buying real estate to…well really I’m just talking about buying real estate.
I was on vacation at my house/rental property in California and I kept hearing ads on the radio about a real estate investment seminar where the star of a house flipping show will teach me, the listener, how to invest in real estate using other people’s money. “The Palm Springs area is an ideal place” to use these techniques, the voice said.
The funny thing is that when I got back home to my primary residence, I heard the exact same voice of the exact same television star saying that my town in NJ was an ideal place for these techniques.
What this person was really saying is that there are plenty of suckers in Palm Springs and plenty of suckers in NJ. This house flipping is easy and can be taught to anyone drug is the opium being pushed on innocent people who lack some common sense and want an easy way to success.
Real estate can be a great investment, I’ve invested in real estate and now own three properties, but it’s not easy, it’s not short term, and no one is giving you money without a proven track record.
Money can be made flipping houses, I don’t doubt that, as a matter of fact, my nephew has been quite successful doing it, but it’s his full time job and it was something he grew into building from a different but related business. Flipping houses is not something that can be done on weekends or in your spare time.
I know (if anyone actually reads this) that there will be some who say, “but I’ve done it, I flip houses on the weekends, in my spare time and it works.”
My response is if it works so well, why don’t you do it full time? If it’s so lucrative why not quit your 9-5 and get serious about it? The reason is that it probably doesn’t pay as much as you think and when you really do the numbers you’ll see that.
Don’t get sucked up in the it’s easy to make money (especially if you use other people’s money) game. It’s a losers game.
Posted in Business, General, Money, Success and tagged flipping, house flipping, investing, OPM, Palm Springs, real estate by AJ with no comments yet.
My answer, if Elon Musk asked me, would be yes. I think Elon Musk is insane, just as I think Ted Turner was insane, and Richard Branson was insane.
I don’t mean that in a negative way. I don’t think they need to be committed. I use insane in a positive, you-have-to-be-crazy-to-do-what-you-did, kind of way. As I lay out in my book What Next, you don’t go from a billboard advertising company to pioneering 24 hour cable news with CNN, as Ted Turner did, unless you’re a little crazy. You also don’t do that in a straight line. It takes twists and turns as you find the right path and go around or over obstacles.
Entrepreneurs hear that word, crazy, a lot. Imagine you said to friends or family that you were going to start a rocket company. Even if you had hundreds of millions of dollars, I think you would be called crazy. No, I know you would be called crazy because that’s exactly what Elon Musk’s friends called him.
But did you miss the big revelation in his story? Elon Musk had no expectation of making money at this venture. It was his passion and belief in something bigger that compelled him. In my previous post about this video called Crap Filter, Elon says that you have to be compelled to start a company or be the boss because it’s not easy. What is compelling you to do the things you do, and are you responding or pushing it off for later?
I think a lot of people confuse the word crazy with confident and compelled. Elon Musk is not crazy in the sense that we think of it, he’s just crazy enough to confidently follow through on what compels him.
Posted in Business, Curiosity, General, Success, Taking Action and tagged compelling, confidence, crazy by AJ with no comments yet.
I watched an interview done at the Khan Academy with Elon Musk and it was his words that led to this title.
Entrepreneurship might be glamorous and could prove quite lucrative but it’s also the hardest work you’ll ever do. I’ll let Elon Musk take it from here.
Everyone thinks they want to be the boss but when you’re at the bottom of the “filter for the crapest problems in the company” it’s not a lot of fun. I can speak from experience and while my high points are not as high as Elon Musk’s neither are my low points. When SpaceX had three failed launches in a row and only had one last chance for a very big contract with NASA, that’s really low. When Tesla was a week away from running out of money with no investors willing to step in, that was very low.
In spite of all that, he still felt “quite compelled to do it” and that made all the difference.
In the face of skepticism and failure, to push forward anyway is the sign of a person who will be successful. I have wanted to give up many times, I have wanted to sell my business many times, but I have stuck it out and now it is beginning (these things take time) to pay off. I still have bad days but having come through past obstacles and problems makes the future problems easier to handle.
Feel free to share how you have been stuck at the bottom of the crap filter and come through it stronger than before.
Posted in Business, General, Leadership, Success and tagged Elon Musk, entrepreneur, entrepreneurship, SpaceX, start-up, success, Tesla by AJ with no comments yet.
People need to move past the blame mentality. Blame is not a bad word. When I do something wrong and another person points it out, they are not blaming me, they are showing me an issue or mistake and helping me to correct it.
When my staff makes a mistake and I investigate and find the cause of the mistake I’m not blaming someone so they can get in trouble, or so I can fire them, I’m simply pointing out an error so it doesn’t happen again. This is the attitude I have when it’s determined that my action caused a problem. I’m not mad or scared, I’m glad, happy that an issue was discovered and that action can be taken to correct it.
Everyone has two choices when someone “blames” them for something:
1. Get mad and upset which leads to a bad attitude
2. Be thankful someone caught the issue before it became a problem, fix it, and become better
Which will you choose?
If your choice is number 1 then you are doomed to a mentality of cover-up, fear, and passing the buck. All of that leads to a bad workplace, a bad marriage, and bad relationships.
Choosing number two gives you power; power to take control of the situation and to learn from mistakes which leads to open communication, the freedom to think differently, the comfort to speak up.
The bottom line is that we all have to re-think the word blame and recognize it for what it really is, help and a way to improve.
So I pledge that if I mess up and you blame me, I’ll thank you and we will all be better for it.
Posted in Business, General, Leadership, Success and tagged blame, criticism, fear, growth, improve, improvement, mistake, problem by AJ with no comments yet.