Discover the pitfalls of owning your own business

Discover the pitfalls of owning your own business
BEFORE… [you make a HORRIBLE choice!]

It’s really significant dollars rather than dimes… at least that is my knowledge over several years. Thousands can be left quickly if you fail to plan and work your plan in the direction of success. That is, the first step – baby size – should be at the ‘feet’ of one who has been there… done it!!

unbeatable, right? If anyone can do it, I can!! Looking back over many years – 40 plus – it’s written all over the choices made during my first attempts at starting a new business. Yes, I spent most of my career as an entrepreneur, owning or co-owning a business. Sometimes for the ‘right’ reasons, at other times it turned ‘south’ and belly-up.

At the time it didn’t seem like much… my first experience out of business college. ‘Excited’ to say the least. 21 years old, eager, thrilled, ‘ready to roll’ was more like it. NOTHING could go amiss, but it surely did.

Somebody [I won’t call any names] sold us a bill of goods. Just beware, everyone is NOT honest or dependable in business.

You need to know… that goes for Internet gurus too. Lots of hype but not much essence is often the case. Unfortunately, distance keeps you at arms-length long after your money is spent.

It’s different when you have no personal [in the flesh] contact… you are usually thousands of miles apart and most often it is NO answer when you call.

Just be careful or your funds can/will be exhausted in a flash. Been there – done that, too.

On the contrary, there is that 1% +/- group of Internet gurus as sincere and upright as you will find anywhere. It’s like ALL business dealings with homeowners – business owners – it pays to KNOW the character of the person and source in before spending your cash.

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Business Rules for new employees

Business Rules

Dear New Employee,

Welcome to the company! I would like to take this opportunity to share the ways in which our company is unique from other places you may have worked in the past.

Candidly, I do not subscribe to all of the various definitions for the “Baby Boomers”, “Generation X” or “Generation Y”. I don’t care what the theories are or what the media tells the world. In this company, there are certain policies and procedures you will subscribe to, regardless of your age, generation, etc.

This company’s success has been a result of hiring the right people. We let people know where they stand all the time so that if we were to make a change or let someone go, there is no surprise.

However, I do understand that you will undergo some adjustments in becoming a productive employee. With that in mind, I have taken the liberty to provide you with the company rules.

This list of rules was originated in a speech given by Bill Gates, and they have been identified as the keys to success within this organization. By the way, we review these rules at every department and company meeting.

Rule 1: Focus on the Mission

At this company, we have a simple mission: “We are ladies and gentlemen serving our clients and each other.” Please memorize this short statement. You will be asked to repeat it, in public, regularly. These eleven words guide our daily actions and behaviors.

Rule 2: Life is not Fair

Life is not fair, so get used to the fact that some people will be blessed with and/or given more than you. It is unfortunate that far too many of us—children and adults alike—spend time complaining about what other people have that we don’t have.

People also complain about the lucky “breaks” others receive by being in the right place at the right time. In business, far too many people envy the success of their competition. Employees often rejoice (perhaps secretly) when they see the problems and pitfalls of others.

How one chooses to deal with what life has given them is the measure of a person. Complaining about things will only make you turn into a negative person who will be far less productive than a happy person.

Rule 3: Develop Your Self-Esteem

The world cares little about your self esteem and expects you to accomplish something before you feel good about yourself. Success breeds success. If you do not and cannot succeed, then you must look to yourself, and not to the company. You will be as successful as you want to be. The choice is yours and your alone.

Rule 4: Success takes Time

While I would encourage you to set your goals high, you must understand that success does not occur overnight. Success is a journey, so be prepared for the long haul. This means years, not hours.

Rule 5: Respect Your Superiors

You will have a boss who will supervise your efforts. Your boss is not a professor, does not have tenure, and he or she will not allow you to be late for meetings, not follow through when assigned a task, turn things in late, leave early or be tardy.

Those behaviors reflect directly upon his or her judgment to hire you. Because your boss does not have tenure, how well you perform is a direct function of how well he or she performs. You must also consider all those above you in the organization as one of your bosses. Show them respect and they will treat you with the same. Disrespect them and you will not be employed here. (See Rule #1 if you need any clarification regarding this).

Rule 6: Work Hard

Nothing we do here is beneath your dignity. I have a different word for burger flipping—I called it opportunity and it paid my bills when I was younger. We do not flip burgers in this company, but we do serve clients. Clients pay your salary, so what they say goes, as it is your job to please them.

Rule 7: Accept Responsibility

Accept responsibility for your mistakes. Do not blame your parents, college professors, former employer, the government, the oil companies, the automobile manufacturers, your insurance company, your landlord, the driver of the car in front of you, your boss, coworkers, or suppliers. Instead of whining about your errors, omissions and mistakes, learn from them.

Rule 8: Learn From Others

The people you work with are not boring, stupid or slackers. If you think they have nothing to offer you, consider what they have accomplished.

They have worked long, hard hours to create, design, build, market and sell new products, contributing to both the top and bottom line of this organization’s financial well being, which has now allowed us to put you on the payroll.

While they were working very hard to generate profits and positive cash flow, they were also listening to people new to the company talk about how cool they are and how much better things ran at their former employer or when they were in college or high school.

So before you give us a lot of unnecessary advice, do us all a favor and work a few months here so you can understand what it is like to work in a culture different from the one you just left.

Rule 9: Time Off is Earned

You will earn a vacation in 365 days. Unless you have earned it, you will not get time off because you simply need a break. Just to be clear, everyone here works 8 hours a day, more if necessary. Breaks are taken as allowed by law, but they do not last longer than allowed by law.

Rule 10: Real Life Involves Work

Television and movies are not reality. In real life, people actually have to leave the coffee shop and go to work. In this company, people work every day that ends in the letter “y.” This means Monday, Tuesday, Wednesday, Thursday, Friday, Saturday and Sunday.

Yes, you read Saturday and Sunday correctly, because our clients expect us to serve them when they need to be served.

Rule 11: Nerds are Important

Are you nice to nerds? You should be, as the chances are that you will end up working for one in this company.

As you begin your new job, it is my greatest desire to help you succeed. Please keep these rules in mind, and I wish you the best of luck in this company!

Warm Regards,

The Business President.

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Irish Driving Tester

First of all let us say categorically, that passing the Driving Test is only the beginning of your driving career irrespective of how well you do on the day of the exam. It is going to take the average novice driver maybe three years of constant, regular driving, before he or she can then say “I am now becoming an experienced driver. Please notice the emphasis on the word “becoming”. Arrival on the Experienced Driver Podium will take much longer. I guess it really depends on the amount of driving one undertakes on a daily, weekly basis, the level of night-time driving, and also the traffic conditions during daily sorties will dictate how long this learning experience will take. To paraphrase Robert Oppenheimer, the inventor of the Atomic bomb….. “I am become a destroyer of worlds” This could be applied to many learner drivers who pass their Driving Test and then proceed to total their cars and those of other drivers in the weeks and months following the Test.

Passing the Driving Test is a combination of basic driving skills, positive attitude, detailed preparation, attention to detail, practice in the general area where Tests are undertaken and plenty of in-depth Instruction by a Driving School. The need for professional instruction cannot be underestimated and the insider information imparted to the pupil by the Instructor will give a Test candidate the best possible chance of a positive result. Many of these aspects are ignored by Test candidates and we will explore in greater detail what will be required throughout the remainder of the text. There are numerous details to be attended to during this preparation and if the candidate takes these on board with a positive focus, a good result with ensue.

We will have a look at the aspects of the car that need to be checked:-

Tires……… Tires need to be in good condition with well above legal limit tread depth and with no cuts, splits or bulges to the sidewall. The tires with the best treads should always be on the front axle and this is something that should be regarded as an essential part of your weekly technical check. Tire pressures should be according to the tire specification since incorrectly inflated tires are not only unsafe but will wear out very quickly and give an uncomfortable ride.

Lights and Indicators……All brake lights and indicators should be functioning correctly and lenses must be damage –free and clean. Its really important to carry a couple of spare bulbs in your emergency kit for last minute replacement since they can blow at any time and a failed brake light or indicator will mean that the Test will not be carried out.

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Business Turkeys – Business Eagles

Chances are that you and I both know a number of successful people in the world of business. These people are different, as they seek continuous improvement in their professional lives. I can still remember the first time I met one of them, early in my business career.

His name was Bill Sweeney, and I had been hired to serve the needs of his new sales division at Hills Bros. Coffee Company. Bill had not interviewed me, and I did not directly report to him. In this case, as in many of the later positions I held, a “dotted line” had me reporting to someone outside my official department.

The first time I met him, he stood up to shake my hand. From that moment on, I knew that he was someone special, simply because that he rose from his seat to meet and greet me. To this day, I can still visualize a piece of paper that Bill hung on the wall in his office. It looked as if it had been copied hundreds of times, but the words were still prominent as if they had just been inked onto the paper. The paper had a quote on it that said, “It’s difficult to soar with the eagles when you work with a bunch of turkeys!”

Like most eagles, Bill wanted the people that worked for him to develop into eagles. He quickly evaluated whether someone was capable enough to make that transformation (he assumed you were a turkey unless he determined otherwise).

It was never a question of like or dislike, as eagles do not care about personality. Instead, they are more concerned about attitude and business growth. Eagles are on a mission and care about preparing their young (those that they mentor) to live in the world around them.

Bill had a habit, like most eagles, of doing the best with what he had, but if things didn’t develop as they needed to, he wouldn’t hesitate to make a decision about getting rid of someone. Bill mentored me, and I learned more from him than any other person I worked for.

While I did not want to grow up to be like Bill in every aspect, I did want to grow up to be like Bill in that he was very successful, knowledgeable, focused, directed, and driven. He ran a profitable business enterprise and was highly respected by peers and competitors.

Let’s change gears now, and fast-forward to present day life. Every February since 2001 I have I facilitated a two-day life and business planning retreat for members and spouses of my Renaissance Executive Forum groups.

One of the takeaways is a small card that lists the goals that the member is to accomplish during the next 12 months. They also get a small card listing the behaviors that either they want to start, stop, or continue doing.

One member had listed on her card that she wanted to continue to “Soar with Eagles” because being around that type of person was helping her to be focused, motivated and successful. I want to share some of the traits that eagles possess.

While not all of them are at the top of the organizations in which they work, you can bet that they have a path that will eventually take them there.

Not everyone is like this. In fact, most people are not. Most people are not leaders, risk takers, visionaries, and they only live for the moment.

To the contrary, the people I am writing about—the eagles—not only take risks, but they are people who are going somewhere. They are on a mission, and are unstoppable in their quest.

Eagles are not typically found in groups, as they are often loners. They often hold a view that others do not, and seek opportunity where others see risk and failure.

Eagles have an attitude and a formula that applies to their entire life. This means that they have acquired the right skills, and have built or established a philosophy that guides their thinking.

If they lack these initial foundation elements, eagles know that they must acquire them. If they stray off course, they get back on track.

Eagles have the right attitude toward family, friends, neighbors, and business associates. This is developed by having a positive, yet realistic attitude about their own abilities, talents, passions, and preferences.

By nature, eagles are positive people who see the glass half full rather than half empty. They do not wear disappointment on their shirts or their faces. They know that in order to be successful, a person must be optimistic, and that optimism is learned.

Eagles understand that if you plan your future, it is more likely to occur than if you let the tide of time take you wherever it drifts.

Eagles know how important it is to be able to express gratitude. This is not easy for most people. It is not always easy to say “thank you”, but eagles to do it much more often than others. Eagles focus on the important things. Most people wallow in the details that simply do not matter, and they never get much done as a result.

Eagles have goals that are written down, and they strive to meet them. Eagles use latitude to their advantage. There are no bounds in terms of the ability to move from where they started to where they want to be. They understand that the key to this is to set goals that move them in the direction they want to go. \

Eagles make themselves understood. They treat people kindly, respectfully, and with consideration.

I am grateful to be allowed to fly with eagles. I think that more people have the opportunity to fly with eagles than they realize. Whether it is simply a case of wearing blinders or not being aware of what an eagle looks like, the sad truth is that these limits hinder a person their entire life.

The result is that the world they live in is, well, full of turkeys.

Ken Keller

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