Lockdown, ups and downs!

So, how are you doing? Is your answer usually one of the following?

Is it dreaming about success that keeps you awake at night? If so, you’re just like me and every other true entrepreneur. The business ideas, the lifestyle dreams, the people you could help, the lives you can change. Having the ideas and the vision is only the beginning, but a vital part of the process. So how do you take those dreams and make them a reality? "The million dollar question, literally!" There have been so many books, films, courses, systems and groups dedicated to the theory of success and I have studied many of them. And yet, despite a good proportion of this material having valuable content, the percentage of people that consume it and then achieve success, is small. Why do you think this is, and has this happened to you? Some will argue that time is the issue, some will make other excuses like money or lack of support, some will even blame the government or their family! Well, there is one fact in my observations, that will be the foundation of your success. It will underpin every decision you make, every action or non-action. Without it, there is NO CHANCE of success. "Responsibility." Taking full responsibility for everything that happens to you and all of life’s situations. If you do this, you will know that your actions influence your outcome and even when things that happen appear to be beyond your control, taking responsibility is key. This may sound counter intuitive as “taking the blame” for your situation can be hard and if you’re not ready to accept it, can cause you all sorts of issues. However, when you are ready to embrace the fact that everything that happens to you is either directly or indirectly your doing, then you can begin to pivot with speed and keep your course to success on track. The alternative is to blame others, host your own “pity party” (thanks to Zig Ziggler for that little gem) and never take the steps needed to increase your chances of success. This is explained in detail in chapter 6 of The 10X Rule by Grant Cardone. “Successful people accept very high levels of accountability” and then goes on to say, “Those who give their control over to another for their success, or lack of success, will never be in control of their lives or their futures”, wise words in my view. So ask yourself this. Have you ever blamed your circumstances or someone else for the undesirable situation you find yourself in? When you can adjust your thinking and accept responsibility, you’ll be amazed at how much more action you can take and finally you’ll have the foundational thinking in place to achieve your dreams. Then the really hard work begins!

This week I had the pleasure of interviewing entrepreneur, Rob Pendleton from Pendleton Global, whom I found fascinating as he has seen both sides of the business spectrum. His early career was as a high flyer with PWC where he developed his in-depth knowledge of business growth and helped HUGE businesses all over the world build refine and build their systems for growth. Fast forward to today and Rob is now the founder of Pendleton Global, the business growth experts who help small businesses scale and achieve their potential using the principles honed in the corporate world. The part that really interests me is that Rob gave up an extremely well paid corporate job, in favour of starting his own small business in, initially, the travel and tourism industry. Getting to the bottom of “why” he did this is pretty complex as it is for most entrepreneurs, but ultimately it comes down to this. "If you’re an entrepreneur at heart, working for someone else will NEVER satisfy you, no matter how much you get paid." A quote that sums that up for me is thanks to one of my entrepreneurial hero’s Grant Cardone: “ As long as you are alive you will either live to accomplish your own goals and dreams or you will be used as a resource to accomplish someone else’s goals and dreams. ” Grant Cardone, 10X Rules. Rob’s dream was always to run his own global coaching network, using his patented system “The Business Waterwheel™” but he knew to be credible he needed to run and sell a couple of small businesses himself. The big goal was always in his mind and when he had finally had the experience of building and exiting his own creation he knew he was ready. Due to this mindset, I asked Rob about this and he gave some really insightful responses that you can see by watching the full interview here . If you are thinking of starting your own business, I’ve also recorded a 10 min video for you showing the three main secrets you should know if you are thinking of trig the plunge and beginning your entrepreneurial journey. Although, as per the sub-title, my experience tells me if you are still reading this, you probably already are, you just haven't started yet.

Over the last few years I've helped hundreds of people through the early stages of starting a business, and I'd like to share an observation with you that I know will be of interest if you are thinking of taking the plunge. Firstly, hats off to anyone who pulls the trigger on starting a new business. It's still an immensely inspiring conversation to have the first time I speak to a brand new business owner, usually, the enthusiasm is palpable along with a good dose of nervousness and optimism. In this first few weeks of trading I've noticed some commonalities between people that never end up making a success and those that smash it. So if you are thinking of taking the plunge and beginning the life of an entrepreneur, I'd pay attention to this. Procrastination. We all procrastinate to some extent, the key is realising this. Procrastination comes in many forms and just because you are busy, it doesn't mean you aren't procrastinating. All too often, with the new start ups I work with, they keep busy with tasks that they kid themselves into thinking are what they should be doing. However, just because they are doing "stuff" it doesn't mean it's the right "stuff". An example would be spending too much time trying to think of every eventuality that could come up in a sales presentation instead of booking the presentations in the first place. I see this one a lot. The fear of feeling embarrassed in front of a prospect because there are questions that they may not be able to answer stops them from taking the action required. So instead of taking meaningful action there's more learning, training, faffing about with systems, etc etc, instead of the work that is actually going to make them money. Successful entrepreneurs however don't wait, they throw themselves in and figure it out as they go. They still have the fear but they use it to educate themselves whilst they are learning how to make money too. So what is the solution to helping more entrepreneurs be like the action taking group? I've thought about this A LOT and that's why at BLAM! we've built a system that means that our partners follow a path to making their business successful. This stops the excuses a tracks the actions. It focusses around these three stages: 1. We have a certified training course that needs to be completed in an agreed amount of time. 2. Next we have an accountability system that tracks actions that lead to success. 3. Then we have ongoing support, mentoring and training through our entrepreneurial community. So, the key to avoiding procrastination (which really is the key to success)? Accountability to your actions , it's simple but effective. If you want to learn more from entrepreneurial advice be sure you've signed up to BLAM! Academy here , it's FREE and a great resource for budding entrepreneurs or business owners alike.

Most Sunday mornings I have a ritual of sitting downstairs on the sofa before the rest of the family is up and running through my personal finances. Sometimes it’s a great thing to do, other times not so good! Either way it helps me plan for the family treats, holidays, future investments and ongoing expenses. Why do I do this? Here’s my theory… Over the years I’ve had many ups and downs in business with impacts hitting my personal finances often. This is because as an entrepreneur I’ve used my own wealth to fund my business adventures which has sometimes left the well dry, and other times given me spare to play with. Over all those years my attention to my own money hasn’t always been the priority. Being an entrepreneur is often curse, getting so entwined in the business that risks are taken with your own personal finances, sometimes leading to scarcity, other times leading to abundance! It’s a common thread. Many entrepreneurs I have interviewed and mentored will have a similar story. Part of the DNA of an entrepreneur is that “risk taking” gene, the gambler within, that sees the big win at the end of the game. "Part of the DNA of an entrepreneur is that 'risk taking' gene" Looking back over my life, I notice that when I pay more attention to my own money, even when things aren’t going so well, it pays off. A big influence in this thinking for me (I wish I’d read it in my youth!) is a book called “The Richest Man in Babylon”. In it the author, George S. Clason, describes a theory for personal wealth that is as true today as it was centuries ago when the system was first defined. In brief the system shows how, by putting away at least 20% of what you earn every month (as well as paying your taxes), without exception, the money will grow quicker than you might imagine. It then goes on describe how you manage that money and use it to make even more. This saving system may sound obvious! However, although I’ve done this for many years, the trick is not to use the money you’ve saved on a project where you could loose it all or end up using it for day to day living as you haven’t been paid (guess who’s done this a few times!). I now work with entrepreneurs most days, from start ups to successful $1m+ t/o business owners and it’s a subject I focus on often. It is very common for entrepreneurs to prioritise their own money last, as they are looking at the bigger picture of when they are smashing it with their new super successful business! There is a school of thought that says in business “pay yourself first”. I would add that when you do, put your 20% away 2nd and in the long run the wealth will come, slowly but surely. There is definitely an art to this, some master it sooner than others, I’ll let you know when I do!

Debating the difference between an entrepreneur and a business person