When you started your business, cash flow issues were not on your radar. It was just you, a few tools and supplies, and every job made a profit. No office, no overhead, no problems. And life was good.
As the business grew, you started buying things and taking on expenses. You bought a nice truck and a set of tools. You invested in a new computer and some expensive software. You really thought you had made it big when you got your first office. Then came the employees, insurance, workers comp… Need I go on?
The funny thing about business is that sometimes the bigger it gets, the less money there is. The dreams you had of making it big time slowly turn into a weekly struggle to pay the bills. That leads to stress at home and in your business.
If you are a leader of people… or if you simply work with other people… you know exactly what I am talking about! Constant misunderstandings, conflicts, and failures to communicate kill productivity and drag the bottom line down with it. At the end of the day, you feel like you are running an adult daycare instead of a legitimate business.
Each person on your team is motivated by something. There are unique drivers for every individual that causes them to value the things they value, communicate the way they communicate, and work the way they work. If you can unlock those unique drivers, you can unlock the secret to building a cohesive team that succeeds together.
A major source of stress is the money you owe to other people. As your business grows and your overhead expands, you become more leveraged. Financial freedom creeps further away with each employee you hire and every asset you buy. Sound familiar? Most business owners believe that leveraging debt is the only way to grow. […]
A business is simply an organization created to carry out the dreams and ideas of the entrepreneur who begins it. Everything good and everything bad about a business is a result of the leader’s perspective and actions. Everything rises and falls upon a leader. For a business to be healthy, balanced, and growing… the leader […]
So here is how it was for me. I began my first business for one main reason, money! At the time it never crossed my mind that there should be anything more than that, I mean why else would you work so hard, sacrifice so much time and take such risks unless for the money, […]