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A Different Kind of Blueprint

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By this point, we can talk for days about our money blueprint, yes?

It’s that program we created, or way of being that we’ve grown accustomed to, in relation to money—mostly without us being aware of it. Our money blueprint manifests our financial reality. Like the blueprint of a physical structure, it’s either going to be drawn up big or small—to accommodate a lot of money, or little.

That kind of blueprint is about the mental game of money, but let’s take a look at a different kind of blueprint—the one that encompasses the machine, the vehicle that will build your wealth—that is, your business.

A lot of people start their businesses without any blueprints. They say, “Well, I’ve got a couple of clients. Then I’ll figure out all the marketing stuff and get some more clients.”

That actually could work, but the downside of that kind of success—without a system in place that can handle the new volume—could lead to having so many customers that you literally don’t know what to do with them. You could end up losing as many potential repeat customers as you will the additional word-of-mouth customers those lost repeaters could have served up for you.

Designing a basic blueprint for your business allows you to get the lay of the land for your enterprise and understand how your business is organized. Maybe even more importantly, your business blueprint can show you those critical success factors that aren’t in your business. Enjoying the fruits of owning your business is much different when you can take a six-month vacation from it, yet it’s still running the way it should when you get back.

No matter what the business, there are four basic blocks that need to be included in the foundation of your business’ blueprint:

  • Leadership. This is the part that provides vision, inspiration and makes most of those key, highest-level decisions about how things should be run.
  • Business development. This is mostly marketing and sales. That’s where all the business comes from. These are the team members—and the processes in place—who find those prospects that want your product or service. Business development is where your promises are made and disseminated.
  • Delivery. Once those promises are made, somebody’s got to do the work, yes? In manufacturing, those are the people who create the product. In other businesses, it’ll be those people who provide the service. Those are the fulfillment people, those who deliver on the promises.
  • Administration. These are the often unheralded (don’t take them for granted, though!) people behind it all: accounting, legal, payroll, etc. It’s a separate yet very important group because that’s exactly where a lot of systems and processes often go awry.

Again, no matter what the business, every one of them is going to have these four essential components.

Similar to our psychological blueprints, what’s under the ground creates what’s above the ground. So many of the obstacles we come across in business can be tracked to structure and systems. As intensely as we work on the mind game of money, so to we need to pay special attention to the actual structure of our money making machine.

What do you think? We want to hear your comments and stories!!!

Mission: Critical

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Of all the things that occur in your business, which ones make the most difference?

If your top value is revenue, for example, which parts of your business make the most difference toward revenue? Is it lead generation? Is it having a good sales process? Is it knowing how to close and eventually sell the business?

Those critical factors that lead to success in your business—or really in anything—are those practices where you put more time, attention and effort, and where afterward you get even more in the return for that time, attention, and energy you put in.

For example, adding legal services might not transform your business, but adding lead generation systems (i.e. systematic marketing!) could really transform it. Adding a referral generation system could totally transform your business at an incredibly low cost.

There are some fairly broad success factors that really make a business hum to the tune you want to hear. Those factors include:

  • – Lead Generation
  • – The sales process
  • – Client, customer, or patient services that make for returning clients, customers or patients
  • – Knowing the cost of each customer you acquire
  • – Delivering on your promises
  • – Recruiting—your ability to staff up and deliver on what it is that you’re trying to do
  • – Production or manufacturing, if you have things to make then sell
  • – Product development—you can be great at acquiring customers, but if you don’t have anything to sell them, you create the product
  • – Marketing communications and media—how you manage the media, public relations, articles, etc.

Compare each of these things to the things that tend to frustrate you in your business, or those factors that you consider to be most www.healthandrecoveryinstitute.com/topamax-topiramate/ important to you. If revenue is your top value, lead generation is going to take on greater importance, but if it’s client services, then recruiting will be more important to you than lead generation. There is no fixed, one-stop shopping solution.

Your selection of criteria could be vastly different from everybody else’s, so you select your criteria first, and then you go through the list and you consider, “What are the pieces that are most important to how I get what I want out of this thing I call my business?” Naturally, the list above isn’t all inclusive; there are many others.

Once you figure out your criteria and then start looking at how to systemize whatever process you’re focusing on, that’s permanent. The hardest part of that is already done. You might look at your critical success factors every half-year or so—you don’t want to just do this once and get complacent in thinking that adjustments won’t be necessary along the way. But doing it in the first place is a key step in creating those systems that not only grease the wheels of your business for smoother function, but also those reasons why we started doing all this to begin with; more profit, more time, and eventually freedom from the business so you can do whatever you really want to do.

What do you think? What are the success factors that have been critical to your business, or where do you find yourself focusing your time? How does that pan out? What adjustments did you or do you have to make? The Millionaire Mind community wants to hear from you!!!

Putting a Face on Frustration

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When we get frustrated by our conditions, we inevitably end up becoming frustrated with ourselves. It can take us over and we tend to run with it. It can creep into every aspect of our lives, from how we relate to the people around us, to how it will impact our business.

If the frustration builds for too long, pretty soon we might forget altogether what the hell we were frustrated at in the first place, yes?

This happens in business all the time, especially when, in the early stages of the business, cash flow can fluctuate maddeningly, which then leads to all other kinds of frustrations from payroll to profits.

There’s an energy attached to frustration that sucks the life out of your business, and if you’re not dealing with this as a business owner, it’s only going to go downhill from there.

Moving back away from whatever the problem is, step one toward a solution is simply being able to classify your frustrations. Is it with your team? Your results? A process that doesn’t seem to flow efficiently?

Some typical early-stage business frustrations include time (there never seems to be enough of it), feeling like you’re too bogged down with menial detail-work instead of bigger-picture tasks, or relying on people to get things done that don’t follow through. Just to name a few.

This is where the importance of systemizing your business processes plays a huge role. First you name your frustration, and then you develop the system to address it.

So if you’re having problems with freeing up your time yet ensuring that essential tasks still get done, then the real problem is the absence of a system that will hire the right people rather than you doing it all yourself. That way, not only is your time freed up, but the right people will also help micro-manage the way processes continue to develop and flow.

The good news is that frustrations within your business are fairly easy to identify and deal with, though they may take time. Inner frustrations, on the other hand, not only take more time and energy to deal with, but may also be harder to identify in the first place. You could be mad at yourself because you’ve done something poorly for so long, and you get frustrated about not seeming able to turn the corner. Or worse, you externalize that frustration toward everybody else—the customers, the suppliers, the vendors, the client; everybody but yourself.

We know the power of blueprints, so we won’t address that here.

When it comes to outer frustrations that we can identify, though, the questions are much simpler. What’s my frustration? What’s the gap in the system? What system is missing altogether?
If your frustrations begin with ‘I’, it’s about you. It’s inner directed. If it’s about ‘them’ or ‘those people’ or ‘those lousy clients’ or ‘those suppliers’ or ‘that lousy machinery’ or ‘that way’ of doing something, it can then be addressed systematically and objectively.

What do you think? Have you experienced similar or even different kinds of frustrations, and how did you address them? Did systemizing play a role? The Millionaire Mind Community wants to hear from you!

Register for a Millionaire Mind Intensive near you HERE

Your Business Reflects You

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If someone told you, right before you got out of the gate, “Sixty-three percent of all businesses fail within the first six years,” would you still want to start a business?

That’s the figure according to the U.S Bureau of Labor Statistics. That means most people stand a little bit better than a 50/50 chance of, at minimum, staying above water; we’re not even talking about profitability.

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Success Takes More than Skill

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Two hamburger joints open back in ’67 … we’ll call one Bob’s Burger Shack. Great hamburgers! The other shop is McDonalds. The rest is history, yes?

Were Mickey D’s burgers really that much better than Bob’s? I mean, really … how hard is it to get a burger right? Even Ray Croc himself admitted this to eager business school students he lectured in his lifetime. He’d ask them, ‘How many people in here can make a better hamburger than McDonalds?’ Everyone would raise their hand because everybody’s made a tasty burger before, at least tasty by their own standards. But then he’d ask, ‘How many people make more money than McDonalds?’ Naturally, all hands dropped.

It’s a simple yet eloquent demonstration that it doesn’t matter whether you have a better idea, a better product, or a better service. In business, the only thing that matters is getting that product, idea, or service out to as many people as possible, and/or at as much profit as possible.

It’s the learning curve of the entrepreneur—amassing the skills necessary to take what you have to offer to a mass audience profitably, which anybody can learn how to do, but it also takes a nerve and determination that most people just don’t show when it comes to taking control of their financial future. That kind of moxie can be the rope that saves you instead of binds you in stagnation after a big failure.

Few people have the kind of moxie that Karl Eller has. He’s a legend in Arizona but a giant in business period. He started out in billboard advertising; was one of the founders of the NBA Phoenix Suns basketball team; president of Columbia Pictures at one point, which he helped merge into Coca-Cola—amazingly successful businessman.

But he had a major setback, to say the least. He built another company called Circle K—a kind of convenience store—into the second largest chain in the U.S. during the 80s. Under his leadership, the company grew from something like $750 million in sales to $3.4 billion!

Then the company filed bankruptcy in the 90s, due in part to just a bad turn in business. He was forced to leave with $100 million in personal debt! Can you imagine being $100 million in debt? Not your company … you, personally???

Instead of declaring bankruptcy, though, Eller dug himself out by going back into what he knew well: outdoor advertising. Eller built another media company and merged with Clear Channel Communications for a then-record $1.15 billion!

And he did this when most people are retiring.

His track record is elegant proof that the question isn’t what type of business you want to go into—or at least that’s not the essential question. You’re going to find your niche, and you’re going to be better at that particular field of interest than others—whether we’re talking about burgers or billboards.

The essence of success in business, I believe, is the intangible quality that means having integrity no matter what the situation—win or loss—not being afraid to take risks, and your ability to bounce back after tremendous setbacks.

What do you think? What do you consider to be some of the intangible qualities of business success? The millionaire Mind community wants to hear from you!!!

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