Company of One: Recent Episodes
Dale Callahan
What should you quit doing? As we move into a new year, I have found many of my clients planning to do more and add to an already busy schedule.
But I want to challenge you to think about what you should quit. What should you quit doing?
Relationships that are not productive
Dating relationships Employees Employers Friends
Habits that you have formed that are destructive Activities that are not getting results
Work activities Workouts Marketing Nighttime habits
Social media Watching/Listening to the News
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward Triggers: Creating Behavior That Lasts – Becoming the Person You Want to Be EntreLeadership Get Clients Now! (TM): A 28-Day Marketing Program for Professionals, Consultants, and Coaches Five Signs That it’s Time to Quit Your Job
So, are you the burger flipper or the boss?
This is a question I ask my kids often.
If you are a burger flipper, you do not have to think much. You just wait and do what you are told. You can be totally unengaged in your work. If you are the boss, you have 10,000 decisions to make. Everything hinges on you. You have to be self-driven and engaged else nothing happens.
It is all about ownership and engagement.
I hear a lot about engagement. Employers want to do everything they can to engage their employees. At the university, we want to engage our students. Why?
Engagement means money and productivity. Engaged customers and audiences are great for marketing. Engaged employees are great for morale and productivity.
Engagement is directly related to profit.
How to Create Engagement in Others and Me
The problem, according to Marshall Goldsmith in his book Triggers (Triggers: Creating Behavior That Lasts - Becoming the Person You Want to Be), is that engagement is not something we do to people. Engagement is something they do themselves.
Anyone who has ever done any coaching (of any kind) will tell you that the coach's job is easy and rewarding if the person being coached wants to learn. You cannot make a person work harder or perform better if they do not want to do so. You have little control. This is why coaches only want to work with motivated people. (And I will say faculty only want motivated students.)
So how can we get people more engaged?
According to Marshall, we should stop asking passive questions and instead start asking active questions.
Passive Questions
To understand active questions, you need to understand passive questions and the human response they get.
We have all been asked to rate ourselves or our team. We often get questions like "Do you have clear goals."
That simplistic question is charged with meaning based on how we interpret the question.
First, if you read the question as "does my boss or company provide me clarity in what I should be doing from day to day", then your answer is likely to be negative. Most of us do not feel like we have clarity from above. So, when this question is put into employee surveys, the leadership of the company or team is often frustrated by the response. You will hear them (or you) saying all kinds of things like
How much clearer do I need to be? We have discussed it over and over - what are they missing?
and similar ideas.
Active Questions
But Marshall pitches a second way to interpret the question that yields much better results and engagement. He suggests using active questions such as "Have you done your best to set clear goals."
This question turns active by using the "Have you done your best..." at the beginning. It is a powerful mindset shift that forces the reader to take responsibility for the goals as opposed to being passive and waiting on when to be told what to do.
This is why I ask my kids about being a burger flipper or a boss. One is passive, the other - the boss - is active and engaged. In other words - the boss is taking ownership.
Every employer (including you) wants self-driven people. We want people who are taking responsibility. Heck, even the manager of a fast-food restaurant would prefer self-driven burger flippers!
Using the active question with the "Have you done your best..." lead-in helps to drive the individual to think "Oh, this is my responsibility.".
Why Active Questions Work
Questions asked properly are powerful. The reverse interview process I use often uses questions that get others to talk about themselves - a trick I learned from Dale Carnegie in How to Win Friends & Influence People. Proper questions are also powerful in marketing messages when they cause you to internalize desire or pain.
So active questions turn the attention to you and your own responsibility.
To take responsibility, we have to have skin in the game.
Quit being a pawn. Stand up and fight back. As you might be noticing yourself, nobody is listening. We have quit talking and turned instead to yelling at each other. And, if nobody is talking, who is controlling the conversation? I have been watching what is going on in our country (I am in the US) for some time. We fight. Nobody is talking anymore. Everything is charged. We all think we have opinions and are fighting for the truth -but we are just being used. They want us fighting against each other. They want division. We are stepping up and marching to their orders.
We fight about issues such as politics, global warming, abortion, the second amendment, etc.
But nobody is listening to me, or to you, or to anyone. We are just fighting.
On TV "news" shows we see the news as one-sided. Even when they talk about having a discussion - it turns into insults and yelling. In the printed media, it is all just opinion laced with a few facts to make their care.
And social media - that is the cesspool of it all.
They tell us to get along - but is that what they really want?
I do not think so. They want us to fight. They encourage it.
Truth is - not matter what the issue - you and I likely agree more than we think.
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Global warming is one issue.
Nobody wants dirty air or water or an out of control environment. We all would agree we need to be responsible. We might differ on what that means or who pays - but if we talked through it we would likely come up with something solid.
But we don't because they do not want us to.
They want us fighting.
Who are they? I do not know - but they are not the media or the politicians They are all pawns.
They are not the voices on social media - they too are pawns.
They are not even many of the world leaders - they are pawns.
People like Donald Trump and Bernie Sanders are with them - which is why the "system" turns against both. Both men have far different views of things - but both hated by them equally because neither man plays by the rules.
Quit being a pawn
How? Start talking to one another. Get off the social media, sit down, care about others, and talk. We are more alike than we are different.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
A conversation I often have with parents is something like this: "College? There Has Got to Be a Better Way". College is like a money pit and does not offer such a powerful tool to create wealth and security as perhaps it did. In fact, if chosen poorly, it generates the opposite.
So today, I want to dive into the issue a little deeper and explore some thoughts. College? There Has Got to Be a Better Way The college experience has some issues that often go with it.
massive debt wasted time opportunity cost converting good thinking kids into - well, something else (garbage in and reprogramming)
Yet as parents, we only hear of a few alternatives
Military Trade school Living in the basement forever
The truth is, we want for our kids the same thing that the college experience used to really offer. We want
Opportunity to do anything they like Ability to earn and prosper Success on their own terms
So to think about this, let's start by unpacking what college does still offer
A plan - course plan to get a degree that maps to some career Measures of success - classes and grades Accountability - timelines, deadlines Credentials - diplomas showing success
Now the question is, how do we get this without college? Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review,” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
148: Can You Become an Engineer (or anything else) without a College Degree [Podcast] 016: How to Measure the Value of a College Education – A Do-Over! [PODCAST] 145: Does it Matter Where You Go to School? [Podcast]
Moving from tech expert to leader in your organization can be tricky. Scientists, engineers, developers, architects, and many other experts move into leadership positions every day. Many companies expect this transition to take place. But other companies do not see tech experts as leaders - just as tech experts. It is kind of a new "blue-collar" thinking. Either way, the transition is not always easy.
Leadership positions come in many flavors, but the first moves are often as team leaders - where you are still on the technical side of things but you lead the activity of your peers. Project management or product management is another common path toward higher leadership positions.
Over the last 20 years, I have been coaching people into leadership - usually out of tech positions. Most go rather smoothly once the new leader to-be understands the game. But too often, the tech leader resists the change and new responsibilities and fails to grow.
So in today's podcast, I am going to provide some observations from coaches who have helped tech experts makes the cut in leadership. Moving from Tech Expert to Leader Steps to move from tech exert to the leader.
Make a decision Make it known Begin to learn Think like the leader now Be willing to let go
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
156: How to Lead at Work When There is a Leadership Void
My Most Popular Podcast Episodes tell a story. The story is not about me, but more about you. What topics catch your attention? What are you most interested in hearing from me? What are you struggling with? Where do you want answers or insight?
My Most Popular Podcast Episodes Below is a list of my most popular episodes. When I put them together by category I get this...
Topic #1 - Getting a job - 3 posts
Topic #2 - Excelling at work - 3 posts
Topic #3 - Productivity - 1 posts
Topic #4 - Starting a company - 2 posts
While this meets the Company of One mindset (you are all of these things) it is interesting that the tops are still about getting a job and some of the less popular are others about starting a company.
So where do we go from here? Email me at dale@dalecallahn.com or post to my Facebook. Would love to hear your thoughts?
http://www.dalecallahan.com/reverse-interview-questions/
http://www.dalecallahan.com/overcoming-the-fear-of-making-mistakes-at-work/
http://www.dalecallahan.com/how-to-conduct-a-reverse-interviewe-interview-a-guaranteed-method-to-find-a-job/
http://www.dalecallahan.com/115-need-business-license-podcast/
http://www.dalecallahan.com/how-to-read-a-book-in-30-minutes-or-less/
http://www.dalecallahan.com/064-4-common-mistakes-made-in-the-informational-interview-podcast/
http://www.dalecallahan.com/do-i-need-a-business-license-or-llc/
http://www.dalecallahan.com/067-how-to-be-happy-at-work-even-if-you-hate-your-job-podcast/
http://www.dalecallahan.com/059-five-ways-to-deal-with-office-politics-podcast/ Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
Waiting on leadership to show up and take action can be one of the most frustrating issues in corporate America. More frustrating than a bad tyrant of a boss is the absent boss. At least with that tyrant, you might learn what to expect. When absent and you are waiting - you often spend your days in frustration not knowing what matters and what should be let go. In episode 156, I dealt with how you can lead if you have a leadership void. The reason for that podcast was because I find myself with so many clients who find themselves leaderless. My first take when leaderless is to find a way to step up and lead - if even on the small things.
But unfortunately, that does not always work. Sometimes a lack of a leader just leaves you frustrated. Lack of Leadership Here is the situation. You have a job to do, but nothing clear about what matters. No one is calling the shots. You have asked the person who is filling the role (often in a temporary role) and get nothing. You are being told by management that things will change soon. They will fill the slot, hire new people, move things around, etc soon. But as you wait for change, you become frustrated and restless.
But I have found that this is sometimes not even possible. So what do you do?
What must be done? You know the drill, you know the things that have to get done. Make sure they get done. Find ways to contribute during the leadership void. Look around and ask other team members how you can help. Do what you can do. Look for new opportunities inside the organization. Use the reverse interview to connect and learn from others. Look outside. After all, the leadership void is brought on by poor leadership overall. Be willing to look outside. Doing some reverse interviews just for the fun of it can really open up the doors. Again, use the reverse interview to connect and learn from others. Set a deadline. What is your drop-dead point for putting up with this? Are you willing to coast and do little to nothing? Or are you going to give it six months to work out before you leave?
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
Make money online will help you see the quick and dirty methods of getting started in a side hustle without spending much (or any) money.
The video from the presentation is below.
Make Money Online - Outline 1. Find an idea How to find a simple idea that fits you.
- Find a platform
How to use common platforms with lots of traffic to get noticed
- Do the work
Setting up some platforms.
- Action TNT
Continue to grow. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How much should I be spending on my business? Like all other things in life, modern businesses tend to overspend, Especially small businesses that are not making money yet. I constantly am running into startups who are "investing" money to help the business grow. But, too often, they are only growing in the wrong direction.
Instead, it would be best if you focused on spending that will generate sales. Too many people are spending money on things that will likely not move the needle. Perfect tools that are overkill. Logos design. Software that is way too big for the budget. Focus instead on spending money on things that will impact your customers.
So let's step back and examine who you should be spending - and on what. How Much Should I Be Spending on my Business 1. Marketing Spending money on marketing is usually the biggest issue that will have the greatest impact. Whether the money is via ads, help to do calls, of just your own time connecting and marketing your business. This is number one for a reason. If you have no income, use a budget of about $10 per week for marketing. If you have more to invest, push it to $100 a week. As you get income, keep marketing as a top expense. Every industry is different, but I like to keep at least 10% of the revenue to use for marketing and advertising. 2. Legal issues If your business is a threat to get sued or to have an injury, you need to spend the money upfront on getting protection. See my post on Do I Need a Business License or LLC?. As a rule, I would expect to pay no more than $1000 for this protection (and the insurance) if you need it. 3. People When it comes time to get some help, spend the money on the right people, doing things cheaply (or yourself) is often wasted time and money. Tools like Upwork will help you find the right people for the right price.
Some Places to Save Money
Quit trying to operate like people who are way ahead of you. Find ways to do the work cheaper. Quit focusing on minor issues. Use the tools you already have and hack them.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Webinar: Make Money Online: Business Ideas You Can Start from Home Do I Need a Business License or LLC?. Upwork
Five reasons you should consider an online business. I spend a lot of time trying to help people like you start something on the side. (Why You Need to Start Your Own Business Now.) Join me Oct 14th at 6:30 PM Central
We will do a webinar on this subject of Make Money Online: Business Ideas You Can Start from Home live on Oct 14th at 6:30 PM central. Of course, after that, the recording will still be there. Five reasons you should consider an online business 1. Everyone needs a side income In Ep 32: Why You Need to Start Your Own Business Now, I explain that everyone needs a second (or third) source of income. 2. Costs little to start Compared to almost every other business, an online business is cheaper to start, maintain, and market. The risks are just low. Expect to pay from zero down and zero per month to just a few hundred dollars a month once you get moving. But you should at very least always break even! 3. Gets results quickly. A simple way to test ideas Using other platforms like eBay, Etsy, and Amazon (to name a few), you can tell if your products and services will hit a nerve. You can test your teaching on Udemy, test your consulting or freelancing skills on Fiverr or Upwork, or test your creative and hobby sales on Etsy. Just so many ways to dip your toe into the market to see if you like it and if you can sell it.
- Does not interfere with your day job
You can work after hours and does not impact the amount of money you make. I have friends who have businesses that made over $200k per year with them working only after hours and on the weekend while keeping their day job.
- Easy to scale.
To go from a small storefront to a larger one costs a lot of money. Same for opening a second store. But to scale an online business is easy and cheap. You can move from selling on eBay or Etsy alone to your own website for a few thousand dollars (or cheaper if you have some skills) Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Ep 32: Why You Need to Start Your Own Business Now Webinar: Make Money Online: Business Ideas You Can Start from Home
The five signs that it's time to quit your job are easy to see from the outside. But often in the middle of the beast, we have clouded judgment. Here are the five signs you need to go, and some ideas of how to deal with things if you need to stay. Five Signs That it's Time to Quit Your Job
There is no growth path for you.
You do not fit what they want to promote. You are at the top of where you can be.
The company does not want to grow. The company is dying slowly (or quickly). The culture is negative.
You are being discriminated against. There is no one you trust in the organization.
You are no longer passionate about your work.
What if you Need to Stay?
You might be near retirement or a significant milestone or have a huge benefit from staying the course.
Do your job and look for paths to grow for your future gig. Take on some new job in the company as a distraction to get rid of boredom. Start a side gig to get your mental energies flowing.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today, so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward
Today we discuss 7 things I have learned from being an entrepreneur. While there are many courses, especially in universities that teach entrepreneurship, I have found a lot of what they talk about and teach to miss the point. The academic model of entrepreneurship just does not translate into the real world if you really want to make money.
So today - let's talk about seven of those things. 7 Things I Have Learned from Being an Entrepreneur
Execution is everything. Action means more than plans. You cannot determine how your customers should spend their money. Broke people are not really broke. Niche market products are better. Think about My Pillow. Money is the easy part. Marketing is more important than the product. Prospects lie, customers speak the truth.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Our Ugly Startup Story – How we started our business (It is not glamorous – so be ready) The 15 Minute Business Plan for Your Startup Why You Need to Start Your Own Business Now Multiple Streams of Income Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Using love as a business strategy might seem like a strange title - especially coming from an engineer. Generally speaking we technical people are pretty much just the facts. The talk of soft skills and focusing on people makes me squeamish - so to start talking about loving your customer is really a leap - for me anyway. Over the past few months, I keep hearing pastors talk about being called to love one another. Yes, if you look that up in the Bible - you might find it a time or two - so not really a surprise to hear it. But perhaps I just now have started to hear it clearly. So I have been thinking - what does this mean for me as a university faculty and business owner.
We have been talking a lot about this inside the business - so much that "love the customer" is becoming a theme. Using Love as a Business Strategy Loving the customer means...
Loving your customer means knowing your customer. Loving your customer means tuning into their frustrations and needs. Loving your customer means treating them like you would want to be treated. Loving your customer means people come first.
Some observations
We like them more. Sales are up. Everyone is happier serving them. Loving them does not mean they want it for free.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Theft of America’s Soul: Blowing the Lid Off the Lies That Are Destroying Our Country Love Is the Killer App: How to Win Business and Influence Friends How to Win Friends & Influence People This Is Marketing: You Can't Be Seen Until You Learn to See Ep 132: How Being a Christian has Made Me Wealthy
Want multiple streams of income? How would it feel not to be 100% dependent on just your day job income? Today we want to dive into streams of income that others use to smooth out the edges as things get rough - and in 2020, everybody needs multiple streams of income! Develop Your Multiple Streams of Income (MSI) Here are some of the more popular categories others use for diversification of their income.
Your Day Job - Never forget to focus on this income source. Providing service through a third party - Pizza delivery, shopper, Uber driver, Amazon driver, UPS, or another delivery driver.
Pros - They do the marketing. Cons - You have little control over what you do.
Consulting/coaching service - Fiverr, Upwork, etc. - This is the easiest thing to do where you have a little control over what you offer.
Pros - It is easy to get started. Cons - Takes your time to deliver the service.
Home services - From yard work, small repairs, pressure washing, cooking, cleaning, closet organizing - something for everyone here.
Pros - We all have something to offer. Cons - You have to work on location.
Creating Intellectual Property - Udemy, teaching, writing books, etc.
Pros - Recurring income and some platforms help you market. Cons - Can feel daunting to start. No money flows until you are complete.
Real Estate Rentals - Cost more to get started and can be a long haul to start to win.
Pros - Can be almost passive. Cons - The higher cost to get started.
Buying a Business
Pros - Can generate much higher returns than others. Cons - Takes time to work a deal and can turn into a lot of cash.
My MSI
Stocks - The biggest win for growth. Little maintenance, significant growth. Not something that many start with. E-Commerce - The most money and the easiest to ramp up or down as I need Real estate - This is steady money. Houses paid off. Good renters. Maintenance a constant issue but comes and goes. Online courses - Steady income with almost no maintenance activity. Books - Money goes up and down at times, but again little maintenance activity. Affiliates - These are products from other companies I sell and they ship. Amazon is one. Others are companies that have products which complement my own products. Coaching/Consulting - Professional startup and career coaching and business consulting, mostly involving organizational and process improvement. I have never focused heavily on developing this path - but the work is enjoyable.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Fiverr Upwork Udemy
My Reading List for 2020 is a collection of ideas around the topics of success, money, work, time management, and how to think apart from the crowd. All in no particular order. My Reading List for 2020
Atomic Habits The Greatest Salesman in the World The Compound Effect I Will Teach You to Be Rich Rich Dad Poor Dad Thou Shall Prosper Financial Intelligence Deep Work
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
How to deal with a setback...
That is a question we all encounter from time to time.
Setbacks look like a lot of things:
Job loss Project failed Demoted Did not get the job you hoped for
How to Deal with a Setback
Own it - take 100% responsibility. Placing the blame is great - but it takes you out of control. You have become a victim, and you cannot change the circumstances. We want to blame others because
Politics Discrimination Stupidity Relationship issues
Write down the thoughts - How do you feel.
I lost this job and will never get another good job again. I was overlooked for the promotion because they found me out - I have hit my peak. Since I am [black, white, male, female] I will never get ahead in this [industry/company]
Write down the reality - What is more likely the truth.
I got this job, can get another. I know more now. I am more valuable. I have learned more and can do more - if I want to. Do I? Others who are [black, white, male, female] have done remarkable things in this [industry/company] - so can I.
What has this failure offered you?
Freedom to explore Opportunity to reset Get some training.
Improve the situation - Define some steps you can do to improve the situation
Job loss - Stop and define what you want now. This setback is a chance to reset. Overlooked
Get my head in gear and ask for mentorship and help from my leadership. I must be missing something. Congratulate the person who got the job over me. I might be their boss soon!
Failed project - What can I do to improve on the situation? Get the team together to come up with a plan.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Stop Worrying and Start Living
When it comes to your financial success at work, it is all about the money. Yet, in the United States, over 70% of the population lives paycheck to paycheck - barely making enough to make it through the month. I can only assume this is true of most other countries also.
And - the amount of money does not matter. People are living in poverty to those who should have - based on their monthly income - plenty of money.
As I have worked with entrepreneurs - and wannabe entrepreneurs, money is often the trap keeping them from taking the leap.
But as we look back at the roles in your Company of One, the financial role is a big one. Their Chief Financial Officer or CFO.
I usually refer people to Dave Ramsey or I Will Teach You to Be Rich to learn these concepts, but too often, I find myself in conversations with coaching clients where I have to teach them some basics about money.
So today, I am picking back up on your Company of One - and diving into the role of your chief financial officer. It's All About the Money
The number one thing keeping us from being free is bad decisions with money. Simple rules for winning with money:
Have a plan for your money (spending plan). Pay yourself first (The Richest Man in Babylon) Get rid of the debt (See Dave Ramsey and I Will Teach You to Be Rich
Avoiding the number one trap - comparing yourself to others.
Realize the truth - many people are lying about how much wealth they have. Some people are temporarily wealthy. They have short term wins they think will last forever. Truly wealthy people do not need to prove how wealthy they are. The truth will always come out sooner or later.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Richest Man in Babylon I Will Teach You to Be Rich Dave Ramsey
Previous Episodes on this Topic
The Company of One Model
Episode 174: Grow Your Own Company of One Episode 175: The Three Kinds of People at Work. Which one are you? Episode 176: Seven Things You Must Know About Your Boss
Your Chief Operations Officer Role
Episode 177: Become Better at Your Job Episode 178: Three Tools for Powerful Focus and Incredible Results
Your Chief Marking Officer Role
Episode 179: 17 Ways to Market Yourself Episode 180: How To Calculate How Valuable You Are To Your Boss Episode 181: How To Become More Valuable To Your Boss Episode 182: 11 Steps to a Better LinkedIn Profile for Marketing Yourself Episode 183: Use Your Curiosity to Market Yourself on the Job
Ready for some business ideas you can start from home?
I get asked all the time for ideas - so today, I just wanted to share a few of them to help you see what is possible. Business Ideas You Can Start From Home
Coaching families or kids
Sports training Tutoring Health care for kids with special needs (like food allergies)
Consulting for small businesses
SEO Social media Payroll Bookkeeping Support Shipping Tech support Customer service
Ecommerce site
Sell products you make Become a value-added reseller Create online courses
Sell products on eBay or Amazon Freelance your services - Design, writing, copywriting
Get started Now
Start with the easiest product or service - Do something you do anyway. Start the easiest way - Use sites like Shopify, Amazon, or eBay to sell your products. For courses, use Udemy. Start now - Just do it now. Start imperfectly - Forget polish. Just post and then edit later
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
Is overcoming the fear of failure in your side hustle something you have been thinking about? It should be. That fear of failure is likely holding you back and keeping you from making the bold moves you need to make.
Want help in your side hustle?
Schedule Your 45-Minute Discovery Session with Dale Overcoming the Fear of Failure in Your Side Hustle 1. Identify the fear. Put it in writing.
Failure Looking stupid Doing the wrong thing Making the wrong decision Wasting your time and getting nothing of it My idea has already been done I do not know enough.
- Speak the truth about the fear
What does failure mean? Quitting and trying something else. No big loss. The only people who think you are stupid are those not doing anything. If you are going to operate as an entrepreneur - or anything out of the norm, you may look stupid to others. What this means is they think you are not acting normal. Good. Broke is normal. Hating your job is normal. Being frustrated with less income is normal. Not taking real action is normal. Do not be normal. Decisions are not black and white. Which marketing approach do you use? May not matter, just start and commit to something (Check out Get Clients Now!) Wasting your time? What would you have done anyway? Watched more TV? I mean, most of us are underutilized. We call ourselves busy - but much of what we are busy doing does not matter. Much of our business is our own decision. Groups we are part of. Activities we have volunteered for. And when a business does fail, most will tell you it was not a waste, it was step 1 of the right path. Your idea has been done. It is guaranteed it has been done. In fact, you hope it has. You hope other people are selling products and services like yours. That means - other people are spending money on products and services like yours. This is a good thing. If they spend on others, they are more likely to spend on you. When will you know enough? Does it really matter? You just need to be able to help people who either know less than you or who just want help from someone so they do not have to do what they hire you or buy your product to do.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Schedule Your 45-Minute Discovery Session with Dale Miracle Morning Podcast #333 Get Clients Now!
Ever take a course on how to make money? Did you find it awesome and frustrating at the same time? A while back I got a random phone call from a woman in New York. I have no idea how she got my name or number, but she said that she wanted my help. She was trying to get a business started so she could replace her income at her $60,000 per year job. But she was having no luck. She said "I have spent $12,000 trying to learn how to start and grow a company. Nothing has worked. I have bought books and taken courses at $2000 a whack. I am overwhelmed and still no income." Most of my coaching clients will say something similar. I will mention marketing from some pros like Amy Porterfield, Jeff Walker, or .... so many others. These clients do not doubt that what Amy, Jeff, and the many others teach works - but they are overwhelmed with the amount of work they have to put into an unknown. They also get new information daily via a blog post or Facebook ad. What do they do? How to Make Money without Information Overload to Profit 1. Define clearly what business you are in.
Who do you want to impact and how? 2. What is your initial goal? Forget things like $10,000 per month or to quit my day job. These are fine as goals go, but in startup mode, you need to think shorter term. What is the test going to look like? Real goal examples:
Get two testimonies from happy customers Generate 10 phone calls with prospects Generate and ship my first 10 sales Get 10 people to sign up for my webinar or workshop
These are all small starts - and be glad of that. 3. If you have to create a product, start with a service instead. This might be a short workshop you do or a coaching session. Maybe a 1 hour pre-recorded video that helps answer a specific question. If you must create a product, start very simple. 4. Find a way to develop accountability and perspective. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Why You Need to Start Your Own Business Now
The Greatest Salesman in the World Atomic Habits Schedule Your 45-Minute Discovery Session with Dale
Want to know how coaching works? I know I did before I got into my first coaching session. I had just shelled out a good amount of money and was coming into my first coaching call, wondering if it was going to help move the needle.
Since I started coaching, I get a lot of people asking me about how coaching works.
There is a curiosity about coaching - especially what we often call executive, career, or startup coaching - which all tend to look the same as how they operate - just with different desired outcomes.
Recently a client told me that he was getting lots of advice from others (people who had expertise in the field), but yet, nothing was holding him accountable.
So today, I wanted to give a picture of how coaching works, who it can help, and why it might be worth the investment of your time and money. How Coaching Works Remember the old adage - "You get what you pay for."? This adage tends to be true for advice as well.
Good coaching has four critical components:
It helps you define success. Most of us are not sure what success looks like. Even when we think we know, we have a clouded vision of success. Coaching helps you get clarity. Gives you perspective. A coach should have worked with all kinds of people in all types of situations. So when they share information or ask you questions, they come from a breadth of experience. If you just get advice, coming from someone who is an expert at what you want to do, they can only speak to their expertise. Perspective helps you see more options. They are invested in you. Think about fitness coaching. At the gym, the guy in great shape next to you is a good person to ask some questions about how he got in shape. He may give great answers and advice. But, he is not invested in you, nor is he interested in helping you meet your goals. Accountability. This seems trivial but is the critical part. Once you have invested in you (by putting your skin in the game and paying for a coach), you will show up. You have invested. And, once you have invested, you will feel stupid if you do not do the work needed to help you grow. The coach, by sheer definition of the business, holds you accountable. You will feel pressure to answer for the work you did to meet your goal.
Want to check it out for free? Schedule Your 45-Minute Discovery Session with me. Click here to listen now. Shout Out to Podcast Reviewers Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today, so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Schedule Your 45-Minute Discovery Session with Dale Master of Engineering Management in Information Engineering and Management
Adjusting Your Goals Midyear? So, we are at the halfway point of 2020. Wow-what a crazy year. Some of you have suffered. Loss of income, furloughs, a decline in business.
Others have prospered powerfully.
So this is a great time to rethink 2020. What has changed? What is going in a new direction?
For me
Stepped away from Associate Dean of the university. Now refocusing efforts into new areas. Focused on growth in coaching. Doing a lot more one-on-one coaching than I have in the past few years. Working on a new book deal. Changing fitness goals.
Adjusting Your Goals Midyear 1. Clarity What do you want to happen? Who do you want to be? This is a struggle for a lot more people than you would think. I am one of them. Money? Travel? Doing something special? Living in a new house? A new car? I find most material things trivial these days. How would the Lord have me serve? If so - am I just to sit around and wait on the answer? No - I have to step out toward a goal and pray for direction. I need to be moving to serve. I need to impact others.
How is that for you? Here are some good questions?
Who do you want to become? To your family? To your customers? To you? What do you want to accomplish? A marathon? Start a business? (Might want to really think hard about this one. See Why You Need to Start Your Own Business Now.) Read a certain number of books? (See the Goodreads reading challenge) Reduce your weight or body fat? Who do you want to impact? What things do you want to move out of your life? Jobs? Relationships? Even what relationships should I leave is an important question. (See Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward)
The key is to get clarity about what you want to happen. Then write them down. 2. Habits Habits are powerful. In the book The Greatest Salesman in the World, Og Mandino explains that we are slaves to our habits and that if we must be slaves, then we should at least try to be slaves to good habits. While I find it hard to think about being a slave, I guess he has it right. We are slaves to habit. And to add to this, in his book Atomic Habits, James Clear explains that "your outcomes are a lagging measure of your habits." Our weight is a lagging measure of our eating and exercise habits. Our success is a lagging measure of our work habits. Habit again is a key ingredient.
So once we know what we want, we might need to adjust our habits (or create new ones) to help us reach our goals. 3. Schedule Once you have the goals, you need to schedule a time to make them happen. Put your goals on your calendar! Want to write a book? You should have a consistent time on your calendar to write the book.
Want to lose weight? Then add time on your calendar to work out. Maybe you even need to add time on your calendar to enter your eating in MyFitnessPal.
Key is that no matter what you want to happen, you need to work at it. Work takes time. Get it scheduled. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Why You Need to Start Your Own Business Now Goodreads reading challenge Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward)Schedule Your 45-Minute Discovery Session with Dale The Greatest Salesman in the World Atomic Habits
Use your curiosity to market yourself. How? Asking questions makes you look like you care and it also gives you the opportunity to connect with others - letting them share their expertise with you.
In other words, you are asking people to tell you about what they do. And, per the book How to Win Friends and Influence People - this is a powerful tool to get people to like you.
So how do you do it? Use Your Curiosity to Market Yourself on the Job 1. Learn How Things Work at Work The result is that you connect with people and expand your presence at work. Learn about where the processes flow. As your team hands-off work, where does it go next? 2. Find People Doing Interesting Things at Work Just exploring because you are interested. Makes you known by others and add value. This is especially useful in large companies. For example, if in engineering, be curious about what the real estate division does. Ask questions, get a tour, go to lunch. 3. Show Up at Meetings You Might Otherwise Miss Showing up in larger meetings - especially when the top people will be there - is a great way to be seen. Being hidden means being forgotten. 4. Be Really Curious about Customers Customers who are already paying your company are a ripe area to find new work. Be part of the sales team by asking those customers you interface with questions. Learn about their problems and challenges so you can find new ways your company can serve them. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Win Friends and Influence People Schedule Your 45-Minute Discovery Session with Dale
Complimentary episodes:
The Company of One Model
Episode 174: Grow Your Own Company of One Episode 175: The Three Kinds of People at Work. Which one are you? Episode 176: Seven Things You Must Know About Your Boss
Your Chief Operations Officer Role
Episode 177: Become Better at Your Job Episode 178: Three Tools for Powerful Focus and Incredible Results
Your Chief Marking Officer Role
Episode 179: 17 Ways to Market Yourself Episode 180: How To Calculate How Valuable You Are To Your Boss Episode 181: How To Become More Valuable To Your Boss Episode 181: 11 Steps to a Better LinkedIn Profile for Marketing Yourself
These 11 steps to a better LinkedIn profile will help you be found by recruiters and will also help you brand yourself to future and current employers.
While a lot of people spend time on Facebook, Instagram, TikTok, and other platforms, LinkedIn is the one platform that is more connected to professional impact more than others. 11 Steps to a Better LinkedIn Profile Your LinkedIn profile is likely to be the first thing people see about you. Do the following steps to create or refresh your profile.
1) Good Headshot Photo It should show your face well, be professional (as it applies to what you might want to do – no need for a suit and tie if you're going to be a professional skydiver). Best to get it made by a professional photographer – but at very least a well-lit headshot from a friend's iPhone.
2) Your Name This is no place for nicknames unless you are professionally known by them.
3) Professional Headline The headline is not your job and title. Instead, make it information that will draw your potential visitor into wanting to find out more about you. It should tell me how you can help me. Also, if you are moving away from one career toward another, make sure the headline tells more about where you want to go.
4) Your Location Since we often search for people by location, this is critical.
5) Customized Profile URL LinkedIn provides you with a default URL that you can – and should – customize. After all, https://www.linkedin.com/in/dalecallahan/ looks better than http://www.linkedin.com/pub/dalecallahan/4b/z25/146/ ?
7) Status Updates Your Activity will show your latest status update – do you have one? Get into the habit of updating your status regularly. This helps others know what is on your mind. Share thoughtful, insightful, and relevant news. Consider what might interest your visitors. Shoot for updating it once a day. Unlike Facebook or Instagram – this is not the place to share what you had for breakfast - unless that somehow relates to your headline. Keep in mind what you are about - and share that kind of content.
8) A Complete Professional Summary Create a solid professional summary to support your professional LinkedIn profile. Since your visitors have come to your page and seen your headline – you can now add to that with more detail. Think keywords. Any keywords someone might search on that relate to you – you should include. This includes all certifications, skills, etc. that relate to the kind of job you want. Keywords are powerful.
9) Connections - Add More The magic of LinkedIn is connections. So now is the time to start connecting with EVERYONE you know. Past co-workers, bosses, people you go to church with, friends – anyone. The more connections, the more powerful it works for you. And, when someone sees a profile with over 500 connections, it means you are an active user, and therefore I can expect you to be willing to connect with me. VERY IMPORTANT.
10) Contact Information Make it easy to contact you via email or the phone. Add relevant contact information, including how to contact you via social media – as long as you actually check it.
11) Join and Participate in Groups A lot of Activity happens in the groups. Find groups that relate to what you do and join them—a great way to make professional contacts. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
My LinkedIn Profile
Become more valuable to your boss in just a few simple steps.
If you followed the last podcast, How To Calculate How Valuable You Are To Your Boss, you can now learn how to make that data work for you so that you can become more valuable to your boss.
If you have not done that work, you can either jump back and do episode 180 (How To Calculate How Valuable You Are To Your Boss) or make your best guess and move ahead.
Either way - we are going to dive into ways to make you more valuable at work.
Today we will dive into the things where you add the most value at work. So if you found them by doing the work (from Episode 180 How To Calculate How Valuable You Are To Your Boss) or you just know what you did as the most valuable - here are the steps to make it work.
What you need before you start
A list of the things you did to add value to your employer over the last year. You might have that from working on Episode 180 or from just a list you made. Organize the list according to what added the most value over the year. If you are not sure what added the most value then just guess.
How To Become More Valuable To Your Boss 1. Sort your list by value There are always things we do that add significant value and other things - where we tend to spend more time - that add less value. Now take a look at the list of items you did to add value. If they are not already in order or value, put them in the order by value. 2. Share your organized list with your boss Sit down with the boss and review your list. It is important that you share all the things you did and where you added the most value. At this point, you want to listen closely to feedback.
- Make sense of the feedback
What did the boss say? Did he or she agree with you on your listing of values? And, was it really clear that they agreed with you? If so, great. But be careful to listen for doubt. Your boss might measure values differently than you do.
First, get them to agree on the top 3 things.
Second, you want to get them to agree on what is at the bottom of the list - the least valuable things.
- Change your job description
OK now is the most powerful part. Ask for a change. Ask your boss to help you eliminate or delegate all of the lower value items you have on your list so you can have a bigger impact by spending more time on the high-value items.
- Get agreement on the top line items
Now get your boss to agree to the number on the high-value items. What value do they have to the company? It is best to think in terms of dollars for this value if possible - since you get paid in dollars.
Once you get to this point, you have done two powerful things:
You have communicated to your boss how much value you added last year (remember - marketing is about communicating value.) You have gotten agreement from your boss that will allow you to be even more valuable by taking away the minor things that are taking up your time at work. So the message it - you are looking for ways to add more value to the bottom line.
Click here to listen now.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Company of One Model
Episode 174: Grow Your Own Company of One Episode 175: The Three Kinds of People at Work. Which one are you? Episode 176: Seven Things You Must Know About Your Boss
Your Chief Operations Officer Role
Episode 177: Become Better at Your Job
How to calculate how valuable you are to your boss. Sounds like a big promise? Does it sound like math? Both are true - but I can handle the promise and the math is pretty simple - so you can handle it. While we measure value in a lot of different ways, the most powerful way to show value is by showing your financial impact to the company. You only have two reasons for being on the payroll.
To make the company money. By this I mean you directly contribute to the revenue. If you are part of bringing the product and/or service to the customer, you are about making money. If you are in sales, product development, or production (you create the product or service) or have a role interfacing with the customer, you are likely revenue-generating. To save the company money. These would be people who are making the company more efficient and profitable and possibly those who keep customers coming back. Project management, much of accounting and finance, quality, safety, or any kind of other back-office administration falls in this category.
Now if you are like most people, you might be scratching your head trying to figure out which one you are. Good. We will address that now. How To Calculate How Valuable You Are To Your Boss The easiest way to calculate your value is to look back at what you did for the company in the past 6 months to a year. If your job has not changed much, you should be in similar shape the next six months to a year.
So here is my simple formula for this. Your goal is to bring money to the company by helping sales or reducing costs. The amount you bring has to be over and beyond what you cost the company.
So let's start with what you cost.
After all, before you can calculate how valuable you are to your boss, you first need to know exactly what you cost. And, it is more than you think. Your cost = Your salary + Benefits. And by salary, I mean top-line - what you make before taxes or anything else.
Benefits are all those things you cost that you do not directly see. The company's contributions to your 401K, insurance, your tax bill, and various other taxes and fees they have to pay to have you around. While you might not see the dollar value of all of your benefits, the company writes a real check for each dollar.
Your employer's HR can give you a detailed breakdown. Many companies already provide this statement annually so you can see how much you cost them. They want you to know!
But if you cannot get these numbers easily, just add 25 to 30% to your salary. (If you work for a larger company with good benefits - think closer to 30%)
For example,
if you make $100,000 per year
your cost = $100,000 + $100,000x30% = $130,000.
Now let's calculate what you bring to the table.
The easiest way to do this is to write down in words the most important things you did for the company. Use bullets and just make a list. Here is what a support engineer working the power industry wrote about what she did over the last year:
Did troubleshooting communication issues between substations Installed software ahead of schedule (saving labor and truck rolls) Located and tested new integration tools reducing equipment cost per location Developed training manuals for the team Reduced the amount of time to install integration equipment by a day Developed and wrote new test procedures for communication testing
I like to start with words because it is easy. I call this the word formula. IMPORTANT STEP! Once the words are written, share them with your boss and make sure he/she agrees. They may want to make some changes to your words, and might even want to add something you forgot. 2. Now put some values to each bullet. This is where it can get tricky, but do not get overwhelmed. Just take a good stab at it to start with. Consider two things. 1) How much money did this activity bring in or 2) how much did it save?
17 Ways to Market Yourself. Yes, I said market yourself. As we move through the four roles of your Company of One model (See Episode 174: Grow Your Own Company of One) we are now focused on your CMO or your Chief Marketing Officer.
You might notice some overlap - which is normal. The last few episodes dealt with how to become better at operations - or your COO role. As you might expect - operations and market overlap in many places.
But the key focus areas are different:
The COO is focused on delivering value to the customer. The CMO is focused on communicating value to the customer - how it can or how it was delivered.
So today we will focus on the 17 Ways to Market Yourself - a quick and powerful list to help you get amazing results. 17 Ways to Market Yourself 1. Define your expertise. Who do you help, how, and what benefit do they get from your help? For example, ”I help technology professionals connect their tech experience to their personal brand and company so they can maximize their income and growth while maintaining or growing their personal brand.”
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Update your LinkedIn for the desired action. When someone visits your LinkedIn profile, what do you want them to do? For help, review profiles of authorities in your field.
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Define your customers and what they value. Meet with them periodically to get feedback. Ask them "How am I doing?” and “What is your biggest struggle?”
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Communicate frequently (at least every 30 days) to your customers. What do they value? Provide them feedback. Here is what has happened. Use bullet points so it can be scanned easily.
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Dress for success. Look in the mirror, then look at the leaders in your company and in your field. What is different? What do you need to fix? Be open to ask others for help. The key is that you are communicating through your dress. What are you communicating?
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Straighten up. Check your posture. Your posture impacts how others see you, how you sound, and how you feel. SMALL changes can create a big impact. Get help if needed.
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Watch your language. Foul language is not accepted in any field. Sure - there are a FEW exceptions – but do not count on you being one of them. No one wants to hear negativity. It will block opportunities. No one will ever hire a person just because they speak in expletives, but plenty will not hire the one that does. This is also true for ANY negative language.
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Keep it short. Learn to answer succinctly. When asked a question, do not ramble. A good approach is “Here are 3 ways to look at this …” And of course, be ready for questions that come often or you know are coming.
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Smile. Communicates tons. Fake it if you have to. A smile communicates confidence. Confidence communicates power.
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Keep your cool. Breath deep, smile, relax, even if you have to fake it at stressful times. Losing your cool can be a powerful tool if used correctly, but it more often communicates weakness.
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Network. Who are the key influencers in your field? Make a list of the top 10-30 people and reach out to them in some way every 90 days. a. Let them know you saw their ad or heard others talking about them in a great way. Everyone loves good feedback. b. Share information about their interests. c. Introduce them to someone - a referral. d. Ask them an easy question. e. Send them a gift. f. Send a thank-you note.
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Go above and beyond in your service. Going the extra mile always gets you noticed. When asked “How?” show them. When asked "Why?" take the time to explain. Give them more than they asked for in a way that is meaningful to them. For example, when asked how to do something on a computer, provide a short video showing them HOW. Take a photo. Write up a short report with details when asked a question. Make it EASIER for them to use - instead of the excel report - summarize key points in the email.
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Find your people and how to hang out with them. How do you know your people?
Three tools for powerful focus and incredible results. Sound like a big promise? Perhaps - but these three proven tools have a long track record of results in companies like Google, Intel, Youtube, and MyFitnessPal.
The three tools are 1) Four Disciples of Execution, 2) Objectives and Key Results, and 3) Entrepreneurial Operating System.
Each of the three tools is similar in that they drive focus and results. You only need one of the three, but since each tool works better in specific environments, we will take a look at all of them spending more of our time on the first tool, since it is most likely to have a positive impact on your Company of One.
"Ideas are easy, execution is everything" -- John Doerr
A Quick Recap In the last few weeks I have been going over the Company of One model:
Episode 174: Grow Your Own Company of One - An overview of the model itself covering the 4 roles - operations, marketing, finance, and research. Episode 175: The Three Kinds of People at Work. Which one are you? - The mindset needed to operate as a Company of One. Episode 176: Seven Things You Must Know About Your Boss - Understanding who your customer is (a major part of your success). Episode 177: Become Better at Your Job - Your Cheif Operations Officer at work.
We will continue to go over these in the next few episodes diving into how to market yourself (your Cheif Marketing Officer), how to control your money (your Cheif Financial Officer), and how to stay ahead of the game by doing great research (your Cheif Research Officer).
But up to now, we have focused on getting to know your customer and then learning how to be more effective at your job - your Chief Operations Officer. In Episode 177: Become Better at Your Job we dove into how to become better doing your job by learning what matters and staying out of the weeds.
Now we dive into becoming hyper-focused on getting powerful results by using one of three tools for powerful focus. Three Tools for Powerful Focus Once you know what is important from your boss (See Ep: 177: Become Better at Your Job), now you can focus in to get great results. The trick here will be the focus. If you know what is important, then you also know what you should ignore. The key here is "SHOULD." So many distractions!
Let's dive into the first of the three tools.
Tool #1 - The Four Disciplines of Execution or 4DX. (Here is a 5-minute video by Franklin-Covey telling about 4DX)
These four disciplines are:
Focus on the Wildly Important. These would be a small number of things that will return tangible and substantial professional benefits. Example: Lose 20 pounds by December. Act on lead measures. Lead measures are things you can do today to get the results. As opposed to lagging measures which are the end result. Once the lagging measure comes in, the damage is already done. Example: The lagging measure for weight loss is pounds. The leading measure (what we can do daily to get to the end result) is the tracking of your eating daily in MyFitnessPal. Keep a compelling scorecard. We all love to keep score - it is just motivating. So you need a simple and visual method to keep score. Example: Your MyFitnessPal will show you the number of calories eaten per day. Create a Cadence of Accountability. A system to hold you accountable so that you get back on focus when you become distracted - which always happens. Example: A weekly review of your weight and your week's tracking of eating.
These ideas were used by Cal Newport in the book Deep Work. Cal, a university faculty focused on research, realized what mattered for his success was research productivity. This means publishing quality research papers and writing proposals that get funded.
Here is how Cal used 4DX:
1 The Wildy Important Goal - publish 5 high-quality papers in the next year. This was a big goal - but he knew it would move the needle.
Become Better at Your Job? I know that you are likely thinking, "I am already good at my job!" I hope that is true. But, can you become better at your job? I think we all know the answer is yes - we can always be better. Why should you? If you can become better at your job you will
have greater work satisfaction, improve your relationships with your coworkers, be more productive, impress your leaders, and grow your income.
If nothing else caught your eye - I hope the idea of increasing your income did. Is this selfish thinking? Sure. But the whole point of working is for income - so the idea of maximizing income should be part of your mission. Since you are a Company of One, you should operate like one and look for ways to grow profit. (See Episode 174) Only Two Ways to Make More Money I forget where I heard it, but I remember someone telling me that there were only two ways to make more money.
To work more hours. To become more valuable.
If you are paid by the hour, working more hours will do the trick. But this is not scalable.
But, to become more valuable, you can then charge more for your time.
And it is the becoming more valuable part that we need to focus on today. Become Better at Your Job - The Company of One Perspective Before we dive into the details, I just want to make sure our thinking is right. If you tuned into episode 174, you would know all Companies have four major roles: operations, marketing, research, and finance.
The part of operations is where we do our job. It is the role we are most familiar with. However, I am going to say that I bet you have left money on the table. Your COO (Chief Operations Officer) has more he or she can do to make money flow. (Yes - you are your own COO - so I am talking about you.)
Your job in operations is to serve the customer well. And, your customer is your boss, your boss's boss, your coworkers, etc. (See Ep 176 about knowing your customer better.)
Tune in to what your customer needs from you. You will learn a lot by simply asking and listening. What is important to your customer? And remember, this is a personal thing. If you change bosses, then you will likely end up with a new set of priorities.
Your job should do one of two things: 1) make money or 2) save money - never forget it. Accountants call it overhead - expenses that do not directly result in revenue. Always strive to add value. Top of the line expenses is those costs that are part of the building or delivering products and services which drive revenue. Are you part of them? Focus on your strengths and doing what you love. Too often, we get caught up trying to be like the other guy. Instead, focus on where you are strong. Align your work, the best you can, with your strengths. You will do better, be more recognized, and grow your income faster. Reduce the drama. Drama, caused by internal bickering, personal life getting in the way of work, or other things that take the eye off the ball, will drain those you serve. Leave it at home and deal swiftly with the drama at work. Stop stealing from your employers. Dead end meetings. Killing time. Lack of clarity to what you are doing today. Check out Productivity at Work | Quit Stealing From Your Employers Communicate. Do not assume anyone knows what you are doing or why. Help your customers by letting them know what is going on.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Seven things you must know about your boss. Too often we think that our job description is supposed to tell us about our job. Of course, we all know that is does not, and it is often the joke - or the point of contention. But forget your job description - after all, it is more about protecting your employer legally than it is about you.
So what is your real job description? Your Boss = Your Customer In episode 174, I covered the Company of One concept. In this concept, I explained that the customer is the person who hands money to you in exchange for the services you perform. So, your boss is your customer.
But let's get a little more specific. The customer is any person who can impact the flow of money into your pocket. This means that your boss, your boss's boss, your co-worker, your vendors, etc. Yes - it gets complicated.
But it is always complex. Think of a car dealer trying to sell a new car. You and your five-year-old son go into the dealer to look. Your five-year-old is not the person who is going to pay for the vehicle, but if the dealer mistreats your five-year-old, then he/she has lost your business. So, in the Company of One definition - the five-year-old is one of the customers.
The point is, the customer relationship is always a little complex.
True for you also.
To define your customer, start by taking inventory of the people who can impact your pay at work. You might end up with one person or twenty. It does not matter, so long as you get clear who they are.
Then focus on the key people. They are likely going to be your boss and your boss's boss.
But either way, consider them all bosses. In the world of Company of One thinking, boss=customer.
So go ahead, make a list of who they are. I will wait. The Seven Things You Must Know About Your Boss Now that you know who they are, you need to understand there are seven things you must know about your boss (and each one of your bosses or customers)
What is their role in the organization? Meaning, what is their responsibility. Think in terms of money - how does their job impact the flow of money in the company? What is their relationship to you? No, we do not just mean titles and who works for who- but how does workflow between you? Do they provide things for you to do? Do you provide a service for them? How do you depend on each other? What do they value? What keeps them awake at night? What are their priorities? How do they win? How do you serve them?
Why Should You Care? OK, so you now know about the seven things you must know about your boss. Now that you know what matters and how your boss can win, you also see how you can win. You should have clarity about:
What matters. What work has to be done with quality. What information your customer (boss) needs and when. What you can ignore.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you're not, I encourage you to do that today so you don't miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Schedule Your 45-Minute Discovery Session with Dale Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
There are only three kinds of people at work. I am not talking about the normal grouping of the three kinds of people you might have heard of before:
Those that make things happen. Those that watch what happens. Those who wonder what happened.
(By the way, I might add a fourth - those who have no idea anything happened. But that is not my point today.)
But, I have noticed that we can divide three kinds of people in another way - how they think, and what they have been taught to do.
These three kinds of people are:
Victims Followers Leaders
I have found, and you have likely noticed yourself, that these three groups dominate the economy, politics, and certainly the workplace. Let's focus now at work.
So today, we are continuing our discussion of the Company of One concept (from episode 174), but taking a moment to deal with MINDSET - something so critical to becoming a profitable Company of One.
What are you? A victim? A follower? Or a leader? The Three Kinds of People at Work Victims Always applying for government help, suing people, squeezing others. They think they deserve what they demand. They are entitled. Beliefs:
They are owed something. Maybe because of race, religion, sex, disability, or so many more reasons. Basically, they believe they deserve things. May be free food and home, or that their college degree entitles them to more money.
Frustrations:
They can never win. Not saying they will not get some wins, but by definition, nobody can ever do enough for them. Governments, companies, employers, etc. will always let them down. They deserve more and demand it, but the demand will never be fully satisfied. Followers They follow the formula. Rule followers -> Do what the school and university say. Cube job and retire. Hard workers. They are fooled into thinking the formula works. Basically, the average middle class. Security matters. Want to know they are taken care of – but they do not realize it is false security. You can find these in every place, and often they can be counted on to deliver. Beliefs:
They believe the old axioms - hard work leads to success. But since they miss other parts of the formula, they believe hard work alone does the trick. They think their work speaks for itself, and they should not bother showing anyone what they did or how. They are often suspicious of others - holding tight to their methods and skills since this is what they think offers job security. Work hard, do the right thing, and you will be rewarded. Usually, this model translates to get a good education (meaning formal k-12, then college) getting a great job and working long hours.
Frustrations:
In their gut, they know it does not work. They may have believed it at one point, but at some time in their life, they look around and realize something is wrong. The best person does not get the promotion. The hardest worker can become punished. The person who is "dumber" and does not appear to work that hard receives the rewards. Leaders Taking control, making it happen, not waiting for permission. Freedom is of high value. Freedom to serve others and do what they want. Leaders tend to lead no matter what. Even when they are not in charge, if they see a problem, they solve it. They will even take the lead when there is a leadership void at levels above them. Beliefs:
Anything is possible. They believe they can. They believe that there will always be resistance, and that is to be expected - maybe even enjoyed. The game is fun. Money is often not the goal, but just a measure of success in the game.
Frustrations:
The system thinker and the victims are a frustration to leaders. Both groups slow things down and inhibit progress. Even then, the leader often tries to bring the others along - and sometimes finds more frustration because he or she realizes you cannot help some people. Which of the Three Kinds of People are You?
Ready to grow your own company of one.
Since the title of this podcast is Company of One, many of you are asking lately, "What do I mean by the "company of one?"
So today, I want to help you understand this concept and grow your own Company of One.
Why?
It will help you see some of the misconceptions about the work we have been taught. It will bring your freedom. It will help you make more money.
Grow Your Own Company of One To explain the company of one, we will look at a company we all know. The Business Model Let me us Walmart to help depict this model. We all know of Walmart. But have you ever thought about the critical thing that happens in Wallmart? In fact, the only thing Walmart focuses on. It happens as a relationship. When you hand over money in return for goods/services. This exchange of money for goods and services is what we call doing business.
This model is typically called the business model. In this model, the person who hands over the cash is the customer, and the one that takes the money and provides a good or service is the business or company.
We are all very familiar with this model - especially from the customer side.
The Business Model
The Employee Model Now let's looks at a model we are also very familiar with. I will call this the employee model. In this model, you go to work for an employer. You are called the employee. Let's assume you work as a project manager for AT&T. So you go to work and provide a service managing multiple projects. I will assume that means you help them get work done on-time and on budget while not missing anything critical.
The Employee Model
Now even the untrained eye can see that these two models are pretty much the same thing. They are identical except for one feature.
Notice who hands over the money now. In my example, it is the company or AT&T. And the employee provides the service. So, since AT&T hands over cash, they are the customer. That makes the employee the company or the business.
A good depiction of that is below, as drawn by my daughter Cassidy Cash - also known as Cassidy Cash, host of That Shakespeare Life.
We are all a Company of One The point is that the employee model is a lie. We are not employees; we are small one-person companies providing a service to larger companies. We are all companies.
Now you might get that immediately, but I know some of us need to process this. It is very critical that you understand.
Why?
If you understand this, you will have more power, more freedom, and can learn to make more money. Sound like a bold promise? It is. But yet, it is the truth.
You see, most of us play one of three roles. First is the victim. Second is the rule follower. The third is the entrepreneur. It is the third role that gets the spark. Entrepreneurs are not just the ones starting companies; they are the ones making things happen even inside of the big companies while they operate as an "employee."
It is the entrepreneur who will have the most impact and the most joy. They are the ones who operate like a company of one. Four Key Roles of any Company To see what I am getting at, let's analyze how a company works. It as Earl Nightingale, who I first heard describe the four key roles of a company. They are operations, marketing, finance, and research.
When I started teaching entrepreneurship at UAB, I used this simple model of a company to communicate ideas to those who were used to working in large companies like AT&T, Wells Fargo, Lockheed, Boeing, Mercedes, IBM, and many other companies. These students of mine were very smart, but the businesses they worked for were so complex that they had a hard time moving their thinking from big business to a simple model. So Earl's model worked well.
As I broke this down for them, I would explain to them how they were this Company of One and that they all had these roles in their own company.
How can you further your career during the COVID crisis? Or put another way, how can you use the crisis to grow? While there are many people who are out of work or on limited hours, the separation and time warp we are living in has pushed us all to do some things differently. Besides wearing masks, washing our hands, and social distancing - this crisis should be giving us some new unexpected skills and some new perspective. So can you use this time to further your career during the COVID-19 crisis? I think so. In fact, if you pay attention, you might already be enhancing your skills. How to Further Your Career During the COVID-19 Crisis 1. Think Strategically Rethink the goal. Where will you be in the next crisis? A bit of strategic thinking on your own career can help you strengthen your thinking muscle as you get back to work. All jobs and careers need evaluating from time to time to make sure you and your team are on track. Practice it now by thinking about where you want to be in the next 5 years. 2. Better Manage Your Time This is a great way to further your career during the COVID-19 crisis. Working from home has some challenges, and time management is a big one. No matter how you think you are doing in this area, your time at home has helped. You have had to make some decisions about how to handle the day and how to manage your work with at-home distractions all around. If you can carry those back to work (even if you end up at home still) you will find your day more focused. Also, you might find your work gets done sooner. 3. Learn a New Skill Go ahead and admit it, even if you are still working, you are not as busy as you used to be. What can you do next week to learn a new skill that will carry forward? What is something you have been meaning to learn? Go quickly to Udemy, Coursera, LinkedIn Learning, and pick something and then schedule some time (see the last point) to work on the new skill. 4. Be Better In Meetings Video calls are here to stay. Most of us have found ourselves on video calls as part of the normal business - and for most - this is new. You get to see yourself in a new light. How did you come off in a video? How do you look at a meeting? You now can see yourself in a way you could not before. Were you disconnected? Do you look confident? Do you sound confident? Use this to adapt to the new normal of video calls (which we know there will be more of them now) as well as in-person meetings. 5. Get Better on TV Since we can expect at-home meetings or video meetings to be the new normal, you need to be more prepared. How did your video setup work? Many of us have struggled to look functional on our new TV setup - which is what it is. Take the time to rethink how your background looks. If you are using the Zoom backgrounds - are they sending the message you want them to send? Setup your room with a good background. Also, invest in some better audio equipment and webcams. My favorites are the Blue Yeti Mic and the Logitech 920 camera. 6. Better and Faster Meetings Many of my standing hour-long meetings have fallen to 15-30 minutes as we realize we have covered everything we need to cover and we can get back to work. If only our in-person meetings could be so focused and get such great results. Keep up the plan of coming to meetings with an agenda - even if you are not in charge since the person in charge likely does not have an agenda. See Productivity at Work | Quit Stealing From Your Employers. 7. Get Control of Your Money and Get Out of Debt I hope this one is natural. I expect to see people selling their homes and downsizing, and/or selling their cars to get out of car payments. Many of us have decided to never be in this situation again. The path out is to get some emergency funds setup and to kill the debt. Click here to listen now.
Shout Out to Podcast Reviewers Fantastic advice to find your calling and build a career Brianaloha ★★★★★
Is fear stopping you from starting your business?
Before you answer this question, make sure you look clearly at all the common signs of fear. If you think it is something else holding you back from your startup, you might not be doing the right things to get past it.
Today we want to look at the common signs that fear is controlling you.
Like anything else, identifying the core problem is half of the solution. Is Fear Stopping You from Starting Your Business? Here are common signs of fear that I see every day in startups.
What kind of business should I start?
Do not know what to do. This statement is a sign of indecision - usually coming from fear. What are you afraid of?
That you do not know enough? That someone will laugh at you? That you might have to work?
The problem is, you already have tons of ideas - most are right in front of you. They are your calling. To find an idea, go through the calling exercise.
Is fear stopping you?
How to get past it:
Download my ebook on calling. See my example.
I do not know where to start?
While this is a common question, it is often a sign of fear. You can tell if you stay here too long - then it is fear. There is a ton of information about starting businesses - so fear is no excuse.
People usually call me with these questions:
What is step 1? Should I get a loan? Should I get an office? Should I get a license? What about an LLC?
All of these are fair questions, but not the starting point.
Is fear stopping you?
How to get past it:
The BEST way to know where to start it to find an expert.
Find the person who is living your dream and go talk to them.
What do I do if I am afraid?
Yes, sometimes we can just admit it.
Is fear stopping you?
How to get past it:
What is the fear? What do you think is going to happen? Get clear on what it is you are afraid of. Give it clarity.
Read the book by Richard Mack Machowicz, Unleash the Warrior Within: Develop the Focus, Discipline, Confidence, and Courage You Need to Achieve Unlimited Goals. The book has great tools to help you deal with real fear and how to move through it. As he explains, fear is all in the mind. It is an enemy. It keeps you from moving forward. Like all enemies, you either defeat them or will be defeated by them.
I do not have the time. How can I start a business without any time?
This is a colossal excuse we all use. But realize it is an excuse driven by fear. Could even be fear of work.
Is fear stopping you?
How to get past it:
Decide. Do you really want this? Think about someone busier than you, getting more done. Would that person have the time? Can you think of anyone who manages many things and seems to have better success than you do? (If not, email me, and I will help you) Dedicate a set amount of time just for your business. Find the time on your calendar you can repeat over and over. It might be 5-6 AM. It might be over lunch. It might be at night. Just find the time, schedule it, and go.
I am procrastinating
This is a classic. According to the physiologists, fear often shows up as procrastination.
Is fear stopping you?
How to get past it:
Set priorities and get focus. Look back at the time issue above. Set some time and make small steps. Do you feel overwhelmed? Get control by getting to priorities. Just fear. Check out How to Recognize and Overcome Fear
I need a partner
If you are waiting for your partner or looking for a partner, this one is usually fear. However, this one does not feel like fear - but it often is. The main reason we want a partner is to have someone to share the burden. We are afraid, and we hope our partner will pull us along. This usually does not work, because your partner is afraid too, and usually less interested than you are. Dave Ramsey often says, "Don't do it.
Our ugly startup story is something I have told many times - usually when I am speaking at an event. But, since I recorded the 9 steps to generate $30,000 per year, I have been talking to many of you about how you can start something. A lot of misconceptions and overcomplicated ideas out there. I wanted to open up and show you what a startup looks like for real (not the idealized things you see in Facebook Ads). So today I share our ugly startup story which will include lessons learned and how we might do it differently today. Our Ugly Startup Story - The AskDrCallahan Startup Story First, we were led to homeschooling our two daughters. The story was a three-year path from "we have never heard of homeschooling" to starting up. Get more details here. About us.
The PAIN. The path into the business came from learning about PAIN. Friends, who were homeschooling and finding their kids also going into high school, were afraid of math. They simply could not teach high school math (their words - not ours.) This was the pain - they needed solutions. Knowing Lea and I are both engineers - they wondered how we might handle this problem. Pain is an important word here - pain is what makes people seek solutions and spend money. I am not talking about physical pain - we are talking about frustration or desire for something one does not have. Marketing pain.
We were almost talked into starting a business. It was worded as "Can our son join in with you teaching your daughter - we will pay you. So we started to help. Then it grew into our pain.
I will skip the details here because some of them are in our published AskDrCallahan story, About Us, but after 3 years of this, we were teaching a massive amount of courses in our basement.
We were at a crossroads. Lea wanted to move us to a new plan and put the courses on DVD and sell them to friends or open a school. Since I always like to have 3 options to make a decision - I came up with a third - do nothing. Quit. I liked the sound of that option.
The Opportunity Analysis
To determine if going for a real business model with homeschool math, we needed to do an opportunity analysis. This is a quick way to determine if there is enough money to be made. The details of this initial analysis can be found on Podcast 87: How to Do an Opportunity Analysis. The key was that the numbers looked interesting enough to move forward. This process took about 30-60 minutes!
START NOW
Once you know the idea is a go - you just have to start. We decided on the right product to start with - the one we already had done a few times - Algebra 2 with Trig. The notes were ready, we just needed to get started and put it on the market.
Stupid Steps In
Call it stupid, distracted, perfectionist, etc., does not matter. This is the place where we start to overcomplicate things. We always do - and so do you. I know, I coach startups and see it EVERY SINGLE TIME. My stupid showed up with me wanting to create a video studio, buy the best equipment, and - well I will not go into more details, but you get the idea. Stupid and distracted. My wife (who as it turns out represents the customer base - more on that in an upcoming podcast) told me "Homeschool moms do not want fancy, they want the problem solved. It does not have to be pretty or packaged well - it has to solve the problem!" This is a great time to heed the quote, "If You're Not Embarrassed By The First Version Of Your Product, You’ve Launched Too Late" - Reid Hoffman, founder of LinkedIn (Billionaire) So I took a whiteboard, a camera, and started teaching the course just like we did at the university. (OK - I do not teach math at the university - but you get the idea.)
With our daughter doing the video editing (something she had never done), we had a product in a few weeks.
Tell the World
This is the MOST IMPORTANT PART OF BUSINESS - MARKETING. If you have a great product and nobody knows it, then who cares.
How you can serve and thrive in a crisis? This is a question being asked by many people.
While the current COVID-19 crisis has created a lot of panic and financial stress, this is a great time to rethink how you can serve more and thrive doing it.
I have heard many pundits, podcasters, and coaches telling us they will teach how you can serve and thrive in a crisis - but I often hear generalities about retooling. What does retooling mean? How do I do that?
So if you have lost your job, find yourself too dependent on the paycheck, or just realize this is the time to act - this is the podcast for you. How You Can Serve and Thrive in a Crisis [Outline] Step 1 – Get Control and Get A Plan
Get control of you – your mental state.
Wake up on time to work. Get ready for work. Your job NOW is to find people to serve. Make a schedule for the week - including workouts and work (get to that later) Realize you CAN make this work. Others can – you are not helpless. Go for a walk or do something physical for 20-40 minutes)
Get a plan together.
Make a list of 10-20 people you have served - people who paid you before, including their number or email. Define what "need" you served before? Why did they pay you? What pain did you relieve?
Cut hair Clean house Do office admin work Yards House repairs Physical Therapy Gym pro Teaching classes Etc
Note: Many high paid professionals do not have answers to this (a lot of corporate people do not have a clear answer.
Step 2 – Evaluate the Situation Talk to those you serve. They are STILL your customer if you can still serve them.
Call your customers and find out how they are coping – what needs are unmet. Call 10 of them and ask:
What is the biggest challenge they are having related to (what you did to serve them)? For example, a haircare person might as “What is the biggest challenge you are having with your hair right now?” Why are you having this challenge? (Do not assume it is because they cannot get you to do it – the answer might be different.) How do you feel about it? (Let their words speak to you.) What do you think you need? (Do not put words in their mouth – let them speak it)
You MAY learn things like
Hair going crazy and I feel ugly now and ashamed. Nails need to be done – I feel unkempt. I cannot work out and I feel fat and scared I am never going to be in shape again. Now having to teach my OWN kids – going nuts – I cannot do this. I do not know how to do things I SHOULD know. I feel stupid.
Step 3 – Look for Alternatives to Retool
Review notes from all your calls. What do you see they need? How can you provide that need NOW?
Haircare and makeup needs (for those who did hair, nails, sell makeup, etc)
Show them how to cut their own hair over a FaceTime and charge them for coaching. Sell them what they need to cut their hair (find tools online and either buy them and resell or become an affiliate.) Provide virtual hair/makeup consultations for people now on video meetings every day, or even professional tv personalities missing their hair/makeup crew.
Product help – what to buy and how to use (Salespeople who now have stores closed.)
Teach me what I need to buy using Amazon. Find the best deals for people in my product space. (Can do affiliates also.) Teach me how to use the products.
Admin Work (for those who worked in offices.)
How do people working online need to organize life? Now they need to organize files on computers and MAYBE have physical copies scanned and or filed. How can you do that for them from your home? Setting up Zoom meetings for them or calls. Managing calendars.
Step 4 - How to Receive Payments from Your Customers
PayPal account Fresh Books Zelle Venmo Square Cash Google Pay Apple Pay
Learn how to make $30k on the side. Think about it - $30,000 a year extra (that is $2500 per month) is not chump change, but many people have no idea how to make $30k on the side. But I coach people to do this all the time - and as you might guess - simple steps. Not easy - but simple. Here’s how to make $30k on the side in 9 Steps (Podcast Outline)
Identify what you love to do. Uncover fun ways to make money doing what you love. Discover who is doing it now. Learn from their experience. Who do you want to serve? Define your audience. Get crystal clear about the people or companies who need what you have to offer. Define what they want. Want is the KEY word here. Develop a product or service to fit their needs. Set a value-based price, so the product/service sells itself. Serve your customers and make your money.
These steps are simple (not easy).
They require mastery Relentless commitment and An unshakable belief in you.
Schedule your FREE 45-minute discovery session with me.
Choose a time on my calendar, and let’s create your roadmap to generate your first $30k and make a bigger impact.
Click here to listen now.
Shout Out Important Life Lessons Made Simple Coosacam ★★★★★ Dales is great! He has a practical way of delivering his guidance in a simple to digest manner. His points are so relevant to the mundane business world we live in today. If you want to escape the routine and grow, listen to Dale!! Subscribe & Review The Company of One in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Schedule Your 45-Minute Discovery Session with Dale. Contact Dale Callahan Finding Your Path and Doing What You Love Master of Engineering Management in Information Engineering and Management
Making money in a crisis might sound counter-intuitive - but be clear that there is always an opportunity to serve. A crisis is no exception. So if you are willing to serve others and looking for ways to start making money in a crisis - you are in the right place.
But I know what you are thinking. Making money in a crisis is just plain greedy. Others need FREE help. Maybe - but before you judge too quickly, listen in.
Making Money in a Crisis (Podcast Outline)
Money is NOT always the issue.
It is OK to charge people during a crisis. Many have the means and want your help.
There are unique opportunities while people working from home:
Babysitting Pet care Tutoring (any subject, any grade) Helping those with health care needs - Diabetic or other issues Food delivery Errand running Showing them how to use tools such as Zoom etc. - Art teacher could not use virtual tools, so had to cancel classes. Setting up in house workstations - computers, desks, etc. (VPN is a term some are hearing for the first time) Assembling things they bought to work from home Home gym setup Fitness coaching at home or over the web Someone to talk to Elderly care new high when people cannot getaway Working for Amazon / UPS / etc
Think Long Term - What May Change for Good
Colleges will have more online courses and get more creative Online tutoring will grow Homeschooling with grow Work from home will grow Personal finance and EF will be a hotter topic Home ordering of supplies - Now we know People will move away from JIT and minimalist to preppers Buy American (or where you are) Things formally made in China will be able to make and sell at home Drive through medicine! This may change the medical community more than any legislation ever could Faster FDA approval of drugs Freedom for doctors to practice without so many regulations Growth in teledocs
Perspectives
In 1929 investor Irvin Khan doubled his money. "The 107-Year Old Stock Picker." Look at stocks 1 and 2 years out. Look 5 years and a different story. 10 years even more Entrepreneur mindset thrives regardless of circumstances. They are ALWAYS looking for trouble.
Episode 119: Developing an Entrepreneurial Mindset
Where there is trouble - frustration, fear, or pain - there is a way to serve. Where there is a way to serve, there is a way to make money.
Episode 132: How Being a Christian has Made Me Wealthy Episode 158: Quit Believing Stupid Lies about Money and Wealth
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
"The 107-Year Old Stock Picker." Episode 119: Developing an Entrepreneurial Mindset Episode 132: How Being a Christian has Made Me Wealthy Episode 158: Quit Believing Stupid Lies about Money and Wealth Contact Dale Callahan Master of Engineering Management in Information Engineering and Management
Want to know how to get more of what you want? Last week we talked about the question: ”Is it OK to want more?” so today we will tackle how to get more.
Let's dive into where we left off and how to get what you really want. The secret that always works. It works for individuals, companies, and teams.
My example of how to get more will use a popular weight lifting app- StrongLifts
First the simple formula. To reach a goal and get more, you have to have a few tools.
First is the goal Second is a simple set of actions to follow that are preplanned. Third is a set of measures - so that you know you are making progress. Fourth is the time to work on the goal
Here is how Stronglifts works.
Goal - Get stronger (simple)
Actions - Turn on the Stronglifts app and follow directions. (No thinking now)
Measures - Tracked in the Stronglifts app, you can see your progress. Tracks one thing, weight lifted for each exercise.
Time - Go to gym every Monday/Wed/Friday at lunchtime
How to Get More - Here are how the steps work for you First, decide what you really want. I asked this last week in “I want more. Is that OK?”
Think to the core. Many might say "I want more money." But think deeper - what does the money bring you? Freedom? Security? Independence? Ability to quit your day job? Get clear on what you really want. Because as we push to find out how to get more, we want to make sure we are really getting more of the right thing - the core issue.
But - do not spend too much time. Clarity tends to come with action - so make your best stab at it and then move on. You can revisit this later.
Second, create a set of SIMPLE actions you need to take. The obstacles can be a real help here. The key is to make these steps simple. This is especially true for the next three steps. For example, painting a room would involve 1) getting paint stick with colors, 2) getting a few samples, 3) painting them on the wall. Simple - but moves you toward the goal.
Third, track the leading and lagging measures to know if you are succeeding—myFitnessPal is another good example of this. A leading measure is calories per day. A lagging measure is weight. But the key is the leading measure. Decide what they are, find a SIMPLE way to track them, and make them visual. You need to see simple progress.
Fourth, put time on your calendar to do the work.
Here are hints for success:
Plan the steps before you do them. Once you start taking action, your focus should be to do the work. At the end of your work time, capture anything to track. Like MyFitnesspal, capture what you ate at the end of the meal. At the end of your work, decide the next steps.
The key to success at anything is execution. Good planning can help, but the execution is key. You can execute a bad plan and still get results. But you cannot plan without execution and get anything but empty dreams. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
Links mentioned in this episode
Is it OK to want more? StrongLifts App MyFitnessPal Company of One Contact Dale Callahan Master of Engineering Management in Information Engineering and Management
It is OK to want more. Really. I will tell you why in a minute.
But the statement I keep hearing is “I want more”
I want more out of my job.
I want more out of my career.
I want more out of my degree.
I want more out of my life.
We all get restless at times and feel like everything is moving but yet not much is happening. We feel like it might not matter anymore. Like we have no place to go. Like we have used up all of our mental energy in what we are doing, and there is nothing more to do.
Then we might say “I want more” I want more. Is that OK? (podcast outline) In a recent post by Marie Forleo, she showed a sign in a window saying “I want more.” While many of her followers related to the statement, some stated that is was not OK to want more. Ideas like
You need to be content with what you have. If you get more, others will have less. If you are already wealthy (define wealthy) you should stop wanting more because you are taking from me.
But, all of this is part of scarcity thinking, This doesn't make sense.
Scarcity vs Abundance Thinking
Contentment and Thankfulness vs Wanting More
Many of us, especially Christians, struggle with thinking that we are doing something wrong by wanting more. The idea of being content with what we have is all we need.
When I was looking to start a new business, I felt guilty. I went to my pastor to get help. I knew I was about to get a flogging for my greed in wanting to start a business - so I just laid it on the line.
I told him, “ I just feel guilty wanting to do this instead of just giving all I have away.”
But I was shocked by his answer. Basically he told me this:
Yes, we should always be content and thankful for all we have. Yet, we are not created to sit around and just be thankful. After all, we are using resources while we sit. Money, food, water, etc. We were created with a purpose - do subdue the earth. At one time that was planting and taking on the animals - today it is even more. We are still working to subdue the earth. We are the stewards. Ministries are funded by faithful men and women who make money and want to use some of that money to grow the kingdom. “Are they wrong?” he asked. Was King David wrong to want to build the temple and gather wealth resources to do that? Where did all the wealth come from? So is money the key to contentment? Is it even related? Certainly, money is not the key to contentment. I know many wealthy people who are miserable and poor who are very content. Money is not the key. In fact, the LOVE OF MONEY is stated as sin. So while having more money is OK, being in Love with money (putting it above everything else) is sin. Money is a tool. We are not to be in love with money more than we are to be in love with our dishwasher. (OK right after a big party, we might find a lot of love in that dishwasher;)
But not all people who say “I want more” actually mean money. Are they discontent? Would wanting a stronger relationship with Christ be discontentment? Of course not.
Would wanting more meaning at work, feeling like we understood where we work connected to our faith and could see the impact be discontentment? Maybe. Maybe we are just to show up and do our job and be silent and happy.
But while this sounds nice, I struggle with it. What about “I will give you the desires of your heart” (Psalm 37:4) Certainly we should desire Christ more and be Christ-focused, but what if God puts on your heart a desire to serve him by doing, well, anything? A mission. A business that will impact the lives of many people? Anything.
While we certainly have to check our motives, I just do not see how many who have had a tremendous impact on the kingdom could have done so without thinking there was more.
Billy Graham wrote 10 Guidelines for Christian Living. Oddly, none of them are about a lack of desire to do or have more.
Being bored at work seems normal. Studies indicate 43% of office workers are bored - many hoping to find a new job. So if you are bored, then note that you are normal. Now - does that make you feel any better? I thought not.
So what do you do? Quit and find another job? Some of you will take this path, only to quickly be bored again.
So instead of quitting and starting again at a new place, maybe there are creative ways to make boredom go away. Are You Bored at Work? (podcast outline) What to do when you are bored at work?
Want to stay in current job - just wish I was less bored
Embrace it. You do not have to work too hard. Maybe that is OK. Explore. Look around and become curious about what is going on. Get away from your desk (or normal job) and go learn about what others do. Stop doing so much. Often we are bored when we are not using our gifts. A person who likes movement would prefer sweeping the floor or walking around taking inventory vs sitting at a desk. And some are the opposite. For me - I am NOT a details person. My eyes glaze over as I get into the details. So I have stopped doing many of them and now I focus on strategy. Tell your boss “I am bored at work - what else can I do. The boss SHOULD want to fix it since bored people eventually leave or totally disengage. Quit doing so much. Maybe you are bored with busy work and do not have the time to THINK.
Really would like to leave - but (there is always a but)
Set some goals. What do you really want? Where do you want to be? If money is holding you back - do the math. Vested retirement? So many years to retirement? I was told “15 more years of this crap and I am out.” Really? Just do the math and make a decision on the numbers and not the emotions Look outside. Often we are scared to even look. But look. Check out my podcast on Hidden Jobs. Look inward. Many companies have many options inside. Just because you work for Lockheed does not mean you are stuck. Get creative. What can you do on your current job to give it life? Can you automate it? Can you take a course to do it better?
Closing We all get bored from time to time - but staying bored is not a win for anyone. You will give up on things and become disgruntled at work, and at home. You will be that grumpy old man or woman.
But even bigger - think about the example you are setting to your kids or family. Do you want to have a legacy or being bored at work or someone who made things happen? Shout Out Something for everyone Will Wins ★★★★★
I went through the graduate program under Dale and it totally changed my perspective/attitude on my career, goals, and life. This podcast has been great at continuing to challenge & make me think outside the box. It’s so easy to slip back into the normal thinking that comes with an 8-5 day job and this podcast is great for keeping me aligned. It’s your life. There’s a world of possibilities out there. Keep up the good work and never stop pressing Dale. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Hidden Jobs Contact Dale Callahan! Master of Engineering Management in Information Engineering and Management
Who is living your dream? Do you know?
Or put another way, who do you want to grow up to be? Whether their occupation, their success, their ministry, their impact on the world - who is your role model for success?
John, a CIO at a multi-billion $ company told me “No one ever asks me how to be me. No one seems to want to be CIO.”
His statement was odd because the same statement is written in the book Rich Dad Poor Dad - no one ever asks him how to be rich.
But the key to finding success is to answer three questions - and one of them is to find out who is living your dream. Who is Living Your Dream (podcast outline) The Hard Truth: Many people do not have a role model. They are drifting. We need to find people who have walked the path we want to walk.
Who is Living your dream - how to find out.
The three questions you need to answer:
What do you love to do? How do you make money doing that? Who is living your dream?
Today we focus on the last question - who is living your dream?
But to help you find the other answers, check out How to Find Your Calling.
Who is living your dream? Here are some examples of those who found it.
David Goggins from Can't Hurt Me: Master Your Mind and Defy the Odds. Seeing the Navy Seal video. He even loved the idea of the pain. Don't Die in Your Cube. Story of Brian Rabon.
How to connect to the person who is living your dream.
Boldly reach out. People love to talk about themselves - so this is going to be easier than you think. See How to Win Friends and Influence People. Email is my favorite way to start. LinkedIn is also a great path. This is your dream - not your wish. Go after it. Email, call, text, smoke signals. Go do it now.
If you are lost and need help to get clarity, give me a call. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Find Your Calling Can't Hurt Me: Master Your Mind and Defy the Odds Don't Die in Your Cube How to Win Friends and Influence People Contact Dale Callahan! Master of Engineering Management in Information Engineering and Management
Finding your path after 30 has some unique challenges. College is just a memory. You have a good career. You have a family. But when you look around at what you do and what comes next - you might be yearning for some direction. The words I hear so often are, "I want more."
A client recently told me this: When you get into your 30’s, you do not know where to go. Up to now, you had a plan. High school counselors and parents helped you find a college, college helped you find a job, and when you started the job you had some direction since you were new and just learning. Now, you are experienced with so many options of where to go, and no one is directing you. She said it well. Finding your path after 30, when no one is there to guide you, and you have so many choices can be a rough and lonely road. Finding Your Path After 30 (Podcast Outline) Warning signs you might be on the wrong path (Some of these are taken from Jack Canfield's post on how the universe is speaking to you. The universe aside - some good thought.
You are not as interested in the work you once loved.
Bored Not wanting to dive into the details that once excited you.
You complain about the company, the boss, or coworkers often. (A friend of mine refers to some people as “Waste of life”. ) You hunger for change - even if you are not sure what that is. You might fear change at work - what will you have to learn now about a field you are bored with? Dealing with anxiety or depression.
Never fully relaxed. Often we feel as if something terrible is about to happen.
You might have chronic medical issues. Often undiagnosed with a clear path or often misdiagnosed and treat the symptoms. (I speak as a systems engineer.)
Back pain Wrist pain Migraines Stomach issues etc
A few names for this state:
Cubical insanity Corporate lobotomy
The result: You feel numb and unable to see clearly what to do from here. You ask, "How did I get here, and how do I get out." The truth is, you are in a box that you have built. You cannot see your way out.
Coaching can help
Generally, a coach or a guide is what you need. Not someone to tell you what to do, but someone to lead your thinking.
Where you might find these:
Career Counselors: I generally do not like this approach because it's in a box. These counselors mostly focus on tightening up your resume or giving you tests. All in-the-box thinking. Therapists/Psychologists: I like this better since they are not in a box - but provide little guidance. That is not their role. But they can help you think through problems. Mastermind groups: These can be awesome - but are often focused around a topic. Also hard to find one. Grad School - new degree: Very useful IF AND ONLY IF they have coaching built into the program. Coaches: Career coaches, life coaches, executive coaches - so many names. This type has been the best option for me. But you really need to find someone who knows their stuff. A good one can reconnect you with your dreams.
What to look for in a coach:
Life Experience. They need to have real-life experience - preferably experience that allows them to understand where you are coming from. I have seen 20-year-old life coaches. Sorry - it just does not fit the smell test for me. Work experience. You need someone who has worked in industry. People who are just coming back into the workforce (moms) or people who cannot find a better job will often hang out their shingles. Experience in your pain: They should have had similar struggles. Career struggles Connections: This is a super added benefit, they should be well connected to help you get connected assuming you need it. LinkedIn is a clue here. Wealth: Someone who has already made it or makes plenty of money in their work and does not need you. You do not want a starving coach. A price: They should charge.
Have you forgotten how to dream? I asked that question of a client the other day as he was talking through all of his options. Should he take the job that was a minor promotion (my words - not his) or should he take the job in the other company which is also a minor promotion? (Again - my words not his.)
As he described both, I could tell his heart could care less? “What do you really want?” I asked. He then started comparing the options between the two jobs.
No - I mean “What do YOU really want?” Take all of this off the table. What do you want to do if you could step back and money was not the issue? He stared at me as if I had just morphed into speaking Chinese.
After a moment of awkward silence, I said - “Have you forgotten how to dream?" After another moment of awkward silence, he said - “I have even forgotten what it means to dream." Have you forgotten how to dream? (podcast outline) We have let others do the dreaming for us. They set the agenda.
What has happened to all of us? We used to be a nation of dreamers and innovators. Now we have mostly become the settlers. Settle for this job. We settle for this pay raise. We settle for watching other people do amazing things and work hard. We settle for having our mind numbed by the corporate grind - mostly made up of meaningless meetings and poor leadership. We settle for having our after-hours time consumed with the mission of others - coaches for our kids, school systems who demand us to show up after hours, job functions to go to, or just the grind of the TV and endless TV commercials.
Much of what we suffer is in the name of taking care of our kids and preparing them for college, and then a job, where they will live in the same monotony we have.
Or we suffer from being entertained to death. Videos, video games, etc
3.2 Billion hours of Youtube are watched every month. The number of hours people spend watching videos (aka watch time) on YouTube is up 60% year-over-year
Why have we done this?
Corporate Lobotomy - You become numb. Your mind becomes disconnected from your feelings about work and purpose. You might have been here too long. We are being taught to follow. The average parent is teaching their kids to get into college. Why? We are NOT being taught to dream.
How to recapture the spirit of dreaming!
Find ways to be inspired.
Find new people who fascinate you to hang around them.
Be careful who you hang around! Who You Spend Time With Is Who You Become.
Find new ideas to try. Those things you always wanted to do but never had the time, money, etc.
Make time by quitting the activities that are adding no value to your life.
Does it truly provide you joy? Do you look forward to doing it - or are you just in the habit of doing it?
All about people. Like it or not - people are the thing that inspires us. People who are doing amazing things. People who are passionate about what they do. People who we connect with on ideas or purposes.
Quit the relationships that are adding no value! "Boundaries Updated and Expanded Edition: When to Say Yes, How to Say No To Take Control of Your Life" by Henry Cloud
Then Dream
Failure is not the right outlook - to try and grow is the point. The journey is important - not the destination. See more possibilities:
We tend not to see possibilities beyond
Our degree Our company Our work experience Our zip code For example, in a recent meeting with a CIO who was looking for what is next, he thought his only options were more CIO roles or tech roles. He discounted all he knew.
We tend to kill ideas when we see someone already doing this.
How dare we enter the market? Who am I to do this? Walmart, Facebook, Google, started this way. Others were doing it - they did. So did the corner laundry mat owner. So did the person holding the job you now want.
Do you hate marketing yourself?
The other day someone told me “I hate having to market myself. It just feels slimy - like I am a used car salesman." (No apologies to the used car salesmen out there - the label is well earned.)
But, a central component of any business is marketing and promotion. So, in the Company of One model - where you look at yourself as a business - marketing YOU is important for growth.
So if you hate marketing yourself, this episode is for you.
Be comforted. Marketing yourself is NOT what car salesmen do - well it should not be unless your goal is to have people run from you when you walk down the hall - then it can be pretty effective.
So today we want to talk about what marketing yourself looks like. Professional, not pushy, and very effective.
I blogged about marketing yourself or showing your value in this blog post with similar content: How to Show Your Value. What To Do If You Hate Marketing Yourself (podcast outline) Operations vs marketing.
Operations are about delivering the service. Marketing is about making potential customers aware of your services OR about making current customers aware of how you have served them.
What is effective marketing?
Marketing is a way of serving. Marketing should be appreciated “Marketing is simply letting others know how you can add value to their lives AND reminding them how you have added value to their lives. Either way - it is sort of a method of educating your audience. Marketing, when done right, is helpful and appreciated. “
For example, look at the things you get in an email that you appreciate getting. Are they marketing something as well as serving?
We all WANT to be marketed to. We want to be informed about products that serve us or just to be aware. We want to know what others have done for us after they did it?
Examples would be the mechanic going over the work done to your car or the software engineer having a training session to teach others how to use the code they developed. Depends on industry. Used car commercials work - we know because they keep doing them. Everyone says they are annoying - but the results come in. So we continue to see them.
Yet, you do not see the same kind of thing from other services. Home repair, mechanics, dentists, and even most retailers do a much different style of marketing. But what about professional services - which is where you are?
Professional Services Marketing.
Selling the person and not the product. Focused on what I can do (or have done) for you. Liking and respecting the person being marketing is key. (Therefore being pushy and annoying is not the way to go.)
Effective Ways To Discover how to market yourself inside your company
Look around at the people you respect. How do they communicate value? How do they let others know they have done their job? Look at your own people (who work for you or on your team). Who do you respect here? What do they do? How do you know what your people or team members are doing? How does your boss know what you are doing?
Winning Methods That Almost Always Work.
Provide a reminder email weekly or monthly that provides some data to your internal customer (boss) about what you did.
Use bullets or short summaries. It should be less than 1 page and fit on a screen so they do not have to scroll. Use any data that makes sense - numbers can really help. If you have metrics - use those as talking points. Where are you?
Copy your customers on internal emails where you are announcing an activity you are doing or something you have done. This might be more detailed than your customer (boss) needs but is just FYI. Have an agenda. If you have periodic meetings (staff meetings or one-on-ones) be prepared for talking points. Do not walk in blind - but have an agenda to direct the conversation. For staff meetings,
You need to become a better reader. I know - this might be something you have not heard since grade school.
The old adage “leaders are readers” might not be 100% accurate, but I have found that most people who are getting things done and breaking new ground are in fact, avid readers.
I have also found that those who do not do a lot of reading are typically not growing and average. They usually do not have a lot of insight and seem to be OK with the status quo. Not knocking it - just an observation.
Another observation - I can usually tell who is a reader without asking them.
So whether you are a reader or are wanting to think about how to become a better reader and develop a better reading habit, this list should help you out. Three Steps to Become a Better Reader in 2020(Podcast Outline) First, learn to consume content faster. No, I do not mean speed reading (although that is an option - but takes work) but I mean read smarter. To become a better reader, you need to be able to read more. But, let’s face it, not every word in a book, blog, email, or internal policy has real meaning. Learn to make good decisions about how to move through books faster. Check out this link on How to Read More in Less Time. You can go all out to the speed reading, or just learn techniques to skim that work with little practice.
Second, find the right stuff to read. How? Look to your peers or the leaders in your field. What are they reading? Sure there are many books that we come across that may not be popular and yet still rock our world. I love those gems - and read many of them. They are usually the ones I hear about on podcasts or that are written by people I follow.
Face it, to get into the top sellers is a bit of a game - and not every author has that as his or her goal. My book Resumes are Worthless is one of those. I never went after playing the game. (Yet - still on my someday maybe list)
However, the bulk of my reading tends to come from what is popular and what others have recommended. This is not so much about following the crowd - but more about keeping up. When I listen to a speaker talk about MVPs in an entrepreneurship conference, I want to know they are talking about a minimally viable product from Lean Startup and not the most valuable player from the latest NFL game.
So how to find these books? See what is being read by others who are leaders in your field. What do they post on Social Media or in blogs or mention in talks?
How do I do this?
When I hear a book mentioned I write it down for later. When I see a book in someone's office - I write it down. I have even taken pictures of people's bookshelves to see what they are reading or have read. Often I will just ask “what are you reading?” When I get back to the office, I look them up and will add them to my Good Reads books to read or to my Amazon wish list.
Third, pick up on my recommendations. Since you are here and following me, here is what I am recommending. These fit you if
You are trying to grow your income You hope for more control over your work/career You want freedom as much as you want money Growing wealth and being a good steward of your money matters to you You want to be inspired and realize that you can do more.
Reading List
Start with the Truth - The Bible - This is the best book for business and success ever written. It has inspired me in many ways and even helped me grow wealth. Check out How Being a Christian has Made Me Wealthy
Then 6 books to read - 1 every 2 months
Mindset Books
Mindset Rich Dad Poor Dad (What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!) - This book is about mindset - which is CRITICAL to your thinking. You have to step back and get control of how you look at things and realize much of what we think and been taught about success is wrong - even common sense tells us this. Rich Dad will lay it out.
Write your 15 minute business plan and then get moving providing goods and services for other people.
After all, the only person who reads most business plans is the person who wrote it - the business owner.
But unlike all those people who spend months writing a plan, you need to develop your 15-minute business plan and then start with the execution phase. Here is all you need. 15 Minute Business Plan for Your Startup (podcast outline) The key elements of a business plan are simple and should be obvious if you are getting ready to start making money and serving customers.
Your 15-minute business plan should answer the following questions:
What problem(s) are you trying to solve? Do not be cute or wordy, just state what the problem is in normal words. Best to use the words you have heard potential customers use. Example: Help busy moms with preteen kids lose weight. They are so busy with kids that taking care of themselves is hard.
Who you will serve? It needs to be someone who has the problem and is aware that they have it. For example, an overweight person who does not feel overweight or feel motivated to change it will not want your products. Example: Busy moms with kids who are from 5-12 worried about their weight. What products or services will you offer to solve that problem? Do not over complicate it, but think about the most valuable thing you can offer. The book The Lean Startup calls this the MVP (Minimally Viable Product). Do not overthink it. Be clear. Example: An iPhone app that will trigger mom to plan her day the night before. What clothes she needs out to workout then go on with her day. What foods she needs to prep. Then during the day, the app will remind her what to eat and what exercises to do. The goal - where you want to be in the next 3 years. Then break down to 1 year and 3 months.
Remember goals should motivate you and make you think you can do it - just outside of your comfort zone. Goals are not a wish list - they are things you really are willing to work to accomplish Avoid the delusional zone. ($1billion in sales in 3 years) Think simple steps. Do not overthink it. Create Mainline Goals, Big Win, and Stretch Goals
Mainline - The minimum you want to see and still feel like it was a win. Big Win - You will feel awesome Stretch - If all works right and grows as you planned and other good things happen - this is a stretch.
Who is your competition?
Name the people - not just companies? How can you get to know them and be friends with them?
What makes you different
Business proposition: We do X for Y so that they can Z. Unlike other companies, we …
Example: We provide IT services for small companies that do not have IT experts so that they can focus on running their business. Unlike other IT service companies such as Gee Squad, we provide fast service and turn arounds so your business keeps running. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Lean Startup Master of Engineering Management in Information Engineering and Management
Stupid lies about money are certainly prevalent. Like weight loss, everyone has advice about how to make money and grow wealth. The problem is - most of that advice comes from people who do not have any money. Kinda like taking weight loss advice from a fat person.
OK - to be transparent I am not fat. Oh - you really do not care about that, do you.
Maybe you care more about this. I have zero debt (including real estate) and I am a multimillionaire with multiple streams of income and I generally love what I do. - even the parts when I am working with idiots. You can hear about that on Podcast 157: Finding Joy on the Job Even When You Work for an Idiot.
But I am certainly blessed. I do not claim to be wise in all things money - but I do constantly learn from others who know a lot - and little - about growing wealth. There are definitely many lies we believe.
Before we look at those lies, there are simple, but important truths about growing wealth that we overlook. Today let’s look at a few of those. Quit Believing Stupid Lies about Money and Wealth (Podcast Outline) Truths about Money
Money is tied to people (link to soft skills)
Money comes from people. Companies, governments, or individuals. Every time money changes hands - it is a relationship
Money changes hands in exchange for something. Listen to my What does it mean to be a Company of One Podcast.
Goods - you buy something or someone buys from you Service - you are paid to do something. Your job, clean the house, coach someone in a sport, take photos, etc
Winning with money is about paying yourself first. Read this great book: The Richest Man in Babylon. You tend to behave (with money) like those you hang around - hear more in Podcast 095, Who You Spend Time With Is Who You Become. The Bible teaches a lot about money and wealth. A great in-depth look at this truth in Podcast 132: How Being a Christian Has Made Me Wealthy.
Lies About Money
I do not want to be rich, because rich people are greedy. Time is money. I can get passive income and do nothing. Listen in on Podcast 041: Passive Income From Information Products the Lies and The Truth. College is a way to wealth. You really want to read Rich Dad Poor Dad.
Mindset is Key to Being Broke or Being Rich
From Rich Dad Poor Dad
Poor dad: “I’ll never be rich.”
Rich dad: “There is a difference between being poor and being broke. Broke is temporary and poor is eternal.”
The story of Bob has enough and lives rich while living on little. The story of Rick (business owner) does not ever have enough. Looks rich but is really broke.
Reading assignment
I Will Teach You to be Rich Rich Dad Poor Dad
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Podcast 157: Finding Joy on the Job Even When You Work for an Idiot What does it mean to be a Company of One Podcast The Richest Man in Babylon Podcast 095, Who You Spend Time With Is Who You Become Podcast 132: How Being a Christian Has Made Me Wealthy Podcast 041: Passive Income From Information Products the Lies and The Truth Rich Dad Poor Dad I Will Teach You to be Rich Master of Engineering Management in Information Engineering and Management
Is finding joy on the job - even when you work for an idiot - even possible?
No, I am not asking is working for an idiot possible - we all know that it is. Painfully!
But finding joy on the job is an important part. Can it be done if you work for that idiot? I think so. In fact, I know you can find joy at work, even while working for an idiot.
Here are some ideas on how.
Finding Joy on the Job - Even When You Work for an Idiot (Podcast Outline) Leave. Start looking for something else in a serious hunt. You do not have to be committed to leaving - but just the hunt alone might help you find joy. Recently I was working with someone who was unappreciated at his job. He was not the most organized guy - but he was powerfully effective with clients. But the establishment did not appreciate him - especially two women on the team. He was dogged in every meeting of management. Then when he got a new manager, that manager led by giving him a written warning with human resources. I told Jack that he would never thrive at this company - too much damage was done and they were not a good fit. He should leave. While he is still with the company, he is hot after job leads and bouncing with optimism. His optimism is so infectious that even on his current job he is starting to get some respect. So be ready to leave - even if you do not. Nothing is worse than being at a place that you are not respected or do not fit in. Find the real problem. Sometimes our real issues are not the other people - sometimes it is us. Look in the mirror and ask “What really is going on here?” Your boss might or might not be an idiot, poor leader, or any other kind of an uninspiring jerk - but either way - how you feel should not be in his or her control. Stop and think hard about the situation. A coach can really help you peel back the layers here and find out what is going on. Too many times I have worked with clients who complain about poor leadership, but when I ask questions it becomes clear to them that the boss might not be the whole problem. They own some responsibility. So do you. Find out what is going on. Think about these questions:
What do I need that I am not getting? Appreciation, guidance, accountability, support working with others, etc. What are you missing? How does the boss make me feel? Be honest and own your feelings here. After all - your misery is a feeling itself. What is the source of it? The bottom line is that others cannot make you happy, sad, miserable, or anything else. You can find it fun and joy anywhere.
Be a helper to the boss. Yes, the person you think is an idiot or mean or ineffective. Find out what is going on with them. Someone in their home life? Stress from their superiors? Boredom? Maybe the person that is really unhappy is the boss - and by opening up to you, you might find your work more meaningful. Maybe, just maybe, the ministry and mission you need to take care of most is your boss. Play a game. You know all those psychological games that say smile and you will feel better. Be happy even if you have to fake it. Dress nicer to be treated better. Forget trying to manipulate - but have fun trying it just for the joy of it. When I worked for AT&T, I had a string of idiots I worked with. (OK so given all I have said - they may not have been idiots - but that is how I saw them at the time.) I was miserable. I hated every Saturday because after that was Sunday and it only led to Monday- you know what I mean. So I started playing games with me -and I noticed I felt better. It was just kind of fun. I was ignoring the pain - even looking for an opportunity in it. But something else happened - others seemed to respect me more. Doors started to open. Was is my dress? My attitude? Who knows - but it had effects I did not expect. Not saying it will for you - but it is a game. So here are things to try:
Read the book Resumes are Worthless which outlines how to be a Company...
Leadership void is much more common than we want to admit. In fact, I think it is the norm.
Some voids are caused by poor leaders who provide little vision or direction.
Others are caused by transitions in roles (esp for your leaders) and the inability for overall leadership to define issues and set a strategy.
Either way - as John Maxwell puts it - "Everything rises and falls on leadership."
Unfortunately - even if you are a leader - you are often impacted by the leadership above you. You get stuck waiting for their direction - and in the meantime, you fail to provide direction to those who report to you. You, therefore, become a bad leader. (I have been here many times myself)
So no matter your role or the reason - leadership void is the norm - not the exception. Here are some things to do. How to Lead at Work When There is a Leadership Void (Podcast Outline) The Bold Approach
Engage the leader. Ask them what is going on. Politely let them know you see a void, and things are not working.
You might find
That something big is going on - such as a merger or acquisition or internal flopping about. If this is the case - ask for guidance about how you can help. The leader is clueless and thinks they are doing a good job. In this case - tread lightly. Ask for how you can help them and make suggestions. (Personally, I tend to be more blunt - but a risky move to make since the leader - albeit ineffective - still has power) The leader is leading - but not communicating. (We can argue if they are truly leading but for now - what can you do?) In this case, let them know how people feel. Ask them to be bolder in communicating facts and vision. Volunteer to help set up town hall-style meetings or other forms of communication to get the word out. In leadership, what is not said is often more powerful than what is said. The leader knows he or she is ineffective and working on a solution. In a few instances, I have found this leader willing to talk to me, ask my input, and even ask for help leading. But be careful getting too close or assuming you are on the winning path - this leader is often on his or her way out - even if they do not know it yet. You likely cannot save them.
2. Fill the void. If you do not, someone else will. So it might as well be you. I know you cannot declare yourself a leader, but you can get organized and control your own areas. The best approach to take here is to identify the major players on the team and talk to them one-on-one about plans. Do not talk about the leadership void - instead, talk about your role as a team. Shoot for pulling the major players together to come up with a plan.
Avoid the gossip about the leadership void by taking the high road - “the leader is busy, and it is our job to do this - not his/hers.”
The key is to not lead with power - but lead with influence - asking others' help and working as a team.
The truth is - most people do not want to lead and will be happy you have stepped up to help. Maybe even the boss will like it and join your team.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review,” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Looking to grow your income without leaving your day job?
Growing our income is one of the most common goals we all have - but we rarely talk about it like growth.
Instead, I hear others tell me “I want to make more money”
But what does that mean? Usually a new job or a pay raise.
When I ask “How are you going to make that happen?” the answers come back
Wait for my boss to give me a raise, I guess? Hope that they finally pay me what I am worth. I am looking for a new job. (usually passively)
The challenge is most of us are waiting on someone else to grow our income.
STOP. Take control. YOU GROW YOUR OWN INCOME! Five Ways to Grow Your Income Without Leaving Your Day Job (Podcast Outline)
1 - Start a side hustle doing what you love.
There is no easier way to increase your income and create a long term flow of money.
Teaching others how to do what you love and are good at. We see a lot of this on - courses on how to use their camera, learn a language, do building projects, fix houses, etc. Providing a service for others doing something. Pressure washing. Lawn care. Dog sitting. Organizing kitchens. Making cakes.
2 - Sell stuff on CraigsList, FB Marketplace, ETSY, eBay
All that junk sitting around that you do not use. Take a photo and put it on Craigslist. A friend of mine tells me he sees something that they do not use and he grabs his phone, takes a photo, and posts it. Gone.
One of my team members needed to generate some cash to cover her last few terms in grad school. She started taking pictures of household items she no longer needed and put them on Facebook Marketplace. She sold it all generating enough money to cover her tuition.
WARNING: Can become habitual. I know several people that have had such success on eBay and other platforms that they decided to just not go back to work.
3 - Increase your income on the job (This is often the easiest - but not the fastest)
Find out what really matters. Add more value. Take on more work. Take on the role left by someone else whose job has not been filled. Take on work your company is currently outsourcing. Find a way to add more revenue at work. Find a way to cut costs at work. Use the I Will Teach You To Be Rich method. Use my Company of One method. Ep 130 - How to Increase Your Income – Without Working Any Harder or Any Longer.
4 - Start freelancing
You have skills. Even if you think you don’t, you do. Search sites like Upwork and Fiver to see what other people are outsourcing. What are they doing that you can do?
Programmers earning an extra $30k per year without working hard at it. Grant writing. Writing an email series for companies. Setting up a Wordpress site or other software. Online marketing. See Neil Patel's The 5 BEST Digital Marketing Side Hustles $20 to $195 Per Hour!
5 - Take a second job (one that is fun)
Work in a seasonal shop that you enjoy. Help a company you like to buy from. Usually a local company. Help a friend grow their company.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Udemy.com I Will Teach You To Be Rich Ep 130 - How to Increase Your Income – Without Working Any Harder or Any Longer The 5 BEST Digital Marketing Side Hustles $20 to $195 Per Hour! Episode 119: Developing an Entrepreneurial Mindset
What are the first 5 steps to starting your own business or side hustle?
You could do what most people do when they start a business.
Write a business plan. Yes, get bogged down in the nasty details that really will not matter nor be read by anyone.
Go find funding — usually a loan.
Avoid these stupid steps for almost everyone.
Here is what to do instead.
The First 5 Steps to Starting Your Own Business or Side Hustle (Podcast Outline) 1. Find a problem to solve. Make sure the problem is for real people.
Helping people take care of their lawns. Pressure washing their drives. Reducing accidents in manufacturing plants by doing periodic safety assessments. Assisting online marketers to be more productive by being their virtual assistant.
Avoid things that are not real problems people have.
Saving the environment.
- Who is the customer who will pay? A business or an individual. If you cannot figure this out - move on. Sometimes these poorly defined ideas leave you looking for who your customer is.
Services that help teachers teach in public schools -who buys. Teacher or school? Medical service to help patients - who pays? Doctor in office or each patient?
- Create an offering and make it simple. Example of a tree service company.
Cut down - $500 Cut down and Haul Off - $800 Cut down, haul off, grind the stump - $1000
- Find an inexpensive way to get your offering in front of your customers.
Not cheap - inexpensive. Experiment with things quickly.
- Offer your services repeatedly.
Repeat what works, stop what does not. Decide how many times you need to repeat your offer. (Daily, weekly, monthly) When you think you are repeating too much - do more. It can take 15 or more times before they pay attention to you.
Click here to listen now.
Shout Out
What are you waiting for? LANSDON ★★★★★
If you want to shift the vector of your career.... and your life, this is the podcast for you. Dale has a way of combining positive and practical constructive criticism with motivation, encouragement, and how-to. Company of One flips the tables upside down and will give you a new perspective on self, life, and work. His angles may be unconventional but his results can’t be denied. Of course, I may have a bias considering I’m a student of his university executive master's degree program. Since discovering Dale, my perspective on almost all things has changed and his advice is helping me discover the life I was meant to lead.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Adam's Photography Business - Angie Lansdon Photography Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Career fears are those silly things that keep us from making wise career decisions we want to make.
So many of us look in the mirror and know that we are CONTROLLED BY OUR FEAR.
The Big Career Fears (Podcast Outline) Here are the primary fears holding us back in our careers.
Perfectionism - I will make a mistake. I cannot do anything unless it is perfect. Wrong Path - Once I pick, I am stuck. Careers. College, anything. Self- Made Prisoner - I am stuck in my job/career. It also has to do with relationships. “So much invested.” Overwhelmed - I cannot handle it. I am not qualified — Esp in jobs. Most jobs are not that hard. Fear of fear - We are afraid we might be afraid. We might look stupid. We might be nervous. We might have to ask for help.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
How do you recognize and overcome fear? Fear plays a dominate part of most lives. But success often is found on the other side of fear. How to Recognize and Overcome Fear (Podcast Outline)
What fear really looks like
Excuses Procrastination Perfectionism - Seth Godin - SHIP IT.
What it feels like
Panic attack Frozen (not like the song or movie)
What drives fear
Danger - Reality Ego and Pride
How to get past the fear
Consistent actions- Daily Drive through fear - not around
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
It's OK If You Don't Want to Be an Entrepreneur. Really!
You see the message everywhere that you should quit your day job, take the risk, and make money.
You might be hearing statements like:
You are busy making someone else rich. You are selling out. Entrepreneurs are modern heroes. Business owners make the big bucks. University Entrepreneurship programs are booming. Must be something - right?
Forget the lies and the hype - instead, learn to be a company of one - as an entrepreneur or an employee. Then you have all the choices in the world! It's OK If You Don't Want to Be an Entrepreneur (Podcast Outline)
The messages we hear about entrepreneurship. What is the truth?
About earnings. About freedom. About being the CEO. About customers. About entrepreneurship programs at universities.
Being a Company of One.
Find the work you love doing. Serve others. Grow.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Thou Shall Prosper: Ten Commandments for Making Money The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
You should want to grow your career. Right? It just makes sense?
But wanting to grow your career is not enough - you have to work at it.
Once we start our engineering career (or any career for that matter), we get busy. Work and life take over, and we are so tied up in just keeping up that we forget we need to keep growing.
Last week we hit on the subject of WHY you need to grow your career.
This week we want to dive into some of the HOWs.
How do you grow your career continually and intentionally? How to Continue to Grow Your Career as an Engineer (Podcast Outline)
Develop a Mindset of Growth
Enjoy the game of growth - always explore. Be curious. Be OK with change - it is going to change anyway. Do not be afraid of breaking things.
Learn from successful people/companies
Pay attention to the competition. Pay attention to innovations - LinkedIn videos, conferences, things you hear that you might discount as being irrelevant. Think strategically. “Skate to where the puck is going to be, not where it has been.” (Wayne Gretzky credited quote).
But practically, how?
Weekly thinking time - stop for one hour and think.
Quote from Zuma Founder Alex Garden as written in Measure What Matters "...early in your career ... you're graded on the volume and quality of your work. ... Now you're no longer paid for the amount of work you do; you're paid for the quality of decisions you make." SO STOP. Do this.
Getaway for 1 hour. Pad of paper. Just think about what you are doing. Think about where it is going. Be quiet and think. No real agenda write down notes and thoughts. Last 15 minutes wrap up - anything you need to do?
Establish quarterly reviews.
Set goals - Rocks, Objectives, and Key Results (OKR), otherwise - at a time to reflect. Do not be scared of spending hours or all day here. Worth it! Do this.
Weekly thinking time -but spend more time. Review what you have read lately. What stood out that you might have forgotten. Review your big goals - where are you. Evaluate. Create some ROCKS or OKR for next quarter (keep to less than 10!). Close up the time.
Create a reading list for the next quarter. Where do you need to be - conferences, groups, workshops. What do you need to work on and learn? Where can you learn it?
Udemy Books Courses
Annual reviews
Rethink EVERYTHING.
Goals. Where you want to live? What conversations you had are playing back in your mind? What do you want for the next five years to look like?
TWO DAYS IS FINE HERE. Think company retreats to rethink. Involve your spouse! Create next quarters goals or rocks.
Click here to listen now.
Shout Out Overwhelmed, by Dale Callihan RBAuk
★★★★★
“I really enjoyed listening to Dale’s take on this subject, and I think it is a very serious and important one in our culture today. In our society today, being overwhelmed, which can bring on anxiety to maybe depression, is a serious subject. People need to learn to be more introspective about themselves and learn how to help themselves handle it rather than paying psychiatrists or turning to pills to get out of those states of mind. As Dale points out, venting can be a short term solution, but one must be careful who they vent on - do you really know them. That’s why Dale mentioned venting to the dog or borrow one if you do not have one. It can get the best of you, with emotionalism followed by more emotionalism like a dog chasing its tail or like the definition of insanity. A good friend of mine is a psychiatrist, and being a financial advisor I told him 7 years ago that he was going to see his business breaking out of the walls because of the direction our economy was headed. Well, that’s exactly what has happened as his business with the other doctors has tripled,
Do you grow as an engineer or technology professional? You know the saying
"If you are not growing, you are dying"
It is true for your career - a lot more than you think.
You see, many of us engineers think "We've got this." The technology changes going on around us are the one thing we know well. In fact, we sometimes created them.
But blinders are everywhere. Today I hope to help you see why growth is so important.
Why You Need to Continue to Grow as an Engineer (Podcast Outline)
Why - Recognize how critical it is to grow as an engineer
Most technology professions are changing rapidly New engineers “graduate" every year with new skills Constant pressure on companies to make the best use of workforce and skillsets
Companies are always exiting the old stuff and moving to the new. What part are you in? Current innovations that will change the game
Major Movers in Tech
Networks and sensors Infinite computing AI or Artificial Intelligence - 80% of jobs involve service industry - four fundamental skills
Looking Reading Writing Integrating knowledge - pulling data from various sources
Robotics Genomics and synthetic biology
Spinoffs of these
3D printing everything Automation of basic task - driving!
Example - Zume Pizza
Click here to listen now.
Shout Out
Down to Earth Facts JackieUlmer ★★★★★ “Dale, thanks for your real, honest, down to earth style of educating us on timeless success principles as opposed to those myths we make up about things! As a member of your mastermind group, I promise we were NOT laughing at you! We are inspired by you!”
Subscribe & Review in iTunes
Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!
Links mentioned in this episode:
Episode 4: Disruptive Innovation Bold: How to Go Big, Make Bank, and Better the World Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Do you really need a college degree to become an engineer? This subject is an often debated topic - especially in the hallowed halls of higher education.
Many of my peers hotly disagree with me on this subject. They think I am committing blasphemy to bring up the idea that we may not be adding as much value as we (or any other institution) think we are adding.
Can you become something without the degree? Even something like an engineer, where the expectation is a college degree? Let’s examine the facts. Can You Become an Engineer - or anything else - without a Degree (Podcast Outline)
Education is important - but...
Universities do not own the knowledge - we are one path Universities and society THINK they are the only way
Universities do two critical things to add value
Accountability Credentialing
Universities do not ALWAYS do these things
Quality education Relevant education
So what will disruptive innovation look like in higher ed?
The Dim Future of Higher Education See link http://www.dalecallahan.com/the-dim-future-of-higher-education/
Scenarios
Hiring engineer with $50k in debt who did in 4 years Hiring an engineer with zero debt and did in 2 years using tools like Udemy, EdX, etc
How you can do this?
Focus on developing a plan that uses discipline Determine what you need to learn by looking at syllabi Then find places to learn it. Set a schedule and do it Focus on experience Save a ton of money
Click here to listen now. Shout Out
Helps Others Bookieclm ★★★★★ Dale's style of communication is not emotional hype, rather it is practical and inspirational. He is not doing this solely for the money, but to truly help other people achieve their dream lifestyle. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Dim Future of Higher Education Late Bloomers Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
“Where do you see yourself in five years?” is one of the most frequently asked questions in an interview. Yet, I often wonder if your answer matters much. After all, many interviewers are just following a script.
But forget the interview and think about it for yourself. Where Do You See Yourself in Five Years? If you do not know - think about it.
Why is this important to what you do today?
Lea and I have been struggling with this question lately because there is a part of us that thinks we can just coast. Why do we have to work at anything? We are done.
But recently we have been convicted of how wrong this thinking is. Where Do You See Yourself in Five Years? (Show Notes)
You need a direction
Having a goal creates energy and enthusiasm. Without a goal, you get lazy and depressed. Story of those who have sold out to retire.
Today’s decisions impact tomorrow's outcome
Consider these paths:
Want to be in a new job? Want to be in a new city? Want to be earning more money? Want to retire?
When we serve - we are happier. You are not finished with the race - finish well (2 Tim 4:7).
Decisions today can impact the future tomorrow.
Your Five Year Goals might be closer than you think
From AT&T to Disney. The Ph.D. story.
Where Do You See Yourself in Five Years?
Click here to listen now. Shout Out:
My Comments JosephDees ★★★★★ "Awesome job Dale! I really enjoyed the episode on turning passion to profits with the podcast answer man! Keep up the good work." Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
What Color is Your Parachute? Book for job hunters Master of Engineering Management in Information Engineering and Management
Develop confidence. That is the challenge.
The desire to develop more confidence and composure under pressure is a common theme we see in our professional graduate students. Even those who seem like they are highly confident will confess one-on-one that they are lacking.
A quick look will show that everyone lacks confidence at some level. And all want to develop confidence to a higher level. Yes, even those hard-driving people who look and sound like they eat confidence for breakfast. We are all insecure.
So how can you and I become more confident? It is not as hard as we might think. How to Develop Confidence and Composure (Podcast outline)
First, recognize that you are not alone
Everyone lacks confidence Imposter Syndrome Bill Smith story
Control your inner talk
Capture your thoughts Use Third Person (refer to Late Bloomers)
Take back control in the moment
Smile - relaxing for you and others Breathe -
In these intense moments, we tend to hold our breath Deep and slow breathes
Slow down your talking Lower your voice and your tone
Find others insecurity
When someone is yelling, think “What is gnawing at them?” Often the real issue is not what they are yelling about. When someone is bragging about all they have done and you feel like you have little to show, look deep into their eyes. They are trying to sell you something.
Fake it until you make it
Think of it as an adventure you wanted to take Pretend you are confident The notebook The Fresnel zone
Grow it over Time
Control your thinking and self-talk Download a calm app and practice meditation and breathing
Relax knowing tension helps us perform better
Click here to listen now. Shout out:
Always Relevant and Useful
Gabe Thomas
★★★★★
I've been listening to Dale's podcasts for over a year now and he does a fantastic job of finding, and thoroughly answering questions that are amazingly relevant to entrepreneurs, professionals, and anyone seeking to improve their career. I consistently recommend Dale's presentations, podcasts, and books to my network of friends and contacts. He is a great communicator and sincerely desires to help people succeed.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Late Bloomers: The Power of Patience in a World Obsessed with Early Achievement Calm app Master of Engineering Management in Information Engineering and Management
Where you go to school matters - right?
With all the attention to college acceptance bribery cases involving actresses Lori Loughlin and Felicity Huffman, we might think that it really matters where you go to school. After all, why would they pay a ton of money if not?
But when we peel back the layers of the truth and the norms, we see that most of us fight to get our kids into top schools and rarely does it happen.
So with all the energy and activity around it - does it even matter? Does it matter where you go to school? (Podcast Outline)
Quick answer -No
Dave Ramsey answer - “Happy to have a Harvard Grad work for me.” Plenty of examples of significant success without the top degrees (or degrees at all for that matter) Do you really learn? MIT video of graduate engineers who cannot light a bulb -
When it might matter
Hang with elites - Senators etc Bias to college in your career path Example - Vice President with degree bias
Why it rarely matters
We usually do not take any advantage of the alumni network Alumni network not well cared for Return on Investment (ROI) rarely worth paying extra Content tends to be the same The top-notch faculty are rarely seen by students Bias never stays the same - people move
How to have a top college experience without the fees, and maybe without the college!
Build your network Do awesome stuff
Click here to listen now. Shout Out Genuine and super smart Patrick_Cash ★★★★★ "Love listening to this. He genuinely cares about helping people. He wants you to get out of the rat race and live the amazing life you're meant to live!" Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
MIT video of graduate engineers who cannot light a bulb Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Engineering Management (EM) vs MBA? That is a question I have talked about a lot in the last few years.
I have both a masters in engineering and an MBA. And since joining the university, I have been running an engineering management program (Information Engineering and Management or IEM). So I have seen them all up close and personal.
I have the conversation almost daily with engineers and technology leaders who are looking to grow through higher education and considering both the MBA and the Engineering Management paths. Should I Get a Masters in Engineering Management or MBA (Podcast Outline)
Things to consider before making the decision
The company I work for or want to work for - culture Knowing where you want to go
Define your goal
Management strictly and get out of technology Move into technical management
MBA Programs - Not all the same
Course work similar but varieties
Economics. Accounting. Entrepreneurship. Marketing. Strategy. Project Management. Organizational development.
Connections to industry highly variable
Some pure academic Some talk about the industry with little true connections Some highly connected
Engineering Management Program - Not all the same
Course work variations
Statistics Systems engineering Project Management. Entrepreneurship and Innovation. Leadership and strategy. Communications. Technical paths.
Connections to industry
Often less than in the MBA. Look behind the scenes and ask questions.
How to evaluate
What is your goal?
Move into technology leadership. Pure academic vs applied. Just get a degree.
Look at faculty
What industry backgrounds do they have? Have they ever practiced what they teach?
Is experience required
If you want to grow your network - go for programs that require experience Many programs geared to recent graduates
What are the income projections?
Other Considerations
Does the EM talk more your language Does this EM help you move from tech doer to tech leader
About IEM
Real-world Real faculty Client-focused vs curriculum-focused Coaching The $30k challenge
Click here to listen now. Shout out:
Very Beneficial Jashaw175 ★★★★★
"The information Dale presents has been very beneficial in my job/career search. I recommend Dale's website and podcast to everyone. The benefits from his knowledge and expertise are without compare." Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Master of Engineering Management in Information Engineering and Management Master of Engineering or MBA?
Ever heard of hidden engineering jobs? Estimates indicate that over 80% of jobs filled each year are hidden jobs. What is a hidden job? Many will define hidden jobs as jobs that never get formally posted to job boards. But it goes further than that since many jobs posted on sites like Indeed are not real. They have already been filled before they were posted.
They were hidden, and once the company found the person they needed, they formally posted to meet various guidelines and regulations. But, even though the opportunity had been posted, it was already filled.
So the trick to finding new opportunities in engineering and technology is to find those hidden jobs before they are filled. Hidden Engineering Jobs - How to Find Jobs that Have Not Been Advertised (Podcast Outline)
The mindset of hidden jobs - creating or finding a need
Have you ever made a big purchase when you were not really looking?
For a big-screen TV A car A home A vacation
Jobs are the same process - advertising works
Why are there jobs hidden
Some jobs are not advertised YET. Some jobs are silent searches. Some jobs are not advertised because the company has not defined the position enough to write the ad. Many jobs are not even defined yet - the need is there but not apparent to the leaders about what they need or who (THESE ARE THE BEST HIDDEN JOBS).
Define where you want to go
Have a direction. There are too many to chase without focus. Think about your calling - what lights you up. Go after what is fun for you.
Find the people doing the fun stuff and reach out to them for a reverse interview
How to find them. How to reach out to them and what to say.
What to say when you meet with them
The three core questions to ask. The one million $ question to ask.
How to end the meeting
End on time - with them wanting to talk more. Do not leave a resume. Get an open invitation to contact them again. Thank them and leave.
Evaluate the meeting
Are they a top 40 pick? Do you like what you heard? What was their pain? Can you fix it? Define the opportunity as you see it. Put it into words. Does this person have the power and budget to hire? If not, can they get you to that person?
How to follow-up
Send a thank you immediately. Connect on LinkedIn with a personalized message. Set a 15, 30, 45, or 90 day follow-up time (Contactually/Excel/SalesForce).
Create a process
Repeat steps above to add new contacts and opportunities. Set a time to do follow-ups and DO THEM. Keep defining opportunities. Focus on the top 5 opportunities until they resolve or go away.
Never stop - even when you land a job
Click here to listen now. Shout Out Imagine the possibilities
Eddybap
★★★★
“Dale helps people imagine the possibilities of doing the work you love. He helps us think outside of the box and gives practical ideas along with lots of stories of how others have begun doing work they love. Thanks, Dale!” Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes! If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Find Your Calling The Reverse Interview Ep 133: Your Daily Routine for a Productive Job Search Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Finding hidden jobs is like finding a rare coin in your spare change - easy to go unnoticed but fun when you find it. And sometimes, valuable.
Clients and students often tell me how there are so few jobs available. But when others look, they see jobs everywhere.
In today's podcast, I am going to give you some examples of how to see jobs everywhere you look. Finding Hidden Jobs Everywhere You Look (Podcast Outline)
Your expertise and connections lead out to certain places
Friends invite you to their company You are in a new city driving around you see company names you have never heard of. You are in your city, and you find something you have never heard of!
As you see what others are doing, you see other opportunities
Who supplies their core technology? Who buys from them? What kind of challenges are they having? Example - EITD NASA Operation led me to know about and an obscure company that makes cryogenic cooling elements for satellites -- https://www.sunpowerinc.com/
To help you unlock these hidden opportunities
Check-in with your friends. Ask them what they do. What kind of problems do they have? Be curious - ask about their supplies and customers. Be active in professional associations
Speakers coming in with varied backgrounds Tours of places you have not seen
When you travel
Go to your professional association meetings in other towns. Look at the industry makeup. Who are these people? Get on LinkedIn and see who you know. Do a LinkedIn search before you go to another city to find out who you know there. Great time to connect.
Be local
There is more going on than you think there is. Jim Little of New Capital Partners (Private Equity Firm) told me that he is constantly finding new companies doing great stuff that he never knew about - right under his nose. And his job is to know about possible investments. Do tours - See what friends and associates are doing by looking at their operations. They may not be technical at all - but could lead to an opportunity. Talk to others - Ask questions of people in your industry and in your professional organizations about what they do and their challenges
Give them a shout out- When you learn about something new - post about it and the people on social media - LINKEDIN mostly Seek out customers of your product.
The job finder guide “What Color is Your Parachute?” tells the story of a guy looking for a printing job. Instead of going to the printers, he went to major offices and asked who did their printing.
Learned the good and the bad He got to know the customers. Many were happy to talk to him and offered to give him connections.
Click here to listen now. Shout Out Practical and usable! thechampionentrepreneur ★★★★★ I love when I stumble across a podcast that has practical and usable information in it. Dale has done a great job of providing valuable information which I can use on a regular basis. Thanks for sharing Dale, keep up the good work.
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
UAB Engineering and Innovation Technology Development (EITD) Sunpower - Makers of Cryogenic coolers What Color is Your Parachute? Book for job hunters New Capital Partners - Private Equity Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering an...
Do you need a 6-week plan to start a side hustle?
I know I did. When I start projects, I like to have some idea of where I am going. But in business startups, I have found I am often running blind.
When I meet with clients who are in the startup phase, I find they are often confused about what to do next. The advice they listen to (assuming they are listening to any) is often poorly thought out and keeps them busy with things that are not important.
So here is a simple 6-week plan for starting a side hustle you can do even if you are starting by working only at lunchtime or the few hours you can steal away to do your work. Your 6-Week Plan To Starting A Side Hustle (Podcast outline) Week #1 - Define Your Idea
What will you do? Who will you serve? How will you get paid? Use plain English - do not need a fancy slogan - this is just for you.
Week #2 - Test and Get Feedback
Test your ideas. Especially if you have more than one.
Do not get bogged down in details UNLESS high risk or wealth (See 139: How to Decide if My Startup Should be an LLC or S-Corp) If you need an LLC or some other structure then try to get one that would cover any of your ideas. (LLC of Callahan Enterprises instead of Callahan Lawn Care) Define some easy customers Start with a simple offering Do the work Get paid
Get feedback from your customers
Ask what they think What would they like LISTEN / LISTEN / LISTEN
Week #3 - Evaluate and Adjust
Evaluate
After a few weeks or a few jobs/deliveries How do you feel? Still excited? Did anything happen that made you squirm? Make a decision to stay, pivot, or stop.
Make adjustments
Adjust your offerings to be more in line with what customers want. Adjust any processes such as how you get jobs.
Put on your calendar to repeat evaluate and adjust periodically. (A repeat of week #3)
Week #4 - Market / Market / Market
Get a clear view of your ideal customer
Who are they Where are they How do you get in front of them
Create offerings with the ideal customer in mind Market Deliver Serve
Week #5 - Create a Cash Plan
Decide what to do with the cash
Most just pocket the cash and spend Instead, you need to have a plan. See Ep 118 How Much Should I Pay Myself?
Create proper bank accounts
Week #6 - Create simple Processes
Create simple and repeatable processes for
Doing marketing Taking orders and delivering the product/service Doing the books (monthly) Handling the cash
Document processes as you go with an eye toward growth
Use simple tools like Asana
Click here to listen now. Shout Out Highly recommended. RodneyPhillips ★★★★★ "Dale never fails to give straight forward, well thought out advice on improving your self as an entrepreneur or want to be an entrepreneur. Dale gives out a wealth of knowledge and seems to have a sincere desire to help his fellow man/woman. Thanks." Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
139: How to Decide if My Startup Should be an LLC or S-Corp Ep 118 How Much Should I Pay Myself? Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
Going to start two businesses at the same time? Entrepreneurs usually abound in ideas they can offer to the market. Often you will see those with an entrepreneurial spirit starting multiple businesses back to back. When you talk to them - they even have ideas for other money-making ventures.
But is being a multi-passionate entrepreneur a blessing or a curse?
Opinions vary widely. So today we will take a look at all three opinions - yes, no, and it depends and find out which one is correct for you. Should I Start Two Businesses at the Same Time? (Podcast Outline)
Common advice
No. You need to focus to make it work. It depends - get clear on your goals and decide which business is the main business. Yes - but not at the same time.
How a startup really looks - example of a lawn care company
Mowing lawns is the focus so you start working with customers you have or know. Taking payments and working with customer issues starts to creep into your time. The need to start finding new customers - so marketing becomes a big issue Taking calls (from marketing) stops work. (The plumber under your sink is taking a sales call) Equipment issues creep in. Operational maintenance. Business issues hit at the end of the month (doing the books) and the end of the year. You realize you need more structure.
Where to keep records How to track customers How to track when customers last bought from you. Dealing with customers who do not pay on time
You need help and need to hire.
Now you add in insurance Need management structure. Training becomes an issue. They need to do the job the same way you do it More equipment is needed for 2 people.
In short - every business needs operations, marketing, finance, and research. A lot of roles.
What happens in business two - Example of online sales of workout equipment
Store management Inventory Shipping Other customers Expanding issues of management
So why do people say NO - do not start two businesses at once?
Starting 2 things is like taking two jobs where you need to learn a lot and excel. Startups take focus and energy. The two companies often start to diverge in the kind of things you have to do and think about. Becomes unmanageable quickly. Usually leads to two failures or two mediocre results.
Why "it depends"?
Focus on long term goals and the two might fit Finding synergy could work.
Lawn care company that does training for other lawn care companies Lawn care company that sells lawn care supplies Both have similar customers and similar equipment needs.
Why the yes?
This usually applies to serial entrepreneurs - people who start one then once it gets going start another. Serial entrepreneurs are almost a given. Once you start - it's in your blood.
My view about starting two businesses at once?
Get clear on your goals.
Who do you want to serve? How do you want to help them? What is a success? Where do you want to get to?
Revenue Profit Number of customers Quitting your day job
Which business will get you there the fastest without debt? Pick that business and move toward your goal. Use a second business that is a spinoff of the first - related but different
Lawn care > lawn care product sales Software development > software-based product Consulting or contracting > Training and teaching others how
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you.
Trying to decide if your startup should be an LLC or S-Corp?
In the startup world, this is one of the most frequent questions I get. It falls closely in line with
Do I need a business license? Should I incorporate or not? How do I find an attorney and CPA?
I have dealt with parts of these subjects in past episodes.
Ep 115 - What you need in terms of LLC or business license Ep 56 - Do I need a business license to sell online? Blog Post - Do I even need a business license or LLC?
But today I want to dive into the issue in another direction - a common-sense strategy for deciding when and what to do.
But I am not crossing over into the world of CPA or an attorney. This is not legal advice - it is common sense advice.
Both the LLC and S-Corp have legal and tax implications - but we want to visit a common-sense thinking about where to start asking questions. How to Decide if My Startup Should be an LLC or S-Corp? (Podcast Outline)
When you need neither LLC or S-corp
No risk of danger.
Selling online courses and online merchandise that is considered normally harmless. Clothing and household items. Advice or consulting that is not health-related or tied to risk of money. Dating advice or educational advice for instance.
No wealth - Your net worth is not enough to attract frivolous lawsuits. (Under $500,000)
When you need Legal protection
Risk of health or wealth
Selling any food item or weight loss or medical (even vitamins) You are providing advice or consulting to businesses where they could lose money. You could cause damage that is expensive to repair. Someone might get hurt.
You have personal wealth over $500,000
Get some corporate structure and insurance
A corporate structure gives some distance - if you do it correctly An umbrella policy is basic for business people or anyone with any wealth Specific business insurance like errors and omissions or product liability should be in order. Check with an insurance agent who deals in business insurance. Find a commercial agent. See article in show notes to SBA.
The Tax Man Side
If you have significant income in a business and you will take a salary (say over $100,000) you need advice on the best structure. The difference an S-Corp offers is how self-employment taxes hit you. That is Medicare and Social Security taxes. Great article in show notes about details by LegalZoom.
My updated formula for deciding on a side hustle legal structure.
If you are just starting and expect a small income (under $25,000) first year, have little risk in your services, and are not wealthy (net worth under $500,000) then just go as a sole proprietorship. Anything else, seek the advice of a CPA AND an attorney. (Yes both. They do different things.) As you grow and start to move up in income - seek the advice above.
Never get distracted or delayed on this stuff. If it is slowing you down due to indecision, get advice and move on.
Click here to listen now. Shout Out I love the show... I have been inspired...by Tony.L.Horton RATING: ★★★★★ "I love the podcast, Dr. Callahan. I have always wanted to be an entrepreneur/inventor. Your podcasts are reigniting my entrepreneur spirit. We meet briefly when I was exploring the IEM program at UAB. I am a UAB alumni (2001) that started my educational journey with a desire to have degrees in both computer science and electrical engineering. However, during my sophomore year at the United States Military Academy, I ran into a roadblock called the Laplace transform. I figured I could be a mechanical engineer instead. Thank you for all you are doing."
Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear,
Where do you find the time and the money to start a side business? You never have enough of either - right?
But do a reality check. Others have. Other people have been more broke and had less time and found a way.
And ... they are not any smarter than you.
But yet, we struggle. Families. Jobs. Friends. And even just fatigue saps us of time.
So today I will unpack several common practices that others have used to find the time and money to start a side business.
We will start by dealing with the money issue (wow do I hear this one a lot - no money to start).
Then we will get into the time issue, how can you do a time audit and carve out minutes to make it happen.
But most important - I will provide you several common mistakes I see others making in the area of time and money. Avoid at all cost. How to Find the Time and Money to Start a Side Business (Outline of the podcast)
Reality check
Many have started with no money Many started with full-time jobs and made it happen
Dealing with the money issue
Start small
Use what you already have
Cell phones Computers Tools Your mind and creativity
Focus on serving the customers need - not your expectations
Example - Homeschool products example
Do not overthink it Supplement with renting or bartering
Landscaping example without equipment Bartering for services (Angie)
Avoid the traps
Do not borrow $ Do not lease (another form of borrowing) Do not over-promise (Promise what you know you can deliver)
The reality - most US companies start with almost nothing.
$2000-$5000 Startup $ does not determine growth (ADC vs AmericanIP)
Dealing with the time issue
Many do this - with kids, jobs, and life
Flipped Lifestyle - Shane & Jocelyn Sams story
Audit your time
(like my fitness pal) See where you are wasting time (Daniel Story and link to his page and book) Make decisions about priorities
Carve out as much as you can. Think 60-minute windows each day
Put on calendar Make an appointment with yourself
Focus on what you need to start
Day 1 - Define your services (write it down) Day 2 - Where will you find your customers Day 3 - Start advertising Day 4 - Keep advertising Day 5 - Serve, adjust, and advertise Day 6 to 1,000 - repeat day 5
Avoid the traps
Focusing on the non-essentials
Logos Business cards Office supplies Websites
Creating too many systems and overthinking at first
LLC Bookkeeping Insurance
Failure to create systems and think about growth once you have started.
Upcoming Episode 139 next week –
Should I use an LLC or S-Corp in my startup idea?
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Sea of Trees (My son's book - examples of managing time from the podcast) Episode 137: How to find a business idea for a side hustle Episode 119: Developing an Entrepreneurial Mindset Episode 115: Do I Need a Business License? Master of Engineering Management in Information Engineering and Management
Want to know how to find a business idea for a side hustle?
To some, it seems daunting - to others simple.
You might be the person who comes up with 20 ideas a day, or maybe you are the person who has no ideas.
Either way, there are traps in both sets of thinking.
Today I will go over some simple ways to uncover ideas and common mistakes others make.
How to Find a Business Idea for a Side Hustle (Outline of the podcast)
Goals of the Side Hustle
What is a Side hustle? What can you expect to earn (realistically)?
Two quick ways to generate ideas
The Calling Exercise
What do you love to do? Where are you gifted? What do others ask your help with?
Search for similar services
Fiverr, Udemy, Amazon, or local services pages What do you see offered that you know well
What to do first
Start with a service. Easiest to do and start and grow to a decent income. Use tools like
Fivver Upwork Craigslist Putting flyers on doors Example from IEM - Handyman to Powerwashing Business
If a hit - grow into a product
Writing resumes for people - develop a book or a course (Debra Mastic's Resume service to products) Hire people and build a team to do the work.
For a plumbing service - Doing plumbing for people - Hire plumbers or create a course or content for DIY
Create information products
Check my series on building information products in 30 days. Example - Patrick Cash - Lawn Care to service business
Common mistakes
Overthinking it Trying to make it perfect. (Sitting at Fivver worrying over the packages $5, $50, $100) Just hit enter and adjust Failing to deliver. When someone buys from you - respond and deliver fast
Upcoming Episode 138 next week - how to find time to start a side hustle
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Create Your First Information Product in 30 Days Fiverr - Service offerings starting at $5 Upwork - Freelancers Udemy - Online training products Side Hustle: From Idea to Income in 27 Days Pressure washing (Scotty Lett - Iron City Power Washing Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
How can you use the reverse interview to stand out in your current company?
In this podcast, I will should you just how to do that!
Here is my outline of how to use the reverse interview on your current job
What is a reverse interview? Check out my previous episodes for details on the process. A quick summary would be that the reverse interview is used to help you connect to people by asking specific questions to get them to talk. Usually, this is used to find a job or start a company. The questions are:
How did you get to where you are? What do you love or hate about this job? What keeps you awake at night?
Why use the reverse interview with your current company?
To help you do a better job.
To learn how different departments and teams work. To seek to understand.
Personal reasons.
To find new opportunities. To get noticed and promoted.
How to do the reverse interview on the job.
Be targeted and intentional.
Start by defining what you want to learn.
What goes on in another group? How to grow into leadership? How to improve processes on your side as you interface with another group?
Check out other lines of revenue in your company to learn best practices (Schools at a university, different product lines, different locations). Reach out to meet one-on-one to discuss problem X or opportunity Y or to learn how they do Z.
Be general and open.
Go to meetings. Go to some of those boring and pointless meetings to learn who the people are and what they do. Connect with those who you work within other departments to “understand better”.
Be growth-minded.
Who is in the position you want to be in.
Be careful.
Get the blessing of your boss before doing this. Connect with higherups OUTSIDE of the company. Professional organizations.
Specific Talking Points from the Podcast
[01:15] What is a reverse interview? Let me give you a brief review. [04:26] The reverse interview process is great for your company of one. It allows you to network powerfully inside your company. [09:26] Often we need to connect to higher-ups in the company. Here is a trick I have used with many clients. [13:38] In many companies, conflicts can arise by talking above your level. Here are some tricks to do that and be accepted.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The Reverse Interview Process The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change Master of Engineering Management in Information Engineering and Management
What I want to hear you say in an interview is how you will help me win. It is as simple as that.
But while most of us understand this simple message, we think we have to talk about ourselves - accomplishments, strengths, all that stuff.
STOP!
Remember that you are a Company of One.
You are looking for a new customer.
So in a job interview, you are trying to sell a POTENTIAL customer.
Customers do not care about you, your plans, or your goals except in how they help them achieve their goals.
So, what you say in an interview should be you talking about yourself but making it sound like you are talking about me.
What does this look like
1 - Tell me how you fit into the company culture.
How do you show this?
Ask me questions about my culture Show that you have met and know some of my team.
2 - Care about what I need and value
Demonstrate by
Asking me directly how a person in the position you are applying for wins What is your measure of success
What I do NOT want to hear
Complaints about past employers or coworkers. Instead, talk about why you left in terms of you. Do not tell me how to run my business.
The key message here - show me how you add value to me and my team.
Here are a few highpoints from the podcast:
[01:32] We are always being interviewed. Every time you have a discussion with a business owner or someone who has the power to hire, an interview is going on. [05:30] I want to know how you fit my culture. This is how you do that. [08:44] Demonstrate to me that you already know my team. [13:42] The questions you ask me tell me a lot about you. [19:21] This is how you demonstrate expertise without insulting me. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
The 7 Habits of Highly Effective People
Other Helpful Links:
Master of Engineering Management in Information Engineering and Management Episode 133: Your Daily Routine for a Productive Job Search
Looking for a job after 50?
How many of these thoughts are going through your head? I will have to start over!
I am so specialized in my area of expertise that I can never find another job that needs my skills.
I am going to have to go back to school to learn new skills.
No one will hire me now that I am over 50.
I am competing against people of a very young age who will work for less.
You might be coming out of the military.
You might be coming out of a long career where you have developed deep technical expertise.
But you do not have to just give in. You have more to offer than you think.
You Have More to Offer
Too often we undersell ourselves. Do not do it.
In today's podcast, I will give you specific strategies about how to revamp your thinking and position yourself for a new success. Click here to listen now.
[01:22] Recently I have worked with multiple people over 50 who have been fired. Some are retirement eligible but, for multiple reasons, did not want to retire. [04:56] The first thing you need to do is to control the thinking. Do not give in to the messages in your head. [10:50] Experience is huge. There is a wide and frustrating experience gap in the industry. Even older experience that seemed outdated (COBOL, Mainframes) can be reused. [20:26] Work a plan. Go back to episode 133, Your Daily Routine for a Productive Job Search, and develop a simple plan on how to use your day. [21:47] Get past HR, go to the senior people on the team.
Take a short moment to check out the video of President Reagan debating over his age. He speaks a powerful truth that we often overlook.
You might need to watch this video over and over!
SPOILER ALERT: He got the job
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Late Bloomers: The Power of Patience in a World Obsessed with Early Achievement President Reagan Debate - Age issue Resumes are Worthless 48 Days to the Work You Love Your Daily Routine for a Productive Job Search Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
How can you make the best use of your day while on a job search?
If you are out of work, or about to be, you need a solid plan to make the best use of your day. After all, every day out of work costs you money.
I have had the honor of helping many professionals in job searches.
But I have noticed that most people on the search really do not know what to do.
How to make the best use of your day on a job search
Today I cover a step by step plan that has worked.
This plan will help you find a job faster, feel better, and be more in control while on the hunt.
[01:20] Calculate how much you are wasting per week not having a job. Get clear about the cost of your time. [03:28] Take your first week to get clear on the goal. Do the Calling Exercise. [06:05] Here is how Brian found his true calling and moved into a job he continues to love today. [11:46] Now you start to schedule your day using Tiger Time. [14:54] You need to get your blood pumping, you need to get some energy and to clear your mind. You need to get a little motivation. [27:15] For 2.5 hours you need to be making real contact with real people. Here is how to do it. Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
How to Find Your Calling Resumes are Worthless Tiger Time with Amy Porterfield Eventbrite How to set up reverse interviews Master of Engineering Management in Information Engineering and Management
Being a Christian and being wealthy can seem like an oxymoron. I confess I have struggled with money and faith.
As a Christian should I give it all away and go live a life like Mother Teresa?
Or as a Christian, how do I recognize my gift of serving others through education and business?
Could it be that the Bible is the best business book ever written?
Today, I will share a bit of my story of how becoming a Christian helped me to grow wealth like never before.
[02:41] I have always been focused on success thinking. Whether I am teaching future engineers, working with professionals, or helping others start companies, I am always focused on ways to help them become successful. [05:44] Our culture connects wealth with evil. These messages are powerful in music, movies, the news, social media, and even in schools. So Christian wealth seems an oxymoron. [13:05] I started to become service-oriented and think a lot about how I treated and served my customer (and my boss). [19:08] I begin to see my gifts. What I thought I was good at was wrong and the source of a lot of my struggle. I found my gift and served better knowing it. [23:01] The work I did was becoming more valuable because I was using my gifts and not being timid and hiding them. I paid attention to the needs of others, saw a place I could serve, and served.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management Thou Shall Prosper: Ten Commandments for Making Money
Overwhelmed at work? You have to learn to eliminate, delegate, and automate.
I know what you are thinking...
Eliminate? What can I stop doing? It all has to be done.
Delegate? To who?
Automate? I do not have time (or the skill) to do that.
Really. Then why do some people, who are busy like you, seem to get more done? Come on - you know some of them just like I do.
The number one issue professionals talk about is being overwhelmed. Too much to do, to little time, and new stuff coming every minute. What a hassle.
Today we will look at a simple process for getting clarity and then getting busy fixing what is broke by eliminating, delegating, and automating some (or all) of our work.
No need to be a victim - Take control and fix it.
[01:56] Overwhelm is not a fix it once and done problem. Like cleaning out the closet, you have to continually revisit. [03:53] Meetings. We can't just stop doing them, we just need to eliminate some and make the others more effective. And more effective does not always mean shorter. [06:46] Do an assessment called Delegate and Elevate. Takes a few minutes, but well worth the time. [11:23] Often we are doing work that our internal customers do not value or even know we are doing. [18:42] A coworker of mine had a knack for leaving the office with nothing done and coming back the next day with a great presentation ready. He was using creative outsourcing. [22:16] Automation is easy, often requires no skill, and even free much of the time. Try one of my automation tools that keeps me from being overwhelmed at work - set a meeting with me.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Episode 129: What Does it Mean to Be a Company of One? Master of Engineering Management in Information Engineering and Management EOS Delegate and Elevate Excercise Calendly Automate the Boring Stuff Upwork - Outsourcing Doodle Polls
We have all heard it. You might have even said it “The harder I work, the less I make.” If you feel that way, you are doing it wrong.
Back in episode 129, we explored the idea of being a Company of One. That means you, yes you, are an entrepreneur right now. And what reasonable business owner would settle for working harder and making less money.
Today we will explore some simple and practical (yes doable) ideas to help you increase your income.
While on the same job! No need to quit. No need to take a side gig. Instead, let's look at your number one incomes source - your job - and find untapped potential to make more money.
[02:19] The $30,000 challenge. In our online graduate program (UAB IEM), we push people to grow their income by $30,000n while they are in the program.
[02:46] EXCUSES: I already work so many hours a day. I don't have time to take a side job. I work for the government. I work for a big company and we don't operate like that. I am at the top of my pay range. All that's a bunch of bull because all that doesn't matter.
[6:28] Your customers - anybody who takes out money from their pocket to pay you. These are your customers.
[9:03] What do your customers need from you? What's missing?
[17:17] Example 1 - Repackaging data for better communication.
[20:06] Example 2 - Expand your role with what you know well.
[21:13] Example 3 - A skill you have learned how to do that your team might need. In other words, add a new service.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Episode 129: What Does it Mean to Be a Company of One? Lee Moradi - UAB Professor who has multiple jobs Master of Engineering Management in Information Engineering and Management The Entrepreneurial Operating System Hyde Engineering
How do you become a company of one? What does it mean ot be a company of one?
It seems everyone wants to be an entrepreneur. We want to get control of our time and income. We want to have the ability to serve more and grow.
But I want to help you see a new perspective.
You already have more control of your time and income than you think.
Whether you are an employee or an entrepreneur (or unemployed looking for a job), you have a lot more control than you think.
Your job is to take control. Here, I will start showing you how to take control and earn more money - getting control of your time and your income - just like I have done for hundreds of clients.
[03:01] What is the difference between an entrepreneur and an employee (not as much as you think.) [06:03] The four roles of your company of one. [12:04] The exchange of goods and services for money is what we call doing business. It's as simple as that. [14:57] You do have ownership and control. You are a company of one. [20:23] You are an entrepreneur - so start acting like one. The number one thing that you need to think about as an entrepreneur is, "Who am I serving today?" and "Who is my customer?" [23:30] Own it. Take responsibility for your own Company of One. You are the company. You are the brand. Own it.
Click here to listen now. Subscribe & Review in iTunes Are you subscribed to my Company of One? If you’re not, I encourage you to do that today, so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you! Links mentioned in this episode:
Episode 119: Developing an Entrepreneurial Mindset Master of Engineering Management in Information Engineering and Management
As a business owner, I know the value of a business marketing plan. A marketing plan typically covers a year of activity. By having a plan, we know what is coming and can slowly move toward a goal. You also need a marketing plan - a personal marketing plan. Why would you leave your image and your future growth up to chance? You need to have a specific plan for how you will grow in the next year. Here are some quick ideas to help you develop a plan to grow the business of you.
[Tweet "You need a personal marketing plan to grow the brand of you. #CompanyofOne"]
The key steps to getting to the marketing plan are:
- Evaluate your image
What message do you communicate via your words?
Social Media - What message are you sending? Your spoken words - Are you uttering phrases like "Thank God It's Friday" or communicating a negative image unintentionally? Your attitude - Are you that grumbling cashier who has 15 more minutes to get to a break and is happy to tell the customer how long they have been working? Foul language - Do you blurt out expletives? Do you think it is OK and everyone does it?
How they see you. Visual images tell a lot.
Posture - Do you look weak and passive or strong and confident? Dress - Are you dressing like a professional in your field? Look at your bosses and your CEO for a clue.
- Set goals
What do you want for you in the next 2-5 years? This might not sound like an image issue, but when you know what you want it comes across often in conversation. But, this also helps you make quick decisions on so many things that happen through the day. You become intentional instead of passive.
- Get feedback from 3-10 people. One of the most powerful ways to see where you stand is to simply ask.
Pick 3-10 people that you want to influence and ask them for feedback. One of the most powerful ways to see where you stand is to ask. Ask your boss(es), co-workers, and those in professional organizations where you volunteer.
Ask them how you are doing and what they think you need to work on for your personal marketing. Tell them you want their honest feedback. Email is a great way to do this.
- Hire a coach to help you grow
Yes, a coach. We get a coach to get in shape, to learn a sport, or even to learn a new skill. But, we never think about getting help with those tiny little things that impact our income. So, hire a coach even if you do not know why you are doing it. The coach will lead you through the process.
Coaches will help you
Find your blind spots Clarify your goals Be accountable to make positive changes
- Create a monthly marketing plan
With self-evaluation, feedback from others, and coaching as part of the plan, you can find something to do - even if a small thing - every month to help you grow. Schedule time in your own Tiger Time to focus on growth.
Links mentioned in this episode: Productivity Hack – Tiger Time using Google Calendar
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
Subscribing is simple!
Go to iTunes. Click Open In iTunes Hit subscribe!
While there why not leave me a review! Stitcher If you are a Stitcher listener, I have not left you out! Just click Company of One on Stitcher!
Do you have a pile of unfinished projects laying around? Those pesky projects tend to drain your energy as you see them in front of you begging for attention. We can throw them into the closet and ignore them, but some projects just need to be finished because - for whatever reason - they are important. Here is a trick I use to get those unfinished projects done.
[Tweet "Get those pesky projects done. #GettingToDone"]
My Steps to Complete those Unfinished Projects
Define finished - One thing that gets to me is that we rarely know what finished looks like. Small DIY projects as well, as multi-million dollar corporate projects, suffer the same issue. How do we know when we are done? What does Done look like? Set a deadline - There are times when others put a deadline on us and we find we can get it done. So, why not use the same trick for projects you want to get done. Set a deadline! Break down the steps into as little as 15-minute actions - Work backward from your deadline to set steps and a schedule. Break down into specific actions that are measurable. Not things like "research paint color" which is an ongoing activity, but instead "choose a paint color" which is done and measurable. Who will do the work? Most entrepreneur types (like me) think they need to do it all. How about you? A better option is "who SHOULD do this task?" Break each task into who does the work. Your action will be defining what DONE looks like and finding the person to do it. For example, when we were moving from our last house, I still had to tile a bathroom. A chore for me. So, I hired someone and in days - with no effort from me - it was done. Money well spent. Put it on your calendar - Putting stuff on your calendar to do daily till done - and using those 15 minutes to get them done. Check out Productivity Hack – Tiger Time using Google Calendar
My Recent Example
Recently we needed to get our product to the publisher which required we do some editing of video content. We used the above process to get it done.
Finished meant product complete on disk, and in the mail. The publisher set the deadline for the first week in January. (Sooner than we expected of course.) We set up daily actions for what needed to be done, and when to meet the deadline. Wow, we had a lot of work to do! Multiple people worked on it to get it done. We worked to our skillset. Without the team effort - we would have never made it. We put on our calendar the plan and the daily actions to meet the deadline. Then we worked to get ahead of schedule! We shipped before they asked - which is always a win!
But, I have used this approach a number of times to get things done. Here are some times:
Finishing my Ph.D. Dissertation > 3 months from start to finish. Building a new product that our customers demanded > 1 month to market Completing content to meet our publishing contract deadline > 2 weeks Finishing a basement (good enough) for a weekly event at the house with kids > 2 months Building a fence when we moved > 2 days
What about you?
When have you used a similar process to get it done? Anything I am missing?
Links mentioned in this episode: Productivity Hack – Tiger Time using Google Calendar
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
Subscribing is simple!
Go to iTunes. Click Open In iTunes Hit subscribe!
While there why not leave me a review! Stitcher If you are a Stitcher listener, I have not left you out! Just click Company of One on Stitcher!
Your personal economy is usually thought of as a combination of your finances, your time, and your career. In this episode of Company of One, you are going to do an assessment using a downloadable worksheet. This exercise will help you determine the current state and set some goals to improve your personal economy.
[Tweet "Do you know the state of your personal economy? #PersonalDevelopment #Download"]
To get started, download the Assessment of Your Personal Economy worksheet here.
Questions range from basic finance, to where your income comes from (income independence factor), and how you spend your time.
To help fill this out, you can also download a completed example of the assessment here.
In the podcast (audio) I cover how to fill out the form.
What You will Learn
In the assessment, you will find out or decide on the following:
Do you have enough income and income independence? Do you have enough of an emergency fund? What is your net worth (and how to calculate it)? How much should you have in net worth for your age and income? How to increase your income? What should you be working on in the next 90 days?
Links mentioned in this episode: Why you need to start your own business (the 25% rule)
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
Subscribing is simple!
Go to iTunes. Click Open In iTunes Hit subscribe!
While there why not leave me a review! Stitcher If you are a Stitcher listener, I have not left you out! Just click Company of One on Stitcher!
The other day I had four projects coming up. I sat there in indecision not knowing what to work on. Which one to do first? What was the next step? It felt like 5 minutes that I just stared at all things in front of me. I was suffering from overwhelm.
As I tried to figure out what to do, I realized each project had its own challenges. Each one of them seemed to have an unknown set of things that I needed to do.
I took some quick actions using a tool I have used many times before - and found my way out. Today, I will share this fix with you.
[Tweet "Being overwhelmed is about emotions - not time. #overwhelmed "]
The 15 Minute Fix for Overwhelm
As I have been focusing on 15-minute fixes in the last few weeks, I have found it odd how many times 15-minute activities have really become part of my own breakthroughs.
As I sat overwhelmed, I remembered the 15-minute trick a friend had taught me long before.
Step 1 - Recognize it is emotional
Overwhelm is an emotional state. It is not brought on by external things, but how you feel about those issues. This is why at times we can be overwhelmed by few things and at other times we seem to be able to handle a ton of stuff. Recognize that your emotions are in control.
Also note that when we are overwhelmed by a project, this is often a sign that we are unclear what the next steps should be. The overwhelm emotion is also a lack of clarity.
Step 2 - Take inventory of what is overwhelming you
To put your emotions in check, get objective. When you're feeling overwhelmed the best thing to do is to write down the things that you need to do. While it might seem like this will create more overwhelm, it actually lets you look objectively at what has to be done. Put it in writing. For me, it was four things now on paper.
Step 3 - Put them in order of priority
Now that you have a list, try to prioritize. Usually, the priority has a lot to do with deadlines but, given the method we are about to use, the order is not that critical.
Step 4 - Set your Timer for 15 minutes and start on #1
Yes, I said 15 minutes. Does that seem insignificant? Again, this is about emotions, so trust me here.
When I did this the other day, I just plowed in. I was not sure what to do first so I just started. I figured in 15 minutes I did not have time to plan and if I did take the wrong path - so what. It was just 15 minutes.
I opened a Google Doc and started. I started outlining steps of what had to be done in a course that was coming up. I listed out what I wanted to cover, desired outcomes, and the steps I needed to take. Realizing some things came later and were bigger tasks, I opened my calendar and set some time to work on this using my Google Calendar hack.
I was shocked at the amount of material that I had covered in just 15 minutes. Suddenly I felt not so overwhelmed about that project - mostly because I knew what needed to be done and had a plan to do it.
When the timer went off, I quickly made a note of what of the next two or three actions I needed to take in my calendar entry.
Now take a quick break for coffee.
Repeat on the next project
Once again I set my iPhone timer to 15 minutes and plowed in.
Cleanup
Within about 90 minutes I had pulled myself out of overwhelm and done an amazing amount of work. I then took a few minutes to reevaluate my plan and then moved on with the day.
Observations after doing this process myself
While working my 15-minute fix, some of the next actions involved me handing off the project to other people for review and to gather data. My work was a bit messy, but nonetheless, it was what the team needed to take the next step. Now, those projects were in the hands of other people who could do their part.
But I took action (and the effectiveness of other team members) these projects were completed within the week. I had to laugh that earlier in the week these four items had me frozen in a state of ove...
Have a stack of "to be read" books and magazines lying around? (My son, Daniel, labels his "to be read" TBR.) Want to get those reports at work read faster? A few years ago I got into reading faster. I will not call it speed reading because that conjures up images of those weird speed reading exercises when I was in grade school and I start to hyperventilate. (Have I mentioned - I HATED school?) My method has been more of a speed skim, but it worked for me. Yet, the other day I came across a speed reading course online and bought it. I have found it easy to do and very useful - so I wanted to share at least some of what I have learned.
[Tweet "You can easily read 1 book a week in 2018 with a speed process. Challenge? #52in18"]
The course ...Speed Reading Foundation Course by Iris. Yes - I am an affiliate, but for a few bucks I found it to be awesome. (It is on sale for $99).
The course covers all kinds of strategies for reading non-fiction, magazines, newspapers, email, blogs, and even fiction - which is one I had not seen before.
I have spent between 15 to 30 minutes a day in this course for about a week or so, and I can only say that I wish I had bought it sooner.
While the course might really increase my speed (yes I really think it will - and likely already has), the real magic is in the process.
So here I wanted to share with you the key ideas behind increasing your speed (and comprehension) and how to deal with non-fiction books.
Grab a book from the top of your stack and join me!
Main Principles to Increase Reading Speed 1. Use finger or pencil as a guide and move 3 words at a time.
Our eyes tend to follow motion, so our hand or a pen moving along will draw our eyes forward. I do see why this method works because I find it is easier to get into a rhythm with my hand than without.
Then note that you can actually see groups of words instead of one word. If you do not buy this, think about road signs. We glance and know what they say. Perhaps this is a little about context - but the next process I will show you will help to put all reading into context.
For your typical non-fiction book, this will mean about 3 "hops" per line. This might seem awkward at first - but if you practice this about 15 minutes per day it will become natural. Really - it does work!!!
- Stop regressing
Much of the time you spend reading is going back to something you think you missed. This is called regressing.
So instead, move on. Again, this takes practice to develop trust.. Much of our going back is a waste since we will pick up the context later.
We have to remember that in almost all reading it is not each word we need to get, but the scope and context.
One reason for this is that most written words are wasted and could have been cut out in the first place without a loss in meaning.
- Stop saying the words in your head
If you say or lip read every word - you will never get faster. Your mind moves faster than your lips, so shut your mouth and try it.
But even then, you will "think" every word, which is called subvocalizing, it will slow you down. I still have not broken that habit - but I can see this is a key to speed.
- Practice
The Speed Reading Foundation Course by Iris suggests spending 15 minutes a day practicing. Not bad - certainly fits into my 15-minute rule.
But to make it even easier, they have a really handy tool called accelareader which allows you to control the timing of words on the screen.
The typical person reads 150-250 words per minute (wpm). First start and test where you feel comfortable - and that is your reading speed. (yes - it does vary ).
So in your 15 minutes per day, try increasing the speed. I read about 300 wpm, therefore I am practicing at 400 wpm.
It will seem awkward at first but stick with it. This is not so much about comprehension at this point - but learning to see the words. Once you can do that,
Decisions. We have to make them over 1000 times per day as we decide what to do next. Too often we are consumed by meetings, email, and other items so we forget what is key. Last week I talked through my email management method I use to get to inbox zero - so this week I want to share how I use my TIGER TIME with Google Calendar.
[Tweet "Work in the mornings: afternoons = brain mush = nothing gets done #TigerTime"]
Tiger Time
Amy Porterfield calls her mornings Tiger Time where she focuses on the most important work and she protects that time like a tiger. I have been doing something similar for years, but when I heard her use "tiger time" it just resonated with me - so I went with it. (Also I am not creative enough to make us a cool sounding name;)
For me, it is not that I intensely protect it as much as it is me having the aggressiveness and fierceness of a tiger during that time to get stuff done before my brain turns to mush in the afternoon.
For me
afternoons = brain mush = nothing gets done
This makes it a great time for meetings and mundane activities.
Defining the What: What is the key thing you do that adds the most value?
Knowing what is crucial to keeping the money flowing is really a key thing - no matter who you work for. Amy realized content creation for her courses, podcasts, and webinars are the most important thing she does.
So I decided to figure out what made the money flow to me. I have 3 main areas.
investments - managing real estate, stock, and funds content creation - for classes and blogs and courses team growth - both my internal teams and other people I work with
What about you - what are the key areas that generate you the most money? Even answering this question will generate immense focus.
Put another way
If everything else is not getting done - what has to be done? What adds the most value to you and your family long term?
But - knowing "what" is only part of the problem. Now we have to actually make it happen - and that is where the problem comes.
The When: Locking Down a Time to Focus
My Tiger Time (like Amy's) is in the first hours of the day. For us, and most of you, it is the time when our minds are fresh and we can get real work done.
When I looked at my top 3 areas, I realized that I needed about one day a week for the investments. The team stuff was more about meetings and relationships - so I can do that later in the day since it requires a different kind of focus.
But, content creation is hard for me. I use content for my courses and my blog - and often it is the same content.
The How: My Process
- Make an appointment with you. Create a block of time that is your most productive. (See How to Finally Get Things Done) For me, I had to start moving things around to make this happen - but it was worth it. I went to Google Calendar and set a time from 8-11 AM for Tiger Time - every day.
[Tweet "Schedule a block of time that is your most productive to do what matters most. #TigerTime"]
-
Set that time as BUSY. Since other tools interact with my calendar (and other people can see it) I set it so Google shows me as Busy during that time.
-
Create your Next Actions Write down what you need to do during that time in the DESCRIPTION in google calendar. My description is a mix of to-do items and methods-and-procedures (MOP).
-
Attach Google Docs. This is one reason I like Google Calendar, I can attach a Google Document with my content ideas to my calendar.
-
Do the Work. When the hour comes, I open the calendar and do the work. I just follow the next actions and steps I have defined in the DESCRIPTION field.
-
Update the process. At the end of my Tiger Time. I may update the Description with new information or action items - since things always change. I update all following events so when I come back the next time, I can see my notes.
7. Close it and walk away
I want to share something that has really changed the game for me - that is operating from INBOX ZERO. Specifically, I am going to be talking about how to get to inbox zero with gmail, but most of the same principles apply to other email systems such as Outlook, Apple Mail, etc.
Gmail - Filters and Tabs
One of the reasons I converted to Gmail was their excellent spam filter. My life was consumed by SPAM before Gmail. Now, not only does my Spam go to the right place - but training your Gmail takes very little effort. Simply marking items spam, or not spam, helps move me in the right direction.
Most mail systems have some filtering or rules you can set - so I will not harp on these here. The fact it - most filters and rules do not help you process your email - but instead only help you put it in the right stack.
The key to Inbox Zero is not in filtering your email, but it is about having a process for your email.
[Tweet "The key to inbox zero is not filters, it is the process. #InboxZero"]
Key Principles for Inbox Zero with Gmail
Much of what I learned came from a friend who teaches the Productivity Ninja concepts.
Key Take Aways about Being a Productivity Ninja with Email
Your inbox is not your to-do list. A busy inbox muddles your mind. Think about your inbox like your snail mail - do you just look at it and put what you do not pull out back in the box? No - you process it into trash, bills, invitations, to be read, etc. The key is to process your mail - not read it Email is a computer. No need to have tons of folders since we can search. Make the computer do the work.
My Daily Email Routines
Reduce the mail folders. I had many folders and subfolders. I pretty much reorganized to these @action @explore (read later) @WF (waiting for) @home (for non-work stuff) @work (work stuff) Check it in the morning quickly. For me, this is a quick scan of the inbox and the spam to make sure nothing shows up. Clean it out daily. For me, I do once in the afternoon. This includes SPAM.
My Process for Getting to Inbox Zero in the Afternoon
Go to first email. I start in the primary tab of Gmail since that is likely the most important material. What action do I need to take?
Do I need it? If no, > delete now. Keep it? What do I need to do with it? 1. Waiting for a response on this > Move to the @WF folder 2. Reference and might want later (many CCed emails fit this) > Archive it (google email) 3. Need to take action
If the action will take over 2 minutes > @action or schedule an action on my calendar then archive If I can do in 2 minutes - do it now
Do the next email
What about those Waiting For and Actions?
Once things are moved over, I work from the actions list. This is where the important stuff lives.
Then weekly (Friday) I will go through all the @WF and the @Actions folders to check status.
If something I am waiting for has not arrived, I might then make a follow-up call or email.
If an action is not getting done, I will reevaluate its importance and may either schedule it, delete it, or delegate it.
What about you?
Do you have an inbox that is under control or is it controlling you? What have you found that works?
Links mentioned in this episode: Book - How to be a Productivity Ninja
Book - Getting Things Done: The Art of Stress-Free Productivity
Course - Building Your Own Business
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One thing we all have in common is that we all want to learn how to finally get things done. No matter position, title, or role - we never have enough time to really get the big items done. I can claim no particular expertise or success here. I struggle just like you. But, I have found some things that work for me. Here is my method on how to finally get things done.
How to Finally Get Things Done (well what works for me) [Tweet "Get things done - make sure you set appointments for what you want to happen. #Productivity"]
Step 1 - Have Solid Goals
I do not always use the SMART goals (Specific, Measurable, Achievable, Relevant, Time Bound) - yet I do make sure my goals are mine and make sense to me.
I use 3-month goals
I break down into my areas of focus. Mine are
Faith Self Family Work - University Work - Company Home Investments Fun
Each area will have 3 goals for the term.
Step 2 - Plan Your Week Before it Starts
Do at the end of the last week. I do my weekly planning on Friday.
Make sure you look at your list of goals before you plan your week.
Focus on the next actions - those specific actions you will take to move you closer to the bigger goal.
Step 3 - Decide Which Tasks Require Mental Focus
Some activities will require a lot of mental focus and others can be done while you are less sharp.
For me, meetings are rarely in need of my total mental sharpness. (perhaps this is a bad choice - but yet the one I have made)
Knowing which are which helps you decide the time of the day these tasks are done.
Step 4 - Know your Daily Rhythm
Most of us are morning people - we work best and with the most focus in the morning.
Others might be night owls.
Decide which you are and use it. But be realistic.
Step 5 - Schedule Your Tasks
Add your tasks to the calendar.
These will be an appointment you make with yourself.
Remember to put the tasks in the right spot depending on the mental focus needed.
Step 6 - Execute Your Week!!!!
Get your worksheet and get started - hour-by-hour-scheduling-to-get-things-done
Links mentioned in this episode: Make Your Goals Really Happen
Building Your Own Business
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Recently I was encouraging a client to get busy moving her product. After about 20 minutes she told me she just needed to learn how to overcome the fear of selling. Bingo - that was the issue. The fear was pushing her to do all kinds of work on the business - none of them making money or serving customers. Until that point, she had sounded 120% confident in her product and her plan and I thought she was going gangbusters. Yet, at this moment of honesty, she told me she had yet to sell anything and was actually afraid of selling.
Overcome the Fear of Selling for Good [Tweet "Overcome the fear of selling by focusing on serving #FearofSelling"]
Some "quick" fixes to overcome the fear of selling and the resulting resistance to your business growth. Believe Be honest - do you think what you are selling will help people? Most people trying to overcome the fear of selling will admit they just do not believe what they are selling with help their clients. This is critical. If you work for a company and you do not believe in their products - time to move. If they are your own products and services, you need to understand how they impact your customers. To do this, interview past customers. How did your product or service help them? If you have not sold anything yet, ask people who you have helped for free or who have bought from other service providers how the products and services helped them. Whatever you do, do not trust your internal marketing machine - you have to do it. (This is especially true if you are selling network marketing kind of products where the hype is huge.) Become aware of what makes a customer Everyone is NOT your customer - even if they need it. For instance, driving around in a beat-up car does NOT make them a customer for your body shop. Fat people are not automatically a customer for your gym. In fact, often your customer will look like they do NOT need your product. Fitness centers do a bang up job selling to people who are already fit.
Your job is to get some understanding who it is that loves to buy products like yours. Prequalify them - Do they want and need what you are selling When a customer self-identifies as someone who wants your products, you have a winner. Lead generation can really help in this area. Websites use lead generation through lead magnets - those forms where you enter your email to get a freebie of some sort. No matter if you are a storefront or a web based business - lead magnets can prove to be very powerful. For instance, if they download a brochure “5 ways to get fit in less than 15 minutes per day" they might be a customer interested in fitness on a time budget.
Other things you can do is find ways to get them to tell you what they need. We use this in marketing our graduate program in engineering management. Instead of us selling, we ask questions. Tell them how you can help them Anytime someone spends money, they are investing in the solution. So, what solution do you provide for them. Tell them how you can solve their problem. It is up to them to decide if they want that problem solved. Offer 3 options is a great way to let them chose A very powerful strategy for selling is to have your products in packages. Think of the Bronze, Silver and Gold plans. Let them pick which features they want. These plans often have the effect of increasing the value of the sale. If They cannot buy from you - have something ELSE to offer Customers who do not buy from you might not buy because of price, timing, or they are just not a fit. If it is price or timing, can you offer them something for free? Think about having lower priced products, a freebie tutorial that will help them do themselves, or even a referral to a competitor. Thank them but Never apologize for the price No matter if they buy or not, thank them for their business and allowing you to serve them. Even if they walk away with nothing - you have likely helped them make better decisions.
Do you have an entrepreneurial mindset? No, it does not matter if you work for a large company or own your own company. An entrepreneurial mindset will help you enjoy your work, be more successful on the job, and make more money. Does that sound like things you would like? Here I will share some very simple ideas that will help you begin to change the game and teach you to move from an employee to an owner.
[Tweet "The difference between an employee and an entrepreneur is ownership. #ThinkLikeAnEntrepreneur"]
Ownership. That is the main difference between an employee and an entrepreneur.
We are all entrepreneurs - earning a living in exchange for the services we provide. So whoever pays you, you are an entrepreneur - you own your career and you own your Company of One.
In fact, acting like an employee is a bit like acting as a slave, you just do as they say with little thought of your own.
Almost every company wants their employees or team members to think like an entrepreneur - having that entrepreneur mindset. They want you to OWN your job. 15 Minute Fixes to Develop an Entrepreneurial Mindset
Before you leave for work Remind yourself daily that you own your own company. Tell yourself “I am thankful for the opportunities I have been given to serve others with my skills. I am the owner of my own company and everything in my company is my responsibility. I am the owner.” This is similar to Zig Ziglar’s self-talk scripts. Think about how are you perceived. Look in the mirror. You are your own marketing machine. Be clear who you serve. Your customers are those who either pay you or impact your pay. Create a vision. Develop a short and long-term vision of where you want to be - but start with the long term. No, you do not need to sit under a tree and meditate for days to do this - but do it. Get a vision of what you want from your work and your life - and no - they are not two different things! Understand that work is who you are. I know a popular idea is "I am not my work". Bull. Your work is an expression of who you are - so if you cannot stand it and are hiding from it defining you - you are hiding from yourself. Understand how to serve your customers. Some want to move slow and have an “as it has always been done mentality”. Does that fit with your vision of you? Stop talking about work-life balance. Work life balance is a lie. The idea I hear is we should be able to turn it off and shut it down totally. Turn off the lights and forget it. That is true for an employee - but not an owner. Sure, you can have fun, forget it at times, but you are likely always thinking about it and getting clues how to improve it. It might be at a ballgame, at the Opera or even dinner with the family. Let the family in. Since it is part of you, bring your family into your inner circle. They are part of your company of one.
Links mentioned in this episode: Building Your Own Business
Company of One Podcast
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So you have a business and it is making money. But you are asking "How Much Should I Pay Myself?" And related are the questions of a) how much you should invest back into the business and b) how much you should save for taxes. While every business is a little different, I will share some basic principles that are easy to manage and do and will keep you motivated to keep going.
[Tweet "Business owners should take 50% of the revenue #Payday #smallbusiness @MikeMichalowicz"]
In Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine Mike Michalowicz provides a basic plan for handling the money your business makes - including a formula that answers that question "How much should I pay myself?".
Two VERY common problems we see in small business finances:
The business owner pockets all of the income and then does not have money for taxes at the end of the year. The business owner uses all of the money to grow the business and never sees any of the rewards.
[Tweet "Failing to save for taxes means failing in your business #PaytheTaxMan #smallbusiness @MikeMichalowicz"]
Or even worse- combine 1 and 2 and you get a business that grows and spends and is not ready to pay taxes or the owner.
Rethinking the profit sheet
Typical business thinking > Sales - Expenses = Profit Mike Profit First thinking > Sales - Profit = Expenses
[Tweet "A new way to do business accounting ...Sales - Profit = Expenses #Accounting #smallbusiness @MikeMichalowicz"]
The simple idea - control your expenses to manage the profit you desire!
I like this idea because business owners often take nothing out of their business and eventually burn out.
What to do with the money
How much should I pay myself? (Called owners pay) How much do I set back for taxes? How much do I set aside to grow? (Called profit)
For a business with less than $250,000 of revenue
5% of the revenue for profit to reinvest in the business 50% for owners pay! 15% for taxes
Therefore, only 30% of the revenue should be part of your business operating expenses.
Your job, as owner, is to control the operating expenses to make this work.
Over $250k of Revenue
As you grow over $250k your numbers will change, but the general principles still apply. Owner always gets paid something and taxes are covered.
Generally I agree with this formula - a great start. Monthly go through the numbers and do this. To help - download Mike's Instant Assessment worksheet
What I do with the my revenue
Our main adjustment is that we hold back 25% for taxes - which might be overkill in most years - but it helps balance out things in our overall tax bill since we have multiple businesses and other sources of income.
For you, I would recommend you implement Mike’s plan monthly and see how it works - then adjust as needed. You will find just having a simple plan and looking at it monthly will keep you out of trouble with the IRS and make you smile when you get paid.
One other thing...
NEVER HIRE FULL TIME EMPLOYEES until you hit $250k revenue
Links mentioned in this episode: Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine
Profit first Worksheet - This is all you really need.
The Total Money Makeover
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If you are leading people for the first time you are likely a bit intimidated - and maybe a little excited. Leadership has this mysterious nature to it. Yet, when we step back we realize leadership is really about helping people help you to reach a goal. You are now part of a team and they need you to point the direction. How do you do that? I will share some basic leadership principles, as well as, some specific actions to improve your leadership.
[Tweet "First time leaders remember - communication is huge in leading others. #leadership #newboss"] Key Leadership Principles Leadership is a moving target. If you are leading people for the first time or have been leading for years, the principles are all the same.
Attitude
Be positive, optimistic, and realistic. Attitude is very contagious.
Service
You are now serving both your leader and those you lead
Communication
You must be clear about what you want and willing to listen.
Team
Drop the "I" word excepting when taking blame or responsibility. This is not about you - it is about we.
Relationships
People follow you because you care about them and help them grow.
Setting clear boundaries and expectations
If you do not tell me what you expect, how do I know when I win? Be clear. Otherwise you will frustrate your team.
Casting and sharing a vision
We all want to be part of something that is going somewhere. Help me see where we are going and what we are working for.
Rinse and Repeat
Learn to repeat yourself often. Repeat your vision, your expectation, and your praise.
15 Minute Fixes for Leaders These are all actions YOU can take in about 15 minutes that will have a dramatic impact on your leadership - especially when leading people for the first time.
Define customer expectations - Find out from your boss what his/her vision is for your team. Nothing deep - but how do they see a win. I prefer to do this in a quick conversation so I get their top of mind issues. Repeat it back - Take what your boss told you and put in very succinctly into an email. Just say "This is what I heard you say, just making sure I got it right." Wait for confirmation or clarification. Share with the team - Email your team and tell them what the boss thinks. Use your boss's exact words. Ask them for feedback - how can each of them contribute to the objective of your boss? Wait for their feedback. This might take you spending a little more time chatting with them to process it - but stay at it until you get some feedback from each person. . Now in this process you have two key things: - What matters to your boss in his or her own words. - How your team translates those words.It is critical that you understand the words used by each side. You are the translator from the strategic view of your boss to the tactical view of your team. Now craft a quick vision statement for your team using the words they have provided. Again - use their words! Email it to them. (Yes, this is a 15 minute activity.) Set normal team meetings (daily or weekly) and keep it SHORT. Send out an email announcing and then put it on your calendar. Run the 15 minute meetings like this. Each person shares a) What are they working on and b) Where are they stuck. (Standing meetings are often helpful to hold the time down) Write down what you expect from each person in email - keep it! (15 minutes per person) Meet with them one-on-one and ask about their goals and how you can help them. (Might take more than 15 minutes per person - but well worth it) Rinse and repeat quarterly or semi-annually.
While these actions are not everything you will have to do, they will put you way in front of what most leaders do to serve their people. Links mentioned in this episode:
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
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Mastermind groups have become wildly popular with business leaders and entrepreneurs. Yet, many mastermind groups are facing leadership challenges and as a result these groups are less functional - if not a complete waste of time. For the past 5-6 years I have been coaching mastermind teams and have seen many of these challenges played out in front of me. Some have been fixable - others not. So today I want to share some key ways to overcome leadership challenges in mastermind groups.
[Tweet "Leadership hinges on good communication #leadership #mastermindgroup"]
Common Leadership Challenges in Mastermind Groups Mastermind groups operating as coaching groups
Mastermind groups are not the same as a group coaching sessions - nor should they be. They are equal partners sharing.
Common signs you have a coaching group pretending to be a mastermind group:
The leader is always talking and has an answer for everything. You feel like the leader is offering the same advice to everyone - you all are in the same box and there are no new ideas shared. All voices are not heard.
Leadership vacuums
Even among equals we have to have leadership that works, otherwise it all falls apart. Signs of a leadership vacuum in your mastermind group:
No agenda or plans for the meetings Personal conflicts that are not dealt with quickly Lack of a designated co-leader
Burnout
Not only from members, but from the leaders. Common signs of mastermind group burnout are:
Members often fail to show up The leader cancelling meetings Suggestions such as "let's take a week or two off and then reschedule sometimes later" when later is not defined Members saying things like "I feel the group is not serving me"
Lack of Real and Helpful Content
As a group, you should be helping each other and speaking into each other's businesses. Signs this is not happening are:
The meetings become a rehash of ideas in popular books instead of members speaking from experience. Lack of member's transparency. Members showing up bragging and never have real questions or doubts. Membership treating the group as a way of growing customers. No accountability or challenges to the other members
15 Minute Fixes to Mastermind Challenges If you are not in a mastermind group
Schedule about 15 minutes per day to get into one Define what you would like and who you would like to see in your group. Be reasonable. Reach out to the main person and set a time to talk about it. Set ground rules and put in writing. Define the leader and co-leader Re-evaluate progress quarterly or semi-annually and adjust (on calendar)
If you are in a mastermind group but not the leader
Rethink your needs. Put in writing what you want from the group. Is this the right group? Discuss with leader(s) and ask where the group is going. Be open with your challenges and needs Commit or Quit
If you the a leader
Send out a group message asking for individual and honest feedback about the group Based on that feedback- take it to the group for a group discussion about where they would like to go Establish or revisit ground rules Establish or evaluate co-leader Set periodic review of the group - quarterly or semi-annually
Join and listen to how to overcome leadership challenges in your mastermind group.
Links mentioned in this episode:
How to Create and Run a Mastermind Group
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
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Need a business license? One of the first places we stop when getting started is the business license. But, what kind of licenses do you need? Where do you go to get them? Today I will deal with these and other related questions to help you get your business out of bureaucracy mode.
[Tweet "Having a license does not make you a business ... revenue does #entrepreneur #businesslicense"]
Business licenses are a tax and not directly related to your legal structure (sole proprietorship, C-corp, S-corp, LLC, etc).
Note - This is not legal advice, but common sense views from those who have been in the trenches. General Rules of thumb about Business Licenses
Solopreneurs rarely need them Creatives rarely need them Home based businesses rarely need them Often when you first start you can get away without them.
When DO you need a business license before you start?
If you fall into one of the following, you need to check out licenses before you get started.
Regulated services such as a day care, plumber, lawyer, doctor, food services, etc. These are often regulated by a state board or agency. Storefronts that will have traffic such as stores, offices with lots of visitors, repair shops, etc.
Other Licenses and Taxes that Might Impact You
Additional city, county, and state requirements Trade licenses - plumbers, electricians, etc. They vary by location. Home Based Business Licenses (Yes some governments tax you for this) Sales Tax Health and Safety Sign permits Construction permits Home Owners Associations (HOA) - not technically a license or tax
The Painless Business License Process First, find out what you need. YOU can do this the hard way or the easy way.
Hard way - Start with the Small Business Administration (SBA) and then contact your various government agencies. Check out this chart for contacts you can make to get you started. Make the calls and ask the questions.
Easier Way - Contact your attorney or CPA (if you have one) and they will often do it for you - for a fee of course.
Easiest Way - Legal Zoom offers a one stop service that gives you the forms you need. Just buy their package and fill out the forms and pay the fees and you should be good to go.
Then buy them.
If you need anything that is highly regulated - such as trade permits etc, then get them now.
If you just need a standard business license, then wait until you have done about $1000 worth of business first. That way you will actually know what business you are in, and you will also have a sense of whether or not you want to change it. Links mentioned in this episode: Do I need a business license to sell online?
Do I need a business license or LLC?
Legal Zoom Business License Compliance Package - Pay one fee and get what you need.
Small Business Administration (SBA) - State Licenses and Permits
The Building Your Own Business Course - Takes some work on your part, but worth it. Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
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We all have time to start a side business. I know that because I see the busiest people start new businesses daily. Sure, they may not all grow as fast as a company with a full-time staff, but they do grow and prosper. Carving out time from a busy home and work life to get a company going is about using our time wisely and staying focused on the next action. In this episode, I will share some of the common hacks that allowed busy people to start and succeed.
Yes, You Can Find Time to Start a Side Business [Tweet "Finding time to start a side business starts with taking control of your time. #entrepreneur"]
Today I go over some basic steps to help you find time to start a side business. These steps will take you about 2 weeks to do, but well worth it. In the end, you will have a lot of clarity and focus.
Step 1 - Get control of your day job
Most of us waste a lot of time at work. Working 50+ hours per week, we are rarely productive for more than 20 of those hours.
Recently, I had a highly productive manager tell me he only has about 2 hours a day of true productive time, and this includes his time engaging his team.
I cover two specific actions that will open up your eyes to help you get clarity on what matters most at work and to help you find wasted time at work.
Oh, you don't think you waste time at work? Listen and try the exercise.
Step 2 - Get control of the home schedule
Getting control of home is even more challenging than work. You likely come home to many demands of your time and attention. I discuss some practical tips that have been used by many entrepreneurs (and me) to get control and find moments to get work done.
Step 3 - Find your moments to work
How many hours per day do you have to work on your business? Typically, I have been told 15 - 60 minutes from those with families. If you can increase that, great. But even if you can't, how can you find some other moments you did not know you had.
A great example of this is Joseph Michael, the Scrivener Coach who used his lunch hour to create a new line of revenue.
Step 4 - Define your business goals
One of the biggest time challenges entrepreneurs have is a lack of clarity. They have no clear plan. If you have a plan and can focus on the next action, success is in your reach.
[Tweet "If you have a plan and can focus on the next action, success is in your reach.. #entrepreneur"]
An eye-opening moment for me was when I came across Zig Ziglar while trying to complete my Ph.D. By setting goals and developing the next actions, I went from moving like a sloth to moving like a cheetah.
Step 5 - Get to work DAILY
In Do the Work, Steven Pressfield puts a name on the ominous force which keeps us from doing what we need to do. He calls it THE RESISTANCE. Once you have moments to work and a clear set of actions to take, you still have to show up and do the work.
In this last step, I will share some actions that many entrepreneurs take to get the work done.
Listen and find time to start your side business. Links mentioned in this episode: Seven Steps to Get More Done in Less Time - Episode 9
Make Your Goals Actually Happen - Episode 40
Zig Ziglar on Setting Goals
Do the Work by Steven Pressfield
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Do you feel guilty about making money? Most people starting or growing a business struggle with this feeling of guilt. This guilt feeling comes from wanting to help others in need mixed with a lack of confidence. The result is that volunteer our time with a ministry mindset. After all - we want to help people.
But this feeling of guilt about making money not only keeps us from developing a business, it also keeps us from serving others to our full potential.
How to Stop Feeling Guilty About Making Money [Tweet "When people pay you , they are saying thank you with dollars. #entrepreneur #startup"]
Today we will deal with that guilt
When You Encounter the Guilt
Doing your own R&D Buying encounters
The Guilt Messages
Expectations Game Zero Sum Game Thinking
How to Replace the Guilt and Serve
Question to think about What have you gotten for free that you value? Join and listen how to NOT Feel Guilty About Making Money. Links mentioned in this episode: Thou Shall Prosper: Ten Commandments for Making Money
From the 5 part Series on the obstacles of starting your own business:
Ep 110 - How to Overcome the Four Obstacles Keeping You from Starting Your Own Business Ep 111 - How Much Money Do You Need to Start a Business? Ep 112 - Five Tricks to Help You Find Ideas to Start Your Own Business
Related Podcasts
Ep 98 - Should I charge for my services EP 32 - Why you need to start your own business now
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Want to find ideas to start your own business? Like me, most of you struggle with how to find ideas to start your own business. Finding ideas sounds so simple. After all, we have tons of business ideas - that is until it becomes real and we start to act. It is when we are ready to start that indecision and a lack of clarity begins to haunt us. We are often left frustrated thinking we have no real ideas. But, there is hope. Let's start by looking at the problem in another way. Instead of looking for a business idea, consider you are a business that is in the Research and Development phase. So now, as chief of Research and Development (R&D), finding the idea IS doing your job. Five Tricks to Help You Find Ideas to Start Your Own Business (Your R&D) [Tweet "Become your own chief of R&D to find ideas for your own business. #entrepreneur"]
Keep a Small Notebook with You. I use a Moleskine, but some use Simple Note or Evernote. Change your environment weekly (daily if you can)
Get out of the Corporate Lobotomy mode - Get around others who are thinking ideas - mastermind groups, a community of entrepreneurs, etc. Use your eyes and ears - not your brain Not just going to Starbucks and thinking - but that can help.
Expand Your Input
Reading -
Go to Bookstore and find business magazines and scan them. Entrepreneur, Forbes, etc magazine, blogs, etc. Use Feedly and create a reading list of content to inspire you. Do not feel guilty if you find you are also adding blogs about your hobby (home decor etc) but instead use them as research
People
Talk to more people - what challenges are they facing ( check out my post on reverse interviews - this really opens up the door to problems to solve) Serial Entrepreneurs Search
Watch What You Normally Ignore -
Every time information comes to you via a podcast, blog, magazine, ad, etc - ask
What are they selling? How are they making money? Who is behind it?
Keep a list of all these things daily and review them during your R&D time.
Use Frustrations as a Key
Keep notes during the day/week of things that frustrate you and others. What is “broken” at work? What problems do you solve over and over in non-perfect ways? Weight loss and healthcare stuff have no caring people to help. Even simple things. Who solves those problems simple problems? Think about Zappos Shoes, Uber, AirBNB, or Shipt.
You are not looking for genius ideas, just solve a problem. Look for problems right in front of you
Join and listen to find ideas to start your own business. Links mentioned in this episode:
Building Your Own Business Notebooks
Evernote Moleskin Journals Simple Note App The Pocket Notebooks of 20 Famous Men Olympus Digital Voice Recorder
Feedly - New Aggregator How to Read a Book in 30 Minutes or Less Validating Your Business Idea How to Do an Opportunity Analysis Reverse Interview Questions | There Are Only Three
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How Much Money Do You Need to Start a Business? The typical thinking is that $100,000 is needed to start a business. But in reality, the typical startup spends significantly less. In this episode we will explore ideas to get your business started with little or no investment.
Money Plan to Start a Business [Tweet "It costs less than $10k to start a business. #entrepreneur #startupcost"]
No one ever really asks "How Much Money Do You Need to Start a Business?" - instead they just assume that is it some figure such as $100,000.
Define why you need money Equipment and tools Pay yourself and your team Marketing How to do it on the cheap - Equipment Rent or borrow Use what you have already and add as needed Team Building Hire on a project by project basis Do not quit your day job yet Manage the cash flow Marketing Be OK with growing slow Engage current or previous customers for referrals Use sweat equity Avoid the two lies of business startups You have to invest in things to grow Debt is normal Listen to the advice of others - but use your brain
Join and listen to find tricks to start your own business for less. Links mentioned in this episode:
Being Lean in Your Business Upwork - Freelancers EntreLeadership Building Your Own Business
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There are four obstacles keeping you from starting your own business. In all my coaching of business startups, these four continue to show up keeping would be business owners from starting their own business. Today I will examine the fours issues - and in the next few weeks I will provide you with the common steps I have seen work for others - as well as for me - to get past these obstacles.
[Tweet "Winning is finding the obstacles in your way and then how to overcome them. #entrepreneur #obstacles"]
While other issues are often talked about - fear of the unknown, insecurity, financial situation, and family conflicts - I find the ones that show their ugly head are really about how we think about business.
Thee Four Posts To Help with the Details
I do not have enough money to start I have no idea about what to do I cannot charge for that I do not have any time
In this podcast we address these subjects and attempt to debunk them. But, in the next few weeks I will give you practical plans to literally kill these obstacles and get started in building your own business.
Join and listen to learn how to overcome the four obstacles keeping you from starting your own business. Links mentioned in this episode:
Thinking About Starting a Business? What You Need to Do Now How to Create Your First Information Product in 30 Days Why You Need to Start Your Own Business Now Building Your Own Business Zig Ziglar on Goal Setting
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Today I cover the four steps in starting a business. But, I am excited to be sharing these steps along with Debra Mastic - who took these steps to create her business and leave her day job in just a few months time.
This is so critical. So many times we listen to people tell us how to do things - but we doubt it will work for us. Debra doubted too, but she acted. She joined up for our business coaching and followed the steps even when she doubted. Today Debra has a thriving business called Virtual Resume Coach.
The Right Steps in Starting a Business (listen to the podcast for details about how Debra Mastic did these) 1. Discover Your Passion Before You Start a Business - No one wants to buy from someone who does not put their heart into what they do.
-
Define and Engage Your Ideal Customer
-
Create Products or Services for Your Business - Now that you have customers and have talked to them, listened, and used your experience, make an offer to SERVE them.
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Create a Business Structure and Processes - for most - the processes and details come once money starts to flow. Listen and learn how and why.
Join us and listen to the four steps and how they were applied to Debra Mastic's real business. Links mentioned in this episode: Virtual Resume Coach
Building Your Own Business Podcast Details: Click Here to Subscribe via RSS (non-iTunes feed)
Do you need another degree to start a new career? Most of the time we assume the answer is yes - of course. As a result, colleges are making a fortune from career changers. (Which is good for us!) But before you jump in and sign up for a new degree program or new training, you need to look closely to get the facts. Here, I will help you do just that!
Photo by Joshua Earle is licensed under CC BY 2.0 Click to Listen
Do I need another degree to change careers? Even as a university faculty, I rarely get people asking me this question. In fact, I find few people ask anything. They assume. They show up at a meeting asking all the wrong questions such as:
Would an MBA or Engineering Management be better to get a new job? Which degree will help me get promoted? What degrees are companies hiring more? Should I get a masters or another undergraduate degree? How do I get another degree faster? Which degree is best for getting into ....?
Many variations. It is AWESOME. Think about it - when they show up at the university they already assume they need our product. It is like people showing up at a car lot knowing they want to buy a car. Now we just have to let them pick. Either way, we make money.
But, like so often, we are asking all the wrong questions and have assumed too much. What question SHOULD you ask? Here is the better question: If I want to change careers, what steps do I need to take? Stop assuming. Stop being so quick to shell out time and money on another degree, certificate, or training package before you know what you really need.
Would you take medical advice (or drugs) from a doctor that did not first diagnose the problem?
But, the truth is we get all kinds of advice from well meaning people that push us down the college path.
[Tweet "If I want to change careers, what steps do I need to take?"] Common BAD advice If you ask a university, college, or faculty if you need a degree, the answer is almost always YES. Why? That is what they do. Do they know? Not often!
YES - I JUST SAID IT.
[Tweet "Faculty rarely know what is needed in the market place!"]
If you ask a friend or family member, they will often suggest going back to school.
If you ask a counselor, government career help agency (they have many names) or church career ministry, the answer is almost always - get another degree.
Why are we pointed to another degree? Because colleges and universities are excellent at marketing their services. Are you on Fire? Remember that saying we were taught about our clothes catching fire. We are to STOP, DROP, and ROLL.
But before you get on fire to go back to school (and spend tons of money!) you need to STOP, ASK, and LEARN
Stop! Take a deep breath and stop applying to school. Just stop. We will always be glad to take your money, and we will be here tomorrow if you decide. Right now back away from the application.
Ask. Find people who are doing what you want to be doing. Find people in that career. Ask. Not one. Not two. But at least 10. YES - I said 10. Go talk to them. Find out what a day in the life is like. Find out how hard it is to break into the field.
BE SURE TO ASK THOSE DOING THE JOB. Do not ask faculty, university admissions, or anyone but the people doing the job.
Learn. Perhaps I should say LISTEN and LEARN. Be ready to challenge your own assumptions.
How can you go about finding your path and doing what you love? Perhaps it is not by working harder, but instead you should do what you love even if you see no path to money. In 18 Minutes author Peter Bregman explains that we often find something new when we stop looking so hard. Think about it. Do you know someone who wanted to get married, but only found a spouse when they gave up? What about that guy looking for the perfect job who spent hours per day looking and only found the job when he relaxed? We often find the result we are looking for when we stop pushing for the what and enjoy the now. What am I saying? Stop trying so hard. Have fun. Do what you love even if you see no path to money. Today I will interview the person who found his path by just doing what he loved.
Something I love - My Reading List Click to Listen
Finding your path and doing what you love I met Jeff Brown at a conference. He is a fellow podcaster who does Read to Lead. In this interview you will hear his story of getting fired, doing something for fun, and finding a career in his joy. Yes, he is the example of someone who demonstrates "finding your path and doing what you love." You may be a reader more than a listener, but today I think you need to listen as well as read.
Jeff will share with us...
His path from career to entrepreneurship Why you should start something just for FUN Why you should always be looking for ways to serve others And of course, why you should Read to Lead. Jeff quit reading after college (Gee -anyone who is reading textbooks is bound to be turned off from reading!) but started again when he picked up a book by Seth Godin.
[Tweet "Happiness: Finding your path and doing what you love."] What am I Reading Jeff's guiding principle is "Leaders are Readers." I have found this to be VERY true. When I meet people or speak to groups, I often ask what they are reading. The entrepreneurs and executives always have a massive reading list and push me to Amazon to make some quick buys of the books they recommend. They also jump on the books I mention that they have not read.
[Tweet "Leaders are Readers"]
However, those who are not the leaders (just doing a job and getting by) often tell me they do not read. "I quit reading after college."
Here are the books I am reading now:
Bold: How to Go Big, Create Wealth and Impact the World - Anyone in the world of technology REALLY needs to read this. 18 Minutes: Find Your Focus, Master Distraction, and Get the Right Things Done - Clarity - what else can I say. Tactics: A Game Plan for Discussing Your Christian Convictions - While I started reading this about issues of faith, it is really helpful in seeing how to discuss topics with people who just like to argue without reason. The Entrepreneur's Trap: How to Stop Working Too Much, Take Back Your Time and Enjoy Life - Great for even the NON-Entrepreneur
How to Become a Reader If you are not a reader and want to start, here are some simple steps.
Check out my reading list for the new Entrepreneur (If you are not an entrepreneur, forget the title. The books still apply and I can tell you later why I think you are an entrepreneur.) Remember, audible counts. You can download the apps to your phone and have a book on the go. I often add books to my READING LIST. I prefer books with short chapters and basic points - so my reading usually will fit anyone. Listen to someone who reviews books. Hmmm - perhaps the Read to Lead podcast by Jeff. Learn to skim. Check out How to Read a Book in 30 Minutes or Less.
Of course - let me know what you are reading! Post it to my Facebook page so I can read it also! iTunes If you liked this, please subscribe to it on iTunes.
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Lean Startup is a term I hear often. Recently, I was asked to talk about Lean Startups to a corporate group, followed by being asked to speak to a high school class on the same subject. So I wanted to share with you. Lean startups is about about starting or growing a company without going broke. It is a process for entrepreneurship.
Image is by Stephen Radford (modified) is licensed under CC BY 2.0 Click to Listen
Video
Validating Your Business Idea - Quick Notes from the Podcast
The myth and reality of entrepreneurship – Life in a Van down by the river. What is a minimally viable product (MVP) and why does it matter? Why we need an MVP and the resistance! How to use the Lean process to get to the MVP. Our own examples of being in scope creep mode and how we got out. No matter how much you plan, you will be wrong. How to size your startup by determining the potential revenue.
[Tweet "Starting Lean helps you avoid entrepreneurial scope creep. #entrepreneurship"] Resources (Some of my favorites)
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything
This podcast was supposed to be the 4th in a series I was doing with Anthony Witt from The Champion Entrepreneur - but things got lost in the mix and I just put this out. Anthony and I are still working together on Entrepreneur Dream Academy (See below). Check out the other podcasts we have done in this series:
Episode 102 - Finding Your Why Episode 103 - How to Find Your Passion and Your Why Episode 104 - Validating Your Business Idea
Want to learn how to find your passion and make it profitable? Anthony and I are launching the Entrepreneur Dream Academy in mid-September! We will be coaching a small group of hopeful entrepreneurs to help them find a business they love and develop a solid plan. We will walk each person through the process and give them the tools and connections they need to make a real go of it. Have you ever dreamed of starting a business? Have you ever thought about leaving the corporate world? Or are you just looking for something on the side? (Everyone needs to make 25% of their income from a side business – see why here!)
**We are only going to take the first 8 who signup. Once we have 8, it closes! iTunes If you liked this, please subscribe to it on iTunes.
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