'Objectives', are truths I hold to be self evident. If you live in America, you're familiar with this idea because that's how the Declaration of Independence reads: we hold these truths to be self evident.
In the case of a country, laws support objectives. In the case of business, sound business practices then, should support our objectives.
When I devise objectives for my business, I've created my independence. I've said insomuch: "this is the way it's going to be according to me". This is the business I want, the market I want, the clients I want, the employees I want- and lastly, the cash I want.
Not to digress, but if you start out being motivated by money; you will never have any. Only when you add value, having the 'objective' of adding value to people's lives, will you see any money.
All my businesses have clear cut objectives. Meaning, they are written down. They are part of the business mission statement. Further than that, there are things that I and the company need to be doing each and every operational day, to insure success.
Let me give you an example: let's compare this idea of objectives as it relates to our subject yesterday- dance.
When I taught dance seven years ago, I loved everything about it. I had a boatload of students, I was making money hand over fist, (again, because I was adding value to people's lives) I was creating, my students were happy, my students were learning, we were asked to be on T.V., I got a lot of attention-everything was hunkie dorie.
Over time, because I had a bigger vision, and I started educating myself about business, I began to grow restless. I began to realize I could do more.
I remember one day thinking: my students think I'm a dance instructor.
That began my exist strategy.
My current business plan reflects that in 3 to 5 years- one of my companies will be in the millions. I could not make millions teaching dance. My other company has been in the six figures as of 2008. I could not make six figures teaching dance.
(I teach twice a month now, because it was Lucia's birthday and her husband, Mike, knew me and wanted to give Lucia a special gift. I was like: Whoa. Okay. They really need my help! In November they will graduate and know how to dance to every single song that they'd ever hear! I'm very proud of them. Plus they get a certificate suitable for framing. Ha.)
However, just like the Declaration of Independence set a nation free- as you know, that freedom did not come without sacrifice.
If you want freedom, you're going to have to sacrifice to get it. There. I told you straight up.
Make sure your objectives are worth sacrificing for. I'm going to shoot perfectly straight with you- you're going to have to make so many stinking sacrifices for your objectives- you're going to want to quit. This is where we shall find out how bad you want it. Give up? Or go on?
More tomorrow about living congruently aligned with your objectives and what you told yourself is important.
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You're absolutely right, E.C. I've always wanted to start my own business, and while I THINK I'm willing to sacrifice, I now realize I haven't been willing to sacrifice my comfort zone and jump into the fire to reach for the stars. I think the other part is that I haven't found something I love enough to leave my security blanket, but that's a whole other therapy session...
ReplyDeleteI do what I love, so I generally don't think of the things I don't get to do (or have) as a result, as sacrifices. I think of them more as things that would get in my way if they could. But then my only objective is to keep doing what I do and no one else is involved so I guess I'm lucky – or simple!
ReplyDeleteChloe > I made sure before I leaped- that it was a calculated leap. When I exist one thing to start another, I make sure that next bridge is really steady.
ReplyDeleteDon't feel you are "less than" because you haven't made a brazen, stupid move!
It's always about risk control.
> The more I know you- the more I see you can do anything you want.
Eryl> I ADORE your profile pic. I can see you are very creative!
ReplyDeleteI do not think for one second that people need to do what Entrepreneur Chick does.
I do think, however, that everyone can build up an asset base. That base does not have to include only owning a business, or in my case, businesses.
I gravitate to business because I understand it better than real estate or investments. I feel I can control it more readily.
Simple is somethin' you ain't! I can tell.
I agree 100%. I am fairly new to the entrepreneur game, but like the vast majority of the population I've always thought that money was enough motivation. Now I realize, who doesn't want money? Why isn't everybody rich if we all want it? It has to be bigger than money. Ironically enough, the only way to really make money is to almost ignore the fact that you will be making it.
ReplyDeleteGood for you, Dad; to be 'new to the entrepreneurial game'- in that now you can have control!
ReplyDelete> "Ignore the fact that you will be making it". Weird. Dichotomy; but true. I guess that's what my awesome accountant and book keepr are for.
> I do "run numbers" though, to give me a general idea of "how much for how much" and also, to see where my break even mark is. (Okay, and also to see if that cute little dress from Victoria's Secret is still a go.)