Business building – non-conformity wins the day

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Save the TALL poppies

Looking for business building tips Brisbane? Try non-conformity!

In the area of career and vocation, conformity is getting a job, commuting to work each day and putting in a solid 8 hours or a stressful 10 hours, and doing much the same thing next day and every day after that until retirement.  That’s what the vast majority of the working population does.

So many entrepreneurs choose to start a business specifically to get away from the herd mentality.  They have a good idea; come across an opportunity; and give it a go.  Money is usually a problem but as far as escaping the rut, the commute or the unreasonable boss goes, there is nothing to lose.

In Australia there is a social phenomenon where people of talent and achievement are resented and criticised if it is popularly perceived that they regard themselves as being a cut above the average Australian.  It is called ‘the tall poppy syndrome’.

That is why many successful Australian entrepreneurs carefully craft their image as that of an ‘Aussie battler made good’, insisting that they are still Aussie battlers at heart, and always championing the cause of the everyday Australian.

I will continue on the need for a powerful business mind in my next business building blog.  For more on breaking free of herd thinking, check out my Aikido Secrets blog at http://www.aikido-secrets-to-calm-success.com/

Remember that Ai-ki mind power is good for business.  If you are looking for your own Personal Ai-ki Mentor to guide you into a powerful business mind, and help you’re your business education, check out my previous blog below and drop us a line at coach@garyweigh.com

Until next time!

Gary

Business planning – the element of non-conformity

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Non-conformity; be different

As I said in my last business planning post, there are two distinctive traits that work strongly in the favour of the everyday entrepreneur.  These are:

  • Previous experience; and
  • Non-conformity

Non-conformity is the desire to break from the pack to be different – thinking different and acting different.  Now that takes courage, because most of us have spent our entire lives doing our very best to conform so that we didn’t attract the negative attention of bullies, the law, our teachers or dissenting family and friends.

Think about your many long and perhaps painful years in school.  It was all about conformity, in terms of learning, performance, presentation and behaviour.  It didn’t always pay to be different; and that still holds true!

Entrepreneurs emerge through the innovative application of the very same knowledge that everyone accumulates; sometimes less.  As far as business principles go, there is nothing new under the Sun.  But in terms of business application there is plenty new; so much so, it is hard to keep up.

Entrepreneurs may have learned the same way as you or I did, but they apply knowledge differently to satisfy the needs of a wider audience.   They also have the courage and determination to put their innovative thoughts into action, and to ignore their detractors.

Of course the flip-side of the same argument explains why there are so few entrepreneurs in relation to the wider population.  Simply put, we are trained not to be!

Society is structured around conformity.  It is much easier to conform than not.  Non-conformity means having to rebel and mentally break out of lifelong habits; to swim against the tide.  That is really hard to do!

Conformity generally attracts praise, mostly because it reinforces in others that the safe decisions they have made in their own lives are indeed the right ones.  Non-conformity makes others feel uncomfortable and ill at ease with their own choices.  Hence, it attracts jealousy, skepticism and criticism.  For those who become successful, there awaits the mother lode of negativity – the ‘tall poppy’ syndrome.

I will continue on the subject of non-conformity in my next business planning blog.  Check out my other blog at http://www.aikido-secrets-to-calm-success.com/

Until next time!

Gary

Starting up a business – the benefit of experience

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When starting a business, there are two distinctive traits that work strongly in the favour of the everyday entrepreneur.  These are:

  • Previous experience; and
  • Non-conformity

Previous experience builds useful context for making decisions, many of which have to be made under some pressure.  The great thing about previous experience is that it doesn’t have to be your own.  You just have to have access to it.  Hence, there arises the need for a coach, mentor or key employees.

Even though non-conformity is a key element of entrepreneurship, it is important to know what has gone before so that you can either ignore it or build on it.

I have been a practitioner of Aikido for many years.  (If you want to find out more visit my dojo’s website http://www.griffithaikido.com.au).  There is a huge syllabus to learn and there are many mistakes to make along the way.  Time on the mat with a good instructor and fellow practitioners builds experience and proficiency.

The same applies when it comes time to make business decisions.  Time in the decision maker’s chair, time in the industry, and regular practice with other people (i.e. customers, staff, suppliers, collaborators, professional advisers) helps build a mental inventory of solutions that have worked well in similar circumstances.

In the end, most people succeed because they are determined to, but access to knowledge and experience will certainly help you reach your goals sooner.  It also conserves money by not wasting so much of it by stumbling in the dark.

I will discuss the need for non-conformity in my next business planning blog.  Check out my other blog at http://www.aikido-secrets–to-calm-success.com

Until next time!

Gary

Business planning – it’s holistic approach whether you know it or not!

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In business planning as in all other life maneuvering, we are primarily concerned with ourselves – our own sense of worth, our own dreams and ambition.

So it is not surprising that the success of business planning is highly dependent on the owner.  The characteristics and qualities of the owner ultimately shape a business.  That is why Angel Investors look closely at the qualities and capabilities of the entrepreneur and his or her team.

In business planning, no two businesses are the same.  It may look that way at the start of the process but it is never that way at the end.

When Gary Weigh & Associates works with a client to plan a new business or to renovate an existing business, the same principles apply but no two outcomes are ever the same.

Every business is painted the colour of its owner; and that colour is derived from the owner’s personality, beliefs, values, strengths and weaknesses.  Importantly, the way each business is operated reflects its owner’s state of mind.

The state of an owner’s personal life and relationships will have a direct influence on the business, as does the owner’s financial position.

That is why we insist on planning your business venture around your desired lifestyle.  Most people don’t do lifestyle planning, just as they pay little more than lip service to genuine business planning.

At Gary Weigh & Associates, personal life balance and business life balance are planned together.  Even then it is not a fixed narrow path.  It is an open, flexible approach.

This method has evolved over time as it has become obvious that template-type business planning simply doesn’t work.  There is more to it than product, market, structure and organisation alone.

This holistic approach is the only one that works these days, because in a fast and furious business environment, it addresses the needs of the whole person and related stakeholders beyond the business realm.

Until next time!

Gary

To read more about work-life balance and the value of a calm mind, visit my Aikido Secrets site at:

http://www.aikido-secrets-to-calm-success.com/life-balance-%E2%80%93-achieving-the-right-family-balance-for-you.html

Business planning – it is all in the mind

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Even in business planning, the brain is the most amazing gift we have. It is unique in its abilities and nothing we manufacture on earth can match it.  Unlike any computer the brain is capable of conscious thought, reason, insight, self awareness, abstraction and self protection.

What is truly amazing is that the brain never puts out a sign to say “I’m full!”  We can always build upon our ability to get more out of it.  It is a ‘use it or lose it’ nerve centre, sensory processor, thought factory and body regulator.

The more we learn, the more we actively use the brain.  The more we train the brain, the more powerful it becomes.  The brain thrives on the benefit of experience.  Our previous experiences build that context.  Therefore, when we use our eyes to see, we actually see in context.  Our perceptions don’t necessarily equate to reality.

When we decide to act, it is the brain that is actually leading the charge.   We generally make decisions based on what has worked well in the past (i.e. context).  When starting a business, there is often little or no direct previous experience to call on, but decisions are still made, rightly or wrongly.

All too often, blind enthusiasm can sweep the business novice past the commitment stage onto the business path.  Sometimes it is the right path.  Sometimes it is not!  Either way, there is no turning back.

The first serious reality check can find the first time entrepreneur immobilised in the middle of a new reality, unsure how to proceed; seeking solutions to problems never faced before.

Suddenly, procrastination and inaction are not options.  They are pre-commitment luxuries.  Solutions must be found for problems like chequered cash flow, ineffective marketing and unreliable relationships; problems typically encountered in a business start up.

Only a calm mind and positive action can find effective solutions.  Panic only serves to make the situation worse because the panicked mind always gives way to fear and plays out all manner of imagined outcomes of doom.  It becomes worse if the new owner is alone with no help.

I will continue on the need for a powerful business mind in my next business planning blog.  Check out my other blog at http://www.aikido-secrets–to-calm-success.com

Learn Aikido – the art of peace and develop your own calm positive mind http://www.griffithaikido.com.au

Until next time!

Gary

Design your life and income YOUR WAY!

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When you undertake life planning and business planning bear in mind that there is plenty of everything in this world except time!

If you want to generate a high income and live the lifestyle you dream of, you must design your work and your life in a time economic fashion.  You have only so much time and the clock is ticking.

There are no hard and fast rules about how to make money – apart from the obvious like:

  • Chase demand
  • Create a great offer
  • Be legal
  • Be ethical
  • Be trustworthy; and
  • Keep your income higher than your expenses.

There is no rule that says you must follow the herd to work each day and sell your time.
With a little creativity and determination, there are endless ways to make money, particularly with low cost internet access to a whole world full of customers.

Think different!  Use your imagination!  Leave the herd!

If you haven’t read – The 4-Hour Workweek by Timothy Ferriss …. You should!

Tim Ferriss is way out there!  He is far away from herd mentality in his thinking about how to live a full life and generate the income to finance it.

He is young and adventurous ….. and whether he actually works 4 hours a week or not is not the point.  The point is that he is living the life he wants!   And he is making the money to finance it.

On www.garyweigh.com/blog, I have always emphasized that success is born out of differences, not sameness!  Being like everyone else will get you nowhere.

I have also hammered the point that doing more, working harder and going faster does not always equate to productivity.  It is planning, focus and working smarter (and often doing less) that gets you the work-life balance you dream of.

I don’t want to duplicate Tim Ferriss’s life but I sure like some of his ideas, particularly in the areas of non-herd thinking, time economy and outsourcing …. and so will you!

The 4-Hour Workweek is available from Amazon via the e-store on the right hand side of this page →   →   →

Until next time!

Gary

If you want to read more about planning the life you want, visit my Aikido Secrets blog and read my Life Balance series starting with The Mindset for life

http://www.aikido-secrets-to-calm-success.com/aikido-secrets-%E2%80%93-the-mindset-for-life-continued.html

Business planning – the need for a strong mind

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In my last business planning post, I shared my belief (born out of my own professional experiences) that even though all people dream and the majority of them have the entrepreneurial streak, most everyday entrepreneurs lack the mind skills to steer their business and wealth dreams through to successful implementation.

This is because implementation requires more than just doing.  Firstly it means having a strong will to act.  But activity alone is not enough.  People at work all over the world spend a lot of time every day at work generating activity that is totally unrelated to any profitable purpose.

Business implementation requires focused and productive activity; and that usually means stepping out of your comfort zone and doing the hard stuff that drives directly towards achieving your goal.

Essentially, that means deliberately steering yourself away from the familiar and making decisions in areas that you don’t fully understand.  Often those decisions can prove to be wrong and you must stay positive and optimistic while trying to find the right path.  So implementation can be a long, difficult and frustrating journey.

It is one thing to solve technical problems, but starting a business invariably relies on other people saying YES.  Think about it!  You are not in business until at least one customer says YES to you.

Depending on the type of new business and the start up proposal you are trying to implement, there are several other stakeholders who may need to say YES also.  These include key employees, suppliers, financiers and collaborators.

The process of winning support can be a very frustrating, particularly when people say NO.  It can undermine self confidence and stretch out the anticipated period of implementation.

It may also be the case that you forego income through this period so that you can remain 100% focused and committed to the task.  So it is not hard to imagine how the pressure can quickly build.

There comes a time when decisions need to be made whether to keep going or quit.  This is where determination and tenacity enter the mix.  Only a strong mind can keep going in the face of excruciating pressure to quit.

I will tell you why it is all in the mind in my next business planning blog. Check out my other blog at http://www.aikido-secrets–to-calm-success.com

Until next time!

Gary

Business planning – the business mind

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In business planning, much has been written and said about entrepreneurial thinking and the traits that entrepreneurs have in common.  But not much is said about actually developing the mind set that supports entrepreneurial thinking.

Let’s widen the definition of entrepreneur beyond the person with the big business idea who has the charisma and tenacity to win support for its successful implementation.

Now let’s call them the ‘everyday entrepreneur’ and include anyone who has a dream; has the guts to take a risk and have a go; and who gets a result, either good or bad.  So in my view, that can be:

  • Every business owner
  • Any action-driven risk taker in any context – e.g. business, sport, science
  • Anyone who attempts to network for gain; and
  • Anyone who addresses groups or speaks publicly

That’s a lot of people.  Well that’s my point!

Most heroes go unnoticed in this world, as do most entrepreneurs.  Your name doesn’t have to be Richard Branson, Dick Smith or Donald Trump to take a risk and have a go.

Many people try and many people stumble because they run into problems that they feel ill-equipped to solve.  That’s why it’s a common to hear of entrepreneurs having many failures before finally achieving success.

It is my experience over the past 30 years that all people have dreams; the majority have the entrepreneurial streak (in the wider definition), but most lack the mind skills to see it through to successful implementation.

More on business planning – the business mind in my next blog.

Check out my other blog at http://www.aikido-secrets–to-calm-success.com

Until next time!

Gary

Business planning – beware the borrowing trap

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How’s this for poor business planning?  When someone goes completely broke, it’s almost always because they borrowed money.  Ironically, it is not the poor who fall from grace and go broke.  This is because generally the poor can’t borrow money easily.

It is those with higher income and easy access to borrowing who at most at risk.  In many cases, it is also those who should know better, such as financial professionals in large companies.  But there is no accounting for greed!

Borrowing money is also glamorously referred to as ‘leveraging’.  Borrowed money comes in many forms – e.g. personal loans, secured loans, margin loans, mortgages, and credit cards.

Borrowing money to invest instantly puts you at risk to lose more than your original investment.  The recent Global Financial Crisis (GFC) has demonstrated that.  It’s just that when viewed through the rose coloured glasses of a booming economy, it doesn’t look that way.

Borrowing money for personal reasons (non investment) is financial suicide.  The risk is high from the start because whatever it is you buy with the borrowed money (e.g. a car) makes no income and therefore contributes nothing to ease the repayment burden.

It sounds old fashioned but if you handle all your financial affairs and investments on a cash basis, it is almost impossible to lose everything, no matter of what unforeseen event may happen in the world.

Until next time!

Gary

If you are looking for a basic book that explains personal finance in a common sense way, you won’t find better value for money than

GET A FINANCIAL LIFE written by Beth Kobliner

→ available now in the Amazon library → on the right hand side of this page →

It focuses on personal finance into your twenties and thirties but in my opinion, it is a basic handbook for people of all ages.  This book is an investment in itself. It is only USD $10.77 and when you land on Amazon’s site you will see cheaper options.

Business planning – income is the foundation of your wealth

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Critical to business planning is the science of financial management.  Financial management is all about the source and use of money.  I refer to it as a science because whether in business or in personal finance, there are certain rules you must observe in every day financial management.

One of the foundation stones of financial management is:

Your career and therefore your income provide your wealth!

Your income is the foundation of all of your wealth building.  Therefore, your prime focus should be on generating income, rather than borrowing money.

Your focus should also be on saving your income instead of spending it.  It is the part of your income that you save that forms the backbone of your future investments.

It is most likely that you will make far more money from your business or profession than you will from your investments.  Your investments can make your future more secure and your retirement more prosperous, but without income, investments alone will not take you from rags to riches.

Only very rarely does someone make a large fortune from investments.  When that happens, it may appear to be a hot tip or good luck but it is generally achieved by someone with a high income and savings potential.

When planning investments, your priority should be to preserve what you have.  Preserving what you have will be an unlikely outcome if you pursue complicated schemes that promise high returns in the short term.

Until next time!

Gary

For an introductory look at Personal Finance it is hard to go past this book.

TURNING MONEY INTO WEALTH (5th Edition) by Arthur J Keown.

→ available now in the Amazon library → top right on this page → → →

This is an American introductory finance book written by a Professor of Finance at Virginia Tech Pamplin College of Business.  Although it is primarily a text book, it is a surprisingly easy read.

It has to be said that USA tax laws and other regulations contained in this book are different to those in Australia but the author provides a great presentation of the fundamental principles of personal finance, which are universal foundation principles.   That is valuable information if you are looking to enhance your financial education.