Just 90 minutes a day…
Originally sent exclusively to The Letter subscribers on November 3rd. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.
Evening gang,
Dig deep and find those minutes, you’ll need just 90 of them a day.
If you’re in business and things aren’t going the way you want, join the club.
That’s the daily reality for entrepreneurs. The constant jostle against whatever storms come our way is part of the job.
The rollercoaster of ups and downs is part of the territory.
Frankly, we have to admit we’ve all had those thoughts: the arguments at home, the thankless tasks you must do just to keep going.
You know you could make it easier by thinking smaller, but that’s not you - you want to do more.
You may ask yourself: why do this stupid thing?
My years are leaving me; the punches are constant.
It’s like sailing a ship with a torn, half arsed, hand-me-down of a sail, yet you climb the mast with thread in hand to repair it with worn-out tools, just as a chilling gale blows against your beaten-down efforts.
You feel the cold, you feel the loneliness. Still you pursue your endeavours. You’re an entrepreneur. You have a crew that needs you and a destination to reach. (Knowing the destination helps greatly - most don't, they sail around like they're looking for water)
This month produced a disappointing set of numbers in our hospitality and leisure business - probably to the tune of £500k, down on last year - yuck!
I haven’t done the full count yet. It’s simply not fun. Trouble is, costs don’t fall in line with decline: wages are high, rents and rates still demand their slice of a smaller pie.
I admit disappointing numbers send me into a slumber.
I don't drink - so no vino for me to temper my mood.
All my other businesses that had a good time will have to pick up the slack, which means they are robbed of their cash flow to support the wider group, that's the beauty of diversification.
So that’s a slice of discontent in your sandwich for lunch today.
The reality is I am always battle-ready. I have seen these storms of disappointment for years; I brush myself off and get going.
The answer is to grow out of the problem. Contraction is the beginning of death.
Those who retreat end up losing, you may feel a temporary respite but disappointment soon festers in your noggin.
You have to march forward with 90 minutes of clear, articulate planning.
Just 90 minutes a day, working on your business not in it. Find the time and you'll help yourself to tremendous riches.
Find a room and a notepad. Then brain dump.
Using pen and paper works so much better than whizzie tech!
Start with the heading:
How am I going to make things better?
Sub head; How am I going to get better and up skill!
Think about the three constraints that hold a business back:
Constraints on capital
Constraints on talent
Constraints on the leader
If you need more capital, work on a plan to get more leads, more sales, more revenue streams, build better models, or raise funds.
If you can’t do that, identify the talent you need to help achieve those things.
And remember - if you’re not good enough, if you’re constrained in your thinking, how can you expect to move forward with better talent and more capital?
Talent and capital are attracted to great leaders. They always have been.
It's as true as night follows day.
Talent and capital are attracted to leadership like metal to magnets.
And lastly...
Disaster happened to me today: I woke up and my big toe had gone; in its place was a note that read, “Gone to market”
Quote of the week;
Never wish your life were easier, wish you were better. - Jim Rohn
To your continued success,
James
PS. Don’t forget our first event of the year is fast approaching and it’s a good one! I will be teaching you how I get customers though my doors all year, find out more information here.