June 2008

The Right People

One of the tactics that I have implemented in my business dealings is when I meet a person that strikes me as a gem, I always begin to think how we can create a mutually beneficial business relationship. This has paid off big for me many times. Sometimes the perfect situation takes years to show up, but I keep building the relationship, being mindful of looking for opportunities when they present themselves. continue reading...

Teaching Children About Money

As Family First Entrepreneurs, we have a duty to teach our children about money and everything that accompanies it. My children are young. Tucker is still a grub that smiles and drools a lot at seven months, and Jaken, who is four years old, is more ready and eager to learn. Sue, my wife, and I have been actively working with Jaken on this stuff for about a year now. continue reading...

Reflectors

Everyone in business needs someone outside their own company that they can talk to in times of change. Having this “reflector” is crucial because diversified entrepreneurs are in a constantly changing environment where good decisions on multiple topics must be made.

This person can be a mentor, a friend, a consultant, a life coach, or a hired gun. I have someone in every one of these categories who is only a phone call or a lunch date away. They have helped me make millions, and I touch base with them as often as possible. continue reading...

Smart “Wants” Consumption

In my book, ONO, Options, Not Obligations, I talk about controlling your consumption to create wealth. My basic premise is that it’s not about how much you make, it’s about how much you invest entrepreneurially. The largest mistake I see people make is in their consumption of what I call “wants,” things that they want, as opposed to things that they need. continue reading...

Old School

Raising capital is a huge issue that anyone in business faces in today’s economy, and people are having to step back into the realms of “old school” to get er done. I hear ya, “What the hay is old school capital creation?” Well, in my opinion, it dates back to farmer Ted walking down to farmer Elmer’s house and saying something like this, “Remember when I dug you out of that ditch and saved your crop, and you said if my family ever got in a pickle to come ask you for help? continue reading...

Gloucester High

If you haven’t already seen this story take a look after you read this. This is an example of how ONO could be helpful to our country at large. These girls are examples of forgotten children. In a family where both parents have the time and ability to be actively involved in their children’s lives, these things wouldn’t happen as much. The buck stops with the parents, morally, ethically, and spiritually.

http://wbztv.com/local/gloucester.high.school.2.751873.html

Lee Iacocca

Lee Iacocca has a book out called Where Have All the Leaders Gone? and I read some excerpts from it recently. In it he criticizes the leadership of this country in a very appropriate way. Although I don’t agree with everything he had to say, it made me think. As Family First Entrepreneurs, we need to be concerned about this from two angles. continue reading...

The Right Formula

In a conversation, a while back, with Aaron Offshore he spoke about a business he was looking at and he mentioned it had, “the right formula.” In context, I knew what he was referring to but I will explain. He was referring to the fact that a business that has the ability to pay more and more for the same amount or less work has the “right formula.” continue reading...

About the Money

I’ve been talking a lot with people lately about business ideas and new ventures. I’m always amazed how many times people tell me things like, “I’m not doing this for the money, I’m doing it to make a difference.” I’m not going to go on a rant and criticize people for saying something like this, but if that were true I would like to see how long they would last if they did it for free. continue reading...

From I Think So, to I Know So

When an entrepreneur goes from “I think so,” to “I know so,” it’s a beautiful thing. What I mean by this is that every new venture starts as an idea, and then it begins to bear fruit and becomes a physical manifestation of that idea. The evidence of this is what tells us we were right, and, depending on how much work and time it took to get to that point, it determines how sweet that knowledge can be. continue reading...