The Danger of Doing Nothing

One of the most common obstacles I run into with potential clients that seek my coaching services to help them with their business, is their hesitation to take action.

It is not unusual to see an owner of a contracting business, frozen in their tracks with fear when business takes a turn for the worse. What most do not realize is that due to their lack of mastery of their business skills, their business was doomed before the economy turned on them.

Now, don't get me wrong. I'm not implying that all is lost. In fact, my recent review of my coaching clients that came to me six-months ago demonstrated the power of getting help.

Let me explain.

The clients who started with me back then, religiously follow up and implemented the changes I worked with them, have shown HUGE gains. For all practical purposes, I'll focus on the smaller volume clients. Those doing under $200K in Sales in that time period. We made big changes in their pricing model, marketing, business strategy and financial control. All have seen an increase in Sales, been able to take a weekly salary, and showing a Net Profit for the six-months ending in the 21 to 23 percent range. That means around $21,00 or more after paying themselves a reasonable weekly wage. All within six-months!

Yet, many others, due to their lack of taking action, have not been able to achieve similar results, or anything close.

You see, getting help does HELP! Doing nothing, gets you NOTHING!

Getting the right coaching help to improve your business, make money and sell your products or services, is the right thing to do.

Without it, you keep yourself on a path of nothing.

So, instead of doing nothing, or trying to figure out the right strategy when you have no clue what to do, the best strategy is to get expert advice. Advice from someone who has seen your predicament before, and knows the correct path to turn things around.

What you need is the best strategy, that powerful one that layers all the proven strategies one on top of each other in a synergistic model to produce the best result possible for you and your business.

Don't be that frozen deer standing in the road staring into the oncoming lights of the inevitable. Get help now, not later.

Because the outcome of doing nothing is predictable.

Ready to talk? Click on the link below and we'll set up an appointment.

>>>Henry! I'm ready to do something. Let's talk!<<<

The Curse of Delay!

How many of you use the curse of delay to postpone taking action or doing the ‘things’ you know deep in your heart need to be done?

I suspect many of you use it all too frequently. As a matter of fact, it is the most common of human traits. It is also called “Procrastination.”

Maybe it was embedded into your personality as a youngster. Possibly, you learned to do it in your early adulthood. However, as an adult, one with massive responsibilities, it can lead to massive problems.

Understand me, I don’t believe that the ability to delay is something that you were born with. It is a believe system or habit that you allowed to take over your decision-making process.

I use the curse of delay to prolong or control my spending. Especially, with pricey and high-ticket items. I like to sit back and re-think it. It gives me a chance to properly evaluate its needs and to suppress that emotional urge to feel good by purchasing it. I also find that as I am getting older, I use it more often. Maybe I’ve learned a thing or two along the way?

Unfortunately, there are “things” that the curse of delay impacts dramatically in an problematic manner. In business, this can be where you feel its impact financially.

Some people are feeling the lack of sales. From the beginning, I’ve spoken that the one ‘thing’ you don’t want to do is stop your marketing. If sales are lacking, marketing is the business tool that is suppose to generate leads in order that sales can be produced. However, if you have a poor marketing strategy, nothing will help until you improve it.

So what do you do? Do you delay or find out how to improve your marketing? I recommend the later.

It is very much like the financial management of your business. Do you delay finding ways to cut back and survive, or do delay? I saw way too many contractors put the full weight of the curse of delay on this one. The result? Well, they’re gone now.

You see, there are some things you NEVER allow the curse of delay to affect. Improvement is one of them. Whenever you have the opportunity to improve yourself, your business, your future, your relationships, you do not allow curse of delay to stop you. You never allow the excuse of money to stop you. You never allow the alleged lack of time to keep you from improvement.

Remember, improvement come from work. Work comes first. Then reward. It’s not the other way around.

Struggles will always come first. But you must see the work as a way to overcome your struggles. By forcing yourself to implement the work in order to achieve the improvement, you are creating a habit of success.

Try it today. Pick an area or problem in your life or business. Commit to doing the work and making the investment of time and money to overcome it. Mastery takes time. Like anything of value in life, it is worth it, but only if you achieve it.

Why the Future Looks Uncertain

We are hearing a lot of proclamations of a revival in the housing market. The media and Washington seem fixated on trying to hypnotize us that a magical recovery is taking place.

I won’t argue against that, I like you, welcome the increase in sales and work. However, it is too little, too late.

In 2006, I told many that they needed to be careful because the market didn’t make sense. I advised them to keep a toe in it, but to be cautious not to submerge themselves fully in it. Some listened and some didn’t.

I believe we are possibly looking at the same scenario right now, but at a much smaller scale. Right now, investors and the big home builders are fueling the market. Investors alone are pushing pricing by over-paying as much as 30% Rental properties are showing strong positive cash flows. However, other factors need to be considered for the overall, long-term BIG picture.

A slowdown in demand for aluminum is viewed as a precursor for slowing economic activity, much like copper and lumber, and so weakness here confirms other indications of a slowing global economy.

For the week, economic news was mixed as the Case/Shiller Home Price Index showed a strong updraft in housing prices with a gain of 10.9 percent year-over-year. Three other closely watched economic reports also posted positive numbers with consumer confidence and sentiment rising in May and the Chicago PMI registering 58.7. Bad news came from pending home sales, which missed expectations, and consumer spending and income, which were both weak and below expectations and reflected a consumer pulling back on spending while incomes remain flat.

The unchanging numbers of unemployed Americans coupled with a downgrade in consumer headwinds will add significantly to the U.S. economy. Initial jobless claims spiked higher on Thursday to 354,000 on expectations of 341,000 and the revised GDP report showed the U.S. economy limping along at 2.4 percent, well below normal recoveries and below expectations for Q1.

One last Coup de Gras and the biggest news is the sharp rise in interest rates. A 30 year fix is posting at 4.10% as of Monday morning. So the temptation for higher interest rates is showing its hand. This will be the significant game changer for our economy. I believe the Feds printing of easy money which has already created previous bubbles or contributed to them, could easily deflate any resurgence in the real estate market. So we have a wait and see situation.

Here is the outlook I see. The economy is your marketplace. Go for sales that are going to make you money. Use that money to pay off debt and build cash reserves. Since normalcy is not the norm, any other thought would be the equivalent of committing Hari Kari.

How to STOP Hurting Your Business!

Which is it, the economy or you that are hurting your business?

With the uncertainty about the economy, many are wondering what is wrong with their business. In many cases, the answer lies in your ability to come to terms with “how” you manage your business, not is “what” is happening to your business.

Typically, a business owner realizes that their business is in trouble. However, they fail to take corrective action. You should want more and care enough about your business that you will not allow, nor will you settle for mediocrity. I am going to reveal four common mindsets that will hurt your business if you fail to implement them properly.

Failure to build lasting relationships with your customers. Satisfied customers, people who have bought from you and who are happy with that experience, need to be cultivated. They need to know you appreciated their business, that you understand what is of interest to them, and that their powerful referrals are appreciated. People forget, don’t assume they don’t. Keep in touch. Make ‘special’ offers, and always ask for referrals.

Failure to prune your operation. Assuming everything is okay is a mistake! You will wake up some morning to huge problems. Take inventory, set standards, design standard operation procedures, and monitor performance. Don’t wait until it is too late. If something or someone isn’t meeting the standards and required performance levels, take action. By pruning, you get rid of the deadwood and help the good wood grow. It is a necessary action for developing a winning organization.

The dreaded “I-Do-It-All” Syndrome. Afraid to delegate? Scared stiff to give your employees responsibilities? Do you really think you’re the only one who can get it done correctly? It is time to check yourself in for a psyche test!

It’s not uncommon for business owners to ‘waste’ numerous hours doing the work that they hired employees to do for them. Ever wonder why? Usually it is because you failed because of the following:

·         Failed to have a workable system in place.

·         Failed to properly train the employee to the system.

·         Failed to properly communicate with the employee.

            You see. It is not always the employee. What you have is an organization problem of major proportions … YOU!

            You need to learn the art of “Leverage and Linkage,” that is the effective process of written systems, standard operating procedures, and employee training.

           

Failure to sharpen your own saw! Knowing you should be doing better, but failing to get the help and guidance to correct it, will never make it get better. You’ll still be dealing with all the stress, chaos, and frustrations of your business.

Improving yourself and your business is a constant and never-ending process. The sooner you come to terms with this fact of reality, the sooner you can start solving a lot of your major business headaches.

Perfection is something that is unattainable. It is the pursuit of perfection that produces winning advantages.

How to Avoid the I.R.S. Crippling Your Business

Business winds down, payments slow up and cash flow barely exists. To compensate, you delay paying Uncle Sam.

Before you know, the IRS is knocking on your door, assessing fines, fees and interest. You know you owe. You’ve checked that, but what do you do when you haven’t got the money?

Don’t panic! The IRS isn’t going to send a SWAT Team to kick down your door and drag you away. However, this also doesn’t mean you should ignore them. If you know what you will owe them before you file, go ahead and file your return as soon as possible. If you fail to file, it adds a 5% per month non-filing fee that increases by 5% up to 25% for each additional month you don’t file.

The IRS will accept a written request for extended payment time, up to 45 days, if you request it in writing. However, this is a temporary window, and you need to come up with a strategy, payment or something.

Let's talk about that. 

I am not a proponent of trying to deal with the IRS by yourself. I recommend having a CPA or tax attorney do it for you. The reason is simply. Go to a casino and the odds are always in the best interest of the house. The same applies here.

With that thought in mind, I suggest a CPA, Tax Attorney or a qualified tax resolution official. They have the expertise and knowledge to negotiate you a better deal than you can yourself, and possibly get a reduction in the amount you owe.

The important thing is to take action coupled with a strategy and professional help.