Why You're Not Getting Huge Business Deals
Why You're Not Getting Huge Business Deals
Why is building a legacy important for business owners?
I want to leave something for my kids—something they can carry on if they choose. That’s the bigger picture. Another motivation is proving to myself daily that I won’t go back to the place I was before. After leaving the fire service, I had to realign with my goals and get clarity on my end game. Now, every day is about constant improvement, pushing forward, and not letting that inner voice—the 'monster'—pull me back down.
Why is sticking to a daily schedule vital for successful business owners?
Keeping a schedule has always been a challenge for me. I’m great at wasting time and getting sidetracked—‘following the squirrel’ is my joke for getting distracted. My schedule is what helps me regain clarity and remember my purpose. I don’t win every day; some days, I do get sidetracked. But the next day, I get back on track, rinse and repeat, and keep moving forward.
Why is it important for business owners to focus on consistent, daily progress?
Taking one step forward every day is better than moving two steps back. Constantly ask yourself, 'What can I do today to make things a little better than yesterday?' Over time, that clarity will build, and the confusion will shrink. You’ll start to see your purpose and direction more clearly. This approach worked for me. Developing this mindset requires training yourself to keep moving forward, even if you face setbacks. Aim to end each day with something that advances you, even if it's as simple as taking a walk to clear your mind. The key is to keep the momentum going, even when times are tough.
What are key strategies business owners should utilize to boost their productivity?
Developing processes and procedures is essential for tasks like bookkeeping and marketing. If you're handling marketing yourself, it’s a big commitment. You may need to limit it to a few hours daily or set specific times, like once or twice a week, to focus on it. Marketing can be very time-consuming, so having processes in place helps keep things efficient and organized. Streamlining paperwork and small tasks allows you to shift smoothly between roles, like bookkeeping and marketing, and maintain momentum without getting stuck.
What should business owners consider when choosing the right business partner?
The partner I chose when I first started the company turned out to be a bad choice. From the outside, he seemed to have great integrity, but over time, I found that wasn’t the case. After two years, I discovered that a significant amount of money was missing, along with miscellaneous items bought on our shop accounts that he used for personal expenses without discussing it with me. Financially, it was a costly resolution. I ended up having to pay him to remove him from the company so I could have full ownership.
If you’re planning to partner with someone in business, think of it like getting married. It’s not that partnerships lack value—there can be immense value—but you need to approach them in a specific way. The number one priority is having clear contracts in place for safety and clarity. Beyond that, the relationship aspect is equally critical.
You need to sit down and have an open, honest conversation. This means discussing roles, responsibilities, and financial arrangements. Who will do what? How will money be split? When will profits be distributed? These are essential questions to address upfront.
Having these conversations isn’t easy. It can bring a gut-wrenching feeling, especially when you’re excited about starting something together. Talking about money and ownership dynamics can feel uncomfortable, but it’s necessary to ensure the partnership has a solid foundation.
*This interview has been edited and condensed for clarity.*
