“If you are going to have a great team, there should be no excuses and no finger-pointing when somebody else on your team is not perfect.” – Coach K.
High performers can do almost anything they set their heart and their mind to. But not every mountain is worth the climb. What differentiates high performers from others is their critical eye in figuring out what is going to be meaningful to their life experience. They spend more of their time doing things that they find meaningful, and this makes them happy.
- A government mandated minimum wage prevents people from deciding for themselves what pay to accept. If a person cannot find an employer that will hire them at the minimum wage level, they are legally barred from accepting a lower paying job.
- A raise in minimum wage will raise the pay of some workers but stop others from working all together.
- The biggest victims of a minimum wage increase are the lowest skilled workers. When minimum wage increases, higher skilled workers will now compete for jobs that previously we too low paying.
- It hurts businesses
- Many will hire fewer employees. We already see many fast food restaurants automating their services to reduce the number of employees needed so that they can stay in business.
- Many will reduce perks and benefits
- Some will simply have to go out of business
Have you read the book? Thoughts?
Over the past couple of weeks I’ve had a number of people asking me for suggested books to read. There are a lot of great books that I’ve read and there area always new great ones being published.
I refer most people to my Reading List if they are looking for a book to read. My Reading List is the list of all the books I’ve read split up into different sections. It also has my top must read and currently reading lists. If you are interested in any of the books on my list just click on the title and it will take you to the Amazon page where you can learn more about the book and order it for yourself.
But there are two books that I have suggested in the past couple weeks that I’ll point out. The first one was one that made me think a little more than normal. The reason was because of the person who asked. It was my 14 year old son who came into my office and asked if I had a book he could read. It made me sit back and think about the books that I’ve read that I would really like my son to learn something from. I’ve had him read books such as The Compound Effect and The Richest Man in Babylon. This time I thought the book that would be great for him to learn from at this time in his life was The 10X Rule: The Only Difference Between Success and Failure. So if you are looking for a book that will help you to learn how to take massive action to achieve your goals, it’s definitely a book you need to read.
Another book that I suggested to someone yesterday was Red Notice: A True Story of High Finance, Murder, and One Man’s Fight for Justice. This is a true story that will grab your attention and you won’t want to put it down!
A New York Times bestseller: “[Red Notice] does for investing in Russia and the former Soviet Union what Liar’s Poker did for our understanding of Salomon Brothers, Wall Street, and the mortgage-backed securities business in the 1980s. Browder’s business saga meshes well with the story of corruption and murder in Vladimir Putin’s Russia, making Red Notice an early candidate for any list of the year’s best books” (Fortune).
If you are like me and travel a lot, take advantage of your travel time and listen to your books on audio. For a free trial of Audible and two free audio books, click the link below:
A couple of weeks ago I had a friend suggest that I read the book On Fire: The 7 Choices to Ignite a Radically Inspired Life by John O’Leary. It’s a great book that I didn’t want to put down. I was amazed and inspired by O’Leary’s story which really makes the reader think and reflect on their own lives and what drives them.
When John O’Leary was nine years old he was nearly killed in a devastating house fire that he had caused. With burns on 100% of his body he should not have survived. He tells his unimaginable story and the impact others had on him that gave him the desire to fight for his life.
We all have our challenges in life, some are a lot tougher than others. How we face those challenges and the decisions we make will direct the outcome of your life. Some just want to give up and quit rather than face their problem.
Read On Fire. O’Leary helps us to see that we can choose our path and decide the direction of our life regardless of the challenges we face.
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- He teaches that our most critical skill is envisioning and by writing down a specific goal or dream we can begin that process of seeing it in our mind as a reality.
- When we write down our goal we need to be specific with the what and why behind it. In great detail, what is our goal and why is it so important to us?
- As it is said, goals are dreams with a deadline. So we also need to add the when. When are you going to achieve this goal by?
- Write your dreams down; be vivid and very specific; give them a timeline. With this information you have taken a giant step in the process of making your dreams a realization.
- You need to constantly be reminding yourself of where you are going and keeping your focus on your destination. Life has too many distractions and this will help you to stay on your path.
- This will also trigger the subconscious mind to help you recognize the opportunities in life that cross your path that will help you to reach your target.
- Simply come up with a plan to get you started. Olson recognizes that it’s probably not the plan that will help you to get to the end, but you need a plan to start the ball rolling. Writing your plan down and reading it every day as you sit and wait for the world to serve you won’t work. You need a plan and you need to act on this plan.
- “People make the mistake that they can’t start until they have the perfect plan. There is no perfect plan.” – Jeff Olson
- Be very specific and fix in your mind exactly what you want.
- Determine exactly what you are willing to do or give to achieve this dream you desire.
- Establish a definite date by which you will achieve your goal.
- Create a definite plan and begin at once.
- Take the above information and write a clear, concise statement of what you desire, the time frame by which you will achieve it, what you intend to do and give in return to achieve such a goal, and the clear plans you intend to act upon.
- Finally, read this written statement aloud, twice daily.
Think & Grow Rich (Original 1937) Ebook & Forum Website:
As I have been spending some time studying new books and reviewing others that we have previously used in our Kodiak Mountain Stone Education Plan I have enjoyed learning new things and refreshing my mind with things I have been taught in the past. Tonight I was reviewing my notes from a book that I loved and we had used in one of our education meetings in the past, Thou Shall Prosper: Ten Commandments for Making Money, by Rabbi Daniel Lapin.
Thou Shall Prosper is a well written book giving a practical approach to making money and creating wealth based on the principles of ancient Jewish wisdom. Lapin outlines his ten commandments of making money that Jews have used for centuries to be successful in business and finance. Whatever your faith or background, you will be able to benefit from the thoughts and ideas outlined in this book. He teaches that a person’s quest for profit and wealth is inherently moral. In our world today there’s often a negative view toward people who are trying to get ahead and make money. Just try telling someone that you’re learning what it takes to be rich, to be a multi-millionaire and watch how they react. Some will be positive and supportive but many, if not most, will look at you as greedy, selfish and maybe crazy. But the fact is that you cannot make money without benefiting other people. He says, “the only real way to achieve wealth is to attend diligently to the needs of others and to conduct oneself in an honourable and trustworthy fashion.”
The Second Commandment
Extend the Network of Your Connectedness to Many People
Today I’m going to focus on The Second Commandment where Lapin teaches the importance of networking and our replationships with people. He teaches that you need to meet a lot of people from all different areas of life. He also explains that cities offer the most opportunity for making wealth. It makes sense that you have a better chance of succeeding in business or with wealth if you go to where people are. You can have the best business in town with 100% of market share, but if there are only 500 people in your town and they are your entire market, well, you see your limitations.
Our company, Kodiak Mountain Stone, is a perfect example of this for me. We started Kodiak Mountain Stone in Cardston, Alberta, Canada and continue to have our head office located there. The support we have had from the community for our business has exceeded my expectations and I’m grateful for such tremendous support. But Cardston is a community with a population under 4,000 people. To grow our company we had to extend our reach far beyond the boundaries of Cardston. When you look at some of the cities we sell in now, if we have a very small market share of that community it could be much larger than 100% market share of Cardston. You have to be where your customers are.
As you look to expand your network you will be successful if you focus more on building genuine relationships rather than looking for people that can do something for you.
“On the face of it, this book’s Second Commandment advises you to build genuine and sincere relationships with as many people as possible with no thought of reward. Beneath the surface, it informs you that, paradoxically, reward will follow in proportion to the lack of self-interest you projected while forming the relationships in the first place.”
At Kodiak Mountain Stone I’ve stressed to my team that people want to do business with other people who they like and trust. In Thou Shall Prosper we are taught that if we succeed in business it will be because people like us. Everyone has a choice who they deal with and it’s through your actions that people will decide if they want to deal with you, and your business, or not.
Thou Shall Prosper shares a great perspective on building wealth and money. Daniel Lapin shares some excellent insight on the topic. This is a great book that I would recommend reading but I would also recommend re-reading it, making notes and reviewing them often. The ideas shared in this book will help you in your business and professional lives.
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What is broke? It’s having an empty wallet, nothing in the bank account. It’s having nothing. Yes, that is right, but broke is a lot more than that because broke is also a mindset. Broke is an attitude. Broke is a spirit.
Daymond John’s book, The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage takes you through a journey where you can see entrepreneurs that have been broke financially, spiritually, mentally and in most cases all of the above. But they have figured out how to take advantage of their situation, put in the work, efforts and smarts to succeed.Daymond John is the perfect person to write this book. He could have just used his owner personal story alone to teach us The Power of Broke. Daymond went from having nothing, to building his company, FUBU, into a six billion dollar brand and then on today to be a best selling author, fashion and business guru, motivational speaker and celebrity. Many will recognize Daymond from the ABC hit show, Shark Tank. But in addition to helping us learn from his story he uses many other stories of entrepreneurs to show us how they’ve done it too.
The Power of Broke shows us how often entrepreneurs become tremendously creative when they are in their deepest state of desperation. When their backs are up against the wall and there are seemingly no options left, they figure things out. Daymond shows that in many of these stories if it were not for the deep state of desperation with no options left, they probably would not have found the creativity to find the solutions they needed. In fact, if they were not in such a broken state, if they had the money to move forward they probably wouldn’t have seen the same success they have. They wouldn’t have made decisions in the same way. They wouldn’t have been forced to be creative.
The Power of Broke is a book that I’ll add to my suggested reading list. I enjoyed learning from the stories he shared and I found it to be a source of motivation and inspiration.
One of the reasons I loved The Power of Broke is that I love to hear the success stories of entrepreneurs. I love to hear the struggles they have overcome to succeed and in this book Daymond shares some great, motivating stories. If you love stories like these too, check out our podcast, Entrepreneur Next Door. At Entrepreneur Next Door we interview the everyday entrepreneurs and share their stories. Our hope is that our podcast will help promote the businesses of our guests but more importantly will also help to inspire and motivate our listeners when they hear these great stories. If you are like me and love to hear how other entrepreneurs have done it, check us out at Entrepreneur Next Door but also make sure to grab a copy of The Power of Broke and learn from the stories Daymond tells us about.
If you’re an entrepreneur that would like to apply to be on the Entrepreneur Next Door podcast, click HERE to submit your application!