The Practical CEO

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What Is Your Definition Of Success?

September 05, 2023

What Is Your Definition Of Success? "Success isn't a result of spontaneous combustion. You must set yourself on fire." ~Arnold H. Glasow This really is a great quote. Not only is it interesting but also inspiring. One of the truths that I find most frustrating as a teacher and a coach is that many people believe that success, in whatever field of endeavor they are currently striving for, is rather like winning the lottery. In fact, it certainly seems from the evidence that they in fact believe that success is even more random because they aren't even buying a ticket. They are simply passively waiting. If you listen to people talk you won't hear many people voicing this opinion of success but look around you and watch what people are actually doing--or rather not doing--and you will quickly see what I mean. Many people want things--they want to be rich, they want to be at the top of their profession, they want a successful marriage, they want to rai...

Thinking Outside The Box

September 01, 2023

Thinking Outside The Box When innovators talk about thinking outside the box, they mean coming up with creative ways to solve problems - new ways to look at things. How do they do it? How can you do it too? We first have to ask what the "box" is. Then we can look at how to get outside of it. The "box" is the normal way of doing things and looking at things. It is the assumption that almost everyone involved is making. The best way to start thinking out of the box then, is to identify and challenge all the assumptions that make up thinking inside the box. One of the major liquor brands was faltering years ago, and they couldn't seem to boost their sales. Promotions, lowering the price, getting better shelf placement - these were the "in the box" solutions. Then someone challenged the assumptions, by asking "What if we stopped the promotions and just raised the price?" The price was raised as an experiment, and sales soon do...

Think Like an Entrepreneur

September 01, 2023

Think Like an Entrepreneur My biggest problem in becoming self-employed was me. In order to BE a self-employed person I had to start thinking like one. I found myself reverting to that nine-to-five mentality. If I wasn’t accomplishing a task every hour, then I must not really be working. Sometimes a self-employed person has to make decisions about their business. Sometimes they are just thinking about a solution to a problem. Sometimes you just have to quiet your mind so new ideas can come. Just because you’re not pounding away at the typewriter every minute doesn’t mean you’re not working. I’ve also learned that it’s okay NOT to answer the phone every time it rings. That’s what voicemail is for, and the same goes for email. At my nine-to-five job I would leave the email program open all day and answer each one as it arrived. It took me a while to realize it’s okay to only check email several times a d...

Top 7 Mastery Principles To Building A $1,000,000+ Enterprise

September 01, 2023

Top 7 Mastery Principles To Building A $1,000,000+ Enterprise Are you aware of the most powerful asset in your business? Your single most important business asset is your MIND ... more specifically, your mindset. Your business only grows as quickly as you, your mind and your thinking do. If you want to create a $1,000,000+ business, you must think like a $1,000,000+ business owner. You must in your mind’s eye already BE a $1,000,000 business owner. The seven mindset principles below are crucial to building a $1,000,000+ business. Print this list, and refer to it often. Devoting as little as 15-30 minutes per day to shifting your mindset is THE single best investment in building your $1,000,000+ enterprise. THE PRINCIPLE OF TRANSCENDENT PURPOSE Great companies and great business leaders do great things that leave a lasting legacy and make this world a better place for you and me. Such leaders create CAUSES, no...

Top Five Reasons to Establish Business Credit

September 01, 2023

Top Five Reasons to Establish Business Credit Too Many business owners are using their personal credit to finance the launch, expansion or growth of their business. A majority of business owners have no idea what business is or how to establish it. By following a few simple steps any business owner can establish business credit, therefore, separating their personal credit from their business credit. When business owners use a personal credit card to pay for business expenses, the debt of the business reports back to their personal credit reports which lowers their scores because their business debts hurt their personal debt to income ratio. To help prevent business owners from damaging their personal credit, every business owner should follow the simple steps of establishing business credit. By establishing business credit the debt of the business will report to the business credit file and not the personal credit file. Establishing business credi...

What Does It Take To Be An Entrepreneur?

September 01, 2023

What Does It Take To Be An Entrepreneur? Over the years countless institutes and individuals have asked the million dollar question. What makes an entrepreneur an entrepreneur? What traits or characteristics are inherent to a successful entrepreneur and is one born with those traits? There’s great news! Successful entrepreneurs are born every day! Some people believe an entrepreneur is born while others believe an entrepreneur can be taught. Some believe an entrepreneur is like an artist - either you have it or you don’t. Some see entrepreneurs as leaders that are focused, disciplined, competitive, and charismatic, while others see them as huge risk takers. And all of these analogies are right to some degree. It’s true all successful entrepreneurs share a few qualities and skills that allow them to be successful. These inherent qualities can be taught; but they often seem to be an inherent driving force that sends individuals down the pat...