How to do less and make more in 2017 How was your year? I hope it was FANTASTIC, and if not, I wish you strength, luck, and momentum to charge forwards into 2017 and beyond. I want you to know that, in 2017, you can do less and make more. How the heck can you do less and make more? That’s what I want to outline for you here today, because that actually was my plan in 2016 and it turned out spectacularly well, so I’m going to be repeating it again in 2017. Here’s how this post came about: Just last week we flew in our two executive assistants; Summer, who helps me run my business, and Carrie, who helps my wife, Amy, run our charity. What Summer, Carrie, Amy and I did was we mapped out all of 2017. In fact, we even mapped out some of 2018. I HIGHLY recommend you do the same, if you haven’t already. I’ll give you some tips about how to do this efficiently. Planning an entire year can be overwhelming, so when you are planning your year, I want you to break it down into three areas of focus: Number one, you’ve got to get clear on your PRIORITIES. I know that that sounds obvious, but it’s SO important. This means getting clear on people and projects that are most important to you, as well as getting clear on the LIFESTYLE you want to live. For me, obviously my amazing wife, my incredible kids, my team, my sister, my parents, my friends and business partners – they are all a huge priority to me. What can I say? I’m a people person! I bring this to your attention because, when people are a priority to you, you’ve got to be INTENTIONAL about incorporating them into your planning process. Next, it’s extremely important to decide which projects are your highest priority. For example, last year I had just one project that was the highest priority for me. This allowed me to engineer the entire year around that one project, which allowed me to be uber creative. After people and projects comes lifestyle. Outside of your business, what aspirations do you have? For example, in 2017 I really want to exercise my creativity in some new and different ways. Playing guitar is one. Doodling is another – I know it kind of sounds funny and weird – but doodling and calligraphy is another thing that I really want to do. I’d also like to learn Swahili, because in Kenya where our charity operates, the kids speak Swahili, and I want to be able to interact and engage with them. I want to be fluid so when kids are talking back and forth, I can just jump into the conversation and blow their minds. Number two, get clear on your PRIMARY FOCUS. You’ve got to have a primary focus. Everything else you do falls around this one thing. This relates to prioritizing your projects in step #1. Your primary focus combines the project you chose as a top priority, and the outcome you’d like to see from that project. It’s your guiding light throughout the year. Here’s an example: one of my clients, Mastin Kip, is an incredible speaker and author. His primary focus is releasing his new book in the fall of 2017, so we are engineering the entire year around that focus. Other things are going to come up, of course, but the primary focus is getting that book to top of the New York Times Bestseller list. Let your primary focus be the most important, most ambitious accomplishment you’d like to achieve, and then give it the attention and resources it needs to come true. Number three is to identify your BIG ROCKS And start mapping them out on the calendar. That’s exactly what I did with Summer, Carrie, and Amy when we planned our year. We first started with our big rocks. What are our big rocks? When you’re mapping out your calendar, these are the most important events and deadlines in your year. Some are deadlines that you set for yourself, and others aren’t so flexible, but they are all important. For example, last year my family vacations got tacked onto business or charity trips. If I was going to speak at a conference, I would take the family, and we would spend a few days after the conference exploring that location. This year we decided to let family trips be family trips, so those were the first big rocks we added to our calendar. The next big rocks we added were dates that are already set. For example, next year we’ve got a big trip for our charity where we’re taking 50-60 of our top donors over to Kenya to see the schools they helped build. There’s also conferences that I’ve committed to speak at, mastermind groups that I’m a part of, and so on. It’s important that your big rocks get laid out on the calendar. Because too often as entrepreneurs, we end up taking on more than we can handle because we get so excited about opportunities. You and I have to concentrate our efforts, because if we try to do too much in 2017, we’re going to do a whole bunch of things in a half-assed way. But if we focus on a few big rocks, and we pour all of our creative energy into those things, we will experience a lot more success. When I talk about the big rocks, here’s what I would encourage you to do: Think about one big promotion that you’re able to do every quarter. One big promotion every four months. Everything else gets filtered around those four promotions. And if you can do less than four, that’s even better. In summary: For you and I to make 2017 a spectacular year, here’s what I recommend: Number one, get clear on your PRIORITIES. When I say priorities, I’m talking about people, projects, and lifestyle. Second, get clear on your PRIMARY FOCUS and engineer your entire year around that. Number three, map out your big rocks. What I recommend for my clients is four big promos per year, one per quarter. Everything else gets filtered around those big rocks. Your turn: What are you going to do to make 2017 your best year ever?
Entrepreneurs… guard your confidence! As an entrepreneur, it is CRITICAL for you to guard your confidence. You’re doing things that most people don’t do. You’re out blazing new trails and going places that most people aren’t willing to go. When you’re experimenting with new ideas and trying new things, there are always going to be CRITICS and people who will try to bring you down. Because guess what? It’s easier for people to bring you down than to raise their game up to your level. When you are an entrepreneur, you have to guard your confidence. I’m going to give you three tips on how to do this. But, before I do, let me just share how this all came about: Recently, my wife and I were having dinner with some friends. One of our friends, knowing that I was preparing for my own product launch, asked a question: “What do you think about doing your own launch versus all the launches that you’ve done for somebody else? Do you feel any difference?” I was like, “Heck yeah, I do.” Because I’ve been behind the scenes helping strategize and develop launches for many, many people. For example, during the last year of my partnership with Michael Hyatt, we did four seven figure launches throughout the year. It was a huge year, but doing a launch for somebody else is totally different than doing it for yourself, and here’s why: When you do it for yourself, there is a ton of mental baggage. What do I mean by mental baggage? I’m talking about self-doubt and limiting beliefs and all that fun stuff. There’s all kinds of mental baggage that we carry when it’s our own product, our own course, our own membership, our own launch, whatever it is. We have to guard our confidence because, if we don’t, it’s very, very easy to get derailed. When you’re trying new things, you’re going to have people who cast all kinds of doubts. You’re going to have people who throw sticks and stones as a way of projecting their OWN mental baggage. I’ve released several videos sharing my views on business and entrepreneurship, and recently somebody left a comment. He wrote: “I didn’t even watch the video to know that this is nothing more than a travel blogger who comes from a rich wealthy background and that’s why they’re able to do what they’re doing.” I was like what? Dude, obviously you didn’t watch the video because (a) I’m not a travel blogger (b) I definitely did not come from a wealthy background. Everything I’ve created, I earned, and it’s because I had great people around me who supported and believed in me, but I started everything from scratch. His comment annoyed me, and I had to remind myself that comments like this happen all the time. When you are sharing a message, product or service with the world, haters and trolls are absolutely inevitable. It’s not your job to combat the trolls. All you need to worry about is guarding your confidence. Here are three ways to do it: 1) Have a clear strategy. When you have a clear strategy, it is very hard for you to get derailed because you know exactly what your next steps are. I see entrepreneurs who stumble because they don’t know what it is that they’re going to be doing next or they don’t have a clear strategy and what happens is that when somebody casts a little bit of doubt their way, they second guess themselves and then they backtrack and then now they’re completely off the rails. Get clear on your strategy so can focus on simply executing. 2) Have supportive voices in your life. Being an entrepreneur isn’t easy. You’re going to have your ups and our downs, and when you have your downs, you need people who can bring you right back up. There are two sides to this coin: One, seek out those supportive voices. Look to family, friends, mentors, mastermind partners – whoever – who can help coach you and support you and encourage you. And be that supportive voice for others! Don’t just vocalize but demonstrate your support by taking ACTION. This doesn’t need to be a huge gesture. Just reaching out to show your support is enough. In fact, when I’m finished here on my way home, there’s somebody that I’m going to send a voice message to because I just listened to their podcast and it was amazing. Supportive voices are incredibly important. Seek them. Be one. 3) Know your “why?” As in, why did you become an entrepreneur in the first place? Why did you start your business? When you are super clear on your why, that’s like the guiding star that keeps you focused. When I first started out, my why was simple: to provide a better life for myself and my family. But as I started experiencing some success and discovering the impact my business could have, I found another why. My wife and I started a charity where we build schools in Kenya. At the time of writing this, we’ve built eight schools, and two are currently in construction. So the more money I make, the more I can contribute to that project, and that motivates me daily. When you get clear on your why, people can say what they want and they can try to derail you, but none of that matters because you have complete confidence in the path you’re on. Summary: Have a clear strategy. Have supportive voices (and be a supportive voice, too). Know your “why?” It’s not easy being an entrepreneur. But you and I, we’re the ones making things happen. Entrepreneurs have the power to change the world and that’s why I love and believe in entrepreneurship so much. Keep your confidence up. The world will thank you for it. Your turn: What do you do to guard your confidence? Let me know in the comments below.
“How do I choose which market to enter?” “How do I choose which market to enter?” Someone recently asked me this question, and it’s a GREAT question. This person already has an audience in one market, but it’s not a market that they are especially passionate about. On the other hand, they are extremely passionate about a different market, but they aren’t yet established in that market. Which market should this person choose? The one that they have authority in? Or the one that excites them? This is what I told them (click to watch the video, or read the summary below): When I’m evaluating markets that I would personally like to enter, there are FOUR main things that I consider: 1) Is this a market that I would actually enjoy working with? Is this a subject that lights me up? Is this a topic that I want to spend a lot of time dealing with? Will this market energize me? Am I really passionate about this? It might not always feel this way, but there are SO many ways out there to make money. With the amount of time and energy you need to put into your business, it honestly doesn’t make sense to put all of that effort into something that doesn’t ignite your interest. This is the most important thing that I consider. If the answer is YES, I move on to the next question. If the answer is NO, I stop right here. 2) Does this market have a clear problem or challenge? If they don’t, they probably aren’t seeking a solution. And you and I are in the problem solving business, so if it’s not clear that the market has a challenge or a problem that they are looking to overcome, it will be difficult to offer a product or a service that this market will be interested in. Is there a gap between where this market is and where it wants to be? Can you help them bridge that gap? It’s a lot more work to first educate a market about the problem they supposedly need to solve before showing them your solution. If the answer to this question is NO, once again, I stop right here. If this answer is YES, I move on to question 3. 3) Am I positioned to help serve this market? Do I have knowledge, authority or experience in this market? If the answer is no, I ask myself, is there somebody who I can work with that IS positioned to serve this market? Could I connect and partner with somebody who is positioned to serve this market? This can be a matter of relationships, research, and outreach. If the answer to both of these questions is NO, I stop here. If the answer to at least one of these questions is YES, I move on. 4) Is there enough market potential? Does this market have room for growth? Is there space to build and scale a business in this market? We’re not always trying to build a HUGE business. Sometimes a small business can be the best fit for you and your market. For example, my charity World Teacher Aid has a very small team, only 4 members… and we know all of our donors personally! And yet we’re able to achieve all of our goals and more every year, so growing our team could actually become an obstacle in the way of doing what we’re doing now. If the market is just too small or too niche to give you room to grow, you need to think about this: can you leverage the momentum from your entry point to grow into something bigger? For example, the entrepreneurial market is very crowded and competitive, so when I started at the beginning of this year to build my personal brand in this market, I followed a simple rule: become known for something specific. In my case, it’s helping experts transform their businesses using the membership model. Becoming known for something specific is the fastest way to grow when you are new in a market, and it gives you the potential to leverage that momentum later when you want to expand your market presence. Once again, here are the four questions I ask myself to determine if a market is a good fit: 1) Personal interest – am I really passionate about this? 2) Does the market have a defined problem or challenge, or something specific they would like to accomplish? 3) Is there a market fit? Do I have the expertise to serve this market? Do I know somebody who I can partner with that does? 4) Is there room for growth? Is there enough potential in this market to support my business? Once you get clear on how you define these things, it becomes much easier to decide which opportunities are the right ones for you. Where entrepreneurs get stuck is when they don’t know how to move forward, because they don’t have a clearly defined criterion for deciding what they want, both personally and in their business. Oftentimes we get conflicted, like there’s this market over here with a tonne of potential and we could make a lot of money serving that market, but we’re not passionate about it. And then there’s this other market that lights us up, but it’s small and we’re not sure if we could make money doing it. I’m telling you from experience, 99% of the time the small market that interests you is the one that will work. I’ve known so many people running outstanding business in tiny, obscure niches because they are passionate about what they do. And when you commit this much time to your business, it matters. Your turn: What factors do you consider when deciding to enter a market? How do you decide if a business opportunity is a good fit for you?
I Decided To Sell My Business This feels strange to say, but here goes… I decided to sell my software business, WishList Products and Rhino Support. What makes this even more strange is that… There was absolutely nothing wrong with the business or the people I was in business with. In fact, I love my business partners, I love our team and I love our customers. Plus, I’m ridiculously proud of what we have created with WishList Member. Our membership plugin now powers over 54,000+ online communities and membership sites. So if everything is going well, why would I sell it? There are four reasons and I detail each of them in this post. Continue reading “I Decided To Sell My Business”
Make This Your Best Year Ever How will the next 12 months be better than your previous 12? For a long time, I didn’t know how to answer that question. By default, my thinking usually went to “well I’ll just do more of what worked and less of what didn’t”. Sounds logical right? Wrong. “Eventually, every entrepreneur learns that “more” doesn’t necessarily mean “better” ~ @StuMcLaren More, more, more quickly leads to burnout – and that’s not going to create a better year. So what do you do? You need to have a process for getting clear on what you really want. If you don’t, you’ll drift. However, if you’re clear (and you have a plan), you’ll make massive progress. Below you’ll find the four stages my wife and I go through every year during our planning process. Once we are clear, we then craft a yearly plan which keeps us on track as we work to get closer and closer to the life of our dreams. Continue reading “Make This Your Best Year Ever”
10 Things I’m Grateful For What are you grateful for? My friend Marie Forleo asked that question in a recent blog post and I left my “Top 10” things in the comments – and thought I’d share it with you as well. (mine definitely reflects little and big things given where I’m at in my life right now) Continue reading “10 Things I’m Grateful For”
What To Do When You Don’t Know What To Do When I started my entrepreneurial career, I really didn’t know what I was going to do. All my friends were graduating and moving onto corporate jobs. It was the logical next step. So I did the same. I vividly remember signing that employment contract with a well known company here in Canada. The pay was good, it came with great benefits and there was plenty of opportunity to move up within the organization. But something didn’t “feel” right. You know the gut instinct I’m talking about right? On paper everything looks good but there’s “something” that you just can’t put your finger on. It just doesn’t feel right. For some reason I listened to that feeling and made a dramatic decision that forever changed the course of my life. But it all started with one small step. Continue reading “What To Do When You Don’t Know What To Do”
I’m Pissed Off, Fired Up And Need To Rant… I’ve rewritten this post several times now (blush). So here we go again (this time removing names of the guilty). Before you read it just note that I think there is a real “divide” happening in the business world – and as time goes on, I’m finding myself clearly on one side of the fence. I’m curious to know what you think so please share your comments afterwards. Continue reading “I’m Pissed Off, Fired Up And Need To Rant…”