221 The Secret Rule For Business Success

riskThe other day I heard a man talk about how his great grandfather had his own business. His grandfather and his father also had their own businesses. Now, he had his own business. Four generations of business owners, including the current generation!

You’re thinking, “What a great family tradition. I wish I had entrepreneurship in my DNA like that.” Wait a minute though. Tap the brakes.

He went on to say that none of them, including him, had experienced financial success. He summed it up by saying, “We’ve all struggled and never broken through.”

Four generations of business ownership seems impressive until you get that last little truth.

In 2012 the median income in America was $51,017. The great grandson figures he’s made more money in a single year – in hard dollars – than his father or grandfather. It was under $50,000. He’s not been able to crack the median income. Struggling with failure is a daily feeling for him. “How can you feel like you’ve broken through simply because you work for yourself?” he asks. Everybody thinks working for yourself is the road to financial and lifestyle freedom.

And it can be, but it’s not an automatic outcome.

You Must Be Willing To Risk It All

We’ve all heard that. Define all. Does “all” mean your family? Your wife? Your kids? Does “all” mean your health? Does “all” mean your convictions and beliefs? Business pundits who tell us how to achieve success may back pedal at these questions, but if ALL doesn’t include these things, then how many other things are excluded? Sounds to me like all doesn’t mean all, or even nearly all. Or does it?

Sacrifice Means Giving Up Some Things So You Can Claim More Valuable Things

I’m not telling you that success – even financial success, if we want to limit our discussion to money – hinges on risking everything. I don’t believe it. For every person who claims to have put everything at risk to make it financially I can show you others who will admit they didn’t risk much at all. Life just isn’t so cut and dried or simple. It’s very complex with more variables than I’m able to quantify.

Here’s what I do know to be true – you must be willing to sacrifice some things if you’re going to have some things of higher value. Fitness is going to require you sacrifice morning donuts, mid-afternoon soft drinks and late night pizza gorge-fests. A successful marriage is going to require self-sacrifice, not hanging with your buddies too much, not spending 80 hours a week working and tons of other sacrifices. Raising children, if you’re going to succeed, is going to demand lots of sacrifices. All kinds.

“Yes, I want all those things…and I want to be rich, too.” I’m not saying that’s impossible, but I am saying it’s improbable. It’s foolish to think you’ll buck the odds and it can happen for you. It might, but you’re likely going to be very disappointed.

If everything is important, then nothing is important.

Yes, making money is important. Yes, having a great marriage is important. Yes, raising good, well-behaved children is important. They’re all important.

Okay, then let me give you a scenario and you tell me how you’re going to handle it.

You’re youngest son is 8. He’s got a school program tonight. It’s been on your calendar for almost 2 weeks. Your wife’s family have come to town to attend. They’ve arrived in town yesterday. Your wife has made plans to go to a restaurant 2 hours before the event. That’s been on your calendar, too. The school program is at 7pm. The restaurant reservation, with the family and in-laws, is set for 5pm. At 3:45pm you get a phone call. A prospect is in town and wants to know if you’re free tonight to discuss your newest products. He knows it’s last minute and hates to impose, but he’s flying out late tonight and would love to talk about your products. He’s potentially a big customer.

What are you gonna do? Which of these is important? I know they all are, but you have to sacrifice something.

Will you:

  1. Sacrifice the family dinner?
  2. Sacrifice the school event?
  3. Sacrifice the business prospect?

These are real world scenarios that many of us face.

In business, if you selected 1 and 2, then congratulations – you’re on the road to financial success. Maybe. There’s no guarantee.

The prospect may spend the evening listening to you, asking you questions and flying home only to have second thoughts and deny you the purchase order. Or, he may go home and write you a million dollar order. Can you risk that?

One dinner missed. One school function missed. That’s not going to wreck anybody’s home. True enough, but we both know it’s not just this one time. It’s priorities and it’s vexing to have to wrestle with these, but it’s how our real lives work. And many of us make a choice one time, then a different choice the next time and we end up wrecked all the way around.

We all know of too many people – maybe it’s US – who tried to have it all only to realize they couldn’t have any of it. Lost their family. Lost their kids. Lost their business or financial success.

Well rounded people aren’t at the top of the hill in financial success. So don’t start shouting that you want to be well-rounded unless you really mean it.

Here’s The Secret Rule: There Are No Rules And There Are No Formulas

We love to focus on outliers. We also love to think we’ll be one of them. It’s just highly unlikely. Just look at the barometer of money, income. Only 3.9% of American’s earn $200,000 a year or more. That means 96.1% of the American population is earning less than that. 80% of Americans earn less than $100,000 a year. Do you still think anybody – or everybody – can make $200,000 a year? They can’t. They won’t. And there’s tons of reasons or explanations on why. The numbers don’t lie. We do. To ourselves.

Can a person be wealthy, have a successful marriage and raise good kids? Of course they can. But again, the odds aren’t favorable. As I type this up we’re experiencing severe weather in Dallas. Some homes have been destroyed. Power is out in some major parts of the city. We’ve had tornado warnings. Tornados are like success in some ways. They’re random. Yes, the atmosphere can produce conditions that enhance the possibility, but that doesn’t mean we’ll get a tornado. Just like financial success, there are no guarantees.

We want guarantees. At least we want a guarantee that there’s a chance. And we’d like it to be a good chance! We want a formula to follow like a cookie recipe. Insert these ingredients, at these quantities, during this point in the process and presto! Success. But there are no formulas or recipes. And there are no rules.

I’m not saying we roam the earth subject 100% to random chance. I’m not saying we shouldn’t assume responsibility for our outcomes. Fact is, I’m fond of the saying I first heard from Jack Welch during his days running GE, “Control your own destiny or somebody else will.” I believe in doing all you can to give yourself the best opportunity, but that doesn’t mean you’ll ever break through. You still may fail. But it beats the alternative to just sit around hoping lightning will strike.

Figuring Out What Matters Most Is Often Harder Than We Imagined

Here’s the reason we can’t make success a formula, recipe or secret. It’s individual. It’s based on our own exploration and discovery. It’s based on our own values, ambitions, skills, talents, connections, choices and behaviors. You have to find your own way. I hope to just supply you a bit of help along the way.

 

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FTV001 He Endured 4 Years Of Solitary Confinement In A POW Camp…What Can YOU Endure To Achieve Your Success?

I had shoulder surgery on Monday so this week I’m a bit out of commission. I’m sure you understand. This podcast is from the vault of Leaning Toward Wisdom, dated March 28, 2014. Leaning Toward Wisdom is another podcast I produce. This episode, FTV (from the vault) is the first of these episodes I’m going to share here. This show is about resilience. I hope you enjoy it. 

JEREMIAH DENTON POW
Using morse code, he blinked, “TORTURE.”

Jeremiah Denton was a Viet Nam war veteran. He died this morning. He was 89. Sadly, I had never heard of him until I was reading about him in the news following his death.

Denton was a US Navy flyer shot down in July 1965. The North Vietnamese army captured him. He suffered as a POW under horrible conditions, including the famed “Hanoi Hilton.” He was held captive for 7-1/2 years! In his book, When Hell Was In Session, he wrote…

In the early morning hours, I prayed that I could keep my sanity until they released me. I couldn’t even give in to their demands, because there were none. It was pure revenge.”

Denton suffered torture. In 1966 his captors taped a propaganda interview with him. During the interview he used Morse code to blink the word T-O-R-T-U-R-E. That alerted the U.S. intelligence community that American soldiers weren’t being held under the conventional rules governing POW’s.

As if being in imprisoned wasn’t enough, he was also isolated in solitary confinement for 4 of those years. Daily beatings. Horrid conditions. Now, isolated.

How does a person survive such treatment without giving up? It’s too trite to say, “You gotta do what you gotta do.” But I don’t have a good explanation because I don’t fully understand the difference in people. We vary in our ability to withstand pain and difficulties. We vary in our tolerance for pain, too.

We are too soft!

We sometimes let the smallest bumps in the road throw us into the ditch. Worse yet, we sometimes can’t find our ways out of ditch…all because of one little bump.

Question: Are you committed to failure?

That may explain why your pain level is so low…too low to achieve success.

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Open Mumford Procedure On My Right Shoulder And I Still Can’t Play The Mandolin

http://bulanetwork.com/my-temporary-strategic-withdrawal-as-my-lifelong-best-friend-lay-dying/
Mumford & Sons have no orthopedic expertise that I know of.

I had surgery on my right shoulder yesterday. See, I don’t always intentionally bury the lead. Pain killers are likely responsible though so don’t get used to it, Jon Buscall. 😉

I had a severe shoulder episode back in February that sent me to the emergency room of a local hospital. Pain like I’ve never had before. Well, after multiple visits to the orthopedic surgeon…and after meeting  the ridiculously high insurance deductible imposed on most self employed people, he quickly agreed to fix it by “going in there and cleaning things up.” I didn’t know what that meant, but it sounded good to me.

Years ago Dr. Bonnetthe man who gave me scars – had described an elbow surgery as “going in there and cleaning out all that elbow snot.” I miss Dr. Bonnet. He was a frenetic, high energy, funny guy who was also very good at his craft. Sadly, he got cancer and passed some years ago. Enter a younger replacement this year – based on a recommendation I was given – Dr. Tsay.

Odd pain killer thought: Dr. Tsay’s first name is Bing. Stanley Bing is one of favorite authors. Stanley was my best friend. These are the insights that only pain killers can provide.

We scheduled the surgery for Monday, May 12th. In spite of it being the anniversary of the death of my best friend Stanley, I went ahead because of that “sooner than later” mentality I have. Besides, I know you’re thinking, “Enough already. Take your own advice and ‘build a bridge and get over it.'” And that’s fair really. Mostly, I have, but I get melancholy every now and again. It’s how I roll.

So we arrive at the medical facility where this surgery will happen. You likely know the kind of place if you live in a metro area in America like I do. It’s a fancy out patient surgical center that is part of Baylor Medical. Surgery was scheduled for 12:30pm and I was told to arrive by 10:30am because Dr. Tsay often runs ahead of schedule. We pulled in at 10:17am proving I was anxious to get this show on the road.

The theme song for the morning – and into early afternoon – was Tom Petty’s “The Waiting.”

The waiting is the hardest part.”

Enroute Rhonda asked if I was anxious about it. I said no, except for the waiting.

At some point the nurse came in and asked if I was having “the open Mumford procedure?” Duh. I told her I just knew I was having my right shoulder fixed. She said that was the official name of the surgery, named after the doctor who invented it. I joked about Mumford & Sons and wondered if I might at along last be able to play the mandolin, or some other stringed instrument.

I watched the clock on the wall and glanced at the closed captioning on the TV without much success. No food. No water. No mints, gum or anything in your mouth since midnight the night before. Thus my major headache was in full swing now that we were well past noon.

One o’clock approached and we were finally getting underway.

The anesthesiologist was a terrific guy who explained he was going to inject me in the neck for a pain blocker that would stave off the pain for a day or so after the surgery. Smiling, he said it could result in a red right eye (my right eye was already red from my raging headache), drooping of the right side of my face, numbness of my right ear, numbness of my right arm, etc. “Sounds delightful,” I thought. I agreed to anything. I just said, “Let’s get this show on the roll.”

Well, that injection in the neck hurt like crazy and took about 5 minutes, but it’s the last thing I remember until I woke up with an oxygen mask on with a nurse sitting beside me. Hello, recovery room!

Enter BIG thunderstorms! Power flickered off for a moment.

We stayed about 30 minutes longer so the storms could pass and we wouldn’t have to drive in them. And by 4:45pm we were home. And feeling fine except for my inability to lift or move my right arm. It’s now been over 18 hours since we got home and as you can see, I’m able to use it to type. The numbness is slowly wearing off. I just took my first pain pill. Don’t really need it yet, but I learned years ago that if you wait until you need it – game over. Pain will kick your butt and never let you get ahead of it if you ever fall behind. It’s like an unmerciful opponent that’s already winning by a wide margin, but just keeps on scoring!

I’m not expecting recovery to be too big an ordeal. Which probably means it’ll be far worse. I’m on a roll lately of unpleasant surprises. I don’t seem to be attracting good surprises these days. I need to fix that. If you have ideas on how to do that, I’m all ears. Well, I’m all ears now that I have feeling back in my right ear. That occurred around 2am this morning.

Tomorrow I’m releasing a podcast episode from Leaning Toward Wisdom that I think you’ll enjoy. Look for it tomorrow morning right here at Bula Network. I hope you’ll give it a listen and let me know what you think. But what I really would like from you this week – as a get well gift to me – is a review in iTunes. I know it’s a hassle, but it would genuinely make me feel better (far be it from me to NOT play on your sympathies while I’m here writhing in pain).

OFFER – Write a review, then email me at Results [at] BulaNetwork [dot] com with the subject line, REVIEW and I will personally send you a “thank you.” I may even include a picture of my incision or something gross like that so you don’t think I’m pulling the wool over your eyes about all this.

Get back to work. It’s only Tuesday and you’ve got sales to make, products to create, services to render, people to lead, work to manage. Let me know how I can help you. Even on pain killers I’m pretty remarkable!

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220 Hustling Means Selling: You Gotta Deliver!

you-have-to-deliver

The United States Postal Service (USPS) has the motto, “We Deliver For You.”

You can’t outsource results in your career. Nobody can deliver for you. It’s all up to you.

Time is the single biggest component of delivery. Fail to get it there on time and you’re toast. It’s not enough to get it there. It’s not enough to get it there in one piece. Those are assumed outcomes.

But time also involves timing. You’ve got to deliver on time and you’ve got to hit at the right moment.

Hustling Demands Speed, But That’s Not All.

Faster is better. Sooner is better than later. The very term “hustle” denotes speed. But sometimes people feel like they’re hustling when they’re creeping along.

It’s the common malady of confusing motion with meaningful action. There’s only one area of my life where that’s profitable: the treadmill. I can do 4 miles a day on a treadmill and it helps my health. It doesn’t take me 4 miles down any other road though.

Fast doesn’t mean reckless. Or ill-planned. Or knee-jerk. Or seat-of-the-pants.

It means taking the next step now. And it means being comfortable knowing that you don’t have complete knowledge or insight.

The Marines talk about a 70% rule where in the field, armed with 70% information, troops make the best decision possible without delay. They know success is more likely using that formula than it is if they wait for more information.

In fact, Louis C.K. talked about the same thing in an upcoming GQ interview.

These situations where I can’t make a choice because I’m too busy trying to envision the perfect one—that false perfectionism traps you in this painful ambivalence: If I do this, then that other thing I could have done becomes attractive. But if I go and choose the other one, the same thing happens again. It’s part of our consumer culture. People do this trying to get a DVD player or a service provider, but it also bleeds into big decisions. So my rule is that if you have someone or something that gets 70 percent approval, you just do it. ‘Cause here’s what happens. The fact that other options go away immediately brings your choice to 80. Because the pain of deciding is over.

“And,” he continues, “when you get to 80 percent, you work. You apply your knowledge, and that gets you to 85 percent! And the thing itself, especially if it’s a human being, will always reveal itself—100 percent of the time!—to be more than you thought. And that will get you to 90 percent. After that, you’re stuck at 90, but who the (bleep) do you think you are, a god? You got to 90 percent? It’s incredible!”

How often do you find yourself completely stumped about what to do next? Sure, it happens, but most often don’t you know what you should do?

  • Make a phone call. And you know who you should call.
  • Go see somebody. And you know who that is.
  • Write something, read something, research something or do something. And you know what it is.

It’s just one thing, but it’s the next one thing…not the next 10 things.

Hustling Is Selling

Are you a creative? Don’t confuse creating with hustling. You’ve got to be busy creating your art, but that’s not hustling. That’s being creative. Hustling involves money. Whether you need a patron or a customer, you’ve got to hustle.

Are you a business person? Then I don’t have to explain it to you.

We all need people who will fund us. We need money. Without it we can’t keep doing whatever it is we want to do. Paying customers don’t merely provide affirmation that we’re on the right track, they let us stay on the track so we can keep moving.

You gotta hustle! You gotta keep hustling!

For some (maybe for many) selling can be the hardest work possible. After 41 years of doing it, I’ve wrestled with just about every imaginable selling problem.

  • Call reluctance
  • Fear
  • Timidity
  • Not wanting to be “that guy” who always self promotes

People claim these problems stem from our personal history, our point of view, our personal philosophy and our personality quirks. Maybe. Maybe not.

Me? I think they stem from more basic and fundamental problems like idiocy.

I’ve known stellar salespeople who could sell (or attempt to sell) just about anything. I’m not that guy. I’m certainly not a “sell ice to eskimos” kind of sales guy.

And I’m not a master closer. You know the ones, don’t you? They can pitch like nobody’s business, but their real skill in compelling or coercing you to say, “Yes.” Even when you don’t want to. They don’t care if you have remorse after the fact. Too late, they’ve made the sell and extracting a refund is nearly impossible and hardly worth the trouble. But these sales animals are creatures built very differently than the rest of us.

Sadly, you may be tempted to think that there’s only one way to sell – the way you hate most! WRONG.

You have to be true to yourself. Sharks recognize posers. Don’t try to be a shark…unless of course, you are a shark. It’s okay. We’ll all know you by your fin and sharp teeth. And the fact that you’re swimming alone!

Here’s the deal. For every person who says you CAN’T sell like that…I’ll show you somebody wildly successfully doing it exactly like that.

“You can’t pitch all the time.” Sure you can. I know people who do it all day, every day. And make lots of money doing it. They eat, drink and sleep selling themselves and whatever that involves (real estate, insurance, stocks, financial services, etc.).

“You can’t bug people into buying.” Oh yes you can. I also know people who bother the snot out of people until they either hack them off, or make the sale. Either way, they feel like they won. And for them, that’s the point. They just have to work as fast and hard as possible to get a YES or a NO. If YES, they celebrate, but only briefly. If NO, they quickly move on.

“You can’t make it all about yourself.” Yes you can. Plenty of people do. Some don’t even hide it. Others try to feign caring about others, but in time it’s obviously not genuine. Self-centered, ego maniacs are running rampant in sales circles because some of them have figured out how to make it work for them.

Pick the most despicable selling behavior and I bet I know somebody making a handsome living doing it exactly the way you think it cannot possibly be done. And that’s a problem. For all the rest of us, in overcoming our adversities to be more effective in selling.

We’re repulsed by the notion of hustling or selling. It seems sordid, seedy and something we’d just rather not be associated with. But if we ignore it, we’ll fail. If we neglect to figure it out, we’ll join the vast ranks of people whose great idea never saw daylight because nobody funded it, nobody supported it with purchases and it faded into oblivion.

All for the lack of a paying customer!

Today’s show has one big aim – to help you flip your mental switch in favor of the single biggest activity that will drive your financial success, SELLING. This includes career folks who want to move up the ranks. It includes creatives who need patrons and customers to buy their art. It includes attorneys who need to persuade prospects to hire them. It includes doctors who need to establish referral networks. I don’t care who you are or what you do, selling is still critical for your success. If you’re failing, it’s highly possible that a big reason is because you’re neglecting this major daily activity.

Why?

  • Laziness
  • Don’t want to sacrifice anything
  • Stupidity

I’ve heard tons of people make this excuse: “I’m just not passionate about selling.” They’re nuts. They’re also wrong!

Oh, I know some people want to chase their passion. Well, behave like a dog chasing a car if you’d like, but that’s not what I do, or what I help clients do.

Doing the work requires doing stuff you don’t always enjoy. And you’d better work hard and be good at it. Else, you won’t find success. You have to hustle as though your livelihood depended on it…because it does.

Stop looking for the elusive definition of “successful” because it changes for all of us. Instead, focus on making yourself a success by doing good work really well.

If Mark Cuban netted $100K a month he’d be suicidal. If he made $1 million a month he’d still be suicidal. At the altitude where he’s now accustomed to flying, financial success is measured in 100’s of million of dollars annually. Anything less is disappointing. Cuban is always hustling because he’s now a whale and it takes a lot to feed a whale. His hustle has to match his needs, ambitions and desires.

The point isn’t to compare yourself to Cuban, or anybody else. The point is you do have to hustle to match your needs, ambitions and desires. The world won’t deliver any of those to you. Stop waiting for the truck to pull up to your office or house.

YOU gotta deliver the results you need to make your enterprise succeed. YOU gotta deliver to get what your family needs to survive and thrive. YOU gotta deliver if you’re going to fulfill your ambitions.

So here’s what you gotta do:

  1. Give up excuses! All of them. Take responsibility.
  2. Stop procrastinating. It’s never worked for you. It never will.
  3. Be more fearful of letting down your family and your potential than in hustling. Don’t your loved ones deserve your best? So do your prospects and customers!
  4. Sacrifice, sacrifice, sacrifice. You can’t have it all, but you don’t want it all anyway. You’ve just been listening to all the noise telling you you do, and that you can. It’s a lie.
  5. Chase what’s important to you. You have to get the things you need first. That’s money. You need paying customers because you need money to live and to make your other dreams come true. Money is a resource you need, so go get what you need and don’t stop until you get it.
  6. Build a bridge over disappointments and setbacks and stay focused on hustling. A closed door, or a rejection is the price you have to pay for winning. Embrace it and get past the losses fast!
  7. Own it. Own your outcome. Own your actions. YOU gotta deliver!

Thanks for listening!

 

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