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18 Lessons We Can All Learn From The TV Show “Entourage”

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Entourage Business Lessons

Entourage, an HBO TV series that ran from 2004-2011, is an American show that focuses on the up-and-coming life of a movie star in Hollywood. Entourage gained popularity for featuring a new celebrity in each episode and for providing a detailed insight on the day-to-day lives of actors, their managers, and agents.

Among the main characters in the show are Ari, Vince, Turtle, Drama, and E. In each series, the characters face new challenges, are granted new opportunities, and have their friendships tested.  Based on the characters decisions and actions, viewers are able to take away many business lessons that they can apply to their daily lives while on the journey of reaching success.

After watching every episode numerous times, I have gained the following 18 business lessons that I feel we can all apply at some point in our lives.

 

1. The company you keep will make or break you in the end

Indirectly; this is what the show is all about. It’s called “Entourage” and is centered around one star and his closest group of friends. Although some work harder than others, they all have the same goal and never let Vince (the star) get off track. They split daily responsibilities, and ensure Vince’s confidence and image remains high.

In season 3, childhood friend Dom was released from prison in New York and immediately tracked down the boys in an attempt to join their Entourage. Although he tried his hardest to fit in, ultimately, he didn’t have the same goals and affected Vince’s career with negative light. It didn’t take long until they split.

 

2. Think big

Although Turtle didn’t show his entrepreneurial side until later in the show, he always thought big. Whether it was a party, or a new house for the boys – Turtle always looked at the big picture. This later translated into his business mindset. When he had a venture, he didn’t want to be a local company, he wanted to be worldwide. In countless scenes he would call celebrities for financial help and aid in getting the product in markets he had no connections to. He even used Vince’s likeness to negotiate his way into deals.

We all start somewhere with one goal in mind: grow! Never put limitations on your success, if you can dream it, you can achieve it.

 

3. Hire the right people

Vince was ‘rolling in the cash’ and had enough money to hire a variety of professionals. However, he hired the best of the best because he didn’t waste his money on employees he didn’t need. His 4 basics were an agent, an accountant, a publicist, and a manager. He had his friend Turtle do the driving, and Drama do the cooking.

The lesson here is to spend your money to control costs. All successful people watch their expenditures down to each dollar.

 

4. Don’t let materialistic pleasures get to your head

Early in the series, Vinny really wanted to pursue a movie against his agent’s recommendations. Ari was pushing a movie that was backed by a studio and a heavy pay cheque. Vince had enough and headed for the door; just before exiting he said

“I came from nothing, and as much as I love all the toys, I really don’t need them.”

The statement really portrays the difference between materialistic people and goal oriented. Vince knew what he wanted and he wasn’t going to get sidetracked by some extra cash.

 

5. Get back up after defeat

The success of Aquaman took Vince straight to the top of Hollywood. Feeling good, he pursued ‘Medellin’ which bombed at the film festival and didn’t even make it to theatres. His career hit an ultimate low. No directors wanted to work with him and no studios were interested in hiring him. The rejection was new for Vince, but he fought back. He battled his way onto his feet by taking second lead roles, something no star actors like to do due to their egos. Small sacrifices not only got him back on his feet, but had him standing tall once again ready to reach new heights.

In business, you will fall. In fact, you may fall several times. But it’s how you respond to the fall that will define you. If you can look adversity in the eye and get back up, you and your business will strive through any problems you encounter along the journey to success.

 

6. Remember your roots

Successful people typically hide, or never speak about where they came from. They’re too caught up with their current image that they think their past will define them.

Vince operates oppositely. He knows exactly where he came from, and he’s proud of it. He went from having little to having a lot, but still remains humble. Success is defined by how far you get from your starting point.

When you reach the top, appreciate your success by looking at the distance you traveled to get there. It will boost your confidence and give you a reason to reward yourself.

Entrourage Final Season

 

7. Dress well

If anyone dressed well on the show, it was Ari. Although it may be uncomfortable at times, it really does make a difference. Think about it, would you want to go into business with someone who thinks sharp but dresses like a teenager? When you look good, you feel good. People take you more seriously and it boosts your confidence.

Someone who adopted this change was Turtle. Early on he would wear clothes 3 sizes too big and due to that no one would really look at him, or take him seriously. However, when he later started to get his life together, he lost all his excess weight and began to dress presentable. By the very last episode, he too reached success.

 

8. Remind your family you love them

Ari, the super agent, is always on the go. From early on in the series it’s clear his wife doesn’t appreciate it. By the end of the 8 series, she’s had enough and is prepared to leave him – but it’s what Ari did throughout the series that sticks out. Literally every scene of Ari and his family included Ari telling one, or all of them, how much he loves them. It’s clear he didn’t get to spend as much time with them as he would like, but he always expressed his love.

Often when we’re working around the clock to build our dream, we neglect our loved ones. We get so caught up in reaching success, we fail with our relationships.

It’s important to put sweat, blood, and tears into your goals, but take time out for your loved ones. They’ll be happier with you and aid you with motivation.

 

9. Don’t stop the hustle – diversify

When Vince’s career picked up, he stepped outside of acting to diversify the Vincent Chase brand. He sang at birthday parties, became the face for an international energy drink, and even tried his luck in fashion. Most of these moves were for the money, but that’s what business is all about. Why make money from one industry, when you can create multiple incomes? At the end of the day, if one fails, you will always have the other(s).

This is common among both celebrities and athletes. They’re able to use their star power to sponsor companies and products, which usually leads into other neat ventures.

Always offer the public different products – give them choice and selection. When you only cater to one target market, there’s only so far you can get.

 

10. Fight until the end

Johnny Drama’s acting career was barely existent. Throughout all of the series, he received little to no interest from any directors, and even had a hard time finding an agent. However, there’s no doubt that Drama gave it 100% for each audition and fought for his life in every season. Ultimately, he got his own show and received other multiple deals.

In reality, most of us will have a career like Drama’s before we reach ‘Vince status’. We will have to fight until the end, even if it means getting knocked down over and over.

Determination is key; with it, there’s nothing that can knock you down and keep you down. If you want it bad enough, you will succeed.

 

11. Go with your instinct

It’s hard not to question your past judgments or actions, especially during adversity. A lot of characters in the show hung their heads after some sort of misfortune, but not Eric. E always went with his gut feeling. Now this isn’t to say your gut feeling is always right, but it’s important not to ignore it despite what others advise you to do. If it’s wrong (which it will be, here and there) don’t hang your head.

What separates leaders from followers is the ability to make decisions and move forward on them.

 

12. Have confidence in yourself

Although it didn’t always seem like it, Vincent Chase was always a confident character. He was confident in what he wore and everything he did. He would hear comments from time to time pressuring him to change the way he did things, but he believed in himself and stayed confident no matter what stage of life he was in.

In business, if you’re not willing to fight for yourself, don’t think anyone else will. Confidence is everything when you’re leading a team, or presenting your ideas. Believe in yourself, your dreams, and only then others will.

entourage lessons of success

 

13. It’s never too late

If you think it’s too late to get your life or business together – you’re wrong. Turtle and Drama are prime examples. For Drama, friends or acquaintances often told him to give up on his career due to his age – it would bother him, but he never stopped moving forward. Turtle on the other hand didn’t care about a career until he was at least 30. He found that everyone, including his girlfriend, would treat him like a baby. A lot of this was due to him getting things for free and not working for them. He could have continued to live like a prince, but he wanted respect and he set out to earn it. In the midst of a new venture later in the show, he declined Vince’s offer to take care of him even though he really needed financial help.

He didn’t care how long it took him to do what he needed; he was just focused on reaching his goals and adding accomplishments to his name. At the end of the day, there’s nothing that feels more rewarding.

 

14. Don’t hang out with the wrong crowd

At one point, Vince got caught up with the wrong crowd. He began dating a porn star and hanging out with Scott, someone who cared more about having fun than anything else. This led to Vince’s drug addiction, which eventually led to Eminem knocking him out and sending him straight into rehab.

It’s nice to go out and have a wild night with your party friends once every blue moon, but the second you go from seeing them a couple times a year to a couple times a day, you’re going to be in trouble.

Going back to lesson 1, you should surround yourself those that will push you to succeed. It might be slow, but they will eventually sink your ship.

 

15. RUN don’t walk

Time is money. In every season of the show, Ari was on the run. He understood what seconds and minutes added up to and if you weren’t using his time effectively, he would ask you to leave, or simply hang up on you. In other scenes, you’ve probably noticed he literally ran to get to where he needed to be. Ari made sure his days were as productive as possible and never left an opportunity hanging.

A lot of people assume that since they addressed 5/10 things in the day, everything would be fine. Truth is, successful people don’t eat or go home until they hit 10/10. If you don’t seize your opportunities, somebody else will. Vince was once quoted advising E:

“why hold off on something until tomorrow that you can accomplish today?”

 

16. Suck it up

Lloyd was continuously abused and overworked by Ari, but as he once said “I know it will be worth it in the end.” Lloyd knew it would be a lot of work for him to become a full-time agent, but never once did he back down from his responsibilities. He was verbally abused day in and day out but he remained professional and his work was second to none. During one episode when he took a leave from work for personal issues, Ari literally couldn’t function. Someone as hardworking as Lloyd can never be replaced, so they never are.

 

17. Reward your supporters

Every time Vince succeeded, he would share the wealth with his entourage, equally. By doing so, all of them felt apart of the success and were happier for Vince. When E got a big paycheck, he took the boys out shopping and let them buy anything they wanted. Now some may argue this is “buying support” but it’s not. All of the guys supported each other from small things like an audition, to landing big movie roles and killing it at the box office. They did it because they wanted each other to succeed; the materialistic things were just a bonus, a sweet bonus.

Choose your relationships wisely.

 

18. Have fun!

Outside all of the business meetings and negotiations, everyone was having fun. This had a lot to do with them following their passion. None of them were forcing themselves into industries or jobs that didn’t appeal to them, and due to that they had fun even when they were working.

Whether it’s lunch by the pool, or merging with a $100 million dollar company, smile and be happy knowing you’re doing what you love.

entourage lessons for success

 

Feature Image By HBO

Additional Images Originally Appeared on FilmAffinity

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2 Comments

2 Comments

  1. Koko

    Apr 8, 2014 at 3:11 pm

    It’s great to know that someone sees more than parties, booze and drugs in Entourage 🙂 It’s about the life of Mark Wahlberg, made by his real life complications and he is a producer too! Just to mention that, the other this are perfect.

    • Sean Bassi

      Apr 12, 2014 at 3:20 am

      Thanks Koko! It was great to see Wahlberg turn his reality into such a successful show. Looking forward to the movie!

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Success Advice

How to Overcome Stage Fright in 5 Simple Steps

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Fear of public speaking, also known as glossophobia (which literally means fear of the tongue) is the apprehension that one experiences when speaking in public. It’s reported that 1 in every 4 individuals reports some sort of anxiety when presenting ideas in front of an audience. Regardless of one’s personal or professional background, being able to communicate ideas confidently and eloquently is of utmost importance. So, how can you overcome stage fright?

Here are 5 simple steps to help you overcome the fear of speaking publicly or in a group:

1. Success Visualization

A great deal of the fear we experience stems from the negative self-talk that goes on in our minds. Thoughts such as “I don’t think I can do it; I’m going to forget my notes; what makes me think people want to listen to me?” The first step in trying to counter the negative self-talk is through what I call Success Visualization. It’s a well-known scientifically-proven fact that the best way to counter negative mental chatters is with positivity.

Find a quiet place where you can be undisturbed for at least 15 minutes, create a mental image of the speech being a complete success. See the audience cheering and learning. See the equipment working properly. See yourself sharing your ideas with confidence. After all, no one goes to a speech to see a speaker embarrass themselves. Visualize what you want (success), not what you dread.

2. Purposeful Practice

How many times have you heard this well-intentioned advice: “Practice makes perfect”? You might wonder, “I’ve practiced over and over again, why am I not improving?” We’ve been told to practice, but no one ever told us how. In his bestselling book Peak, Anders Ericsson introduces the concept of purposeful practice that he defines as a focused process toward a well-defined and specific goal.

What we’re all engaged in is called naive practice, which is repeating a particular task and expecting to get better. That kind of practice as it relates to public speaking is highly ineffective. There is a myriad of skills that need to be mastered in order to become an effective public speaker. As such, purposeful practice is the right way to go since it allows you to focus on one skill at a time with timely feedback on what is and what isn’t working. Always practice with a goal in mind!

3. Energy Reversal

Science claims that we experience the same physiological changes whether excited or stressed. Our adrenal glands release epinephrine, norepinephrine, and cortisol which are the flight or fight chemicals. From a physiological perspective, being ready to fight, or afraid, ready to run away, are two sides of the same coin. Henceforth, we can channel that same energy resulting from stage fright to psyche ourselves up for the speech.

Positive affirmations such as “I am excited! I rock”, can help trick your subconscious mind into believing that you’re excited. Our subconscious mind is impersonal. It doesn’t discriminate or rationalize, it accepts as true and brings to us whatever we suggest. Positive powerful autosuggestions sink deep into our subconscious mind, and manifest themselves in the way you feel, think, and act. Never tell yourself not to be afraid! Well, I mean always tell yourself you are excited and ready to rock.

4. Action

No great results are to be obtained without consistent and persistent actions. Many of us attend speeches, workshops, and seminars expecting to get the desired outcomes right away. It doesn’t work that way, it never did, and it never will. The three previous steps mean nothing if you don’t have a structure that you can use to help reach your goal.

Knowledge alone won’t bring any result. Knowledge coupled with deliberate, systematic actions, will. What are you going to do? Are you going to join a local Toastmasters Club? How many times a week are you willing to practice? Do you have a support group? You reading this article is vibrant proof that you’ve had enough of stage fright. So, why not grab a pen and paper, and write your next action?

5. Know your purpose, audience, and materials

Three things must be absolutely clear in your mind before giving a speech: Your purpose, the audience, and your materials. First, on a blank sheet of paper, at the very top; make sure you have this question answered: Why am I doing this? Or in the form of a similar statement: By the end of my speech, the audience will have learned. Without a purpose to give you direction and bring value to your audience, you don’t have a speech.

Next, Who am I talking to? Before getting on stage, basic information about the audience’s age group, cultural background, and level of knowledge is essential. Those insights empower you to appropriately frame your message, so you can engage the audience and get your message across more effectively. Speaking isn’t about you, it’s all about the audience.

Finally, make sure you’ve mastered your materials. Specifically, the introduction, main ideas, and the conclusion. Part of why we are afraid results from doubts of not being fully prepared. Never get in front of an audience without having fully mastered your materials. Complete mastery of your materials will boost your self-confidence which will, in turn, reduce your public speaking apprehension.

I hope these techniques serve you well as they have me and the many others who’ve attended my workshops. Your willingness to try, fail, and improve is what makes magic happens. As you may have realized by now, all you have to do to transform your fear from a foe to a friend is to S-P-E-A-K despite your fears.

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Success Advice

3 Steps to Overcome Your Brain Biases and Become a Better Leader

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If I asked you what time it was, you would likely look at your watch or a clock and read the time out to me. And if I were to ask you where you were, you would likely tell me the exact place, city, or state. If I were to then ask you who you were, you would likely identify yourself by your name, demographics, and perhaps a work description. On the surface, answering these questions correctly would indicate that you were not delirious. But are these answers technically correct?

Biological research indicates that superficial orientation to time, place, or person is actually far from accurate. Rather, leaders might benefit from tending toward a non-dual awareness of the world, or at least offer themselves the opportunity to see the world this way. For time, place, and person, the biological realities differ from what we might initially think.

1. Don’t let the past dictate the future

We are not ever-present in the moment, nor should we be. In the human brain, the past, present, and future are all represented at the same time. Although we consciously organize our experiences using this segmentation of time, each of these networks can intrude upon the other. In fact, what you remember can influence what you can imagine for yourself in the future as well.

As a leader, ensure that you frequently examine your memory for positive reminders and biases, take advantage of your presence circuits by incorporating mindfulness practices into your day, and use your “possibility” circuits to imagine or simulate future scenarios. In fact, in the brain, imagination is a lot like reality.

Using all three components at all times will help you to become aware of biases and could also help you escape traps or an impasse. For instance, when a possible solution for product development is vague, thinking in terms of what you want and then reverse-engineering this process to make what you imagine could be helpful.

Walt Disney saw great success after building Disneyland in Anaheim, California, but outside interests began crowding his theme park. When he decided to build another park in Florida, Disney didn’t let the experience of California dissuade him. He expanded his vision to something greater — a city of tomorrow. He created fake companies to secretly purchase acres upon acres of land near where Interstate 4 intersected with the Florida turnpike so his company could develop the area around the theme park.

“We keep moving forward, opening new doors, and doing new things, because we’re curious and curiosity keeps leading us down new paths.” – Walt Disney

2. Think beyond your reach

We are not where we think we are. The notion of “place” has become increasingly irrelevant in a globalized world. With the increasing interconnectedness of societies, cultures, and economies, leaders need to be careful not to think of themselves too locally. When leaders are global in their thinking, they are likely to elicit more widespread cooperation from international markets.

Ask yourself, “What communities beyond my local community do I want to impact?” and “What communities am I impacting?” When you take this approach, it can help your advertising strategies, for example, become more congruous with specific or global markets. Also, leaders who think globally will be more aware of competition from afar and opportunities for collaboration, too.

Jack Ma can be credited with being a global thinker for founding Alibaba, allowing Chinese consumers to access domestic and international markets that they could not previously access. By moving into e-commerce, online banking, and cloud computing, Alibaba has expanded into India and Southeast Asia. Alibaba’s Electronic World Trade Platform has even enabled farmers in Rwanda to sell coffee in China. This is a perfect example of thinking beyond your reach.

3. Connect the body and mind

We are not what we think we are. We are made up of 50% human and 50% bacterial cells. And water comprises 60% of our body weight. So we are basically bags of water and bacteria — with a dash of human cells thrown in for good measure.

Also, though we might think of ourselves as being separate from other people and things, many people or things you encounter in your life are stored in your brain’s memory centers. Our brain tissue contains images, voices, and other attributes of people and things, too. We are not actually as separate as we think.

Take care of your bacteria, and they will take care of you. Having the right balance of bacteria is of paramount importance to effective functioning because the wrong balance can make you depressed or anxious. Taking a probiotic can help restore this balance. Understanding that you are part human, part bacteria can change the way you take care of your moods by essentially reminding you to take care of your gut.

Mindy Grossman, the CEO of WW International — formerly Weight Watchers — is a good example of someone who understands the mind-body connection. Grossman has led the company’s focus from strictly weight loss to wellness through healthy habits. Part of the transformation includes a partnership with meditation app Headspace to help members maintain a positive mindset.

“It is health that is real wealth and not pieces of gold and silver.” – Mahatma Gandhi

When you engage in non-dual awareness by recognizing that your brain fuses and connects time, places, and people, your leadership capacities might also be enhanced. As Warren Bennis, founding chairman of the Leadership Institute at the University of Southern California, suggests, “Becoming a leader is synonymous with becoming yourself.” And your “self” is more intriguing and mysterious than you might first imagine.

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Success Advice

3 Ways to Optimize Your Life for Success

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Welcome to the 21st Century! The era of the Internet and computers, lack of focus and superficiality. I know it sounds scary, maybe a little more exaggerated, but it’s true. We live in a world of short posts and 3-minute videos. We barely engage in deep learning, deep thinking, and deep focus to produce iPhone-level products or services. So, the majority of us are actually a failure, thousands of miles away from achieving our life goals and business visions. How do we turn things around? We need to optimize our lives.

Here are 3 tried and tested tips that will help optimize your life for success:

1. Upgrade your sleep

When I started my freelance writing career—about seven years ago—I was passionate and excited at the beginning. I’d fill my To-Do list with 6-10 items, worked until 12 am, set my alarm to go off at 3 am, and had my running shoes close to my bed before I went to sleep. However, I barely accomplished anything. I usually became weak and bored before noon.

I noticed that I was putting a huge strain on myself. I was sleep deprived, which is the primary reason why I didn’t have the energy and the drive to accomplish my tasks. Many studies have shown that sleep-deprivation affects productivity.

As soon as I began increasing my sleeping time from 4 hours to 7 hours, my whole life changed. I started producing a lot and earning a lot more than before while also improving my health. With more sleep, I get the emotional energy and willpower I need to read, learn, and optimize my career.

“By helping us keep the world in perspective, sleep gives us a chance to refocus on the essence of who we are. And in that place of connection, it is easier for the fears and concerns of the world to drop away.” – Arianna Huffington

2. Read every day

I get it. You’re in the middle-class struggling to survive. You simply have enough to deal with. Reading? That’s not included on your to-do list. Well, if that’s you, then you’re not alone. The global literacy rates are at an all-time high at 84 percent, which means people don’t read as much anymore.

We already have enough on our plates. In fact, a study by the National Endowment for the Arts has found that the reading culture among American adults has drastically declined. That’s a big issue in our world.

Nothing can prevent you from reading, not even your plate that’s chock-full of other life’s priorities. If you want to produce more and impact the world around you, you’ve got to read more and learn more.

Take a look at the visionaries and business titans in our world. All of them are avid readers and avid learners. Bill Gates is a bibliophile and Phil Knight, the founder of Nike, reveres books. In fact, Knight customized his library to the extent that, before you enter into his library, you have to take off your shoes and bow.

So, what would you do next? Take Roald Dahl’s advice, captured in this beautiful line of the poem: “So please, oh please, we beg, we pray / go throw your TV set away / and in its place, you can install / a lovely bookshelf on the wall.”

3. Use Pomodoro to time yourself

You can’t go far in life if you can’t stay totally focused on a task. If you want to achieve your goals, you have got to stay laser-focused on a single task before jumping on to another. Why? Because goals are not achieved in one session, they’re achieved in a series of tasks, one after the other.

To install the focus habit in your system; therefore, you need to use a time-management kind of “system” that will keep you firm and attentive on a specific project. Pomodoro is that time-management tool that will help you stay focused.

It’s an excellent app that lets you set a timer for a particular task. You can set it for 30, 60, or 90 minutes and stop working when it goes off. I use it all the time, and I can’t imagine my work life without it.

“I know when I stay focused, good things will undoubtedly happen.” – Marc Trestman

Optimizing your life for more power, passion, and productivity is not about working hard late at night or running multiple projects at a time. It’s about maintaining your health and recharging your energy (having a deep, quality sleep), updating your knowledge (by reading every day), and staying focused on a project—until you accomplished it (by using Pomodoro technique to boost your concentration).

Of course, developing these sets of habits is not easy. You’ll fail and get frustrated, but as the productivity guru Robin Sharma beautifully puts it, “all changes are hard at first, messy at the middle, and beautiful at the end.”

Which one of these three ways to optimize your life resonated most with you and why? Share your thoughts below!

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Success Advice

If You Want Your Business to Grow, You Need to Increase Your Capacity in the Following 4 Areas

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Every entrepreneur must come face to face with the reality that there is only a limited amount of time, money, and people that you can use within your current position. The question is how do we increase or maximize the things that we find limiting?

As we walk through our hectic and often over packed ten, twelve, or fourteen hour work days, one of the questions that we should be asking is “What can I do to get more, to do more?” Instead, we just put our heads down and plow through the ever growing mountain of work. We are limited by capacity.

Webster’s dictionary defines capacity as “the maximum amount that something can contain.” As an entrepreneur, we have to be a little more creative than the average person and find ways to increase our capacity.

Below, we’ll identify the four areas where we need more capacity and ways to get more with less:

1. Time

Every human on this planet is granted twenty-four hours a day. That is it. Your capacity is a total of twenty-four hours. Within that amount of time you must manage several different demands. Our goal is to buy back our time, when we can, and operate at peak performance when we are accomplishing our daily task list.

First, without staying in performance shape, you will lose the ability to stay at optimal performance levels. Our bodies are truly a machine with an amazing capacity, but when it is abused by lack of sleep, improper nutrition, and lack of exercise, you are reducing the capacity at which you are able to work and function. The closer you are to peak performance, the more you are able to accomplish in a shorter amount of time.

Second is our mental condition. Here is what my experience has taught me. If I am mentally rested, I can think and make decisions faster because I can reason more quickly in addition to understanding the circumstances and information at an extremely fast pace. 

When your brain is healthy, it becomes easier to absorb and process information at a lightning fast rate. Taking the time to allow your brain to rest will give it the ability to function at peak performance.

Third is our ability to train and delegate. So often, entrepreneurs are control freaks. No one can do it as good, as fast, or with the same passion as they can. While that may be true in most cases, you are only one person with twenty-four hours in a day. 

You’ve got to delegate and accept people’s help. If you add one person that’s willing to give you eight hours of work a day, you have now bought back hours in your day to focus on activities that will generate more income and grow your business. Why wouldn’t you want to add more hours to your day by delegating out the appropriate task to qualified individuals?

“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.” – Zig Ziglar

2. Money

Money tends to be a sensitive topic. We all have beliefs that were formed through our childhood on the concept of money. With many different views and beliefs on this topic, let’s just focus on the fact that money is a tool that will either help grow the company or a tool that limits a company’s growth.

It is always amazing that the faster a company grows, the greater the challenge of money becomes, and this could potentially cause the company to implode on its own success. How do we then increase the capacity and have more money available to keep the company healthy?

Here are a couple of things to watch out for: 

  • Keep an eye on your budget and get accurate figures. 
  • Look at your Accounts Receivables. If they get too long, they could cause significant cash flow issues. 
  • Find investment opportunities. There are many private investors that are often willing to invest in companies that have true growth with solid foundations. 
  • Look at additional profit generators, products, or services that fit within your current business model. 

Each of these are ways to increase the capacity that money contributes to the growth of your business.

3. Space and Supply

I will never forget exactly where I was standing when I had a manufacture call and tell me they were unable to supply anymore products. They had sold us everything they had, and they weren’t going to have anything available to sell for at least another six months. At that time, we were selling customer printed t-shirts and had tens of thousands of orders that we needed to fulfill within the next thirty days.

Space and Supply are tied closely together. Space is often associated with the production. Do you have a space large enough to meet the demands of the supply? If production can only create 1,000 products a day and buyers need 5,000 a day, there is a conflict. 

A business needs to understand that challenge, and there are only 3 solutions to this problem: The business figures out how to increase production within the current workable hours, adds more workable hours with the equipment and space, or adds more equipment and space to increase production.

Space and supplies are assets that can be used towards the business advantage. Here are a few questions to ask when making decisions based on space and supply. 

  • Evaluate your supply channel. Are they able to maintain a solid supply of your raw product materials to match your growth as a company? 
  • Are there back up supply manufactures that can create a safety net for your raw products? 
  • Evaluate the amount of space you have available along with the time the space is usable. Can you run a second or third shift with the current space and equipment?

“The only person you are destined to become is the person you decide to be.” – Ralph Waldo Emerson

4. People

Your employees are likely going to be the most important way to create more capacity. We talked briefly about delegating to qualified individuals to increase capacity around your own personal time. The next phase is to create more capacity by adding additional, trained people. 

You need to create leaders of leaders instead of you being the leader of followers. Don’t miss this because the greatest of all companies focuses on increasing their capacity by training leaders of leaders and not just a loyal following.

Entrepreneurs tend to be a lonely bunch of souls. Too often, we are misunderstood and looked at with slight amount of annoyance. Others just don’t always know how to take someone that is passionately thinking outside the box. 

People skills are a must in order to have more than just yourself work to achieve that dream. As an entrepreneur, develop the social skills to work with individuals that are different than yourself.  

Here is a 3 step plan to have great capacity with people as your allies:

  1. Start by learning how to delegate your own tasks to buy back your time. Identify the tasks that are easiest to delegate and document how you do them. This will give you a specific job description, set achievable goals, and create a daily action plan that is now something that is teachable. 
  2. Use this system and apply it to the other things you are currently doing. I would suggest building out an organization chart and dividing the different tasks you do within the company. Then create a plan that will allow you to hire the right person and move you onto the next area in the organization that you will systematize. 
  3. Finally, create the culture. Culture is like a child, it will grow whether or not you pay attention to it. So be intentional. Learn what it takes to build a culture that attracts the employees that want to be there and grow with the company. 

Each of these four areas has an incredible amount of potential to increase your capacity, and allow your business to grow. Don’t attempt to tackle everything at once. Identify just one area that you will commit to grow within the next three to six months. Take action and implement. 

What is your next step? Share with us below!

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