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6 Reasons To Chase Your Dream Not The Money

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So we have all been there (including myself), where we get stuck in a rut trying to make as much money as possible. Now, don’t get me wrong money is a fantastic resource but I am seeing a lot of people still fall into the money trap rather than what will help them be fulfilled.

Having been lucky enough to experience both wealth and poverty, I have learnt a few lessons along the way. If you can grasp the concept of making your dream come true rather than always chasing money, you will reach new levels of success.

Now this topic has been covered lots before but I want to add some points to it that you may not have considered before. If you’re at that point in your life where you feel stuck and are unfulfilled, then your beliefs about money are absolutely contributing to your unhappiness!

It’s easy to walk down the street and see so many people eating nice food, driving fancy cars, and dressing well, but what you can’t see is what they are like when they get home. Unfortunately, platforms like Instagram can easily give you the impression that everyone is living an amazing life – I hate to break it to you, but they’re not, in fact, most of us are chronically unhappy.

This is a great problem to have, though because it’s easy to work on and the solutions are straightforward. The solutions will only work though if you have an open mind and have personally developed your brain over time (fed it with quality ideas and content).

So, below are six reasons to stop chasing money and start chasing your dream.

1. Reaching your dream can give you money automatically

This first one is my favourite because it’s poorly understood. When you care about something a lot (like a dream), and you give it everything you have, you will eventually succeed. And guess what? When you succeed, you create value for other people, and that value can easily become money.

The fastest way to have money is to forget about making it, and think about how you can create it. Creating money requires a big dream (something you’re passionate about) and a set of beliefs that makes you think you can achieve it.

The skills to achieve the dream can be acquired, so they are not a necessity to begin with. Now, if you are thinking I am making it sound too simplistic, it’s because I am. I have always said success is simple but you have to start somewhere, and you must work on your mind every day.

2. Money can go as quick as it comes

Now I probably shouldn’t say this but one thing I love about money is that it shows who people really are. If you lack the beliefs and mindsets to add value, then even if you win the lottery tomorrow, you will almost certainly lose everything.

That’s because once you have made money by achieving a dream (the real way), even if you lose everything the next day, you can rebuild it by following your passion. Rebuilding from nothing is not as hard because you know what it takes to do it, and all you have to do is do what you love again to build your wealth back.

It’s a strange feeling when you see someone who is rich and then the next day they have no money. It can happen so quickly, which is why you should always focus on your dream and everything else will fall into place.

3. Achieving a goal feels much better

The sad thing is that having lots of money actually doesn’t feel that good, in fact, there is no such thing as enough money – this is why dreams are more important. Working towards a dream feels amazing, and as you hit each milestone, it makes you fulfilled beyond your wildest dreams.

All of a sudden, you are achieving success at something that has the possibility to be your life’s work. When your dream becomes your life work, it gives you a sense of meaning that no amount of money can give you.

Now, have you ever seen someone who is angry, has lots of money and became happy, spent it, and the next week they are angry again? We all have, and that’s what money can do to you if you let it. I am not saying you should forget about money and waste it, just don’t let it be your focus.

“Let money be the sign from the universe that you are creating value for other people, not the measuring stick of your success or status in society”

4. Money doesn’t necessarily give you unforgettable experiences

Having a lot of money can make you feel great in the short term, but it will never give you unforgettable experiences. Yes, you can buy holidays or experiences but what you will quickly realise is that the people you are with are far more important than the experience itself.

You can do something as simple as a dinner party, and it can be the best night of your life not because of how much it costs to host, but because of the great people and stories you share. Also, when you have experiences that are paid for, there is no sense of purpose.

“When you have an experience as part of a dream you are chasing, it becomes a critical building block to the story and meaning of your life. Suddenly, every experience has its place, and you learn to love the negative experiences at the same time” – Tim Denning

Money can’t do this and will buy you experiences that on the surface seem perfect until you realise at the end that it wasn’t that great after all, and you have done something similar before.

5. When one area thrives, other areas can die

A critical law of nature is that not all areas of your life can thrive at 100% all the time. As you watch the person walk down the street with big muscles, remember that it’s because they focused all of their time and energy into one area of their life while other areas didn’t progress,

What you can’t see is that they may have no intimate relationship, they might have no savings, they could be very unhealthy, their career might be going nowhere, their car could be broken down – there are things that you can’t see, but I can guarantee they have had to give up something.

What are you prepared to give up for your own dream?

So, when you go after a dream just remember that there may be sacrifices and areas of your life that won’t grow, and you have to be prepared to make those sacrifices.

The reason I tell you all of this is because money is just like the person with the big muscles, it’s one area of a persons life that can be going well, but that is meaningless if all other areas are failing miserably.

Focus on your dream, stimulate the areas of your life that matter, and the “money thing” can tie all of this together when you eventually achieve your goal – assuming your goal will make you money.

6. Your money status is meaningless

Don’t forget that your money status is meaningless and people don’t care about how much money you have made. When Richard Branson walks into the room people are impressed by how many dreams he has accomplished, not by his money.

It’s the impossible tasks he has done, the person he has become and the way he gives back that make him successful. The more you fulfil your purpose, the more you achieve the impossible, the more you become obsessed with creating value, the higher your social status will be.

Walk into a bar and shout out to everyone that you have a million dollars in your bank account – no one will turn around. Walk into the same bar and tell people you just walked on the moon, and people will stand on their chairs and cheer you for the rest of your life.

If you have your own stories of money to tell then, please do so in the comments section below or send them to me via timdenning.net

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared millions of times and he has written multiple viral posts all around personal development and entrepreneurship.You can connect with Tim through his website www.timdenning.net

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27 Comments

27 Comments

  1. Benjamin Ehinger

    Aug 24, 2017 at 9:10 pm

    Money should ALWAYS be the by-product not the goal. If you chase money, you’ll end up lonely, desperate, broke, empty and simply not joyful. Money cannot buy happiness or joy. It’s a tool to be used, but not something to shoot for.

    It’s always best to chase your calling/passion/purpose and work for joy and happiness. If you do this, the money will be there, whether it’s enough to be rich or just enough to pay the bills. Regardless, when you love your work, the money part of things just has a way of working out.

  2. Emily

    Dec 1, 2016 at 12:50 am

    I know I’m late to the comment party in this article, but this was an eye-opening piece that I needed to read right now. I’ve recently set out on an entrepreneurial path and this article has helped me realize that my priorities need a bit of an adjustment. Also, I’ve been seeing quite a few articles lately that emphasize the need to provide value for people, and that’s something else I should focus on. (Rather than thinking, “Ugh, I’m smart and talented, why isn’t the universe throwing money at me??”)

  3. Kweku Addy

    Jun 8, 2016 at 2:29 am

    Having been on either side of the spectrum- rich and poor, you know what you’re talking about. Lovely article. In my opinion, people would best grasp this concept of having a passion over money during their post traumatic growth phase; after experiencing absolute wealth only then would they understand it. Experience is the best teacher.

    • Tim Denning

      Jun 8, 2016 at 8:42 pm

      Kweku thanks for being so open and sharing your advice. The few sentences you wrote really connected with me. I know the most traumatic part of my life was definitely the best teacher.

  4. shaheen

    Apr 6, 2016 at 1:12 pm

    Our identity is our Passion,Have courage to follow your heart.the two things which i learnt from your article.thanks mr.tim denning for updating such a wonderful article.

    • Tim Denning

      Apr 16, 2016 at 5:31 am

      No problem Shaheen and I’m glad you were able to pull two valuable lessons that you can use in your own life.

  5. Ransom

    Dec 19, 2015 at 6:50 pm

    I do agree with this topic. Many people follow money and at the end, they miss all.
    We have to follow our dreams, the money will always be there. Energy is conserved.

    • Tim Denning

      Dec 22, 2015 at 8:40 am

      Cheers Ransom. You are spot on; money can always be obtained if it is truly your primary goal but it will never make you fulfilled.

  6. Charlene Rhinehart

    Dec 19, 2015 at 4:36 am

    Thanks for sharing! I have an Accounting and Finance background so money is often a hot topic in conversations with colleagues. I realized that in order to be my best self and maximize my value, I had to do what I love. Following your dreams may be the unpopular path initially because there is a false appearance of having more uncertainties as an entrepreneur versus an employee, but I would never want to live with the uncertainty of asking myself, “What would have happened if I focused on impact versus instant income”. I’m giving my dreams all of me and ready to enjoy the journey. Thank you, Tim!

    • Tim Denning

      Dec 22, 2015 at 8:38 am

      Charlene, I love your point of you and thanks for putting is so eloquently for all of us. Being an entrepreneur is not for everyone but I think people need to try both to figure out which one works for them. The good thing is that the rise of intrapreneurs is filling the gap and creating a hybrid opportunity for those who may not want to be an entrepreneur.

      Thank you again Charlene.

  7. Aleksandra

    Nov 23, 2015 at 2:17 pm

    I must say that being in my 20s, I appreciate the fact that this article will show you which path you should choose in life. It’s also a great motivation and reminder to chase your dreams and goals no matter what!!
    Coming from a poor family, I used to think that If I want to have a successful and happy life I need to chase the money, not my dreams… And I did that 2 years ago, but those were the most unhappy years of my life! From that experience I can say that we young people need to learn that money isn’t everything in life. If we want to achieve wealth, we need to make our dreams come true because money will follow after you chase your dream and your passion!
    Right now, I’m giving my best to reach all my goals and I know that sooner or later the money will come!
    Thanks Tim Denning for this great article that motivates and encourages me to chase my dreams day by day!!

    Best Regards
    Aleksandra

    • Tim Denning

      Nov 24, 2015 at 11:56 am

      Aleksandra, I know exactly where you are coming from and I fell into the same track. It often takes age to get the wisdom to understand how money works and my goal is to share that with the young adults so they can realise what you and I have realised much earlier. Thanks for reading!

  8. Doug Sullivan

    Nov 21, 2015 at 12:58 pm

    really good article Tim! Interestingly, the point that landed on me the most was not one of your 6, but something you said in the opening… “Having been lucky enough to experience both wealth and poverty”. This statement speaks volumes about your mindset and also carries a great lesson itself! We must embrace ALL of life’s experiences and learn from them… even the most painful. For in those painful times comes to opportunity to build the foundation of wisdom upon which we grow… our money, our life. Thanks for the good writing!

    • Tim Denning

      Nov 22, 2015 at 5:26 am

      Thanks Doug for the kind words. You are spot on, having been on both sides it gives you a really great perspective and you can see the benefits of money in a different light.

  9. Jacqueline Gillam Fairchild

    Nov 20, 2015 at 7:05 pm

    I loved this article and posted it and passed it on. Your words are always an inspiration. Thank you. And true. Like a diet or a recipe, if you keep putting in the right ingredients, you will have great results.

  10. Abraham

    Nov 20, 2015 at 5:50 pm

    Thanks Tim,
    I have always had this thought that money is just an effect of a cause. And that cause is passion to live your dream. I am now complete in mind and spirit about my own thoughts. I thank God for your wisdom. God give u more

    • Tim Denning

      Nov 20, 2015 at 8:58 pm

      Thank you so much Abraham for being so kind and I hope you find success in whatever you are doing.

  11. Paul Braddock

    Nov 19, 2015 at 7:01 pm

    Thanks for the article Tim and also for Peter’s comment. I know people who are passionate about God and serving others, but unfortunately have not figured out how to monetize it…me included. I look forward to the day when these two paths meet. Always open to learning.

    • Tim Denning

      Nov 20, 2015 at 8:57 pm

      Paul, maybe you already have something that people will pay money for but you have a limiting belief about asking people to pay you. If you can get over that then you can monetise your work. Keep an open mind and find out what others in your space are doing to make a living from their work. Best of luck Paul.

  12. Abiodun

    Nov 19, 2015 at 9:00 am

    These are awesome bullets. They really need to penetrate into the blood of our youths so that they can realize money comes after following your passion. Great bullets there.

    • Tim Denning

      Nov 20, 2015 at 2:45 am

      Abiodun, I totally agree. Often we don’t realise this until we are much older. It would be great if it was a concept we were given in our youth. Thanks for your comment.

  13. Nick Scuderi

    Nov 19, 2015 at 3:30 am

    I learned that spending money on experiences rather than things can create happiness. Things may make us happy in the beginning, but like money, you can only enjoy it so much. The more you have does not mean the happier you are.

    • Tim Denning

      Nov 19, 2015 at 4:30 am

      Spot on Nick and you got the message of the article perfectly!

  14. Peter Banerjea

    Nov 18, 2015 at 1:14 am

    Hi Tim,
    Great points! It’s surprising why a lot of people people don’t realize point number 1. Success comes from offering immense value to people and if people value your offering, then revenue will follow.
    Great companies have always been built primarily on passion.
    Thanks for sharing!
    Peter

    • Tim Denning

      Nov 19, 2015 at 1:50 am

      Agreed and thanks for reading Peter.

  15. Sushma

    Nov 17, 2015 at 11:50 pm

    Awesome article. I really loved it. This article should be required to help every youngster achieve his dream and to understand how money works.

    • Tim Denning

      Nov 18, 2015 at 8:29 pm

      Sushma, glad you like the advice and I also agree that these principles are the foundation of knowing how to manage and create money in your life. Thanks for reading.

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Success Advice

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

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Image Credit: Unsplash

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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3 Ways to Optimize Your Life for Success

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how to optimize your life for success

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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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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Success Advice

The Importance of Failure: Why We Should Fail Forward

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What Is failing forward? Will Smith said it best in a viral Instagram video that engaged the world. “You’ve gotta take a shot, you have to live at the edge of your capabilities. You gotta live where you’re almost certain you’re going to fail. Failure actually helps you to recognize the areas where you need to evolve. So fail early, fail often, fail forward.”

Failing forward is about using leverage on your mistakes and making a realistic assessment of the risks involved. It’s your ability to live with the downside, control your emotions and experiment with new approaches. When we fail forward, we need to look at the reason why we fail and understand that it’s all part of the process of achievement.

Here are 4 Reasons Why We Fail:

1. We Are Too Distracted

Distractions are everywhere. They can take us off course and could make it impossible to keep our mind on our goal or purpose. It’s important to be selective, strategic and supportive in our distractions. We all control certain aspects of our day, so be selective and prioritise tasks that are in line with your goals.

We should be strategic by understanding when we work best. Personally, I write more efficiently in the early mornings and late evenings. So that’s what I stick to. Try different things and see when you are least distracted. You’ll then be able to be supportive and generous with your time. Being supportive of others costs us little and drives our own success whilst boosting our health and happiness.

2. Lack of Self Belief

Lack of self belief runs differently from person to person. Our experiences, childhood history, genes, culture and life circumstances play a part in our self confidence. The truth is, we can’t alter the experiences that our past has given us. What we can do though, is change our thoughts to gain more belief in ourselves. Ways to increase our self-belief is to find out more about ourselves. We can do this by taking care of ourselves physically and emotionally. Giving ourselves a healthy support system and understanding our emotions are just a couple of ways to practice self-belief.

3. Fear of Failure

Failure often induces fear. When we fear failure, we allow ourselves to stop doing the things that can help us achieve our goals, help us move forward and open up possibilities we never thought were possible. We should have faith in ourselves and start to shift our inner dialogue from ‘not good enough’ to ‘more than enough’. If our inner critic takes the lead on self talk, then it’s more than likely we aren’t feeling good enough. It’s important to surround ourselves with positive people and positive thoughts.

4. Procrastination

Procrastination is a common reason for failure. It’s delaying or putting off a task or action to attend to at a later time. Procrastination is essentially giving in, to feel good. We prefer avoiding negative emotions and stressful tasks, which are the very things we procrastinate about. The first step to overcoming procrastination is recognising we do it.

We then need to understand why we do it and use appropriate strategies to prevent it from happening. We may not know that we are procrastinating and this can be damaging to reaching our full potential. With a solid understanding, we can get to the core of our reasons and make positive changes to fail forward.

Now that you know why we fail, here are the 3 ways you can fail forward:

1. Take Risks

When risks are taken, we generally overestimate the chances of something going wrong. What we focus on tends to magnify in our imagination and in return, causes us to misjudge an outcome of a situation. The reality is, the likelihood is often a far better return than we imagine it out to be. To take risks, we should not be afraid of failure.

2. Understanding Failure Should Be Your Motivation

It may sound comical but, be happy when you fail. We’ve been taught to believe that when we fail it’s because of bad attempts, bad judgment and bad luck at improving our lives. For example, we link failure with the colour red (to stop) and success with the colour green (to keep going). In reality, we are stronger and more courageous when we fail. It’s a sign of improvement, so we should recognise that failure is growth and if we’re not making mistakes, we are not really trying. Use failure as motivation and keep going.

3. Perseverance

Perseverance is the ability to recover from failure. Your chances of success is also dependent on your persistence and your willingness to persevere. You have two options when you fail: Become self-defeated or become resilient and encouraged. Perseverance requires a goal, a passion and patience. It’s important to set your own pace when persevering and not comparing your failures to others. In doing this, when we fail forward, we are more in tune with ourselves and more controlled with new approaches.

“Recognize that you will spend much of your life making mistakes. If you can take action and keep making mistakes, you gain experience.” – John C. Maxwell

Think of it this way. When we’re at the gym pushing ourselves in the weight room, the trainer would yell “One more rep!”. Our trainer wants us to succeed, but also wants us to fail. They want us to be uncomfortable to the point where our muscles fatigue. Why? Because of muscle adaptation. That’s where our muscle growth comes from. It’s the ability to learn how to get comfortable being uncomfortable. This concept doesn’t just apply physically within our muscles, it applies mentally and in our minds. In understanding this perspective, we can fail forward with more awareness and are in a better position to achieve success.

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