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Success Advice

Asia’s Richest Man “Li Ka-Shing” Shares Advice For Young Entrepreneurs

Joel Brown (Founder of Addicted2Success.com)

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Li Ka-Shing Billionaire Richest Advice For Success

Asia’s richest man Li Ka-Shing with a net worth of $31.9 Billion teaches you how to buy a car and house within five years.

“Suppose your monthly income is only 2,000 RMB, you can live well. I can help you put money into five sets of funds. The first $600, second $400, third $300, fourth $200, fifth $500.”

 

First set of funds:

The first set of funds is used for living expenses. It’s a simple way of living and you can only
be assigned to less than twenty dollars a day.

  • A daily breakfast of vermicelli, an egg and a cup of milk.
  • For lunch just have a simple set lunch, a snack and a fruit.
  • For dinner go to your kitchen and cook your own meals that consist of two vegetables dishes and a glass of milk before bedtime.

For one month the food cost is probably $500-$600. When you are young, the body will not have too many problems for a few years with this way of living.

 

Second set of funds:

To make friends, expand your interpersonal circle. This will make you well off. Your phone bills can be budgeted at 100 RMB. You can buy your friends 2 lunches a month, each at $150.

Who should you buy lunch for? Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who has helped you in your career. Make sure you do that every month. After one year, your circle of friends should have generated tremendous value for you. Your reputation, influence, added value will be clearly recognized. You’ll also enhance your image of being good and generous.

 

Third set of funds:

To learn. Monthly spend about 50-100 RMB to buy books. Because you don’t have a lot of money, you should pay attention to learning. When you buy the books, read them carefully and learn the lessons and strategies that is being taught in the book.

Each book, after reading them, put them into your own language to tell the stories. Sharing with others can improve your credibility and enhance the affinity. Also save up $ 200 per month to attend a training course. When you have higher income or additional savings, try to participate in more advanced training. When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.

 

Fourth set of funds:

Use it for holidays overseas. Reward yourself by traveling at least once a year. Continue to grow from the experience of life. Stay in youth hostels to save cost. In a few years you would have travelled to many countries and have different experiences. Use that experience to recharge yourself so that you’ll continually have passion in your work.

 

Fifth set of fund:

Invest. Save the $500 in your bank and grow it as your initial startup capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much money. However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience on running a small business.

Earn more and you can then begin to buy long-term investment plans and get long-term security on your
financial wealth being of yourself and your families. So that no matter what happens, there will be adequate funds and the quality of life will not decline.

Well, after struggling for a year and if your second year salary is still 2,000 RMB then that means you have not grown as a person. You should be really ashamed of yourself. Do yourself a favor and go to the supermarket and buy the hardest tofu. Take it and smash it on your head because you deserve that.

If your monthly income is at 3,000 RMB, you must still work very hard. You must try to find a part time job. It will be great to find part time sales jobs. Doing sales is challenging but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry it for the rest of your career.

All successful entrepreneurs are good sales people. They have the ability to sell their dream and visions. You’ll also meet many people that will be of value to you in the later part of your career. Once you’re in sales, you will also learn what sells and what not.

Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.

Try to buy minimal clothes and shoes. You can buy them all you want when you’re rich. Save your money and buy some gifts for your loved ones and tell them your plans and your financial goals. Tell them why you are so thrifty. Tell them your efforts, direction and your dreams.

Businessmen everywhere need help. Offer yourself to do part time for any kind of opportunities. This will help to hone your will and improve your skills. You will start to develop eloquence and soon, you’ll be closer to your financial goals.

By the second year, your income should be increased to at least 5,000 RMB. Minimum it should be 3,000 RMB. Otherwise you would not be able to keep up with inflation.

Li Ka-Shing Picture Quote

 

Conclusion

No matter how much you earn, always remember to divide it into five parts proportionately. Always make yourself useful. Increase your investment in networking. When you increase your social investment, expand your network of contacts, your income also grows proportionately. Increase your investment in learning, strengthen your self-confidence, increase investment in holidays, expand your horizons and increase investment in the future and that will ultimately increase your income.

Maintain this balance and gradually you will begin to have a lot of surplus. This is a virtuous circle of life plans. Your body will start to get better and better as you get more nutrition and care.

Friends will be aplenty and you will start to make more valuable connections at the same time. You will then have the conditions to participate in very high-end training and eventually you’ll be exposed to bigger projects, bigger opportunities. Soon, you will be able to gradually realize your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child’s future.

Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now. When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living. When you are poor, spend money on others. When you’re rich, spend money on yourself. Many people are doing the opposite.

When you are poor, be good to others. Don’t be calculative. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself better. When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and don’t let people easily make use of you. These are the intricate ways of life that many people don’t understand.

When you are poor, spend money so that people can see it. When you are rich, do not show off. Just silently spend the money on yourself. When you are poor, you must be generous. When you are rich, you must not be seen as a spendthrift. Your life would have come full circle and reach it’s basics. There is tranquility at this stage.

There is nothing wrong with being young. You do not need to be afraid of being poor. You need to know how to invest in yourself and increase your wisdom and stature. You need to know what is important in life and what is worth investing in. You also need to know what you should avoid and not spend your money on. This is the essence of discipline. Try to avoid spending money on clothing but buy a selective number of items that has class. Try to eat less outside. If you were to eat outside, do make sure you buy lunches or dinners and foot the bill. When buying people dinner, make sure you buy dinners for people who have
bigger dreams than you and works harder than you.

Once your livelihood is no longer an issue, use the remainder of your money to pursue your dreams. Spread your wings and dare to dream! Make sure you live an extraordinary life!
English Translation by: Edmund Ng (CeoConnectz) Thanks Ed!

There are many people who are struggling to make ends meet. It doesn’t matter if they are rich or they are poor. There are lessons for all to learn from Li Ka Shing.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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29 Comments

29 Comments

  1. Raye Mayhorn

    Nov 17, 2015 at 1:03 pm

    It’s 5:30 am, I was searching for some morning inspiration and found it in this article. Take heed young people, this could be your story years from now. At 61, I’m addicted to success, what a Powerful thought. Thank you Joel!

  2. Neha Mehra

    Jan 27, 2015 at 11:44 am

    This is by far one of the best articles i have read so far..Each point mentioned in this article is simply amazing as well as appropriate..Investing in urself should always be first as compared to investing in others..

  3. sostenes

    Jan 20, 2015 at 8:44 am

    Nice article with well explanation and it has moved me as well but the currency would be better if they were all in USD coz like the RMB troubled mi a lot…thanks for MR Li kang Shing and Joel for sharing such an exclusive advice.

  4. Jeremias Calderon

    Jan 8, 2015 at 6:46 am

    It is really inspiring what i’ve learned from this article. Im a happy go lucky guy and a one day millionaire. It made me think many times on how i should spend my money better with the use of the word “responsibility” for your own sake in the future. Dream big! So Success will become big just follow your senses and it will gives you an impact of a good results in your life.

  5. J.K

    Dec 27, 2014 at 2:36 pm

    Humble and Hungry,..knowledge is valuable, AWESOME!

  6. Dragon chhay

    Dec 27, 2014 at 1:18 am

    Its great to learn more in global about the lower and the top range businessman idea.

  7. Chidinma Inspirations

    Dec 25, 2014 at 2:32 pm

    Honestly, I am truly inspired. This write up has changed my thoughts about so many things in life.
    Thank You For Sharing!

  8. kodwo Brogya

    Nov 29, 2014 at 10:03 am

    Thanks a lot for your inspiration,I really grateful

  9. Luis Reginaldo Medilo

    Nov 24, 2014 at 8:24 am

    Thank you Mr. Li Ka-Shing for sharing your valuable advice to aspiring entrepreneurs. And thanks to Joel and Edmund for sharing this article to us. These are very powerful and useful advice that are a million times better than what most personal development gurus tell us all the time. No BS, just helpful, actionable information.

  10. Ching

    Nov 19, 2014 at 6:19 am

    @ Issac All the currency within the article is mean to be in RMB. I believe this article provides an insight of the recommended use of the financial resources. How you want to allocate to suit your needs is up to you ^^

  11. Jarne

    Nov 15, 2014 at 1:59 pm

    The first set of funds is for food (30%). But where goes the house rent?
    Maybe this way of saving is only good for students who don’t have to pay rent…
    Can someone explain me? Would be really grateful! (I’m working on a “save money” app)

    • JoeBloh

      Nov 18, 2014 at 8:48 am

      In China and other Countries,
      I’m pretty sure that most people don’t live alone;
      They live with their families.

      Grand Parents, Mothers and Fathers and Kids, etc…
      ALL live in 1 Big House and Pool their resources.

      Most times, the house is already owned.

      Here in the U.S., once you’re 18, you’re expected to
      move-out and get your own house and car etc….
      To keep the Economy cycle rolling. It’s about money.

      I have Asian neighbors, and they ALL live in a Big House.

      All Asians I’ve ever known do that.

  12. Sean Brown Jr

    Nov 10, 2014 at 5:21 am

    this is so great! but a question, what about rent?

    • Shakil Ahmed

      Nov 11, 2014 at 6:34 pm

      That’s what I was thinking as well!

  13. Junriz

    Nov 9, 2014 at 3:03 pm

    BRILLIANT!

  14. david

    Nov 9, 2014 at 7:15 am

    hello,how to be generous when you are POOR…..

    • Dominic

      Nov 10, 2014 at 10:57 am

      being generous is not all about money. you can share your talents, or service in any form. But if you really want to share – help yourself first so you can give even more than service. Prayer – totally free but I believe could really help a lot. Cheer up – being poor is totally not an excuse. 🙂

  15. Alana

    Nov 8, 2014 at 8:12 am

    great GREAT article!

  16. Aljoscha Laschgari

    Nov 7, 2014 at 11:39 pm

    Thanks Joel, Edmund and Li Ka Shing for this helpful article!

    Greetings from Germany!
    Josh

  17. Gabriel Do Carmo

    Nov 7, 2014 at 10:05 pm

    Wow this article is amazing! Its like reading a book based on ancient Chinese philosophy. I love it because its so simple and straight to the point

    Thanks Joel !

  18. Alex

    Nov 7, 2014 at 7:31 pm

    This article is going to change my life. I wrote down, in my own words, what I’m going to do with that money, but this man gave me the baseline of what I need to do to ultimately succeed. It all makes sense. Thank you so much!

  19. Nathan

    Nov 7, 2014 at 1:54 pm

    This has got to be one of THE BEST articles I’ve read on addicted2succes. I will be sure to keep a copy of this article and read again to keep myself focused next year.

  20. Isaac Keletso Tsotetsi

    Nov 7, 2014 at 5:42 am

    this article is very powerful and useful for a student like me…I gross an income of 2500 RMB on monthly basis…but i dont understand why some parts of the article’s currency is written in dollars..wasnt supposed to be written in RMB because when I convert,it is way more than the allocated funds…can somebody explain please…

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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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