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What to you see in the future for your business?

Transcription

Where the heck are you going?

I am Brian Pombo, welcome back to Brian J. Pombo Live.

This is a series that we’re doing on kind of the principles of building a business. And it’s kind of a basic outline of the kind of where I start with people find out kind of where they’re at, and then kind of take them where they’re going.

So the question today is, where are you going?

If you own a business, if you’re planning to own a business, the biggest question you can ask right now is, where are you going?

What are you planning to do next?

Yesterday, we talked a little bit about the Cash Flow Quadrant, okay, you go back and watch the video on that if you want.

But the whole idea is if you don’t have a business that runs on its own, that you can walk away from it, where it’s actually it’s an actual asset, it’s putting money into your pocket, not just pulling money out of it, you’re getting more back from it than you’re giving and you’re not completely married to it, you don’t have to be constantly shoving time back into it unless you want to grow it, but it has a sustainable flow to it.

It produces cash flow on a regular basis, either it does or it doesn’t. If it doesn’t, you might want to be getting there.

If you do want to get there, the real question is, how much money are you looking to make and how soon, are you looking to make it?

And from there, you could start to design where to go next. But the toughest thing for people to do is to actually figure out where they actually want to go, what do they actually want to occur?

If any, and the only way I know how to be able to handle this, if you’ve never done it before, is to really come up with a pie in the sky concept.

What are the most that you can imagine making personally?

And what is the best absolute way of doing it, you know, if it could be a passive income business that just produces for you, and doesn’t take a whole lot of babysitting?

If you could have that, how, what’s the least amount of time is no time. So let’s say we’re going with that, let’s say we’re saying it’s not going to the amount of time I put it into it’s negligible. And then how much money do I want it to kick off on a monthly basis.

That’s where you ought to be focused on personal, look at your personal side first, even if you already own a business, even if it’s relatively passive, you got to sit there and kind of think to yourself, okay, what’s next?

Where am I going next?

What’s the next big goal and you got to look at that personally. Because then you can translate that back into your business, you have to know what you want out of it first. If you can’t find what you want out of it, you shouldn’t be in charge of that business.

Whether you’re an executive, a business owner, you should not be running things. If you can’t figure out how you tie into it, what you’re getting back from it if that makes sense.

But it’s tough, it’s tough to do that.

It’s tough to separate ourselves from all the details. But that’s what you have to do first after you find out and besides the other things we’ve already discussed, after you’ve already kind of decided where you’re at, you got to decide where you want to be.

And there’s another term for this. It’s why are you a business owner?

Why are you going to put any time, effort, money, thought, anything, energy, life energy?

Why would you go and want to do that, there’s no reason to, unless you have a reason, you got to have a reason, though, you have to define that for yourself. on any level possible, you have to define it, you got to put it down on paper, if at all possible.

And it will allow you to be able to show other people what you’re doing and where you’re going. When you’re discussing with somebody or having somebody help you assist you in building your business.

It’s really, really necessary that you get all of these emotions and concepts and ideas and expectations, expectations are the big thing. We all have emotional expectations for things.

Most of us don’t spend enough time paying attention to what they are, but they’re always there. I have one client, an ongoing client, and he has expectations on everything, but he doesn’t recognize it.

He honestly does not see what his expectations are.

So you have to sit him down and say, let’s listen we’ve got to find out what your expectations are because you’re going to hold everybody accountable to those expectations.

You don’t think you have any, but they exist because they always end up coming out. In the end, you always end up finding out what the expectations are, you’ve got to make yourself aware, and you’ve got to make everyone involved in the business in the project and the organization, aware of what the expectations are.

All that stuff has to be put out on the table, it makes it clear, it’s not that they aren’t going to change, it’s not that your goals aren’t going to change, it’s not that the amount of money you’re looking to make isn’t gonna change, it’s not that you’re going to be able to do it in the amount of time you want to do it.

None of that’s true, those will all change its strategy. This is strategy changes. But if you can understand the principle behind the strategy, the principle is to put it out there, so that you can then set it aside and not think about it in a sense, you need it out on the table so that you can go back to it if necessary.

I’ll give you an example.

So that this just happened, and it’s funny how it all correlates with what we’re talking about here. But about a year, maybe a year and a half ago, my wife and I sat down and we kind of laid out where we’d like to be in the next five, six years. And so we kind of outlined kind of the ideal lifestyle where we could see ourselves going.

And we came up with a number we came up with a general scope of how long it was going to take everything else.

I even put it up and I had it, I had it there for a while and then it started looking like things were going to speed up quite a bit things were going really good. And so I kind of set it aside for a bit.

Then was reading a book and reminded me about that principle of going back to it. So I went, I said, instead of going back to the old stuff, I’m going to start from scratch. So I looked at our current budget, I looked at where I’d like to be in each of these different areas of my life.

So you look at you know, your food and your, your shelter, and you know, the house you live in everything else, I’ve just investments, how much money do I need for each of these things on a monthly basis, and then kind of lined it all out and came up with an annual budget.

I said, Wow, that’s a lot higher than I that I would have thought I’m curious how close it is to the other one, go because I’d forgotten, I couldn’t remember the exact number that I’d come up with in terms of, you know, five-year plan.

And I went and grabbed the other one, it was the exact number.

It was the exact amount across the board.

So on track moving forward, but it’s one of those things where you don’t have to have it. In some cases, when it comes to a goal, you want to have it in front of you at all times. But if it’s kind of a long-term goal, I don’t think it’s necessary to have it in front of your eyeballs at all times.

What’s important is that you have it written down is that you have it where you can reach it, when you need to remind yourself and then know what the daily activities are to be able to get there for you and everyone else on your team.

If you’ve got other team members, or if you’re looking to get other team members for your business, you have to know what everyone’s role is, and what the expectations are. All that comes from that initial why read the book, starting with why by Simon Sinek awesome book, there’s a great YouTube, TED talk about it and everything.

But the book it really goes into he just takes the point and just drives it into the ground. It’s great stuff. It’s a good book. I’m not I don’t mean that facetiously it’s a really good book.

Hopefully, that’s all helpful to you another book that’ll help you out with your strategies long-term. But maybe a couple more steps down the road is, 9 ways to Amazon-Proof Your Business.

Once you’ve identified that why and I talk about that in this book, identify you’re why identify why you’re doing it, where you’re looking at going.

Once you do that, then you could take the rest of these steps to help take you down the road hopefully, to getting what you want out of your business because that’s what it’s all about.

In the end, you get a free copy of AmazonProofBook. com.

We’ll be back here tomorrow night.

In the meantime, get out there and let the magic happen.