The Automated Millionaire

Do you have specific goals? Do you have an actual vision for your business and where you wish to take it?

Many business owners aren't really driving their business. Instead they basically just show up, open the doors and switch on the lights, but they really aren't actively driving the activities that will help them achieve a realization of their vision and wishes for their business.

Too many people leave school (what ever level they finished school at), promising themselves that they'll never open a book again.

Oh, what a shame to bring such attitude and what they seem to fail to realize that the reading wouldn't be for others or because they have to read something to satisfy their homework for a teacher, but instead that this reading is in fact for themselves and that they'd be benefiting potentially greatly from reading.

I have been a reader for a long time and have been known for reading a book a day, for long periods of time, and I can tell you, that the insights gained have helped me elevate my worth and what I can charge for whatever it is I do for companies and people.

Perhaps you could gain too.

Continuing our new series on the Mistakes Business Owners make, we will look at the grave mistake that A LOT of business owners are making of not making use of a Budget, but in fact often completely disrepute the value of a budget.

This is a grave mistake, for let's just take a lot at what a budget really is.

Well, one of the extremely important things a budget does for you is to help you map out how you would go about reaching the goal you hope to achieve for e.g. the current year.

It's always been unfathomable for me when I meet business owners that don't seem to make use of their numbers of their business. But this happens more often than not.

So many of the businesses I have helped, made little to no use of their numbers, such as reading their Profit & Loss statement every month. In fact often the business owners would only learn of their numbers come tax season.

Even Chief Financial Officers are sometimes culprits of not consulting the numbers in the business they are serving.

If you want to have a great business it's critical to stay on top of your numbers.

Many business owners don't know how to prioritize in their business.

Sometimes it's because we have no plan at all or haven't spelled out a goal for e.g. the year. Other times, and often, it's because we aren't doing so well, so we have a lot of obligations, typically especially cash obligations, and only a limited cash production. So we lose overview when the troubles keep brewing and become more abundant.

We will discuss how to prioritize and how to make decisions on prioritization much easier.

In our 4th example of Mistakes Business Owners Make, we will be looking at the morning routine most business owners get wrong.

This mistake which I believe by far most business owners make, is absolutely costing far too many far too much money if in fact it's not costing their dreams altogether.

Learn which mistake we are talking about and make sure you course correct what you're doing in your business.

In our third episode on the mistakes that business owners make, we are looking at the mistake of going it alone.

As if life isn't challenging enough, and as if business isn't challenging enough at times, we often forego great opportunities to fast track forward towards the results we wish to attain because we choose to go it alone, when in fact we could potentially have availed ourselves of the expertise and insights of those who went before us.

Far too many people are too proud or whatever to hire an expert or find themselves a mentor who can show what to do and what not to do.

Instead we tell ourselves that we can do it all by ourselves.

Don't get me wrong, part of this mentality is in fact what makes us able to become entrepreneurs, but staying in this path isn't the smartest and certainly not the fastest way to reach the goals we want.

We are currently in our second and new series, this time on the Mistakes that Business Owners make.

I'm highlighting a string of mistakes we do as business owners that all cost us a considerable amount of money and lost efforts in and for our businesses.

It's my hope that by me sharing these insights with you, you may avoid making some of these yourself altogether, or may becomes aware of one or more you're currently doing so you can course correct and stop doing so, so you can gain more out of your effort running your business.

We are starting a new series of episodes in which we will look at the mistakes that business owners make. I have personally made a lot of these mistakes, and they have all cost me money. 

If I'm lucky I'll catch you before you make the same mistakes, so you can avoid wasting money on these like I did.

It's likely though some of you may actually be in the midst of making similar mistakes, in which case I hope this may serve you and help you to "fix" them, so you can save money and make more money instead.

The most successful people I know of, either from having met them or from having studied their successes from afar from books, DVDs, courses or other, all have demonstrated clearly that they have been are continue to be willing to invest in themselves and their businesses. 

Often business owners are willing to invest in their businesses. They buy a new machines or add additional vehicles to their fleet or such, but often when it comes to the willingness to invest in themselves by hiring in expert help to help them make more out of their business, more out of their time and efforts, they often choose not to invest.

I believe sometimes it's because we don't wish to look stupid. We don't wish to admit that sometimes we don't know all the best routes of getting our business to work. We are pretty much shy for lack of a better word, so we just simply choose not to consider that perhaps we could have a so much much better performing business if we got the help to get us there.