When you can’t promise a payment amount and date, don’t; promise what you can, even if that’s only the date and time you’ll next communicate. Target the creditors hurting your cash flow most for comprehensive renegotiation. Take your new business plan and meet in person if possible.
Let’s say you owe XYZ Company $20,000, all past due. You might get that $20,000 switched from a trade payable to a long-term, five-year installment note, interest only for the first year, and agree on new purchases to pay one-third with order, one-third on delivery, and one-third in 30 days. Facing trouble head-on, more often […]
If your success game plan features being right 100% of the time and never making mistakes or your fragile ego demands never getting egg on its face, you’ll be playing the game only for a short time, timidly, and without distinction. The ironic fact is, the game is won by losers. If you aren’t floundering […]
Too many people get into business only to discover they’ve acquired a new, tougher, more demanding, more stressful job, and they cannot see any way to change it.
From day one, if your business is to provide security, freedom, and wealth, you should be working at weaning the business from dependence on you and creating dependence on systems. I’ve appeared as a speaker on several programs with Michael Gerber, author of the best-selling book ‘The E-Myth’. His advice is to systemize the business […]
“Yes, you need to break the Money-Work Link if it is ingrained in your thinking, in a dollars for hours way, or a pain as price tag way, or a long and difficult and unpleasant path way. But, on the other hand, you need to think of work as a good thing – not some evil to be avoided, like tofu.” Dan Kennedy
“Using what I call ‘psychological triggers’ like the filled in check to yourself drawn on ‘The Bank of the Universe’ is useful only in providing focus, motivation, and encouragement to actively, diligently and courageously work to then achieve. Otherwise it is silly.” Dan Kennedy
You sacrifice to achieve goals, or you sacrifice your goals. You go to the library or bookstore, or you go to the bar. You invest or you spend. You conserve or you waste. You hang out with losers, or you seek association with winners. Dan S. Kennedy
Five of the most successful CEOs I know have five dramatically different management styles. Their relationships with their people are different. Their belief about leadership are different. Their companies’ environments feel different when you walk in. There is more than one right way. My way, what works for me, may very well fail miserably for […]
Nobody gets rich dusting shelves, changing light bulbs, keeping books, or managing employees. Yet I’m amazed at how many entrepreneurs let such things suck up all their time, focused on everything and anything but sales and marketing. Dan S. Kennedy