Business

(Wisdom on Diversifying Your Income from a Surprising Source)

beautiful little girl plays

I had an interesting coaching conversation last week.  It was about money.  “We have re-budgeted and cut just about everything I know to cut,” he was saying, “and we are barely squeaking by.  How else can I cut my budget when we’ve done all the cutting we know to do?”  I should add that he was trying to avoid cutting his giving to his church.

My reply went something like this:  “A man much wiser than I once told me that he found it important not only to budget his expenditures, but also to budget his income.  Maybe in an effort to balance your budget, you’re looking on the wrong side of the ledger.”

“What does that mean?” he asked.

“Your salary is pretty fixed,” I said, “but your wife has two different sources of income where the results vary.  By seeing just 10 more clients a month (not a week – a month), you will realize the difference you’re looking for.”

His whole brain re-shifted.  Changed his whole perspective.  “I hadn’t thought of that,” he said.

There was a lot of energy in that conversation, and I felt useful.  And while I mentioned to him the sage advice I received from the businessman, what I didn’t mention at the time was that what most changed my perspective was a girl. [click to continue…]

{ 2 comments }

(A Conversation)

InterviewDon’t confuse your business with your delivery system.

What do you mean?

Your “business” is the value you bring to people. Your delivery system is the way you deliver it.

Okay… I’m still not sure I get what you’re saying.

Okay, let illustrate it.  Let’s pretend it’s the year 1900, and you own one of the dominant businesses of the day – a railroad company. What’s your business?

Railroads?

AAAANNNNK!  You lose. Twenty years from now you’ll be out of business and replaced with trucks.  Anyway, who gets up in the morning wishing somebody would give them a bunch of steel and cross timbers?  Let’s try it again.  What business are you in?

Uh, transportation?

Good.  You may survive this after all.

Okay that makes sense, I suppose.  But I’m not a business owner.

Of course you are. [click to continue…]

{ 1 comment }