Featured Coaching Excerpt - Notes & Transcript, Part 1
Step #1: Understand That Nobody Cares More Than You
Notable Quotable: "You must take personal responsibility. You cannot change the circumstances, the seasons, or the wind, but you can change yourself. That is something you have charge of.” -Jim Rohn (American entrepreneur, author and motivational speaker. His rags to riches story played a large part in his work, which influenced others in the personal development industry. - Wikipedia)
Lesson Nugget: Nobody is going to care about your business more than you.
Action Step: Find 10 things you can stop spending money on to cut down expenses.
(rap music) Okay, step number one, understand that nobody cares more than you. Clay, I wanna tee this up here for you. This is from Jim Rohn. Okay, Jim Rohn, come on, lay it on me.Coming at you, Jim Rohn, he says, "You must take personal responsibility, "you cannot change the circumstances, the seasons, "or the wind, but you can change yourself. "That is something that you have, "that you are in charge of." Here's the deal, when you think about cutting costs, just understand the world has a bias to spend money. So, as an example, if you think about Thrive15, if we think about the elephant in the room, the haircut business I'm involved in, if you think about the photography company I'm involved in, guess what happens. People consistently want me to buy stuff. They consistently go, "Hey, can we get new drinks "on the coffee bar? Hey, can I get this new gizmo? "Hey, can we get this new cord? "Hey, can I get this new adapter? "Hey, can I buy this new widget? "Hey, can I buy this thing?" And you have to understand that nobody is going to care as much as you, ever. Nobody's gonna care. So you have to every single week push back against the natural progression, the natural forces of business. By default, you're naturally going to spend more and more money every month just because people keep asking, and you have to say no, and you have to understand that nobody's every gonna care like you care. I mean, I'm just telling, you could be in a business where you have partners, and unless somebody is paying an equitable percentage, they almost universally do not care about expenses. You have to care about the expenses, you have to. So understand nobody cares more than you, and I want you to right now as an action step, go ahead and pull out your credit card statement, or pull out your bank statement, however it is that you look at where you're spending money, and look at it, and I challenge you, find ten things to stop spending money on right now, do it. So are you saying they're, I mean, when people are spending money that's not theirs, or it doesn't directly affect their financial burden, probably you aren't gonna care as much. I call this the whole buffet theory.Okay.This is buffet budgeting.Yeah.Guy goes to the buffet, and he's like, "Well, I feel full, I feel really full, "God, just you know," so he's like, "Well, and I could probably do another though, "I could probably do one more round. "I could probably go through that buffet one more time." Why? Because you bought a buffet ticket and now you feel entitled to come back and have as much cheesecake as possible. You know you shouldn't have it, but you keep going back because it's a buffet, and you want to have as much as possible, and that's how people spend your money. No one cares like you care. You've got to cut your costs. Okay, so you have to cut your costs. Step number one, understand that nobody cares more than you. You have to have this mindset, you have to have this mentality if you're going to... Gotta fight.be a judicious dealer of your finances within the business. Absolutely.