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Thinking Bigger: Double Your Success

entrepreneur, business, business ideas, think bigger

I recently went on a vacation during spring break to Florida with a friend and his business partner. They rented an amazing house on the ocean. The house was 8,000 square feet, had 8 bedrooms, 7 1/2 bathrooms, and an infinity pool. It was right on the ocean with surround sound speakers and climate control for every single room. It was an absolutely stunning place.

When we were there, the three women would go out and exercise in the morning. The three dads stayed back to fix breakfast for all the kids. When the ladies returned, it would be our turn to go exercise. We would start off with a run on the beach for two miles, which, if you’ve ever had a run on sand, is almost impossible to do. In between, we would do pushups.

Lesson Number One In Thinking Bigger

I dropped down to do pushups. I was going to do my normal set of 20. My friend ended up continuing his pushups even after I’d stood up. “How many are you doing?” I said. He answered, “40.” I said, “Okay. There we go. I gotta do more.”

We continue to run about another half mile down the beach, and then we make a left. We start running away from the water and I look over. It’s a gated community of all single-story ranch houses in a retirement community. I said, “How great would it have been in 2008 to have the extra capital to buy some of these?” He said, “You mean buy some of these subdivisions? Or the land to build a subdivision?” I said, “No. To buy one of these houses and rent it out.” There was lesson two in thinking bigger.

As we jogged up, we made a left on the main drag. We started heading back towards our compound, which was another two miles. In between there, we stopped and did three more sets of pushups, of which I still only did 20 and he did 40, until the last set, which he couldn’t do. I need to think bigger.

Think: When You Have An Idea, How Can You Double It?

I didn’t realize it at the time but what I thought was thinking big just got doubled. So I am going to start to think bigger and challenge myself that when I think I have an idea, how can I double that? What’s also funny is his wife, who when every time he brings up something, she always says, “Add a zero. Add a zero.” This makes total sense.

How could my other businesses in the past have been bigger and better? If I were able to double what we were doing and add a zero, we would’ve grown much bigger. Instead of a $79 a month subscription to the last company we had, what if it was $790 a month?

Going forward, I’m going to challenge myself to think bigger.

Who do you have in your life who challenges you to think bigger?

The Passionate Business Owner Vs. Cutting Corners

The Difference Between Cutting Corners & Streamlining Your Business

I have worked in the past with a lot of different business owners from the financial industry, to restaurants, and salons, to retail. You can really tell the difference between business owners that started because they’re passionate about the business. You can also spot business owners who go into it because they think that there’s money in it. I’ve met a lot of business owners that go into it because they think there’s money involved just to figure out how to cut corners and streamline their business.

There’s a huge difference between cutting corners and streamlining your business. I look at some of my current clients that I have and streamlining operations is critical to scaling and getting larger, but they do not cut corners then I look at some of them that are all about cutting corners and they call it streamlining. I think the big difference between cutting corners and streamlining is your client’s best interest, your own laziness, and productivity.

Don’t Cut Corners Unless You Want To Cut Customers

Let’s take each of those. If you look at laziness, there are people that say I just want to be as hands-off as much as possible. They’re even willing to cut corners to put less work on themselves, which does not get the end result for their client or customer. If we look at productivity, it is okay to dissect your operations to make them streamlined and more productive for yourself and also for your customer base.

Whether that’s your marketing, or that’s your ordering, or that’s your workflow for each individual client, that is a win-win for both sides. But you should do it without focusing so much on yourself and instead using the lens of investing more time in an effort to perfect the end product or service. You should make it with the lens that your customers will get a better outcome because of the changes that you can make. Don’t cut corners unless you want to cut customers.

Innovating A Non-Tech Industry: Brainstorming Business Ideas

The Right Idea For The Right Industry

I’ve been looking for my next business move and/or companies to start. I’ve brainstormed a few ideas. In fact, I was sitting down with a co-worker a few months ago and he asked why I had not made a move yet. He said, “Is it time? Is it money?” I said, “Nope. It’s the idea. I have not found the right idea. I’m much more cautious now after failing and having picked the wrong partners in the past.”

Innovating An Age Old Industry

I listen to a lot of podcasts and I read a lot of books through Audible. You know this from reading my blog. Finding a need has become more and more apparent in the success of innovating a market and revolutionizing an arena to which we are already accustomed. that I have or finding an industry that is old that has not had a lot of technology. I heard a podcast by Tim Ferriss. He spoke with a guest named Adam Robinson about the ball bearings industry. That got me thinking about other very old industries.

Take a look at Uber and Lyft. The taxi industry hasn’t been changed in 50 or 60 years. Then Uber and Lyft came in and just flipped them upside down. Even the music industry, you used to have to buy physical CDs or go to the concerts to hear the music. Now you have Pandora and you have YouTube. What industry is like that? I think about making pencils or making sewing machines or what other very industrial non-competitive markets are still open.

Fulfilling A Need Is Key

To summarize, it comes down to those two needs. Either the needs that I have, or what is very old school and in a non-tech industry and could be advanced by technology.

Going back to my co-worker, I just haven’t found the right idea and I’m much more cautious with the partners that I choose. That’s why I have not yet started a new company.