We shared our experiences on the journey to designing a life we love, the challenges along the way and how one simple exercise can completely change your life.
When I first picked up Kristina’s book, it was a great reminder to start dreaming again and to write down what my dream life would look like – an exercise that has truly changed my life.
Her reason for writing this book was to inspire and empower as many people as possible to discover and chase their dreams. It’s a dream of hers to inspire 101 million people to write down three dreams on paper and go chase them.
Listen to this episode of Kristina’s podcast to learn:
Why it’s so important to know that it’s possible for you to design & create the life of your dreams.
Why the best place to start is to take time out to dream up how you want your future to look.
How knowing what your highest values are will guide you to make great decisions in all areas of your life.
How sometimes all you need is a little spark of inspiration from a book, a workshop or a trusted friend.
How my book Your Dream Life Starts Here is a great place to start.
The importance of travel.
How supporting your children’s dreams can have a massive impact on their lives.
How amazing it is to do what you love every day.
How to turn a daily walk into a great learning opportunity.
The amazing power of sharing your dreams with others.
https://davidleeschneider.com/wp-content/uploads/2022/10/dream-life-podcast-david-leeschneider-marketing-kristina-karlsson.jpg7321096David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2022-10-14 16:47:132022-10-15 09:07:39Your Dream Life Podcast with Kristina Karlsson and David Lee-Schneider
Running a business is a lot like navigating a ship. We move forward into the deep unknown, conquering small currents, big currents and all kinds of obstacles. And more often than not, we do this without a lot of guidance. We simply keep moving forward, learning as we go, in the hope that somehow we will arrive at our destination.
The big question is, however…
Do we actually know what our destination is? Do we have a clear idea of where we are heading? And do we know when we have arrived?
When running a business, day in and day out, it’s easy to get caught up in the operation, without ever really thinking about where we want to end up. Maybe you never had a clear idea of what your destination is, taking it one day at a time. Maybe you did have a clear direction at the start but simply lost track. Or maybe your dreams and goals have changed completely and it’s time to redefine them.
When I first started out in business, I always heard business coaches and successful entrepreneurs talk about the importance of having a clear vision. It all sounded great, but nobody told me how to actually create one. It has always been this abstract thing that every business owner needs, but nobody knew how to go about it.
It wasn’t until one of my business mentors taught me how to create a clear vision for my business that I truly understood how powerful it really is.
A clear vision is a compass in your business. It’s the guiding force that keeps you on track when you are sailing through rough waters, you’ve lost your way, or when you feel pulled in different directions. So, how do you get clear on what you want in your life and business and turn it into a compelling vision?
How to write a business vision
Here are 3 steps to creating a vision for your business that will help you gain more clarity, increase your motivation and ultimately live a happier life.
1. Define Your Values
You can’t write a great vision without first getting clear on your core values. What are core values? They are the things that you care about deeply and that are absolutely uncompromisable.
Take some time to think about everything that matters to you. Write everything down. Don’t leave anything out. You might want to ask yourself these questions.
What really matters to me?
Why am I in business?
What do I stand for?
Write down all the answers you can come up with. Try to aim for at least 30 answers or more. When you really can’t think of anything else, it’s time to group what you have written into 3-6 words that will represent and encapsulate all your answers.
Here’s an example of how you can group your values
You might have gone into business because you are looking for financial freedom. But also because you wanted to travel more or spend more time with your family. In order to do that, your business needs to be able to run without you. You’ll need to be able to physically remove yourself from the business. Because ultimately, all three things mean “Freedom”, you could make that one of your core values.
Once you grouped everything that’s important to you into 3-6 words, order them by significance and write a short paragraph for each of your core values outlining what it encompasses and means to you.
You now have a set of core values that you can refer to every time you need to make a decision in your life or business to make sure it aligns with what truly matters to you. I suggest you print out your values and put them somewhere visible, so you can refer to them frequently.
2. Start Dreaming Big
Step one was about your needs. Needs that need to be fulfilled in order for you to be happy and live a balanced, purposeful life. Step two is about your wants. Make a list of everything you can think of that you want to have, do or experience in your lifetime. Do you want to skydive (I highly recommend it)? Are there any particular places you want to see? Any special people you want to meet? Any particular achievements you want to make happen?
It’s important that you don’t limit yourself when doing this exercise and simply allow your creativity to flow. Get creative. Don’t overthink. Don’t get caught up in your beliefs of why you can’t have or do a certain thing. If you dream about it, put it on paper!
Here are two questions that might help you.
What would I do if I knew I could not fail?
What would I do/have if I had all the time and money in the world?
3. Write Your Vision
Now that you are clear on your core values and allowed yourself to dream for a while, it’s finally time to craft a compelling vision for your future. A story that you can read to yourself from time to time (or daily) to remember what you are doing it all for.
Keep in mind that this is your personal vision for your life, so make sure it speaks to you. As you learn and grow, your goals and vision might change, too. That’s perfectly fine. Take some time each year to review and rewrite your vision, add anything of importance to you and take out those things that don’t really matter anymore. You can simply start like this:
“It’s 3 years from now and…”
Then describe in detail what you want your life to look like. Use present tense and write as if these things have already happened. Describe how it makes you feel. Feel into the moment as if you are already living this life. The clearer the picture you paint, the more powerful it will be when you read over it again in a few months.
Have you ever tried to identify your core values or written a vision for your business before? What’s your experience? How has it helped you? Do you find the above exercises helpful? Leave me a comment below! I’d love to hear your thoughts.
https://davidleeschneider.com/wp-content/uploads/2019/01/david-leeschneider-how-to-write-business-vision-values.jpg9331400David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2019-01-21 09:50:492022-03-31 08:30:55How To Write a Business Vision: Gain Clarity & Motivation In 3 Easy Steps
If you’re anything like me, you probably love books! A great book can offer us a glimpse into the vast knowledge and experience of an expert in any field we choose to deepen our understanding, and we often learn a lot about ourselves while exploring new topics.
If you’ve met me before, you may have seen me with headphones glued to my ears. I listen to audiobooks pretty much everywhere I go, always looking for little nuggets that have the power to transform my thinking. I firmly believe, when we upgrade our thinking, we also upgrade our lives as a result.
Whatever it is you’re looking to improve – whether it’s your business skills, personal development or increasing your emotional intelligence, this list of timeless must-reads is for you.
So, here they are, my all-time favourite audiobooks (in no particular order) that I personally love and which I have recommended on many occasions. Enjoy!
5 Insanely Valuable Audiobooks For Guaranteed Business & Personal Growth
This was one of the first-ever self-development books I read in my life. It surely has transformed my thinking and my views on life. I must say, for this particular one, I preferred the hard copy book over the audiobook. It’s got some great tools and exercises to help you redefine your life and to go outside your comfort zone and push your limits. It’s definitely at the top of my personal favourites.
iTunes Description: If your dream is escaping the rat race, high-end world travel, monthly five-figure income with zero management or just living more and working less then this audiobook is the blueprint. Forget your tired, old retirement concepts and throw out that deferred-life plan – there’s no need to wait and every reason not to. You can have it all! This audiobook is the compass for a new and revolutionary world. Start living now!
Beautifully narrated and creatively brought to life, this audiobook is both, informative and entertaining. The information herein will be life-changing if one can grasp the essence of it. I have gifted this book to many people and listen to it again every few months to remind myself about the great lessons in it. Highly recommend this version of the book, as it’s easy to listen to in about an hour without losing its essence (the original version of The Richest Man in Babylon goes for a few hours).
iTunes Description: These two parables – one ancient, one modern – contain time-tested secrets that will put you on the road to happiness and prosperity. They offer simple, yet powerful truths about the challenges we all face, and must overcome on the road to success. The Richest Man in Babylon: George Clason’s motivational classic story of Arkad, a man of humble origins who became the richest man in Babylon. In dialogue with his fellow citizens, he reveals the attitudes and behaviour that brought him wealth and happiness. The Magic Story: What turns a loser into a winner? Jay, a down-on-his-luck writer, sees his once struggling friend Sturtevant transformed into a man of supreme confidence and achievement. How did his friend do it?
During a time when I could barely get out of bed in the morning, this book has helped me to redefine my purpose and given me new motivation. It teaches why we feel certain emotions, the biochemical processes behind the reason for why we subconsciously decide to put ourselves into a negative state and how to break this crushing habit of self-sabotage and depression. This is a book I would recommend to everyone, as it deals with the underlying thought processes and behaviours that determine our emotional state, and ultimately our actions.
iTunes Description: You are not doomed by your genes and hardwired to be a certain way for the rest of your life. New science is emerging that empowers all human beings to create the reality they choose. In Breaking the Habit of Being Yourself, renowned author, speaker, researcher, and chiropractor Dr Joe Dispenza combines the fields of quantum physics, neuroscience, brain chemistry, biology, and genetics to show you what is truly possible. Not only will you be given the necessary knowledge to change any aspect of yourself, but you will be taught the step-by-step tools to apply what you learn in order to make measurable changes in any area of your life. Dr Joe demystifies ancient understandings and bridges the gap between science and spirituality. Through his powerful workshops and lectures, thousands of people in 24 different countries have used these principles to change from the inside out. Once you break the habit of being yourself and truly change your mind, your life will never be the same! This audiobook comes with bonus downloadable content. Please go to www.drjoedispenza.com/bhby to download this material.
Hal Elrod’s philosophy is simple. The way you start your morning, determines how your day pans out, and ultimately, your life. This might sound overly simplistic, but this book has the power to transform your life into a miracle. It clearly shows how important it is to proactively design your life and create habits and rituals that support us in our journey to fulfilling our true potential. The Miracle Morning gives you a clear road map, as well as the specific tools to do just that.
iTunes Description: What if you could miraculously wake up tomorrow and any – or every area of your life was transformed? What would be different? Would you be happier? Healthier? More successful? In better shape? Would you have more energy? Less Stress? More Money? Better relationships? Which of your problems would be solved? What if I told you that there is a “not-so-obvious” secret that is guaranteed to transform any – or literally every area of your life, faster than you ever thought possible? What if I told you it would only take 6 minutes a day? Enter The Miracle Morning. What’s now being practised by thousands of people around the world could perhaps be the simplest approach to creating the life you’ve always wanted. It’s been right there in front of us, but this audiobook has finally brought it to life. Are you ready? The next chapter of your life – the most extraordinary life you’ve ever imagined – is about to begin. You deserve an extraordinary life. It’s time to wake up to your full potential.
Stephen Covey’s 7 Habits of Highly Effective People is one of those books that you can read again and again, and each time learns new things you didn’t pick up previously. This book is full of incredible life lessons that are guaranteed to enrich your personal relationships, in business and personal life. I have read this book four times and will be reading it many more. Highly recommended. This version of the book is a condensed one and also includes the sequel by the same author, The 8th Habit.
iTunes Description: This new audio set is a very special abridgement of two of Stephen R. Covey’s best-selling business books, The 7 Habits of Highly Effective People and The 8th Habit, read by Dr Covey himself. We’ve condensed the content of two entire books into just three hours of audio, but you’ll still enjoy Dr Covey’s lessons on powerful personal change and how to incorporate his ideas into your life to fulfil your ultimate potential.
What are some of your favourite books when it comes to business and personal development? Let me know in the comments below!
https://davidleeschneider.com/wp-content/uploads/2018/12/best-business-audiobooks-david-leeschneider.jpg9331400David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-12-27 08:57:522022-03-20 22:43:305 Audiobooks For Business & Personal Growth That Will Change Your Life Forever
When I turned six years old, I had already seen more than a dozen martial arts movies. From Bruce Lee and Jacky Chan to Jean-Claude Van Damme and Michael Dudikoff, I knew them all.
One thing that had always fascinated me, was the relationships the heroes in those movies had with their masters. They were more than just teachers. They were mentors. Inspirational, guiding role models who would not just teach the ways, but more importantly the whys.
It wasn’t until I was ten years old, and after three years of Taekwondo training, that I randomly got sucked into a documentary about the Shaolin monastery in Henan, China one evening, as my mother and I were watching TV. I don’t recall the name of the film, but I was inspired and hooked. I learned that most students in Shaolin would start training at the age of six, some were only four or five. I was ten, which made me feel old. “I should have been there years ago“, I thought to myself. If I wanted to keep up, I had to go now. So I made a plan. All I needed to do was let my parents know and off I went, right? Well, not exactly. I had a reputation for coming up with some crazy ideas, so it took some time for anyone to believe that I actually meant business. In fact, it took me months of determination and not letting go of my crazy idea, before my parents finally realised that something was different. This time, I was serious and would not give up. It was more than yet another crazy idea. It was a dream.
Once I had planted the seed of even just the possibility in my mum’s head, she started asking question after question: “What about school? What if something happens to you? What if you get sick? What if you want to come home after a few weeks?” – The list went on and on. Luckily, I somehow always had a good answer ready. And once it was clear that not going wasn’t an option, we were left with the question of how to make it happen. My once crazy idea had finally been accepted. My dream had become a possibility…
However, in 1994 this wasn’t a trip you’d simply book on Expedia.com. We didn’t have an internet connection back then, but somehow my mom managed to find the phone number of the Shaolin temple. Yes, the Shaolin Temple actually had a phone number! There was one phone for the entire monastery. But even after repeated attempts, my mum realised that it was simply impossible to communicate my crazy idea over the phone with the few words of Chinese my mother knew at the time. Nobody spoke English either. Nobody understood what we were even trying to ask. We needed a change of plans. If the telephone didn’t work, there was only one way to get our point across. We actually had to go to see the monks in person. So, my parents decided to take my little sister and me on a holiday to China, to stop by the legendary Shaolin temple and find out if I would be allowed to stay for a year. It was a huge challenge. The first time we visited, we were welcomed by the friendly monks with big smiles and green tea, but my wish was turned down with a friendly smile. Clearly, it was over. The end of the road. Here we were, having travelled all the way from the other side of the world, and all we got was ‘no’. I was heartbroken and felt guilty to have put my mum through all this effort, just to be turned down.
I thought “we are going back home. Back to life as usual”. “It’s not over yet!”, said my mum, full of hope and with determination written all over her face to make my dream a reality. For nearly a week, we returned to the monks, day after day after day. Each time we visited, I noticed a slight change in the air. We were slowly building a relationship. It was absolutely surreal. Each time we would enjoy a cup of green tea together, laugh together – all with almost no Chinese language skills – and each day I felt a little more accepted into the circle. ‘No’ became ‘maybe’, and finally turned to ‘YES’. It suddenly hit me. My dream was no longer just a dream. It was real! I was excited and scared at the same time. I realised that I had reached the point of no return.
I started my training the very next day, and boy, my three years of Taekwondo were nothing compared to my first week of Shaolin Kung Fu. After a few more days of settling in and getting used to the environment, it was time for my parents to leave and go back home. Here I was, by myself, in a foreign country, at the age of ten. I stayed for the entire year and it was an unforgettable experience. Sure, I had many ups and downs, but every day I learned something new. About Kung Fu, Chinese culture, about people, and mostly, about life.
Most people called my parents crazy for leaving me there alone. I, however, couldn’t be more grateful to them. It’s only now, twenty years later, and as a parent myself, that I truly understand the amount of courage and unconditional love it would have taken to trust and let go of your child in such a big way. I feel humbled, proud and forever grateful for having had this opportunity of a lifetime, which has forever changed my life and still, to this day, influences my decision-making.
I would even argue that this single year of living by myself, in a foreign country, immersed in a totally different culture, has given me more than my twelve years of traditional education. I’d like to share five big lessons that I have taken away from my year in Shaolin.
Five life lessons I learned living with the Shaolin Monks
1. Thoughts become things.
“The mind is everything. What you think, you become.” From an idea sparked by a film, I made a conscious decision to make this my new reality. But it was only through persistence that I was able to reach my goal. Your thinking determines your actions and your actions determine your outcome. The right mindset can move you towards everything you desire. The wrong mindset, however, will deprive you of your dreams and result in despair and frustration. By changing your thinking, you will change your life.
2. Who looks inside, awakens.
“The way is not in the sky. The way is in the heart.”
I followed a strong desire inside me. Nobody asked me to go. It was a decision I made with my heart, not my mind. If I would have been rational, it would have never happened. Don’t be rational but trust your heart to make decisions.
3. No one can walk your path for you.
If you wait for others, so will your opportunities. You have to be the initiator of your own dreams. When you start to follow your heart, doors will open and the right people will show up to support you. True love will always find a way. Stay true to yourself and choose your own path.
4. Don’t believe everything you are told to believe.
Before my journey, not many people believed me when I told them about my plan. Your reality is not my reality. Don’t be discouraged by anyone who tells you that something is not possible. It is simply not part of their reality. You create your own reality. Choose to believe whatever brings you closer to your goals. Discard any beliefs that will lead you away from your goals.
5. Look for peace within yourself & let go of attachment
As a child, I had a lot of “stuff”. Toys, games, all sorts of things that we are taught to believe will make you happy. During my time in Shaolin, I had a few clothes, a bed, and daily kung fu training. I soon realised that “stuff’ wasn’t contributing to me being happy. It would only distract you from facing the truth. Distract you from looking deep inside you to find out who you really are. What really matters to you. Do not look for peace around you for it originates from within.
I hope that my story inspires you to step outside your comfort zone and chase your own dreams, whatever they may be. The truth is, we never know how much life we’ve got left, so we may as well live it.
Live life on your terms. Live with passion.
Watch the documentary about David’s year in Shaolin:
Mit 11 Allein in China: Der kleine David im Kloster Shaolin
https://davidleeschneider.com/wp-content/uploads/2018/07/david-lee-schneider-shaolin-1995.jpg13501800David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-07-04 11:26:352022-12-22 22:44:195 Things I Learned Living With The Shaolin That Changed My Life Forever
TED Talks are geared towards spreading ideas using short, powerful talks. The talks last no more than 18 minutes each, are factual and entertaining. Initially, they revolved around Technology, Entertainment, and Design (hence the name TED) when they started out in 1984.
Today, the talks touch on almost all areas of life and business.
As business owners, we can learn a lot from watching many of these talks and gain valuable insights. The good news is, the talks are freely available on TED.com.
TED Talks For Business Owners
Here are my top TED Talks every business owner should watch, in no particular order. Enjoy!
1. Cameron Herold: Let’s Raise Kids To Be Entrepreneurs
Cameron Herold, who founded COO Alliance, gave a TED Talk entitled, “Let’s raise kids to be entrepreneurs.” In his words, the traditional system of education does not encourage kids to be entrepreneurs. He believes that we should change the system to produce more entrepreneurs.
2. Nirmalya Kumar: India’s Invisible Innovation
Nirmalya Kumar’s TED Talk focuses on the link between business and innovation. As most business owners know, running a business successfully requires a good dose of innovation. A business that constantly develops new products and processes has a higher chance of success.
3. Simon Sinek: How Great Leaders Inspire Action
Eight years ago, Simon Sinek gave a TED Talk on the role great leaders play in inspiring action. The lessons from that talk are still relevant today. Company leaders call the shots. CEOs determine the direction a company takes.
A leader determines how successful a company’s digital marketing campaign shall be.
4. Regina Hartley: Why The Best Hire Might Not Have The Perfect Resume
What makes Regina Hartley’s TED Talk a must watch for entrepreneurs is the advice she gives on the role of a resume in hiring or not hiring a new employee. Entrepreneurs put too much focus on what is on the resumes.
They forget that the resumes never capture all the important details of a prospective employee.
For example, the resume may not tell an entrepreneur everything the prospective employee did in creating a marketing automation software. A perfect resume may keep us away from one who has overcome great difficulties and challenges to get here.
5. Philip Evans: How Data Will Transform Business
The TED Talk Philip Evans gave in 2014 was designed to help businesses understand the role of data. We have to understand the transformational ability that data has in any business. We can no longer ignore analysing the importance of technology and data for running a business.
After all, marketing automation, like all types of technology, depends on data.
6. Seth Godin: How To Get Your Ideas To Spread
Seth Godin’s TED Talk was titled “How to get your ideas to spread”. In that talk, we understand the importance of using bizarre ideas in marketing. Good and boring ideas are not always productive. Bizarre ones, on the other hand, capture and retain customer’s attention.
These must-watch business TED Talks are a great start for any entrepreneur who is wanting to learn and grow themselves and their business.
What are your favourite TED talks? Please share the link in the comments below.
https://davidleeschneider.com/wp-content/uploads/2018/06/best-ted-talks-for-business-owners.jpg9001600David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-06-08 15:18:472022-03-30 03:41:016 TED Talks Every Business Owner Should Watch
If you pay attention to entrepreneurial culture, you may start to notice a few daily trends among successful entrepreneurs. You may not be the ‘waking up at 4 a.m.’ type of entrepreneur but you may learn a thing or two from them. Below are some things smart entrepreneurs do on a daily basis.
1. They Plan Their Day
When you venture into the entrepreneurial life after working a 9 to 5, you will have so much time on your hands that you will not know what to do with it, literally. Instead of spending your newfound free time on Netflix, you should be growing your business. Successful entrepreneurs plan their days out so they know what needs to be done at what time to optimize their time. This is considered as the top thing smart entrepreneurs do on a daily basis.
2. They Take Time Off To Recharge
You may think that as an entrepreneur, there is no time to waste on rest but you need to know when to take a break. There is a difference between working effectively and working. Successful entrepreneurs usually have a strict work schedule, but they also have time off from their work and it does not eat into their work. You can switch off from work to help you find happiness in other things aside from work. Also, ensure you get enough rest or take time from work so you can recharge and get a new perspective on things.
3. Smart Entrepreneurs Focus On Self-Development
Successful, smart entrepreneurs also use methods like coaching, mentoring, workshops, courses, audiobooks, and podcasts to enhance self-development. You need to keep learning in order to continue growing. Once you become an entrepreneur, invest in self-development and your own education. It helps you learn more about business and become more self-aware so you can grow professionally and personally.
The fastest way to learn is to connect with other entrepreneurs who have already done what you are trying to achieve. Join a network of like-minded business owners to connect with and learn from others.
3. Smart Entrepreneurs Outsource
You will get to a point in your business where you will feel the need to start outsourcing tasks because you are tired and cannot grow, but worried about making enough money to cover outsourcing. This is the ideal time to start. Successful entrepreneurs have admitted that outsourcing to experts was a turning point for their business allowing faster growth and bringing in more income than before.
4. They Have A Way Of Keeping Up with Their Inbox
Outsource your inbox or schedule time to check emails and respond to them to avoid becoming a slave to it. Smart entrepreneurs turn off email notifications to resist the urge to keep checking each one as it comes in.
You can easily slip in this department as an entrepreneur because you may become caught up in your daily activities and end up eating a couple of snacks throughout the day. This also boils down to planning your day; schedule eating times and go as far as planning your meals and preparing them in advance.
6. They Take Time for Themselves
Everyone needs to take time for themselves regardless of how many hours he or she works or sleeps. Successful entrepreneurs schedule time for themselves for quiet time to meditate or read a book. You may also need to be away physically once in a while for a holiday; make sure you schedule it in so it does not clash with your business activities.
7. They Use Time Chunking To Be More Productive
The idea here is that a task can take as long as the amount of time you have allocated to complete it. Schedule a specific amount of time to complete a specific task and you will be able to complete multiple tasks without procrastinating and with laser focus. Successful entrepreneurs have attributed this method to their increased productivity.
What’s something that you do regularly to stay on track and up your productivity? Let me know in the comments below!
https://davidleeschneider.com/wp-content/uploads/2018/06/Untitled-design-2.png4201200David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-06-08 13:52:432020-06-27 15:24:53Seven Things Smart Entrepreneurs Do Daily
In Australia, more than 60 per cent of small businesses fail and cease operating within the first three years of starting out.[1]
This fact is too often ignored by enthusiastic entrepreneurs who all believe they have what it takes to build a successful business.
When I started my first business at the age of 21, I had all the right reasons for why I would succeed. Well, guess what? I lost thousands of dollars because I was overly confident and naive.
In other words, I didn’t know what I didn’t know.
Looking back, I now know that the main reason I failed was because of a lack of marketing skills at the time. I had a good product that people were actually buying, however, I wasn’t able to reach enough of the right audience to make it profitable.
7 reasons why your business is (probably) going to fail within your first year
In this article, I’m sharing common mistakes in the hope that you can learn from them.
1. You are not testing the market
It’s easy to assume that your product will sell and that everyone is going to love it. All your friends and family are probably telling you how great your idea is. What would they say though, if you asked them to pre-purchase your product and actually hand their cash over? Test it out. If out of 10 people no one buys it, it’s probably a bad idea.
2. Your numbers simply don’t add up
Chances are, the profit margins for your awesome product are just not high enough. Did you really think if you bought these cool t-shirts for $10 and resell them for $20 you made a $10 profit? If you are serious about building a business, here are just a few things to consider: Taxes, accounting & bookkeeping fees, advertising costs, Marketing and promotional budget, rent, utility bills, shipping & returns, plus all the time required to build a profitable business.
3. You give up too early
It’s all exciting when starting out as an entrepreneur. Until you hit a brick wall. There will be many obstacles along the way and sadly most people simply give up as soon as the first challenge arises. It’s all too hard and staying in your job is just too comfortable.
4. You waste your time working on the wrong things
Yeah, no. Your logo and letterhead can wait. Start selling first. If it works you can start worrying about the cosmetics. You don’t need to spend hundreds or thousands on a fancy website either. Keep it simple and prove that your idea works on a small scale before you start going global.
5. You are lacking focus or simply focus on the wrong things
It takes focus to get a new business off the ground. Lots of focus. You need to have a plan of what your business is going to look like in a few months, as well as in a few years from now. Then, break your plan into smaller chunks and focus on staying on track. If you are like most young entrepreneurs you are probably working on the next project, even before you’ve seen any results. Stay focused. Also, instead of focusing on money, focus on adding value to your customers’ lives. If you can add enough value, the sales will come naturally. Steve Jobs, the founder of Apple, was a genius at creating things that people want. The sales were a by-product of Apple’s early success.
6. You don’t have the right toolbox (or no toolbox at all)
If you are a mechanic and want to build a car from scratch, you are going to require some serious tools. You’ll also need to know exactly what tools you require to get the job done. Your toolbox as an entrepreneur might look a little different, but there is no doubt that you will need one. Do your research on what you really need in order to achieve your goals work hard on getting smart.
7. Did someone say goals?
A shiny new product in a pretty box is not a very good goal. After all, you didn’t go into business because you wanted to sell pretty boxes. You went into business to live your passion, make money, and enjoy the freedoms of a successful entrepreneur. Be very specific and clear about what freedom means to you personally. Then work on those things that truly make an impact and help you achieve your goals faster. Read this post about the principle of leverage and how you can use it to grow your business twice as fast by doing half the work.
Why do you think your business will be different? Have you experienced other challenges in your business or seen new businesses fail? What’s the biggest lesson you have learned thus far? Leave me a comment below!
https://davidleeschneider.com/wp-content/uploads/2018/03/reasons-why-your-business-will-fail-david-lee-schneider-marketing.jpg8671300David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-03-23 15:47:122022-03-30 03:10:257 Reasons Why Your Business Is Going To Fail Within Your First Year
Have you wondered what are the things that successful business owners do? Habits truly are a powerful thing. Develop the wrong set of habits and you are destined to fail in various ways. Develop the right ones, however, and chances are you will soon see your business thriving, regardless of the economic environment.
These ten life-changing habits that you should adapt today to accelerate your success in business; and virtually every other area of your life.
1. Have a Daily Morning Routine
The way you start your day has a major effect on how it will pan out. If you have a sleep-in, a long breakfast in bed and don’t leave the house until after 1pm, it’s unlikely it’s going to be super productive day. If you get up early, however, and have a routine that puts you in the right mind frame, you are much more likely to have an extraordinary day.
I was first introduced to the idea of a morning routine by Tony Robbins with his Hour of Power.
A while ago I came across a book called The Miracle Morning by Hal Elrod, which is all about developing a morning routine designed to fit into your everyday lifestyle. This one habit alone, if implemented into your daily life, will catapult you into a different league.
(Don’t think I don’t love having a sleep-in every now and then. They surely have their place.)
2. Regularly Schedule Implementation Days
Boost your productivity by incorporating implementation days into your work. I started having these days with my clients, where we plan out an entire day in advance and then set a date where I come into the business and help them implement a certain strategy. These days have literally doubled my productivity, compared to working on a project for a couple of hours and over a number of days. My credo on those days is that I’m not leaving until our to do list is completed.
Be sure to have a well-planned agenda for the day. I usually plan it out a few days in advance and schedule tasks in 15-minute slots.
3. Go on an Information Diet
I am a big personal development junkie. I believe that we should never stop learning, evolving, and striving to fulfill our true potential, at work and in our personal lives. However, taking time to let your mind rest and reflect is in fact necessary to keep high levels of productivity (and your sanity). Take a few weeks every now and then where you consciously reflect on what you have learned and focus on actually using your newly acquired knowledge. It’s easy to get caught up in the cycle of jumping onto the latest tool and strategy without ever having implemented anything you learned in the past. Remember, the best strategy of all is the one you implement, not the ones stuck in your head.
During this time, try to also stay away from technology, email and social media as much as possible. I like to have occasional no-tech weekends with my kids to enjoy quality time without all the daily distraction.
4. Develop a 90-Day Action Plan
Four days per year that can change the entire course of your life. Literally.
Take a day every quarter to re-write your vision for your life and business. Get clear about where you want to be in life in 2 years, 5 years or 10 years from now. Then think of the 5 tasks or projects that you believe will have the biggest impact in moving you closer to your goals. It might be launching a new website or implementing a new lead generation strategy. Make sure you it’s not more than 5, as you are much more likely to lose motivation if you pick too many. Make these 5 projects your absolute priority for the next 90 days.
Hint: It’s often the things that are not urgent that are in fact the most important ones to work on. We tend to give all of our attention to the most urgent tasks and as a result never actually get to the things that truly matter. A great way to ensure you will actually tick off your top 5 projects is to schedule a number of implementation days (see habit #2).
5. Write a blog or journal
When we write down our thoughts and ideas, our brains are forced to organise these thoughts. This will help you to clear your head and bring structure into all the knowledge you have acquired through seminars, podcasts, books or audio books. Every now and then, I take the time to sit down, pick a topic and simply put everything on paper that shoots into my head. It doesn’t always end up on my blog but it helps to get it all out of my head. If you don’t want to make it public, you can simply keep a journal instead.
6. Pay attention to what you pay attention to
Did you ever pick up your phone to quickly check your emails or look something up and suddenly realised that an hour has passed? After checking your numerous social media profiles and watching yet another useless YouTube video, you ask yourself, where did all this time go? With all the noise and distraction these days, it’s easy to get sidetracked and lose focus. Fact is, the more you indulge in these distractions, the harder it will become for you to regain focus and dedicate your time to what truly matters. You can think about it this way. We all start our day with a limited number of attention credits. Every time you pay attention to something you are giving away some of your credits. Until you have no more credits left to focus on the right things. That’s when most people simply zone out and turn to Netflix. Be mindful of how you spend your time and stop wasting precious attention credits.
7. Practice the 80/20 rule
The 80/20 rule – also called the Pareto Principle – has been around for over a hundred years and states that, for many events, roughly 80% of the effects come from 20% of the causes. For example:
80% of your problems can be attributed to 20% of causes
80% of your profits come from 20% of your customers
80% of complaints come from 20% of your customers
80% of your profits come from 20% of the time you spent
80% of your sales come from 20% of your products or services
By focusing on the 20% of tasks that make the biggest difference in your business you will free up a lot of your time and drastically increase productivity and profits.
Ask yourself, who are the 20% of your customers that generate 80% of your turnover? Or who are the 20% of your customers that create 80% of your headaches? Maybe it’s time to let them go? (Yes, sometimes it’s wise to fire our customers.)
8. Have a not-to-do list
We are often so busy worrying about all the things we need to do that we don’t realise that we fill our spare time with habits that are not only unproductive, but can be absolutely draining, even harmful to our bodies, minds and overall health. There used to be a time where I’d come home after a long day of work and, without giving it any thought, switch on the TV, wasting the rest of my precious evening. I’d watch random shows, go to bed late and wake up the next morning exhausted and with a lack of motivation. The longer I kept going, the harder it seemed to break the cycle. Until I made a conscious decision to change my habits. A not-to-do list was a great start and helped me keep on track. My list looked somewhat like this:
Do not switch on the TV when coming home
Do not check your phone at random intervals and get sidetracked
Do not eat out of boredom
You get the picture. I then added things I could do to replace my old habits. Instead of watching TV, I would go for a run, have a shower and go out with my kids for an hour. Instead of having my phone next to me at all times, I started switching it off during times where I want to be productive and only check my messages during a break or at the end of my day. What are some bad habits that you should/could stop doing right now? You probably already know what they are.
9. Have a Think Week
In his book Essentialism, Greg McKeown writes about the concept of Think Week. A week where you take time out of your busy schedule to simply indulge in good books, articles and magazines to learn, gain new insights and, most importantly, think. We are often too busy to think about if what we are doing right now is still congruent with our values and purpose. Taking time out to re-evaluate where we are and where we want to go in our lives is crucial to our success and, more importantly, our happiness.
If you are too busy to take an entire week off, start by dedicating a few minutes each day to read, learn and reflect. Your morning routine would be a perfect time for this (see habit #1).
One of the fastest ways to free up your time and budget is without a doubt the use of the right tools and software to streamline and automate the most time-consuming processes in your business. With the technology available today, many repetitive tasks can easily be fully automated, so you can focus on the things that truly matter to you.
Here are just a few things that I have helped business owners to automate and streamline:
Lead generation
Email marketing
Social media marketing
Invoicing
Answering Customer Questions and Enquiries
How many of these things are you currently doing yourself or have staff doing, when they can be fully automated? The goal of my 90-Day Marketing Transformation program is to automate all of the above, as well as other aspects in your particular business. You can find out more about the program here.
Do you have certain habits that help you to be more productive and accelerate success? I would love to hear from you! Leave a comment below to share what’s worked for you or what challenges you are facing right now that are holding you back.
To your success,
https://davidleeschneider.com/wp-content/uploads/2018/03/david-leeschneider-blog-1.jpg4231200David Lee-Schneiderhttps://davidleeschneider.com/wp-content/uploads/2022/03/Logo-dls-gold-transparent.pngDavid Lee-Schneider2018-03-23 00:25:392018-06-11 00:55:59Change Your Habits, Change Your Life – 10 Things Successful Business Owners Do
David Lee-Schneider Marketing
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David Lee-Schneider Marketing
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David Lee-Schneider Marketing
David Lee-Schneider Marketing