There’s something about running a business and all the different twists and turns that can cause you to think. Combine that with 3 strong cups of black coffee, the last day of 2015 (the day of turning 42!) and a look to the future and voila, a couple of thoughts.
I think of a great quality of life in terms of “Standing UP.” Deciding what really matters in life. Being true to yourself. Being Real. Making the tough call when needed. What appears to be a tough call on the surface really is not……you’ve already determined what matters.
So some real world examples….
One of the areas of business that I find fascinating are STAKEHOLDERS, how they are managed and IF/HOW one is more important than the others.
Employees.
Customers
Vendors
Owners/Shareholders
Debtors/Lending Institutions
Interests between stakeholders can sometimes appear to be in conflict. Good leaders make them all co-exist together. GREAT leaders will clearly articulate how they view stakeholders, talk openly about each, and back up their words with real actions. They communicate their beliefs in ADVANCE any decisions that can be construed as conflict. They welcome debate. But when a decision needs to be made, it’s the leaders job to STAND UP.
My company, like many is financed by a combination of Debt and Investor Equity. The Debt Piece I’ve found fascinating for a couple of reasons.
One smart banker called money “the ultimate commodity.” I never thought of money that way before, and still have trouble getting my head around it.
A small lesson here: The more smart people you come into contact with, the more challenges you will have to your world view, and that creates growth.
Rarely, will Debt be given without a hefty sum of collateral. Want to mortgage anything? There better be an asset in place. And most times, that may not be enough, SOMEBODY will need to stand up and PERSONALLY guarantee the loan is safe and will be watched after.
The Personal Guarantee. “PG.” It’s a big one. It’s a real test for an entrepreneur’s stomach, confidence, character and ability.
If money is indeed the ultimate commodity, than a PG is what stands between the money and the deal itself. It’s a banks test. Employees don’t have to deal with it. Shareholders have risk, but its usually limited to their investment. When $’s loaned > entrepreneur's net worth? That’s a real test. Many aren’t cut out for it.
The PG is one small example of STANDING UP. Most will never experience it.
But STANDING UP (or not), happens everyday, and it happens to all of us. There are choices that are made that move people forward, or keep them stuck. People make choices everyday, based on their values, what matters, what doesn’t.
What can be the most stressful in life? When people don’t clearly know what is important to begin with.
They aren’t “All in.” They spread themselves like peanut butter, evenly across the landscape. They either try and please everyone while the people and things that matter most aren’t clearly defined in their own mind. People that try to please everyone usually end up pleasing nobody.
When I look back on 2015, one of the most memorable and important moments came when a friend told me he was “all in” despite a character defining difficult decision that many would have been tempted by. These are the people you go to war with. And if your lucky, you grow old with these people. They have their values front and center, and when they need to STAND UP, they do.
If people can stand up for THEMSELVES, they will eventually be able to stand up for OTHERS, and that matters even more. Leaders ultimately fight for other people.
2015 is in the books. People everywhere will write their resolutions, some small, some big. Many will dream big dreams, which is great.
What is NOT great, is when dreams of a better future happen with ZERO behavior change. New, different, better ACTION.
Hustle happens to be verb. A great life that you imagine takes real, intense action.
But hustle without understanding what’s important in life can be chaos.
Thinking through values matters. It will allow you to be one step closer to STANDING UP. That’s the first step towards action.
So happy new year. Wishing everyone the best, and thank you for listening.
It is hard to believe Hustle Or Bust has been kicking for 3 years now. I thank my wife for kicking me in the rear to start this labor of love.
Actually, in many ways hustle or bust has been kicking for 42 years!