Podcast Episode 9 The Highest Calling Flashcards
Freedom - “Freedom comes not when you solve all your problems, young man. Freedom comes when you realize you can’t do it alone.”
Intensity - The intensity of your desire will determine the power and force you put out to move toward your goals,”
Taking Responsibility - “I need to you to take full responsibility for everything you are and everything you will ever be. Few people ever do this. There are no excuses. When you make excuses, you give your power away to other people. You are Weaknesses - “The strong and the wise admit they have weaknesses.”. For everything. Period.”
Failure - “Failure is self-inflicted. And you need to change that. You need to cause all your success, instead,”
Weaknesses - “The strong and the wise admit they have weaknesses.”
Bottleneck - ‘The bottleneck is at the top of the bottle.’
Business Plan vs Vision - “A business plan is how you are going to get there. A vision is where you are going…I want you to open that book, and write down how much money you want to make. Then I want you to write down how many hours a week you want to work. Then I want you to write down as many reasons as you can why you want to accomplish this goal. Write down all the things you can have or do as a result, and all the things you can give or express as a result.”
Thinking:
-“Think Daily”.
-“Thinking is the hardest work of all, Troy. –That’s why so few do it,”
-“You are in the thinking business. And the quality of your business will be determined by the quality of your thoughts.”
-“Successful people think long term. People who only think short term aren’t willing to make the investment, take the time, and do it right. And they wind up in trouble sooner or later,”
-“What you dwell on is what you attract.”
Vision:
-“You have to clearly create the business you want in your mind first,”
-“To be a visionary, you have to see things that aren’t there yet, and believe in things that haven’t happened yet.
-“It’s not a question of right or wrong. You can create whatever you want. It’s your vision, so long as it works for your customers, employees and for you. That’s the test.
-“You set a new goal and challenge it—make sure it is realistic. Envision how your organization will look, write it down, and use the same processes to call the future into being as you did the first time. Same thing, just a different scale.”
Passion - “If you’re going to make money doing a type of work for your customers, then you have to be good at it. And in order to be good at it, you have to have a passion for it. And when you have a passion for it, it doesn’t seem so difficult. In fact, it could be fun!”
Service - “Your rewards in life will be based on the level of service you provide, multiplied by the number of people you serve,” Cy said. “If you want to make a lot, you have to serve a lot.”
Help Yourself - “if you aren’t willing to help yourself, then there is nothing anyone can do for you,”
Offense and Defense :
“In order to sell and install $5 million, you’ll have to go on the offense in marketing and sales like you’ve never done before. And in order to make a 12 percent profit margin, you’ll have to be defensive about spending the money you take in. The only way to make a 12 percent profit margin is to only spend 88 percent of the money you take in—right?”
Offense and Defense:
“first, when some businesspeople become successful, they go into the marketplace being defensive, trying to protect what they have, instead of staying on the offense to build their team and services better all the time. When it comes to innovation, positioning your company in the marketplace, and embracing change, you have to stay on the offense.
Mistakes - If you are to attempt something great, you will make mistakes. The question is—what will you learn from the mistakes—and how quickly?”
Quality - “If you don’t have a company that really functions well, and that you and others are very proud of, then in order to win over customers you have to use smoke and mirrors. That’s lying, and it never works for long.”
Taking Risks - “those not willing to change live a life like everyone else. Those willing to accept risk, step out of their comfort zones, and continually learn, live a life like no one else.”
Leader - “There’s only one job that could pay $600,000 a year, if you were successful at it,” Cy told him. Troy anticipated what his teacher would say next. “It’s called leader.
Hiring - “You are in charge of finding and hiring the right people and subcontractors. Do not take this casually. The wrong people will hold you back. We’ll have to talk more about that later.
You must build your business systems of marketing, communication, sales, management, accounting and production, so that your people are all doing it the same way.
Leadership -
“Effective leadership is rare, Troy. But it’s learnable,” Cy told him. “You are no longer self-employed, and no longer a manager. You are the leader who is in the knowledge business, and information business, and decision-making business, and most of all—the people business,” Cy said. “You can do it, young man.”
Leadership -
“Delegating these creative tasks that mean so much to the future of your business can be helpful for extracting what others know; but in the end, you are responsible for making it work.”
Leadership -
“Leadership is about mobilizing a great team and igniting their own passions to excel, while accomplishing the goals of your organization. And that’s up to you. You are responsible. Everything counts.”
Leadership -
“you have to be a positive, consistent leader for everyone. Find common ground that you can all unite with,”
Process Improvement - “When you work on a part of your business, no matter how long it takes, do it really well.
Training - “First of all, you don’t overhaul people. You train them, tell them what you expect, set up an environment for them to succeed, and give them your support and understanding.”
7 Components of a Successful Business - “So first You, then Leadership, Team, Marketing, Sales, Production or Operations, and the Numbers. Those are the seven areas.”
This is why you can work on your business for a long time, and make progress in it, but not get the sales and profit results right away. It may not be until you have the synergy of excellence in two, then three, then four and more of these seven areas that you begin to see the results at the bottom line.
Weakest Link
“The area that a business is weakest in will set the height of its success.”
