From episode: TGMS Ep: 128 You are BETTER than you THINK!
some of the top answers for starting a business are this. Number one, freedom and flexibility. You know, do you have that? Do you have that in your business? If you and a lot of times we take that for granted, for sure. But if you have freedom and flexibility in your business, you are blessed, you're able to manage your time, you're able to manage a lot of times as you get going in business, and you've been going for a while, you're able to manage your income level much more than you could do if you work for someone else, you're able to business, you have the freedom by managing your finances well, to remain flexible. And in your outside the box thinking, so you are better than you think you are. We also, number two, we create something new. Why do you want to start your own business? I worked for other companies, I don't want to be like them. I learned what not to do. I want to create something new. If you've done that, and you've lasted a while, you are in the top 10 to 20 % of all small businesses. So congratulations, you are better than you think. This means you've businesses that are no longer around. They couldn't deal with failure. They couldn't deal with mistakes. They didn't know how to correct them. They didn't know how to, you know, keep chugging along and keep making things happen. You did. That's why you're still here. You've dealt with a lot of change. If you're in that 10 to 20%, you've dealt with a lot of change. You've either created change, you've adapted to change. Sometimes change is not our idea. Change is always great if it is our idea, right? But sometimes change is not our idea. I mean, things change in our industry that we have to adapt to and we have to make it work. In my world, if it's a refrigerant change or a code change, we have to adapt to those things and we have to just keep working through it. And if you can't do that, you're not going to be around long. We also have to create how to improve serving others better. And we started a business. Most of us have started a business from scratch. Either bought a business, took over a business, acquired a business. But many of you have started a business from scratch with nothing. It is now a viable business. It has a heartbeat. It provides many jobs and it serves many people. And a bit like small business, like no other, I mean, the small business today carries America. The majority of our income and finances come from small business. It's an extremely large amount. I don't have the number in front of me, but if I tell you it's something like 88 % small business carries America. So if you've done all those things and you're in that 10 to 20 % group in the United States, you are better than you think. And number three, people start a business for generational wealth. They want better for their family. They want better than from generation to generation. They want better. And I'll stop right there and tell you that I want my next generation to be better than me. I'm okay with that. I'm perfectly okay with that. What does better mean? We could break that down into many different ways. It doesn't necessarily mean having more money, but the byproduct rather of being better probably will create more wealth that that would be a goal. Okay. So if you're considering others over yourself, you will do well generating wealth for future generations. And if you realize there is more to life than material things, and you don't focus on keeping up with other companies, if your eyes aren't always on other companies, what they're doing, how can I do that? And all those types of things. Or if you're not trying to keep up with other people, keep up with the Joneses and have that kind of car and have that kind of house and have those kind of things and do this and do that. If you're not doing that, you'll have more time to focus on the important things. Now, I'm not saying growing your business is not important. It's extremely important. It's the only way you're going to create generational wealth.