Day 2 of Thrive Time Show Business Workshop Highlights

If you are a business owner or entrepreneur who wants to start or grow a business, you have to make it out to a Thrive Time Show Business Podcast conference. In day 2 of the conference, business coach Clay Clark dives into sales, hiring and firing, creating financial awareness and more.

Day 2 of Thrive Time Show Business Workshop Highlights

 

During today’s broadcast of The Thrive Time Business Coach Radio Show, Clay Clark breaks down audio clips from this past 2-day intensive business workshop. During today’s show they cover the following subjects and more: Tracking Lead Sources, the Startup Process, Determining How Many Customers You Need to Achieve Financial Freedom, the Difference Between Busyness and Business, the Tradeoffs of Being a Low Cost Provider, How to Build Systems and much, much, more…

 

NOTABLE QUOTABLE“You can’t build a reputation on what you are going to do.” – Henry Ford (The founder of the Ford Motor Company)

 

NOTABLE QUOTABLE“Vision without execution is hallucination.” – Thomas Edison (The inventor of recorded audio, recorded video, the modern light bulb, etc…)

 

TRACKING YOUR LEAD SOURCE

Use www.LuckyOrange.com to track your website traffic

 

THE STARTUP ENTREPRENEURIAL PROCESS
  1. 1. DEFINE
  2. 2. ACT
  3. 3. MEASURE
  4. 4. REFINE

 

AUDIO INTERVIEW FEATURING RYAN (the founder of TIP TOP K9 http://tiptopk9.com/)
ESTABLISH THE NUMBER OF CUSTOMERS NEEDED TO ACHIEVE FINANCIAL FREEDOM

 

NOTABLE QUOTABLE – “Education is what remains after one has forgotten what one has learned in school.” – Albert Einstein (Einstein developed the theory of relativity, one of the two pillars of modern physics (alongside quantum mechanics).Einstein’s work is also known for its influence on the philosophy of science.)

 

THE DIFFERENCE BETWEEN BUSINESS AND BUSYNESS

BUSYNESS – Staying perpetually busy doing tasks that don’t need to be done

 

BUSINESS – Engaging in productive actively that helps you get close to the achievement of your goals

 

NOTABLE QUOTABLE – “A friendship founded on business is better than a business founded on friendship.” – John D. Rockefeller (The world’s wealthiest man who began working at the age of 16 to support his mother and family)

 

ACTION ITEMS:

ACTION ITEM #1 – Write down all of your expenses

ACTION ITEM #2 – Write down all of the variable expenses

ACTION ITEM #3 – Add on a 25% profit margin for all services / products that you provide

 

ENTREPRENEURS WORK MUCH MORE THAN THE AVERAGE EMPLOYEE

FUN FACT:

“The average entrepreneur works 63% more than the average employee.” – https://www.inc.com/john-rampton/what-hours-should-i-work-everyday-as-an-entrepreneur.html

 

YOU MUST CHARGE MORE IF YOU PLAN ON OFFERING A PREMIUM EXPERIENCE

https://www.washingtonpost.com/news/business/wp/2017/08/24/amazons-takeover-of-whole-foods-begins-monday-and-youll-see-changes-right-away/?utm_term=.937ac0c20f1c

 

YOU MUST HAVE A TANGIBLE WAY TO KEEP TRACK OF YOUR LEADS

 

THE TWO MINDSETS EVERY ENTREPRENEUR MUST HAVE

 

  • The Alpha “Get It Done” Mindset
  • The Meta “Strategic Planning” Mindset

 

 

DEFINITION of ALPHA – 1st letter in the Greek alphabet. Something that is first.

 

DEFINITION of META – Situated behind or beyond, from the Greek more META which means beyond.

 

NOTABLE QUOTABLE – There is a creeping tendency to use made up acronyms at SpaceX. Excessive use of made up acronyms is a significant impediment to communication and keeping communication good as we grow is incredibly important. Individually, a few acronyms here and there may not seem so bad, but if a thousand people are making these up, over time the result will be a huge glossary that we have to issue to new employees. No one can actually remember all these acronyms and people don’t want to seem dumb in a meeting, so they just sit there in ignorance. This is particularly tough on new employees.

 

That needs to stop immediately or I will take drastic action—I have given enough warnings over the years. Unless an acronym is approved by me, it should not enter the SpaceX glossary. If there is an existing acronym that cannot reasonably be justified, it should be eliminated, as I have requested in the past.

 

For example, there should be no “HTS” [horizontal test stand] or “VTS” [vertical test stand] designations for test stands. Those are particularly dumb, as they contain unnecessary words. A “stand” at our test site is obviously a test stand. VTS-3 is four syllables compared with “Tripod,” which is two, so the bloody acronym version actually takes longer to say than the name!

 

The key test for an acronym is to ask whether it helps or hurts communication. An acronym that most engineers outside of SpaceX already know, such as GUI, is fine to use. It is also ok to make up a few acronyms/contractions every now and again, assuming I have approved them, eg MVac and M9 instead of Merlin 1C-Vacuum or Merlin 1C-Sea Level, but those need to be kept to a minimum.” – Elon Musk (The man behind Tesla, PayPal and SpaceX)

 

LEARN HOW TO TRAIN PEOPLE

Tell Them

Show Them

Have Them Demonstrate Mastery

 

Featured Songs:

Major Lazer & DJ Snake – Lean On

Chris Martin – Hymn For The Weekend

OMI – Cheerleader

Calvin Harris – Blame (feat. John Newman)

The Beatnuts – Watch Out Now

Jay-Z – 30 Something

2pac – Me Against The World

 

 

 

 

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