Plan B

With many of our coaching clients at the ownership and management levels we talk about Plan B. What is your plan to generate income that doesn't rely on your current job or your current company? If you assumed no one else was going to cover your retirement or long term well-being, what plan do you need in place? Now some people think this is about being a financial planner. It's not. It is about business strategy for you as an individual and as a company. It is critical to know that you have a second income stream, second opportunity and cushion if things ever finished up quickly with your primary role/job.

Where are your interests? What things do you love? Real estate? Stocks? Makeup? Organic Products? Find your interests and see where Plan B can fit around those. If you had to spend 3-4 hours a week working on your future then you have the makings for a Plan B. Do it with your spouse. Know that getting rich and being independent isn't based on what your financial advisor tells you - he or she has hundreds of clients and isn't watching your money every minute of the day. It is based on you taking time to find a hobby called Plan B that will continue to grow your knowledge in business and your wealth outside of your first role/career.

Money is the Result.

So many people are focused on making money in their companies and in their careers that I thought it was important to write about how they can do this. The fundamental problem most people have is that they don't recognize that more cash, bonuses, sales, commissions and salary are results. They are an output and not an input. Therefore, by just focusing on the result of things (I need some more money personally, we want more sales this quarter) we are missing the critical focus - the inputs that create money for us.


In your job you should know exactly why you get paid what you do. What is expected of you in order to earn your salary? My experience is many people aren't quite sure. Well, you need to know in order to be able to increase your inputs to get more output (money). Talk to your boss and your co-workers, AND your clients and see what generated results for them. Then you have a sense of what you need to produce more of in order to get more money. A raise doesn't show up without more effort and results. You don't get a bonus at the start of the quarter, it's at the end when your results can be measured. So start today in knowing what you need to do to serve more people and to create more results worthy of more cash.


As a business owner or manager, how can your organization serve more clients and better serve the clients you have? So often companies think that clients deal with them because of their base product or service. Well, your clients can get your product or service from probably 50 different suppliers (or at least 5). So why are they dealing with you? You need to know in order to create more value. As you create more value for clients you create more buzz, strengthen your reputation, advance your product offering and generate more results for clients. It is a cycle. So figure out fast what you offer. Then set some new goals based on how many people and companies you will help this quarter. That is the input you control and revenue is the result.

Leadership Tip: Make a List of All the Things You Hated

What are the things you have hated about every job you ever had? What things did your old boss or manager do that drove you wild or made you feel bad? Often realizing what didn’t empower you gives insight into what you need to avoid as a leader.

Although we like to work in the positive of “do these things”, we also can formulate those by recognizing what didn’t work with us and making sure we don’t do it to others.

Leadership Tip: Make a List of All the Things You Loved

Every leader – whether good or bad – was at one point an employee. As an employee we all have things we loved about our previous bosses. We often also have things that we hated. Take a moment to think about all the things you loved as an employee. What empowered you? What made you feel great?

Make a list of these things and post it in a place where you will see it and do those things with your team.

Leadership Tip: Lead In All Areas of Your Life

Often great leadership is demonstrated to your team in how you manage your whole life. Many business leaders think it's only about how they operate in the office and how they lead in meetings, campaigns or with staff. Your team is gauging your leadership in your management of your health, your family, your marriage, your personal finances, your car care, your hours, etc. All of this happens in addition to how you lead in the office.

Make sure that leadership development is holistic in your life and watch your results within the office improve too.

Leadership Tip: How Are You Today - Your Thermostat for Success

Many times leaders and managers want to get a sense of where their team is operating and how they are feeling. People have an easy way they project their level of energy, enthusiasm and optimism. It is when they answer, how are you today?

Choose people for your team that are “great today” or “excellent this morning”. Stay away from hires and people that are “okay”, “not bad”, “I’m not bleeding” (one of my favorites). When someone answers that question you know their whole approach to their job, their project and their life in an instant. Get your team thinking about how they are setting their bar for the day – fine, good, great, fantastic or beyond. It shapes the way people feel and how they perform for their leader and team.

Leadership Tip: Leadership is Like Cars

Quality, performance, value and experience. All things you might be looking for in a car. Also all things that people list when talking about a strong leader.

If your team had to describe your leadership style in terms of a car, what kind of car would you be? Would you be a Mercedes or would you be a Saturn? It is a great exercise to allow people to describe you without directly describing you. It is essential to know what vehicle you are trying to BE and trying to represent. It is also easier to picture that car in your mind all day or week long versus trying to remember all the words that describe it.

Start your week being a Mercedes or a Hummer and see how your team's response changes and improves.