What the hell have I been doing!
Those who are unfortunate enough to have a spell in “Entrepreneurs Wasteland” will find they question their desire and faith in themselves to be successful. They may have been in a job earning £150k per year but now lower their expectations to £50,000. Previously successful business leaders think about running a smaller business. We all know the clichés, “it will less agro dealing with a small team,” or, “I can make more money working on my own.”
Last year when planning my future I fell into the same trap. A millionaire by the air of 30, but here I am 15 years later setting a target to sell a business for £1m in three years.
Reflecting on holiday as to where I am this year, I can see that I set the goal low enough to be achieved. A “nice round number” I said to myself.
The reality was that subconsciously I set a low target as I was in Entrepreneurs Wasteland. My “faith” and “desire” battery supply was low. You start thinking small and your behavioral traits, thinking and targets reflect that. (I respect that a lot of people will say that making £1m in three years is not small.)
I have been visualizing selling a company(s) for £1m. If that is what I set out to do, then that is what I will achieve. Subconsciously, my thoughts, plans and decisions are geared to this target. And that is where a fatal error has been made.
I have not thought big enough. Why should the number be £1m when it can be £10m? All I have to do is to move the decimal point over one place to the right – a very small task – and I would make ten times the amount. Richard Branson did once say is it just as hard to make the first million as it is to make another 99.
I have faith in my own ability to make £10m. I have the desire to make it. Add to this my specialist knowledge and this is achievable. Steve Jobs (Founder of Apple for those of you living on Planet Zog) made a $1m by the age of 23, $10 by 24 and $100 by 25.
My objectives this year have been about buying a few small companies and setting up a few small “cottage industry” companies. The logic is sound, there is a small cost of entry and we do need to make regular profits. By building these departments/companies, we could have a small number of units making a total of £250k net profit per year within three years.
As this diary entry is becoming rather verbose. I can cut to the chase, a target of £1m is a load of bollocks, I need to focus my activities on making £10m.
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