Daily Motivations - This Is Why Most People Get Destroyed In Business

Episode Date: October 13, 2021

                         3 reasons Why Most People Get Destroyed In Business 1. No exit strategy or succession plan in place.  Even entrepreneurs don't live forever! When you want to leave the Business, the business will crumble without a proper plan in place. And without a proper plan, there is no sustainable value in your business. 2. Paying your best employees too little. Let's face the fact that you likely take advantage of your best employees. They are always willing to do the most and best work for less comparative compensation than others. 3. Not talking to your competitors. You ignore your competitors completely. Speaker: Jon Taffer Bar Rescue Credit: MotivationHub Social Links Instagram - @daily_motivationsorg        Facebook- @daily_motivationsorg Interested in sponsoring this show reach out to us via [e-mail] Kindly Support Us Below to sustain future episodes. Support the Show.

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contact Connex Ontario at 1-866-531-2600 to speak to an advisor free of charge. BetMGM operates pursuant to an operating agreement with iGaming Ontario. Welcome to Daily Motivations, where you get motivated and inspired. I'm Tolu Dave, and today we are talking about why most people get distraught in business. At the end of the day, winners win, and entrepreneurs make money. When we accept failure, we find success. When we don't own failure, we'll never find success. About 10 years ago, around 2010, 60% of businesses were family owned.

Today it's only 42% because people made excuses. They blamed Obamacare. They blamed the economy. They blamed whatever the hell they could come up with. But how many people during those years started businesses and became millionaires? Every one of those excuses was bullshit. Every single one. He or she who creates the best reaction wins. And that's what we have to get good at, is we have to understand how to cause people to react. If you own your failure, you'll own your success. So what is personal growth? You know, I think about entrepreneurship.

Some of us are in this to do social good and make money. Some of us are into this for political causes and make money. Some of us are just this to do social good and make money. Some of us are into this for political causes and make money. Some of us are just here to make money. But we all have different motivations. So we all define growth differently. Could be a bigger house, a bigger car. Whatever it is, we all define it differently. But what is common about growth?

Benjamin Franklin, if you do tomorrow what you did today, you will get tomorrow what you got today That is the definition of not growing Every day, every hour, how do we find those resources? How do we find the energy, the knowledge to do that? That's what I want to talk about If you do it the same tomorrow, there's no growth. If you attain the same result tomorrow, there's no us. And also, when you support this show, we will give you a shout out in the next episode by dropping your name in the description of that episode. It's not how much you give out, but the love you put into giving.

Thanks to those that already support this show. We love you all. Make sure you follow our Facebook page and Instagram page at daily underscore motivation org. If you haven't, the link is in the description below. Everybody will talk to you about success. The practices of success, principles of success, blocks of success, platforms of success, steps of success, every freaking word they can think of,

they will put before of success. But I've learned more about failure than anyone. You see, other people get paid to go to promising businesses. I get paid to go into worse businesses you can imagine. What is it about failure? What is the common denominator of failure? How does failure happen? I've learned the walk of failure, the talk of failure, the words of failure, the facial expressions of failure, and I finally landed on the common denominator of failure. The one thing that resides within every failure that could ever exist. And it took me about 130 episodes to figure it out. So,

what is the common denominator of failure? Why are you failing? You never say because of me. Oh, it's the competition. It's the economy. It's the president. It's Congress. A few weeks ago, somebody told me it's Greece. In California, the Euro is taking them down. So, if you wake up tomorrow morning and blame your failure on someone or something else, you have no reason to change, do you? It's that son of a bitch's fault. Son of a gun, I did everything I could. But if you woke up in the morning

and looked in the mirror and said, I am failing because of me, the decisions that I make, the energy I put in, I'm not passing the blame. If you look in the mirror tomorrow and say that, you will change. Because nobody likes thinking of

themselves as a failure, certainly not an entrepreneur. Years ago, I used to have a line on my revenue reports for comments. And every day at the end of sales, the GMs would write a comment. So they'd write, snowing, no business. The next day, they'd write, cold, no business. The next day they'd write cold, no business. The next day, first nice day, no business. If you are thinking of starting a podcast, Buzzstrap is the easiest and best way to launch a professional podcast. Buzzstrap gets your show listed on every major podcast platform like App Podcast, Spotify, Google Podcast, and so on. We use Buzzstrap to launch our show and it has been great using it.

In fact, it's so good they have already helped over 100,000 people launch their podcast. To start your own podcast, follow the link in the description of this episode. Let BuzzChub know we sent you. And you also get a $20 Amazon gift card if you sign up for a paid plan. You get a great looking podcast website, audio players that you can drop into other websites, details and lyrics to see how people are listening, tools to promote your episodes, and on and on. BuzzChomp's the easiest and best way to start a podcast. So, if you give somebody a line to put an excuse in, they will put something in that line every freaking time.

But you can't. You can't't because you're the people who make it happen aren't you you're the entrepreneurs you're the ones who start the businesses aren't you we're the ones who get them capitalized we're the ones who create jobs they blamed Obamacare they blame the economy they blame whatever the hell they could come up with. But how many people during those years started businesses and became millionaires? Every one of those excuses was bullshit. Wasn't it? Think about it.

Every single one. At the end of the day, winners win. And entrepreneurs make money. You think of your promotional partners, your neighbors, the kind of relationships that you can have, how you can expand your universe. You work it because you're focused on what? Your 20.

And you don't stop until you find it. That is an entrepreneur. The one who sleeps with revenues every night and wakes up with them every morning. Who understands that expenses are easy to manage. the one who sleeps with revenues every night and wakes up with them every morning, who understands that expenses are easy to manage. I can spend 25% of my revenue on labor. I do 10 grand, I can spend $25 an hour, that's the next amount of hours. It's not hard.

The fact of the matter is, everything we do must create reactions. Those reactions drive frequency, drive spend, and fuel the economy of our country. And he or she who creates the best reaction wins. That's the business world. And that's what we have to get good at. Is we have to understand how to cause people to react to what we do. And it's not the product. Don't let your brain stop there. It's the way the consumer or the individual reacts to it. And when you own the reaction, you own your future. That's business. And anybody who tells you we're in a product or services business is just dead wrong. Great products fail all the time, don't they? But products you love don't.

Coke. Go open Coke. You have a bad can. Oh, awful. What do you do? Go buy another can of Coke. What's the single thing that drives success? You do. You're going to leave here today, and either you're going to change the way you act, or you're not. If you do, you're in a growth mode. If you don't, you're stuck. Let me leave you with this thought. The average American makes 3-5% more every year. That's it. They work their ass off to make three to five percent more a year.

And then you meet those people who buck that trend, don't you? They double their money and their income in three years. In five years, they own the damn business. You've all seen it. That guy or girl didn't wake up tomorrow and do the same thing, did they? So we can't fall into it. It's the trap. And it's the 3% to 5% trap that happens when we don't advance the way we think. Thanks for listening. Kindly support the movement of this podcast by supporting us or subscribing to our premium content for more exclusive stuff.

When you do so, you also get a shout out in our next episode. Thank you. Do you have business insurance? If not, how would you pay to recover from a cyber attack, fire damage, theft, or a lawsuit? No business or profession is risk-free. Without insurance, your assets are at risk from major financial losses, data breaches, and natural disasters. Get customized coverage today starting at $19 per month at zensurance.com. Be protected. Be Zen. Get ready for Las Vegas-style action at BetMGM, the king of online

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