Slavery was abolished in 1865. Lots of business owners are out there getting whipped by their business. Whipped into submission. During your slow period and possible time off through Thanksgiving determine what areas of your business are enslaving you and make a commitment to whip them into submission and become the Master of your business, and your life. You must first master the business to master your life.
Hey it’s me Lee Godbold with Junk Removal Authority. It amazes me whenever I get around with some other business owners and I see what people are talking about. I listen to their concerns and their struggles. How many slaves are out there? You know slavery was abolished in 1865. All of you that are slaves to your business around there, you’re breaking the law. You have to take control of your business. You can’t be enslaved to your business. There are people out there and it’s in every part of their business, it’s not just one part. There are people out there that are a slave to their telephone. When the phone is ringing them personally, they are enslaved to it. They have to pick it up and answer it. They’re enslaved to the banks. They have loans out. The bank is sitting there and they’re knocking them across the head all the time then get his line of credit paid down. They’re threatening to call their note every time they turn around.
There are people enslaved to their equipment. Those of us in Junk Removal business or in HVAC Countertop businesses. Any type of business out there that requires equipment. There are people that is sitting there and enslaved to their pieces of equipment. They have trucks breaking down all the time. Instead of buying new equipment, they’re sitting there and settling in with faulty equipment. They’re dealing with equipment that is slowing them down in hauling of things. A lot of times people are sitting there and they’re trying to get by with vehicles that they don’t dump. They’re going to handle the load. It’s increasing the amount that they’re able to get a lot less of work done. They have to turn away the work. They’re not able to grow and get an increase on the income. As you bring in more income, you can get more freedom if you do it right. You need to have the right equipment in other businesses which are countertops. In countertops, there are people out there sitting and they can’t keep up with work because they don’t have enough employees. They’re trying to hire but during that, many people would be found right now. I mean unemployment is around 3% across the country. Everybody wants to work for the most part. There’s an option out there. There’s a million bucks. You can have a CNC equipment that will do about everything you need.
You can cut your employees back with that CNC equipment. You have to go ahead and get that income right where you can afford that CNC equipment. Don’t be afraid to take out a loan on it, but you have to get it. You need to get the right equipment so you will not be a slave. If there’s anything in your business or in your life that you’re struggling with, there’s a solution out there. You need to take the steps to make it so you will no longer be enslaved. You have people out there that are also enslaved to their customers. If you’re a slave to your customer then you’re reaching the wrong people.
Yes, you have to provide a lot of value. What you have to do is you need to have customers that are willing to pay what you charge, make yourself a profitable business and to be successful in business. There are people out there that are willing to do that. You need to deliver high value to because you have to convince them. You have to show and present to them a case. You have to reach them that what you have is a very high value. What I want to go back to is one of the first things I said. You have people out there that are enslaved to their telephone and that’s 100% correct. Some of you are probably wondering and thinking that I’m being a little hypocritical. I’m always somebody that talks about you always need to answer your phone, but at the same time it doesn’t necessarily have to be you.
When you first started your business then there’s a good chance that you’re going to be the main one answering the phone. You’re going to be the only one that’s available to answer the phone. You have to keep up with it for a little while. You might have to be a slave for a period of time before you become the master. You need to make steps to be that master. You start out then pay your dues early. You start out and you’re a slave. You have to be arriving to the point where you’re the one that’s whipping your business and life into shape. That’s critical, what you need to do is you have to answer that phone whenever you have to answer it. That’s when you first get started. You’ve got to learn how to take control of a call. How to guide customer through a sales process, close a deal, follow up, and to get more business. When you get calls in and you’re paying for advertising, you should know the best on how to close down the deal. Otherwise you’re just throwing money away. That’s one thing you’ve got to learn to do. You have to take control of that. When you hire somebody to answer the phones then you need to make sure that they’re doing a good job. You must track their booking percentage and listen to their recorded phone calls. You’re ensuring that the person you hired is the right fit for that job. Your freedom depends on it. They can just leave. They’re not enslaved to you. Yes, you pay them a monthly check but if they want to leave then they can. Your life is tied to that business and if it fails, then it’s going to affect your life. You might lose your house and experience depression. Your wife and your kids are depending on your business. You’ve got to take control of it. A lot of these people sit there and they think they’re indebted to all their employees.
Let me tell you something. Your employees are critical, they are very important. If they’re doing their job then you don’t want to lose them. Those employees that are doing a great job, they are the ones that you want to retain. You need to pay them every penny they’re worth. You must keep them as long as possible. You want to make sure that they know you appreciate them. I they’re not doing their job then you need to have them trained.
After a while if you train them and it’s still not working out. You have to move them all. You have to take control of your people to take control of your business. So, guys the thing is banks. You have people on two ends of the spectrums. Spectrum in service business and any business in general. Some people go and they use the banks too early. They take out too much debt and their fullest with it. Some people are afraid and they want to cash flow everything. There’s something in the middle. You need to start out. If you can start out by cutting your losses until you really get in and try out a business. You’re not going to be 100% certain if it’s going to work. If you have the skills to make it work, and if the area that you’re located in will support whatever business you’re going into.
If it’s possible to get into that business with very little debt. If it’s debt then it must be like equipment loans. It’s all equipment that are going to retain value that you can cut your losses. If you need to then you can sell that equipment without taking a whole lot of loss that your loans are kind of more secured. In a lot of times unless you got significant assets. That’s going to occur anyway because the bank’s not going to let you go too far strung out. You need to be a little careful right there at the start. Once you prove out a concept, then what? A lot of times that happens is some of these people are way too skittish getting in. They’re taking out too much loans. They almost lose their shirt and then they get really skittish.
They don’t want to take out any loans from that point. Don’t be afraid of the bank. You use the banks once something is proven out. Use the banks for advertising and to get equipment. Maybe you can even use the bank so you can hire people in order to get that freedom in your life. Every time you hire somebody and upgrade your equipment, you should be able to get more work and stay on more task. On the equipment end of things. Some of these old trucks, they’ll nickel and dime you to death. You might still want to keep them if you’re in the home business. You might still want to keep that old piece of equipment as backhoe. You know, downtime kills you. You need to have stuffs where you can stay up if you want to have freedom and control in your life.
Sometimes when you’re taking out these loans, you want to make sure that you try to keep cash and assets that you could sell where you can cover that note if you have to. You don’t want to get strung out. You don’t want to owe a lot more than you have in assets if possible. Those of you that want to go all the way in, use that confident until you see enough results. You can sit there and you can throw out a lot of them. You can take out a big loan, but if it comes back to bite you back then don’t go blaming Lg. I’m not afraid to do something like that if I have to if I’m that confident in a situation. I’m not going to sit there and tell you that you’re wrong for doing that. You need to think long and hard.
Depending on what type of business you’re in. A lot of service businesses can be mostly cash flowed and then also with a reasonable loan. This is where I defer. One of the biggest things I’ll take a loan out is for advertising. Advertising works if you stick with it. All advertising pretty much works if you do enough and stick with it. If you’re barely doing any at all and you’re trying to do it on a real small budget then you’re not being shown at the times when and where people are looking for your product. If you don’t give it a long enough period to try then it’s not going to work. You were just wasting that money.
If you make a commitment to advertise, all advertising works as long as you do it long enough. Don’t be afraid to take out a loan for advertising. So, what everybody needs to do on this thanksgiving. One, you need to be thankful if you’re already in business. You’re in business for yourself that you took the leap. You went out and then you just need to be determined that this next thanksgiving and the next time you roll around. You’re going to be thankful because you have a business that runs without you. Start Right now guys. Slavery was outlawed in 1865. Those of you out there enslaved to your business. You’re breaking the law. You need to take control of your life and business.
Quit being a slave to it. If you need something and there’s anything in your business that is holding you back. If you can’t leave town for two months and come back. Then your business sis still running great then you don’t have what you need. You’re a slave to your business. Whatever you need. If it’s equipment, people or whatever it is. If it’s more customers, advertising, and the right customers then you need to recognize that. You know it and you’re scared to make the next step. You have to grow some confidence and be brave. You need to take those steps and take control of your life. Quit being the slave and become the master. You all have a great thanksgiving. Check it out!