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  • Make Fewer Decisions – Step 2 to Making Decisions - Let’s not waste our time not making decisions when we are out there in the executive world. What are some of the steps we can take in making great decisions? We have all spent years and years teaching some of the most effective and successful executives on the planet how to make quality decisions. From our conversations together, we have it boiled down to eight steps—eight things you need to know and you need to do to make great decisions. Here is the second thing: 2. Assess the Facts, Not Opinions I’ve gone into organization after organization, and I know that we all have opinions and we see people getting everybody else’s opinions. But it’s not time for opinion is yet. First we need to know what we know. You have to look behind people’s opinions.
  • Four Questions You Should Ask About Private Equity – Question 1 - How many of you have ever had friends come to you and say, “I am starting a business. Would you like to invest?” I guarantee this: As you use the content we are sharing with you, as you become wealthier, you will have lots of people come to you. The one thing that I am pretty much willing to bet is that you have never seen a book that tells you what to say when somebody says that to you. I have been reading books on these subjects for years and have never seen it.
  • Four Questions You Should Ask About Private Equity – Question 2 - The next question that you want to ask is, “Have you ever done it before?” Here is a small secret: 95% of all businesses go bankrupt in the first three years. That is pretty much standard worldwide. One of the things that should clue you in on this is if they come to you and say, “I have this great idea…” “I have a million-dollar idea.” Million-dollar ideas you can get for a dime a dozen. Think about that for a while and it will put you in a trance. The idea is not important. The implementation of it is everything. The discipline to carry it off is everything. You want to know if they have done it before.
  • Stop Wasting Time – Learn to Make Decisions Faster - Every success starts with a decision. The biggest waste of time, the biggest waste of life, for most people is the decision they need to make but haven’t made because they can’t make up their mind. There is power in a made-up mind. Every one of us is a decision maker. We have 50,000 to 100,000 thoughts a day. Consider executives. During the year these men and women have to make hundreds, thousands, maybe tens of thousands of decisions. If they give equal value to every decision, no decision is that important. They may give equal time to a $1 million decision, a $100 decision, or a $10 decision as to a $100 million decision or a $1 billion decision. Let’s have fewer decisions that have to be made. Let’s resolve to make fewer decisions.
  • A Cash-Flow Positive Business of Your Own – Must Do #5 - We’ve discussed the importance of using other people’s money to invest in your company, keeping your fixed costs as low as possible, keeping the ratio of direct costs to indirect costs very high, and having a profitable business model.
  • Extend Your Philanthropy Past Money - Do Not Burden Your Children with Unearned Wealth While you want to give your money away, you want to give it to people and causes that will truly benefit from it.
  • A Cash-Flow Positive Business of Your Own – Must Do #4 - We’ve discussed the importance of using other people’s money to invest in your company, keeping your fixed costs as low as possible, and keeping the ratio of direct costs to indirect costs very high. Now, here is the fourth thing you must do to have a cash-flow positive business. 4. You want to have an insanely profitable business model. You all have seen books and articles about business models; the only problem is that nobody ever bothered to define what one was. We define a business model as a brief, concise description of why your business makes money. A business model is a brief concise description of why your company makes money. It should be understandable to anyone because you are going to hire very average people.
  • Get On With It! Step 1 to Making Decisions - It is very simple. Time spent not making the important decision is time wasted. You have to make good decisions. Have you ever been driving down the road behind someone who is indecisive? It is terrible; they wander up and down the road. They pull off to the side.

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