Immature Entrepreneur

I’m a big, big believer in karma. I’ve seen it’s effects in my life, both good and bad. In fact, I train several of the people I work with on the principles taught in the book “The Secret” by Rhonda Byrne. If you’ve never read this book, you should. It’s one of those books that has the power to change your life. You’ll kick yourself for not having read it sooner.

What many of us think when we hear that we should give is “Oh, I don’t really have the money to donate.” Or maybe “I’m too broke to be able to do that.” Okay, fair enough. We’re dealing with a tough economy out there and transitioning from the Industrial Age to the Information Age. It’s accurate to say that things are challenging right now and there’s even more change looming on the horizon.

One of the things I challenge my coaching clients on (especially business owners) is not to only quantify things in terms of money. For example, when you hear that it’s good to give, the first thing most of us think of is giving money. Money is merely one aspect of life. It’s important, but certainly not the most important. Here’s a list of a whole bunch of neat things you can give that don’t involve making it rain with dolla bills:

• Smile at a stranger
• Hold the door open for someone
• Donate your time to a local charity
• Become a mentor for someone looking to break into your industry
• Go through your closet and donate a bag of clothes you never wear to good will
• Say thank you
• Say I love you
• Allow another motorist to go first
• Hold an elevator door to allow someone to hop in with you
• Hug someone you care about
• Advice

The list goes on and on. Pretty cool, huh? Mother Theresa used to say that she was one of the most selfish people on the planet. How could this be, you might ask? Because she thrived on the feeling of making others feel good and built her life around this principle. So start looking for opportunities to make a difference in others’ lives. The little things are the big things. You’ll be amazed at how good you’ll feel afterwards. Besides, that little karma boost could never hurt.

Growing up, we were all likely taught the same thing. Go to school, get good grades, get into a good college (and amass a ridiculous student loan debt in the process), find a “secure” job, work there for 45 years and then retire at age 65 and live the good life. Sounds good in theory. However, as many baby boomers who had planned on retirement over the past several years can attest, it does not work out so well in practice.

The primary reason this path no longer works is this: we are no longer in the Industrial Age. The Industrial Revolution ushered in decade after decade of ever-increasing productivity and economic growth. The afore-mentioned path worked while we were in the Industrial Age, but most certainly does not work today. Think about it. We now operate in a global economy. Things are different. Factory jobs can easily be outsourced to foreign countries where the wages are immensely cheaper. An American factory worker simply can’t compete with a person in China earning a dollar an hour. And when you contact customer service and hear that Indian accent on the other end, that person’s wages are probably less than 1/10th of what it would cost a company to pay an American worker. It’s not fair, but it is the reality we face.

That having been said, it’s not all gloom and doom. Change always ushers in opportunity, as long as you’re open minded and smart in terms of how you respond to said change. Today, we now live in the Information Age (also commonly referred to as the Digital Age or the Knowledge Economy). Today’s opportunities reside in what you know, not how many hours you’re willing to work per week. The days of being a good employee and doing what your boss tells you are rapidly fading.

America will once again have to embrace it’s roots, namely entrepreneurism. We won’t look for jobs; we’ll have to create jobs. We won’t be paid by the hour; we’ll have multiple streams of income. We won’t have 401k’s, pensions or social security to get us through retirement; we’ll need sources of residual income. Like it or not, these changes are here. Welcome to the new normal. We can complain all we like but it’s not going to set things back to the way they were. Our only option is to adjust to these changes and see the opportunities that lie within. And it’s that strength of character, fortitude and never-say-die attitude that will help us navigate through this sea of change. Those same remarkable qualities are exactly what this great country of ours was founded on.

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” ~ Charles Darwin

With the passing of another year, it’s common to reflect back to see where we’ve been, what we’ve accomplished and whether we’re on track to get where we want to be. Based on that analysis, the next step is to create goals for the new year, hence the “New Year’s resolution” tradition. Good stuff.

The question, for most, becomes how does one go about setting a New Year’s resolution? I would add an addendum to that query–how does one go about establishing an effective New Year’s resolution that you will actually follow through on? I see this play out at the gym every January. There are dozens of new members that show up after January 1st of each new year. They start off with the best of intentions, sweating and pumping and grunting (I promise we’re still discussing exercise here). However, by the 3rd or 4th week of January about half of those newbies disappear. By mid to late February, nearly all of them are gone.

Change is tough. It’s much easier to stay inside our comfort zones where it’s warm and cozy. Sometimes we’re even willing to trade our health or happiness for the familiar. And life is too short for that.

So this year, rather than just setting another resolution to lose weight, exercise more, save mo’ money, spend more time with the kids/spouse, and so on, resolve to stick to your resolution, whatever that resolution may be. Then go from there. Make your goal specific, realistic and attainable and track your progress daily.

Remember, everything in your life is there as a result of your choices. The wondrous thing about life is that you have the ability to choose to do something about it. Now smile and go take on the day.

Most people’s plan is to save as much money as possible so we can retire at age 65 and live off our nest egg. In theory this seems sound. Besides, everyone else is following this path. So it must work, right? Wrong.

There are 3 primary flaws with this plan: 1) You’re always living for tomorrow, thereby unable to enjoy today. And that is no way to live. 2) You are stuck in the rut of trading time for money. Frankly, time is the most precious commodity we have. Once it’s gone, it’s gone. 3) The amount of money you would need to save over the course of your lifetime in order to live off the interest your money generates is simply obscene and completely impractical for the average wage earner (and even for the above average wage earner).

So unless you want to work a “retirement job” until the day you die, do not do what everyone else is doing. The rules of the game have changed. Rather than focusing solely on investments, pensions, 401k’s, social (in)security and the like, today everyone should be working towards creating a residual income. Residual income is where you perform an action once and get paid repeatedly. A great example of residual income is when an author writes a book. He or she writes a book once yet is paid over and over again every time a copy of the book sells. That’s the concept behind residual income.

So if you want to get control of your finances, your security and your future, start researching means of creating a residual income. This is the single most important thing one can do to get your life back and get out of the rat race.

Every one of us carries around an invisible bucket each day. There are 2 types of people we may encounter throughout our day that have an impact on our bucket: 1) those that fill our bucket, and 2) those that drain our bucket. I imagine a bucket drainer is already coming to mind as you read this.

Spending time around negative people has a much stronger effect on us than most of us realize. I’ll give you a perfect example. My grandmother, who I love dearly, lives to complain. She is most definitely a “glass half empty” type of person. Grandma is not happy unless she’s griping. If you ask her how she’s doing, the first thing you typically hear is about her poor health or her latest illness. She’ll complain about her last trip to Walmart or something she saw on the news that angered her. Maybe a neighbor did something that she didn’t agree with so she wrote him off as a friend. Sheesh, even writing about this is dragging me down…

Although it pains me to say it, the best way to deal with grandma and other negative people like her is in small doses. If you allow too many negative people in your world, they will drag you down to their level, perhaps unintentionally but this is the outcome nonetheless. Spending time around negativity will drain you of your energy and potentially leave you feeling down in the dumps. It can cause you to develop a negative outlook as well.

So when somebody hits you with a negative comment or some other form of drama, respond with something positive to counter it. Lead by example. In my case, I usually respond to my grandmother with, “Oh grandma, I’m just glad to see you.” Typically that stops her negative remarks in their tracks. Whatever you do, avoid jumping on the negativity train at all costs. Negativity is contagious and it’s up to you to show a different (positive) path.

The Kangarew Story — Follow Your Passion

I knew I was always an entrepreneur at heart. It just took me to graduate from college to realize I wasn’t happy or content purusing a job that would make me feel “safe” or guaranteed $60,000/year. Accounting jobs, anyone? I seriously started to consider jobs because of the job security and benefits, instead of thinking in terms of: “would I enjoy doing this type of work with my free time?”

As I finished up school, I was confused but fate would have it I read a controversial book that would ignite my entrepreneurial side again, and it was pretty much game on at that point. Shortly after, I identified a pain point that myself and others alike experienced: carrying a bulky wallet everywhere I went. Not to mention, it was yet another thing that I had to worry about in my life. I quickly realized that the iphone wallet case already existed, but none of them were natural, simple or beautiful, for that matter.

Enter the Kangarew concept.  My father showed me minimalistic practices growing up when we took our backpacking treks in Idaho.  His hero is John Muir, who used to vagabond the Rocky Mountains with nothing else except “a tin cup, a handful of tea, a loaf of bread, and a copy of Emerson.”

Growing up exposed to these ideals, it was easy for me to embrace simplicity and minimalism.  Essentially, the Kangarew concept is to eliminate another mainstream item in your life: the traditional wallet.  By combining this with your iphone, you are embracing the minimalistic lifestyle that is suitable for those who like to do with less.  You just throw your charge card and ID into your iphone wallet case, and you are good to go.

This is my story. It still has a long way to go, but the biggest thing is that I started it and I am committed and passionate about the concept.

What is a pain point that you have identified in society?  What are your passions?  How would you spend your time if money wasn’t an issue? What types of things would you do with all this free time?  Make a list at what you are passionate at (or good at) and figure out what is lacking or struggling in that area or industry.

Finally, focus on one idea and then go crazy with it.

For more information, please visit: http://www.kangarew.com/

The term “bosshole” is one I first heard coined on a local Kansas City radio station by edgy DJ Johnny Dare. Without exploring its obvious connotation, the word expresses the frustration so many people feel in their jobs. There are 2 primary reasons some bosses are jerks:

1. Your boss lacks the education, experience, training, leadership skills and so on to effectively manage people.
2. Your boss is in the power position, meaning you need him/her more than he needs you. You screw up and you’re disciplined or worse yet, fired.

I’ll admit this is probably not the answer most want to hear, but the best way to deal with a difficult boss is to leave your job. I’m not suggesting you do something foolish if you’ve got bills to pay. Rather, it’s time to come up with an action plan to ease your way out of the situation. The reality is your bosshole is very unlikely to change so the only realistic option is to remove yourself.

That solution addresses issue # 1 above. Issue # 2, however, is far more important. I am a firm believer that every one of us is on this Earth for a reason. We all have something special inside us that we need to express, that makes us come alive. That is where your vocation should come from (as opposed to chasing money).

In the next couple decades, we’ll see a shift in our society with regards to employers holding the power (which is the creation of many bossholes). As quality employees begin to follow their passion and launch their own ideas/businesses, the power will transition away from employers and into the hands of the (former) employees. Smart companies will recognize this and begin to pursue strong individuals more. We’ll see higher pay, fewer hours, more working remotely/working from home, more overall flexibility, and so forth. Bossholes will slowly become a thing of the past as we stop looking for others to employ us and we begin employing ourselves. We will begin to regain our entrepreneurial roots which helped make this nation great.

In short, a good way to deal with a bosshole is to find a different job. The best way to resolve the problem, however, is to stop looking for a job and go create one. This is, of course, assuming the person reading this isn’t a bosshole…

There are 2 primary types of intelligence: intellectual intelligence (the type we most commonly think of) and emotional intelligence. Emotional intelligence, simply put, is the ability to manage one’s own emotions in an effort to live a more effective and harmonious existence. Wow. Deep stuff, eh?

So why is emotional intelligence important? Let’s run through a brief example to help it all gel and make sense. I did business with a contractor a while back who did amazing work. Amazing. This guy really knew his stuff. When he picked up a hammer and nails, art channeled through his hands. His dedication to producing quality work was simply outstanding. Me? If I try to hammer something, get ready to patch a wall. Or mend my broken hand. Time to bust out that Snoopy bandage.

Now when it came down to interacting with this person, it was unfortunately nightmarish. He had terrible mood swings. I never knew which personality we’d get on any given day. And when discussing issues concerning the job, at times he would explode and become verbally abusive. I remained calm which eventually helped him to relax and ultimately he would apologize for the outburst. I think he genuinely felt bad after the fact.

That, my friends, is why emotional intelligence is important. You can be the best (insert vocation here) in the world but if your emotions run rampant and you upset or offend those you do business with, you’re not going to get very far.

The takeaway is this–manage your emotions or they will most certainly manage you. And that’s not good in the professional or personal realm.

Whenever I hear the line “take this job and shove it,” I immediately experience a flashback to that cheesy 80s flick “9 to 5″ starring Dolly Parton. Dolly worked for a tyrant that was a real bosshole. Eventually she got fed up with the way he treated her and reached her breaking point. She told off her boss in front of the entire office and stormed out, much to the admiration of her co-workers who had likely often fantasized about doing the same thing.

As gratifying as that scenario seems, the reality is you should never burn your bridges. Who knows what the future may hold? You just don’t know whether you may cross paths again with that same bosshole you told to go play in traffic. Fast forward 5 years after the incident and you walk into a job interview only to see that same creep sitting across the table from you smirking. Or worse yet, perhaps you go into business for yourself and he enters your office as a potential customer. That is no bueno.

There’s a difference between intellectual intelligence and emotional intelligence. If you can master your emotions, it’s much more wise to simply part ways under amicable circumstances. Be the bigger person. Let the bosshole be the bosshole that he is. You never know, he could one day have a change of heart and become your best customer. And what’s more gratifying than milking that jerk for his money?

Life is tough. It’s true, no point in denying it. The nature of the human experience is such that we must overcome challenges in order to win at the game of life. Sometimes we’re able to triumph over those challenges fairly easily and other times they knock us flat on our butts (insert Kim Kardashian reference here).

That’s where the potential for negativity comes in. It feels comforting to know that there are others out there who share our pain. It’s good to know you’re not alone (Michael Jackson even wrote a song about it). As the saying goes, “misery loves company.”

The unintended drawback here is that when we complain to others in an attempt to gain a little sympathy, that negativity becomes contagious. Being negative can ruin your day. It can drag others down. It draws more negativity back into your world. And it can even impact your health if left unchecked.

So the next time you’re feeling down in the dumps and life has kicked you square in the nards, try to go a different route in terms of how you respond. Try not complaining. Instead, smile at a stranger. Hold a door open for someone. Give a server a larger than normal tip at lunch. Call an old friend. Go all kinds of positive on that negativity and you’ll stomp it out before it can get it’s hands around your day.

And that’s how you begin to win at the game of life.