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Success Building Blocks: Self-Control

By Bigg Success Staff
07-10-08

Timeless Principles

success_pyramid

John Wooden was arguably the best coach in the history of college basketball. He developed the Pyramid of Success, a wonderful tool to succeed bigg in any endeavor you choose.

So far, we’ve looked at the five blocks that form the foundation of the Pyramid – from left to right –  843 Industriousness], 903 Friendship], 986 Loyalty], 945 Cooperation], and 879 Enthusiasm]. Now we’ll move to the second row of blocks.

This time we’ll look at the block that sits on the far left side of the second row, sitting atop Industriousness and Friendship.

Self-Control

Wooden says, “If you lose self-control, everything will fall.” It’s important to learn to control our emotions. There will be times when things won’t go our way. How we respond will be critical to achieving success.

It’s important to use good judgment and common sense as we approach each day and each decision. Misfortune may beset us, but we must recognize the good things in our life at every moment. Otherwise, we may wallow in self-pity and accomplish nothing.

Wooden wanted his teams to get just a little bit better every game. Slow and steady growth trumps peaks and the inevitable valleys. So use self-control to move yourself a little bit closer to your goals every day.  

Hear today's lesson and laugh on The Bigg Success Show. 

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Before Going into Business with Friends, Consider These 8 Scenerios

One thing people often don't think about when going into business with a friend is the relationship itself. You’re going into business as friends. You want to remain friends.

Business is full of surprises. Discuss the possible surprises upfront, before you mix friendship and business, so you can keep your relationship strong while you’re in business.

You may think your friendship is really strong … and you’re probably right. But when you go into business together, your friendship will be tested more than it ever has been before. It’s wise to prepare for it beforehand, so you already have a lot of the answers when you’re in the middle of a tough situation.

Look at it this way – a business partnership is like a marriage. You need a pre-nuptial agreement! So find a good attorney to draw up an agreement for you.

8 “What if …” scenarios to discuss with your attorney

#1 – What if the business fails?
According to statistics, if the business fails, it’s most likely that no one will be owed any money. But what if that’s not the case – what if the business does owe money? How will you resolve that?

#2 – What if it succeeds wildly?
That may not sound like a problem, but you’d be surprised. Sometimes when a business succeeds at this level, greed enters in. Then comes the power struggles. Discuss the dream scenario upfront to avoid a nightmare.

#3 – What if one of you is incapacitated?
What if one partner is no longer able to do his or her part? How will the others handle this? Will this person get bought out? Is there formula for the price? There’s a lot to think about if this unfortunate situation happens.

#4 – What if one of you dies?
Obviously this is even more extreme than the last scenario. There’s the human side – your friend has passed and you’re grieving. But you also have business to attend to; work still needs to get done.

Many of the same questions from Scenario #3 apply here. But there’s more. For example, does the deceased partner’s family now have an ownership stake? Or do you buy them out?

#5 – What happens when one of you gets married?
Or you may already be married. What say does the spouse have in the business? Can the partner’s interest be jointly owned with a spouse or do you want to restrict ownership to your original group?

#6 – What if one of you gets divorced?
The business interest may be a significant asset. You probably don’t want a former spouse having a say in your business – even as a minority stakeholder. It can really muddy the waters, as the saying goes. What restrictions will you place on ownership?

#7 – What if one of you wants out?
How will you determine a price? What kind of notice will you require? What is the process?

#8 – What if one of isn’t pulling his or her weight?
How will you determine that this is case? What can, and will, you do about it?

These aren’t pleasant things to think about, let alone talk about. However, you’re more likely to find good solutions now when you’re thinking logically than to try to work them out in the heat of the moment.

We can’t stress this enough – get a good business attorney.
Then sit down with your partners and your attorney and work through these issues. Your attorney will probably have even more situations to discuss. Work through these issues before you start – for the sake of your friendship … and your business.

 

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Success Building Blocks: Loyalty

By Bigg Success Staff
07-03-08

Timeless Principles

success_pyramid

John Wooden was arguably the best coach in the history of college basketball. His contributions to success literature, though, possibly exceed his accomplishments on the court. He developed the Pyramid of Success, a wonderful tool to succeed bigg in any endeavor you choose.

We’ve looked at four blocks of his Pyramid so far. We started with his two cornerstones –  843 Industriousness] on the left and 879 Enthusiasm] on the right. Now we’re looking at the three stones that fill out the foundation. We began with 903 Friendship], the block that sits next to Industriousness. Last time, we talked about 945 Cooperation], which sits next to Enthusiasm.

This time we’ll look at the block in the middle of the foundation – Loyalty.

Loyalty

You have to start with a solid foundation if you’re going to have a strong building. Building a successful life also requires a firm base.

When Wooden talks about loyalty, he first speaks of being loyal to yourself. You have to be true to your ideals … to your core values … in order to respect yourself when you look in the mirror.

If you’re not loyal to yourself, you won’t be loyal to others. So that’s the starting point of loyalty.

Loyalty to others earns you their trust, which means they will help you when you need it. If you don’t earn their trust, or perhaps more specifically if you earn their distrust, people will shy away from you.

If you put the interest of others equal with your own, you will build relationships. If you stay true to those relationships, you’ll build bigg success! 

Hear today's lesson and laugh on The Bigg Success Show. 

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Success Building Blocks: Cooperation

By Bigg Success Staff
06-25-08

Timeless Principles

success_pyramid 

John Wooden, arguably the best coach in the history of college basketball, developed the Pyramid of Success. It’s a wonderful tool to succeed bigg in any endeavor you choose.

So far, we’ve looked at three blocks of his Pyramid. We started with his two cornerstones –  843 Industriousness] on the left and 879 Enthusiasm] on the right. Now we’re looking at the three stones that fill out the foundation. We began with 903 Friendship], the block that sits next to Industriousness.

Now we’ll look at the block that sits next to Enthusiasm.

Cooperation
It takes a solid foundation to make a building strong. Success must also be built on a solid base if you want it to last.

Cooperation is one of the blocks upon which to build. Cooperation begins on the inside. You must have a spirit of cooperation. Then, that attitude is displayed by your behavior.

One way that you show your willingness to cooperate is to understand the other person’s point-of-view. Try to see what the other person is seeing. Try to feel what the other person is feeling. Then you can think how the other person is thinking and you’ll accomplish more. 

Another part of this is a genuine desire to help people. Wooden talks about cooperating with your co-workers at all levels. If you develop the habit of helping people who need help, you’ll succeed. Whether it’s the CEO or the janitor, do what needs to be done to help your team win!

Hear today's lesson and laugh on The Bigg Success Show. 

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Should You Go Into Business with a Friend?

By Bigg Success Staff
06-19-08

Bigg Success in Business

friends

You have an idea for a business. You’re excited. But you need help – help to get the work done, help to finance the business, help with any number of things.

You tell your friend about your business and she gets all excited too. She wants to help. She wants to be your partner.

Fantastic!

Or maybe not …

It’s often true that friends who go into business together don’t remain friends. And they don’t make it as partners, either!

Now, business partners may become friends. It just seems that, when friends become business partners, the friendship and the business often suffer.

If you still think it’s a good idea to go into business with a friend, here’s a suggestion. Except you shouldn’t think of it as just a suggestion. You should view it as something you absolutely have to do before you launch the business with your friend.

A business partnership is like a marriage. You need a pre-nuptial agreement.
So have your business attorney draw up such an agreement. To figure out what should be in the agreement, sit down with your attorney and discuss all the “what ifs”.

Here are a few examples:

  • What if the business fails?
  • What if it succeeds wildly?
  • What if one of you is incapacitated?
  • What if one of you dies?
  • What if one of you gets divorced?
  • What if one of you wants out?

These aren’t pleasant things to think about, let alone talk about. However, discussing them now while you’re friends beats trying to work it out later when you might not be so friendly.

There’s no money better spent than the money you’ll spend to have your attorney walk you and your friend through scenarios like these. If you insist on going into business together, then establish the boundaries of your business relationship upfront. 

Hear today's lesson and laugh on The Bigg Success Show. 

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