Its a story of people, underdogs, belief, and the industrial machine that has crushed it.
People are the ultimate reason.
They have needs - and thus we develop and sell.
They need to participate economically - and thus we employ and use.
They have social desires - and thus we build and facilitate community
But most of all - they have a self-image.
One of the best self-image turnarounds is when someone, anyone gets a job that
1. Gives them confidence they can do 2. Money so they can buy and participate 3. Team so they are part of something bigger than themselves 4. Challenges to learn and grow
Small businesses are one of the best employers of the everyday person.
- The young man who wasn't able to finish high school
- The recently single mom who never had to think about economics before
- The you woman who wasn't given the same opportunities as her male counterparts
These individuals will find themselves employed, more often than not, in small businesses.
Small Businesses have the opportunity to
- create culture
- provide economically
- develop personally
To heal the brokenness that is inside many damaged self-images.
So where do processes and systems fit in?
Either due to confidence, education, knowledge, or self-destructive self-images...
... many of the people who need the work the most for a turnaround, are not capable - as is - of doing it.
A well-defined process allows anyone to mimic and execute on well thought out strategy.
A system allows them to easily integrate with others above and below them without issue.
Processes turn the underdog into a hero.
One of my core beliefs is this:
Your labor force is the most untapped source of
- creativity,
- innovation,
- differentiation, and
- raw power
One of the best first steps in helping tap that is to give your people a sense of
- participating
- executing
- success
Systems allow this regardless of someone's background
Think of systems as a turning point, a trajectory shift.
Confidence breeds more confidence.
Mimicking well thought out processes enables them to think differently
Participating raises a belief that they can contribute
Nothing touches my heart more than seeing someone who thought they would never amount to much, be able to
execute
and thus contribute
and thus earn more in wages and knowledge
and thus provide for a life for themselves and those around them, they never thought possible.
The industrial machine has turned systems into ceilings.
It has turned processes into bosses.
But, a system can be a floor, a ladder, a way to enable not inhibit.
This is why I love small businesses & systems...
... because I love people & humanity.
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Wealth building isn't really a gradual process, it happens in step-wise functions.
Because of this (and the way people are wired), modern portfolio theory is just that... a theory.
The strategy that will actually help you build wealth is a barbell approach.
Helping 10 people manage / invest 10mil+ right now and its the best for all of them.
People have a tendency towards risk, gambling, the large payoff.
Rather than constantly trying to educate and remove that innate tendency... use it as part of the investing strategy
Creating a safe portfolio, that always trends up over the long term, and has a small chance of declining, enables a riskier approach with the remaining funds.
This riskier approach should include asymmetric bets that will enable step-wise growth in wealth.