A few insights from business and finance author and coach Keith Cunningham who I had an opportunity to learn from recently.
He is known for Keys to the Vault, which focuses on investment strategies based on lessons he’s learned along the way from his wins and his failures.
He says, “most business owners try to get rich from profits rather than thinking about how to sustain their business.” Sustainability is the result of measuring the what and the how (skills and tools). He notes that the best in the world are “Measuring Freaks.”
What gets measured, gets done. What gets measured is what gets managed. He says, “if you want to improve your business, start measuring it and you will be stunned. Measure it and then report it.” He asserts that there is no better way to grow and sustain your business.
Ask yourself these two questions:
1. How effective am I at converting assets into sales?
2. How effective am I at converting sales into expenses?
He also has a very direct but down to earth way of explaining balance sheets, income statements and cash flow.
What I like most about Keith is his authenticity, his bluntness and his humor. A native Texan himself, he has no problem making fun of Texan so called culture with jokes and digs. And, audiences seem to love them.
A l’il humor and bluntness all rapped into one and he’s right – ‘if you’re not willing to say what needs to be said to fix a problem or an issue in the business that’s not working, then go get a job.” In other words, you get what you tolerate, which applies to our personal lives as well, doesn’t it?
A few other great insights and reminders that you can apply effectively in your business as well as your lives:
- If you put up with mediocrity, you will get mediocre results in your business. (and your life)
- Good is the enemy of great.
- Great is the enemy of mastery.
- Doing the best that you can is the path to good.
- Doing whatever it takes is the path to mastery.
And, I love this one for those not living out their purpose. “Hell on earth would be to meet the man or woman you could have become.” Powerful my friends…….powerful.
Renee Blodgett is the founder of We Blog the World. The site combines the magic of an online culture and travel magazine with a global blog network and has contributors from every continent in the world. Having lived in 10 countries and explored nearly 80, she is an avid traveler, and a lover, observer and participant in cultural diversity.
She is also the CEO and founder of Magic Sauce Media, a new media services consultancy focused on viral marketing, social media, branding, events and PR. For over 20 years, she has helped companies from 12 countries get traction in the market. Known for her global and organic approach to product and corporate launches, Renee practices what she pitches and as an active user of social media, she helps clients navigate digital waters from around the world. Renee has been blogging for over 16 years and regularly writes on her personal blog Down the Avenue, Huffington Post, BlogHer, We Blog the World and other sites. She was ranked #12 Social Media Influencer by Forbes Magazine and is listed as a new media influencer and game changer on various sites and books on the new media revolution. In 2013, she was listed as the 6th most influential woman in social media by Forbes Magazine on a Top 20 List.
Her passion for art, storytelling and photography led to the launch of Magic Sauce Photography, which is a visual extension of her writing, the result of which has led to producing six photo books: Galapagos Islands, London, South Africa, Rome, Urbanization and Ecuador.
Renee is also the co-founder of Traveling Geeks, an initiative that brings entrepreneurs, thought leaders, bloggers, creators, curators and influencers to other countries to share and learn from peers, governments, corporations, and the general public in order to educate, share, evaluate, and promote innovative technologies.
