Bill Bartmann was a 14-year old runaway who joined a street gang, became an alcoholic at the age of 17; and then worked at a slaughterhouse to put himself through college. Would you take advice from someone who lived this lifestyle?
Bill Bartmann is one of the greatest business experts of all time; highly recognized, greatly respected and very successful, many times over. His success at becoming a self-made billionaire was examined as a case study at the Harvard Business School.
Bill Bartmann says to get big, think small; at least three critical elements of your business should fit on a napkin.
What is Your Business?
Bill Bartmann teaches his students how important it is to have a business plan with an executive summary; however, you also need a napkin-sized paper that states what you business is really about.
On Bill Bartmann’s napkin, it says, “We treat delinquent borrowers with dignity and respect. As a result, they pay off our debt first.”
This is the statement that helped Bill Bartmann’s debt collection company be thee first to be rated by Standard & Poors. Every successful business needs a defining message that clearly states what makes them different from their competitors.
What is Your Number?
When Bill Bartmann graduated from law school he was focused on earning a decent income. In 1975, when the average first-year associates were earning $40,000, Bill Bartmann opened his own practice. People told him he was crazy not to start out in a big firm as he went his own way and made $100,000 his first year.
Bill Bartmann believes having a clear idea of your income goal will help you to reach it. What number did Bill Bartmann write on his napkin?
Think about it as you consider Bill Bartmann’s way of measuring monetary success. Bill Bartmann build a multimillion dollar business in real estate; on paper, his net worth looked great. This isn’t necessarily an accurate measure because it must be converted to money before it can be spent.
Bill Bartmann’s 40 years experience in business led him to measure monetary success with cash flow. Know exactly how much money you have in the bank, minus obligations that are nearing their due date. Of course there are other financial measures that make up the big picture, but keep your main focus on the critical napkin number.
How is your Business doing?
You might need a large dinner napkin for this one, but that is the size limit. Bill Bartmann used one sheet of paper, containing a few dozen key metrics for his company. By having one single sheet of paper to refer to each day, he was able to quickly spot and address problems.
Avoid being overwhelmed by multiple spreadsheets; cut your business measurement tools down to one page of numbers that are leading indicators of your business success. Simply looking at revenues and expenses is only looking at the past; this is no way to run a business.
Avoid information overload and get down to the true essence of what your business is about and where it is heading. By reducing the clutter you will achieve your goals quicker.
Bill Bartmann is the creator of the Billionaire Business Systems, an online business essentials course for entrepreneurs. Bill Bartmann’s series of videos, books and seminars has helped many entrepreneurs succeed in business even during tough economic times. Read Bill Bartmann's article How to Write a Business Plan.
Showing posts with label business tips. Show all posts
Showing posts with label business tips. Show all posts
Saturday, November 28, 2009
Sunday, April 26, 2009
Bill Bartmann Business SuccessTips: Visualize Success
Do you want your business to succeed? Who doesn't! But how much do you want it to succeed? Can you see the success of your business? Can you feel what it would feel like to see your business where you want it to be? If not, your lack of ability to visualize it may be what is holding you back.
There has been a lot of talk in recent years about the Law of Attraction. The Law of Attraction is a belief that your positive thinking and ability to visualize things in your life can help bring them to pass. While you may not be sure if you believe in the idea, you should give it a little merit.
Visualizing Success
Bill Bartmann's tip #1 to visualize success is to literally make a vision in your head of a successful business. Take the time to picture what your business would look like if it were completely successful. What would the office look like? What would your paycheck look like? How would you feel? Visualize everything you can in as great of detail as you can so you can completely feel as if you have had the experience of that successful business.
This can take more work than you think. It's easy to give yourself a 'general look' at how things will be down the road, but really visualizing the details takes a lot more work. One way to do that is to take notes as you start to be able to visualize how things will be. This does two things. Not only will it help you remember what you have visualized, but by writing it all down, you will be committing it to reality as your mind often believes what it reads better than what it sees.
Visualize the Path
Bill Bartmann's tip #2 to visualize success is to visualize the path to success for your business. What steps will you have to take to get to where you want to be? Chances are there are a lot of small steps that will have to be taken to get you to that final destination. It’s time to now map them out and be able to see each and every one of them. For example, if you are just beginning a business, you may want to visualize getting everything in order and then having a wonderful grand opening. Next visualize business picking up regularly. Then visualize that major client that will come in and move your business to the next level. Will you move to a new office? Open a new branch? Visualize the path as you continue towards your path of success. Make sure to follow the path one step at a time in your mind until you are where you want to be in the future.
Again, it is wise to write these things down keeping a journal is a great way to wrap your mind around your vision of the road to success.
Bill Bartmann is the creator of the Billionaire Business Systems, an online business essentials course for entrepreneurs. Bill Bartmann’s series of videos, books and seminars has helped many entrepreneurs succeed in business even during tough economic times.
There has been a lot of talk in recent years about the Law of Attraction. The Law of Attraction is a belief that your positive thinking and ability to visualize things in your life can help bring them to pass. While you may not be sure if you believe in the idea, you should give it a little merit.
Visualizing Success
Bill Bartmann's tip #1 to visualize success is to literally make a vision in your head of a successful business. Take the time to picture what your business would look like if it were completely successful. What would the office look like? What would your paycheck look like? How would you feel? Visualize everything you can in as great of detail as you can so you can completely feel as if you have had the experience of that successful business.
This can take more work than you think. It's easy to give yourself a 'general look' at how things will be down the road, but really visualizing the details takes a lot more work. One way to do that is to take notes as you start to be able to visualize how things will be. This does two things. Not only will it help you remember what you have visualized, but by writing it all down, you will be committing it to reality as your mind often believes what it reads better than what it sees.
Visualize the Path
Bill Bartmann's tip #2 to visualize success is to visualize the path to success for your business. What steps will you have to take to get to where you want to be? Chances are there are a lot of small steps that will have to be taken to get you to that final destination. It’s time to now map them out and be able to see each and every one of them. For example, if you are just beginning a business, you may want to visualize getting everything in order and then having a wonderful grand opening. Next visualize business picking up regularly. Then visualize that major client that will come in and move your business to the next level. Will you move to a new office? Open a new branch? Visualize the path as you continue towards your path of success. Make sure to follow the path one step at a time in your mind until you are where you want to be in the future.
Again, it is wise to write these things down keeping a journal is a great way to wrap your mind around your vision of the road to success.
Bill Bartmann is the creator of the Billionaire Business Systems, an online business essentials course for entrepreneurs. Bill Bartmann’s series of videos, books and seminars has helped many entrepreneurs succeed in business even during tough economic times.
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