I spend all of my time every day working with business owners. In fact, I have spent over 25 years working with business owners and learning from them – the good and the bad.  One of the things that I have learned is that most business owners make more money when the economy is booming and barely get a paycheck when the economy is doing poorly.  Sound familiar?  And in recent economic times … it’s been literally months since many business owners have taken a paycheck from their businesses.  Roller coaster, treadmill, hamster wheel – it’s all the same. 

The amazing thing is that these business owners do it over and over again.  Never getting ahead … making good money for 5 years …. Losing more in the next three …. Making good money for 5 years = 13 years and still in the same place – no savings, no wealth to rely on. 

The question is: Why?

The answer is:  The failure of these business owners to recognize that they actually don’t know it all!  I can hear them now:  “I’ve been in this business for 13 years, I’ve seen it all.  I’m doing everything possible.”  My response:  “OK – if you’re doing everything possible how come your competitor down the street just bought a Mercedes and you haven’t taken a paycheck in six months?” 

The simple truth is that we all know what we know based upon our experiences. The only way for these roller coaster riders to truly break out of their rut is to experience what they have not yet experienced because that is where true wealth will be found. 

Sound like double-talk?  To the roller coaster business owner … I’m sure it does.

 To the business owner who makes money and builds business wealth in every economy – it makes perfect sense:

 These business owners understand that in order to win all the time, they must constantly learn new ideas, new ways of doing business, learn how to improve themselves in the areas of business that they are not experienced in. They are constantly looking in the mirror and honestly evaluating themselves and their performance. Then, they reach out to gain the knowledge, the experiences, from those who already have them.  So who are you … the roller coaster rider or the consistent winner who builds wealth in every economy?

 TO BE CONTINUED …

Jim Malski, Founder ActionCOACH of CT