I have spent a lot of time reflecting over the past two months.
The world has changed… Some say for the better. Some say for the worse.
We haven’t been able to socialize like before…
Travel like before…
And, in some cases, work like before.
Now the lockdown has started to ease in several countries and a new normal is emerging…
I have a big philosophy in my life: I only worry about things I CAN control. The things I CANNOT control I don’t worry about.
What can’t we control?
COVID-19… government lockdowns… financial markets… interest rates… politics…
(Although we can influence some of these items through collective action.)
What can we control?
We can control our mindset. We can look for the GOOD in anything (or anyone).
In Stephen Covey’s excellent book The 7 Habits of Highly Effective People, the first habit he lists is RESPONSIBILITY.
You can break it down into two parts – RESPONSE and ABILITY, your ability to respond.
Often, we can’t control what’s happening on the OUTSIDE, but we CAN control how we deal with it on the INSIDE.
I have been locked down in the U.K. countryside for the past two months…
I’ve not been able to travel to the U.S., hang in my apartment in Baltimore or see my partners and employees in my private equity firm. I have also missed collaborating with my team at Dealmaker Wealth Society.
And I can’t control ANY of that. Because I’m a Brit, President Trump revoked my visa.
But he did me a favor.
I just spent the BEST two months with my family.
I have learned to cook… play the guitar… performance cycle… ride my sit-on garden mower…
Plus, I’ve had more time to focus and connect with other dealmakers. Adam and I go live on Facebook and YouTube for weekly Q&As, and we’ve been rolling out some amazing (and free!) training videos on the Dealmaker Wealth Society YouTube channel.
A MASSIVE part of the reason the past two months have been so amazing is because of my ABILITY to RESPOND and reframe the situation.
My wife Julia said something very interesting to me last night. She used the word HOPE.
She said, “I HOPE we can still go on vacation this summer.”
I laughed. I couldn’t help it.
First, I feel like I’ve been on vacation for the past two months – hanging with my family, doing fun (and sometimes crazy) things, still doing deals and continuing to mentor the amazing DWS tribe.
Second, for me HOPE is a meaningless word.
It’s just not a word I associate with. It’s not in my mental dictionary.
Hope is a dream without foundation – or, more importantly, focus, intention, meaning and action.
I see it all the time in dealmaking… People HOPE to one day buy a business. That’s just pure laziness.
No matter how much HOPE you have, nothing magical in the universe is going to make it happen. A business will not fall from the sky for you to own.
If you want something – like owning a business – you need to DECIDE. Then you need to COMMIT.
You have the ability to respond.
And the responsibility.
If you want to buy and own a business, set a time frame – 30 days from now… 100 days from now… a year from now…
Then decide what TYPE of business you want to buy – size, sector, location. Get ultra-specific. Picture it in your mind.
Then think about your WHY. This is critical.
Because you don’t want to own a business. No! What you want is to enjoy the BENEFITS of business ownership… cash flow, wealth creation, work-life balance, freedom, pride, assurance, even an ego boost… and more.
What PAIN are you in right now? And what PLEASURE do you seek?
These answers, my friend, will give you your WHY. Your purpose.
And this FUELS you to take action every day to achieve what you want.
Once you know your desired outcome (own a profitable small business)…
And you know WHY you want it (what PAIN you are trying to escape and the PLEASURE you want instead)…
Then it’s all about taking constant daily action boosted by this newfound desire to kick arse and take names.
That word is for daydreamers. Delete it from your mental vocabulary.
Be passionate… committed… focused… purposeful…
Don’t ever be hopeful.
Go out there, smash it and make me proud.
Until next time, bye for now.
Editor and co-founder, Dealmaker Wealth Society
P.S. The best way to lay a rock-solid foundation to build on is by following the steps in my Dealmaker Launchpad course. You’ll learn how to design your dream deal specification, where to look for high-quality off-market deals… and what you need to prepare to meet with sellers. Enroll here.