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Recently I was invited to speak at the Next Generation of Business Leaders regarding how my business partner and I started Foundation Companies, and grew it to where it is today. You can read a little more about my journey and my business in the About section of this blog. Part of my speech included the 7 Fundamental of Foundation Companies. These fundamentals have been an integral part of why we have been able to grow our business in one of the worst real estate markets in history. I feel that these fundamentals can be applied by all, and thought I would share them with you in hopes that they could help in your business and or life.
The 7 Fundamentals of Foundation Companies
1. Know the WHY behind the WHAT you do
We all know what we do on a daily basis, but do you know why you are doing it? It is important to understand your WHY for many reasons. For example, if adversity hits in your business (and it will at some point) having a strong WHY can keep you focused and moving forward. For me, what I do is invest in real estate and run several businesses. However WHY I do it is what really motivates me to get up and work hard every day. I have several WHY’s and they change with time. Only you know what burns deep inside you that makes you tick. Once you find your WHY stayed focused on it , and it will make your job, business and life much more fulfilling.
2. Self Education
As the great Jim Rohn says, “A formal education will make you a living, but self-education will make you a fortune.”
I believe that self education is the key to great success. Read more about this in my previous blog A Living or a Fortune.
3. Burn the Ships
In order to accomplish great things in your life it is often necessary to eliminate your escape routes and safety nets. I actually call these HINDER NETS because when you leave yourself a way out, it is hard not to take them when times get tough. Read more about this in my previous blog Burn the Ships!
4. Do Less
“The less I do the more I make.” Ron Legrand.
Until you realize that you must focus on things in your business that only you can do, your growth will be greatly limited. Doing less is not working less, its working smarter and focusing your efforts on high level task. Hire others to handle lower level items or highly specialized tasks and you will free your time to focus on what really makes you money! Read more on this in my previous Do Less. Make More.
My next blog will be part two of the 7 Fundamentals of Foundation Companies. In the mean time take inventory of yourself to see if any of these fundamentals could be applied to your business and life to bring you more success. They definitely worked for me!
If you have any questions or comments, I would love to hear from you. Please reply at the bottom of this page.