the value of you

Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like. —Will Rogers

https://www.forbes.com/sites/robertberger/2014/04/30/top-100-money-quotes-of-all-time/#7be817564998

Talking with another entrepreneurial co-worker my age, most working people are in one of two situations. Either there is not sufficient income to meet needs like housing, transportation, medical coverage, and school-age children’s support, or the opposite extreme, too little income to pay for the ego-boosting debts of expensive homes, cars, boats, entertainment and $1000 IPhones.

But there is a third option. Establishing a plan (earlier in adult life, the better) that develops skills and experience with a disciplined savings and investment strategy. Some reputable standout entrepreneurs I know began that way; building a great reputation among friends, employers, customers and peers, they had entrepreneurial ambitions, and were willing to risk failure.

Try not to become a man of success, but rather try to become a man of value. Albert Einstein

https://www.brainyquote.com/quotes/albert_einstein_131187

In our industrial society, age instead of financial stability, is a commonly-held benchmark for “retirement”. Instead, I support the notion that a disciplined approach to provide that stability at a self-determined age is the foundation. And an entrepreneurial venture providing a valued service, personal challenge and some material reward, is a valued “retirement”.

Wealth consists not in having great possessions, but in having few wants. —Epictetus

https://www.forbes.com/sites/robertberger/2014/04/30/top-100-money-quotes-of-all-time/#7be817564998

first lessons:

a business mindset

I tried and failed at business ventures three times before. With a couple years of technical training, I tried earning a second income as a small appliance and home electronics repairman. It was cheaper to buy new than repair “old”. The next venture was selling solar-heated hot water systems. People could just as easily put garden hoses on their roof (it was southern Arizona) and save the expense of a metal system up there. And then, last year, I saw how my father-in-law’s young relative was making six figures in a health-focused business. She has Amazon- and Facebook- founders-level intensity which produces her ongoing results (building over the past 8 years). I was not interested, youth-focused, or charismatic enough to do what it takes. My prior ventures were great personally, just not rewarding financially for me.

Photo by Pixabay on Pexels.com

the importance of a “niche”

This year, my wife and I found a “niche” business. A “niche” is a product or service need, that is not widely available, nor really has much awareness outside of the profession. But is necessary nonetheless. With a lot of support, name recognition, and professional experience, my wife one evening reported to me that a business opportunity was offered to her – that she wanted to do. This was due to pending retirement of the principal operators in the niche market. The business requires unimpeachable ethics, scrupulous attention to detail, military-like precision with clients and retaining or bringing on skilled employees (or contractors).

do not quit your “day job”

A mistake of many new entrepreneurs, is to launch a business enterprise with little financial resources. They then have few options when mistakes are made or customers are slow to provide payment. Then there is even more emotional and physical stress learning the “do’s” and the “don’t”s of operating a business. In just the few weeks after initially deciding to engage in this business, the guts required to seriously and diligently apply ourselves to learning,- particularly with family and job requirements always keeping you busy, is challenging.

In the United States, working for yourself, with the intent to make a profit – to separate your enterprise from what the taxman (the IRS) would label a “hobby” – requires record-keeping, talent, and effort. Depending on the venture, every business has local, state and federal tax statutes regarding individual, partnership, and incorporation to stay within the law. Similarly, there are permits, licenses, and fees with all the aforementioned, to conduct business.

With certain businesses, providing products or services, there are many regulations, certifications, and insurance to purchase and renew yearly. While trying to classify whether there were workers considered by statute as employees to consider, we need general business and professional liability insurance. And probably, workmen’s compensation insurance: California is very strict on business operations. If you are still determined, you have done homework on your competition in the niche market, and calculated the profit versus expense projections before the first customer dollar is received – there is one consideration you may miss. You may find that your business needs to be funded almost entirely from your own “primary” income for a time. One of the first “rules” I have learned is to avoid going into debt while learning the “ropes”. Do not quit your day job before it sustains you.

seeking advice from experienced mentors

Photo by Pixabay on Pexels.com

I have only just started to explore the business banking relationships we will need for our venture. We will explore and weigh options on credit, payment processing, and loans. Similarly, I have only attended one seminar run by the small business education group, SCORE, (there are chapters in most communities) taught by people with decades of experience in all aspects of business. But for the entrepreneur, anywhere you find someone to help with the pitfalls to avoid, is great. One can then make all new mistakes to learn and develop as a business person.

your “why” has to be bigger than your fear

Photo by rawpixel.com on Pexels.com

After a career in the military, another in private industry, and still looking for challenge (and change), our own business will prove to be well worth it. After many years of doing without asking why and making someone else’s careers and dreams possible, you also can make your dreams, as well as those of your clients, become reality. But it takes ethics, drive, humility, implementing what others can teach and eagerness to keep pressing on to the goal.

Don’t participate in bullshit – be pure in your heart — joypassiondesire

Whenever you hear someone complain – don’t join them in their negative rampage. Complaining doesn’t make anything better – you are better off being quiet than joining them in their complaining. Even if it is socially accepted and expected of you to join in when someone complains, it is never of value. You always have […]

Don’t participate in bullshit – be pure in your heart — joypassiondesire

Leaders lead not persecute

A story I heard today set my jaw, got my dander up, and got me to thinking what sort of incapable hands, and I am speaking of the enlisted Navy khaki community – have my Brothers and Sisters in the CPO Mess (Retired) left behind?   In recent years, story after story of accidents,  improper behavior (fraternization) and issues with ships, aircraft and installations continue to be reported.   The Navy’s top enlisted Sailor, the MCPON, Master Chief Petty Officer of the Navy, resigned due to allegations of improper leadership this year.   And I heard today that a Sailor, who happens to be a career top performer and a person who shares my faith (and a member of my congregation), is being allegedly PERSECUTED by the unit CPO Mess for  (allegedly) sharing values with another sailor.    Honor? Courage? Commitment?

20180410_183907437629359.jpg
honoring the WWII sacrifice of 4 chaplains

I have to wonder what has happened to the Navy I served for twenty-six years.  For as long as people have put to sea, spiritual beliefs have gone to sea with them.  For the last two centuries, members of a faith community have been guaranteed the freedom of expression, worship, and other rights, as well as equal protection under the law.  I certainly understand that everyone is entitled – and in the military particularly – to believe whatever they want to believe – as long as the mission and the team performance are not negatively affected.  A conscientious objector in charge of a weapons system is not expected.  A polygamist or adulterer is not expected to respond to policies that define conduct  which brings discredit the unit.   A person with addiction, particularly to alcohol or prescription drugs, is not the model of reliability in a moment of necessary quick response or judgement.

A search online on the topic of faith and military duty will reveal articles that support that servicemen and women of faith make better and more capable members.  And there has been at least one who was convicted at courts martial for refusing to obey orders to remove a display of religious quotes in her workplace.  That conviction was based in part on disobedience to a lawful order, and failure to demonstrate that she had taken all the proper steps via the chain of command to remedy her particular issues.

In the case of the Sailor I heard about today, I know that conduct was not the issue.  Disobedience and disrespect of a shipmate was not the issue.  If good people of faith,  technically capable and ethically sound, are forced out of serving in uniform,  then the nation as a whole suffers.  I do not expect all members of the military to share my Christian faith, nor even to have a belief in a supernatural Deity.   But I have known men and women in positions of responsibility whose conduct and attitude demeaned their peers and subordinates.  Some of those subordinates chose to leave the service at the end of their contracts.

fb_img_15287322881111Honor. Courage. Commitment.    Leadership in the armed forces of the United States is a privilege.  And respecting the spiritual beliefs of capable, ethical, and valuable members of the team is but one trait that an exceptional member of the Chief Petty Officer Mess can impart.

What has “comfort zone” to do with “success”?

In the United States Navy,  and by extension, the other military services,  an individual has fairly equal opportunity to rise up the advancement ladder, and to qualify for challenging assignments.    Leadership, as practiced by some I have had the great fortune to be mentored by, has been recognized by their being awarded positions among the highest authority and responsibility in that service.   By mentorship I mean, demonstrating integrity,  fortitude (in spite of personal hardships), a commitment to excellence and encouraging others to reach beyond “comfort” in doing.

“Every Sailor has the potential to lead. I don’t care if it’s a seaman recruit or someone higher ranking than myself. Where there’s a will, there’s a way. ” (All Hands Call, Norfolk, VA 01 May 2007)

 

“The discipline which makes the soldiers of a free country reliable in battle is not to be gained by harsh or tyrannical treatment. On the contrary, such treatment is far more likely to destroy than to make an army. It is possible to impart instruction and give commands in such a manner and such a tone of voice as to inspire in the soldier no feeling but an intense desire to obey, while the opposite manner and tone of voice cannot fail to excite strong resentment and a desire to disobey. The one mode or the other in dealing with subordinates springs from a corresponding spirit in the breast of the commander. He who feels the respect which is due to others cannot fail to inspire in them respect for himself; while he who feels, and hence manifests, disrespect toward others, especially his subordinates, cannot fail to inspire hatred against himself.”
LTG John M. Schofield, 1879

Ask people whether they have a dream visceral enough they want accomplished.  Material possessions,  security, education, or a deeply-committed and loving marital relationship.   Then ask those same people if they were willing to do whatever it took, in terms of work,  being sleep-deprived, learning difficult lessons, memorizing, practicing, enduring criticism and overcoming obstacles to achieve their dreams.   Fewer might push on.  Of that reduced number,  how many would endure whatever life handed them in the pursuit of that dream, as days became weeks, and weeks became months, and months became years?   Fewer perhaps.  In an article in Forbes,  a contributor has published eight traits to predict future success.  These include delaying gratification, being seriously motivated and organized, believing that they make the choices which affect their outcomes, and having fortitude during adversity.   Predictably, past success leads to future success.

To achieve “success”,  whatever that may be in terms of the dreams one has,  requires steadfast devotion.   Integrity.  Mental and physical toughness.   And determination that there is no “giving up or giving in”.   It may be an enlisted member’s goal to become an Officer or senior Non-Commissioned Officer (NCO).  For others, it might be to earn membership into the ranks of the SEALs.   The few Navy warriors who complete the BUDS training to become SEALs achieve their first qualifier.  Training continues from there.  Other services have their special forces as well.

But it can also be the single mother who is raising three young children,  in school for a professional certification, who then cares for her children,  studies all night, and maintains the family chores all at the same time.  And excels.    Or it can be the aging sailor with a dream to become a Chief Petty Officer who  commits to every training session,  early morning fitness challenge, seeks, finds and puts into practice the guidance from others with decades of leadership expertise.

“Success” can be the married young engineer, father of two, one a newborn, who spends time with his children and wife at those critical “family-building” times.  Yet he is working early or into late hours, and finding innovative and productive solutions to technical challenges simultaneously.

28 Jesus said to them, “Truly I tell you, at the renewal of all things, when the Son of Man sits on his glorious throne, you who have followed me will also sit on twelve thrones, judging the twelve tribes of Israel. 29 And everyone who has left houses or brothers or sisters or father or mother or wife[a] or children or fields for my sake will receive a hundred times as much and will inherit eternal life. – Matthew 19: 28 -29 (NIV)

And then there are the spiritually-rewarding opportunities that define “success”.  The young graduate of a university with a business degree, sought by several businesses, who voluntarily goes to aid the victims of a natural disaster (Hurricane Katrina, and the Haitian earthquake), as an unpaid volunteer for a charitable organization,  finds a mission and a calling that becomes a career.

“A business is simply an idea to make other people’s lives better.”  –Richard Branson

Many of the most-recognized entrepreneurs today did not find instant reward and acceptance when they began.  Whether it was Ray Kroc and McDonalds,  or  Steve Jobs and Steve Wozniak of Apple,  or my company’s CEO, Mark Dankberg and his team,  it took determination, confidence,  a pursuit of excellence, and vision for the people they attracted, and the customers they served.  But each built multi-billion dollar, world-changing enterprise.

Do you have the integrity, the guts, and the desire to improve others with a dream you want to achieve.  Are you willing to get out of your “comfort zone” to achieve them?