Blog | Entrepreneurship

Business Growth Begins with You

Regardless of whether or not you’re planning a move from the left to the right-side of the CASHFLOW® Quadrant, constant growth is required to be a success

meet your own rich dad - start your quiz now

If you’ve been following along in my previous two posts, you’ll know that the learning of Robert and Kim’s advisors never stops.

I’ve done my best to give you the inside scoop on the lessons I’ve learned from our study sessions with Robert.

In my first post , I explained the differences between a big business (a “B” business) and a smaller, sole-proprietorship (an “S” business). One of the biggest differences being how much you're taxed.

The second post covered the 8 integrities of the B/I Triangle, where I also covered the importance of distinguishing an asset from a liability.

Today, I’m going to elaborate on the importance of teaching entrepreneurship in school.

Two Sides of Every Coin

Robert often uses a coin to help explain that there are always two sides to every story. In this case, it's actually about opposing sides of the CASHFLOW Quadrant.

When you’re open to different points of view, you realize you have a choice.

The problem starts when we’re in school. We aren’t taught the bigger picture. Our teachers, though only trying to the right thing, teach us about living on the left side of the quadrant. If we’re “smart”, and we’re lucky, we might be able to earn our income as an “S” someday, maybe as a doctor or a lawyer.

(Gee, thanks.)

But by studying the CASHFLOW Quadrant, you’ll realize you have a choice.

Recipe for Success

I’m sure when you were younger you, or possibly some other kids in your neighborhood, had a lemonade stand. You bought the lemons and sugar, mixed them with water in a big jar, crafted an eye catching poster with your competitive prices and waved down every passerby that you could see.

Where most of us see an opportunity to maybe make a little bit of money, serial entrepreneur, Michael Holdhouse, seized a opportunity.

After selling his network services business to Sprint, he looked for ways to give back by targeting at-risk kids.

One day, while negotiating with his daughter over a turtle she wanted, he had an ‘a-ha’ moment. Why not take the lessons he’s learned as an entrepreneur and teach his daughter about free enterprise.

After helping his daughter and her friend with their first successful lemonade stand, he started Lemonade Day — a free, fun, experiential learning program that teaches children to to start, own and operate a business.

The first Lemonade Day was back in 2007. It has since grown to over 30 states across North America impacting over one million children in the process.

The Secret Ingredient Required for Success

As we just showcased with Michael, it doesn’t take a large investment or world-changing idea to make difference.

All that’s required is putting forth the time and effort.

Again, using Lemonade Day as an example, let’s look at the CASHFLOW Quadrant. For every lemonade stand, the owner/operator resides in both the “E” and “S” quadrants. In some cases, they also provide the funding placing them in the “I” quadrant as well.

Each role is required for the lemonade stand to become a success.

As it is with every business. But the one thing that continues to make a difference in the lives of those young entrepreneurs is the coaching and mentorship from Michael and his team at Lemonade Day.

Michael provides the same thing to his young business owners that Robert provides to his advisors and his rich dad did for him: professional advice.

It doesn’t matter how successful someone becomes, having a leadership team you can trust is vital to constant growth.

Look at your immediate network. Who can you tap for help when you need it? If no one comes to mind, consider reaching out to your local chamber of commerce. Most chambers offer classes on improving your business and monthly (if not weekly) meetings for members to get to know each other.

Regardless of where you’re at in your entrepreneurial journey, don’t give up. Focus on your next step, whatever it may be.

If you’re looking to know how my wife, Lisa, and I grew our addiction treatment centers, check us out at WarriorsHeart.com. If you’re interested in learning more about social entrepreneurship, grab a copy of our book The Social Capitalist.

Original publish date: December 24, 2018

Recent Posts

Mastering Money
Paper Assets, Personal Finance

Mastering Money: The Key to Achieving Financial Freedom

Begin the path to making money work for you today, not the other way around.

Read the full post
Sustaining the Entrepreneurial Spirit (Even Through the Challenges Along the Way)
Entrepreneurship

Sustaining the Entrepreneurial Spirit (Even Through the Challenges Along the Way)

In the near future, being an employee will be the least secure position in society. You must catch and keep the entrepreneurial spirit alive.

Read the full post