Do You Know the Rules of the Game?

I understand that these are tough times in our economy currently. This is characterized by high inflation, high interest rates, ridiculous costs of repairs and, in fact, almost all of your inputs.

People are stressed. Someone recently asked me if I worry. Overall, I am optimistic, but today I am cautiously optimistic. Even my confidence has been shaken by stupid moves by the federal government & the Fed.

However, I’m doing my best to “bring the joy.” I would add that author Tim Ferriss offered a Chinese proverb that says, “If you must play, decide on three things at the start; the rules of the game, the stakes, and the quitting time.”

Sounds like good advice, but let’s look at an application for using these guidelines in your business.

First, the rules of the game: Make certain you understand your finances, as well as what the parameters are for your banking relationships. In challenging times, this becomes paramount to your success.

Next, know what the stakes are in the game. In Taekwondo, when you perform a board break, it is crucial that you set your target to go through the board. I can attest that falling short of that can be painful.

Finally, know when the game ends. I have had very few Clients leave their businesses over the past 25 years, except for those who wanted to retire. So, the thought you need to entertain is whether you want to continue, as most of my Clients are, or build a plan to exit at the most optimal time.

Studying these three steps can pay huge dividends, especially in tough economic times, so be sure to know the rules of the game and watch for opportunities to, as former Chicago Bears running back Gayle Sayers said, “Head for daylight!” Stay focused and you’ll be fine, for these times, too, shall pass.

Be on the watch for our upcoming Next Level Thinking™ workshops.  Let’s take your business to the Next Level!