The Incremental Life

build an extraordinary life one step at a time

Leaders Are Never Bullies

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Add This to Your Not To Do List

Are you in a position of leadership or do you aspire to be a leader. There are many attributes of good leadership that you can learn and implement, but there are also some traits you will never allow to be a part of your repertoire. A leader is never a bully.

Guess what? A manager, boss, or supervisor might be a bully, but they’ll never be a leader. A leader takes the high road. An influencer learns how to direct people to make better choices without put downs, anger, threats, or shame.

Leaders Never Bully

Here’s a quick list of actions that make you a bully. Check and see if you’re guilty of using any of these against the people you’re supposed to be leading:

  • Snarky comments
  • Demeaning someone’s value
  • Foul language
  • Badgering
  • Insults
  • Hostility
  • Intent to harm
  • Intimidation
  • Manipulation
  • Harassment
  • Spreading rumors or falsehood (slander and libel)
  • Shaming, whether public or private
  • Cyberbullying
  • Physical harm

So, what do you do if you are guilty of perpetrating any of these actions against someone in a position subordinate to you?

First, you stop doing these things now and commit to never doing them again. Second, you apologize to the people you’ve hurt, and if you bullied them publicly you should apologize publicly.

If you can’t apologize, you’re not ready to be a leader. True leaders are willing to admit when they’re wrong and do everything in their power to make it right.

You may need some counseling or mentoring so that you can break the bullying habits you’ve used and learn how to be a true leader. Admitting you need help is a trait of someone who’s ready to lead.

Jeff M. Miller (@jmarkmiller)
I’m Jeff M. Miller, and I help ordinary people who are stuck in a rut change their behaviors so they can be extraordinary. I’m an entrepreneur who retired from my full-time job in my early 40s to work from home. I’m a financial counselor, life coach, graphic designer, and passionate believer in helping others improve their lives a little more each day.
http://theincrementallife.com

Debt Free Principles Apply to Your Business Too!

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Debt Free Principles

It’s no secret by now that I’m a huge Dave Ramsey fan. I listen to his radio show via podcast several days a week, and I’m always a bit shocked when someone calls in who is familiar with Dave’s Financial Peace principles, but yet they want to know whether or not they should go into debt for business purchases.

Seriously?

What makes us believe that business debt different is from personal debt, especially for entrepreneurs? Taking on debt is simply increasing risk, and the more debt you take on the more at-risk you place your company. If your company fails, who is the bank coming after? You!

If you want to start a business and don’t have the cash you need to get started, then you’re honestly not ready to open your business. Consider that every dollar you borrow is an extra dollar of risk you’re place upon your nascent business. Risk is always high in any new business venture, so why increase that risk exponentially by borrowing money that you might not be able to pay back if you don’t make the profits you’re hoping for?

A high number of startups fail within the first year—somewhere between 75-90%. Many of those business failed because of a combination of lack of profits and high overhead in the form of loans and lines of credit. When they failed, it left the former business owners in bondage to huge debts for years to come.

The sad fact is that some of these businesses could have survived and become profitable if only they hadn’t had monthly debt payments draining them on a regular basis.

So how can you get your business off the ground without shackling yourself with lots of debt? Here are some ideas.

  • Rent until you can pay cash. Part of your business dream is to own your own building, but there’s no reason to jump into a mortgage right away. You shouldn’t even consider purchasing a building until you’ve had several months, or even years of profitability. As your business begins to turn a profit, start setting aside the money you’ll need to pay cash for your brick-and-mortar needs.
  • Start small. Young couples starting out often go deep into debt because they want to live a lifestyle as good as or better than their parents right away, failing to recognize that it took their parents 20-30 years to get where they are. Don’t make the same mistake with your business and start comparing your little startup with the big boys down the street. Be wise, work hard, and give your business time to grow.
  • Buy used. Who says you need to buy brand new equipment and furniture? It doesn’t matter what type of business you’re trying to start—from a bakery or an online startup—it’s almost certain you can find quality used equipment somewhere. Ask around, search on Craigslist, visit garage and estate sales. Above all, swallow your pride and save a ton of cash by avoiding pricey new equipment.
  • Hire out special needs. Similar to renting versus buying a building, there are special needs that will periodically arise that will tempt you to make a major purchase. Consider whether you could simply outsource your special need instead of purchasing the equipment and goods necessary to get the job done in house. If it’s a recurring need, you can possibly save money in the long run by doing it yourself, but if your need is only periodic it’s probably worth it to hire the work out. As always, shop around and read reviews to get the highest quality for the best price.
  • Work longer hours. Most entrepreneurs already know that launching and growing a startup necessitates working many hours beyond the standard 40-hour work week. If your business gets to the point where you think you may need to bring on additional staff, consider whether you might be better off working a bit longer yourself, or asking existing staff if anyone wants to pick up some extra work for additional income.
  • Say no to credit. Learn to pay cash for everything. Just don’t allow yourself or your business to go down the road of accumulating debt.
  • Don’t buy stuff you don’t need. This one should be a no-brainer, but sometimes our emotions and desires get the better of us and we make purchases that are simply devoid of logic. Whether it’s because we saw something “on sale” and told ourselves it’s a great deal, or we convince ourselves that buying some shiny new gadget is going to take our business to the next level, we need to be careful and determine if there’s a real need for our purchases. A simple rule of thumb is to let  needs bubble up from within your business and then determine what you should purchase rather than buying something and figuring out after the fact how to justify that purchase as a need.

One possible exception to the above tips is a mortgage payment. Why? Because at least you are taking out a loan for an appreciable asset. However, you should still try to avoid it if possible, or at the least obtain a mortgage with the shortest term and pay it off as quickly as possible.

If you’re a business owner and have already accumulated debt, don’t despair. Financial Peace principles can still help you get your life and business back on track. Check out How the Debt Snowball Method Works.

Debt-Free-Business-Pin

Jeff M. Miller (@jmarkmiller)
I’m Jeff M. Miller, and I help ordinary people who are stuck in a rut change their behaviors so they can be extraordinary. I’m an entrepreneur who retired from my full-time job in my early 40s to work from home. I’m a financial counselor, life coach, graphic designer, and passionate believer in helping others improve their lives a little more each day.
http://theincrementallife.com

The Tortilla Chip Theory of Success: How to Succeed Without Being Unique

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The-Tortilla-Chip-Theory

Have you ever noticed how many different brands of tortilla chips are available in stores? Seriously, why do we need so many options? Tortilla chips are basically just corn tortillas cut into chip shape and fried in oil until just right. How many copies of the same thing could we possibly need?

Better yet, how can all these separate labels be successful?

Admittedly, some are more successful than others—and possibly more recognizable—while others may disappear before too much longer. I’m sure you’ve already thought of a brand name or two that you enjoy and purchase regularly. Or maybe you thought of that little family-owned restaurant down the street that has the best chips and salsa you’ve ever tasted. Either way, the fact remains that there are scores and scores of different tortilla chip brands available.

So what’s going on?

Now, I could have chosen lots of different kinds of products to make my point, but I chose tortilla chips because they are my biggest temptation on my gluten-free, low-carb diet. The point is that these bags of tortilla chips coexist on stores shelves year after year and people keep buying them despite the glut of options. But, oh, what options!

We humans have different tastes. You know that no two bags of tortilla chips are truly identical. They vary in an almost infinite variety. Consider the following list of differences I came up with off the top of my head:

  • Taste: type of corn, amount of salt, additional seasonings or flavorings (Doritos!)
  • Texture: thick or thin, crunch, amount of oil, granular feel, restaurant style
  • Shape: traditional triangle, round, strips, scoops
  • Package size: regular, economy, family size, mega-super-jumbo
  • Price Range: clearance, value, generic store brand, brand name, premium
  • Values & Needs: certified organic, free trade, local, anti-corporate
  • Perception: brand recognition, brand loyalty, regional reputation, nostalgia

I’m sure you could come up with more. The reality is that all of these successful brands have discovered how to do what Seth Godin calls delighting your niche. If you can focus and create a consistently high-quality product, the next step is to discover your niche. Who is your target customer or audience and how can you delight them? That’s what you need to figure out in order to become successful in today’s market.

The truth is, your idea or product is probably not new, though you may have a unique or rare approach. So rather than trying to out do your competition and steal customers, you should focus on finding people who speak the same language you do and offer them a world-class product.

If you can do that, then you’ll find your brand of tortilla chips sitting on the shelves too.

Jeff M. Miller (@jmarkmiller)
I’m Jeff M. Miller, and I help ordinary people who are stuck in a rut change their behaviors so they can be extraordinary. I’m an entrepreneur who retired from my full-time job in my early 40s to work from home. I’m a financial counselor, life coach, graphic designer, and passionate believer in helping others improve their lives a little more each day.
http://theincrementallife.com