What I have learned this week

  So far in this course, I have learned that I need to assess myself and my ability to be an entrepreneur.  I need to see if my skills and my personality will make me a successful entrepreneur.  

I am actually a retired multi-millionaire that has created, run, purchased and sold countless small businesses.  So it will be interesting to see the personality traits that I actually have.  I have always said that it takes a certain person with a certain personality to succeed in owning a business.  I am looking forward to put that personality on paper.  This will allow me to advise businesses in a more professional way. 

This week I picked up a new client in Texas that does landscaping.  I had the opportunity to meet with him and his girlfriend.  Their greatest concern was being able to progress beyond just working in the business.  They wanted to know how to: 1) hire good employees and train them.  2) Organize the company financially.  There was some concern about how they were recording their expenses and assets.

I am a little worried that the motivation to change is more in the girlfriend that is not involved in the business then in the boyfriend that is operating the business.  However, I gave them homework to see how serious they were about making changes in the company.  I also advised them to do it together so they can discuss and help each other progress.  

The two items of homework that I gave them was to read The Emyth Revisited and to create an LLC for their company.  Once they have accomplished these two items it will show me they have desire to progress.  I will then sit down with them and go through their finances and review what they have learned.

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