Why 95% of Business Fail within 10 Years

Summary

In this video, the presenter explores the reasons why 95% of businesses fail to reach their 10-year mark and offers insights on how to join the successful 5%. They emphasize the importance of self-improvement, choosing the right business model, managing customer concentration, ensuring steady cash flow, understanding funding options, constant innovation, mastering direct response marketing, focusing on growth over operations, leveraging personal branding to attract opportunities, maintaining frugality in costs, and investing in growth. The speaker also humorously encourages subscribing to their channel as part of continuous learning.

Takeaways

• 💼 Most businesses don't survive past their 10-year anniversary, with only 5% making it, so improving entrepreneurial skills is crucial.
• 📊 Many business models are inherently more profitable; choosing the right model and constantly tweaking it can significantly increase success.
• 🔍 Avoid customer concentration by ensuring no single customer accounts for more than 10% of your revenue to reduce risk.
• 💰 Managing cash flow is critical; businesses should create ecosystems with regular cash flow and avoid relying solely on large contracts.
• 📚 Knowledge of funding sources, like private equity, venture capital, and alternative lending, is essential for overcoming financial challenges.
• 🚀 Continuous innovation is key to staying competitive; resting on past successes can lead to being overtaken by competitors.
• 🎯 Direct response marketing, focusing on generating immediate action from customers, is vital for driving business growth.
• 🛠 Entrepreneurs should focus on growing their business rather than getting bogged down in day-to-day operations.
• 🌟 Creating an environment where opportunities are pulled towards the business through strong branding and networking is more effective than constantly pushing for them.
• 💸 Being frugal with day-to-day costs allows for generous investment in growth opportunities, contributing to long-term success.

Q & A

What is the harsh reality that the speaker mentions about the survival of businesses?

The harsh reality mentioned is that most businesses do not survive past their 10-year anniversary, with only 5% making it, indicating that 95% of businesses fail within this timeframe.

According to the speaker, what is the first step towards becoming part of the successful 5% of businesses?

The first step is to become the best version of yourself, as the better you are, the better your business can be.

Why is it important to revel in difficulties according to the speaker?

Reveling in difficulties is important because it is through overcoming challenges and learning from failures that one can grow and improve, which is essential for business success.

What is the issue with holding on to a business model that is not performing well?

Holding on to a poor-performing business model can be detrimental because it may not be set up for profitability, and continuing with it could lead to business failure.

What is the speaker's advice on dealing with a business model that is not generating serious profits?

The speaker suggests tweaking the business model to improve profitability, such as finding multiple revenue streams and sweating the asset.

What does the speaker mean by 'customer concentration' and why is it a problem?

Customer concentration refers to having a significant portion of a business's revenue coming from a single customer. It's a problem because it creates a dependency that can lead to business failure if that customer stops doing business with the company.

What is the speaker's rule regarding the percentage of revenue that should come from any one customer?

The speaker's rule is that no more than 10% of a business's revenue should come from any one customer to mitigate the risk of customer concentration.

Why is cash flow considered the biggest killer of businesses according to the speaker?

Cash flow is considered the biggest killer of businesses because even profitable companies can fail if they do not have enough cash on hand to meet their immediate financial obligations.

What is the importance of having regular cash flow in a business as mentioned by the speaker?

Regular cash flow is important because it provides financial stability and allows the business to operate smoothly without relying on large, infrequent payments.

What does the speaker suggest as a solution to improve cash flow in a business?

The speaker suggests employing an accountant to manage the numbers, which can also make the business more attractive to lenders, thus helping to improve cash flow.

Why is having knowledge of funding important for business owners according to the speaker?

Having knowledge of funding is important because it allows business owners to access the necessary capital to weather financial storms, seize opportunities, and grow their businesses.

What is the speaker's view on innovation in business?

The speaker believes that innovation is crucial in business and should not be neglected, even when the business is doing well. Constant innovation helps to stay ahead of the competition and prevent stagnation.

What is the significance of direct response marketing in business success as per the speaker?

Direct response marketing is significant for business success because it focuses on getting immediate responses from potential customers, which can effectively generate leads, sales, and revenue.

Why should business owners focus on marketing rather than just operating their business?

Business owners should focus on marketing to bring in customers and create cash flow, which is essential for business growth. Spending too much time on operations can distract from the critical task of revenue generation.

What does the speaker mean by 'pulling for opportunities' instead of 'pushing for opportunities'?

Pulling for opportunities refers to creating a personal brand and reputation that attracts opportunities naturally, rather than actively seeking them out. This approach is more effective and efficient in the long run.

What is the importance of frugality in business costs and generosity in investments according to the speaker?

Frugality in business costs helps to maintain a lean operation and generate savings, which can then be invested generously in areas that will grow the business, such as infrastructure, acquisitions, or other investments.

Why does the speaker emphasize the importance of self-improvement for business success?

The speaker emphasizes self-improvement because successful people are constantly learning and growing. Reading, attending seminars, and seeking knowledge are ways to sharpen one's skills and mindset, which are crucial for business success.

Outlines

00:00

😀 Harsh Realities of Business Survival

The video script begins by addressing the stark reality that only 5% of businesses make it past their 10-year mark. The speaker emphasizes the importance of self-improvement for entrepreneurs, suggesting that most fail due to a lack of personal and business excellence. They discuss the need to embrace challenges and let go of unsuccessful ventures, sharing their own diverse business experiences. The speaker also stresses the importance of having a clear vision and plan for success, and the necessity of choosing the right business model to increase the chances of becoming part of the successful 5%.

05:02

📈 Business Model Mastery and Customer Concentration

This paragraph delves into the importance of understanding and selecting profitable business models, using online resources for research, and leveraging the speaker's experience to illustrate the point. The speaker warns against the pitfall of customer concentration, where reliance on a single large client can lead to business failure, advocating for diversification to limit any one customer's contribution to no more than 10% of total revenue.

10:02

💰 Cash Flow Management and Funding Knowledge

The speaker identifies cash flow as the primary cause of business failure, advising on strategies to ensure consistent cash flow and avoid over-reliance on large contracts or a single customer. They recommend proactive banking relationships and the early seeking of funding to avoid cash flow crises. Additionally, the paragraph highlights the importance of having knowledge about various funding options and the role of an in-house accountant in securing loans and improving financial management.

15:04

🚀 Innovation and Marketing for Business Growth

Innovation is presented as a crucial element for sustained business success, with the speaker urging constant improvement even when the business is doing well. They use Steve Jobs and Apple as an example of innovation's impact. The paragraph also introduces the concept of direct response marketing, emphasizing the need for business owners to be effective marketers, capable of attracting and retaining customers with compelling marketing strategies.

🌟 Prioritizing Marketing and Opportunity Pull

The speaker advises business owners to focus on marketing rather than just operations, arguing that successful entrepreneurs are those who can generate revenue and attract customers. They stress the importance of being a 'revenue generator' and delegating operational tasks to others. Additionally, the paragraph discusses the concept of 'pulling' opportunities towards oneself through building a strong personal brand and reputation, rather than 'pushing' for opportunities.

💼 Frugality in Costs and Generosity in Investment

The final paragraph emphasizes the importance of frugality in day-to-day business operations to maintain a lean and efficient operation, while being generous with investments in growth and development. The speaker encourages the cultivation of an investment mindset, where savings from cost reduction are reinvested to fuel business expansion and improvement. They also humorously suggest that subscribing to the speaker's YouTube channel is a habit of successful people, before concluding with the advice to continuously work on self-improvement.

Keywords

💡Entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. In the video's context, the entrepreneur is encouraged to strive for excellence and to not settle for mediocrity, aiming to be part of the top 5% of businesses that survive past their 10-year mark.

💡Business Model

A business model describes the rationale of how an organization creates, delivers, and captures value. The script emphasizes the importance of having a profitable business model and suggests that some models are inherently more successful than others, such as commercial property rental compared to running a restaurant.

💡Customer Concentration

Customer concentration refers to the risk associated with relying heavily on a single or few customers for a significant portion of business revenue. The video warns against this practice, advocating for diversification to prevent the collapse of a business should a major customer withdraw.

💡Cash Flow

Cash flow is the amount of money moving in and out of a business. It is highlighted in the video as a critical factor for business survival, with the presenter advising on strategies to maintain positive cash flow and avoid the pitfalls of waiting for large payments.

💡Funding

Funding in a business context refers to the capital raised by a company to start or grow its operations. The script points out the importance of understanding various funding options and the presenter's personal experience in raising capital quickly to seize opportunities or overcome challenges.

💡Innovation

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay. The video stresses the need for continuous innovation, even when the business is doing well, to stay ahead of the competition and not become complacent.

💡Direct Response Marketing

Direct response marketing is a type of advertising designed to elicit an immediate response from consumers. The script discusses the importance of mastering this skill to effectively attract customers and generate cash flow, emphasizing the need for clear calls to action and compelling offers.

💡Operational Efficiency

Operational efficiency refers to optimizing business processes to reduce waste and increase productivity. The video suggests that successful entrepreneurs should focus on growing the business rather than getting bogged down in day-to-day operations, advocating for delegation and prioritizing strategic activities.

💡Personal Brand

A personal brand is the image or identity that an individual projects, which can influence how they are perceived by others. The script highlights building a strong personal brand to attract opportunities, rather than having to actively seek them out, by becoming a thought leader and a person of influence.

💡Frugality

Frugality in a business context means being careful with money and avoiding unnecessary expenses. The video encourages frugality in day-to-day operations to generate savings that can be reinvested into the business for growth, striking a balance between cost-saving and investment.

💡Investment

Investment in the video refers to the allocation of money in the expectation of financial returns. It is presented as a key behavior of successful individuals who invest in themselves, their businesses, or other assets to grow wealth and seize opportunities.

💡Continuous Learning

Continuous learning is the ongoing process of acquiring new knowledge and skills. The script ends with the notion that successful people are always learning and improving, recommending reading, attending seminars, and engaging with educational content to stay ahead.

Highlights

Only 5% of businesses make it past their 10-year anniversary, with 95% failing.

The harsh reality is that most entrepreneurs may not be good enough and need to improve.

Entrepreneurs should revel in difficulties and learn from failures to succeed.

Identifying what you want in life and having a clear plan for your business is crucial for success.

Some business models are naturally more profitable; research and choose wisely.

Tweaking the business model can turn a good business into a great one.

Avoid customer concentration by not relying on a single customer for more than 10% of revenue.

Cash flow is the biggest killer of businesses; ensure regular cash flow to avoid disaster.

Employing an accountant can help manage cash flow and improve borrowing potential.

Knowledge of various funding options is essential for business survival and growth.

Innovation is key; even successful businesses must continue to innovate to stay ahead.

Direct response marketing is vital for attracting customers and generating cash flow.

Focus on marketing and growing the business rather than just operating it.

Create an environment that pulls opportunities towards you instead of pushing for them.

Be frugal on costs to generate savings that can be invested back into the business.

Successful people continually work on self-improvement and personal growth.

Subscribe to the James Sinclair YouTube channel for more insights on growing a business.

Transcripts

most businesses will not make it past

their 10-year anniversary in fact only

5% will so the fact is 95% of businesses

won't make it in this video I want to go

over the 10 reasons why I think that

happens and how you can become the top

5% let's do

it the harsh reality is probably you're

not good enough look the facts are if

only 5% make it their 10year anniversary

most foul you're probably not good

enough as an entrepreneur now that can

change but actually most people don't

seek how to to become they want

convenience well actually you got to

Revel in the difficulties you got to

Revel in the difficulties and all I've

learned through some of the failures in

my career you know I've done a lot of

things I own hotels day Nursery zoos

visitor attractions coffee shops I

manufacture ice cream I've manufactured

products I've imported millions of

pounds of products from around the world

I've employed tens of thousands of

people so I've had a lot of experience

and some things have gone like Gang

Busters and some things haven't gone

well here's a lot of things uh that

people do is they hold on to stuff for

too long in the hope that it's going to

improve but maybe the model isn't good

enough maybe the business isn't good

enough maybe the business is not a

successful business you've just got

something that you're interested in but

the marketplace the marketplace isn't

and so over the next nine points I want

to understand what they are so the first

one is maybe you're not good enough what

have you got to become what do you got

to do to have the things that you want

to have in life maybe you want to have

more money maybe you want to have more

time more freedom but if you don't

actually identify what you want to have

what your business looks like when it's

finished with a clear plan of attack

then I don't think you're going to be

successful you got to work on that stuff

first so first of all you got to become

the best version of you because the

better you are the better the business

is number two really brings me on to

that point in more detail which is

you're building a useless model I've

discovered all of my business escapades

that some business models are just set

up for profitability way more than

others you know you open a restaurant

that's a difficult business model really

hard to make money from but you go and

do some commercial property and rent

that out it's a far more predictable

business model that is got way more data

that shows that it's going to be more

successful and so you want to find good

models and the data out there use this

thing called Google it's got plenty of

research and you can find out what are

the most profitable business models in

fact I've made some videos here on this

YouTube channel I put some links in the

video description or maybe above my head

where you can go and find out what are

the best business models it really does

start with the business model after

you've worked on yourself so you become

a brilliant business owner maybe you

learn accountancy maybe you learn how to

really understand numbers and then you

choose the right opportunities and the

right opportunities are the best

possible business model now if You' got

a business model right now that's doing

okay okay but it's not going like Gang

Busters not generating serious profits

maybe you can tweak the business model

and that's something that I've learned

in my career hey let me give you an

example I opened a Leisure business so a

zoo an indoor play center a family

entertainment center a bowling alley and

you're looking at it and going this is

generating some cash it's making a

profit it's making an ebit Dar which is

earnings before interest tax

depreciation amortization it's servicing

the loans it's quite a good business but

we don't want a good business what's the

difference between good and great well

it's actually tweaking the business

model so how can you get multiple

revenue streams and sweat the asset so

that business becomes really profitable

so what I did was I go right I've got a

Leisure business I'm going to build a

child care business on my leisure

business thus giving me loads more

predictable revenue streams because

Child Care is very predictable but I'm

already paying the rent I'm already

paying the rates and I've got a big load

of customers that are coming to me that

I can Market to to come to my child care

business and sweating the assets is what

good entrepreneurs and business owners

do you start doing that stuff improving

the models tweaking the models looking

for a better answer to get better

results you're going to get in the top

5% gang number three big one here gang

customer concentration now I've done

lots of podcasts nearly 400 episodes of

my podcast where I've interviewed and

helped business owners try and grow

their business if you're interested in

the podcast there's a second YouTube

channel but Link in the video

description for that as well customer

concentration is one of the biggest

things that causes businesses to go bust

now what is customer concentration well

it's one big customer that drives in an

horrific amount of Revenue into the

business and I have a rule that no more

than 10% of your Revenue should come

from any one customer I can't tell you

especially in construction in FM

companies that's facility management

companies but in supplying companies

you've got this one big customer that

gives you most of your profit most of

your revenue and you all build your

business around them and then they go

actually we're going Bust or we don't

want to buy from you anymore and no

matter how much you think your

relationship is good with them nothing

is forever and so if you've got one big

customer your job is to dilute them as

fast as possible so they don't become

more than 10% of your Revenue really

really important I see more businesses

go bus from that one than anything else

number four cash flow cash flow cash

flow is the biggest killer of businesses

I've got that podcast and I've helped

Ono one I've done consultancy I mean my

business businesses managing cash flow

is the biggest stress there's some

things that you can do make sure you

haven't got customer concentration make

sure that you don't have all your

customers on credit make sure you create

an ecosystem where you're getting a

little bit of money even every single

day so you've got regular cash flow if

you're waiting for big contracts to be

paid then that can be disastrous I know

lots of businesses that can make two

three four five million pounds worth of

profit profit but they're not getting

paid they haven't got their bills being

paid they're getting extended payment

terms all the time and that's it the

business goes bust and so you've got to

find ways of improving cash flow if

you're borrowing money and you think

you're going to need funding in six

months time go to the bank six months

ahead of time get all your ducks in a

row then you've got a far better chance

of getting the money what banks hate

doing is lending to businesses when

they're having cash flow pinches they

love lending to businesses that say in

six months we're going to have a cash

flow pinch because of x y and Zed we

would like you to support us now we're

telling you 6 months ahead of the time

so one of the best ways that you can

remove cash flow problems in your

business is employ an accountant as soon

as you can get that person inhouse that

knows your numbers inside and out banks

will absolutely love it it'd be much

easier to borrow money and thus removing

lots of the cash flow problems and

they'll be helpful to you you know as

the mafia have a consiliary you will

have a consiliary within your

organization to help you that really

understand the numbers and don't forget

that little phrase a little bit of money

from a lot of people a lot of the time

now I've got well over a million

individual customers that come through

my doors each and every single year to

all my businesses so every single day we

have some cash flow here at the bank now

also in another one of my businesses

I've got a customer right now that owes

me

£750,000 now that's not extended payment

terms they've just bought a lot from me

that was my only business i' literally

be not sleeping now I can weather that

storm because I've got those million of

little customers giving me cash each and

every single day so create an ecosystem

that allows you to have regular cash

flow lots of business owners just rely

on those one big ticket sales to keep

them going those one big customer so

create an ecosystem of regular cash flow

and your sleep at night a lot better

number five is no knowledge of funding

it is horrific how many entrepreneurs

and business owners come to me and go

James help me I need to raise some

funding and I actually think about

raising money from private Equity or

Venture capitals or Angel Investors more

than going to the many many resources

for business owners to be able to borrow

cash into their business and this is

another reason why I say employing an

accountant inhouse in your business as

fast as possible is one of the ways that

you're going to be able to P that off to

them to them to go and do all the

funding and raise cash for you there's

peer-to-peer lending there's alternative

lending there's private investor lending

there's Bank lending there's more Banks

than ever before there's lease Finance

now we've got access to loads of those

people we borrow from lots of different

banks lots of different Avenues you've

got to knowledge up on this you've got a

knowledge up on this you've got to

become really good at being a person

that can raise Capital if you haven't

got that knowledge of funding you

haven't got that knowledge of funding

then I think this will be very difficult

for you to weather some storms and get

through some of those challenges and

there will always be challenges that

guys you I got a business we're doing

tens of millions of Revenue each and

every single year 1 1200 staff things go

really well well but every now and then

we have some tight points some problems

and then I have to go and fix it and

because of my knowledge of funding I can

go and get it or maybe an opportunity

comes up maybe an opportunity comes up

but I can go and seize really quickly

and I don't want to use all my own cash

I know how to raise the funding and I've

put a lot of time into reading the books

meeting people networking with people to

be able to be someone that can raise

capital and cash very quickly and even

medium to longterm and what I think a

lot of people do is just go to their

regular advisors for this stuff very

similar to actually accountants and

solicitors let's put this in the same

bracket if you're getting the same set

of results with your accountant and your

solicitor and they're your most trusted

advisers have you ever thought about

knocking on the door of another

accountant just to see if they've got a

better point of view do you not think

that is what the top 5% of individuals

are doing yes they've got multiple

accountants they talk to multiple

solicitors multiple Banks multiple

investors to get things over the line

that puts them in the top 5% number six

is innovate or evaporate because the

marketplace is always innovating and

here's the thing when people have got a

good business and things are going very

well they start to rest on their Laurels

well no no no Captain that's when you

must start innovating even more let's

look at Steve Jobs arguably one of the

last 50 years best in uh innovators you

know he took Apple to Heights that most

entrepreneurs can't even begin to

imagine because because he was an

innovator he kept on making brilliant

products now before him Sony were the

technology innovators they were just

brilliant but then they got lazy they

rested on their Laurels and apple

overtook them you want to make sure that

doesn't happen in your business now I'm

not saying that Sony is not still an

amazing profitable company of course it

is but Apple outdid them so you want to

make sure that you're constantly

innovating even when things are good

because that Marketplace is always

trying to innov and they're always going

to out innovate you so make sure you

stay at the top of your game you know if

you carried on making fax machines you'd

be bust that's the that's the point I'm

trying to hammer home you must innovate

all the time number seven this is

something that I don't think you'll hear

on many YouTube videos when we're

talking around these subjects and that's

direct response marketing if you want to

be successful in business you've got to

be a marketeer of your thing over an

operator of your thing I come across

many many entrepreneurs and business

owners and the

ones that are the most super successful

are the ones that know how to get

customers create cash flow they spend

more time bringing in cash flow into

their business and that's my big message

but it's not just understanding the

marketing that cocacola would do it's

direct response marketing the power of

good copy headlines getting people to

call to action understanding how you're

going to get people's attention keep

their interest know how to get them to

make a decision to buy from you and then

to action on those decisions straight

away so you've got to learn how to be a

direct response marketing I wrote a book

called getting customers I suggest you

go and get a copy of that I've made

loads of videos here on the YouTube

channel about how to do really good

marketing that works to do it frugally

by the way to do it frugally so that you

can do it with as little money as

possible look my view is if you're doing

marketing for especially a location

small business you should be building a

business and doing your marketing like

you're running for local government the

stuff they do they do leaflets through

the door they pick up the phone um they

Network they write articles in

newspapers they do uh content marketing

they beg people for their votes and

that's what you need to do in those

early days get customers become a direct

response marketeer go and check out the

videos I made on the channel about that

number eight focusing on operating your

business over marketing your business

now most business owners that I come

across spend 80% of their time in their

business operating their business

they're doing the fat returns they're

doing payroll they're opening their

business up closing their business up

they're doing all the P all the time

Vampire tasks get rid of it get rid of

it as fast as you possibly can so that

you're in a position where you're

spending 80% of your time growing your

business bringing in customers signing

up contracts a revenue generator you're

the salesman of the business you're the

sales person that is making everything

happen you're out there seeking

opportunities and if you're stuck in the

operations role how are you going to be

doing that and you're the best person to

do it you've got to be the Mover shakeer

you've got to be doing the impossible

tasks not the possible tasks and I think

a lot of business owners like doing the

day-to-day stuff because they feel like

they've achieved some stuff they feel

that they can say oh I've been so busy

today doing the vat return and dealing

with the staff and getting all those

deliveries out you won't catch me doing

any of that stuff because it's

counterproductive for the people that I

employ I need to go out there and be the

revenue generator of the business doing

the impossible tasks not the possible

tasks employ people to do all the

possible stuff the technician roles so

that you're out there creating future

opportunities for your team and yourself

and you'll be the top five% my friends

number nine is changing the outset of

your environment so that you're pulling

for opportunities not pushing for

opportunities this is the big thing

right it's the big secret that I've

discovered about high level high

performance people they pull everything

towards them they're like a magnet

bringing in all these opportunities into

their ecosystem into their life most

people are pushing for those

opportunities how does that happen well

you've got to build a personal brand

you've got to be someone that someone

wants to deal with have you ever heard

the phrase if you want something done

ask a busy person well that's because

that person's effective

subconsciously that that you know that

that busy person can get stuff done so

they just pulling more opportunities

towards them you think oh I'm a leader

of a country and I want to get some

satellites into space H sick oh hello

Elon Musk can you help me here you know

whilst you're also building Twitter or X

whatever he called whilst you're also

doing Tesla while you're also doing

starlink and SpaceX you know he's a busy

person that will have so many

opportunities every single day that he

can be picky and choosing he pulls

rather than pushes and that really is a

mindset thing it's a habit that gets you

into that position how can you do that

write a book be a thought leader get on

YouTube go on podcasts win awards for

your business get good customers because

that's a signal that people can trust

your business because you're servicing

other good customers oh my God this is a

big thing I've discovered in my life you

get one big brand leader all the other

brand leaders want to deal with you

because they trust that you're dealing

with that person so you going to get the

mindset and the philosophy that we're

going to pull opportunities towards us

rather than push for opportunities

number 10 is Be Frugal on costs so you

can be generous on investment you want

to have an element of frugality around

you on the day-to-day running of a

business businesses as they generate

Revenue as they become more profitable

they absorb fat and your job is to be a

color of the fat in your business you

want to be a lean mean operating machine

frugality must be a culture in your

business make sure that you're driving

the price down you want to make sure

that you're not overspending on labor

that you're not overspending on costs

but not to the detriment that it causes

you a problem with investment so we want

to be so Frugal on cost so we generate

massive cash flow Savings in our

frugality on costs so that we can go and

invest that money because what do all

wealthy people do what do all successful

people do they invest they invest in

themselves they invest in books they

invest in capital infrastructure they

invest in Investments they have an

investment mindset but you want to be

frugal on the day-to-day Runnings so

yeah go and buy that commercial property

that you operate out of go and buy that

next business grow by acquisition no

just grow by organic and the way you do

that is You Can Be Frugal on your

day-to-day cost you can be generous on

the big costs on investments the 11th

thing which is my last point is all

successful people subscribe to the James

Sinclair YouTube channel so make sure

you subscribe to the channel I'm jesting

a little bit there I do want you to

subscribe to my channel and read and

what all my stuff but actually that's

something else that successful people do

is they sharpen their s if you read the

book Seven Habits of Highly Effective

People you know chapter 7 is sharpen

your sore it means work on yourself

become the person that can deal with

stuff you've got to go to the seminars

you got to read the books great leaders

are great readers there's a there's a

little phrase that I I used to love you

know poor people have big TVs and rich

people have big libraries and

it's not just rich in terms of wealth

but it's rich in terms of philosophy and

outlook on life you've got to sharpen

your saw you've got to become the best

version of you reading listening

watching to the right stuff going to

seminars can all really help so

subscribe to the channel and I'll see

you in the next video to grow your

business