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How would you apply the Systems Mindset to your personal life?
The Systems Mindset would work for your personal life. Consider the following quotes from Sam Carpenter's book "Work the System" : "Unhappy people are not in control of their lives because they spend their days coping with the unintentional bad results of unmanaged systems. Happy people are in control of their lives, spending their days enjoying the intentional good results of managed systems." ..."each of us is a system of systems. But here’s the rub: some of them—each of which, always remember, can be visualized as a distinct entity—are headed in oblique directions, confusing our efforts to reach our conscious goals." So basically, we act as Project Engineers who constantly work to tweak and perfect the various systems that make up the various aspects of our lives. To move forward in an integrated manner rather than "firefighting" or constant crisis management. We start this by taking a stance "above and apart" from the issues so that the distance gives us the detachment to study the various systems that we are part of. Think about the 3 main documents that Sam Carpenter talked about in the book which he says is vital for business. These are :- 1. Strategic Objectives 2. Operating principles 3. Working procedures In your personal life, your strategic objectives would be your ultimate purpose or life mission. Operating principles would be the principles you use to make decisions and should be congruent with your strategic objectives. And working procedures would be how you do any specific "thing". For instance, if one of your strategic objectives is to live with integrity, your guiding principle for that would involve asking if a particular action is congruent with your sense of integrity. Then one of the working procedures for your relationships would deal with honest communication. Eg. in your "Late going home" procedure, you might have the following steps : 1. Call spouse 2. Inform true reason 3. Inform what time you can be expected back. "Inform true reason" would be congruent with your objective. You would communicate the true reason and not an excuse. The above is a rather simplistic example but this entire approach can be useful to all areas of our lives even if we don't create detailed working procedures as we would for businesses. This is how the Systems Mindset can be applied to our personal lives. It would help us identify our values and live more in line with them. And to live more effectively and efficiently too.LN
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What negative effect has your drive for startup success and money had on your life? If you could go back, what would you have done differently?
A few years back, my ambition was the only part of my life that I cared about. I was neglecting my health, relationships, and my happiness — all in the name of "more". I got a rude awakening when my beard turned white and fell out in patches. I was LITERALLY killing myself with the way I was working. At that point, I took a self-destructive stance: I'd focus on my health and happiness more than work, even if it meant I wasn't making as much progress at work. The irony was that I had been overworking before, so my productivity and success IMPROVED when I scaled back and approached work with more balance. I'm currently living in Thailand with my girlfriend, working roughly 30 hours each week and earning twice as much as I did before. I'm also making more progress on my hobby projects than I did when I was only focused on work. I've also lost 40 lbs and generally just enjoy being alive. And my beard grew back. I've worked with some of my clients to bring in more balance, and they've seen similar improvements across the board. I'd be happy to discuss philosophy and strategy behind all of this with you if you'd like. Just remember: we work to create the opportunity to live life on our terms. If work is preventing us from living the life we want, we've lost sight of the purpose of working. Good luck!JL
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What are some weak habits that young entrepreneurs often do not notice about themselves?
Two huge ones: > Confusing activity for results. Many older entrepreneurs haven't learned the lesson, either. You can 'be busy' into oblivion. > Confusing social interaction for prospecting and sales activity. Talking =/= Qualifying. You should not be trying to let "everyone" know you exist. Find your target market and focus your effort there. Otherwise, you'll waste your energy.JK
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Entrepreneurship with my sister, or my chosen career path?
Be honest with her. Tell her your concerns now, and ask that she give you the same courtesy. The unique skills that you each bring to the table and the passion you both have is what can make the business successful - but only if you can communicate. If you aren't willing to commit 100% right now, then tell her what you are willing to give - I'm sure she'll appreciate whatever you can give her, including your support.HW
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What is the best way to scale a phone coaching program quickly and effectively?
In general it's hard to scale an hourly business. However, here are a few suggestions: 1. Offer a lower rate tier where you can capture a lot of people such as group coaching. You'll need address topics that are general to the group, and make sure that the people within the group are similar enough, but don't feel like they're competing with each other. 2. From the group coaching you can suggest people upgrade to a higher price such as the $4K for 6 1-hour sessions to address specific needs and provide the high touch individualized attention they're looking for. However, I'd still be cautious about letting people know how much they're paying for an hourly rate. 3. Can you productize this service in any way? Most businesses scale by productizing their information. If you can create learning modules for people to go through, then you can have the complete work on their own, then use 1-1 time more effectively.PV
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