Business Coach Answers From Clay To Z – Part 2

Audio Transcription

If you are needing to find the answers to your business questions then tune is today as we go over the answers to questions from real business owners all over the planet. Business coach Clay Clark is breaking down questions from “How to work with family” to “What are your favorite historical figures”

5. Historical Figures Who Clay Loves

   1. Question – Who are your favorite historical figures to learn about?

   2. Benjamin Franklin

      1. He was one of the Founding Fathers of the United States.

      2. He invented the Franklin stove, bifocals, the lighting rod, etc.

      3. He saved America by convincing the French to support us in the Revolutionary War.

      4. He left us a legacy of notable quotables:

         1. NOTABLE QUOTABLE – “Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin

   3. Thomas Alva Edison

      1. He and his team logged over 10,000 failed experiments before the created the first practical light bulb.

      2. He and his team invented motion picture technology.

      3. He and his team invented recorded audio.

      4. He invented held over 1,093 patents.

      5. He left us a legacy of notable quotables:

         1. NOTABLE QUOTABLE – “Genius is one percent inspiration and ninety-nine percent perspiration.” – Thomas Edison

   4. John D. Rockefeller

      1. Despite being raised by a con artist and a bigamist he was a very principled person who began working at the age of 16 to support his family and went on to become the world’s wealthiest man.

      2. Every year John D. Rockefeller celebrated the day that he landed his first job “September 26th”

         1. NOTABLE QUOTABLE – “All my future seemed to hinge on that day.” – John D. Rockefeller

      3. He essentially created the modern oil and gas industry.

      4. He was focused on building repeatable systems that allowed him scale his wealth creation without scaling the amount of time that he worked.

      5. He saved 10% of his total earnings throughout his life and then donated an additional $500 million on top of that throughout his life to educational, scientific and religious causes.

      6. NOTABLE QUOTABLE – “A friendship founded on business is better than a business founded on friendship.” – John D. Rockefeller

6. Working with Family 101 –

   1. Question – What is it like to work with your family?

   2. Principle #1 – It’s fun to work with diligent doers (regardless of whether I’m related or not).

   3. Principle #2 – It’s a negative experience with negative people (regardless of whether I’m related or not).

   4. NOTABLE QUOTABLE – “A friendship founded on business is better than a business founded on friendship.” – John D. Rockefeller

      1. MOVE #1 – Set Expectations Clearly (Goals and Roles)

      2. MOVE #2 – Create an Exit Strategy

         1. Sometimes there is no amicable solution:

            1. Employee Theft: Are You Blind to It?

               1. https://www.cbsnews.com/news/employee-theft-are-you-blind-to-it/

7. Visuals and Learning –

   1. Question – How does doing drawing and visuals help you communicate to your team?

   2. We Remember Better with Visuals

“A large body of research indicates that visual cues help us to better retrieve and remember information. The research outcomes on visual learning make complete sense when you consider that our brain is mainly an image processor (much of our sensory cortex is devoted to vision), not a word processor. In fact, the part of the brain used to process words is quite small in comparison to the part that processes visual images.” – Psychology Today – https://www.psychologytoday.com/blog/get-psyched/201207/learning-through-visuals

3. The Variety of Visuals That Can Be Used for Effective Learning – “Various types of visuals can be effective learning tools: photos, illustrations, icons, symbols, sketches, figures, and concept maps, to name only a few. Consider how memorable the visual graphics are in logos, for example. You recognize the brand by seeing the visual graphic, even before reading the name of the brand. This type of visual can be so effective that earlier this year Starbucks simplified their logo by dropping their printed name and keeping only the graphic image of the popularly referred to mermaid (technically, it’s a siren).” – Psychology Today – https://www.psychologytoday.com/blog/get-psyched/201207/learning-through-visuals

4. NOTABLE QUOTABLE – “Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin

8. Dealing with the Poverty Mindset

   1. Question – How do you deal with family members that do not have a success mindset?

   2. Poverty Mindset 101:

      1. The world owes me something.

      2. As a self-employed person I deserve sick days.

      3. I don’t have time to read and study how to become more successful.

      4. I don’t have anything because somebody else has it.

      5. Success is determined only by luck.

      6. Success is determined purely by heredity.

      7. Our economic system only rewards the rich.

      8. It takes money to make money.

      9. My life is terrible because of other people.