A summary of things you should know about Getting Things Done according to David Allen Introduction In this episode, best-selling author, David Allen provides a deep dive into his bookRead More
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]]>In this episode, best-selling author, David Allen provides a deep dive into his book Getting Things Done. In his book Allen gives you a step-by-step guide to create a model and methodology to approaching and addressing the world we live in today. Through his 5 stages you will learn how to set an idea or project under control ensuring that your productivity is not costing you dearly. This book is a must have for all entrepreneurs who are in need of some guidance for crafting a well-organized work ethic.
My book is relatively timeless, meaning the principals are as old as dirt and they tend to be true no matter who uses them. This methodology starts with where you are, not with where you should be.
Your head is for having ideas, not for holding them.
I start out by talking about why the old methods really don’t work very well given the kind of world that we are in these days. I spend some time talking about why we need a model or methodology to approach and address the kind of world that we are in today.
There is a chapter in the beginning where I talk about the five stages that you need to engage in in order to get something under control. It turns out that there are five stages we all go through in order to be able to really get something under control and to be able to make it work. The first stage is to be able to collect the things that have your attention. What is it that’s on your mind? The second stage is how to process the things that you’re captured by. Stage three is how to organize the results of that thinking.
Stage four is how to step back and review and how to engage with these lists that you have collected.
Stage five is how to make the appropriate choice out of all the options of calls you have to make, errands you have to run, and things you need to handle. Once you have a project or a situation I introduce people to what you call a nature planning model. Our brains naturally plan and they do it automatically but the natural model is not the normal model. So the first part of the book is a way for people to get a quick grasp of what this methodology is if you were to apply that. As simple as those things sound, we are not born doing any of that.
In part two I tell you if you were to buy in to this idea, how would you go implement it, what would this really look like? I walk people through the coaching process that I developed over 20-30 years and describe what that process is.
The last part of the book is oh by the way because a lot of people want the model but I couldn’t resist saying there is a lot more to this that meets the eye. There are a lot of incredible and powerful things that start to happen once people start to implement these fairly simple behaviors that goes way beyond what you might think.
“Your head is to be freed up to make intuitive decisions about your options, not to remember or remind them.” – David Allen
I wrote a book called Getting Things Done after 20-25 years of doing the work that the book is about in my own consulting practice and in the corporate training/coaching world. I have a small company still doing coaching and training around the world and that’s my professional of who I am and what I am doing.
It took me 25 years to figure out what I figured out. I found things that really worked and I also wanted to create a model that worked for everybody so that it didn’t matter either what level you were at or what kind of industry you were in. Overtime I discovered that it didn’t seem like anybody came up with the same model I did and the model turned out to be bulletproof.
The War of Art by Steven Pressfield
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Related books: Habit Stacking by Steve J Scott | Work Smarter by Nick Loper | Smartcuts by Shane Snow
Relevant advice and tips: 7 Productivity Tools for Entrepreneurs to Make Life Easier | The Advantages of Technology in the Life of an Entrepreneur
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]]>A summary of things you should know about The Financially Savvy Entrepreneur according to Emily Chase Smith Introduction In this episode Emily Chase Smith provides small business owners with aRead More
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]]>In this episode Emily Chase Smith provides small business owners with a step-by-step guide to staying financial healthy. In her book, The Financially Savvy Entrepreneur, Chase Smith shows you how to save your financial system from crumbling by teaching you to understand how an entrepreneur’s financial decisions are different from others and to establish a business that can stand on its own financially. This book is perfect for the entrepreneur who is searching for a clear process for avoiding the financial consequences that derail so many small businesses.
There is a lot written on personal finance but I wasn’t finding what I needed for the small business person that really addresses the reality of what they are going through in terms of building a business and trying to dovetail that with their personal life. When your business is really small, what’s going on in your business and your personal life are intricately linked. I wasn’t finding anything that I was seeing on a daily basis with my clients.
There are financial systems that are necessary in your business no matter what size it is and if you are serious about your business that is a necessary thing to learn. I am a firm believer that if you can run a small business, you’ve got this, but it’s not something you have ever been taught. I went all the way through law school and nobody ever taught me any of this stuff, this was information I went and sought out on my own. I think small business owners will be very well served by putting some effort into having that financial savvy because it’s the gift you get to keep your whole life.
This book is directed towards someone who is probably five million in business and who is trying to understand how to bring some financially savvy principles into their business. I start out by laying out how we are different from the regularly employed people and why everything out there on personal finance doesn’t apply to us. We talk about how much time you have to make this business really fly based on the resources you have at hand. We break out what those resources might be, start to put some numbers to them and start to look at how long you have.
There are a couple chapters that talk about exactly what you should be doing with the finances. We talk about how to look at the numbers and how can that help you guide your business.
There is a whole section on drafting and exit plan. I am a firm believer that when you start a business you should know how far you’re willing to go in terms of time, money and effort. The act of just writing those things out is very healthy and hopefully you won’t have to come close to those markers but you know what those are.
We talk about cash flow projection in the book and how to do that. We have a whole section in the book that I call money spaghetti, that idea of entanglement. We identify where you are vulnerable and put together a plan to extricate yourself. And because of my background we talk about debt settlement, negotiation and there is a part on bankruptcy.
“It’s not my quote but I love the concept. “Everything should be made as simple as possible, but no simpler.” – Albert Einstein
I come from an entrepreneurial family; my great grandparents were self-made citrus farmers in Santa Barbara California, my dad has been a self-employed architect for many years and I’m an attorney by education and trade. I morphed that through the experiences I’ve had over the years into being a financial educator for small business.
I had a heavy influence in my legal practice in the area of bankruptcy and I worked primarily with small business owners filing personal bankruptcies. With that I had the chance to be up close and personal in peoples personal and business financial lives. I did this for many years and after a while I started to see some of the same patterns occurring over and over again which was really hard to watch. Working with smart entrepreneurs I realized that if they just had some simple symptoms in place, a lot of them wouldn’t be sitting in my office needing me to file a bankruptcy.
48 Days to the Work You Love by Dan Miller
Buy The Financially Savvy Entrepreneur by Emily Chase Smith on Amazon today
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Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz | Zero to One by Peter Thiel | The Millionaire Master Plan by Roger Williams
Relevant advice and tips: Top Financial Mistakes Entrepreneurs Make When Creating a New Business
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