The ASE Fleet's Weekly Take Off 34
The Psychology Of A High Performer In Less Than 900 Words & Woo-Woo FREE!
Are you ready to take your business to the next level?
Here are some key principles that have the top M&A Entrepreneurs become a successful high-performance individual:
Embrace risk and pay the price for action. Don't be afraid to make bold decisions and pursue your dreams.
Conventional wisdom is often wrong, so don't rely on it. Instead, trust your intuition and ignore what others think.
Don't be afraid of failure. Learn from your mistakes and move on.
Set ambitious goals that challenge you to be the best you can be. Don't limit yourself by setting goals that are too low.
Create order from chaos and emerge as a leader in your industry. With perseverance and determination, you can achieve great success.
Use Other People's Money (OPM) and leverage the skills of others to grow your company and make millions.
Don't look back. Once you make a decision, stand by it with confidence and focus on your next important decision.
Building your personal foundation for super success starts with breaking free from conventional thinking, which is the greatest limiting factor in your own mind. One of the first new rules is to recognize that rules themselves are limiters, putting you in a self-imposed box. To become truly successful, you must think outside of the box.
Don't pay attention to the limiting beliefs of others, especially those who would hold you back. Listen only to legitimate warnings from those who have been there before. To be successful, you must embrace risk and understand the difference between a crazy risk and a stupid one. Take bold action without waiting for every detail to be nailed down.
To be a high performer, you must be passionate about your business and play to win, not just to avoid losing. Super success is a full-time job that requires a strong foundation of self-confidence and self-regard. Take action immediately and build on each success to raise your confidence and predict your own future success. Remember, the best way to predict the future is to create it yourself.
Achieving super success requires practice and the willingness to step outside of your comfort zone. Don't aim for perfection in an imperfect business world - it's important to be comfortable in an environment of super success. If you know, you're headed toward a destination, preparing yourself for your arrival makes sense. Just as you would research and learn about a new culture before opening a business in a foreign country, you must also get comfortable with the people, settings, and actions associated with high performance.
Expanding your comfort zone means pushing its limits and having experiences beyond its perimeter. It's a learned behavior and can be achieved by emulating the actions and reactions of high performers. You can also visualize success to help clarify your vision and commitment. Writing down your ideas and carrying them with you creates a tangible reminder of your goals.
Success comes from expanding your comfort zone and pursuing your vision with clarity and determination. As Tiger Woods showed when he won the Masters, he had visualized that moment since he was a child. Similarly, when Great Western opened its corporate headquarters, they had visualized it down to the smallest detail. Don't be afraid to step outside your comfort zone and practice being successful with as much determination as a world-class athlete practices their skills.
Yesterday's dreams are today's realities. Remember to dream big and visualize your future success. Without dreams, you'll never progress.
See your dreams ahead of time now. Don't just talk about your dreams but take action towards them. Visualize and dream of your success and you will be more likely to achieve it.
Simulation: Practice within, then you're without. Seek opportunities to challenge yourself and practice your skills. This will help you become a better leader and set you up for success in the future.
Act as if there are no limits to your abilities. Don't sell yourself short. Pursue your goals relentlessly, and you'll be surprised at what you can achieve.
Enthusiasm comes from the Greek word "entheos", which means "god within". Cultivate your enthusiasm for your work and goals. This will generate the passion, energy, and determination needed for success.
While some may believe that mastermind networks can lead to success, it's important to choose members with different areas of expertise, similar levels of experience, and commitment and not to gravitate towards one individual to become chairperson of the group.
Lastly, a mentor can provide a quantum leap in wisdom for your career. When selecting a mentor, choose someone more successful than you, who you genuinely like and respect, and who has achieved success in the same field of endeavor as your own. You and your mentor should also share common interests beyond the business milieu, which will provide a relaxed environment for you to unwind and explore ideas.
Success is attainable if you dream big, take action, practice your skills, pursue your goals relentlessly, cultivate enthusiasm, and seek guidance from those who have traveled the road before you.
Memes Of The Week
Post Of The Week
Here's ASE's Top Capital Partners - No Ceiling:
Financial Architecting Tip Of The Week
The ASE Fleet's Deal Architecting Tool #22
"Add-backs for business valuation are expenses that are added to a business's profits to improve the company's apparent profits. Usually, they are added to the business earnings before interest, taxes, amortization, and depreciation are subtracted.
When selling a company, add-backs are expenses that are considered unusual, non-recurring, or discretionary, but you want to make sure the buyer knows about them. The expenses can be considered to be temporary, and a new company owner should not have them."
Common Add-backs from the EXITPrenuer's Playbook include:
Deltas in the owner's salary vs. the industry standard
The owner's health insurance and retirement contributions
Payroll Tax Expenses & Estimated Income Taxes
Trademarks, copyrights, patents, and logo design
Unacceptable Add-backs from personal experience and other's stories include:
A new boat
A new house
A new car (Non-Business Related)
Your Neighbor's College Tuition
Everything that you saw in The Wolf Of WallStreet
Deal Trophy Of The Week
M&A Script Of The Week
The ASE Fleet's M&A Negotiation Bomb #4
What's your succession plan?
It seems like you don't have a succession plan!
ASE’s Deal Assembly Line
We put a man on the moon 54 years ago!
And luckily for you, closing M&A deals isn't rocket science, and it can be systemized!
ASE has a dedicated professional for each bullet point in our assembly line.
And in all honesty, having your own financial ducks in order is one of the fastest ways to leverage other people's money (OPM).
To that respect, ASE also has The Become Lender-Ready Program and a complimentary Financial Education Platform.
Our Deal Assembly Line is only a tiny part of our Become Your Own Private Equity Firm Consulting Kit.
If you're making more than $500k a year in sales and want to take your business to the moon DM me, and buckle your seat belt for take off!
Now here is some clarification on a few of the points in our infographic.
The Debt Coverage Service Ratio (DSCR) is how many times per month a company's net profit can pay for the debt service used to acquire the company after an M&A transaction is closed.
Integration is the final phase of the M&A lifecycle, where you optimize the company with systems, marketing, and by rallying the troops.
The Entrepreneurial Operating System (EOS) is an operating system for businesses that has proven to get companies higher multiples upon exit over and over.
Profits First is a model that flips the profit equation into Sales - Profit = Expenses.
Hopefully, this post connected some dots for you whether or not you work with us.
And tag us in a social media post if you implement any of this and get results; we love seeing others win!