When a man is starting out building his own business, or even working a high profile job there’s a few ‘rules’ he should follow so he not only makes money, but builds a rock solid reputation as a man about his money. Your reputation will carry you through lean times and will ensure your business survives when the other clowns are losing their companies left and right.
Here’s 5 rules I’ve learned through trial and error about business and making money.
#5. Be Fucking Early To Interviews and Meetings
This late shit has to stop. Yea, I know LA traffic is a mess sometimes (as it is in any major city), but get up earlier, get out of the house earlier, but whatever you do don’t stroll into a business meeting late. It screams that you truly don’t give a fuck about other people’s time and thus you aren’t serious about making money.
I remember a specific time when I was a partner in a major promotions company. We were scheduled at one of the top LA club conglomerates to meet with a potential promotions company owner, but problem is the cat shows up almost 30 minutes late.
After he was 5 minutes late I wasn’t too pissed, because LA traffic is hell on earth and I get it.
After 15 minutes late I was pissed because mine and my partners time is valuable and he was shitting on it.
After 29 minutes later, I stood up and said I don’t care what kind of deal he brought to the table, I was out. He obviously didn’t give a fuck to call or text our assistants with an alert that he was running behind.
After 30 minutes this schmuck rolls in sweating and doesn’t even bother to apologize.
Needless to say, we called any business or future business with him off immediately and he lost out on an opportunity that in a span of 3 months cost him around $50,000 in profit.
His loss all because he couldn’t be on time.
Time IS money. Get there 5 minutes early no matter what.
#4. Err On The Side Of Being Serious; Not A Clown
Sure a well timed joke can lighten a mood and make people like you more, but the negotiation table is not the place to practice your stand-up routine. Save the jokes for AFTER the deal closes at the private cigar lounge when everyone is celebrating.
Better for people to talk behind your back about how ‘serious’ you are with business, then them to refer to you as a fucking clown.
You guys hear me on my podcast and I’m full of sarcasm and jokes, but that’s not a business environment. If I took a video of myself in a business meeting around a conference table you’d probably wonder who the hell this serious ass cat is, but that’s the key to learning how to differentiate social situations and what you put on display for each one.
When you speak people should shut the fuck up, because they know you have something important to say and you’re not going to waste everyone’s time with frivolous jokes and jesting. Choose your words carefully and you will get respect.
Respect = $$$$ in business. Act respectable and make money. Be a clown and the joke’s on you.
#3. Get Advice From Successful Mentors Before Making Major Business Decisions
Ever wonder why the President has a Cabinet? They are his advisors. They are his closest confidants who he runs certain policies and decisions by BEFORE taking action.
Whenever you’re facing a major business decision, whether that’s where to open your business in a physical location, or whether you should even invest into a certain business, get advice from wiser older mentors who can lead you in the right direction.
I’ve lost thousands upon thousands of dollars NOT getting advice and I’ve made thousands upon thousands by GETTING advice.
Don’t be a fool and be too prideful to ask for help. Get advice and make an informed decision. Your bank accounts will thank you.
#2. Analyze The Angles
Whenever you’re facing a business decision where it involves other partners, mergers, or dealing with a competitor, always, always, always analyze the angles.
By that I mean ask yourself the following questions to start:
“If I partner with them, how could this help/hurt me in any way?”
“If I choose NOT to partner with them, is there any recourse they may have and what can I do to stop that in it’s tracks?”
These are just two questions of many you should be asking yourself, but business is like chess. There’s always a move to be made, but the real key is looking ahead to the 2nd, 3rd and even 4th move you make. When you can see what you’re doing in advance you’ll be in a better position of power and can ‘manipulate’ the opposing side to do what you want.
An easy way to remember this key rule is this: How could you get fucked over and who has an advantage to fuck you over?
When money is involved, especially large sums of money, the sharks are swimming fast headed in your direction because they smell blood.
Remember: if you can’t see the angle, then you’re getting played. There’s always an angle.
#1. Making Money Is Not A Joke
Cats ask me all the time, “How do I make money?” My initial response is always the same: “Start treating your business like a damn business and not a fucking hobby”.
If you mow lawns in the summer for college cash, then mow lawns like your life depends on it. Get business cards made, have fliers handed out, make a cheap free website that has your prices and contact on it.
Treat it like a real business in order to make real money.
The day you stop treating your ‘passion’ like a hobby and treat it like a business is when you’ll start making real money.
Remember: people WANT to do business with experts. Not half-ass wannabes who feel like being nice and hoping word gets out about their company is the key.
These are just a few of the business rules I live by, but post one of your rules below for everyone to benefit from.
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