Entrepreneurial Extinction

The other day it was raining. I usually walk outside – I’m a step-counting junkie – and treadmills don’t do much for me. So, I put on my walking shoes and went to a nearby mall to warm up my Fitbit. There was only one problem. The mall was closed. It was Sunday morning and apparently the mall doesn’t open until noon on Sunday. Needless to say, I was perplexed. During 2017 more than 5,000 stores closed across the nation and purportedly 5,000 more closed during 2018. I say purportedly because I haven’t seen any sort of “official” final tally for 2018. Some media sources report that more than 12,000 stores closed that year. Regardless, bricks and mortar retailers are fighting for their collective lives. They are up against the likes of Amazon and Walmart to name two of their biggest competitors. Amazon is open 24/7 and Walmart stores seem to be open most of the hours people are awake. And yet, the mall I mentioned doesn’t open until noon on Sunday and 10:00 AM on Monday through Saturday. Store (or mall) hours aren’t the only problem for bricks and mortar retail, but they certainly have to be on the list of troubles.

This experience got me to thinking about how some businesses simply fail to change with the times. This isn’t anything new. But by now one would think that the ability to adapt would be case study Numero Uno in the school of entrepreneurship. Let’s look at another example – this one is in the educational sector. For years, we’ve seen tuition spiking at public universities and colleges. According to the College Board, tuition has increased approximately 5% per annum over the past ten years. Meanwhile inflation has averaged 1.66% per year for the same timeframe. Why has this happened? Government-insured student loans have been a major contributor to the upward movement of tuition. Universities have known that they could just keep pushing tuition because students could borrow cheap money to finance the cost. There’s only one problem. The student loan bubble will burst someday, and maybe sooner rather than later. Public funding for higher education has been under pressure for years. Meanwhile, colleges and universities blithely continue to build new buildings and act like the good times will roll forever. There’s scant evidence that leadership is plotting how to adapt to what could become a very scary situation.

The landscape is littered with the carcasses of companies that failed to adapt. During 2018 we saw the death of Sears, Mattress Firm, Brookstone, David’s Bridal, Rockport, Nine West, Claire’s, Toys R Us, iHeartMedia, Gibson’s (the guitar maker) and Bon-Ton to name a few. Many of these companies had accumulated too much debt. Others grew too quickly and saturated the market with stores (Mattress Firm comes to mind). Others clearly kept plodding along with a business strategy that no longer worked.

The Netflix vs. Blockbuster Video story is common knowledge. Blockbuster never came to grips with the fact that streaming services was going to be king of the mountain, pushing the business of renting videocassettes into the abyss. Eastman Kodak failed to understand that digital photography was the future – not film and photographic paper. Yahoo blew it when Google was offering everything for free; yet Yahoo thought it could charge for e-mail and file sharing.

When we as entrepreneurs become comfortable and believe that we have the best idea, we’re probably headed for a fall. Because there’s absolutely no doubt that someone else is already working on the next best idea and may roll it out as early as tomorrow. Dr. Ichak Adizes, CEO of the Adizes Institute and one of the world’s leading management experts has developed a concept he calls the Corporate Lifecycle. He identifies a “Mature” organization as one that is about to experience “The Fall.” He goes on to say, “The leaders of The Fall companies are starting to feel content and somewhat complacent. This attitude has been developing for some time. The company is strong, but it is starting to lose flexibility. It is at the top of its lifecycle curve, but it has expended nearly all the “developmental momentum” it amassed during its growing stages. The rocket is slowing down and starting to change direction and head down the lifecycle curve. The organization suffers from an attitude that says, ‘If it ain’t broke, don’t fix it.’ The company is losing the spirit of creativity, innovation, and the desire to change that brought it to Prime (the ultimate phase of the corporate lifecycle). It has sown the seeds of mediocrity.”

There are many lessons to be learned here. As our organizations continue to grow and become rocket ships, it’s critical that we maintain our spirit of creativity, innovation and the desire to change. Always. Every day. Forever.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Podcast 133 – Five Reasons Exponential Growth Can Be Elusive.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Mickey Mouse’s Father – An Amazing Entrepreneur

I recently re-read a terrific biography by Bob Thomas called Walt Disney: An American Original. Thomas was a reporter and biographer who authored multiple biographies focusing on Hollywood celebrities. The Disney story is fascinating and is packed with incredible entrepreneurial anecdotes. As a kid in the 1950s and 1960s, I watched Walt Disney Presents and Walt Disney’s Wonderful World of Color on ABC and NBC. I remember attending the Disney movie Babes in Toyland in early 1962 at the local theater. And then of course there was Mary Poppins starring Julie Andrews and Dick Van Dyke in 1964. The pièce de résistance was a visit to Disneyland in Anaheim, California, with my family. Of course as a boy I had no idea what entrepreneurship was all about.

Roll the tape forward several decades and I find myself in awe of this amazing man. He epitomizes so many positive traits of a successful entrepreneur. For starters, he was one of the most optimistic individuals I’ve ever studied. Walt Disney was born in 1901 and began his career at age 18, and in the 1920s moved to California and launched Disney Studios with his older brother, Roy. The early days were lean – sometimes very lean. There were many weeks when the Disneys were scrounging for enough money to make the payroll. Roy took this very seriously and fretted considerably over their plight. But Walt was the eternal optimist. He would smile and say he never worried about money. He believed they would always figure out a way to survive. And he was right! Somehow the studio inevitably pulled a rabbit out of a hat and came up with the cash. Without Walt’s optimism and positive mindset, there would be no Disney legend that we know today.

Walt understood grit and perseverance better than anyone else. The Disney organization was just starting to come into its own when the Great Depression came crashing down upon the country. And yet Walt continued fine tuning his craft and creating cartoons that were well received by theater audiences everywhere. His optimism fueled this perseverance and every time he was knocked down, he was able to pick himself up, dust himself off and go back at it. This resilience combined with perseverance and a positive attitude was the key to surviving the dark days of the 1930s.

Creativity was another Disney hallmark. Walt got the idea to create a feature-length animated movie and introduced the world to Snow White and the Seven Dwarfs in 1937. No one in the film industry had every produced a feature-length animated movie and everyone doubted that such a production could succeed. Walt Disney proved the skeptics wrong and followed with additional masterpieces such as Pinnochio (1940), Fantasia (1940), Dumbo (1941) and Bambi (1942). When World War II took away many of his talented animators, he made movies under a contract with the federal government. While not nearly as profitable, the Disney organization was able to endure the war and remain in business. Walt’s creativity and ability to adapt to his circumstances were more entrepreneurial characteristics that led to his success.

He was a true visionary in every sense of the word. After succeeding with motion pictures, Walt foresaw the opportunity to create an amusement park that embodied the magic he had been delivering through his animated films. I can still remember that trip to Disneyland when I was five or six years old. I was overwhelmed by such an amazing experience. After Disneyland came his ideas for Disney World and Epcot in central Florida. Unfortunately, Walt Disney died from lung cancer in 1966 at the age of 65. The tragedy of this was the fact that he never witnessed the finished product of the Florida projects.

Walt was obsessed with detail and would often snoop after hours and look at the animator boards to see what his team was producing. Often the animators would arrive the next morning to find notes from Walt suggesting changes that would improve their work – and he was usually right about what he wanted. He demanded the highest level of quality for everything that bore the Disney brand. This was one of the major differentiators that enabled the Disney organization to consistently outpace the competition.

We entrepreneurs would be well-served to use Walt Disney as a role model. Wrapped into a single human being are the entrepreneurial traits of optimism and positivity; grit, perseverance and resilience; adaptability; creativity; vision; attention to detail and demand for quality. The impact he has had on our culture is indelible. The impact he has had in blazing a trail for entrepreneurs is profound.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 114 – Exactly What is Accountability?

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Just Figure It Out

Recently my wife and I attended her high school class reunion. For her sake, I won’t say which one, but let’s just say that it’s been several decades since her high school days. The event was well planned and quite enjoyable. As we were eating dinner at the banquet, I learned that the restaurant originally scheduled to cater the food bailed out just two weeks earlier. I inquired as to how this possibly could have happened and it was explained that apparently a new manager had recently been hired and there may have been other staffing issues. The restaurant is well-known and long-established in the community and it’s shocking that it reneged on its commitment. Fortunately another restaurant was able to step up at the last minute and cater the class reunion.

I understand that things happen. Hiccups occur in the entrepreneurial world. However, it’s times like these where the real entrepreneurs shine. When we make commitments we do whatever it takes to honor them. Sometimes this requires a great deal of creativity. Sometimes we actually lose money. But no matter what, we always honor our commitments. In the case of the original caterer for my wife’s class reunion, I don’t know what prevented them from following through and providing the food for the event. I found it interesting that while the reunion was in full swing, this restaurant was open and serving dinner across the street from the reunion site.

Real entrepreneurs have a “we’ll figure it out” attitude. Our word is our bond and we’ll die trying to deliver what we promise. Since I don’t know the exact circumstances surrounding the failure of the caterer, let’s game out some scenarios. Perhaps the restaurant found itself with an unexpected labor shortage. The management may have felt that when understaffed, it could not deliver on the catering assignment. I happen to know that this restaurant has locations in other towns that aren’t too far away. One entrepreneurial approach might have been to pull staff from another town to make it possible to honor the catering commitment. I realize that this might have cost the restaurant an extra amount of money, but that shouldn’t enter the equation where a commitment is concerned.

A second scenario might have been one where the former manager made the commitment at a price that caused the restaurant to incur a loss. Maybe that’s why there’s a new manager! Regardless, if the commitment was made at the specified price, it should have been honored. A third scenario might have been one where there was a problem in the supply chain. I find this rather implausible because the cancellation occurred approximately two weeks before the event – more than enough time to resolve an issue with a supplier. However, should that have been the case the restaurant could easily have made other arrangements to procure the necessary ingredients even if it meant buying the items at the grocery store.

The point is that a real entrepreneur would just “figure it out.” Sometimes we do things with bubble gum and baling wire. At other times we deliver a result that is a work of art. The main thing is that the job gets done and the customer is thrilled. Welching on a commitment is simply unheard of to a real entrepreneur. In the case of the caterer, they are running a great risk as a result of their actions. I overheard some of my wife’s classmates who were so irritated that there was talk of boycotting the restaurant and writing negative reviews on social media. I’m sure the word will spread throughout the city and other high school classes will avoid using this restaurant for catering their reunions.

There is a caveat to all of this. It’s important to understand that “we’ll just figure it out” is a fine approach for entrepreneurs at the early stages of our ventures. Eventually we need to refine our systems and processes and create redundancy in every area of our operation. It’s not possible to reach a level of scale if “we’ll just figure it out” is our long-term strategy. While it may sound laughable that any entrepreneur would do this over the long haul, I can tell you from personal experience that I’ve seen many, many companies that are in this mode for years.

Real entrepreneurs always honor their commitments. And sometimes this requires them to “just figure it out” through unconventional means.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 108 – Entrepreneurial Insecurities.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Entrepreneurial Energy

What do you think of when you hear the word “elimination?” Does it have a positive or negative connotation? What could “elimination” possibly have to do with entrepreneurship? Is it a sinister plot to get rid of the competition? Happily, “elimination” is a very positive concept for entrepreneurs. Let me explain.

Nature has installed a regular elimination process within our bodies. We eat and drink foods and liquids which provide nourishment. But not all of what we consume is useful and our system eliminates this as waste. If this elimination process did not exist we would eventually become so bloated we would explode – or at least that’s my speculation!

I read a staggering statistic recently. Apparently the National Science Foundation published a paper in 2005 stating that the average person has between 12,000 and 60,000 thoughts per day! The paper went on to say that 80% of our thoughts are negative and 95% of them are repetitive. If true, this is astounding. It’s no wonder that the older we get, the harder it seems to remember things – it’s probably because our minds are so cluttered with the cumulative effect of our thoughts.

So, what does this mean for us as entrepreneurs? Having a fresh mind that is able to think clearly is paramount to our success. And of course mental clutter and negative thoughts impede our creativity. If truly 80% of our thoughts are negative, we are living in a danger zone when it comes to flourishing entrepreneurship. It’s one thing to acknowledge that we need to change our mindset. But that is easier said than done. After years of “practice,” negative thoughts may come naturally to us.

The answer is to embrace a process of elimination. The first step is to realize when negative thoughts have crept into our consciousness. Keeping a “thought journal” for a few days might be helpful in this regard. Every time we have a negative thought, we write it down in our journal. In a short period of time, we will become very mindful of our thought patterns and actually identify the triggers for negative thinking. The second step is to eliminate the negative thoughts. This might be accomplished in a symbolic way by taking the negative thoughts we’ve transferred into our journal, then tearing out the page at the end of the day and burning or destroying it in some manner.

Because nature abhors a vacuum, the elimination of negative thoughts will create a void into which we can pour positive thoughts. A few that come to mind are gratitude, enthusiasm, optimism, exhilaration, confidence and fulfillment. It’s these positive nuggets that will provide us with the “entrepreneurial energy” to reach the pinnacle of success. Just remember that the elimination process is just as important as the positive thoughts we think. Without elimination, the negative thoughts of fear, lack, limitation, envy, jealousy, hurt and unworthiness, continue to hang around and fester. They make it that much harder to usher in the positive energy that allows us to thrive. The bottom line is that we must be very intentional about the process of elimination.

There’s one more thing we can do that will physically reinforce the notion of elimination to make way for more good in our lives. If you are like me, we have all sorts of “stuff” that has accumulated over the years – material things in our garages, attics, basements, storage sheds – you name it and it’s probably there. While cleaning out these areas may not be our idea of a fun Saturday project, it certainly can be therapeutic when we see it working in tandem with eliminating negative mindsets. And it never ceases to amaze me that I save some of the darnedest things. For example, I’ve received a monthly financial publication for decades and have saved every one of them. I guess I figured that I might go back and look at them at some point in the future. Except that I never have – not one single time. And now all of that information and more is easily available on the Internet. So, I found it somewhat liberating to get rid of all of these magazines (and my house is less of a firetrap to boot). The point is that eliminating unneeded physical possessions is an act that supports the elimination of unneeded and unwanted thoughts of mind.

Entrepreneurial energy can be gained when we intentionally practice the process of eliminating negative thinking. Then the creativity and positivity that flows into the void will help propel our success like rocket fuel.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 97 – Rabbit Trails.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

An Entrepreneur’s Primer

Here are 13 concepts by which I live. They are my guideposts and serve as an Entrepreneur’s Primer. They’ve worked well for me and I’d like to share them with you.

  1. Live today like you’re going to die tomorrow. It’s impossible to know when our “number” will be called. Why waste a single moment on that which is unproductive? And make sure to appreciate those whom you love – you will have regrets after they are gone if you take them for granted.
  2. What you think, will become reality. People who always have a positive mindset produce positive results and live a happy life. We can stack the deck in our favor if we train ourselves to reject negativity. Just as importantly, we don’t allow negative people to be a part of our lives. Our mind is more powerful than we can imagine and we can use it to shape an amazing present and future.
  3. Never, ever, ever, ever, ever, ever give up. These are the famous words of Winston Churchill and they ring true as much today as they did in the darkest hours of World War II. The key to perseverance is to make constant tweaks and pivots until what we are striving to accomplish actually manifests.
  4. Don’t take risk . . . manage risk. Taking risk is like gambling. Our businesses and our lives are too valuable to be betting the farm on Red 32. Instead, we identify the risks and create strategies to contain and mitigate them. Then we can proceed to launch new initiatives without fear.
  5. Laugh every chance you get . . . especially at yourself. It has been proven scientifically that laughter is healthy. Laughing many times every day is good for establishing a positive mindset. When we laugh at ourselves and can be self-deprecating, we show others that we are comfortable in our own skin.
  6. What you give will come back to you in amazing ways. We give because it makes others feel good and us too. And when we give without quid pro quo for the simple joy of giving, our life is fuller and richer. We also remember that gratitude is part of this equation and express our thanks to many people as often as we can.
  7. March to your own tune, but do so with purpose. We avoid the herd mentality and are proud of our individuality. But we don’t do so simply to be different. We do so because we have a strong set of core values and a clear vision for our future. We aren’t worried about what others think so long as we aren’t stepping on their toes.
  8. Mistakes are simply the unfinished experiments in the laboratory of life. I love this one! There’s no way to know if we are on the right track unless mistakes are made. If everything is too perfect, then it’s likely we aren’t stretching ourselves to be better. Rather than obsess over our mistakes, we figure out what there is to learn from them and then start a new experiment.
  9. Creativity is a way to express your passion. And passion allows you to see in color. Each of us has a creative streak – it may be buried deeper in some of us, but we all have the ability to innovate in some way. Amazing and wonderful things can come about as a result of the creative process and it’s likely that our passion will be stoked. Life is full of sunshine and light when our creativity is off-the-charts.
  10. The success of a career can be measured in the number of lasting relationships that have been collected and nurtured. I see relationship building as an opportunity to serve. When we are always looking to help others in a genuine manner without the thought of receiving anything in return, we move beyond the transactional aspects of an acquaintance into a true relationship. Putting Good out into the world through service is the Law of Attraction – and in turn, we will attract Good into our lives.
  11. Balance your life – emotionally, intellectually, financially, physically, spiritually and with your family. This one can be tough, especially if we really, really love our entrepreneurial adventure. Here’s a secret. Having this sort of balance has a giant payday. It helps us to avoid burnout and sets the foundation for greater stimulation of our creativity. Besides, who wants to be around a one-dimensional person anyway?
  12. Help others buy your ideas. Do we sell our products and services, or do we help others buy them? There is a massive distinction between the two. Helping someone buy is “customer-centric” and selling to someone is “product-centric.” We will have much more success if we focus on the customer and his or her needs. It’s quite possible our product or service isn’t right for him/her – and that’s just fine. We can then move on to help someone else with the buying decision.
  13. You can’t do this all by yourself. Develop a support network of colleagues, friends and family. Being an entrepreneur can be a pretty lonely proposition. Being able to share success and failure with others is important to our mental and emotional health. Our friends and family provide safe refuge to which we can turn whenever needed. There is nothing gained by being the macho Lone Ranger . . . except loneliness.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 90 – The Few, the Proud.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Entrepreneur concept with young woman reaching and looking upwards

Super Powers

Super heroes are known for their super powers. Superman could fly and possessed incredible strength. Captain Marvel could levitate. Wonder Woman had x-ray vision. Hercules could self-heal. Iron Man could become invisible, and Stretch Armstrong was a shape shifter. Cartoon characters are bestowed with amazing super powers and always seem to find themselves in situations that call for the use of those powers specifically unique to them.

Successful entrepreneurs also have their own unique super powers. Discovering and utilizing such powers can lead to some amazing results. As we progress through our careers, we become more and more aware of our super powers. The earlier in life we are able to discern our special abilities, the sooner we’ll be able to focus them and realize our full potential. Just like most of the super heroes, we entrepreneurs can’t lay claim to all of the super powers which is why we need to understand what is ours and how to use it. Here are a few ideas on the subject.

Creativity and Imagination are foundational super powers for many entrepreneurs. Probably one of the most creative individuals ever to walk the planet was Steve Jobs of Apple fame. Jobs had a vision that was unmatched and he transformed society by imagining things that had never been done before. He envisioned the iPhone to have on-screen features rather than the old buttons that were used on other cell phones.

Tesla’s Elon Musk exemplifies the super powers of Perseverance and Resilience. Another of his enterprises is a company called SpaceX which is attempting to commercialize space travel. Even though there have been countless setbacks including rockets that failed to function properly or exploded in 2006, 2007, 2008, 2015 and 2016, Musk continued to stay the course to reach his ultimate goal of making space travel affordable and colonizing Mars.

McDonald’s would not be the company it is today had it not been for its founder, Ray Kroc and his super powers of Optimism and Ambition. Very early in his career he met Earl Prince, the inventor of a five-spindle milk shake machine called the Multimixer. He spent 15 years selling the machine to a variety of customers including two brothers in San Bernardino, California. Dick and Mac McDonald entered into an arrangement with Kroc to expand McDonald’s beyond a single restaurant and the rest is history. Because of his Ambition, Kroc was able to effectively push the expansion plan. And his Optimism was contagious and enabled others – franchisees, suppliers, bankers and investors, to believe in him and his plan.

When we think of Amazon we understandably think of its founder Jeff Bezos. Here is a man who is not afraid of failure because his super power is seeing the world as a laboratory in which to Experiment. Is there any doubt that he’s done exactly that? He started selling books online, and today sells EVERYTHING through the Amazon website. In addition, Amazon Web Services, is a subsidiary that provides a cloud-based computing platform to the business community. Bezos convinced investors to back his approach of experimentation from Amazon’s launch in 1995 to 2016 when it achieved annual sales of $136 billion. He advises entrepreneurs to focus on process not failure, and further to “deconstruct products, processes and ideas.”

Building and serving Relationships are Reid Hoffman’s super powers. Hoffman was the COO of PayPal and co-founder of LinkedIn. He likes to build deep, long-term relationship that give insider knowledge. Says he, “If you reverse engineer the relationships of many successful entrepreneurs as I have, you will realize that many people work with the same people over and over in their careers.”

What is your super power? Once you find it, focus on it, refine it and exploit it. It may not enable you to leap over tall buildings in a single bound, but it may be just what you need to build a successful and sustainable organization.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 72 – Vacuum Cleaners & Movies.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Congratulations – You Own a Gold Mine!

Have you ever watched the TV series Gold Rush: Alaska? It’s a lot of fun to see different miners interact with each other; spend a lot of money, and fight amazing odds to discover GOLD! They are grizzled guys and gals who brave the harsh Alaskan elements to find the elusive precious metal . . . and of course, smile (or snarl) at the TV camera.

If you watch very many episodes you will be led to believe that it is very, very difficult to succeed in finding gold. I disagree. In fact, I believe that each and every one of us already owns a gold mine. You may think this is a metaphorical reference and that’s partly true. But there is a literal aspect to this concept that I will explain in a moment. So what is this gold mine that each of us owns and where do we find it?

If you’ve read my blogs over the years and listened to my podcasts, you already know that I’m a dyed-in-the-wool advocate of maintaining a positive mindset. I believe that there’s a positive energy flow in the world into which we all can tap. When we worry; when we think negative thoughts, and when we act in ways that are hurtful to others, we block that positive energy flow. Then we wallow in our fears, our hurt, our frustrations and our misery – a process that feeds upon itself. And at the end of the day where are we?

Eliminating negativity is critical to discovering our gold mine. Being in a positive place all day, every day, allows us to harness the amazing power of passion and creativity. Do you ever feel stuck in place, spinning your wheels and not moving forward? You may be stuck right on top of your gold mine and you don’t even know it! So what to do? First, start with developing a meditative practice. Meditation is simply the act of dumping the wastebasket of stuff that collects in our minds. When we become quiet and discard the noise and negativity, we create a vacuum. But nature abhors a vacuum and what comes next is the exciting part. For me, a torrent of creative ideas begins to flow.

I want to support those creative ideas in every way possible. I do this with positive affirmations. If you want to become an expert at this, develop a positive affirmation that rings true for you. Then say it 100 times each day in blocks of ten. “Wonderful things are happening in my life right now!” is an example of a positive affirmation. Say it with gusto and different voice inflections. If you do this for a week, your conscious and subconscious mind will believe it.

When negative thoughts creep in, we recognize them and release them. One way to do this is to keep a journal in which we record our negative thoughts. We transfer them out of our minds and onto paper (electronically works too) – and we leave them there. At some point we might revisit them to determine what prompted the thoughts in the first place. But most importantly we get them out of our heads as fast as possible.

So where’s the gold? Here’s an example of how I found my gold mine. Recently I was speaking with a broker about listing for sale a property that we own. The property was purchased a few years ago and we knew it was going to have an excellent valuation – we just didn’t know how valuable it was going to be. In the process, I remembered that more than ten years ago, we sold an apartment property and completed a tax-deferred exchange for a couple of drug stores. Frankly, I figured that this was simply a process of protecting the tax positions for our investor limited partners. I never thought that we’d realize any value as general partners. While speaking with the broker, I mentioned that we owned the drug store properties as well. He responded by telling me that the market for this type of property has changed dramatically over the years. On a whim, I had him analyze the properties and he came back with an eye-popping valuation. We’ve listed those two properties as well and I’m looking forward to the day when we cash significant checks as a result of their sale.

I truly believe that by maintaining a positive mindset, a creative spark stimulated me to mention these properties to this broker. Up until that point I had completely written them off as having any value for my partner and me. By tapping into the flow of positive energy we discovered another vein of gold in our mine. I can tell you that this is not an isolated incident. It happens all the time.

The calculus is simple. An enduring positive mindset allows for the flow of creative ideas that in turn helps us find the gold mines that are ours to claim.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 53 – Is the Lone Ranger Dead?

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.