We all have fears in life.
I fear getting into a black cab and accidentally realising I’m on the set of FakeTaxi.
But I wouldn’t say fears materialise as much as when you run a business.
Mainly because, you’re forced to be uncomfortable a lot of the time … and when you match that with being punched in the face over and over again and expected to keep getting up and brushing yourself down, you can see why it’s not right for most people.
But here’s the worst part of it … fear really stops people from progressing.
They get in their own way.
I’ve experienced this.
I was brought up by a single mother that constantly panics about her lack of money – money is dangerous, tax bills are scary and having too much money won’t make me happy.
You don’t really think that the shit you were fed in the first ten years of your life impacts you until you start having to change these beliefs in order to grow your business.
But one thing I’ve found is that if you can detach the emotion from the process – then it becomes much easier.
Let me give you an example …
I have three businesses, as you may know.
- Oli Luke Ltd – this one (which has been my main source of income)
- Scribble Mail – my mailing house that I have a business partner with
- US Advertising Agency – that I have with two business partners.
Scribble Mail and my US agency have already out-grown my Oli Luke business – and they’re both less than five months old.
Why do I think that is?
Because, I’m emotionally detached from the money in their bank account.
I take my income from my Oli Luke business – I have no intentions of taking any money out of the other two businesses.
Instead, we’re reinvesting all the profits from those businesses into growth.
Every penny of profit will be put back into buying more clients and development – which means that in the next 3-5 years – we’ll be able to sell both businesses, and I’ll be able to take a £10m+ chunk of money that I just have to pay 10% tax on (up to £10m).
Because I don’t see the money as money, and I see it as points that I need to build up – the fear that I’ve previously had attached to money is not there.
This means that decisions are black & white – there’s no emotion involved – which means that I can invest more, take bigger risk and do the right things for the businesses – rather than the right things for me.
My ‘Oli Luke’ business – which has been my main source of income and a business I have a huge amount of emotion attached to has been more difficult to grow because I’ve got headshit around it.
Only now – after driving these two new businesses – have I realised my mistakes.
I’m now ramping this business up – detaching the bullshit emotion I have – and attempting to build something special.
Ahhh – so what’s the message in this rant? (because it’s a little different to my usual rants).
It’s to learn from my lesson above and detach your emotions/fears from your business – and see it for what it is, a game.
If you can get good at the game, then you’ll win plenty of points (which always result in great prizes).