Sleep
Exercise
Diet
Mental Health
Family and Social
Financial
Fun
The Power Hour
Prayer/Meditation
Go for a Run, Swim, or Ride
Review Your Daily Plan
Eat a Healthy Breakfast
Visualize Your Mountain in Vivid Detail
Recite Affirmations Audibly
Start Your Day with Gratitude
Write a Thank-You Card for a Team Member
Evening Peace Plan
Tuck the Kids in Bed or Spend Time Connecting with a Loved One
Review Appointments for Tomorrow
Journal About Your Day
Engage in a Relaxing and Creative Hobby like Guitar or Drawing
Pray/Meditate
Leave Your Phone Outside Your Bedroom and Sleep Peacefully
When Life Happens…
Overcoming Pitfall 9: Protect the Asset (You)
Pitfall 10
No Business Acumen
Key Performance Indicators
Knowing the Right KPIs to Track
Cash Flow
Why Cash Flow Is Important
Sales Cycle
Why Sales Cycle Is Important
Year-over-Year Trends
Why Trends Are Important
Growth Rate
Why Growth Rate Is Important
Revenue, Profitability, Profit Margin, and EBITDA
Why EBITDA Is Important
Conversion Rate (Close Ratio)
Why Conversion Rate Is Important
Pricing
Customer Acquisition Costs (CAC)
Why Customer Acquisition Costs Are Important
Customer Lifetime Value (CLTV or LTV)
Why Customer Lifetime Value Is Important
CLTV:CAC Ratio
Why the CLTV:CAC Ratio Is Important
Churn Rate (Customer Retention/Attrition)
Why Churn Rate Is Important
Customer Satisfaction (CSat)
Why CSat Is Important
Dashboards
Lead and Lag Measure
Overcoming Pitfall 10: Develop Business Acumen
Pitfall 11
Breaking the Promise
The Promise
Survivorship Bias
Talk with Former Customers
Overcoming Pitfall 11: Keep Your Promise
Pitfall 12
Building Not Selling
Marketing
Marketing Quick Wins in Building Your Funnel
Top of the Funnel
Middle of the Funnel
Bottom of the Funnel
Sales
Strategy
Go Big or Go Home
Overcoming Pitfall 12: Drive Revenue
Pitfall 13
A Thousand Great Ideas
One Idea at a Time
A Simple Solution
Overcoming Pitfall 13: Laser Focus
Pitfall 14
Playing the Victim
No Excuses
Finding Serenity above the Storm
Eustress Versus Distress
Fight-or-Flight vs. Thrill-and-Skill
Change Your Language to Change Your Brain
Overcoming Pitfall 14: Get Excited About Challenges
Pitfall 15
Lacking Structure
Ownership Structure
Offering Ownership Is a Taxable Event
Build a “Top of the Mountain” Org Chart
Use Vesting and Employee Stock Options
Create a Capitalization Table
Determine a Distribution Structure
Leadership Structure
Legal Structure
Board Structure
Overcoming Pitfall 15: Build a Solid Foundation
Pitfall 16
Losing Sight of Culture
The Meaning of Culture
Vision and Purpose
Contribution
Safety
Gratitude/Respect
Growth
Communication
Overcoming Pitfall 16: Nurture Culture
Conclusion
References
Resources
About the Author
About Entrepreneur’s Paradox
Suggested Reading List for Entrepreneurs
I sat in the upstairs dining area of the original Giordano’s Deep Dish Pizzeria in Chicago, surrounded by signed pictures of celebrities, athletes, musicians, actors, politicians, and I’m fairly sure, a few local gangsters. The world-renowned pizza, smothered in fresh tomato sauce and layers of cheese, turned out to be nearly as deep as the conversation I was having with my friend, Greg. We were both entrepreneurs—me having started my first multimillion-dollar media agency at only twenty-six, and Greg having built a successful venture in Japan around the same time. My agency did everything from logo and branding design, radio and TV commercials, and trade shows, to heavy back-end database work. We specialized in interactive multimedia and rich internet application development. I even ranked second on an international certification for multimedia development. I loved being on the cutting edge of technology. I still do. It turned out for Greg and me that running our businesses was a part of our genetic makeup—the thought of not being some kind of entrepreneur just never occurred to either of us. If you’ve picked up this book because of the title, you likely know this feeling well.
Over the course of