James Sinclair - The Millionaire Clown
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James Sinclair started out as a children's entertainer and now owns a multi million pound turnover business called Partyman. This presentation see's James highlight some of his golden rules with a book of the same name to follow
Transcript of James Sinclair - The Millionaire Clown
- 1. James JIMBO Sinclair The Millionaire Clown The Rules for Business Mastery
- 2. MY BUSINESS Show video of Partyman and possibly the C4 documentary. 300 staff. 8 million turnover. Property.
- 3. RULE 1 You have to know your Why! You have to know your why! This builds a vision, once you have your vision you build your map. To be rich is a useless statement WHAT DOES RICH MEAN? Once you have this set out, your business then needs a why or an objective if you like. Limiting belief factors, knowing your state and making it positive and understanding that money is energy. Without knowing your WHY - why would you do it?
- 4. RULE 2 You then need goals You need 5 year goals. Yearly goals. Weekly goals. Daily goals. These all help to build your vision statement.
- 5. RULE 3 Objective, Strategy and Tactics (OST) CEO/OWNER sets the Objective. CEO/MD/Management comes up with the strategy and tactics, this can change as times goes on but the objective must remain on point until its implemented and complete - you can then start a new objective.
- 6. RULE 4 You need to know what animal you are in the world of leadership and Entrepreneurshipalso, what animals are your team? The Eagles and Lions, they have visions, these are the leaders and people want to be lead by them. Systems, operations, organisation and delegation of tasks are of upmost importance to them - even if they don't possess the skills they make this happen. They think big and make the impossible seem easily possible, they understand that they are not always right and continue to understand that the more they learn the more they earn. They have the eye, they are the top 5% of the population. THESE guys have MSI AND RESIDUAL income businesses, failure is inevitable but its planned and minimised at all costs to not bring the whole house down. They have a positive state, happy, hard working and they know that failure is an education to be better next time. The OX, work hard and achieve more than most, get stuck in, they do well. A favourite phrase of the OX is If you want a job done well, do it yourself they think big but have a disbelief that they have not got the skill sets to make it happen or they simply don't invest in personal development to become the best they can be. THEY may start a second income stream without mastering the first, i.e. as one business gains traction they start a new race without completing the first race, they lack a plan and a vision statement. they want to be Lions and Eagles soaring over and looking on the business and occasionally they do but they get sucked back to being in the business, they fear failure. 30% of business owners - with knowledge they can become lions and eagles. The Sheep, they get up eat grass and do the same, day in day out. They live in the business and don't have a plan, vision or statement. They follow the crowd and don't embrace potential. They are dream stoppers and surround themselves with dream stoppers. 60% of business owners love to blame the economy, government and the credit crunch.
- 7. RULE 5 Finding the right people Find them, work with them, develop them and above all keep them. Dont keep people that are non believers. Create a set of rules that your business lives and breathes by. Reward the right people, lose the wrong people. Delegate authority early on, it empowers and makes the vision stronger.
- 8. RULE 6 Think BIG, but all ways act small Sales before operations, when cash-flow allows let operations lead sales.(you do need to understand the fundamental difference and when to change this). Low overheads. Devil in the detail. Nimble fast approach that can pivot in and out of problems. Finish and get things done before moving on. ABOVE all you need to SELL.
- 9. RULE 7 You need to know how to raise money You need a business plan or at the very least a vision. VCs >1m or more. Bank. Angel investors for