The Entrepreneur's Paradox - Curtis Morley

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Neglect

      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

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