Tuesday, August 4, 2009

Energy is the capital of a practice.

I've been ranting for years about the difference between a practice and a business.

Practices (versus businesses) generally have low start up costs and continue to be funded generally from the cash-flow created in the practice i.e. you get a website when you can afford one.

Businesses on the other hand have an initial investment focus and even if you build one by Boot Strapping (low budget start up) it still takes at some point a raising of funds or capital investment to get it to the next level.

In the business model, capital investment is really important.

Because the practice model is cash flow funded, as the solopreneur, the energy you have is the principal thing that makes the capital.

Here are 5 things you could do to raise your energy:
  1. Go for a run
  2. Drink heaps of water
  3. Eat better food
  4. Choose clients that energise you
  5. Park valet parking and fly first class
Just like entrepreneurs need to protect and secure capital for their businesss, solopreneurs need to protect and secure their energy.

M@

Matt Church

3 comments:

  1. I particularly like number 4. Choose clients that energise you. Felt very lacking in energy today, but after a very productive and positive web-meeting with a client, felt far more energised to continue. Great advice - and can be extended to "Choose projects that energise you."

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  2. Matt, Tues was the first thought leaders I had been to and this concept profoundly impacted my life. It gaev words to what I knew deep inside and gave me the permission to do it. Thanks. Colin Boyd

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  3. A timely reminder to me Matt of the importance of the 6 week physical boot camp I started yesterday. I am in a world of pain now but my targeted outcome is higher energy. And one side effect of that will hopefully be more energy to grow my practice. Cheers!

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