In the last post, I told you that Key Component #1 in building a successful BNB Management Company is to know your niche.

Why is this step #1?

Because most people today are so focused on the tactical that they step right of the strategic and the fundamentals.

Blame it on pop culture, impatience, whatever you want. Building a business requires patience and it requires your to lay a strong foundation and not step over the basics.

In the next post, with Key Component #3 we’ll be diving more into tactics.

Despite often being overlooked however, I can assure you that Component #2 is equally (if not more) valuable.

I love the word foundation because it paints a really clear picture of importance.

Skip building a strong foundation on your house and you’ll wake up one day without much house to speak of.

Building a business is no different, just your foundation isn’t made of concrete and rebar. Instead, your foundation is made up of your goals, your framework, and your mindset.

Without clearly defined goals, your business is sure to perish.

Starting your business without goals is like sailing away from the harbor with no idea where you’re headed. In no time at all you’ll be lost at sea and soon after that you’ll starve and drown.

Simply put: you need to have a goal. You need to know where you’re going and why you’re going there. Without that, your business is as good as failed.

Your framework is essentially your “compass”.

That is, how exactly do you go about executing on your goals.

Sure, you want to get to $10k/mo. But how are you actually going to go about getting there? How are you going to conduct yourself and your business? What non-negotiables need to exist in order to ensure that you don’t fizzle out or get taken out by competition? Lastly (and by far most importantly) is your mindset.

Without the right mindset, nothing else matters.

In business and in life, nothing could possibly be more true and unfortunately, this is the one that most often gets overlooked.

Put the hippy comments aside and really ask yourself how on earth you plan to be successful when some little asshole is telling you “you can’t do it” every hour of every day.

What you think is what you think about.

Your beliefs create your actions and your actions create your results.

Fail to change your beliefs and you’ll never change your results. Simple as that. It’s not your fault if you have doubts and fears, but that doesn’t mean that they’re there to stay.

If you’re gonna be successful and make something happen, you first need to believe it.

What’s Component #3?

Client Conversion.

The Art and Science of how to get someone you hand over the keys and give you the reigns (and also the money of course).

You don’t wanna miss it!

It’s a beautiful life!

James