Seven Keys By Marshall W. Northcott

Living the Dream,
Avoiding the Nightmare
Success in Business
Presented by: Marshall W.
Northcott

www.elitetrainingsystems.ca
What is the
Nightmare?
 Start-up costs for equipment, inventory etc.
 Monthly overhead – fixed operating costs.
 Ramp up time required to cover expenses.
 Lack of income – negative cash flow.
 Lack of business skills and knowledge.
 Cynical, pessimistic, bitter attitudes.
 Victimized by circumstances beyond your control.
 Impending financial failure – bankruptcy.

Question
Why did you (or why
do you want to) get
into business for
yourself?

What I Didn’t Want
 Be the boss of nothing!
 Have an open schedule that wasn’t profitable.
 Invest my time into something of no value.
 Get paid less than if I were an employee.
 Not be able to leverage my uniqueness.
 Life filled with could of, should of, would of, didn’t.
 To be controlled or forced to follow someone else.
 Forced to do business with people I didn’t want to.
 Feel like a nobody who never did anything special.

and…
I didn’t get into
business so that I
could fail!

Seven Keys
1. A Plan
2. Risks
3. Self-
Awareness
4. Elevated
Thinking
5. Mental and
Emotional
Resilience
6. Activity
7. Purpose

Key # 1
A Plan
What is a plan?
Let’s review…

A Plan
Clear written vision of where you
expect or desire things to go.
Considers every possible detail
to protect yourself and ensure
that you understand what you
are getting into and the tools,
resources and finances required
to do the job effectively.
Thinking ahead towards the
steps leading to the
accomplishment of an ultimate
goal.
Prediction of the future, with
measurable, predictable
outcomes that look at the bigger
picture.
“Plan your work for
today and every
day, then work
your plan.”
Norman Vincent
Peale

Key # 1
A Plan
Why is a plan important?
Let’s review…

A Plan
 A Plan is necessary for these reasons:
 Mental and physical preparedness.
 Reveals weaknesses, identifies potential obstacles and
challenges.
 Increased odds of more predictable outcomes and success.
 Provides direction that will give you clarity and peace of mind.
 Contingency planning – back-up plan.
 Makes you more productive and time efficient because you will
focus on what is most important.
 Spells out the steps of how you are going to accomplish your
goals with an execution plan.

Avoiding the
Nightmare
 A Plan
 No one embarks on a business
venture expecting to fail.
However, as the old saying
goes, “People don’t plan to fail,
they fail to plan” which can
often be their downfall.

Avoiding the
Nightmare
 A Plan
 “Failures are divided into
two classes -- those who
thought and never did, and
those who did and never
thought.” - John Charles
Salak

Key # 2
Risks
What are risks?
Let’s review…

Risks
 Calculated, educated
gambles.
 Chances.
 Long shots.
 Leaps of faith.
 Shot in the dark!
 Putting in all on the line.
 Your money where your
mouth is.
“Life is a risk
and reward
undertaking.”

Key # 2
Risks
Why are calculated risks
important?
Let’s review…

Risks
 Risks are necessary for these reasons:
Puts your theory to the test and proves to the
world that you believe!
Each risk taken provides a growth experience
and makes the next easier.
If you don’t try you’ll never know and you’ll
always wonder, “what if?”
Taking risks is a huge part of success in life and
in the business world.
The successful risks will drown out the doubters
and make your critics eat their words!

Avoiding the
Nightmare
 Risks
 You must allow yourself to
take risks. Seldom is
anything of significance ever
achieved that doesn’t
involve some sort of risk.

Key # 3
Self Awareness
What is self-awareness?
Let’s review…

Self-Awareness
Knowing yourself.
Understanding
your strengths.
Awareness of your
weaknesses.
Being real with
yourself.
Not rationalizing.
“Sometimes
you have to
protect
yourself
against
yourself!”

Key # 3
Self Awareness
Why is self awareness
so important?
Let’s review…

Self Awareness
 Self awareness is critical for these reasons:
Utilizing your strengths and working on and
fighting your weaknesses.
Facing your own fears and not accepting your
own excuses.
Making quality choices, ducking decoys and
temptations.
Staying focused and maintaining balance.

Avoiding the
Nightmare
 Self-Awareness
 Get real with yourself, know
who you are and what you’re
all about. Utilize your
personal strengths and
confront your weaknesses!

Key # 4
Elevated Thinking
What is elevated
thinking.
Let’s review…

Elevated Thinking
 Big picture.
 Seeing it bigger.
 Expanded mental
faculties.
 Brain power
extraordinaire!
 An inner strength.
 Problem solving
capacity.
“Your mind is
like a rubber
band, once
expanded it
will never
return to its
original
shape.”

Key # 4
Elevated Thinking
Why is elevated thinking
important?
Let’s review…

Elevated Thinking
 Elevated thinking is important because:
Elevated thinking translates into decisiveness!
Your original vision was enough to get you started but it
is probably not big enough to press you to the next level
in business.
As your business develops your need for greater
problem solving skills will have to expand because of the
new issues that will arise.
In order to successfully survive and answer the
constant demands of business, you will have to learn to
stretch your mind to it’s limits.

Albert Einstein
“You cannot
solve the significant
problems of life,
at the same
level of thinking
you were at when you
created them.”

Avoiding the
Nightmare
 Elevated Thinking
 In order to face the
inevitable challenges and
obstacles of a growing and
thriving business you must
continually raise the bar and
sharpen your mind!

Key # 5
Mental and Emotional
Resilience
What is Mental and
Emotional Resilience?
Let’s review…

Mental and Emotional Resilience
 Strength of mind.
 Logic and reason that
outweighs feelings,
sensitivities and irrational
thinking.
 High level mental pain
threshold (I can take it!).
 Differentiation between
what you want to do and
must do and doing it.
“Where will and
emotions are
in conflict, bet
on the
emotions.”

Key # 5
Mental and Emotional
Resilience
Why is mental and
emotional resilience
important?
Let’s review…

Mental and Emotional Resilience
 Mental and Emotional Resilience is necessary for
these reasons:
 Any business that is dynamic and growth oriented will
face difficulties that will test your mental faculties.
 So you can focus and use your mental energy in a
productive and profitable manner.
 To ensure you don’t fake yourself out by allowing the
emotion to overshadow logic and reason.
 Increased bounce back from disappointments and
setbacks and greater ability to handle challenges and
solve problems.
 Minimizing destructive, unhealthy stress.

Avoiding the
Nightmare
 Mental and Emotional Resilience
 Work for the best, prepare for the
worst, insulate and mentally protect
yourself against setbacks and
disappointments. Learn to think and
make decisions based on what will
move your business forward rather
than on what feels right.

Key # 6
Activity
What is activity?
Let’s review…

Activity
Productive not busy.
Rolling up your
sleeves and getting
your hands dirty.
Not doing what you
want to do but
whatever needs to be
done!
Engaging in
consistent action.
“Sometimes
you can do
all the right
things and
still not get
the right
result.”

Key # 6
Activity
Why are “the right”
activities important?
Let’s review…

Activity
Activity is important because:
Creates a habit and sets a pace.
It is your source of opportunity and revenue.
It keeps your business moving forward.
Ensures stability and financial security.
Forces you to grow as an individual.
Keeps you energized and excited!
Gives you a sense of accomplishment.
Makes you feel in control (not a victim).

Avoiding the
Nightmare
 Activity
 Do something on a regular
consistent basis that creates
a result (income) otherwise
you’re in the business of
creating debt.

Key # 7
Purpose
What is purpose?
Let’s review…

Purpose
Your passionate
why!
Your reason!
Your focus!
Your direction!
Your vision and
goals!
Your roadmap!
“When you
know why
you’ll figure
out how.”

Key # 7
Purpose
Why is your purpose so
important?
Let’s review…

Purpose
 Your purpose is the fuel that feeds you and
provides you with energy.
 It drives you to work harder, to get up earlier
and stay at it longer.
 It insulates and protects you during the
challenging and difficult times.
 Your purpose forces you beyond your comfort
zone to do what is necessary.
 It gives you the attitude you need to make
results happen!

Avoiding the
Nightmare
 Purpose
 When you have a passionate
purpose that is bigger than
any obstacle, you can
achieve the seemingly
impossible!

Cinderella Man
Know
what you
are
fighting
for!

My Reasons
Be my own boss control my destiny!
Control my life and my schedule.
Build an asset of my own.
Financial rewards.
I’m a misfit!
I didn’t want to have regrets.
To lead.
Pick my own customers.
Serve a higher calling.

Live the Dream!
1. Create a Plan
2. Take Risks!
3. Be Self-Aware!
4. Elevate Your Thinking!
5. Develop Mental Toughness!
6. Get Active, Stay Active!
7. Know Your Purpose!

For More Information
Highland Postal Outlet
75 Dundas Street N.
P.O. Box 27007
Cambridge , ON N1R 8H1
Phone: 519-624-9964
Toll Free in Canada: 866-896-6603
Email: mnorthcott@smpstrategies.com
www.marshallnorthcott.com

Seven Keys By Marshall W. Northcott

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