One quick promo before we jump in:

I'm hosting 3 free online workshops over the next few weeks.

Next Tuesday I'm doing one on DELEGATION AND HIRING with Shaan Puri. We've hired over 500 people between us and we'll talk about how we lead others, recruit them, hire them and manage them.

​Click here to sign up - people who sign up will get the recording after.

On May 6th I'm hosting a workshop on RANKING YOUR BUSINESS ON GOOGLE with SEO specialists Simon Purdon and Barrett O'Neill. If you want more customers, make sure to attend. Click here to sign up.​

On the same day I'm hosting a workshop on REAL ESTATE TAX. If you own or buy real estate and want to learn about the tremendous tax advantages, join us! Click here to register.

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Emotions, Risk and Business

Lets talk about emotions, risk and business.

They mix like oil and water.

Emotions like greed, fear, anger and sadness cloud our decision making and form a trap when it comes to business and decision making.

We're making decisions all day, every day.

How much do I pay this employee? How much do I invest here? How much bank debt should I utilize on this acquisition? How risky is this deal and how likely is it to happen?

Emotions can lead us to INCORRECTLY weight factors when making these key decisions.

Greed will lead is to take more risk than we realize and potentially lose it all.

Fear will lead to us selling out at the bottom of the market.

Anger will lead us to say something we can't take back and damage a relationship with a key employee.

All of these mistakes can be incredibly expensive mistakes. The most important being our inability to properly assess risk.

Risk involves identifying and assessing FOUR key things:

1. The event that might set us back
2. The likelihood of that event happening
3. The potential damage that it would cause if it happens
4. How much control I have over that event happening

Incredibly difficult to do because we don't know what we don't know and we also know a lot of things that we don't know.

Greed, fear, anger, ego and any number of other emotions can CLOUD our ability to properly assess these risk factors and lead us to making poor decisions.

This stuff is incredibly difficult. Everyone gets it wrong. Nobody can predict the future. Nobody can control all external factors. Business is nuanced.

So what can you do to help?

The best solution:

Surround yourself with smart people who aren't YES MEN.

It is tempting (especially as you gain more success) to surround yourself with people who agree with you on everything.

Don't do this.

I encourage the leaders of all of my companies to stand up and call me out if they see a potential issue. If they see a blindspot. Or if they flat out disagree with the direction we are heading.

The CFO at my self storage company pulled this card on me in 2022. He went on vacation and left me to underwrite a few deals we had in the pipeline.

I really liked one deal and made an aggressive offer ($5 million).

He got back and stood up to me and made us back out of the contract. And it was the best decision we could have made (it was overvalued for a few reasons I didn't properly identify). It saved us a lot of headache and money in the future because he had a different (and correct) view of the 4 things that impact risk discussed above.

It was a learning experience for me.

Surround yourself with smart people who aren't afraid to challenge you and watch your world open up.

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"Few things are worse than running in the wrong direction enthusiastically." - Keith Cunningham

How do you know if you are truly working on the right things?

I answer in this short podcast episode.

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Nick Huber @sweatystartup There is a proven playbook to grow companies. What tools to use, agencies to hire, strategies to employ. Well here is my exact 12 step plan and my exact strategy for supercharging a business: #1 - New logo with 99 designs. It costs $299 and is good enough for me. #2 - New… https://twitter.com/i/web/status/1759594157377495247 10:1 AM • Feb 19, 2024 130 Retweets 1297 Likes Read 82 replies

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Nick Huber @sweatystartup I’ve had a lot of opportunity and have done well. One thing is for certain: I got lucky. There are a lot of people who are smarter than me, have made better decisions than me, & work harder than me… But haven’t done as well. Luck is a huge part of this game we all play. 9:0 PM • Apr 8, 2024 15 Retweets 232 Likes Read 44 replies

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Nick Huber @sweatystartup I'm hosting a free workshop on the most important skill in business: Hiring and Delegation Join Shaan Puri and I on Tuesday April 16. If you register, you will be sent the recording. https://lu.ma/cnedrtzk lu.ma Delegation 101 with Nick Huber & Shaan Puri ·... Nick Huber and Shaan Puri have hired over 500 employees between them and are exp... 3:27 PM • Apr 3, 2024 1 Retweets 14 Likes Read 1 replies

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This is one of the best (and most educational) tweets I read this week:

Melanie Baldridge @recostseg If you want to be a real estate pro, you need to understand the TERMS: Here are a few definitions that you absolutely must know. Bookmark this thread and use it as your cheat sheet for 2024. Okay, let’s dive in: 12:24 PM • Apr 8, 2024 18 Retweets 225 Likes Read 3 replies

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Onward and upward,

Nick Huber

P.S.

When SEO works, it really works.

I'm proud of the team at Bold SEO and it's been awesome to see what we're doing for small businesses.

Selfishly, it's also been great to see what they are doing for my own businesses.

Below is a screenshot of a text that Barrett (my partner at Bold) got from one of Bold's clients.

If customers find you via Google search or Google Maps, a link building strategy can work wonders for you. You don't need to use Bold, but use somebody to build links for your business!

If you'd like to learn more about why Link Building is important, read this. You can check your own domain authority vs your competitors with this tool.