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Holi-Plagues | A Business Owner's Guide for Avoid the Self-Inflicted Poverty Caused By the Holi-Plagues + Proverbs 6:10-12 + Join Tim Tebow At Clay Clark's 2-Day Interactive Business Growth Workshop

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November 19, 2024

TLDR: Learn branding, marketing, SEO, sales, workflow design & account basics at Clay Clark's December 5th-6th, 2024 business workshop featuring Tim Tebow. Request tickets or view testimonials at www.ThrivetimeShow.com.

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In this episode of the Thrive Time Show podcast, Clay Clark delves into a critical issue facing small business owners, which he dubs the "Holi-Plagues." These are periods where self-employed individuals impose financial strain on themselves by prioritizing breaks and holidays over business stability and growth. Here’s a concise summary of the key points covered in this enlightening episode.

Understanding the Holi-Plagues

What are the Holi-Plagues?

  • The term “Holi-Plagues” refers to the self-imposed cash flow issues experienced by small business owners during holiday seasons.
  • Business owners often act like salaried employees, taking off significant amounts of time, which directly impacts their income.
  • Common periods of these plagues include:
    • The week of Thanksgiving
    • Fall and Spring breaks
    • The entire month of December

Consequences of the Holi-Plagues

  • As business owners take excessive time off, they face reduced income while their spending habits increase due to holiday expenses.
  • This behavior leads to unsustainable business practices and can result in long-term financial struggles.

The Importance of Consistency in Business

Case Studies: Successful Businesses

  • Clay shares his experiences with Elephant in the Room, where they close for Sundays to provide employees the day off while maintaining profitability.
  • He contrasts this with small businesses that struggle financially because of their holiday breaks, missing opportunities to serve customers who are still active and looking for services.

Lessons from Major Corporations

  • Major brands like Starbucks and McDonald's remain open during holidays, capitalizing on consumer spending and proving the importance of consistent operation.
  • These brands’ success showcases the need for small businesses to remain operational during peak shopping seasons to boost revenues.

Avoiding the Poverty Mindset

The Dangers of ‘Deservism’

  • Many small business owners fall into the trap of feeling entitled to breaks simply because they are hard workers, a mindset called "Deservism."
  • Clay emphasizes that profitability and success should warrant personal time off rather than the default assumption of taking breaks based on others’ schedules.
  • He contrasts the mindset of a successful business owner versus those who struggle, pointing out that only a small percentage succeed long term due to adherence to ineffective business practices.

Practical Steps to Avoid Holi-Plagues

  • Stay open for business, even during the holidays, to serve existing customers.
  • Set clear policies for breaks that do not sacrifice profitability.
  • Focus on building systems that allow the business to run efficiently without always requiring the owner’s presence.

Conclusion

In summary, the episode highlights the crucial concept of maintaining continuous operation during potentially profitable periods while avoiding the self-imposed financial limitations of the Holi-Plagues. Clay Clark urges business owners to adopt a mindset of consistency and revenue generation, especially during holiday seasons, to ensure long-term stability and success for their businesses.

Key Takeaways:

  • Avoid Excessive Time Off: Recognize that while holidays are important, they should not come at the cost of business profitability.
  • Embrace Consistency: Learn from successful brands by keeping operations open, even in peak holiday seasons.
  • Shift Perspectives: Combat the entitlement mindset (Deservism) and focus on the realities of running a profitable business, prioritizing sustaining revenue over default breaks.

For every small business, recognizing and addressing the Holi-Plagues can spell the difference between thriving and merely surviving in the competitive market.

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