In the world of business, many sayings exist to describe how successful an organization is. One of the best methods for describing businesses comes from Joe Polish, the founder of Genius Network.
By using the terms “HALF” and “ELF,” Mr. Polish is able to effectively describe two different types of businesses. To find out what these terms mean, and which one best describes your business, keep reading.
HALF vs ELF
In Joe Polish’s descriptions of businesses, the HALF model stands for Hard, Annoying, Lame, and Frustrating. Conversely, the ELF model means Easy, Lucrative, and Fun. Just looking at these two terms, it is pretty easy to tell which business you want to be.
To help you better determine what type of business you are presently, let’s explore a few ideas. Soon, you will see why this practice is such a valuable tool to be used in your decision-making.
Always Perform the HALF vs ELF Analysis Before Starting a new Endeavor
If you are a new entrepreneur, you can attest to how easy it is to get excited about a new business opportunity. Most of the time, it looks amazing on the outside looking in. But if you take a moment to perform the HALF vs ELF analysis, you may find that the seemingly amazing business opportunity isn’t worth the hassle.
When you become crystal clear on which term makes up the business, you can more easily determine whether it’s a good idea. Will it be easy? Will it be lucrative? Will it be fun? If you can’t answer yes to these questions but answer yes to the same questions applied to the HALF term, you know it’s time to move on.
Applying HALF vs ELF in Everything
When you apply HALF vs ELF in everything you do, you have a much better chance of making the right decision. It is important that you take the time to utilize this analysis before venturing out into uncharted waters.
HALF vs ELF affords you the opportunity to take a step back and truly consider all that you could be getting into. And the great thing is, this doesn’t necessarily have to apply to just the business world.
Perhaps you are considering buying a new car or home. Maybe you have been asked to loan money to a family member or friend. By using the HALF vs ELF model, you can ask yourself important questions to see whether you are making a smart decision.
Joe Polish came up with a real winner when he created the HALF vs ELF analysis. It’s a simple yet highly effective tool that you can use again and again in your life. With practice, you may find it becoming almost second nature.
And in doing so, you may find your life a little easier, more lucrative, and fun as you make decisions that keep you in ELF mode in all aspects of your life.