Do you find yourself thinking about all the bad things that could happen prior to taking action on something you know you should do? It’s only human nature to want to do everything possible to prevent a bad or disastrous outcome from happening. But what about the upside? How much time do you think about the good that will benefit your business from the action you are about to take?

I have a client who is very passionate about his business. He is excellent at his work and has managed to keep his family business from going under during the last 2 year period of decline and uncertainty. Unfortunately, he continues to resist his better judgment about launching new, well thought out and tested products because he focuses solely on what might go wrong. In the face of overwhelming reasons to launch this new product, he is paralyzed by the prospect that it will fail.

Science has done a remarkable job of mapping the brain and understanding how the subconscious mind works. In addition to controlling all bodily functions (our automatic survival system) the subconscious also controls our thoughts, behaviors, habits and viewpoints. You maybe tired of continually coming up short in your life or your business but this is what your mind knows and is comfortable with. This kind of outcome is what will play in your head over and over again until the outcome you don’t want becomes a reality.

So, how do you change things? First, commit yourself to the fact that you are not satisfied with past results and you want a different outcome in the future. This mental acknowledgement will go a long way to promoting change on your part.

Second, start looking for all the good or upside in your plans. If potential concerns exist, determine their true possibility and focus on how to reduce or eliminate them.

Third, recognize that the greatest risk to any plan or action is inaction! That’s right. More good ideas and well thought out plans fail because the business owner never takes action at all. In fact, it’s been well documented that over 90% of the things people worry about, never actually happen.

Finally, map out your plan from start to finish. Look at the steps you plan to take and challenge yourself to find all the holes. Then focus on plugging the holes so you can put your plan into action. Consider getting help from someone outside your business that can see things more objectively and assist in making your plan as tight as possible.

There’s an old saying from football that goes like this: No Pain, No Gain. Once you realize that much of the pain is in your head, you can free yourself to move forward and take the action you need to get the results you want.

Originally posted 2010-07-16 07:50:37. Republished by Blog Post Promoter

How’s your mindset right now?  Do you see your future as a glass half empty or a glass half full?  Is your mind a portal to what you want from your business or a reminder of what you have not been able to accomplish?

2011 has been brutal for many small business owners and a real challenge for just about everyone who has to earn their own way in business.  And while we all tend to rely on the more tangible of business building resources; money, time, know-how, plans and support to name a few, the biggest asset any of us has is our ability to control our mindset. 

Your mindset influences your thinking, your perceptions, your beliefs and behaviors.  It’s the little voice in the back of your head that seems to have an opinion on everything you do or want to do that determines how you feel about your current situation.  As a small business advisor, I frequently encounter small business owners that are questioning their ability to move forward and figure out how to do business in a market that has thrown out all the rules to the game.

The reality is; we have a tough economic situation.  Many businesses will not survive this protracted belt tightening because they could not see a successful outcome.  It’s difficult to watch fellow business owners fade away, especially if they were enjoying robust growth a few years ago.  The fact is, some businesses will survive and even grow stronger once the marketplace returns.  Will you be among the ones who dominate their markets in 2010?

Right now, I’m watching the Biggest Loser.  There are some unbelievable accomplishments from people who were so disparaged, they had lost all hope.  What they all have in common is they reached out and learned how to improve their mental and physical situations.  They got the support and accountability to stay the course until the results came.  They believed in what they once were unable to see.  This same transformation can happen for business owners and is being enjoyed by the clients of my business coaching program.

The difficult part of creating a successful business mindset is learning how to control the automatic negative thoughts that are triggered whenever you expose yourself to something that your subconscious mind has remembered from the past.  It can happen without warning.  Suddenly, the little voice becomes a chorus!  Your head may become light.  You might even experience physical disorientations.  This is your mind trying to protect you from an experience it recognizes from your past.

Take a look around you.  What are you watching and reading?  Who are you listening too?  Do you have the support and encouragement to push through it or are you letting the ‘little voice’ remind you of what your past has produced?

Getting control of your thought patterns and overcoming the limiting beliefs that tend to keep you in a holding pattern is the greatest benefit you can give yourself.  A positive mindset will enable you to get much greater returns out of just about everything you do or invest money in.  It’s the best friend you’ll ever have!

Having a successful business mindset starts with changing your thinking and connecting with your passion for the business you work so hard to grow.  If you think you can, amazing things can happen.  If you think you can’t, you are already there.

Originally posted 2010-04-07 21:10:02. Republished by Blog Post Promoter

Ever thought about why you started your business?  Was it a family operation and you were the next in line to take the helm?  Or maybe the idea that starting your empire was burning inside you as a young person and you were encouraged to follow your dreams?  Maybe it started as a hobby and some well meaning family member talked you into turning ‘your spare time love’ into a going concern.  Whatever the reason, you now have the ultimate responsibility for producing your own paycheck, possibly a payroll and hopefully the profit needed to develop your business into something that will help you achieve your future financial goals. 

So was it a good business decision?  All you wanted was the opportunity to do it your way, right?  Just a little slice of that American dream you heard so much about.  No one told you about all the things you would have to know and do? (government regulations, IRS rules, accounting details and employee problems to say nothing of competition and market changes).  It’s enough to make you want to go back to work for someone else- well maybe not! 

Seventy percent of all jobs in this country are created by small businesses.  And yet, over 60% of small businesses go out of business within 4 years of operation.  By year 5, the closure rate has climbed to 85%!  Can you image what it’s like now after 3 years of recessionary cloud cover!

 The fact is the reason most people start or own their own businesses is contrary to what it takes to run a successful business.  Want to see how this works?  Ask yourself 3 questions:  I call it the ‘Why’ factor.

1.  Why did you decide to start this business?

2.  Why do you run this business the way you do?

3.  Why should customers buy what you have to sell?

Answers could vary widely but should fall into 2 groups; inside answers and outside answers.

Inside answers are responses directed towards your internal needs; your income, your idea, your business, your way, etc.  Answers like these suggest that your main reason for having a business is largely self-serving.  As long as you’re happy, the rest of the world can take it or leave it.  I was going to say ‘eat cake’ but that expression may not be recognizable to most people today.

Outside answers suggest your motives are directed towards something larger and more important than yourself; filling a consumer need, providing for an under-served segment of the population or following a passion to make other’s lives easier or more convenient.  Having a desire to support something greater than you can be a powerful motivator and commitment to succeed.

 

Take a look at some examples:

 Question #1:  Why did you decide to start this business?

Inside answer:  I couldn’t find a job and I needed to make some money.

Outside answer:  My friends and acquaintances keep asking me to provide (X) because they say they can’t find anyone who can do this.

Observation:  There is certainly more to evaluating the long term success of a business idea or your own personal skill at doing what others can’t find anywhere else.  If you charged your friends the going rate for your service, would they still ask?  Is the market viable; meaning is there enough of a market to build a business on?  Finally, do you like providing this thing you do to such an extent that you could do it all the time, everyday, all year long?

 

Question #2:   Why do you run this business the way you do?

Inside answer:  It’s convenient for me to operate this way and it doesn’t get in the way of my daily routine.

Outside answer:  I started quite differently but I kept listening to my customers and they told me what was best for them.

Observation:  As a small business owner, your number 1 role is to grow your new found business until it meets or exceeds all the goals you have for it- revenue, income, size, staff, facility, client count, equity value so you can eventually sell it.  Unless you want part time results, you’ll need to think about how to make your routine work with your business.  Good customers will be patient but not if they think you are not committed to their needs.

 

Question #3:  Why should customers buy what you have to sell?

Inside answer:  Everyone needs this.  I should have no trouble getting everyone I know to buy this!

Outside answer:  I’ve looked at how my competition delivers this service and I can add lots of value to my service so people will see the difference.

Observation:  This is the big question many new business owners never think about.  If you doubt me, ask someone at your next networking function why their product is different than other providers and see what response you get.  Consulmers have more choices about where they get products and services from than ever before so you must be able to demonstrate (and communicate) your value to prospective customers immediately.

 

Now try this yourself.  See what your responses are to these questions.  The answers will tell you allot about your motives and your eventual success.  To be sure, there are always exceptions to every trend, rule or best practice.  Are you the rare exception or are you one of the 60%+ who will be working for someone else within 4 years of your new venture’s birth?

Here’s my point.  Find a very successful business owner and you’re sure to find out that the thing that drove their success was the passion, the desire or the need to serve someone else.  If you keep this thought in mind and go back and ask yourself the three questions above, how different would the answers be?

Food for thought.  Cake, if you’re feeling nostalgic!

 

Additional resources to help you with this topic:

If you are on your way in your business but are concerned about what might be missing in your approach and want to find out from a professional coach who can give you some objective, candid feedback about what to do, visit my site at http://www.growthsourcecoaching.com/Need-Answers-Ask-Steve.html and ask your question.  I’ll give you some insights and ideas that will help you make better decisions and be able to move forward.

Originally posted 2011-10-03 09:04:40. Republished by Blog Post Promoter