I Don’t Want My Business To Fail
If you want to start your business correctly, one of the first things you must do is to start seeing the world from the top down, from an entrepreneur’s perspective, rather than from the bottom up, from an employee’s perspective. In this post, we’ll discuss the number one reason most new entrepreneurs fail and how you can avoid that from happening to you.
There’s nothing wrong with being an expert in your craft. There’s only something wrong with being an expert craftsperson who owns a business without changing his/her mindset from being an employee to operating as an entrepreneur. You are so used to working in somebody else’s business, but now, you have to start thinking about working on your own.
So, as an entrepreneur, you must think organizationally. Start thinking about the strategic work, the implementation of systems that will lead your business forward, so you can live the dream you’ve envisioned. Entrepreneurs are always thinking about growth and income.
The number one reason most new entrepreneurs fail is because they don’t have fundamental systems in place and no written plan to work with. Most entrepreneurs and small businesses are losing money or even failing because they focus on tactical methods to grow their business with no form of strategy in place.
If you want to have a viable business, you must be able to make growth systematic and predictable.
You need to think of a business as a series of systems that will lead to growth. The best companies have formulas for making their growth systematic and predictable. They have a very clear understanding of what those factors are that will allow them to grow.
Growth shouldn’t feel random or like a mystery. It SHOULD be predictable and systematic. That sounds nice, but when you’re caught in the weeds of growing your business and you’re not sure of which way is up, how do you get there? By following a systematic approach to experimenting and finding the things that are going to lead to growth.
You should always have a Strategic Plan in place before utilizing any kind of tactic.
What we have found is that anytime you are too focused on the tactical, your business suffers.
If you don’t have the bigger picture or the strategic concepts and approach in mind, then all of the tactics are just kind of noise, and for the most part, just distractions.
There is too much random behavior in the entrepreneurial world, in terms of trying to figure out how to grow their business. Whatever hot new idea happens to enter their head that morning tends to be the thing that they’re running with, without any specific objectives or measurability about whether that worked or not.
That is no way to run a business.
That’s why you have a lot of entrepreneurs taking their business all over the place; zig-zagging up and down on a crazy rollercoaster.
That comes from the wavering mindset of the entrepreneur where they are unclear about the vision of their business, or even who they are as a business.
If you have clarity on what your business is all about and where you are going with your business, then you’ll immediately be able to quiet and calm your soul to tune out so many of those things which are a distraction.
You’ll be able to check them and say to yourself, “does that fit into the overall vision–based framework that I have for my business?” And if it doesn’t, it may be something you can use down the road, but it’s not something that should consume your time and resources at this time.
This is when you bring control to your soul and allow patience to have its perfect work so you can be clear on what your business is all about.
When you have that clarity and patience, you can drive your business forward from a strategic level, all the way down to a tactical level with the clarity and focus that you desire. And, when you have those levels clear and documented:
It gives employees, partners, shareholders and customers the same clarity
This is so important because, if you’re trying to grow a business beyond just making a quick buck or a decent income for yourself and trying to build something more meaningful, what your business is about becomes more important than what you’re selling.
Everybody wants to know what your business is about; your customers, shareholders, employees.
The best employees; the best people will not go to work for a company unless they know what that company is all about: what’s the vision for it, what’s the mission behind it, does that excite me, is it congruent with what I believe personally?
That’s what top people want to know before they go to work for any company. It’s the same thing with customers and shareholders as well. That’s why companies like Nike and Starbucks have very clear visions and missions, and they use those as a way to keep and attract the right people at all levels of their business and organization.
That’s what you want to do for you and your business as well.
You may think, “oh, if I could only make a buck first, then I’ll turn my attention to these things,” it’s exactly the opposite! You want to have a very clear purpose, vision and mission first and get clear on them, then making a buck will come much easier.
If you really want to succeed, then you must go through a Metamorphosis Of The Mind and wean your soul from operating from the slavery of ingrained habits of your old way of doing things and change to a new productive system.