Have you thought this? “If I knew then what I know now, I would have done things very differently.” Most of us have and yes, we can learn from our past, we can benefit from the experience of decisions made. However it’s how we apply what we’ve learned that is the key. This is not about theoretical application; this is ‘living’ what we’ve learned, and experiencing the true benefit of the knowledge.
My coaching business has afforded me the opportunity to see businesses and business owners at their best, their worst, and virtually everything in between. It isn’t always pretty or neat and tidy, it’s real, and it’s life. No two situations are the same, however, the obstacles are very similar. There may be a difference in size, shape and show up in the least expected places!
Give yourself the gift of learning from those who have gone before you. Be aware of these obstacles and, should it be necessary, apply the fix. It will save you a great deal of pain, anguish and teeth gnashing – and dare we mention wrinkles, frown lines and the stress factor that seems to accelerate the aging process?
1. The Obstacle: I can do it all
The prevalence of this thinking is staggering and so perplexing because we logically, rationally, and experientially know we can’t do it all – we’re not great at everything. This unrealistic attitude is not a solid foundation on which to build or expand a business. Forcing ourselves to function in an area that we are not well suited, or trained, is inviting this obstacle to interfere with our business success.
The Solution: Know your strengths
Each and every one of us is exceptional when we engage our strengths; those activities that come easily to us. That is where you want to reside. The key is to be realistic about what you can and can’t do.
2. The Obstacle: Not having a business plan
The world is full of great ideas…..and great ideas are not enough! Unfortunately, many businesses have failed because there was not a written plan. The concept of “It’s in my head.” is not going to attract investors, provide measurable benchmarks, nor impress the banker when applying for a credit line.
The Solution: Write a business plan
A detailed business plan keeps you on the road to success, provides you with clearly defined goals, objectives, financial projections and most importantly, a means for you to track your progress. It doesn’t have to be lengthy, complicated, nor costly. There are many websites currently offering free business plans. Spend an afternoon, or even one day writing your plan. Your business success is worth the investment of one day.
Next week I will reveal questions 3 through 5. You won’t want to miss these so check back next week!