“A dream is just a dream. A goal is a dream with a plan and a deadline.”
(Harvey Mackay)
Do you have the ‘right mindset’ for Business?
Have you ever spent a long time learning something and wondered why it has never sunk in?
If you are asked something new or something different than the norm, do you say to yourself ‘I can’t do that’ or ‘ How can I do that’?
Having the right mindset will mean the difference between failure and success. Get rid of those invisible barriers, learn along the way and just get better at what you do. You don’t need to know everything all at once.
How you look at a problem, issue or even just everyday life will determine how successful you will be as a person.
To ascertain how successful your business will be you will also need to develop your strategic business mindset. Thinking strategically will ensure business success.
Lets look at some examples of a successful business mindset.
1) What is the purpose of your business? If it is not to make money then you have to rethink your strategies and think that maybe you are building a hobby rather than a business. One way around this is to have a few businesses and ensure you have a couple of businesses concentrating on making the money and some of the other businesses are there for more the enjoyment value and your passion rather than the recompense value. (We (Nicci And Lee) have some of our businesses that are larger money earners than others, and some more fun than others!)
2) You need to ensure that your business mindset allows you to think about what you think is right, rather than what other people think is right. Your business is exactly that - your business. It is your dream, goal or destiny and only you should control that. By all means gain and even harvest advice from others (in fact this is a must) but stick by your guns when it comes to the way forward for your business. Know what you want and how you are going to get it.
3) Ensure you know the facts before you invest. You must ensure that you strategically look at propositions before you invest your time and your businesses. i.e. if you are going to an exhibition - ensure you know what your ROI is before you commit to participating.
4) Know your figures. Your business mindset should give you tools to ensure you can work with the numbers. (Or if you cant then you know someone (who you trust) who can!) You need to know your profit margins, you need to know your costs and you need to know what your profit indicators are.
5. Understanding your business plan. Look strategically into the future and don’t just concentrate on the short term or immediate future. This is sometimes easier said than done, but at least look ahead with your business brand and have some ideas about where you want to take it.
6. Have the ‘right business mindset’ when it comes to business opportunities. Once you have an open mindset and you have established your name you will find the number of opportunities that you receive are endless. Ensure you look at these opportunities and don’t just dismiss them. There may be a way of connecting with other business, JVs, or running other businesses - even just owning and someone else running them. Keep an open mind and be ready for the opportunities.
7. Have a business mindset more than an emotional mindset. Think about your intelligence versus emotional reactions when it comes to a simple decision. Always ensure that you sit on a decision that involves emotion and your business and always respond using your brain rather than any emotional attachment.
All of your business decisions should involve a business mindset and should involve strategy. Always look at the facts, look at contexts, look at opportunities favourably, look at problems favourably (you may learn or prosper from problems), and react appropriately for your business today, tomorrow and the future.
ACTION STEP
Think about how you react to certain situations. Is your reaction appropriate for a business or was it more of an emotional reaction. Think about your passion in life, and how you can create and build a business from this passion. Is this a money making business or a ‘hobby’? Can you do something else that compliments it that will make you money? Think about where you want your business / brand to go in the future? What do you envisage? Think about my mentor and idol Richard Branson and what he has achieved with his brand
