Tag: business tips

For Greater Business Success, Change Your Actions

Have-Smart-Business-Actions-600x319 For Greater Business Success, Change Your Actions

For Greater Business Success, Change Your Actions

In previous articles, I described how to acquire a STRONG POSITIVE BUSINESS MIND, MINDSET and a STRONG POSITIVE ATTITUDE and I described how to use the POWER OF THOUGHT and SMART BUSINESS THINKING to make your thinking more creative.

A strong business mind and smart business thinking jointly will combine to make your ACTIONS within your business become MUCH BETTER.

RELATED POST: HAVE A STRONG POSITIVE MINDSET, FOR GREATER BUSINESS SUCCESS

RELATED POST: FOR GREATER BUSINESS SUCCESS, CHANGE YOUR THINKING.

This is why the top 10% most successful entrepreneurs achieve far greater BUSINESS SUCCESS than the other 90%.

They have SMART BUSINESS ACTIONS.

These SMART BUSINESS ACTIONS then deliver results that add CUSTOMER NUMBERS, SALES and PROFITS etc. over time to their businesses thus creating huge BUSINESS SUCCESS.

But because the top 10% entrepreneurs have spent QUALITY TIME on QUALITY SMART BUSINESS THINKING, most, if not all, of their ACTIONS are RIGHT for their businesses and their actions deliver the RIGHT RESULTS for their businesses.

They have become one of the most successful entrepreneurs by changing their actions.

 

The Smart Business Actions Are Innovative & Creative

The SMART BUSINESS THINKING of the top 10% entrepreneurs is CREATIVE and INNOVATIVE which means that their SMART BUSINESS ACTIONS are also CREATIVE and INNOVATIVE, too.

Their SMART BUSINESS ACTIONS will always be focused on their CUSTOMER with the aim of continually creating ways to build and maintain an army of loyal and happy customers, who always want to buy their products, keeping them ahead of the competition.

 

The Top 10% Entrepreneurs Make Decisions

The top 10% of the most successful entrepreneurs make DECISIONS very quickly and they always attach GOALS to each DECISION and create a STRATEGY for implementation. By doing so, each DECISION is EXECUTED QUICKLY and in the RIGHT WAY.

 

The Top 10% Entrepreneurs Are Achievers & Don’t Procrastinate

Once the top 10% entrepreneurs make a DECISION, it is implemented –  they work with URGENCY and don’t DELAY or PROCRASTINATE as they know DELAY is MONEY.

 

The Top 10% Entrepreneurs Always Measure Progress

The top 10% entrepreneurs always MONITOR and MEASURE PROGRESS with all their SMART BUSINESS ACTIONS. If things are not progressing RIGHT in accordance with their STRATEGY, they are never afraid or slow to change or modify the strategy.

 

The Top 10% Entrepreneurs Are Always More Organized

The top 10% are always MORE ORGANIZED in their lives and their businesses and this leads to greater EFFICIENCY & EFFECTIVENESS. This means that they can achieve MUCH MORE with less effort and in less time than one of the 90%.

 

The Top 10% Entrepreneurs Are Usually Less Stressed And More Happy

As a result of being more ORGANIZED and more EFFICIENT, generally the top 10% of the most successful entrepreneurs are less STRESSED and are more HAPPY;  and this is important –  STRESS and UNHAPPINESS can affect your health significantly.  Also HAPPY businesses always trade better and if the boss is happy, then so should the rest of the business be happy, too!

 

The Top 10% Entrepreneurs Always Have Clear Strategies

The top 10% most successful entrepreneurs always create clear and precise STRATEGIES for the major parts of their businesses:-

  • UNDERSTANDING THEIR CUSTOMERS & THEIR NEEDS
  • CREATING THE RIGHT PRODUCTS
  • SELLING THEIR PRODUCTS
  • CREATING GREAT CUSTOMER SATISFACTION & EXPERIENCES
  • COMPETING AGAINST THEIR COMPETITORS
  • CREATING PROFITS & CASH-FLOW
  • MARKETING THE BUSINESS AND THE BRAND
  • HIRING & TRAINING OF STAFF
  • RUNNING THE BUSINESS

For each STRATEGY, OBJECTIVES will be set as part of their business plan and these will be achieved by the setting and achieving of several GOALS.

 

The Top 10% Entrepreneurs Research, Understand, Think, Plan & Act

The Top 10% most successful entrepreneurs always RESEARCH everything within their businesses and this leads to a SUPREME UNDERSTANDING of their businesses. Then, through SMART BUSINESS THINKING and SMART PLANNING and the setting of SMART STRATEGIES, they are able to execute SMART BUSINESS ACTIONS.

I call this RUTPA, an acronym for:-

  • RESEARCH
  • UNDERSTAND
  • THINK
  • PLAN
  • ACT

RUTPA is a big part of every successful entrepreneurs arsenal and a big contributor to their BUSINESS SUCCESS and YOU should do the same.

Have-Smart-Business-Actions-600x319 For Greater Business Success, Change Your Actions

 

This Is A Rough Snapshot

This is a rough snap-shot into how effective SMART BUSINESS ACTIONS can be for driving BUSINESS SUCCESS.

But, it is important to realize that ACTIONS will only be SMART as a result of having acquired a STRONG POSITIVE BUSINESS MIND and a STRONG POSITIVE ATTITUDE and from using the POWER OF THOUGHT and SMART BUSINESS THINKING.

Generally the stronger your BUSINESS MIND and the better your SMART BUSINESS THINKING and the more time that you can devote to it, the better your SMART BUSINESS ACTIONS will be, the the better your business will trade and the greater your business success will be.

Have a STRONG BUSINESS MIND, SMART BUSINESS THINKING and SMART BUSINESS ACTIONS and YOU should over time be able to boost your BUSINESS SUCCESS and enter the ‘10% CLUB’ – the 10% of most successful entrepreneurs.

In short, you should become one of the most successful entrepreneurs.

 

There Is Plenty More On This Site

There is plenty more on this site regarding SMART BUSINESS ACTIONS.

If you wish to discuss this article further with me, please email me at Robert@prestigebusinesscoaching.co.uk or contact me here:

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Have Full Control Of Your Business For Success

 YOU-MUST-HAVE-FULL-CONTROL-2-600x319 Have Full Control Of Your Business For Success

You Must Have Full Control Of Your Business For Success

Business Success Comes From Control Of Each Part Of Your Business.

But Do You Only Focus On The Parts That Interest You Most?

You must have full CONTROL of your business for success.

The very best in business and the most successful in business always have TOTAL and FULL CONTROL over every part and every aspect of their business.

And, that CONTROL allows them to be VERY SUCCESSFUL.

Only 10% of businesses are successful and make it into what I call the ‘10% CLUB’  –  if YOU are to make it into the ‘10% CLUB’ – you need to replicate the ways that they achieve success.

FULL CONTROL OF YOUR BUSINESS FOR SUCCESS is one aspect to look at.

 

RELATED POST: HOW TO BECOME A MEMBER OF THE ‘10% CLUB’

 Become-One-Of-The-10-Most-Success-In-Business Have Full Control Of Your Business For Success

Many Entrepreneurs Struggle With Control

But many entrepreneurs running small and medium sized businesses struggle to achieve TOTAL and ABSOLUTE CONTROL.

Many entrepreneurs start because they have a PASSION for a particular product and, this is where their FOCUS lies.

 

Entrepreneurs Have Full Focus On The Parts That Interest Them Most

They develop great PRODUCTS but often their FULL FOCUS stops there.

They seem to forget that a business comprises MANY PARTS and the PRODUCTS are just ONE of those PARTS.  They forget that the other PARTS must RUN very efficiently to support the SALE of those PRODUCTS.

 

They Have Less Focus On Other Parts

They have LESS FOCUS on these other PARTS, often, because they don’t find these PARTS so interesting or these parts of their business take them outside their COMFORT ZONES.

For business success. you cannot ‘cherry-pick’ what you do and don’t do.

 

Often The Back Office Receives Less Focus

One BIG PART that often receives LESS FOCUS is the BACK OFFICE and the necessary PAPERWORK that is associated with it.

This is something that many people seem to struggle with –  they simply don’t enjoy it and they would rather put their efforts into the PARTS that they enjoy.

 

Each Business Can Be Divided Into 7 Parts

Each small and medium sized business can be divided generally into the following SEVEN GENERAL PARTS:-

  1. CUSTOMERS
  2. PRODUCTS
  3. MONEY
  4. MARKETING, BRANDING & SELLING
  5. CUSTOMER SERVICE
  6. BUSINESS RUNNING & BACK OFFICE
  7. EMPLOYMENT

Every business has ALL of the above, unless YOU have NO EMPLOYEES.

 

Every Part Of Your Business Has Equal Importance

Every PART is as important as the other PARTS within the business.

If YOU are to OPTIMIZE your BUSINESS SUCCESS and your BUSINESS PROFIT every PART must be RUN to its BEST  –  If ONE PART is run LESS WELL, then this will affect the WHOLE BUSINESS.

 

You Must Put Full Focus Into Each Part

As a business owner, YOU must THINK that YOU must put equal FOCUS into each PART of your business and YOU must make sure that each PART is run as well as YOU can possibly RUN it.

 

Run Each Part Of Business Well For Full Control

When YOU achieve that, YOU will have FULL CONTROL of your business.

YOU must THINK that FULL CONTROL is needed for the SUCCESS of your business and YOU will only achieve FULL CONTROL by CONTROLLING EACH PART of your business, NOT just some of the parts.

BY CONTROLLING EACH PART, YOU ACHIEVE TOTAL CONTROL.

 

Think To Divide Your Business Into 7 Parts

The place to start with attaining FULL CONTROL is to THINK about the SEVEN PARTS of your business and analyze EACH PART and estimate how well each part is RUN.

YOU should be very critical of EACH PART and see where your STRENGTHS and WEAKNESSES are and YOU must correct the WEAKNESSES of each PART.

 

You Must Have All Seven Parts Running To Their Best

When YOU have ALL SEVEN PARTS RUNNING to their BEST, then YOU will have FULL CONTROL and, once this is in place, YOU must make sure that YOU retain this CONTROL.

 

Poor Control Can Lead To Failure

Poor CONTROL of your business can lead to FAILURE in the most severe of cases, so ACT now, before it becomes too serious and too late.

YOU-MUST-HAVE-FULL-CONTROL-2-600x319 Have Full Control Of Your Business For Success

 

Start Today, Have Full Control Of Your Business

Do it now, today – start to think about your 7 business parts and take back CONTROL OF YOUR BUSINESS.

 

Have Smart Business Thinking & Smart Business Actions In Your Business

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

If you wish to discuss this article with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment below.

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Do Your Products Provide The Right Customer Benefits?

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

Do Your Products Provide The Right Customer Benefits?

Do your products give your customers the real help that they want and need?

Do your products improve the lives of your customers?

Do your products match the needs and wants of your target customers?

Your CUSTOMERS will buy your PRODUCTS because they want the BENEFITS and HELP that these will provide;  if every entrepreneur provided the right customer benefits, sales and business profits would be boosted.
When I talk to business people, I am often conscious that they don’t THINK ENOUGH about the BENEFITS their PRODUCTS provide for their CUSTOMERS. I have talked about the top 10% businesses many times on this site and much of their SUCCESS is because they THINK ‘BENEFITS’ when they THINK about their PRODUCTS.
If YOU can do the same and THINK about the BENEFITS that your PRODUCTS will provide to your CUSTOMERS when YOU PLAN YOUR PRODUCTS, it should make YOU create or provide BETTER PRODUCTS that MATCH your CUSTOMER’S NEEDS BETTER. I have talked about MATCHING before, saying that YOU SHOULD MATCH YOUR PRODUCTS TO YOUR TARGET CUSTOMERS.
The better your products match the needs and wants of your customers, the greater your sales and profits will be.

 

Ask Yourself Several Big Questions

There are several BIG QUESTIONS that I have always asked myself in all my businesses and the first is:-
WHAT BENEFITS AND HELP DO MY PRODUCTS GIVE TO MY CUSTOMERS?
YOU should do the same and write down a list of BENEFITS.
Then ask yourself ONE OTHER BIG QUESTION:-
ARE THESE THE RIGHT BENEFITS THAT MY CUSTOMERS WANT AND NEED?
Answer this honestly and then ask yourself another BIG QUESTION:-
ARE THEIR BENEFITS THAT MY CUSTOMERS WANT AND NEED THAT MY PRODUCTS DON’T FULLY PROVIDE?
If there are significant BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and your PRODUCTS that they don’t presently get from YOU, YOU should THINK to maybe CHANGE or MODIFY your PRODUCTS or introduce NEW PRODUCTS that will provide those BENEFITS.

 

This Is Why Smart Business Thinking Is So Important

This is why SMART BUSINESS THINKING and SMART BUSINESS ACTIONS are so important – they both force YOU to ANALYZE your PRODUCT OFFERINGS CRITICALLY.
BETTER PRODUCTS SHOULD THEN FOLLOW, which should, in time, INCREASE SALES.

 

You Should Also Ask Your Customers

YOU should also TALK to your CUSTOMERS and ASK them about your PRODUCTS. Businesses are VERY POOR at TALKING to their CUSTOMERS, especially the 90% who RUN MEDIOCRE BUSINESSES.
I have always TALKED to my CUSTOMERS and I have always learned so MUCH –  it has enabled me to always PROVIDE THE RIGHT BENEFITS to my CUSTOMERS and the process has always enabled me to achieve HIGH SALES with all my businesses.

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

 

Set Yourself the Objective To Provide The Best Benefits

YOU must SET yourself THE OBJECTIVE to PROVIDE the VERY BEST BENEFITS to your CUSTOMERS.
As part of that, ASK yourself and your CUSTOMERS about the PRODUCTS that YOU presently offer and ask them about the BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and whether your products satisfy those wants and needs.
YOU should then formulate CHANGES to your PRODUCT RANGE and INTRODUCE these as part of your business plan-  your REVENUE SALES should then GROW SIGNIFICANTLY, as a result.
If YOU wish to discuss this article more fully with me, then please email me at robert@prestigebusinesscoaching.co.uk or please contact me below:

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7 Strong Reasons Why You Should Build A Strong Brand

TRUST10 7 Strong Reasons Why You Should Build A Strong Brand

7 Strong Reasons Why You Should Build A Strong Brand

Is your business recognized as a BRAND?

Are your products recognized as a BRAND?

Is your BUSINESS NAME or the name of your PRODUCTS well known?

If the answer to any of these questions is no, then you are missing a trick to sell more of your products.

Businesses like Tesco, Marks & Spencer, Ford, Dyson and products like Mars Bar, Fairy Washing Up Liquid are STRONG brands, which means most people have heard of them.

These BRANDS, by and large, are famous for providing high quality and, as a result, they instil trust in their customers and in new customers to come and buy.

Which means being a BRAND is very powerful  –  being a BRAND with enhance the BUSINESS SUCCESS of any organization.

 

BRANDS CAN BE CREATED

Whether you are a start-up or an established business, it is possible to BUILD A STRONG BRAND and thus create a STRONG BRAND IMAGE for any business and for any product, including making both your business a STRONG BRAND NAME and your products a STRONG BRAND NAME, and a BIG OBJECTIVE, as part of your BUSINESS PLAN, must be for you to deliberately create a STRONG BRAND IMAGE for your business and your products.

Why should you BUILD A STRONG BRAND?

There are SEVEN advantages to creating a STRONG BRAND IMAGE and SEVEN REASONS why you should create a STRONG BRAND IMAGE.

  • Strong Brands create recognition
  • Strong Brands create trust
  • Strong Brands send out the message that your product is bought by others and gives benefits that others enjoy
  • Strong Brands can sell themselves
  • Strong Brands usually achieve greater sales
  • Strong Brands reduces marketing needs & costs
  • Strong Brands will allow you to charge more for your products

RECOGNITION IS IMPORTANT

Recognition is important – if your product is on a shelf in a shop, for instance, and it is next to a similar product that is less well known, then people are more likely to recognise your product and are more likely to buy your product as opposed to the other product.

When you build a strong brand you create recognition.

 

YOU NEED TRUST

People often will not buy a product unless they know something about that product and have trust that it is right for them and will bring them the benefits that they want. Trust is something that is built up over time, but by being a recognised brand that people recognise immediately, then they are more likely to trust that product and will buy it.

When you build a strong brand you create trust.

 

SEND OUT A STRONG MESSAGE ABOUT YOUR BENEFITS

Being a STRONG BRAND sends out a STRONG MESSAGE to your target customers that this product is bought by many other people and it brings benefits that these people want, need and enjoy. If a target customer thinks that a certain product brings benefits for other target customers, he or she might well think that it will bring benefits to them, as well.

When you build a strong brand you create the impression that many people trust it and buy it.

 

BRANDS SELL THEMSELVES

A STRONG BRAND will do much of its own SELLING and MARKETING respectively, which reduces your need to SELL and MARKET your product and thus this reduces the time, effort and money to SELL and MARKET, so reducing your marketing costs and enhancing your profits.

STRONG BRANDS will SELL themselves and STRONG BRANDS will MARKET themselves.

 

BRANDS USUALLY HAVE HIGHER SALES

STRONG BRANDS usually have GREATER SALES, so YOU must think that A STRONG BRAND IMAGE for your business and products will create STRONGER SALES and STRONGER PROFITS for your business.

When you build a strong brand you create the potential for higher sales.

 

YOU CAN CHARGE HIGHER PRICES

By being a recognised BRAND, that is trusted, YOU can command a higher price for your PRODUCTS, which in turn will drive up your PROFITS.

When you build a strong brand you create the ability to charge more for your products.

TRUST10-600x319 7 Strong Reasons Why You Should Build A Strong Brand

 

PROMISE YOURSELF THAT YOU WILL CREATE A BRAND

So, SEVEN very powerful reasons for you to create a STRONG BRAND out of your BUSINESS NAME and your BUSINESS PRODUCTS.

YOU must say to yourself now:

“My OBJECTIVE must be to BUILD A STRONG BRAND and to create a STRONG BRAND IMAGE for my business and for my products that people will instantly recognise and trust”.

Do it today – include it in your BUSINESS PLAN and include it in MARKETING.

 

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

If you would like further advice on this, please contact me: robert@prestigebusinesscoaching.co.uk

or contact me here:

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Is Your Business Profit Good?

How-Healthy-Are-Your-Profits.docx-3-600x319 Is Your Business Profit Good?

Is Your Business Profit Good?

How Healthy Are Your Profits?

  • How healthy is your business?

  • Are your sales rising?

  • Are your margins good?

  • Do you have control of your costs?

  • Are your Profits growing?

  • Is your business profit good?

  • Do you need to boost your business profit?

    If your sales and profits are growing then you should have a healthy business. But if your sales and profits are flat or are decreasing, then your business is not so healthy and you need to take action.

In such a situation, your business needs a complete re-think –  you need to re-think everything within your business, starting with FOUR major areas:-

  • Your Products
  • Your Customers
  • Your Margins
  • Your Costs
You should ask yourself questions about your products:-
  • Are your products matched exactly to the needs and wants of your customers?
  • Do your products bring real benefits to your customers?
  • Do your products make the lives of your customers better?
  • Are your products priced right to give value for money but also a good margin?
  • Have your product sales dipped in the past 12 months and, if so, by how much and why?

You need to sell a high number of your products to generate high sales that keep growing, but you will only achieve that if your products match exactly the needs and wants of your customers.

You should ask yourself questions about your customers:-
  • Do you understand fully who your target customers are & everything about them?
  • Do you have an army of customers that is growing?
  • Do your customers return to buy more from you?
  • Do your customers tell their friends about you?
  • Do your customers get a good customer experience from your business?
  • Has your customer numbers dropped in the past 12 months and, if so, by how much?

It is imperative that you understand who your target customer is and you understand everything about the needs and wants of that customer –  then you should be able to sell them the right product and achieve a large army of customers and keep growing that army.

You should ask yourself questions about your gross profit margins:-
  • Is your margin sufficient to pay your costs and to give you a good net profit?
  • Are your selling prices lower than the equivalent charged by your competitors?
  • When was your last selling price increase?
  • Are you paying too much for your products?
  • Has your margin slipped in the past 12 months and, if so, by how much?

It is important to understand how your margin affects your net profit –  it must be large enough to comfortably pay all your costs and to give you a high net profit.  Are your prices too low and if you were to increase them, would sales slip?  In my experience, if you have a strong product offering, price increases should not affect sales.

You should ask yourself questions about your costs:-
  • Do you have a clear understanding of all your costs?
  • Are you as efficient and lean as you could be?
  • Do you know which costs have increased over the past 12 months, and by how much and why?
  • Are there purchases being made that could be trimmed or eliminated?

It is very easy for costs to creep up and to not be noticed. You should look at each cost and analyse each one and see where quick savings can be made.

From experience, doing this exercise can often generate significant changes to the health of a business. Even just a 10% increase in sales, a 2% increase in margin and a 10% decrease in costs can have a dramatic effect on the net profit, often adding as much as 40%  –  now that is surely worth having?

Have a think about this now!

How-Healthy-Are-Your-Profits.docx-3-600x319 Is Your Business Profit Good?

This is a very quick snapshot of possible remedies for an unhealthy business, but if you would like some more advice, email me now: Robert@prestigebusinesscoaching.co.uk.

Or contact me here:

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HAVE SMART BUSINESS THINKING, HAVE SMART BUSINESS ACTIONS!

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8 Ways For Overcoming The Fear Of Failure In Business

photo-1428999418909-363f8e091c501-e1454500416403 8 Ways For Overcoming The Fear Of Failure In Business

8 Ways For Overcoming The Fear Of Failure In Business

The Fear Of Failure Is Very Common & It Can Be Very Disabling, Holding Entrepreneurs Back.      But It Can Be Beaten & In This Article, I Describe 8 Ways For Overcoming The Fear Of Failure.

If The Fear Of Failure Is Holding You Back, Please Read On.

The fear of failure in business is very common and it can prevent people who run businesses from moving forward. It is usually a state of mind that can be very immobilizing, preventing us from stepping outside our comfort zones into the unknown, leaving us saying:

“I Can’t Do This”

This can manifest itself in someone fearing failure by feeling physically stressed and anxious and thinking: “I CAN’T DO THIS”

By Changing Things, People Think They Risk Failure

Those experiencing FEAR OF FAILURE think that by changing things, they risk failure  –  they think that any changes made may have a negative effect and not work, making their present situation worse, so they decide to maintain the status quo.

For many business owners, they find they cannot step outside their comfort zones to achieve actions within the business to move it forward, thus restricting business success; they feel comfortable within their COMFORT ZONES and don’t feel like venturing outside.

Overcoming The Fear Of Failure Is Very Possible By Changing How You Think & Act

Overcoming the fear of failure is very possible by changing how you think and how you act and many have done it and I am sure you can, too.

8-Ways 8 Ways For Overcoming The Fear Of Failure In Business

The Subconscious Mind Is Programmed To Protect Us

The subconscious part of our brains are programmed to protect us when there is danger; if you have a fear of spiders, for instance, your subconscious mind acts to protect you when you see a spider by spontaneously moving you away from the ‘danger’ of the spider.

Many of us have fear phobias – it could be the fear of heights, water, enclosed spaces – there are so many.  But our subconscious minds are there to protect us against these instinctively without us consciously thinking about them, when we are faced with such ‘dangers’

For us in business, a fear phobia can manifest itself as a ‘fear of failure’. Those that experience this fear phobia have a subconscious mind that is protecting them from failure in their business and this prevents them doing anything that means them taking action that they are not confident about and are not comfortable about.  In other words, their subconscious minds are preventing these people to ‘step outside their comfort zones’

Very often these people decide that they cannot take certain actions to move their businesses to higher levels in case the actions don’t work and their businesses are damaged or even fail and the result is to take their business backwards rather than forwards.  They decide to not take the action and keep their business in the space it already occupies.

The danger here is that any business that tries to stand still often ends up going backwards, because there is no innovation or creativity happening within the business.

Sometimes a previous failure or set-back can prevent someone from trying again as they fear the same outcome.

Different people have different reasons for the FEAR OF FAILURE becoming a handicap to business development.  Whatever the reason, the fear of failure is one of the biggest reasons for failure in business –  businesses that do not move forward ultimately end up going backwards and declining and it can often be the FEAR OF FAILURE of the business owner that can create this situation.

It Is Possible To Beat The Fear Of Failure

But it is possible to beat the fear of failure and here are EIGHT ways to do this:-

  1. Try to analyze your own fear inside your mind – try to see where it originated – Ask yourself if you are, for instance, worried about losing money or ‘face’ in your business? If you lost some money, would it be the end of the world and if it is ‘face’, does it matter what people think about you – the chances are they won’t think as badly about your situation, as you think they will.  Make a list of the things that create your FEAR and try to focus on the main reasons for your fear; try to understand them and try to accept that they are not important and that you should not be worried about them.
  2. Break down what you wish to achieve into ‘chunks’ – if, for instance, you wish to grow your business, there may be several ways that you wish to do this. You might want to launch a new product or several products or sell into new markets, say. Rather than trying to do everything at once, select ONE thing to do, set that as your ONE objective and concentrate on that. Very often business owners try to do too many things at once and get overwhelmed.
  3. Analyze your one objective  –  you should analyze how you will achieve your ONE objective. You should break your objective down into small goals that when put together will achieve your ONE objective. By doing this, you are focusing on the small goals rather than the overall objective, which should be less daunting.
  4. Set a strategy   –  having set your small goals, you should then create a separate strategy for each goal and use that to achieve each goal. As you achieve your separate goals, your confidence should grow along with the belief that your ONE objective is possible.
  5. You should quantify the benefits of attaining your ONE objective to your business  –   this could be a rise in profits, such as a 10% increase in your net profit.  Think how it will feel to have more profit in the business and what benefits there would be.  You should also look at the downside, if you don’t achieve your objective. One way to think about growth is to think that you have nothing to lose – if the ONE objective is not achieved, your business will be no worse off, but if you do achieve it, you could substantially improve your business finances.
  6. Think about learning – even if you fail in your ONE objective, you should learn much from the process and possibly about yourself. It is impossible to go through life without some failure and setbacks – the most successful of entrepreneurs have had many failures (Richard Branson is a good example) but every one of the most successful entrepreneurs has learned from the process and has used that new knowledge to try again. You should think that failure is part of succeeding and that you must first fail in order to ultimately succeed.
  7. Try to think positive about your ONE objective  –  keep saying to yourself “I CAN DO THIS” and say it over and over again. You should say or think this especially at times when you feel the fear or you feel negative about your business.
  8. Try to imagine how you will feel when you have achieved your ONE objective – almost certainly it will give you a huge confidence boost and enhance your well being and happiness.  Try to imagine or visualize how you will feel, having beaten your ‘fear’ and having achieved your goals and objective.  You should feel really good.   Think that you want that feeling and that you will only achieve it, if you beat the FEAR OF FAILURE.

I Had The Fear Of Failure When I Started

When I started my first business, I had the fear of failure and I overcame this by doing what I have suggested above, here, and if you have the same fear, the above could work for you, too. It will take a little time but be patient with yourself and let it happen gradually, but never give up.

If you would like to talk more about this with me, please contact me at Robert@prestigebusinesscoaching.co.uk.

Or you can contact me below:

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mindset-e1454502575252 Is Your Mindset Holding You Back?

Is Your Mindset Holding You Back?

Your mindset could be the difference between SUCCESS and FAILURE.

Psychologists suggest that business people have one of two MINDSET TYPES:-

  • GROWTH MINDSET
  • FIXED MINDSET

The most successful in business have a growth mindset.

What mindset do you have?

In order to determine which type YOU are, YOU should answer the following questions:-

  1. Is your mind free and open to NEW THOUGHTS and eager to keep learning new things?
  2. Are YOU always keen to keep moving yourself and your business forward, whatever it takes?
  3. Do YOU view challenges as exciting and eager to accomplish them?
  4. Can YOU step outside your COMFORT ZONE and do whatever it takes to drive your business forward?
  5. When YOU have a set-back, do YOU learn from the set back and bounce back quickly and keep moving forward?

If Your Answer “Yes” To All 5 Questions, You Have A Growth Mindset

If YOU answer “YES!” to these FIVE QUESTIONS, then YOU have a GROWTH MINDSET.

By having a GROWTH MINDSET, YOU and your MIND are prepared to take your business in whatever direction it needs to go to ensure SUCCESS and you UNDERSTAND the reasons for doing so.

4% of the most SUCCESSFUL BUSINESS PEOPLE –  the likes of Richard Branson, Steve Jobs and Peter Jones  –  all have a GROWTH MINDSET and this state of MIND is fundamental to BUSINESS SUCCESS.

A Fixed Mindset Is Opposite To A Growth Mindset

A FIXED MINDSET is the opposite to a GROWTH MINDSET and if that is the state of your mind, then YOU will struggle to attain REAL BUSINESS SUCCESS. A FIXED MINDSET has the following characteristics:-

  1. Your mind will NOT be free and open to NEW THOUGHTS and YOU will NOT be eager to keep learning new things.
  2. YOU will NOT always be keen to keep moving yourself and your business forward, and YOU would be happy with the status quo.
  3. Challenges will frighten YOU.
  4. YOU will NOT step outside your COMFORT ZONE and YOU will NOT do whatever it takes to drive your business forward.
  5. When you have a set-back, YOU will dwell on it and become NEGATIVE about it.

You Can Make Changes

If this is YOU or if YOU experience some of this, then YOU can make changes.

The place to start is to become AWARE of the state and when YOU feel it, YOU should react in POSITIVE WAY and to do the following:-

  1. FREE and OPEN UP your mind to NEW THOUGHTS and BE EAGER to keep learning new things.
  2. YOU must be keen to keep moving yourself and your business forward, whatever it takes.
  3. YOU must view challenges as exciting and BE eager to accomplish them.
  4. YOU must step outside your COMFORT ZONE and do whatever it takes to drive your business forward.
  5. When YOU have a set-back, YOU must learn from the set back and bounce back quickly and keep yourself and your business moving forward.
  6. Keep saying to yourself “I AM A SUCCESS” and “I CAN DO THIS”

It will take a few weeks, but by continually thinking the above to yourself, gradually, your MINDSET will change, along with prospects for your SUCCESS.

If you would like to talk more about this with me, please contact me at Robert@prestigebusinesscoaching.co.uk.

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