Business owners – take your business seriously

There is no magic bullet to make your business successful, but above all, Business owners, take your business seriously.

Taking your business seriously means just that.  Run it, deal with it and approach it as a business.

Business or hobby

Firstly, what’s a business?  One official definition of a business is the activity of making one's living or making money by producing or buying and selling products.

hobby , on the other hand is a regular activity done for enjoyment, typically during one's leisure time, not professionally and not for pay.

As a business owner, you're there to make impact, you're there to serve your customers well, you're there to enjoy it and you're there to make yourself some money.

Making money, profit and cash in the bank has to feature and your numbers, your best friend in business, that won't lie to you plays a massive part.

Business success

Your business success is like making a lovely meal. You need the right ingredients and know how. By the way, it’s your definition of business success, not someone else’s.

Let’s share some of those business ingredients.

Mindset

Your mindset, your attitude in your business is vital.   Mindset are your thoughts about the world, your attitudes, your behaviour, your assumptions. It is the main factor in how you’re influenced and how you handle situations in your work as well as home life.

Mindset plays a big hand in success, as well as handling the inevitable those bumps in the road.

Likewise, recognise the importance of numbers to help you on your way to WINNING.

Fixed mindset

This won’t work in your business. It means you carry on with the status quo. You become closed to new ways of thinking and working.  This will create a stale and stagnant business that is slowly or rapidly sinking.

Fixed mindsets have their place in your business.  Absolutely adopt that fixed mindset for things like due diligence, compliance, systems and procedures credit control, and cash flow.

Growth mindset

When it comes to growth, development stopping your business going backwards then avoid dogma, and concrete thinking.

A growth mindset does not accept the status quo, makes you step outside of your comfort zone. Your attitude to risk is that you’re willing to look at things differently, take steps to get what you want in your business.

It’s a creative way engaging with clients, selling to new customers.  Effort, costs, energy, and your time are seen as investments and opportunities.

Business growth. You don’t have a choice.

Your business needs to grow and develop.  If it doesn’t grow.  Then it runs the risk of going backwards.  Business growth is a good thing. Your business needs to expand over time.

Some of your customers will leave you, costs and competition seem more intense.  The business landscape changes, and if you don’t embrace change your business will be left behind.

New customers mean that there will be new sales.  Newer sales mean profits, which is what everybody wants!

Working with others

Your business growth does not happen on its own.  You need assistance, support, and help.  If you think you can do it by yourself, for nothing and on the cheap then you’re deluding yourself.

Nothing grows in isolation, and nothing grows unaided without outside help and support.

Also, it is uninspiring and doesn’t push you to think outside of your box, try mixing it up a bit! A diverse community of others with new ideas and interesting perspectives can really help stimulate and formulate new ideas. Share your ideas and free up your headspace for growth focused activities. Remember teamwork isn’t a bother, it’s an asset!

Teamwork

Working and learning in teams is profitable because everyone has experiences to share. Most importantly it helps you see other points of view, learning and sharing from the successes and mistakes of others.  You can then apply that shared knowledge to your own business growth.

Similarly, another benefit of having a network of people is that it can help with accountability. When you share your plans, you become committed! And now you have a group of people to hold you accountable. Above all accountability to others makes you more responsible.

Nobody wants to lose face in front of peers, fear of disgrace can help you remain focused on your goals.

Planning

A goal without a plan is just a wish.  Growing your business, making money and impact needs a plan, and needs a planning mindset.  A planning mindset is part of that growth mindset.

Borrowing a military saying, Proper Planning and Preparation Prevents Piss Poor Performance.

In conclusion. Business owners, take your business seriously, unless you want a time consuming and expensive hobby.

Get in touch with us to find out more about Getting paid on time and getting it right. For more business and finance , news, advice and tips, don’t forget to watch our weekly broadcasts, listen to our weekly podcast I Hate Numbers.

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