Terry Barber: The best mindset for a successful business owner… continued | CraigDailyPress.com
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Terry Barber: The best mindset for a successful business owner… continued

We have been exploring the Six Dos characteristics of the best mindset for a successful business owner. Let’s review what we’ve covered so far:

• Directional:Directional: Pick a destination and chart a course for our business. Pick a destination and chart a course for our business.

Directional: Pick a destination and chart a course for our business.

• Purposeful:Purposeful: What is our “why” as a business owner? What is our “why” as a business owner?

Purposeful: What is our “why” as a business owner?

• Teachable:Teachable: Be a self-learner and coachable. Be a self-learner and coachable.

Teachable: Be a self-learner and coachable.

• Flexible:Flexible: Everything in business should be flexible but our principles. Everything in business should be flexible but our principles.

Flexible: Everything in business should be flexible but our principles.

The remaining two dos are forceful and forgetful.

Forceful: “Passion is energy. Feel the power that comes from focusing on what excites you.” — Oprah Winfrey.

Forceful is not how we deal with customers. It’s the energy we bring to and about our business. It’s deeply wrapped around our why (see “purposeful” in my Nov. 28 article) and divided into two parts: passion and purpose.

Passion is why we own the business we own, why we provide the services or products that we do, and the desire to do it the best we can at the highest quality we can. If we don’t believe in what we are doing and why we are doing it, there is no passion giving us energy.

As business owners, we can get so overwhelmed by the day-to-day demands of our business that we lose focus and our passion. To regain our passion, set aside time, annually, to review why we started our business, what were our original dreams and goals, and figure out how to get back to focusing on those.

Persistence is the ability to keep going when times get tough and hours get long. Without passion, fueled by our deep why, we don’t have the energy necessary to be persistent and survive those gut-checks in business.

If we lose our forcefulness in our business, it’s time to sell and move on to something else.

Forgetful: Too often in business, we business owners take a chance, have it not work, then get hesitant and become risk-averse to any other changes. We hang onto the past and let it impact our future.

This is the kiss of death for businesses. As we discovered last week exploring flexibility, the world is constantly changing and we, the business owners, must change with the times to remain relevant, reliable, and (most importantly) in business.

In a 1910 biography of Thomas Edison, the following conversation with Edison was shared by his friend, Walter S. Mallory:

“I said: ‘Isn’t it a shame that with the tremendous amount of work you have done you haven’t been able to get any results?’ Edison turned on me like a flash, and with a smile replied: ‘Results! Why, man, I have gotten lots of results! I know several thousand things that won’t work!'”

Learn from past “mistakes” or “failures” then let go of the emotion and move forward.

Another forgetful “Do” is to drop the phrase, “We tried that already.” This statement comes with the unspoken follow-up statement of “I don’t believe anything close to it will work, and I don’t want to do it again,” This reasoning has two flaws.

The first is it is based on the fear of failure. I/It “failed” once and I don’t want to fail again (see Edison above).

The second flaw is the assumption that doing something similar will “fail” just as soundly. Any business plan has many different critical parts. The “failure” of one part, independent of the other parts, could be the reason for the “failure” of the plan. Maybe it was, overall, a great plan but one part was bad and caused it to “fail.”

Run the plan. Test and measure. Examine the results. Modify what is necessary and keep the rest. Run and retest and remeasure. Repeat as needed. If it is a good plan, don’t throw the baby out with the bathwater.

That completes our exploration of the 6 Do’s characteristics of the best mindset for a successful business owner. In upcoming articles, we will explore the 6 Don’ts.

Terry Barber is co-owner and founder of Ardent Leadership & Technology Solutions, Inc. and your local certified business coach for the world’s #1 business coaching firm, ActionCOACH. You can reach him at terrybarber@actioncoach.com.Terry Barber is co-owner and founder of Ardent Leadership & Technology Solutions, Inc. and your local certified business coach for the world’s #1 business coaching firm, ActionCOACH. You can reach him at terrybarber@actioncoach.com.Terry Barber is co-owner and founder of Ardent Leadership & Technology Solutions, Inc. and your local certified business coach for the world’s #1 business coaching firm, ActionCOACH. You can reach him at terrybarber@actioncoach.com.


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