Check out my Interview with Ken Attard, Mindset Consultant
about 18 days ago.
Updated about 1 month ago.
Business owners typically “live” their principles. They may not stand up and shout, “Here are the principles by which I run my business and live my life” but their principles are embedded in their thoughts, words, and actions.
If you’re not certain what your business principles are, if you want to add more principles to your arsenal, or if you simply want to understand business principles, let’s explore a list of 11 for you to ponder.
One of the challenges many people struggle with is trying to have personal satisfaction while running a business without sacrificing one for the other. Your principles will help drive your business and help you get back to a more satisfying personal life.
1. What are your strengths? When you focus on what you’re strong in, you can find ways to address business weaknesses. One way to best address a business weakness is to delegate those tasks at which you struggle. When you do this, you remove that struggle from your plate, and you can fully focus on the strengths you bring to the table. I think it is better to work on strengths and delegate everything else, if possible.
2. Focus on short-term goals on your way toward your large dreams. When you are striving toward an audacious goal, you may sacrifice personal or family time in its pursuit. When you set short-term goals, you can work toward them, chip away at the larger goal, and know that you’re making progress without sacrificing your dreams.
3. What personal goals do you have? If you aren’t certain how your business will enhance your personal goals, how will you know if you’ve reached personal satisfaction nirvana? Personal goals should be the driving force behind business goals. Know what you want to, and need to, achieve personally, then work your business dreams around those principle-driven goals.
4. Do you practice what you preach? If you “preach” about taking the weekends off of work to recharge your batteries, but you spend the weekends working and sacrificing personal time, you need to take a step back and rethink where your principles got off track and get back on track.
5. Celebrate wins at work and at home. When your personal and your business principles mesh you can and should celebrate. Even if you’re a solopreneur, unless you’re single and have no immediate family and don’t even share your life with a goldfish – you are NOT going it alone. A supportive personal team will help you achieve your business goals. Thank those who are helping and supporting you.
6. Be a lifelong learner. If you’re living under a rock, you will be unaware of changes in the market, trends in your industry, and even failing relationships because of your focus on your work. Read. Attend classes. Network with business colleagues. Listen to podcasts. Spend time with family and learn new hobbies and follow new passions together.
7. The items on which you focus are those which you ultimately achieve. Take time to focus on those items you want and don’t dwell on the negatives or the “what ifs” of what you’re striving toward. “If you dream it you can do it” may be pithy, but I’ve found that what you focus on is what comes into your life. Focus on the positive. Address the negative, but don’t let negatives distract you from the big picture.
8. Surround yourself with like-minded individuals. Join a mastermind group. Find a group of people who will hold you accountable, be there to brainstorm, and with whom you will provide support as well. A mastermind group is a must for many entrepreneurs. In a mastermind group you are each focused on your business, and each is serious about business growth which requires discipline and needs to be one of your driving principles in order for it to be of benefit. Of course, I believe having accountability is a very important component to any group.
9. Don’t stray from your core competency. If you started your business to sell the best widgets, but you’ve heard that dog grooming is the biggest thriving industry in your market, don’t start offering a dog grooming service with every widget purchased. You need to stick with the passion that started you on your path toward business ownership. If that core business is thriving and can run on auto pilot, there is no reason you cannot pursue a different career path, but when you lose focus on the core competency – no matter what business – you’re focusing on non-money-making activities. (I call it, revenue generation avoidance activities.)
10. Be grateful. I suggest entrepreneurs keep a gratitude journal. This journal will help you through difficult times. When you take time at the end of every day to find at least three things about which to be grateful and start the next day by reading those things for which you’re grateful, you start the day on a positive note. Be grateful for the progress you’ve made (no matter how small or big). Be grateful for the support team you have. Be grateful for the innate skills you bring to your business – those are gifts.
11. Get out. Literally get out of the office. If you don’t practice self-care, your business will suffer. If you’re the only one who operates the business and you get ill, who will keep it going? How will the business thrive if you’re not? You may find that when facing a challenge, getting out of the office will give you new perspective on that challenge and when you go back to work, you will be refreshed and renewed.
There are many more principles that business owners live by. Talk with other entrepreneurs and find out what their driving principles are. Take time to write down your principles – or those principles you want to live by. What principles will you implement to help you increase your success?
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