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Tuesday, 31 March 2015

What Entrepreneurs do the Others Don't, Won't or Can't...

Apparently, 80% of new businesses don't make it past the first five years of operating; a statistic usually promoted by Business Coaches and Guru's who themselves haven't yet been in business for Five Years...

Ever wondered why...?

If you ask someone who has "moved on" from their own business, there will be a variety of reasons - some are absolutely valid and lets not underestimate the challenge that face Entrepreneurs as they establish and grow a business..

But 80% failure rate...?

On my travels around the world, I have worked with, Coached and Trained 100's of business people; and I have figured out the "magic ingredients.." to Business Success...

If you believe that then you should stop reading now - there is no such thing as "magic ingredients..." there are, however, a simple set of guidelines that if followed will in my opinion and experience, make a big difference...
I would sum it up as Attitude...
If anyone comments here that "Attitude determines your Altitude..." I will send 24,000 volts your way with my Coaching Cattle Prod...
So what is this "Attitude" that is so critical to success; how do we define it...?
I thought I'd give you my "checklist" - the behaviors, beliefs and values that I have observed that determine success in business...

Please remember, that even with these patterns in place - success is not guaranteed, but the odds are definitely improved...
  1. Ego - if becoming an MD, CEO or Founder satisfied your ego, then you should not be in business. The first thing you should not do is lease the BMW / Merc / Audi and tell all your friends you have a fancy title.

    If you start off by taking people out to lunch and living off your expense account - you'll run out of cash really quick.

    Focus on delivering Value, derive reward and recognition not by the title on your Business Card, but by the quality of service your deliver to your clients -and if you haven't got any clients - see below.
  2. Knowledge - we all "don't know what we don't know..." ask for help and ideas, get a Coach, read books, go to seminars and workshops. The moment you think you "know it" is the moment before you'll wish you did.

    Stay open to learning, and if something goes wrong (which I guarantee it will...) pick yourself up and go again - "I Know.." are two of the most dangerous words in Business...

    You are a generalist - get good at Sales, Marketing, Leadership, Financials and Management - don't be an expert in any of them, and when you are ready, hire great people to do them for you...
  3. Passion - have an absolute passion for what you do; it shows... 
    When you love what you do - it's not a job, so when you don't have any holiday for the first three years, you won't care because you enjoy the journey so much...
    Entrepreneurs don't take holidays - they simply work on a different beach.
    If you feel the need to get away from your business, then you are in the wrong one. Go and get a job...
  4. Application - be prepared to do the "grunt work..". Work like a dog, do whatever it takes to get that first client, get the next one or open the second office - nothing is ever enough...

    Picture - www.eternol.com 

    Never switch off - weekends are for fun, relaxation and family time. They are also for thinking, writing and planning - if you feel drained on a Friday and need to "chill out", you may as well polish up the CV and start looking in the situations vacant column...
  5. Standards - hold yourself and those around you accountable to the highest standards of professionalism, quality and delivery - simply put; keep your promises...

    Pay people early, say nice things or shut up, and be 100% consistent in your dealings with everyone - not just your clients but your suppliers and most of all - your Team...
  6. Excuses - successful people don't make excuses. They may not win every time, but they don't blame their situation, other people or circumstances for their outcomes.

    When you can look at any outcome - good or bad - reflect on it, and understand that whatever it was; you created it, then you are on the path to growth.

    If you hear yourself blaming your Clients, Prospects or Colleagues or the Traffic, Lack of Time and Money for your results; then you become the victim of your situation not the master of it.
  7. Fun - building and growing a Business should be the best fun in the world. If it's not then you are doing it wrong.

    When you have fun, it shows - even after 21 days straight - it will make you more attractive to clients, more productive and so much better to work for and live with...

    Remember the reason you are doing it is not money - it's contribution, value, family time and quality of life; OK so maybe you'll have to sacrifice holidays, fancy cars and fine wines for the first three years or so, but make sure you enjoy the ride...
Now, does it also help to have a good idea, a great product or service that actually solves a problem for someone, adds value to them or improves their lives...?

Of course - but even the best business idea will fail without the attributes defined above; and remember if your idea is truly awful (and there are a few out there...) these attributes won't save you...

Does it get better and easier..?

Yes of course...

Is it all worth it...?

Absolutely...!

Do you have any to add to this list..?

David Holland is an Author, Speaker and Business Coach, who works with ambitious and sometimes slightly terrified Business Owners, Entrepreneurs and Executives making sure they don't jump off the bridge or go completely insane as they build they businesses and lives......
Unlike other "Coaches and Guru's" he doesn't take himself too seriously, but does do whatever it takes to enable the people he comes into contact with to survive and thrive in business and life; he's also a pretty good rock drummer and biker too.
He's got an MBA too - but only his Mom is impressed by that...
If you are bored, you could buy one of his books - if you actually read it, which apparently 76% of people don't - you'll learn about life, business and success and just maybe make a few more $$$ in the process.. Click HERE...
Want to find out more and join the eclectic tribe of amazing people we call friends, colleagues and clients..?
Email me - the first email is FREE - davidholland@resultsrulesok.com
...and then brace your self for the ride of your life...

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