I would like to share some fascinating discoveries I have made about why most entrepreneurs and small businesses fail.
Three of the biggest mistakes ARE:
1. Lack of TRUE Focus – Knowing where and what to focus ones attention on could possibly be the single most important thing to making or breaking your business. Being successful isn’t only about coming about with new creative idea’s. It’s about following through with the good ideas you have already come up with.
Three things entrepreneurs often lose sight of are profitability, planning and focusing on the single daily action to really grow there business.
2. Lots of incompletion’s – Completing less is better that starting a bunch of projects that just hang around undone. For both productivity and self-esteem it is important that the entrepreneur learn and experience the power and peace of mind that comes along with completing projects.
Entrepreneurs like many people have the habit of procrastinating which fuels the fire of incompletion’s and start burning out of control.
It’s also important for the entrepreneur to manage there environment and eliminate distractions that cause the entrepreneur to get stuck in “starting and stopping” cycles.
Start and stop cycles are huge time burners for the entrepreneur causing the list of incompletion’s to continue to grow instead of profits and new business.
3. Winging it verses being a PRO - The last thing I want to talk about for today is the need of a GAME PLAN.
Yes, a GAME PLAN.
Taking the time to really look at your business and get crystal clear about who your are, what you offer, why your doing what your doing and how you plan on getting there is often the most overlooked area of a business owner.
One of the best tools I have come across is the One-Page Strategic Plan put together by Verne Harnesh who wrote the book “The Rockefeller Habits”.
I have found this tool very helpful for running my own business as well as a useful tool to share with my clients. Take the time to work on your business and not in your business.
Stop winging it and be a PRO.
You can pick up a copy of the One-Page Strategic Plan at Verne’s website. Visit www.gazelles.com
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