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Keeping In Touch With Your Entrepreneurs Mindset

Another One Bites The Dust…”

Sadly this week we’ve seen Thomas Cook go into administration, another big company with over 170 years of trading. Many commentators are blaming their lack of response and speed to change their business model, as the root cause of the demise. 

In my blog last week (Change Gear) I used this quote:

“It is not the most intellectual of the species that survives; it is not the strongest that survives; but the one that is most responsive to change” Charles Darwin Origin of Species

I love this quote by Charles Darwin because it’s also so true for all entrepreneurs and, big or small, businesses. They get stuck in the “But we’ve always done it this way” syndrome, particularly when it comes to their business model. As businesses grow they can become fat and lazy, bad habits form with poor disciplines and over complexity. There’s a strong belief the only way to improve is to throw more staff at it.

The challenge for you as the business owner is that you’re a control freak and a perfectionist. Yep sorry, unfortunately, it’s a by-product of being an Entrepreneur and here’s why:

  •  You’re really really passionate about what you do
  • You also care about the services you provide for your customers
  • You believe everything you do should be top quality because it has your name on it
  • There are many jobs you believe only you can do in your business and you don’t trust others to do them

Do some of these sound familiar?

 

Now the good news

 

There is a better way. But, it’s going to take a lot of courage and time. I know you haven’t got any extra time, you’re far too busy.

But I’ll give you a really strong reason why you should… “Because if you don’t your competitor’s will and you’ll get left behind and at a great rate of speed.”

Your Action This Week…

 

The mindset and approach which got you here was great, but to grow beyond it something has to change. I want you to rekindle your entrepreneur’s mindset and start looking at your business in a different way.

When was the last time you stood back and took a fresh look at your business? I want you to take 5 minutes now to consider these Four questions:

  1. What is it you want the business to be known for?
  2. What are its core values?
  3. Imagine yourself as a potential purchaser of your company, and in five years time you walked into your business:

What would you want to see and how would it have changed from what it is now?

What products would it be selling and what new products has it developed?

You speak to some of the staff and you ask them, what would you want them to say about the company now?

You meet the Managing Director and you go through some numbers; What’s your turnover? How much profit? How much are you earning?

 And the fourth: What’s stopping you?

Email me now with your answer and I’ll give you some free help to enable you to overcome it.

 

PS: Next week I’ll tell you what it is…

 

To Find out how you can fall back in love with your business get a free Business health check now.