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Successful People Over Come These Big Challenges

You’ve heard the cliches about you being your own biggest obstacle and starting with the person in the mirror to change course. Although inspirational, these leave something to be desired, and, it’s an important element called action. It’s difficult to take on challenges, especially when it’s your own business. These will be a reality, but, it’s how we act and react that ultimately dictates the outcome. The reason successful people act, or, react in certain ways is because they accept one immutable truth — avoidance does nothing but make situations worse.

Oddly enough, just acting without a true purpose or plan, usually delivers the same consequence, which is why Zig Ziglar said many times over, “If you aim at nothing, you will hit it every time.” Successful people not only act and react in a deliberate way, they do so with a goal in mind.

Successful People Overcome these Big Challenges

The trouble for some entrepreneurs is they let other things get in the way. Let’s be clear, we all have doubts, we all are susceptible to believing the worst, and to give into negative emotions. This is why there are no self-help manuals on how to fail. Failure is something we all do naturally, success is something that’s learned. It’s a combination of experience, judgment, and attitude. When you fail, you ought step into a Thomas Edison mindset, accepting the ultimate answer might be among many failures.

Many small businesses are limited in growth by the number of hours they have in the day. They can’t scale their businesses without adding more people or automating existing processes. Automating sales and marketing processes allow small businesses to gain the efficiencies of their bigger counterparts. —The Business Journals

Within these examples, we see perseverance, but, even the most resolute can be negatively impacted by various influences. All sorts of pressures can put an entrepreneur under a lot of stress and stress stretches thin clear thinking. It’s how you deal with these that determines if, as a business owner, you will succeed or will fail. In other words, successful entrepreneurs don’t let these challenges hold them back — not even the following:

Money. This is perhaps one of the single largest challenges (read: myths) that plague the business world. While money does provide you with resources for options, that doesn’t mean said options are worthwhile. Just ask Facebook, a company valued at about $200 billion with more than a billion users worldwide. Just two years ago, in 2013, the company put a lot of resources (read: money) behind Facebook Home. It debuted with a two-year subscription price of $99. Just two months later, it drop precipitously to a mere $0.99, after consumers put-in their two-cents worth. Having to really think about spending money wisely means having to make informed decisions.
Age. The number of years you’ve lived on this planet might be relatively few or relatively long, but, it doesn’t really matter. Notice the word “relatively.” Age is only a number and it doesn’t mean that you’re naive if you’re young or wise if you’re old. Your age doesn’t give people the authority or right, to tell you what you should and should not do.
Self doubt. This is a primordial trait, and, one that’s designed to make us approach the unknown with caution. Our primitive ancestors simply didn’t know if something would be harmful or helpful until it was tried. Doubt is healthy because it forces us to take pause but it doesn’t have to be an insurmountable barrier. Use it to your advantage and don’t let it take control.
Toxic people. Successful people don’t allow toxic people in their lives. What’s more, they quickly identify such bad personalities and stay clear. The reason some avoid what’s otherwise obvious, is the ability to rationalize certain relationships thinking that the good will outweigh the bad — it won’t.

Another big challenge is one that’s very real and direct: the competition. You are nearly assured to see others succeeding in the same industry, even in the same niche. This can certainly be a discouragement, but, doesn’t have to be one. Instead, look at them as an inspiration, if he or she did it, then why can’t you do the same?

While you might have different beginnings, talents, and resources, you can use what’s at your disposal to your advantage. Set small measurable goals, achieve each one, and built up success in an incremental, sincere fashion.

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Effective Ways to Deal with a Setback

May 7, 2019 No Comments

Setbacks are inevitable. They come in many shapes and sizes and some appear from out of the blue. When you encounter a setback, it triggers different emotions. You feel shocked, unprepared, perhaps angry or down. It’s only natural to feel bad after a setback but it’s how you handle it that really matters most. How to Overcome a Setback Everyone experiences setbacks, large and small. During these times it’s easy to feel overwhelmed and maybe even unappreciated. (This is especially true when it involves an interpersonal relationship.) Minor setbacks throw us off for a few hours but others are much more significant and really throw us in a tailspin. While we will all experience roadblocks, we will differ in how we handle them. Some of us have the resilience to just pick up the pieces and move on. Others find it difficult to let go. Either way, how do we learn from the tough times? —Entrepreneur.com Whatever the cause and no matter the size, it’s important to understand you aren’t out of options. Sure, you feel helpless to one degree or another. And, it does bring into question what’s all that time and effort for, anyway? But, if you put things into perspective, you’ll begin to realize it’s not the end-all, be-all. Effective Ways to Deal with a Setback We all know adversary helps to build character. Although, no one welcomes tough times, whether in the form of a setback or something else. So, here are some effective ways to deal with a setback you can put to use: It’s only temporary. Very few setbacks are insurmountable. And, most are only temporary. Realize it is just a temporary situation that will pass. It will only linger and bother you the longer you allow it. If you put it into perspective, it’s merely one of many temporary obstacles. Your goals remain. Sure, it does bring into question what all your hard work is for in the first place. And, it undermines your sense of accomplishment and success. While these are certainly true, it doesn’t change your goals. Refocus on your goals to help you overcome. Reset the timetable. Any setback will throw off the timeline, there’s little way around this fact. But, that doesn’t mean you can adapt and readjust your timetable to make it workable again. Take action, right away. Of course, the worst response is to do nothing at all. It will not get you past the situation and will only serve to make it haunt you even more. Take action straight away and you’ll start to feel better immediately. What other methods would you suggest to get past a setback? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Why a Recession Spells O-p-p-o-r-t-u-n-i-t-y for Successful Entrepreneurs

August 16, 2022 No Comments

As every savvy business owner knows, their company is not only subject to seasonality in at least some industries, but it can also be positively or negatively impacted by the overall national economic landscape and more particularly, the macroeconomy of their local community. So, there are cycles, or ups and downs, which more or less can be predicted. However, these factors don’t necessarily dictate every aspect of how they operate their businesses during good or bad times. Entrepreneurs still have quite a bit of say and it’s essential to understand that business owners are not totally helpless in uncertain times. The smartest and boldest entrepreneurs know and understand this, which is why they use recessionary periods to their advantage. One of the biggest debates in the business world really centers around individual personalities. In other words, two business owners in the same industry competing for the same consumer dollars might react in two totally different ways. When inflation spikes, interest rates go up, and consumers pull back their spending, one entrepreneur might also decide to pull back and scale down. This is not the time for inertia and despair or running around like the proverbial scaredy-cat. Instead of dwelling on the negatives as so many others do, realize that their preoccupation gives you a chance to one-up them. In fact, to be really contrarian about it, think of this catastrophe as a gift. The gift of challenges and opportunities. Challenges are what make business so exciting. Now’s the time to look for new, sustainable opportunities to grow your business and make it stronger. —Inc.com Meanwhile, the other business owner looks at this as an opportunity. Although consumers may be pulling back a bit, it doesn’t mean they can totally go without the goods and services they need. And, seeing that one of his chief competitors has decided to play it safe means there is a serious opportunity to be had for the bold entrepreneur. How Successful Entrepreneurs Turn a Recession into Opportunity Unfortunately, as stated above, this really depends on personality or more particularly mindset. Entrepreneurs who play it safe and try to ride out economic downturns will probably survive and even grow when things turn around. But, those people who played it safe might see a competitor grab up more market share because that rival decided to do the opposite. Here are some of the ways savvy business owners can take advantage of a recession: Increase advertising. The companies who continue to market their businesses aggressively will practically always reap the rewards and gain a return on investment. While others cut back on their advertising, entrepreneurs who are bolder and continue or increase their advertising put themselves in a stronger position in the marketplace. Buy out competition. This is something that happens regularly in certain professions, for instance, financial advisors. When one individual retires or a firm is winding down its operations, buying a book of business is quite common. Think about doing the same in your industry and how that could benefit your company in the long term. Streamline operations strategically. It’s not all just about going bigger, it’s also about being smart about how you’re running your business. Take some time to review your logistics and budget to see where you can streamline things to cut expenses while maximizing revenue. What other suggestions do you have? Please take a moment to share your thoughts and experiences so others can learn from you! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Don’t Dare Make these Startup Customer Service Mistakes

May 5, 2017 No Comments

Your business is really your customers’ and when you stop to think about that, it puts things in perspective. You need paying customers to stay in business and when you pay them respect, you invest in your company’s future. We’ve all dealt with bad customer service and have shared horrific stories about our experiences. In fact, studies show that customers who are satisfied with a company will share their enthusiasm with two to three people. However, dissatisfied customers will share their negative experiences with eight to ten people, even as many as twenty. That shouldn’t come as a surprise, but too many business owners focus on the bottom line in ways other than customer service. They think about how to increase exposure, new opportunities, upping sales figures, and the like. It’s usually only when a problem arises, brought to attention by a particular person, that customer service is put front-and-center. By then, it could well be too late and that shouldn’t be allowed to happen. Costly Startup Customer Service Mistakes Whether you’re building your book of business or have several clients, you need to make customer service a top priority, and, one that is ingrained into everyday practice. Being proactive is essential to success in pleasing your customers, and, they will assuredly take notice. After all, we as consumers continue to patronize the same places where we are made to feel important, even if the product or service isn’t necessarily the best of the best. No matter how great your company’s product or service is, if your customer service skills are lacking, it won’t make much difference. This is especially true in today’s economy, as struggling business owners need every possible advantage over their competition. Unfortunately, far too many business owners make the same customer service mistakes over and over again, sending their customers into the arms of their competitors. —All Business.com That’s how important good customer service really is, it removes or displaces many objections, and, can be the single most powerful thing that beats out your competition. You ought to take advantage of anything and everything you can and this area is where your company can excel. What you shouldn’t do is to make one of these startup customer service mistakes: Not responding in a timely manner. Forgo those auto email replies because they deliver a message that you don’t want to send: you’re too busy to be bothered to personally respond. A simple reply shows there’s someone who cares and values the sender as a business partner. Taking on projects that aren’t within your core competency. When startups take on everything that’s asked of them, even things which aren’t part of their core competencies, they make a huge mistake. The results are highly likely to be disappointing and that can mean losing future business. Limiting your connections to your customers. Complicated phone trees and canned online forms only serve as a frustration point for your customers and send a message that you don’t want direct contact. Be willing and open to connect with your customers and they’ll feel important. You don’t follow-up with past and present customers. It’s absolutely imperative that you check-in and follow-up with past and present customers. It lets them know you value them and is a great way to build-up your networking skills. Not having a set customer service protocol. Everyone in your organization should be in-the-know about customer service protocol and follow it when needed. If you don’t establish a set of practices, you’re leaving too much to chance. Two other big no-nos are being too accommodating and being too defensive of constructive criticism. Taking on everything that’s requested to look bigger than you are is a one-way ticket to mediocrity, or even to failure. While not being able to accept and learn from constructive criticism will make you appear obtuse and/or egotistical. Be grateful for your customers and show it and that alone will do wonders. [shareaholic app=”follow_buttons” id=”26833294″]