Business, Business Education

How the Lesson of the Gordian Knot Can Help You When Your Business Faces a Difficult and Urgent Problem

Recently, we discussed how to deal with the fallout of falling into the key person dependency trap. But, what happens if you unwittingly run into such a scenario or a similar situation? In other words, what if you’re faced with making an urgent and crucial decision?

Well, let’s look back at a historical event that can help guide business owners in such situations, courtesy of one of the most recognized leaders in all of antiquity – the son of King Phillip II – Alexander of Macedon or as he would come to be known, Alexander the Great, and his encounter with the Gordian Knot.

The Gordian Knot was a complex knot tied to an oxcart in the ancient city of Gordium. According to legend, whoever could untie the knot would be destined to rule all of Asia. When Alexander the Great arrived in Gordium in 333 BC, he was presented with the challenge of untying the knot. Instead of spending time trying to untangle it, Alexander took his sword and simply cut through it. This bold action came to be known as “cutting the Gordian knot,” which means solving a difficult problem with a quick and decisive solution.

How to Make an Urgent and Critical Business Decision with Confidence

Fast forward to the present. Today’s business world is very fast-paced. And being able to make quick and critical decisions is essential for success. The power to make confident choices under pressure can set you apart from your competitors and propel your business to new heights. Okay, why this sounds like a viable solution, exactly how does someone go about it? Well, there are steps you can take:

Assess the situation. The first step in making a quick and critical business decision is to assess the situation. Gather all relevant information and analyze the facts objectively. This will help you understand the problem and identify potential solutions.
Identify your priorities. When making a critical decision, it’s important to know your priorities. Determine what is most important to you and your business. This will help you weigh the pros and cons of each option and make a decision that aligns with your goals.
Consult with your team. Don’t be afraid to ask for help when making a critical decision. Consult with your team and gather their input. This will not only give you a fresh perspective, but it will also help build trust and confidence in your decision-making process.
Trust your instincts. While it’s important to gather information and consult with others, remember to trust your instincts. Sometimes, the best decisions come from following your gut. If something feels right, it probably is. Conversely, if you get a bad feeling, it’s probably the wrong decision.
Act decisively. Once you’ve made a decision, act on it with confidence. Don’t second-guess yourself or hesitate. Quick and decisive action is key to making a critical business decision with confidence.

Bonus Tips for High-Pressure Moments

Always take a step back. If overwhelming emotions threaten your clarity, take a short break to clear your head and regain perspective. Then, be bold and embrace the unknown. Accepting that perfect information is rarely available empowers you to make decisions despite uncertainty. Additionally, hone your focus on learning. View every decision as an opportunity to learn and adapt, even if the outcome isn’t ideal.

Making a quick and critical business decision with confidence requires assessment, prioritization, consultation, and trust in your instincts. But remember, even the most confident decisions carry some risk. Embrace the process, learn from each experience, and trust your ability to navigate challenging situations with courage and wisdom.

Want to Accomplish More?

Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do?

We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

Like this article?

How to Best Help Your Remote Workers Avoid Burnout

January 27, 2021 No Comments

Employee burnout. It’s a real problem, even when team members are working from home. (In fact, the issue can easily be exacerbated because there’s more pressure to perform amidst an atmosphere that’s not necessarily conducive to working and is also filled with distractions.) Just because people are working in a comfortable, familiar environment doesn’t mean they don’t still feel a sense of duty, responsibility, and pride. Ultimately, it’s these emotions which can undermine them and lead to employee burnout. So, read on to learn how to deal with these situations. Common Signs of Employee Burnout The most common signs of employee burnout are behaviors like disengagement, absenteeism, and lack of motivation and productivity. During virtual meetings and phone conferences, anyone who is suffering from burnout won’t be as engaged, will skip more and more meetings, and their attitude won’t reflect being motivated and/or productive. During any time of high unemployment, people are often afraid to take vacation, request work flexibility, or advocate for their work-life balance, mental health, and overall wellness–unless the company culture encourages them to. But with the added emergency-paradigm shift to remote work, which most workers and leaders alike have never experienced before, the challenges of how to communicate and find solutions to promote mental well-being are even more daunting. —Inc.com But, those aren’t the only signs of employee burnout. There’s also irritability, job dissatisfaction, and lack of achievement. People who are feeling burned out will probably be irritable, express to fellow team members their dissatisfaction, and will also tell others they don’t feel like they are achieving anything of value. 3 Effective Ways to Help Remote Workers Avoid Burnout Thankfully, there are ways to help remote workers avoid burnout. And, it won’t upend your operation or even cost very much. All you need to do is give them encouragement, let them have a good amount of autonomy, and say “Thank you,” in different ways. Here are some of the best ways to help your remote employees avoid work burnout: Acknowledge hard work. Just because someone isn’t in the office or on the job in a specific location doesn’t mean they aren’t giving it their all. As mentioned above, it can be very challenging to work from home precisely because it’s not equipped the same way as the workplace, and they must deal with all kinds of distractions. That means you should take the time to acknowledge their hard work. Focus on results, not hours. Sure, time spent on productivity is important. But, it’s certainly not more important than the end result. Instead of putting emphasis on the hours they spend “on the clock,” put your focus on outcomes — these are a far better measure of their efforts. Offer welcome and helpful perks. It’s also very helpful to give your employees some tools to reduce stress and access to positive experiences. Things like gym memberships, paid time off, and other perks can work wonders and bring a real strong return on investment. What other suggestions do you have? Please feel free to share your thoughts and experiences to help others. Your unique perspective and input could be of great benefit! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Don’t Let Sears JCPenney Ruin Your Retail Shop Dreams

May 23, 2017 No Comments

“Retail Apocalypse: Why JC Penney Will Survive; Sears Holdings Won’t,” exclaims a Motley Fool headline. ” J.C. Penney May Have No Other Choice but to Aggressively Close,” a headline in TheStreet.com predicts. “With Macy’s, Sears, Kohl’s Sliding, Can Mom and Pops Survive?” an NBC News headline asks. So, what’s really going on and why are these legacy retailers in such trouble? You can read for hours and come to different conclusions. But the underlying question is: can your retail store dreams still come true? The answer is: Yes. How to Start a Successful Retail Business The hyperbole of a “retail apocalypse” is a practice in the old journalism cliché, “If it bleeds, it leads.” Shocking headlines do get attention and these might even make you think there’s no point in starting a retail business. But, this simply isn’t the case. The problem these icons face began many, many years ago. And, with a bit of can-do attitude, you can start your own retail business. (Even if you have bad credit, you can be a retail entrepreneur.) ‘Main Street’ has now become a generic term synonymous with U.S. small business in general. But for many entrepreneurs, the prospect of joining Main Street in its more literal meaning – i.e. the primary retail street of a village or town – still holds an enormous amount of appeal as a business venture. Given the right amount of market research, business planning, and financial support, starting a retail business (and joining the more than 24 million people who earn a living this way) can offer many rewards to the right kind of entrepreneur. — U.S. Small Business Administration The trick is not to fall into a front-loaded trap. That means, taking on a lot of new debt to get it up and running. Incremental growth works every time because it greatly reduces risk. It also allows you to seriously cut down on the inevitable learning curve. Plus, starting small gives you a prime opportunity to identify trends. All of these are a huge help. You’ll come across different ways to grow and to save money in your venture, such as small business tax savings, and plenty more. You can build a thriving retail company, even if you’re the only employee. Here are some helpful tips for how to start a successful retail business: Find a solid niche. Think about the success of Etsy, Pinterest, Shopify, and other platforms. All of these have a common denominator — niche products and services. Whatever your passion is, chances are excellent you can turn a fun-loving hobby into a profitable business. Start by searching for like products or services and take note of their marketing techniques. Test the online market. When you have a solid idea of what others are doing, it’s time to step into the business yourself. The good news is, you don’t have to open an actual store in a shopping mall or in a retail strip. You can begin selling online in your spare time. Be sure to spread the word through social media. And, check out local events to test the market in your own area. Grow its sales incrementally. The one problem you really need to avoid is to allow it to grow past your ability to meet demand. That means managing expectations right from the beginning. Ask yourself how much you can handle on your own. In other words, ask yourself, “How many of these can I produce in a given timeframe?” Then, extrapolate from there to learn how to handle more and more orders. Go find your Customer. In most retail businesses, their marketing model is to wait for customers to find them and their products. Instead, identify your target customer and go to them in the beginning so that you can get early traction and sales. Be more reliant on your ability to generate sales rather than dependent on waiting for sales. Consider opening a brick-and-mortar. At some point, you might seriously consider opening a brick-and-mortar location. But this is where you need to be most cautious. Plenty of retail businesses who do well without a brick-and-mortar location open a shop only to be overwhelmed by the new operating costs. However, this doesn’t mean it isn’t an option, just be realistic about the projected revenue and expenses. Have you established a successful retail business? What tips and tricks do you use for you retail company? Please share your own thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group. [shareaholic app=”follow_buttons” id=”26833294″]

Successful People Over Come These Big Challenges

May 16, 2017 No Comments

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. Want to find out about what a business coach can do for you? [shareaholic app=”follow_buttons” id=”26833294″]

How the Lesson of the Gordian Knot Can Help You When Your Business Faces a Difficult and Urgent Problem

How the Lesson of the Gordian Knot Can Help You When Your Business Faces a Difficult and Urgent Problem

How to Make an Urgent and Critical Business Decision with Confidence

Bonus Tips for High-Pressure Moments

Want to Accomplish More?

Like this article?

Related Posts

How to Best Help Your Remote Workers Avoid Burnout

Don’t Let Sears JCPenney Ruin Your Retail Shop Dreams

Successful People Over Come These Big Challenges

Imagine Selling Your Business…

How Would Your Life Change?

Thank you for your interest in learning what your business is worth. We will be in touch shortly.