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Business owners are often wondering how they are going to create success in their business. With all of the responsibilities of business owners, it can be easy to fall into bad habits. Here are 7 things business owners need to stop doing to create success in their businesses.
In order to create success in your business, it is imperative that you organize your priorities. When you are distracted by all of the little tasks in your business, you lose that time to work on important tasks. In order for your company to run smoothly, you must keep yourself accountable. This means that you work on tasks based on how high they are on your priority list.
In the age of technology, why are you still using paper, pencils, and excel spreadsheets to organize your finances? Using modern technology like Quickbooks Online to automate your finances is the best way to create success in the modern world. By using modern technology in your finance department, you can expect to spend significantly less time organizing your finances. Use that extra time to develop other parts of your company.
Many business owners find it absolutely necessary to wear all of the hats in their company. This is usually caused by the fear or lack thereof delegating. You must learn to trust others and delegate tasks to them for your company to maintain a healthy balance. Start by delegating administrative tasks like scheduling, and phone calls to employees or independent contractors. This allows you the freedom to focus on building your company.
The worst thing you can do for your business and your mental/physical health is overwork yourself. Even though working long hours is glorified by the “grind mentality,” it is not sustainable for your or your business’ success. Something will break, and it will probably be you. Working constantly is the #1 cause of early burnout and lack of focus. Rather than working all through the day and night, prioritize and schedule your time for a healthy balance.
Oftentimes, we completely forget to take care of our relationships. It is extremely important to find the balance in your life to build your business while also nurturing your friendships, family, or romantic relationships. Remember to keep building and maintaining these relationships! These are the people that will be your biggest cheerleaders as you grow and change in your business.
While we are in the midst of business ownership, it is easy to forget about all of the opportunity that is out there. This can manifest itself in several ways. Some include pricing too low, or avoiding big moves for fear of messing up or lack of faith in what “could be.” It is so easy to forget about all of the opportunities and abundance that is out there for us. Start to shift your mindset to be one of abundance and allow yourself to think big and start moving towards creating success.
Knowing in your head why you started a business isn’t enough anymore; you must know and feel it in your heart. Simon Sinek has a book and an awesome TED Talk about this very subject: finding your WHY. Knowing your “why” will require you to be a good storyteller. It will require you to open up about your hopes and dreams! People will work with you because they agree with your purpose. Your purpose will sustain you through the many hard times you will experience in business ownership.
If something in this post spoke to you in any way, please share it with another business owner! We love helping business owners create success and through that have learned that so many of these 7 things are overlooked.
If you would like to talk about business consultation and coaching, contact us, we’d be happy to help!