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Confidence, Clarity and Taking Action Steps by @XLConsultingGro

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Confidence, Clarity and Taking Action Steps

by Elaine Slatter | Featured Contributor

Entrepreneurs who spend a lot of time working in isolation can easily lose their confidence, clarity and then taking action steps is more difficult.  Why is that?  Often that voice in our head becomes very negative and convinces us not to be bold, not to take risks, not to put ourselves out there.  So what do we have to do to change our mindset to have confidence, clarity and taking action steps every day?

Confidence

Confidence is a muscle that must be exercised frequently or it gradually withers away.

During your life, every success you have ever had leads to confidence in your own abilities.  This could be a success as a child in academics or athletics.  Perhaps it was the great summer job you aced as a teen or work success you have had.

You can even gain confidence from things that haven’t gone so well.  That promotion you deserved but didn’t get, the salary increase you expected but didn’t happen.  Everything we do in life adds layers of confidence. We learn from both events that went well and those that didn’t.

Keep A Journal

One great way to get over the confidence hurdle is to write all the events that have added to your confidence in a journal.  When you are having a bad day and need to get your brave on, read your journal so all your successes are again manifested in your sub-conscience.

Assess your skill set and Build Up Your Weaknesses

Networking

If networking isn’t your strength, check out our previous article. If you are an introvert you might think that networking isn’t for you because you just don’t like being the centre of attention.  But honestly, introverts are the best at networking because they love to listen to others talk and be the focus of a group.  While you are listening you can decide if you can add value to the conversation and if the people you are meeting are the right fit for your tribe.

LinkedIn

If you are having trouble finding events where you can physically network, then think of LinkedIn as your virtual networking community.  It isn’t just a resume and job-hunting site.  It’s much more than that.  Have you thought of how you are connecting with people on LinkedIn?  Do your research before you connect with people on LinkedIn and use the personal note section to let people know why you would like to connect with them.   (Remember, it’s all about the why…..why someone should connect with YOU.)  Don’t use this note space to sell yourself!

Once you have connected on LinkedIn you can invite people for a virtual coffee date over Skype or Zoom to find out more about them and

Public Speaking

If public speaking is not your forte, consider joining your local Toastmaster chapter to gain the speaking confidence you need.  One business professional I know uses the local toastmaster chapter to test out blog post ideas.  The feedback from the toastmaster speech shows whether the topic resonates with an audience or not.

What else should be in your confidence toolbox?  In today’s world, some kind of social media presence can help you gain traction for your startup.  Either train yourself up to have that confidence online or if you have a budget, hire professionals to learn about your branding voice and have them be your social media spokespeople.

Clarity

If you have confidence in your abilities, next on the list is clarity.  Clarity about your business objectives, and your personal objectives.  Write two lists, one for your business objectives and one for your personal objectives.

Are your objectives CLEAR?

These are maybe’s, they aren’t just dreams, they are actual objectives that you are going to SLAY! Once you have everything written down, then prioritize your objectives by importance to you and your business.

Some of your objectives might be huge and seem overwhelming, so don’t tackle those right away, we will cover these in the section on Action.  For now, just look at your list and knock off a few of the items that are easy to conquer.  Because conquering some objectives will help give you confidence that you can tackle some of the more difficult tasks.

If you have big, clear objectives that are hard to accomplish, then break them down into smaller bite-size pieces and follow this tactical plan and take ACTION.

Action

Once you have the confidence and clarity, take action.  Yes, take action steps right now!  If you use the SMART goal formula you will not waste your time going around in circles.  You will have achieved success.

S specific (from your clarity list)

M measurable (what is the measurement you are going to use)

A actionable/achievable (Is the item on your list achievable?)

R realistic (It just can’t be impossible!)

T time sensitive (Putting a time frame around your goal makes you take ACTION)

This applies to your personal life as well as your business life.  Step out of your comfort zone. Are you in the mindset to find confidence, clarity and taking action steps to change your life?  We hope so because every day is too valuable to waste.

Adaptability – Why some entrepreneurs struggle while others fly by @WeAreMarsBook

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by Cheryl Bezuidenhout | Featured Contributor  

Whether you are a sole proprietor or a larger company with complex layers of responsibility, adaptability is so important to your survival. It is a keystone of your enterprise. Being able to pivot at a moment’s notice is what determines your success. But how does one build adaptability into their business plans? Where do you start being adaptable? And, why is it so important to be adaptable?

To create an agile business takes flexibility. That flexibility applies to daily decisions, long term goals or core strategies. Adaptability starts with flexibility. Flexibility is about taking a gauge of a situation and looking for opportunities to exploit. It is about accepting and exploring elements of risk. The risks present challenges and it’s up to you, as an entrepreneur, to get comfortable with how to handle risk. Without it, there are no growth opportunities. Without risk, there is no room to make mistakes, and no possibility of learning something that could leapfrog you to the next level in your business.

This is true of any stage of enterprise development – whether your business is two hours old, two years old, or twenty years old. The risks and the flexibility need to remain an integral part of what you do to grow and maintain your business. If you lose flexibility, it’s because you’ve taken your eye off the potential risks and opportunities and are coasting. It’s very difficult to shake off the inertia of a stagnant, safe position. If you try to keep doing the same thing you’ve always done, finding ways to avoid risk, your business approach is stagnant.

This brings me to my next point about making mistakes and how GOOD they are for you! Yes! I said GOOD. It’s true, mistakes really do help entrepreneurs develop, grow and innovate. Without mistakes, there would be no lightbulbs, no cars, nor a global movement to help save the planet from greenhouse gasses. Some mistakes are devastating and are massive setbacks. Take what has happened over at Volkswagen, for example. A corporate culture of cover-ups and a misguided sense that they could get away with an epic lie and cover-up, has led to an immense emissions scandal. VW’s deception has cost the company billions, led to criminal proceedings against senior management who were complicit, and set them back heavily. But they have learned one very important lesson from it all, you can’t cheat your way to the top. And part of that is knowing you have to own your mistakes, no matter how big you are.

So, my advice is, don’t be afraid to make mistakes. I’ve made plenty of my own as I’ve reinvented my career over the past twenty five years. Mistakes are important markers that tell us when we are not on the right track. They are not signs telling us to give up, or turn back, but rather to change tack. Pick a different approach, try a path that is unconventional, unused – higher risk – but keep moving forward.

Refusing to see the value in your mistakes is all about ego. Being stubborn and proud will only lead to failures that could shut you down for good. One of the most important steps to make in business is to admit when things just aren’t working. Ditch the ego, do a damage assessment and determine what you can do to fix things. When you embrace your mistakes and the setbacks they cause, you develop another key trait of successful entrepreneurs – resilience.

Sir Richard Branson is a great example of a successful entrepreneur. One of his key personality traits is an indomitable spirit that comes from a deep core of resilience. His setbacks have been numerous and he has risked much to be where he is, but he has done it all with a tough spirit. Toughness is not taught. It is built. It is layer upon layer of bitter disappointment and failure. The hard shell of resilience you need to pick yourself up every time you stumble is a process. But it’s worth every ounce of your suffering.

Resilience gets you through the dark and dry times too. Business cycles are what they are. Clients don’t pay on time. Economies slump. Business dries up over night, and it is no fault of your own when you find yourself surrounded by debts and obligations you can’t meet, and work is at a standstill. It’s times like these that you need to get creative. That can mean any number of things to you. It could mean getting a job to see you through the lean times. It could mean divesting of business capital assets. It could mean you learn how to knit so you can sell mittens, caps and sweaters on Etsy. Whatever your solution is, it’s your creativity at work, solving problems for you. Let creativity flow unrestricted as you come up with ideas. Try not to put pressure on it to perform miracles. Creativity can whither suddenly when too great a burden of responsibility is placed on it. Be willing to take huge risks in the name of creativity if have found a path that is truly compelling. I was late to follow my own dreams. After spending too many years doing what I thought was expected of me, I turned to writing. I wish I’d spent all those years writing, instead of doing graphic design! I arrived at a crossroads one day and chose the creative path that called out to me. It’s been scary and full of risks, but it’s also been the most rewarding thing I’ve ever done and I have no regrets about becoming a writer.

Creativity is the cap of achievement you get to wear when you choose to be an entrepreneur. You are seen as brave, independent, smart and successful. Begin to believe that you are all those things. If you are still struggling to find your way, think again about how you can apply some of what I’ve mentioned, if not all.

  1. Develop some flexibility.
  2. Learn from your mistakes.
  3. Build resilience.
  4. Find creative ways to make your experience as an entrepreneur a true reflection of your ability to adapt and succeed.

When you can say you’ve got all of these points down, you can say you’ve become adaptable, and if you are adaptable, you have a much better shot at being successful.

7 Reasons Companies Fail – Are you making any of them? by Monika Beck @SuccessHarbor

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by Monika Beck | Featured Contributor

More new businesses fail than succeed. Every industry is different. Some of the specific reasons a San Diego divorce attorney fails might be different to the reasons a Palm Springs alarm company fails. However, there are a few dangers that any business might face one day.

Here are seven common reasons that businesses fail.

 

1. Lack of funds

Insufficient funding can harm businesses in many different ways. If you can’t buy new inventory while waiting for payment on things you’ve sold, you can no longer trade. Unpredictable events and accidents can cause a crisis. Every business needs adequate capital to thrive. Even growing businesses can struggle with lack of capital.

2. Not understanding the competition

Every business has competitors. The most successful businesses keep an eye on their marketplace. They know what the latest trends are. They have a good idea of where things will be in 12 months, 5 years and 10 years time. They don’t follow their competitors but instead stay one step ahead of them. Businesses don’t understand their competition will always be at a disadvantage.

3. Growing too quickly

While all successful businesses grow and change, growing too quickly can be dangerous. Businesses that get too big too fast may lack the infrastructure to operate on a higher level. Slow and steady growth is the most stable path to success.

A fast growing business amplifies the mistakes you make.

4. Lack of marketing

Marketing is vital for any business. When times are hard and customers are few, marketing becomes even more important. This is why businesses should invest in marketing when they have the funds available. Good times can quickly turn bad if a business doesn’t have new customers coming in.

5. Lack of leadership

Every business requires similar leadership qualities. Business leaders need to have a vision and a plan for executing it. They need to trust their employees and delegate properly. Businesses which micromanage everything their staff does can make staff feel undervalued. They’re also wasting resources. The most successful business hire great people and then give them the space and tools to do their job.

6. A poor business model

Every business needs to make money. This sounds obvious, but many businesses fail because their business model isn’t profitable. A slim profit margin can be destroyed when things go wrong. The slightest downturn in business can be a disaster for a company operating on the edge. Businesses need a long-term strategy for making money in good times and bad.

7. Lack of planning

Failing to plan is planning to fail. Even if you don’t have a formal business plan, you still must carefully plan ahead. Successful entrepreneurs make plans regarding financing, competition, pricing, sales and marketing, and capital.

Some industries have legal planning obligations. For example, many property businesses must use a reserve study company to ensure they can cover repairs and maintenance. But planning to cover essential costs is just one aspect of planning. Businesses also need to think about how things might change in the future and how they could adapt. Every step a business takes should be part of a plan for success.

These seven mistakes are common to all industries. Every business can learn from the successes and failures of others. Copy what works and avoid what doesn’t.