Win or Fail…Its All Good!

Here's the key!

In business, as business owners there is often a lot of pressure upon us, right?  Every decision we make can either make or break our company…so we think?  It can be as simple as signing an invoice for merchandise we don’t know if we need, to implementing an idea that we are not sure is going to work?  And then do these decisions work in alignment with our VISION and MISSION?  Does it fall in line with the SMART goals we set?  Do we need to reevaluate the decision in front of us or do we reevaluate the entire VISION?  Too many questions and not enough answers.

We talked about FEAR – Facing Everything About Resisting! 

We know it exists but we know now that this is a constant so we are going to move on from that. We have tackled that bully!   Right now you have to make a decision based on a smart goals you have set.  It sometimes easier said than done.  It is all written on paper but now comes the time for implementation.  And sometimes it is the smallest step but the most significant.  To top it off, you have get going one way or the other because time is of the essence.

So here what we need to do?  Here comes another acronym that you may have seen in developing your business plan.  Well it comes in handy here as well.  With every decision you embark on you should consider its SWOT. 

Strength    What is good about the decision?  Is this going to bring you closer to what you want to accomplish in the long run.  This 1^st step for instance to incorporate your company.  This will protect you from liability and finalize your commitment to this venture.  We know filing the paper work is one of the smart goals now to put pen the paper.

Weakness   What is the worst that can happen?  If this doesn’t work then what would be the fall out? Plan your plan B now…you don’t always want to think the worse but for two minutes…just think what is the worst that can happen and how will you recover.  The worse in this case, you change you change your mind and you are out of the funding for filing the paperwork.

Opportunities What is going to come out this? How wonderful is this going to be for your company?  What are the possibilities once this decision is made and followed through?  Becoming incorporated puts you on the map as a legitimate business and protects from liability and provides tax benefits. This is huge.  Will this make you do a happy dance?

Threats Who and what can come in and jeopardize your business from this decision? Identify specifically those issues, people, places and things that can hurt or sabotage this decision follow through.  Know who your opponents are so you can seek and destroy… (she smiles).

IMPORTANT!  You are NOT ALONE!  Every business has the same conflict; Fortune 500 companies to the corner store manager.  I can advise you….you will ALWAYS have these type of decisions to make…isn’t that comforting?  But that is okay because you have decided to build this business because you believe it in…because you have a vision and it is clear to you.  Use this method and then use some of your gut.  Go with your inner thoughts as well but it never hurts to seek insight from trusted resources as well.  When in doubt, when going through your SWOT…RESEARCH!  Find out what others have done in the same process and network with like minds, knowledge is power and there NOTHING wrong with asking!  The worse question is the one you don’t ask.   It may work or it may fail.  The key is to identify from each WIN and FAIL…what is the lesson learned.  Each decision you make regardless will help you advance to the next level.  That which makes us stronger…REMEMBER THAT!  And remember a fail is a win because in it is a lesson!

Next Blog – Branding 101!

Leslie Crudup for the Business Liaisons – Business and Life Coaching

www.thebusinessliaisons.com

SMART GOALS for STARTERS!

You are SMARTER than you think!

 

 

Every business owner has a dream right?  The big vision!  The ultimate plan to develop and build a successful business venture that will then answer all of our wishes.   Building this business will clear you from debt? Take you on the much needed vacation.  Secure financing for children’s education and livelihood.   Maybe your dream is to be stress free just doing something you love.  To be able to control your own hours so you can walk on the beach whenever you want?  Or have the time to spend with your family more often.

Specific

Vague has not place here.  You have to be detailed in what it is you want or you are sure to miss the target.  Goals should be specific so you can focus your efforts on obtaining detailed and expected results.  Details leave

Measurable

You can’t tell where you are going unless you know where you have been.  It is not just important to focus on a goal but to be able to tell if you are on track with them.  Your main goal is always made up of mini short term goals. Know what they are so you can give yourself credit for each and every accomplishment.

Attainable

Goals have to be attainable.  Sometimes from a distance we can’t always see if this is the case.  This is why it is important to continually assess if the goal you have is one that you can really obtain. This is where you may need to reevaluate what your skills are, or maybe your finances or anything that you will need readily to reach your goal.

Realistic

Let’s be for real…really.  Let’s be for real!  Goals have to be realistic. It is okay to give ourselves challenges but we don’t want to set up for failure either. It is important to set goals that are realistic, however, not necessarily so simple that they will pose no challenge.

Timely

Timeliness is next to accomplishment!  It is all about timing and putting an end date to each task so you can assure yourself the final goal is on its way.  When we fail to set a time to things, we are more easily persuaded to move them out.  We don’t really commit and a goal just continues to get further away from us.  Challenge yourself to use time to keep on track.  Here is where being realistic goes hand in hand with being timely as well.

SMART Goals work for any goal, personal or business. Below is an example of a SMART Goal in action.

 

Broad Goal: I want to start a business.

• Specific: I will sell handmade cards through Etsy.com.
• Measurable: I will be ready to take my first Etsy order within four weeks, and I will aim to sell a minimum of five cards per week.
• Attainable: I will get set up on Etsy first. Then, I will build an inventory of 30 handmade cards to sell. Finally, I will promote my business and build customer relationships through word of mouth, referrals and local networking.
• Realistic: Selling handmade cards will allow me to benefit financially from my favorite hobby.
• Timely: My Etsy store will be up and running within four weeks, and I will have an inventory of 30 cards to sell within six weeks.

How did I write my SMART goals.

1)     I started writing down what I would like to do with my life in the next year. I wrote down anything and everything so I could get my thoughts down on paper.  I mixed business and personal and had a brainstorming session.

2)     I then categorized them – just labeled each one personal or business.  You can even highlight the personal in one color and the other in another. 

3)     I then crossed off those goals that I knew REALISTICALLY would or could take me longer then the timeframe that I sent.  E.g. You are not being realistic if you think you are going to lose 100 lbs. in 3 months.

4)     I rewrote my goals on two different documents – One for personal and one for business.

5)     Now this part takes time but if you want to seriously make the achievement you have to dedicate the thought process up front so it is attainable.

6)     I took each goal and attempted to supply the SMART techniques.  For each goal, ask yourself. Is it specific, measurable, attainable, realistic and timely?  If yes, the goal stays, if not then you need to cross it off or update it.

7)     THE MOST IMPORTANT PIECE.  MAKE THEM VISIBLE so you see them every day. I literally tape mine to my lamp on my desk so I have to read them.   But you can make them your screensaver, put them on your refrigerator or tape next to your VISION board or calendar!  You want to have them where you are FORCED to see them and respond to them.  This way you will not fall victim to OUT OF SIGHT, OUT OF MND.

It does not matter if there are more personal than business goals or vice versa. The important thing if they are in front of you now and hitting you on the head every day. 

SMART GOALS are not so set in stone either.  It is perfectly okay and actually preferred that you visit your smart goals often, say every other week or month.   Do you want to change it entirely?  Not necessarily but it is okay to TWEEK it if need be.  Sometimes right out the gate you can be ambitious and then the 1st week in realize the task at hand.  Perfectly natural BECAUSE no ONE is perfect.   The key is to take action and get moving on them.  If you fall, get up and if you need to realign the strategy, that is fine too.

I also HIGHLY recommend documenting….write in a journal or audio.  I know writing is more therapeutic but if you are pressed just refer to audio.  Express your accomplishments and challenges whenever you can.   You have to be your own cheerleader. ALWAYS!

Tapping into Fear!

Welcome to my blog!  I am excited about having the opportunity to learn more about you. Yes my blog is about business and about building dreams, your dreams!  What are some of the items you have always wanted to chime in on about learning and growing a successful business?  I hope if I can share with you what I am going through it will inspire you to do the same.

My blogs are short and to the point but I hope to give you something valuable with which you will walk away and be empowered.

"Courage isn't the absence of fear -- it's moving through fear," says Marti MacGibbon, a motivational speaker and the author of Never Give in to Fear.

One important lesson I have learned in building my own business has been getting rid of FEAR!  Now I am sure there are many acronyms for the word and I am sure they are all valid. But here’s my thing. I found out what it means to me. 

 Facing Everything About Resisting! 

Sums it up for me because I know how often I resist moving forward and I can procrastinate like the best of them. I know it is only because I have told myself that I can’t do something. I have convinced myself that what I want to do is unattainable.  I admit it, I am my own worst enemy.  Who is with me?

But I will tell you that once I identified FEAR, I made a conscious step to walk around it.  It was as if as soon as I saw that wall coming I reverted my direction.  Sounds silly but think about it, we know it when it is coming.  When I decided to go into business coaching, the 1^st thing I told myself was I couldn’t because I didn’t think I was  business coach.  WOW!  I can’t tell you how long I wavered and resisted just going with my initial thought.  Time passed. YES TIME YOU CAN’T GET BACK. And then someone actually said to me…you should go into coaching!!  Now why did it take me so long!!  I was resisting because I didn’t think I was capable.  What I didn’t do was FACE it and say let’s try it and see where it goes.  And so here I am.  And what I know now about being on the other side of FEAR is that……IT WASN’T SO BAD!  It looked like a cliff on the other side but after I realized it was just a sizable jump…just my size.

So I talk about FEAR because this is the 1^st step to going into business…IDENTIFY what you are resisting and taking claim to FACING it.  Sometimes you have to break things apart, write them down, and look at them on paper.  You should do it…it brings a since of commitment and empowerment to see it written and then to write down how you will overcome it.

If you have thought of going into business OR you are in business and you are stuck. Ask yourself out loud in the shower…What am I afraid of????  You will either be surprised that there isn’t anything really or what it is really is not that bad.

Ways to combat fear are the simplest and I can tell you from experience.  When you are facing an obstacle and concerned about next steps, meditate…take long walks, take a break from the anxiety.  I always say sometimes you have to step out and take a walk around yourself.   It helps establish clarity. 

 

What are some of your fears when you think of starting or moving forward with your business? 

 

Is it lack of money?  Become financially savvy about how to save money and more importantly make you money work for you.  If you don’t have time to do it then find a savvy friend that does?

Do you know when to hire or stay in the ONE WOMAN SHOW? Finding friends and family that can help you are a gift, or if you have to have an extra set of hands, contract out, work with interns.

 

My time is up…I just want to get your feet wet.  I want you to start thinking of what motivates you every day and are you living to your fullest potential?  What is stopping you?  I talk more about entrepreneurship but I really want you think over all.  Is it family and obligations, education and knowledge, time management?

Don’t let FEAR hold you back on any level for anything you want in life.

NOW LET’S GET DOWN TO BUSINESS…MINDING YOUR BUSINESS!

Thank you for stopping by see you next week!!!

Next BLOG – SMART GOALS!

www.thebusinessliaisons.com