5 Must Do’s Of Successful Entrepreneurs

 

  1. Take Purposeful Action
  2. Embrace Your Mistakes
  3. Networking
  4. Resist the Negativity of Nay-Sayers
  5. Give Without Expecting Anything in Return

 

Easy right?

So if the above actions lead to success why isn’t everyone doing them? Why do so manysettinggoals entrepreneurs struggle to succeed? Let’s look at them closer.

 

Take Purposeful Action

When you’re a busy entrepreneur with multiple visions dancing through your mind, it can be difficult to choose which one to act on. Staying true to your core vision and purpose should be your filter for prioritizing ideas for action. However finding the space and clarity to think this through is the tough part, it’s important to have someone you trust to bounce ideas off of. Regular meetings with someone who’s able to help you clear the brain clutter is crucial to determining which of your biggest ideas should be acted on and when.

 

Embrace Your Mistakes

Well no problem right? Ha! Seeing as how most entrepreneurs have perfectionism as part of their DNA even the word mistakes makes one cringe. The reason perfectionism slows us down is that even though we know learning from our mistakes is important we rarely have the time, space and clarity of mind to sort through the mistake for the all-important lessons.

Having a group of trusted advisors who will dissect mistakes with you will give you much needed perspective in much less time, saving you from further mistakes and wasted time (money).

 

Networking

I know ahhhhhhhhhh, right? Just the thought can make an entrepreneur say “No way.” while rolling their eyes. I understand, being myself a non-lover of networking it took me a while to integrate this onto my “important actions” list. Let’s try to remember that this is where we will meet the trusted advisors who will provide us with clarity and short cuts through all of our great ideas and time sucking mistakes. The right advisors can save our sanity as well as our money, so maybe this should be number one on this list.

 

Resist the Negativity of Nay-Sayers

Easier said than done when some of the nay-sayers are your friends and family; you know, the ones trying to save you from yourself. Believe me I slogged my way through my share of “this will never work’s” and “wouldn’t there be a better time to do this?” To be fair, I was nine months pregnant when I started my business, but still…Don’t underestimate the value of other entrepreneurs, they get it, and it’s nice to have someone in your corner through the tough stuff.

 

Give Without Expecting Anything in Return

There are many ways you can help other business owners and aspiring entrepreneurs. Sharing your experience, knowledge and resources builds trust and expands your network of trusted advisors. Remember, “Life is an echo, what you send out comes back to you.”

How does a busy entrepreneur find the time to put these 5 Must Do’s to work?

YOU MAKE TIME. Think through the people in your life and come up with a list of those with experience whose opinions you value. If you find you have a shortage of trusted advisors who can help you hold yourself accountable to the above actions then get puzzle_piecesnetworking. Seek people with experience in areas you’re not strong in and ask them to coffee. Create an advisory board and schedule quarterly meetings. Join an entrepreneurs peer group, most meet monthly and provide a variety of business experience and support. Find someone who’s able to help you clear the brain clutter and prioritize all your “Must Do’s” then make the time to meet with them weekly. Will you take the necessary actions to make your business a success?

 

How can I help?

 

Suzanne Lyon

612.801.9320

Suzanne@lyon-sfocus.com

 

 

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Owner Dependence or Independence? Your Choice

dependenceOwner dependence can be the biggest hurdle business owners will face when it comes time to hand over the reins. Whether you just want more time to enjoy your life while hanging on to the business or you find yourself ready to sell this is an issue you’ll want to solve years before it comes up.

Dependence on the business owner is the largest obstacle small and medium size businesses face when it comes to taking much deserved time off or maximizing their sale value. Cutting your hours in the business down to just 40 hours a week can’t happen if you are the reason the business runs. And buying a business that can’t operate without the owner is a risk most buyers aren’t willing to take.

The biggest barrier to fixing the owner dependence problem is usually the owner themselves, who are un-able or un-willing to let go. If you have employees who are willing to step up but find yourself thinking that none of them can do anything as well as you can, then you likely aren’t delegating enough. If you’re not delegating then no one is going to be there when you are ready to hand over the reins.

Overcoming the “owner dependence” issue requires you to put systems processes and accountability measures in place. This includes employee training programs for all company operations as well as fully documenting standard operating procedures. Owners often underestimate the time and training needed in order to adequately prepare the team to successfully run the business in their absence.

independenceUnless you plan to be one of your own employees for the rest of your life the time to start preparing is now. Here are 5 must haves that are key to your team being able to run the business according to your vision with or without you.

  1. A strong 2nd in command
  2. Documented standard operating procedures
  3. A training program for all staff, entry level through leadership
  4. A delegation, results measurement and accountability system
  5. Clear communication

If any of these five items are weak or missing it’s time to prioritize them and make a plan to put them in place. A Vision & Action Plan is a good way to identify gaps and areas that need development. Connect with me for a complimentary “Vision & Action Jump-Start” session to start identifying ways to overcome “owner dependence” in your business.

 

Suzanne Lyon

Lyon~S Focus

612.801.9320

Suzanne@lyon-sfocus.com