WHAT YOU MUST DO WHEN YOUR BUSINESS KEEPS FAILING.
~3.9 mins read
Are you a small business owner, or an entrepreneur actively involved in generating more cash flows or stream incomes and your business is having a hard time growing as it ought to? Or maybe it's even FAILING capitally. What do you do next?
This is something every entrepreneur must do since we all are bound to experience failure, Tough, Rigid failures that would shake us to the bone and wear us out.
In such a case, the average entrepreneur might think such business is not to be ventured by him or is not the right business for him and would just give up!
This content would groom you as an entrepreneur on what next to do when you have tried all you can to make the business work out but it's just still not working out.
Before I take you deep, I want to be FULLY aware that everyone of us experience failure, it's just how each of us handle such failure that determines who will or will not be successful. Also remember that quitting at the point of failure is just like pouring water into a basket. It'd in no way solve that money problem!
So you've tried, tried, tried and failed,what must you do next? Check it out!
1. Give up!
Give up?! "What do you mean give up?" you might be asking...
What I mean is give up trying and trying. Retreat yourself for sometime.
This is the first and the best strategy to make that business work again. When you retreat, spend some time alone with yourself and your team ( if you've got a team) if possible.
The time of retreat is not the time to go about spending moments with friends to forget your failures neither is it the time to totally forget about that business failure and go about doing other things. Note that it's a time for renewal. It's a time for isolating yourself and beckoning on your top thinking creatives!
2. Review yourself.
What this segment means is to check up on yourself, your methods, your strategy, your ideas. Carefully examine the business right from the day you started it up and see all the methods, creatives, ideas, opportunities, solutions, strategies, attitudes, inspirations etc used in your business and start noting them down in a book. Make sure they're all noted down so you could find the best way to solve each and very problem.
The review method is the best way to crosscheck loopholes in your business.
3. Self improvement.
To make your business work again, you'll have to do alot of thinking. No one reigns without the use of the brain, it is the use of the brain that establishes the reign of man!
T. Harv Eker said that your money only grows to the extent you do. You need to improve on yourself. You need to begin learning and re-learning till you yourself have grown in financial literacy.
You have to start taking courses about business growth, success tips etc, read books by Brian Tracy, Robert Allen and a whole lot of others. I would focus a whole lot on this aspect because this aspect determines how far your business goes and grows.
You'll have to subscribe to webinars on business growth, subscribe to newsletters on business and related topics.
Some of the books I recommend to you are;
The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael Gerber.
Start Small, Finish Big: Fifteen Key Lessons to Start and Run Your Own Successful Business by Fred Deluca.
Mastering the Rockefeller Habits by Verne Harnish.
4. Strategize!
To make the most adventure of your time you need to strategize and how do you strategize? By deep thinking of course! It is brain work that make things work! Be committed to brain work which is also strategic thinking. One common characteristics of highly successful people is reading and thinking.
Why didn't I say after writing down all the problems your business is facing, start thinking of ways to work it out? That's absolutely wrong! Where do you gather solutions from when you're still have the same old level of thinking. You'll obviously still gather vague solutions which will not work out at the end. That's why I recommend that you put down the old ways of running your business first, then improve yourself maximally to the full then come back and start strategizing solutions to those problems.
Every information you've gathered from the books, webinars newsletters and others, you take them to your engine room and start analyzing, diagnosing and dissecting until you can draw maximum value in addressing your situation if you really want to have a change of position.
Great things work with the help of brain work. Life is practical not mystical, so we need to give a practical approach to challenges we face!
No one can think for you! Make the decision to start strategized thinking, only then would your situation begin to work out for the better.
For those yet to follow me, you're really missing much.
Must See Reasons Why Multitasking Is Killing Your Business
~2.6 mins read
Assuming performing multiple tasks is one of your business propensities, you're not helping yourself. The possibility that performing multiple tasks assists with accomplishing more is indeed a myth, especially in business.
Performing multiple tasks affects our capacity to create focus - we're just more powerful while doing one thing at a time.
The following are 5 valid reasons you want to quit performing multitasking.
1. Know That Your Brain Is Not a Fan
Certain individuals invest heavily in having the option to shuffle many assignments immediately. In any case, when you do this, your brain isn't centered around any one errand. For example, we frequently meet someone new and in a split second fail to remember their name since we're occupied and we can't process or keep the new data.
The absence of concentration and focus can hugely affect your professional life. By doing numerous things at once, you never center your focus around anything appropriately. What's more, this inhibits your efficiency and the progress of your business.
2. More Tasks produce More Mistakes
This is the result of the absence of concentration. At the point when you do numerous things together, your brain gets conflicted between them. This implies increment in your mistakes and you don't give your all. Multitaskers are terrible at sifting out unwanted information. This implies there's a probability of mental cross-terminating and cross-over between errands.
You can't stand to commit these errors. All things considered, offer each errand your full consideration, independently.
3. Performing various tasks Is a Waste of Time
At the point when you attempt to follow through with little jobs while chipping away at huge ones, you wind up with nothing to do as opposed to saving it. This is on the grounds that your brain needs to reset to each undertaking following the shift.
Performing multiple tasks thwarts you from keeping up with stream states. For instance, when you read a dazzling book you feel like time stops. You take a gander at the pages you've perused hours after the fact and you're shocked at the amount you've perused. Likewise, in business, placing laser focus can help your efficiency by multiple times.
4. Performing multiple tasks Inhibits Creativity and Productivity
By committing your attention to several tasks at the same time, you lack the working memory to think of novel thoughts and ideas that are innovative. You'll finish your work in average time and level, however, it will lack significance.
5. Performing various tasks Causes Burnout
Completing a few things without a moment's delay makes the brain transition from one task to the next. The quick and consistent exchange engaged with performing multiple tasks causes the mind to consume fuel quickly thus we feel depleted and confused - even before long. This is on the grounds that we're quickly exhausting supplements in our brains.
Taking into account the reasons over, it's not difficult to see the reason why the benefit of performing multiple tasks is a myth. Also, it assists nobody with accomplishing anything significant effectively. Quit attempting to do everything simultaneously! Smooth out your cycle and make the most out of your assigned work time, to help your efficiency and develop your business.
Every successful entrepreneur has committed errors in their business at some point. It's all-important for the educational experience or learning curve. In spite of the fact that mix-ups will occur, you can keep away from various normal business botches.
Thanks for reading.
I will see you at the next one.
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Office Procedure is a state of an organization or business which has its set of rules of system running its affairs. The ways, process and procedure for doing a thing usually make up an operation.
In this article, I will be showing you the importance of Office Procedure:
1. It helps in the smooth running of the office, reduces delay and solves problem in the system.
2. It helps work to be done faster.
3. It helps to minimize and prevent fraudulent activity.
4. It makes training of the job easier.
5. It helps in overall coordination of the various section of the organization.
I will freestyle it, I hope you get it. On the surface there are many businesses, in reality there are mostly two types of businesses.
There is the long term business, and there is the short term business. Most people settle for the short term business without understanding what they are settling for.
Short term businesses lack innovation and this is a majority of businesses in the world. They instead rely on copying strategies and innovation from bigger companies. It's not a bad strategy, it just doesn't encourage continuity and these kinds of businesses are easy to fall to more innovative businesses.
I don't much time now, let's talk about long term businesses next time. I will also help you in choosing your type of business and show you how to start the long term kind of business.
A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a form of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.
Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
Humility And Business: Their Complicated Relationship
~0.5 mins read
If you are running a business and you think begging your friends to patronize you is the best way to start, guess what?
That would only work if you are running a business short time.
If you are trying to build a brand, your friends (and those you begged) would leave you after their first one or two buys to look for a better product or service, especially if your product isn't standard enough.
In the same way! If you start a business and focus on producing quality, even your friends won't come, it's your enemies and strangers who would patronize you.
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