1.The owner is not mentally prepared or motivated to run a business.Action: Before becoming a business owner in the first place, determine if you truly want and will operate under the Business Owner "Game Rules." If you choose to, do so IMMEDIATELY, and COMPLETELY! To survive, let alone succeed, you must commit to operate under the Business Owner Rules 100%. Otherwise, you should seriously consider playing one of the other "Games of Work" that best suits your desires.
2.The business owner is unable to operate a business. Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
3.The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in.Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learning how to improve your capability to run your business to avoid the many errors others make. Frankly, the rules are simple, easy to learn, and are based upon common sense, and high integrity
4.The business owner tries to execute all three of the three basic functions needed for a business to succeed, alone and without help. Action: Get help from someone, a partner, an employee or an outsourcing resource to perform at least one of the two functions for the business. This way that function can be executed at a very high level and will allow you to focus on executing no more than the other two at a similar high level. Normally entrepreneurs initiate businesses where they bring the technical skills and motivation to the table.The three skills necessary to win in the business game are: Technical Skills of the business; Managerial Skills to manage yourself, time, things, concepts, and people; and Visionary Skills to set future goals and organize the business so that current activities will contribute to them (See The E Myth Revisited by Michael Gerber).You probably bring Technical Skills to the table, but to succeed, you will also want to master the Managerial and Visionary Skills. You are not born with these skills; you learn them. You are born with natural talents towards certain skills, but you have to work to perfect them. Michael Jordan, and Tiger Woods were obviously born with unbelievable talents, but they became successful only because they worked very hard at developing the skills they
needed to win. Likewise, you will want to work to develop your Management and Visionary Skills (from the Business Owners Perspective) and continue the process throughout your business ownership career.
5.The owner starts a business for the wrong reason. Action: "The only reason to have your own business is to Make a Profit." Though this may sound cold and greedy, you will realize rewards and compensation only from your business profits. If your business doesn't make a profit, you get nothing. You might even discover you have been working for nothing, or worse, working to increase your debt.This does not mean you have to avoid meaningful, and emotional reasons for living. Not at all. The profits and personal time gained from the business will provide you the resources to pursue your life goals. Even religious institutions require profits and time to pursue their passion of serving others.
6.Business owners do not completely consider the perspective and motivations of potential customers. Action: Learn as much as possible about your potential customers. Design and provide products or services, delivery methods, pricing, and ways to communicate with them around their perspective. This might require that you get help stepping out of your own perspective and into someone else's.
7.Business owners insist on going it alone without asking or accepting outside help. Action: Find and use Advisors, Mentors, Coaches, and/or Trusted Partners who have the knowledge and desire to educate and guide you, with your best interests at heart. All professional athletes have one, if not several, coaches, advisors, mentors, who help them become much more successful than they ever could be on their own. Coaches evaluate your ability to run your business. They will bring you outside the stress, money, and time pressures you feel from working IN the business, to help you make the changes to result in improving your profits and reducing your pressures. You will become much more successful with advisors. Asking for help is not a sign of weakness, but a sign of your desire to improve. Learning from the trials and errors of others is an enjoyable and profitable experience. Once you find the right advisors, you learn to prevent and correct mistakes you might otherwise make.
Source by ezinearticles.com
2.The business owner is unable to operate a business. Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
3.The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in.Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learning how to improve your capability to run your business to avoid the many errors others make. Frankly, the rules are simple, easy to learn, and are based upon common sense, and high integrity
4.The business owner tries to execute all three of the three basic functions needed for a business to succeed, alone and without help. Action: Get help from someone, a partner, an employee or an outsourcing resource to perform at least one of the two functions for the business. This way that function can be executed at a very high level and will allow you to focus on executing no more than the other two at a similar high level. Normally entrepreneurs initiate businesses where they bring the technical skills and motivation to the table.The three skills necessary to win in the business game are: Technical Skills of the business; Managerial Skills to manage yourself, time, things, concepts, and people; and Visionary Skills to set future goals and organize the business so that current activities will contribute to them (See The E Myth Revisited by Michael Gerber).You probably bring Technical Skills to the table, but to succeed, you will also want to master the Managerial and Visionary Skills. You are not born with these skills; you learn them. You are born with natural talents towards certain skills, but you have to work to perfect them. Michael Jordan, and Tiger Woods were obviously born with unbelievable talents, but they became successful only because they worked very hard at developing the skills they
needed to win. Likewise, you will want to work to develop your Management and Visionary Skills (from the Business Owners Perspective) and continue the process throughout your business ownership career.
5.The owner starts a business for the wrong reason. Action: "The only reason to have your own business is to Make a Profit." Though this may sound cold and greedy, you will realize rewards and compensation only from your business profits. If your business doesn't make a profit, you get nothing. You might even discover you have been working for nothing, or worse, working to increase your debt.This does not mean you have to avoid meaningful, and emotional reasons for living. Not at all. The profits and personal time gained from the business will provide you the resources to pursue your life goals. Even religious institutions require profits and time to pursue their passion of serving others.
6.Business owners do not completely consider the perspective and motivations of potential customers. Action: Learn as much as possible about your potential customers. Design and provide products or services, delivery methods, pricing, and ways to communicate with them around their perspective. This might require that you get help stepping out of your own perspective and into someone else's.
7.Business owners insist on going it alone without asking or accepting outside help. Action: Find and use Advisors, Mentors, Coaches, and/or Trusted Partners who have the knowledge and desire to educate and guide you, with your best interests at heart. All professional athletes have one, if not several, coaches, advisors, mentors, who help them become much more successful than they ever could be on their own. Coaches evaluate your ability to run your business. They will bring you outside the stress, money, and time pressures you feel from working IN the business, to help you make the changes to result in improving your profits and reducing your pressures. You will become much more successful with advisors. Asking for help is not a sign of weakness, but a sign of your desire to improve. Learning from the trials and errors of others is an enjoyable and profitable experience. Once you find the right advisors, you learn to prevent and correct mistakes you might otherwise make.
Source by ezinearticles.com
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