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Mindsets For Success

By Blogpost

Entrepreneurs are different in one way or another. They can differ in how they approach things or how they formulate their strategies. They also have different mindsets that contribute to their business success. It really depends on what line of business they are in as well as on their attitudes. To make it even more complex and diverse, you also have to take into account the audience’s varied attitudes and behavior and how they will approach them. What I’m trying to say is that there is no definite formula on how to succeed in business. It is a combination of experience from both successes and failures. Add well thought out plans and excellent team effort. Identifying weaknesses and using them as strengths. And maybe a little bit of luck in some cases. A combination of these things and more can increase your chances but failure is still a possibility.

 

You have to prepare yourself for the uncertainties that come with running a business. Failure is only one of the things that you have to prepare for. Success can lead to complacency, and if you become too complacent, you stop trying. You stop innovating. And your competition will leave you behind. The ever-changing market can also catch you off guard, which can lead to negative results. With all these different factors in play, you need to examine your current mindset, make adjustments if needed, adopt new ones that would make you prepared for what’s to come.

 

Know Your Customers

 

Imagine this. You just came up with a great idea for a product. You then tasked a team to develop it and to come up with a commercial version. After all the research and development period, your company was able to come up with a commercially viable product. You start selling it but the sales results are way less than you expected. What happened? You missed one important part when running a business. You need to know what your customers want. The best way of doing this is by engaging with your customers. You’ll be able to see from their point of view and gain valuable insight into what they are looking for in a product or service.

 

Watch And Learn

 

If you’re running a competitive company, it is best to put your ego aside. Admit that you do not know everything. You cannot run your company alone no matter how good you are. Identify your weaknesses and learn from others. Watch how more successful companies do it and take away tips and ideas that would fit in your own company. This is about observing, being adaptable and learning from others to be able to reach new milestones.

Signs That Your Organisation Lacks Accountability

By Blogpost

Empowerment and accountability are critical components in company culture. Accountability is an overused word and is almost a buzzword in any company but is surprisingly an underutilized one as a concept. As leaders, it is our responsibility to instill this concept in the organisation. We call for a team meeting and preach to the team members about the importance of taking responsibility. But it is not going to be that easy. We still see instances of blaming and pointing fingers. What most usually do is try to re-enforce it again by conducting another meeting and talk to the team about accountability. It is a painful cycle with you hoping that it will work the second or third time around.

 

Repeating the process until you get it right can work but it will cost you time – time that you may not have. A better way of doing things is to get to the root of it. Identify what the problem is and not just tell the team that they are not achieving the desired results. It’s obvious and not constructive. You need to tell them why they are not getting the desired results, what must be done and how the negative results affect the whole organisation. A business is a team effort and one undesirable result, even a minor one, can affect the whole team. This type of approach is a good way of promoting accountability in the company by laying out what the stakes are. Watch out for the signs of lacking accountability so you can identify and work on them as soon as possible.

 

More Concerned About Keeping Their Jobs Than Doing Them

 

The difference between keeping a job and doing a job may be minor but the impact is way bigger. Employees who are trying to keep their jobs become so desperate that they avoid taking any calculated risks and become less thoughtful. Their creativity is stifled and have no new ideas to present. They try so hard to avoid any mistakes that once one happens, they start pointing fingers. This can also foster the “us vs. them” type of mentality which does no good in business.

 

Vastly Different Workloads

 

Each employee in a company will naturally have different workloads. The problem arises when multiple individuals with the same position have vastly different workloads. This means that the leader is assigning critical tasks to one or two individuals and the minor ones to the rest of the team. This can build resentment towards the leader and the team members who have nothing else to do. Everyone on the team needs to be accountable for all the tasks. Accountability should not be reserved for just one or two team members.

Foundations Of A Successful Business Mindset

By Blogpost

Entering the business world is not for the faint of heart. You need to have a strong will to power through everyday challenges. You must have an open mind to adjust to the ever-changing market. Being your best each and every day allows you and your business to stay on the path to achieving your goals. It’s about being confident enough to try new things and humble enough to accept and learn from failures. Being aware of the competition and connecting with your audience is also a must. All of these and more are the components of being successful in your business endeavors. Sounds simple, right? It can be if you have a strong foundation to build on. You cannot just flip a switch and immediately have these traits. Just like in business, it is about being disciplined and being patient. It is a slow learning process that pays off big time in the end.

 

Entrepreneurship always starts in your head. You come up with an idea and you decide to make a business around it. But before you do, you also need to have the right mindset to go into business. Even if you are a veteran of the game, it is still beneficial to polish that mindset or re-examine it. There is always something new to learn or improve. Never go stagnant. Always move forward. That’s the only way you can reach your goals.

 

Be Realistic

 

It’s okay to dream big but you also need to stay in touch with reality. When you have that awesome idea for a business, you need to check if it is achievable with your current resources. You may need to scale it down but it doesn’t mean letting go of that big dream. Take it one step at a time and with enough hard work, you will be able to achieve that big goal. You need to accept the fact that there is no stability in business. Stay on your toes by being realistic.

 

Be a Visionary

 

Great entrepreneurs will not start a company just for the sake of it. They are visionary leaders who have a clear goal and path. Have that sense of purpose, vision and passion to set a cohesive goal that your team can work towards to. Being visionary is about solving problems with a passion. It is about wanting to change the world and making things better for everybody. Shake things up!