Our businesses are NOT growing and developing

Business people are focusing their activities in the wrong direction. Sure in order to experience success one has to work hard; however, there has never been anything called "Work hard and Get Rich". There is a book written by Napoleon Hill some time ago called "Think and Grow Rich". Yet, many haven't read it though they are seeking success. 

If you are to be a leader, you have to be a reader. 

Success is a system. Yet people are not getting it because they are not receiving the information that is all around.

The title of this article will probably wonder what I mean, well here's what I mean:

• Entrepreneurs know how to put money into their businesses, but they don't know how to get it back out: When you make an investment into a business, then stop trying to get paid via a salary. When you do this, you are demonstrating the wrong mindset. You have to have a strategy that you can - legally - use when you are in business. Business people don't want to invest in learning about the different forms of business setups. It seems like attorneys suggest the incorporation so they can get the fees for incorporating the entity. The people, their clients, who are in business don't understand why they even incorporated. 
• The business has a lot of moving parts, being good and something doesn't mean that you'd be good at running a business in that area. Here's what I mean. E.g. a good plumber doesn't necessarily run a great plumbing business. They want to focus on plumbing. They don't want to do the administrative aspects of it. Therefore over time, the really successful plumbers realize that business is a team activity. 
• Why don't businesses grow their profits and thrive? The simple answer, the principles have the wrong mindset. Many don't have the mindset for handling large sums of money. When they do get the breaks they go on spending sprees until they get back to the level of money they are comfortable handling. Oftentimes, they make bad decisions along the way. There is a need to ask and answer some long, hard questions. 
• Dealing with businesses over the years, I have found that the owners are quick to settle within a comfort zone rather than strive to go to the next level. Does this mean that their goals are set too low? Perhaps not, they set it to what they want. E.g. Some people just want to have gainful employment rather than leave a legacy. What this tells me though is that we seem to be conditioned to study for a grade rather than have the discipline to study to get paid. Studying to get paid doesn't have to be formal. It can mean just reading, listening to the material or even taking short courses to keep informed about developments in business. 
• Not enough business people know/understand taxation, therefore they are unable to do proper tax planning to make the tax structures work for them. The result is the business haemorrhaging by paying more taxes than absolutely necessary and failing to make claims to which they are entitled. 

Are there other considerations? Yes, but this is not a consultation to diagnose every scenario that impacts all businesses. Just enough to get you to recognize that you need to have someone in business development help you. 

Feel free to visit our website to get a bit more information on how we can help businesses. Additionally, you may contact me directly so that our team can assist you. 

Personal impacts on professional performance

Dragging oneself off the bed to face the uncertainty the day has to offer is quite common nowadays, yet it's not the reality that most welcome though they live it. 

Many of us would have thought that we were experiencing problems until we heard in the news that Ukraine was invaded; their entire sovereignty was stripped from them in a matter of hours. Their relationship changes were not only at a personal level in terms of death from one cause or another, but their international relations were changed in a way that they are to grapple. 

For many, lives were changed as situations with which we were familiar were eroded. No longer can we say goodbye to loved ones in the traditional sense; communing with others we've known for ages came to a grinding halt. Pressures from too much contact were brought to the fore. Life as we knew it evolved without any of our input or permission. Really?!?

So what is this going to do for businesses? 

In short form, we are going to need to be more aware of the mental needs of those with whom we interact. Everyone has experienced trauma in one form or another. This is not something that can be swept under the rug in the hopes that it would go away. 

What are the impacts on professional performance? Has this ever been measured? Has it ever been considered? 

The complexity of the human being means that businesses have one more thing to consider, yet they must be careful so as not to be taken advantage of while they are building their awareness and coping mechanisms to function is this quite different environment. 

Are there lessons to be learned from previous pandemics? Not likely since news would have traveled at a much slower rate. Nowadays, everything is instant. Things that take place within one region can be instantly relayed in a completely separate section of the globe at light speed. 

Social media can potentially make most people public figures, especially if they are in business. So we need to be quite careful of how we manage our experiences as a people. Remember, all it takes is one negative story and all your marketing dollars, programs and reputations built can become undone in an instant. 

Who's telling your story? 

Language is going to be key in managing your own publicity. Are we paying attention to the elements of our lives recognizing that just about anything can become public? The most innocent of comments can be relayed with a twist that completely conveys what was never intended. 

We need to manage our own press and reputations. Credit scores, opinions, police certificates of character should be supportive at most - not responsible for managing the extent of our reputations within the public domain. 

What are you known for? 

Do you serve charities? Help with groups that experience challenges of one sort or another? Become known for something positive. Learn to research something even if it's recipes where you can then do compare and contrast critiques. How can you become an expert or renowned within a particular area? 

E.g. I am known to be quite good in the area of business development particularly as it applies to SMEs and their operations. I write within the areas so that people who don't even know me can read my work and form an opinion as to if they believe they can benefit from my services offered. More often than not the answer is yes. 

Volunteering 

When was the last time that you volunteered for a cause? Through volunteering, you can meet people that you would not have ordinarily meet. Build relationships with influential people. They get to observe your work ethic through partnering with you to fulfill the requirements of the cause. Some people have been known to advance their careers using this method of serving. Always remember - givers gain. 

Sometimes, the activities that you engage in while you are spending time with yourselves can benefit you and others with whom you interact. You may very well end up being a repository of knowledge in your fields of interest. 

If you learn nothing else today, remember - that what you do personally can impact your professional performance in a positive manner.  Keep striving for excellence.