Tuesday, May 11, 2010

Is Romance Killing Your Business? --Day 2 of 365--


Getting stuck fantasizing about romantic notions regarding what your business could or should be like is a lethal bad habit.

The Ever Struggling Start-Up.

Take, for instance, the struggling start-up.  This guy is in love with generating ideas, and has absolutely no interest in executing them fully.  He gets his kicks thinking of the "next big thing".  Then he hypes himself up about the potential wealth it will create, the impact it will have... He dreams ad nauseum all the way out into the most spectacular achievements that, frankly, are WAY beyond his current capacity to execute.

And when he gets anywhere close to where all this "romanticizing" has to clash with reality, and he actually has to do something, he balks.  He stops moving forward.  He takes no action that produces any result in the real world.  Or -- he remains stuck taking the wrong actions.  He spins his wheels with ineffective activity.  I meet guys like this all the time.

Eventually, this guy loses interest and moves on to his next dream.

The Stuck Small Business.

Now take the stuck small business. This guy has achieved some success. He's in business and making ends meet (or is staying afloat using massive debt). He may have even had a few good years and grossed 7-figures.

Somewhere along the line, he gets stuck in a holding pattern and can't really grow his business any further.  Any boost in sales is incidental... he can't trace it to anything duplicatable --- things he did on purpose.

He never actually knew what was driving his success.

He gets stuck dreaming and romanticizing about the next big breakthrough.  He chases those dreams, burning time, energy, assets, resources... but to no avail.  He remains victim to the whims of the marketplace.  Jumps in sales are uncontrolled and incidental.  Every momentary drop in sales could signify his demise.

It's not a fun place to be.  ...I see these guys all the time, too.

Then There's the Winner.

This guy has taken the time to get a STRONG grasp of cause-and-effect as it relates to his business.  He understands that, if he does A, B, & C --- it will make D, E, & F happen in predictable fashion.

He romanticizes just enough to come up with a few good ideas... Then he becomes obsessesed with execution and making something HAPPEN.

He tests the concept.  He creates the prototype and gets feedback from his market.  He runs small scale ads to make sure they work, then he scales up and gets the big business.

The winner does stuff that directly causes the results he wants to create.  And if he doesn't know what to do, he quickly engages in safe, small, low-cost, low-risk tests that allow him to identify what needs to be done.  He doesn't romanticize about "could" or "should," and he doesn't chase-the-wind with ineffective actions and activities.

I encounter these guys regularly, but nowhere near as much as the first 2.  And when I meet the Winner, he's almost always got a thriving, excellent business... and a serious amount of cash in the bank.

"Nothing happens until something moves."  (Einstein)

TAKEAWAY:  Business is about understanding and harnessing the power of cause-and-effect relationships in the marketplace.  You do A.  B happens.  You repeat the process.  Ongoing romantic fantasy about "what could/should be" is your enemy.  Taking specific action that produces a specific result is your friend.

ACTION STEP:  Track how you're spending your time.  Literally write down everything you do during your work day for a whole week (this will be an eye opening experience).  Gut your schedule of activities that don't directly product a desired result, or strategically position you to achieve a desired result.  Discipline yourself to stick to this new approach to your routine until it is habit.

Folks, grasping this is a game-changer.  Follow that action step and it will change the landscape of your business, and your life.

To Your Enduring Success,

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