Many people want to start a business for themselves, but few people actually do it. And those that do, 6 out of 10 fail in the first five years. Why do these businesses fail? I will expose 3 Dangerous Thought Patterns that can destroy your business and how to overcome them.
#1: Doing what you want to do without a clear vision
A lot of people who are in business for themselves are experts in their trade. Unfortunately, most of them set themselves up for failure because they start doing what they know how to do and ignore the rest. These businesses begin to operate in accordance with the wishes of the owner. opposite to business needs.
It is this dangerous thought pattern which dooms your business before it even starts, and the reason is simply this:
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The owner is so focused on doing what he is an expert that he forgets to work on what the business needs.
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They don’t have a vision of where the business is headed or a strategy for progress.
It is vitally important that you develop a compelling vision, values, purpose and mission for your business that gives you the clarity and strength to endure the ups and downs that any business will inevitably experience.
#2: Doing business from the perspective of an employee
At first, you can do whatever your business needs you to do. But, after a while, you find yourself doing not only the work you know how to do, but also all the hard things you don’t know how to do. Then, very slowly, you realize that there is more work to be done than you can possibly do.
There is nothing wrong with being an expert in your craft. There is something wrong with being a skilled craftsman owning a business without changing this dangerous thought pattern! Because:
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As a skilled craftsman turned business owner, his approach is backwards. He sees the world from the bottom up, from the perspective of an employee, rather than from the top down, from the perspective of an entrepreneur.
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You were so used to working in someone else’s business that now you are working in your own.
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But, while you are working on your own business, there is something more important that is not being done. And it’s the strategic work, the systems implementation that will move your business forward, so you can live the dream you’ve envisioned.
If you want to have a viable business and not work yourself to death with this dangerous thought pattern, you must be able to make growth systematic and predictable. You need to think of a business as a series of systems that will lead to growth.
#3: Have a tactical vision instead of a strategic vision
When a business owner focuses on work in your business instead of us they are unclear on their priorities and try to use every tactic they can get their hands on to earn the income they desperately need. They impulsively try the latest trend or the newest technique in the hope that it will work.
Well, in business, hope and guesswork are not tactics.. Having this dangerous thought pattern is not the way to run a successful business! You must have specific goals or some way to measure whether or not that tactic is working.
You should use a vision-based framework to help you get the clarity, direction, and focus your business needs to move forward. It helps you filter out distractions and use the right tactics that are aligned with your business vision and strategic plan.
This is very important because, what your business deals with is more important than what you sell.
As long as you have the dangerous thought pattern of viewing your business from a bottom-up perspective, you’re doomed.
Understanding the difference between what goes on in the mind of a skilled craftsman who owns a business, the mindset of an entrepreneur whose focus is building and growing a successful business, and the 3 dangerous thought patterns that can destroy your business is critical. to find out why most businesses don’t thrive and make sure yours thrives.