Faith is important for entrepreneurs

26/06/2012

The life of an entrepreneur is full of ups and downs. The high’s are fantastic and the feeling of jubilation when you move closer to your intentions provides a clear sense of accomplishment – it delivers the impetus to keep pushing on. It’s a great place to be because motivation and energy helps to build an important ingredient for success – momentum.

However, we all know, building a business can likened to a roller coaster ride, the journey very rarely proceeds along a smooth path. Obstacles are just part of the game, these force us to create diversions and look for alternative ways of getting to our destination.

Constantly being forced to deal with the need to explore alternative roads to the end point can have a wearing effect on  mindset. The danger is when it stimulates negative self talk – what’s the point in doing this? Is it really worth it?  Many entrepreneurs will have at some point internally deliberated these issues. Only you can answer these questions, only you can decide whether to keep going or not.

The power of autosuggestion brought to us many years ago is a vital antidote. Autosuggestion is a psychological technique  developed by  Emile Coue in the late 19th century. It’s an important tool in conditioning our mind to achieve our goals. It can be as destructive and constructive. At the heart of autosuggestion lies conditioning ourselves, through our senses to achieve what we want.

Through observational research, I have come up with other practical tools to help at critical points where emotional support is vital for the entrepreneur. The reality is, it can be easier to give up than to carry on – winners in all walks of life dig deep, maintain focus and continue with their mission, they accept setbacks are just part of the game.  The old adage when the going gets tough the tough get going is one you should reflect on when these feelings kick in.

Mental toughness differentiates winners from losers, your sense of purpose ebbs away when you listen to negative self talk, phrases such as why am I doing this? are symptomatic of the condition, in turn it weakens the endurance of the mind thereby resulting in I give up. Successful people have an insatiable desire and internalised motivation to succeed – you have really got to want it!

Having faith in what your are trying to achieve is a vital ingredient for success. If you dont believe then dont expect others to. It’s important to condition your mind to becoming resilient. Without faith and mental toughness the reality is, winning becomes more difficult. When things are not going your way, embrace the principles of R.A.F

Rewind – and go back to your vision, picture success and hold this image in your mind. Quiet contemplation is vital to aiding this process. This activity will move you out of the negative state and refresh your mind then get you back “on purpose”

Accept – that things will not always go your way. Avoid long drawn out dissections of why things turned out the way they did. Coming runner up is sometimes a wake up call for us. Accept the position and move on otherwise negative self talk will hinder progression.

Have Faith in yourself and your ability to achieve what you want out of your business. When you develop faith, bouncing back when things go wrong is far easier. By having faith you convince your mind that anything is possible

Practice, practice and practice this philosophy and see your success improve dramatically.

 

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Gazelles – past and present (part 2)

02/05/2012

I wrote a blog a week ago that covered Harvey Goldsmith’s view of the Top 10 greatest entrepreneurs past and present (part 1). Here is the final listing from 6 – 10 and the insights I think are important for other ambitious people:

6. Harry Hyams (1928 – ) – a man who changed the face of commercial property. He built Centre Point in the 60’s and left it controversially empty for months. He was a man who got his timing right, stirred things up – a great example of success is often down to luck. Many would say he planned to be “lucky”

7.Bernie Ecclestone (1930-) – grasped the opportunity when he saw it. From selling cars to F1 supremo. The window of opportunity is presented to so many of us but how many grab it when it appears? It often only lasts for a short time. His vision and leadership is an inspiration to us all.

8.William Morris (1834-1896) – crafts and arts specialist who dreamed of improving the quality of life for British workers. He was a highly successful artist whose designs are still around today – the message is? Leaving a legacy and putting something back!

9.Lew Grade (1906 -1998) – a master entrepreneur in the entertainment business. Famous for pushing an idea across the finishing line – how many of us are guilty of losing faith in an idea when the first hurdle presents itself. Faith is such an important part of getting the idea into the market place. Sunday Night at the Palladium and Pink Panther were several of his major accomplishments.

10. Sir Martin Sorrell (1945-) Not had the best of press this week given the big salary. However, so many forget what this man has achieved. In the mid 80’s he bought a little company called Wire & Plastic Products – this became WPP. It emerged as a world-beating communications and advertising business. Annual revenues running into billions and profits approaching £1bn. How many others can say they have done that. Grit and determination are key ingredients of his success. So the press….get off his back, how short people’s memories are!


The ego – a danger zone for leaders

11/01/2012

In his book Good to Great, Jim Collins wrote about the power of humility, personal will and its links to leadership excellence. Not to be confused with being a big softy, my own experience is that effective leaders running successful companies exhibit loads of it! Humility is the inherent quality of treating everyone as an equal, with respect, candour and dignity. Unfortunately for many, success very often breeds ego’s the size of cannon balls – self-interest overshadows the importance of colleagues, friends, customers and very often family. Acquiring a big ego can lead to a danger zone for leaders – a disconnection from the things and people who lie at the heart of success, they become redundant and forgotten. The ego is a critical ingredient to making enemies and switching off the support from those who matter.

Ego’s are an unsavoury element to corporate life as well, pure observation leads me to believe that all too often judgements are made purely in self-interest. Well my advice is, make balanced business decisions ones which consider the impact on staff, shareholders and customers (and family!). Very often the mighty fall as a result of their ego’s drowning out any appreciation of humility. Self awareness is the antidote and as my Mum say’s – never get too big for your boots!


Scary Strategies

02/10/2011

Bravery and courage are important traits of successful entrepreneurs. All too often there is a very fine dividing line between success and failure, the implications on either outcome can equally profound. Rene Carayol, a leading management thinker and person I truly admire talks about the need to sometimes practice “scary strategies”. These are methodologies that need to be employed in order to achieve a breakthrough or pursue big personal/business intention. They often involve raising the bar and extension of our natural comfort zones. Scary strategies are particularly appropriate in difficult selling situations where there is a real need to demonstrate competitive advantage e.g. dislodging an incumbent supplier from a long-standing relationship or as a small business pitching against a global brand.

In considering the deployment of a scary strategy we must pay due recognition to:

– Challenging the status quo and encouraging the customer to change their outlook, in other words try to change their mindset

– Bringing a different approach or one that is unconventional but truly brings benefit (however, there is a fine dividing line between genius and madness)

-Challenge existing practices that are old-fashioned and out of date

Scary strategies should be considered when all traditional methods of winning business have failed. Doing something memorable that is innovative, inspiring and displays a real sense imagination can sometimes win the day.

An approach taken by major London ad agency in the 90’s is one of the best examples I have come across.  In the days of British Rail, the top management turned up at the agency ready to be pitched to. An uninterested receptionist, filing her nails, made them wait in the foyer, which was decorated with coffee-stained tables and overflowing ashtrays. The minutes ticked by and nobody came to meet them. Furious at their treatment, the BR managers were about to storm out when an agency Director and his team appeared. “That’s how the public sees BR,” the Director told them. “Now let’s see what we can do to put it right.”


Getting Your Head In Gear – Ideal Performing State

11/08/2011

The ideal performing state is the point when your mind is perfectly aligned to the task you need to undertake  – it’s a positive state of readiness that manifests itself into high levels of personal confidence. It is vital that we get our mind and body into the ideal performing state before we take on any challenging situations. All actions  flow from our state of mind, so it is important to condition our thoughts to the outcome we want. By doing this, we programme our self to deliver a highly tuned and positive performance. Any successful person will tell you that before they embark on a major goal – they think things through!

Getting into the ideal performing state takes practice and as we move towards our goals we need to be constantly aware of the need to get into the zone. It maybe an interview for a new job or promotion, a big pitch, a marathon run or a speech you have to deliver – whatever the challenge you must connect thought and action to get the best result. Getting your head in gear means following some mind practices:

  • Visualise and define very clearly what a great performance looks like for you
  • Work through the start, middle and ending of the task you are going to perform
  • Look in the mirror and tell yourself that the performance will be fantastic
  • Be sure to have practiced and rehearsed – winners don’t wing it
  • Breathing can help immensely – sit upright and still, close your eyes, take a deep breath and count to seven – slowly release and count to eleven. Repeat for a couple of minutes
  • Concentrate on the task at hand and avoid having your mind cluttered with other thoughts

Your ability to access the ideal performing state will increase your success rate. Keep practicing in the mind gym and watch yourself grow in confidence. Success becomes a habit! Getting your head in gear


Downtown – Liverpool Business Awards

23/07/2011

I had the great pleasure of going to Downtown’s Liverpool in Business Awards on Thursday night, it was a great do. As usual I did my observation bit and tried to get under the skin of the key messages of the evening. Had the opportunity to talk to successful business people and politicians and listened to several speeches – what was my conclusion? A bunch of people who have a love and passion almost to obsession for their City. Other cities talk about “Family” but to me its nothing but rhetoric. Esther McVey, and Max Steinberg set the scene with an update of whats happening in Liverpool but what really engaged me was Joe Anderson leader of Liverpool City Council. A man of who spoke from the heart and with bags of forward thinking. More specifically he focused on what they are going to do, not what they were thinking of doing. His enthusiasm for enterprise and entrepreneurship is reflected  in the fact that Liverpool is hosting the Global Entrepreneurship Congress (Kauffman Foundation) – a big tick in the box for enterprise in my view.

There is something about Liverpool that I just can’t put my finger on, an invisible force a bit like the wind you cant see it but you know it’s there. Without doubt there is a stronger sense of community than in any other city I visit. (The story of how the Cathedral was built is brilliant – donations from residents). The underlying spirit manifests into a mindset conditioned to think big, move forward, stop living in the past and make it happen. As I said in previous blogs, cities and the general economy need mavericks, individuals who want to build momentum. They set out on a journey to change things for the greater good, not just for themselves. I saw loads of it the other night. Pity I had to get up at 4.30 Friday morning to drive South or it would have been an even better do!

 

 

 


Smart Operator – High Growth Individuals

19/07/2011

Recent economic challenges have placed serious pressure on people to think very differently. Business as usual is not an option, its time for something completely different. Cuts in public and private sector budgets have taken their toll – redundancies, lost revenue, projects going on hold…the story goes on. So what’s the answer? Manage decline and depression or look for the opportunities. As one delegate at an event I spoke at the other week put it….”recession, I have decided not to participate”. A very refreshing approach and outlook, the very opposite to the doom and gloom the media encourages us to embrace.

The answer is to practice and develop the Smart Operator Mindset – this ultimately leads to the creation of the high growth individual. We should draw parallels from the world of enterprise and create our own personal business plan, one that maps out a destination with the prioritized tasks to get us there. Here are some pointers for the Smart Operator Mindset:

1. Smart Proposition – define your unique talents, what you love doing, what you want, what gets out of bed. Aligning a future to a basic purpose really does help to accelerate the way forward.

2. Smart Vision – write down your personal intentions for 6 months, 1 year, and 2-years. Base this on your Smart Proposition. Include earnings and other components that make up the life you want

3. Smart Plan – remember a vision without tactics is hallucination. List the things you need to do and get on with it. The right path will emerge when activity is initiated.  Avoid procrastination. Set yourself KPI’s to check whether you are on track.

4. Smart Brand – you are selling yourself, so work out what mental imprints you want to leave on those you meet. Be memorable, deliver on your promises and become the master of your trade. This is what you will become known for.

5. Smart Collaborator – work out who you need to engage and team up with. Alliances and partnerships are a critical part of the Smart Operators DNA.

6. Smart Communicator – master the art of getting messages across, think win-win and live in the world of your audience. Clarity and concise messages that considers both your needs and those of others lead to positive relationships that go somewhere.

7. Smart Connector – work out a plan for finding, reaching and locking into to those individuals and organisations that are important to your personal progression. The connectors and influencers could include suppliers, banks, associates, partners, customers, other departments.

Practice makes perfect, another cliché that I hate, but its true. As Malcolm Gladwell said it takes 10,000 hours to become successful, so that means blood, sweat and tears, I still don’t think there are any short cuts to getting want you want. A combination of being really good at what you love doing, combined with taking ownership of your life fused with determination and persistence help pave the way forward. The Smart Operator Mindset is a framework for you to hang your thinking on.