10 Ways to prepare your mind for high performance

“So how do leaders shift from lower states of mind to higher states of mind and improve their effectiveness and performance?” This was a question posed on Harvard Business Review forum I contribute to; here were my thoughts and contributions to the debate

Its simple. It all starts with what you think about. We must listen very carefully to the internal conversations we have with ourselves. The key to moving from ‘downbeat’ to ‘upbeat’ is:

1. Be aware of the internal negative conversation – address it

2. Create space to think ‘fresh positive thoughts’

3. Speak to positive people who lift your spirits

4. Tune in to the things that lift your soul – sport, music, hobbies, personal passions

5. Write down your thoughts and combat negativity with a ‘+ve to do list’

6. Keep away from negative people at all costs

7. Connect with nature – walk the dog, go for a run

8. Remember most of the things we worry about don’t actually happen

9. Think in the present and get on with it, keep experimenting!

10. Die a happy death. Morbid thought, but a powerful motivator to take action now!

The way you think governs the way you behave and act. Beware of what you are thinking about.

The ability to master the mind is what differentiates ‘winners’ from ‘runners up’. The real entrepreneurial stars are the ones who manage to consistently switch into their higher state when needed – I would describe this state as being one were individuals view both opportunity and challenge within a positive and courageous mental framework.

Global Entrepreneurship Week – more companies of scale

Its fantastic that this week see’s a whole raft of activity being rolled out to celebrate and promote starting and growing a business as a series career option. As one graduate said to me the other week –

“I couldn’t find a job so I created my own”

– a fantastic mindset that hopefully will continue to build the UK as the start up capital of Europe. With record numbers of start up’s this year, we should be turning our attention to creating long term sustainable businesses which have the capability, capacity and ambition to scale. These are the job creators of tomorrow. Scaling up a company is a massive challenge for any entrepreneur – its takes business acumen, courage, and lots of emotional intelligence – not forgetting energy. Scaling up a business to employ in my experience requires:

• A mindset that is far greater than merely self-employment. There has to be an underpinning ambition to create a business model that involves a team of people fulfilling different roles. All too often people who set up in business merely want to ‘eat what they kill’. The pain of employing others is commonplace – not everyone wants the hassle that goes with creating jobs.

• A clear picture of what the next 3-5 years is going to look like, supported by a clear plan of what resources are going to be needed – finance, office space, people skills, IT and supporting functions.

• Understand the available funding options and use of trusted advice which ensures both the business case and model can withstand scrutiny from a third party debt or equity funder.

• Strong leadership and an ability of the founder to develop both his/herself as well as the team on the top table. Recruiting and retaining high calibre staff is probably one of the most frustrating challenges for any ambitious founder.

• Strongly connected networks of trusted advisers who can help the entrepreneur make the transitions points of growth. This usually involves funders, legal, IT, recruitment, strategic and tactical finance people, marketing etc. NED’s play an important role in opening up ‘connected network’.

• Great housekeeping comes with growth, this means strong governance, great management information, KPI’s – all coming together and reported on a regular board meetings. So many businesses fail to see the benefit of board meetings – as you grow ignore them and you are destined to lose the grip on business performance.

Setting up a business is not for everyone, those not willing to embrace a life of uncertainty should go and get a salaried job. Growing a business is equally not everyone’s cup of tea – hopefully, Global Entrepreneurship Week will get many to give it a second thought.

Hard wired ambition is the key to growth

People often ask what are the essential ingredients to growing a successful business. Cliché’s such as ‘Think Big’, ‘Anything is Possible’ and ‘Dare to Dream’ often roll off the tongue of young entrepreneurs and aspiring new business start up’s. Regularly found in self-help and motivational books, these terms offer a great source of encouragement to the next generation of business men and women – they have a critical place in the growth journey. As a great believer that mindset is critical to success, what underpins real growth of both a business and individuals is deep-rooted ambition.

Successful businesses, communities and ultimately – economies are built on individuals who have this hard-wired ambition. One of my frustrations is that I visit many truly outstanding businesses with growth potential, but what’s holding them back is very often the lack of ambition. In equal amounts I hear the rhetoric of entrepreneurs who talk a good game about what they are going to achieve but consistently fail to deliver on any of the things they commit to do. They talk about what they are going to do rather than what they have done. Ambition needs an engine, it needs action, it requires mental toughness and when failure presents itself – successful ambitious individuals get back on their bike and pedal that bit harder.

When I coach entrepreneurs, I am constantly looking for ambition evidence. Have they done what they said they would do? Did they achieve that target they set themselves? Was that investment made? Did they hit the financial targets they said they would? A consistent stream of excuses of why things have not been done or failure to execute the actions agreed are tell tale signs that the ambition is not for real. What comes along with hard wired ambition is courage and an ability to extend comfort zones and manage risk.

One of the best definitions of ambition came from Elvis Presley – “ambition is a dream with a V8 engine”. Having a business dream is fantastic, however, without hard graft, long shifts and small nudges forward, the dream becomes a hallucination.

8 Essential ingredients of a high growth mindset

The issue of what constitutes a high growth entrepreneurial mindset is one that has fascinated me for years. We saw in yesterday’s press that 50% of new start ups fail within five years, a recent report from leading accountants Mazars – How to be a stand out SME – showed that very few SMEs grow beyond the micro stage (10 staff). Across Europe, 92% of companies have fewer than 10 employees. Surely not all of these entrepreneurs fail to have a business model that lacks the potential to scale – there must be other issues that lead to what is almost a shopkeeper mentality. My frustration is that I see day in day out companies with massive potential, however the founders often fail to recognise that, with more motivation, much greater value could be created for themselves stakeholders and their family’s. So what holds them back? It’s their pedestrian mindset – If they only had more fire in their belly!

Whilst I would never encourage a business owner to go for growth, if they genuinely did not want it, my experience is that many do want to achieve more – I would say its more than 70% do. My conclusion is the wrong state of mind holds too many entrepreneurs back from greater things – their mindset is not tuned into the reality of what it takes to grow. Having a great business idea and tight control over key functions and processes is only part of the success equation. It’s also about having a high performing mental attitude. Mindset is a hugely complex area with many constituent parts. Here is my simple view on the top 8 ingredients that deliver a high growth, high performance mindset:

Desire and intention – every action flows from genuine desire and personal intention. I want to grow my business is easy to say but hard to do. Desire is observed when entrepreneurs practice the 20% thinking and 80% doing rule. Growth entrepreneurs talk about what they have done not what they are going to do. Strong personal intentions create a performance culture mindset and go the extra mile mentality.

Sell, Sell, Sell – every successful entrepreneur knows that without a sale, there is no business, period. Thomas Edison, said I don’t invent anything I can’t sell, how true. I am constantly amazed at how many businesses are started on the basis of an idea with no attention paid to customers or does anyone want to buy this? Selling is not a dirty word; great entrepreneurs are great sales people – get comfortable with it!

Mental resilience – an ability to cope with the random nature of business supported by an ability to get back up when the chips are down is one of the most defining traits of a winner’s mindset.

Self-awareness –there is no way one person can do it all, winners create an effective team and call on the support of others. The inability of a founder/entrepreneur to recognise their own failings will inevitably lead to slow growth. Better decisions are made when entrepreneurs actively encourage trusted team members to contribute and to input to debate. Accelerated growth only happens when the founder starts to let go of parts of the business.

Creativity – the invisible force that drives innovation and ultimately creates a fantastic culture – it also underpins a positive memorable customer experience. Great entrepreneurs have an ability to embrace ambiguity, they are curious, they experiment with new ideas, and they take action. New sales ultimately result.

Self- belief – If you believe you can, you can, if you believe you cant then you’re correct. A belief in ones ability is a good starting point for any growth entrepreneur. Growing a business can be very tough, along the ways critics emerge who drain enthusiasm and energy. Successful entrepreneurs have an ability to close off to negative energy. Very often in a growth business such negativity emerges from the market place and scarily from staff. BYC – Believe You Can.

Clarity – don’t be surprised if you don’t end up at your destination if you don’t know where you are going. Successful entrepreneurs have a vision of what they want to achieve in the marketplace – revenue, profit, market and customers and business model.

Higher purpose – a desire to change a market place, solve a burning issue or address an unfulfilled need is a massive motivator for many entrepreneurs. Higher purpose provides a reason for getting out of bed in the morning. Without a reason, business becomes mundane, passion disappears and people disengage. Personal and business performance suffers. A clearly defined higher purpose and reason instills a desire to serve.

There are many other components but being aware of the above is a great starting point. Create foundations for growth by getting your head.

Creating space

Not being able to see the wood for the trees is a common feature of life. People regularly talk about being busy and overworked – but just how much of this is self inflicted. All too often we engage in activity that brings no value to achieving our highest goals and ambitions. Without reflective time, our decision making becomes blurred and it is common to lose sight of what we want. The result is stale thought with patterns of behaviour that fail to deliver our deepest desires. Successful people have the fortunate ability to think clearly, this is helped by finding the time to take well earned breaks from being “busy”. This cleansing process provides the opportunity to de clutter the mind.

The practice of finding sanctuary helps to remove mental blockages and fosters a sense of balance between work and play. Without regular periods of reflection you will find yourself eventually in a rut – the place you don’t want to be!

You must think of Sanctuary on three levels of “time out”:

1. Daily sanctuary to help us to prepare for the day ahead – time with family, exercise, meditation, prayer, reading. Starting each day with 10 minutes of deep reflection, provides a kick start to focused activity and just being aware
2. Weekly sanctuary that helps divert our energies into non related activities like pursuing a hobby, sport or spending more time with family and relationships. These activities release you from the week that was – puts you in a good frame for the week ahead
3. Sanctuary includes those activities that most people can only fit in two or three times a year. They would typically involve family holiday’s, short breaks or some form or retreat. This level gives you the opportunity to ask the big questions – what is my life all about? What needs to change? Should I go and do something else?

Dedication to the 3 Levels will open your mind to new possibilities and opportunities. Chasing success can be as destructive as it is constructive – practicing the art of Finding Sanctuary will build perspective into your life and help to differentiate between what is and what is not important, what brings fulfilment and what does not – embed these disciplines into your routine and you will experience a profound improvement in clarity of thought – you will see things more clearly, you will make better decisions and life will feel less hectic.

Do you have a competitive edge?

The school of thought that assumes all high growth businesses are technology based is wrong. Fast-moving companies display an edge that connects with their customer’s world, one filled with imagination, inspiration and fresh thinking. Their founders and teams have an inherent ability to spot a niche, an unfulfilled need or problem demanding a solution.

Gazelle performance can be achieved by repackaging a traditional idea. The fusion of a diverse range of business models to produce a whole new experience is a skill high growth entrepreneurs have perfected.

Focusing on activities that don’t necessarily bring in revenue can also attain the edge. However, they do position the organisation head and shoulders above the rest. In other words they produce a wow factor. Leading experts in creativity would claim that 95% of a company’s point of difference is achieved by as little as 5% of what it does.

High growth businesses excite their customers by displaying their edge with passion and clarity. Companies must avoid falling into becoming a “me too” market player – this drives down margins, the cheapest wins, a sort of spiral descent very difficult to recover from.

So how do you find the edge? It starts with the mindset of the leader – old world tells us to think outside the box. My recommendation is to get rid of the box because it does not exist – eliminate limiting beliefs, self-imposed boundaries and negative influences that restrict your ability to think. Find a coach or a mentor who will help you fill the pipeline with new possibilities. Find your 5%!

Freshness of thought drives great ideas

The term “thinking outside the box” is a constant irritation for me. Easy to say, hard to do – how do you do it? Get to the route cause!

Don’t fall into the trap of routine. Repetitive behaviours will deliver a mindset that lacks vision, imagination and creative spirit. When we do the same things day-in day-out we establish a routine, this state of mind both inhibits and prohibits new possibilities. We find that the same old problems surface and bizarrely we think that by doing the same thing over and over again the results will be different. We must be aware of our habits as they become hard wired into our daily schedule. The manifestation of routine is that we experience a sense of monotony, feeling of being stuck in a rut, poor self-confidence, low energy levels and loss of purpose and direction.

Everyone experiences these feelings at some point, however we can take some simple steps to rewire our thinking. Emphasis must be placed on constantly searching for stimulus – things that will disrupt habitual behaviour, strengthen our creative muscles and deliver a freshness of thought;

Alternative perspectives – constantly look at your challenges from different angles – ask yourself “how would your role model address the issue?”

Remove yourself – from the daily routine and spend one day a month do something completely different.

Connect with nature – spend time in the open air and appreciate the wonder of the countryside. Combine this with regular exercise, it provides a boost to our energy levels. It also helps us to value our existence.

Don’t Think – don’t pre judge the outcome of any situation. Just observe and detach yourself from comment. By not thinking you clear your mind.

Take a look – observe what your peers do and share experiences with them. Wherever possible engage with people from other cultures, religions and regions of the world.

Five simple practices will act the fuel for fresh thinking. Doing away with routine is a liberating experience. It energises us, and keeps us motivated to perform at high levels.

From concept to revenue

For the last few years I have been trying to create a simple model that allows individuals to assess the commercial viability of business opportunities and innovative ideas – irrespective of where this idea is created (university lab, industrial R&D department, current employer or our bedroom) I think there are three primary drivers that need to be assessed and considered when evaluating new ideas. Here are my thoughts:

Commercial drivers  (CD) –

who is going to buy the idea/service/product and how do you get it to market?

Human factors (HF) –

who is going to make it their job to get it out there – and is there a team that can make it happen?

Resource Issues (RI) –

have we got the finance, IT, plant and equipment along within physical resources needed to make it happen?

I score each idea on a 1-10 scale in each area. (I have some more detailed sub questions to each area and I have over simplified the above).

I work on the basis of successful mind to market – creating a sustainable revenue stream is down to CD x HF x RI – top score is 1,000 (10 x 10 x 10). In a very crude way it gives me a feel for whether I want to pursue an idea or not. If any score is zero then its back to the drawing board.

So much emphasis is on CD……however, HF needs to be given the attention it deserves!!

Pitching yourself through life

Success involves people and organisations having to sell what they have to offer – this could be our skill, a product or service. This term frightens the life out of many as it conjures images of unethical smooth talking individuals manipulating others so as to get their own way. This is not the case, a great pitch is grounded in ethical behaviour fused to a mindset of offering real value through a passionate belief in what you have to offer. Personal and professional progression means that you will frequently be in a situation where you have to pitch for what you want. Applying for a career promotion, a place on the school board or attracting new customers fundamentally means we are in competition and there is a need to sell.

If you don’t adopt this mindset then you will struggle to get what you want out of life. When you find yourself in a situation where selling is vital, start by asking:

• Do I understand their world?
• What problem am I going to solve for the person I am pitching to?
• What do I know about my audience?
• What value do I bring?
• What examples can I use to evidence credibility?
• How can I bring to life the impact I make?
• What is special about what I have to offer?

Personal progression means you must embrace the philosophy of life is a pitch. In doing this you condition yourself to delivering an effective and engaging performance to those that matter. Convincing others of the benefit of your talent, idea, product or service is an integral component to achieving your goals. Other people have an influence on whether we succeed or not. Your pitching mindset should help you to position your key messages in the following way:

• Real and tangible
• Deliver it with passion and meaning
• Ruthlessly simplistic message
• Clearly shows the difference you will make
• Win – win outcome

Practicing your pitching skills to enhance your chances of success. It will put you in a stronger position to beat off competition.

Thinking the right way – BYC

You must have self-belief if you going to achieve your goals. There is no point embarking on a mission unless you are one hundred per cent certain you can succeed. The mindsets you start off with will largely dictate whether you are going to fulfill your aspirations. So, if you keep telling yourself you can succeed then you probably stand a good chance of doing so. The converse is also very true.

The mindset of Believe You Can is crucial to delivering a winning performance, it’s where it all starts:

BYC thinking must manifest into the use of positive words and actions, these must be congruent with the goals you set.  If these two elements fall out of sync we can start to question whether we have what it takes to succeed. Keep repeating this phrase and after a while it will sink into your subconscious mind. The necessary activities needed, will then follow. Such mental programming will point you in the winning direction.  It also acts as the antidote for negative self-talk. There must be an extremely strong bond and level of connectivity between BYC and the goals you set for yourself!

The BYC philosophy should become integral to your everyday life. If as part of your career or profession you manage or lead teams of people, it is your responsibility to embed such a thought process. No successful team ever wins without start off thinking that it can!

It is often the case that new projects and initiatives need to get off to a flying start this means that high levels of motivation and energy are required to mobilise resources. Where team inputs are needed, firstly, ensure everyone knows where there are going and secondly ensure there is a collective belief that success is attainable. Teams that don’t engage with BYC will be at a serious disadvantage. Its starts with you! Foster the right climate to get the successful outcome.