We all want business growth and continued “upward” success. We plan, strategize and educate ourselves in order to strengthen our brand. However, what many business professionals don’t realize is that the crippling habits they continue to cultivate can stunt business growth and their vision for the future. Here are a few habits that are notorious “derailers” when it comes to the prosperity of your business.
Not Spending Money to Make Money: Businesses cost money to start and they cost money to grow. If you are among the masses of entrepreneurs who are constantly scrimping by on success-critical business facets like web-hosting, outsourcing or creating a user friendly website; listen up. Though it is wise to be money savvy, it is not always best to be…cheap. You will never see a motivational speaker using a Mr. Microphone or a coffee shop skipping on the napkins because they “didn’t want to spend the money.” Investing in first-point-of-customer-contact items like high-quality business cards and optimized websites is savvy business sense, even if it does cost a few dollars more.
Inability to Make Decisions: Ever heard the term “analysis paralysis?” It is defined as; “paralysis of analysis is an anti-pattern, the state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome.” Oftentimes entrepreneurs can get so bogged down in over-analyzing things, they miss out on perfectly good opportunities. Though business gurus do advise thinking things through, they don’t advise obsessing on the details to the point of being paralyzed by the inability to make a decision. Set a firm deadline for making a decision and avoid falling in to the “I need perfection” trap. Move forward knowing that, as with any project or new opportunity, there may be a few flaws and bumps in the road.
The inability to decide what you want to be, and not being it: List-making and goal-planning are two of the many key ingredients in creating the business you love. However, unless those hopes and dreams are implemented, they are nothing more than words on paper. Unfortunately many entrepreneurs spend a large amount of time in “contemplation mode” without ever moving to the “ready to take action mode.” Whatever your goal is, make it your obsession. Eat, sleep and breathe it and don’t stop until it comes into fruition.
Project Hopping: Some may call it “multitasking,” but hopping from task to task, without ever completing anything will result in nothing more than a lot of movement with few results. Laser in on an important task or project and see it through to the end before moving on to the next.
Not Evaluating your Time: Habits can make or break a business’ growth, but unless business professionals take stock in how they spend their day, it’s likely bad (or time-sucking) habits will never be discovered. By taking inventory of daily time spent on business issues you can more effectively pinpoint the non-revenue producing activities that could be outsourced elsewhere. Whether you are running a coffee shop or a million-dollar coaching company, you know what it is that you do best; making money for your company. Delegating tasks that bog you down from your greater goals (social media, ezine management, membership site management) are the ones to “bless and release” to other members of your team.
Any of these habits sound familiar? Take a closer look at what you are doing each day, and consider which tasks you can outsource so you can spend your time doing what you do best! You’ll be glad you did.