Someone asked me a great question recently.
“Why do some businesses, in the same industry, do really well during a recession, whilst others struggle or go broke?”
The set of the sail
My answer came from something my mentor shared with me. Jim Rohn taught me that it is not the direction of the wind, but the way we set our sails that determines which way we go. In other words, our success or failure is not the result of outside factors, but how we decide to work with what we have. We can either stumble our way through business (and life) or we can deliberately move forward.
We can work to our plan, or do what the masses do and become a bit-part player in someone else’s plan.
Right now, you should be extremely excited about your future. Even if things are bad, really bad, you are NEVER more than 1 idea away from turning it around. Determine where you are right now. Literally, grab a pen and a pad and write down your current situation. Then, write down where you want to be. Get specific. Your objective then, is to use your creativity and sweat to take you from point (a) to point (b).
Not sure how to get from (a) to (b)?
Then ask someone who knows. One of the key reasons for the extremely high small business failure rate, is the tendency for small business owners to refuse to pay for the professional help they (and their business) need. I’ve met many small business owners, who “invest” in expensive cars that they can’t afford, yet their business is crying out for investment. Their car is driven by someone who hasn’t a clue where they are going!
None of us can do this alone, if we want to succeed.
We all need the expertise of trusted professionals in order to proceed from where we are, to where we want to be. I have around a dozen experts, who help me with everything from accountancy and legal advice, to keeping this blog running smoothly. I have also paid for the best professional development and marketing tuition on the planet; learning from Jim Rohn, Jay Abraham and scores of others. I have easily invested over £100,000 in my professional development over the past 25 years.
In the early days, I was penniless – broke. All I could afford was a book or a tape. I then read, and used, what I learned and was able to reinvest in “becoming more” than I was. As I became more, I also became more valuable to the marketplace and was able to invest even more into my development. I have maintained this approach to personal and professional development for 25 years and will continue to do so for the rest of my life.
Why?
Because if I hadn’t, I would be that marketing guy in your town; hustling for clients at networking events! He works hard, but uses a very similar approach to marketing as all his (or her) competitors. YOU have to be smarter than that!
Your future
So, where is your current approach to investing in your development taking you? Do you know people, who have the answers you need, but have so far refused to invest in hiring them?
At any time, YOU can elect to change the set of your sail. When you do, your life journey takes a very different route, deliberately planned to guide you to the life of your dreams. The guy with the funding you need is a phone call away; so long as you know how to connect with him and earn his interest. The lady with the marketing skills to turn your business around can’t help you, until you give her a call.
The bottom line: All the answers and help you need is out there.
Photo: Sailor Bill
As a small business owner it is impossible to manage everything and do it well, and something I hear more of is those who outsource admin, finance or anything else that they need so it free’s up time to concentrate on the tasks that only they can do.
Business coaching has been invaluable to me especially over the last six months when it is so easy to drift off course. It also gives you a broader perspective, as when your head down in your business you can’t see the bigger picture.
The way we are all doing business these days has changed and as you say Jim if you don’t see investing in yourself as a worthwhile investment then your skills quickly get out-dated.
Hi Melanie. You’re right, it’s very easy these days to become irrelevant to the marketplace, unless you invest in your skills.
Equally, you can give yourself a fast, enormous competitive advantage, simply by investing in, and acting on, non-generic advice.
Thanks for stopping by the blog!
I couldn’t agree more. I’m just starting up and resources are tight, so at the moment blogs (especially this one) and books are invaluable. I have friends who have the skills I don’t and want to see me succeed, so they’ve supported me with their time and effort until I can afford to outsource. At the moment my focus is to do what is needed to find my first couple of clients and deliver an excellent service to them. That will in turn give me revenue to spend on developing myself and the business further. I’m already prioritising the things I want to invest in once I have the income to do so.
This blog has become one of my most valuable resources – plenty of your thoughts have spurred on my own ideas and actions. Thank you.
This is great advice, especially the idea of establishing and writing down your goals and continual education. I have always struggled with the writing goals part of the equation. Something I need to overcome.
Those in small business or any business actually would do well to read books by Napoleon Hill, Brian Tracy, Jim Rohn etc. They provide an extremely important prospective on how to self-motivate, set goals and the like that are not taught in the standard academic environment.
I was always under the impression that what they were selling was snake-oil and that I would end up using too much hair gel and teeth-whitener if I was exposed to their works. Of course that is not the case and was a bias on my part based on uninformed opinion.
Basically what Jim said, all the answers & help you need are out there. You just have to apply yourself and stop wishing for things to change and make it a reality.
Think and Grow Rich is one of my favorite all-time books and everytime I get down, depressed, or insecure I always start reading it, and everytime I get motivated and pumped up again. Highly recommend it to any small business owner
Good evening everyone.
This post is precious !
I really think that we all have to get back to basics and think about them when we are in business.
And especially small business owners can have that ability to get things done :
Lists, lists, and lists !
Prioritize your lists !
Then, obviously act !
If you cannot do it: this blog is really be helpful.
Thanks Jim, again.
Yo Jim — every successful business owner I know pays for expert advice and help to get them where they want to be as quickly as humanly possible.
They understand they’ll save time, aggravation and money just getting things done timely and right the first time.
Savvy business owners don’t neglect investing in themselves or their business. It’s just good business.
I’ve started businesses with a nickel in my pocket and made them very successful. I understand when there’s no money – there’s no money. However, when the money becomes available, the first thing I do is invest in people and resources that can help me build a bad a#s business.
Cheers to you my bad a#s friend
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Great inspirational post and particularly like the sailing analogy. Have quoted (and linked) on our small business forum.
cheers
Steve
Hi Jim, another spot on post. I particularly like the bottom line: All the answers and help you need is out there.
I often coach small business owners to do their own online marketing and that’s something I always preach. In terms of SEO and general internet marketing, pretty much all you’ll ever need to know is out there for free and my job is sometimes to just nudge people in the right direction so they can find this information themselves.
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Many thanks for a great article, Jim. My response here: http://askm-videos.blogspot.com/2011/09/self-confidence-vs-arrogance-part-2.html
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