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Wednesday, December 22, 2010

Successful New Year's Resolutions

In a few days, 2011 rolls into our lives. For many of us, it means a new set of resolutions get set (or old resolutions get back on the top of the pile) ... and last until January 8th, if we're lucky. Why do we fail? Primarily because we rely on our willpower.

When I quit smoking a number of years ago, I contributed a lot of my success to willpower. As I reflect back, however, I realize there was a plan. I had done research on the health benefits of smoking - there were none. I made myself sick by getting to the point where I was smoking two packs a day ... and had to quit! I planned to quit at midnight on January 1st, and I did.

The point, I guess, is that your new year's resolutions are most likely to be achieved if you train your brain to link positive emotions to new habits and condition yourself to new behaviors. Relying on willpower is difficult because that springs from the part of your brain that is easily overwhelmed. When pursuit of that resolution bumps into an obstacle, you give in to an emotional desire for instant gratification. Then you feel bad and try again. And give up again.

An article on how to keep a resolution in the December 22nd edition of the Wall Street Journal suggests that "keeping a resolution requires a detailed plan, with emotional rewards when milestones are reached ... and even a strategy when there's a setback."

Does your business have a plan to fulfill your mission ... the reason you're in business? Have you outlined the details and established some milestones to accomplish the objectives you've always wanted to achieve? Think how rewarding it could be for you and your team to achieve a major milestone such as $1 million in sales for a month, and mark that achievement with a day spent rewarding your employees for their performance.

Imagine how loyal your employees would be if they knew there was a strategy in place for when the competition gained an edge or some unforeseen situation arose.

As an example, I was on the inside when the U.S. Junior Chamber of Commerce lost a Supreme Court decision and were ordered to admit women. The move should have been made before it went to the Supreme Court, but the point was the organization had no strategy in place for losing the decision. It wound up being poorly handled and disastrous for the organization.

A plan is essential to living up to your personal resolutions, and vital to the long-term success of your business, and it's okay to ask for help. Resolutions, like your business plan, are a fluid process requiring change and conditioning, knowledge and focus, persistence and desire.

Monday, December 6, 2010

10 Tips to Shorten the Start-Up Learning Curve

When you start a business, be prepared for a steep learning curve. You will learn about finance, accounting, business law, marketing, cash flow, personnel, competition, technology, product delivery, customer service, and some topics you swear do not exist. How fast you learn determines how quickly your business turns a profit.
When I was the managing editor of a national magazine, the editor decided to take a month's vacation ... and never returned. He was someone who had to be in control and made all the decisions. I had to learn accounting practices on short notice to take over management of the publication.
Here are 10 tips to shorten the learning curve in starting your business:
  1. Get involved - Serve on a board of directors if asked, and learn how a board is structured and how it operates.
  2. Network - Choose a closed contact network and be visible so you can build credibility and relationships with the other business owners in the group ... check out www.bni.com.
  3. Hire consultants - Professionals are available to help your business grow by providing expertise in areas where you can use the most help, like accounting, taxes, contract law, marketing, financing, and business strategies.
  4. Listen & learn - Pick up some business-oriented CDs or download them and listen as you drive, while you're working out, or while you're working on your computer.
  5. Hire smart people - They can make you look great, you can learn from them, and they can help your business grow if they're smarter than you are in some areas.
  6. Pick some brains - Find successful business owners you'd like to learn from and take them to lunch or dinner and glean as much information from them as you can. Most are willing to share. Remember to thank them ... and reciprocate when you can.
  7. Try trial and error - Always an option to get your education from the school of experience; although they can be painful, mistakes can be valuable teaching tools.
  8. Listen to family and friends - While you may be too proud to take their advice, your family members ... especially your spouse (if you have one) ... and friends see your business from a different perspective than you do. That can have value.
  9. Keep asking questions - You will continue to learn about business as long as you're in business, so keep an open mind about everything and anything that touches your world.
  10. Pay attention to your customers - There's a reason they buy from you. It is good to know that and build relationships so they can give you the feedback essential to your growth.

Contact Fluidity for resources that are available to you when you're ready to hire consultants.