BEHAVIOURAL ASPECTS FOR THE ENTREPRENEUR

Hiya! Another week has swiftly passed by. Today I would like to briefly write about the subject of focus. I candidly think that focus is required for successful entrepreneurship. I will make reference to a book entitled The Power of Focus, written by Jack Canfield, Mark Victor Hansen and Les Hewitt. The book is subtitled How to hit your business, personal and financial targets with absolute certainty. I think you do well to look for and read this book, as it has some very good principles that an entrepreneur can benefit from. The points I have documented below are summaries of what I thought were very nice things in that book. The explanations are also my approach. You might have your own views after reading the book – but certainly you can’t fail to identify a thing or two to adapt.  So, let’s get going with this brief introduction.

  1. Choose to – not have to. As an entrepreneur, your positive choices determine a lot about your success in business. You need to make conscious choices and not simply be compelled to do things because you have to. You are in a more settled and objective position and situation to make a good decision and choice if you choose to, not when you have to. Do you understand this? Think about your decisions and make the correct or right choices in the interest of your enterprise. Never be the always hasty entrepreneur that makes decisions because a competitor, supplier or some stakeholder is doing something or has done something.
  1. Remain focused and avoid distractions. Different results come from different thoughts and actions. The use of your time is critical. Procrastination has to be avoided at all costs. You need to take timely decision and action with focus. If you allow other things to distract you from your entrepreneurial goals and objectives, hence making you lose focus – that is up to you. By the time you wake up to reality your focused business colleagues will be miles ahead of you. Distractions could come along your way in different forms. It could be a new business idea that draws your attention even before you have stabilized your new investment. It could be a price war triggered by somebody. It could be some networking meetings that lost focus ages ago but people simply want to keep it going.  
  1. Your habits determine your future. I wrote a piece on the power of habit in entrepreneurship some time back. If you have some minutes you could glance at that article. You habits determine many things regarding your life and your enterprise also. You need to develop the habit of changing your habit for the better. No one will change your habit for you. Don’t you agree with me? Good habits will keep you focused on your goals and objectives. Good habits enable you retain and multiply your wealth. If you watch successful entrepreneurs or even in other fields you will realize that habit is fundamental to success.  
  1. Delegate where possible. Delegation is vital for successful entrepreneurship. It enables you to focus on the things that really matter, and stop meddling with every little thing in the name of managing or leading your enterprise. Some entrepreneurs hold onto everything and this is not healthy. If you want to remain small then don’t delegate. You can grow grey hair holding onto everything and getting upset with everyone. There are some tips on delegation in my article entitled why an entrepreneur must delegate. If you want to focus on the vital things in your business, please delegate. Ok?  
  1. Have balance in your life. I have written in the past about the need for living a balanced life amidst all the challenges of entrepreneurship. Certainly there is more to life than money, entrepreneurship or success whatever your definition of success is. What about your health, family, relationships, spiritual life, fun, contributing to society etc.? You could easily pass by as a greedy, selfish and entirely money-minded person if you don’t bridle your appetite for money and balance certain things. A balanced life gives you breathing space and time to reflect on more things. It also enables you manage your success well. Don’t’ you think so? It’s up to you anyway!  
  1. Build excellent relationships and avoid toxic people. Never ignore people. Be open to feedback – but never spend too much time with toxic people. Do you hear me? There are people that are so toxic that they could extinguish the entrepreneurial fire burning in you. They will tell you how bad the economy is, how taxes are so high hence making most businesses collapse, how the market is so bad that making money is not possible for the next ten years, how staffs can never be trusted, blah blah blah! On the other side of being good, don’t encourage relationships that will hurt your business. Some positive relationships could be too good for your business. When you stop thinking rationally in making business decisions with associates then you could be on the danger zone. Don’t lose focus because of good and bad relationships.
  1. Be confident, faithful, persistent and visualize. Realistic optimism is good for business. It keeps you away from too much worry that makes you lose focus in your enterprise. Never run when there is nothing chasing you. You could easily be mistaken for having mental problems. Operate with integrity and boldness. Be solid. Be consistent and persistent. Mix your imagination with vividness to get reality (I X V =R). Entrepreneurship is risk and if you are not confident and persistent you can easily run back to your comfort zone, and fail to achieve anything. If you want to retire into a consumer and stop producing goods and services, that’s your choice!
  1. For things to change you need to change. You are in charge Mr. Entrepreneur. Never leave your future and the future of your enterprise in the hands of fate. Never endlessly blame the law, the economy, the government, the taxman, the staffs, your suppliers etc. for your business failures. Ok? Utilize the TA-DA approach. In other words – Think, Ask, Decide and Act. Why are others still making money in that bad economy with the worse tax laws, moreover with bad governance? Why would your suppliers be interested in ruining your business when they make money from you? Am I missing something? Get focused on yourself as the change factor and you will be the success factor in your enterprise.

I said in my introduction above that I would be brief, and I want to keep my word. Remember these eight lessons from the power of focus, and share it with as many people as you can.

Till then,

The Wise Entrepreneur

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