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Secrets to Success
Deborah Cole Micek |
Honest assessment of
knowledge shortcomings
can lead to business success
Part Three of ThreeHave you considered buying a business but are not sure whether you've developed your own skills enough to ensure the business is successful? Do you have the truth-accepting, leader mind-set or the ego-driven, follower mind-set?
During the past two weeks, we looked at two case studies of two different people who bought the same type of franchise business, with all things being equal except the business owners. Who did you find yourself identifying with? Business owner No. 1, Vera Truthe; or business owner No. 2, Egor Egoiste?
Did anything jolt your mind-set, prompting you to re-evaluate the strategies for success you have in your business?
Case studies
Vera had a true system for success. Egor, on the other hand, had a system for failure -- he just couldn't admit it.Essentially, Vera was willing to look at the truth, while Egor remained in denial about his weaknesses and lack of knowledge.
Vera confronted her lack of knowledge in certain areas, realizing she didn't know what she didn't know, until her coach revealed secrets to running a million-dollar operation. She quickly realized how she needed to do dramatically different things in vastly different ways compared with the mom-and-pop business she successfully ran before. By learning everything she could from people who went before her successfully, she gave herself a unique advantage to ensure her success.
Contrast that to Egor, who insisted he knew exactly what to do, and no one could tell him any different. His belief system was that it's just a matter of bad luck and other people deceiving him that caused him to fail.
Specifically, while Egor thought he was saving money by selling equipment and laying off staff, he was actually reducing efficiency and creating a hole in his profit-generating business bucket. This hole quickly grew larger the more he tried to do everything himself.
Contrast this attitude to Vera's mind-set, which prompted her to invest in people and equipment in order to allow things to run smoothly and thereby increase the overall productivity of the company. Sharing the wealth and profits actually made her more wealthy and profitable.
If you think you're buying a franchise or business to "escape" from the necessary learning that must transpire for you to reach millionaire status, think again.
If you're not willing to work diligently for the first two years in a start-up company, then you may be better off walking away.
And, if you insist on doing the same things you've always done in your business, while wanting a different end result, you may want to check in with your local psychologist, because she'll tell you that's the definition of insanity.
But, if you're willing to admit you don't know what you don't know, and you're willing to do what it takes to reach the next level in your business, even if it means doing things dramatically differently, then you're on the path to massive success in anything you touch.
With the right tools, proven strategies, a high level of determination and partnering with a seasoned coach who successfully gets results, you'll gain results in record time.
The bottom line
In order to achieve the level of financial success you aspire to -- whether it's to be a millionaire or a multimillionaire -- you must be willing to do things you've never done before.
Deborah Cole Micek
See the Columnists section for some past articles.
John-Paul Micek is the lead business coach at RPM Success Group Inc. Reach him at JPM@RPMsuccess.com or toll-free at (888) 334-8151.
Deborah Cole Micek, chief executive officer of RPM Success Group, is a business success coach and life strategist. Reach her at DCM@RPMsuccess.com or toll-free at (888) 334-8151.
Access an expanded version of this article at www.GetCoachedforFree.com.