Monday 25 January 2016

What stops us from taking up new challenges?

We are all creatures of habit and feel comfortable following our routines. They are safe - if a little boring at times!

Business is the same: we keep doing what we do because it is what we know and are comfortable with. However, it may not be the most lucrative way to earn a living and can seriously hamper business success. What’s stopping us? Fear!

Fear of failure very often prevents us from being creative and stepping out of our comfort zone in the business world. Innovation is lost and we stagnate in our orderly world. It is often the precursor to the death of a business.

How do we overcome the fear and take on new challenges and try new things?

Start by doing something on a regular basis which is out of your comfort zone. Do something really small at first. For example, try walking down the street on the opposite side to the one you normally choose. Or reverse the order you put on your shoes or move your desk to a different part of the room. Little challenges which you overcome easily will give you confidence to move to bigger tasks without feeling stressed and anxious. Sit in a different part of the room from your usual spot, and take a look at your business from a different perspective.

Start looking for new and different challenges. Every time you take on a new challenge and conquer it you will get a satisfying rush of endorphins. Now the uncomfortable will become an exciting opportunity rather than a fearful experience to hide from. Write down all the benefits to you and your business of taking up new challenges and getting more creative and pin them beside your desk as a reminder.


Make 2016 the year you get comfortable with being uncomfortable!

Monday 11 January 2016

A New Year - New Challenges, New Outcomes

Did you approach 2016 with the thought that you wanted to make changes, sell your business and move onto new challenges in the near future?

Are you thinking of retiring or handing the business on to the kids in the next 10 or 20 years?

What if you have just started a business and are full of enthusiasm for all you are going to achieve?

You may have started out with an image of what your business would look like when it is running successfully, but have you thought about what you want your business exit to look like? The ending seems very unimportant at the outset compared to the immediate demands of generating sales and an ongoing income. However, if you pay no attention to this, it could be that you end up with a job for life, as you still need an income and the business can’t manage without you. It’s very flattering to think you are indispensable, but it isn't really the path to a guaranteed income in retirement and some time to do those things on the bucket list!

The other risk is that you will have a business of no interest and value to prospective investors or buyers when you want to move on or retire. Those with small businesses have put all their hopes, dreams and energies into building up sales and generating an ongoing income but they can become too close to the business and find that they haven’t invested the time and money to ensure the business continues to evolve and is still an attractive proposition.

While you are pondering your New Year resolutions and outcomes you are looking to achieve in 2016, it is worth spending a few minutes jotting down your exit plans!

I have a proven track record in advising businesses, from starting up to exiting, and I can guide you through the best way to capitalise on all the skill, effort and expertise you have invested in your business.

I'm hosting a webinar on how to ‘Sell your Business for Maximum Value’ on Wednesday 3rd February 2016 at 12.00pm (UK time). You can find out more and register here. If you're unable to make that date, still register and I'll keep you informed of other times.