Tag: Motivation

Survival tips on starting a new enterprise

No matter how grand the vision is we must pace ourselves

Just because change is needed or you see a market opportunity doesn’t mean success will happen on our time schedule.

You have a dream to start a business and you take the leap. It makes perfect sense because you see the need and you’re equiped to facilitate that need.

You’ve been endorsed by family, friends and your own personal sense of past accomplishments. When you start you have the energy you never knew you had which we’ll call the honeymoon period.

It doesn’t take long before negativity sets in. People aren’t buying into your vision or engaging in your services and you lose focus wandering if you really have anything to offer?

It’s at this point where the real opportunity can be revealed. It’s called a reality check.

1. Do people really want to change providers just because you need their business?

2. Do you have a competitive edge that can influence decision makers to change service providers?

3. Are you committed for the long haul?

Like any worthwhile relationship, we get what we put it. The most exciting part about starting a new business or enterprise is that it strips away all our preconceived ideas about ourselves. It allows us to scratch that itch that’s been bothering us for a while.

Most businesses won’t even see the real effect of their efforts within the first two years. For a first time pioneer, two years can feel like an eternity.

Can I encourage you not to lose heart and go back to your original vision and do the following.

1. Clarify to yourself was it a vision or a mirage. Did you really want to go all out and do something that you saw in your mind’s eye or did you want to avoid getting a job.

2. Is your service recognised and if not you may want to extend the two plan of return to a longer one. It takes time to evangelise and let the world know your unique and much needed product or service.

3. Do you have the resources to continue until your vision is realised?

4. If you no longer care and it’s not that important, there’s no shame in shutting shop immediately. You are never a failure for venturing out. You may become a huge failure when you don’t recognise that the horse is dead and you refuse to dismount.

On a positive note

There truly is nothing more exciting than the romance of a visionary. To pioneer a new idea that has been deposited in your heart makes perfect sense.

1. Write out your vision in as much detail as possible and leave it be to reference off when the going gets tough.

2. Take baby steps when first starting.

3. Talk to positive people that will encourage you and also advise you with a bit of tough love.

4. Make as many real connections as possible and engage.

5. Always reevaluate and adapt.

There is no greater reward than realising your vision should you press in.

On a final note

1. Do it for yourself.

2. Look after your well-being

3. Don’t forget those around you because reaching success alone is the most unsuccessful thing you can do

Blockbuster’s Death – SWOT is forever at our heels

WILL YOUR BUSINESS SURVIVE?

I walked through the second last Blockbuster store at Morley, Western Australia and watched the remains of a store getting picked apart to get a bargain. The store is set to close at the end of March 2019.

I’ve been renting movies from here for years and used the family cat’s name as the password. It was a sad moment of nostalgia and the passing of time.

Death is forever knocking on our door looking to take us into the business graveyard.

Blockbuster at its heights employed over 84,000 people with over 9,000 locations world wide. The Blockbuster model was brilliant but even they couldn’t anticipate the speed of technology and the convenience of the competition. With new emerging services like Netflix, Stan or YouTube and Smart devices, Blockbuster became a dinosaur.

No matter how brilliant our ideas are or the current success of our business is the threat of being consumed is ever present.

I love the SWOT model of self analysis and at the same time I don’t allow it to occupy my thoughts too much. SWOT is a great prodding tool to remind us if we’re not growing in life, we’re going. SWOT helps identify our Strengths, Weaknesses, Opportunities, Threats.

Being honest about the four following areas in our business/ life will help to equip us in order to adapt or we die.

HOW IS THE STATE OF THE FOLLOWING FOUR AREAS IN YOUR BUSINESS/ LIFE?

Qualify your Strengths?

Where are the Weaknesses?

Do you know where you can create new Opportunities?

Is your competitor or your complacency posing Threats?

Once we determine these, we must remain vigilant to maintain our cutting edge. We must also know when our time has come to change yet again.

Like a reptilian, shedding our skin of outdated methods allows us to keep moving forward. Blockbuster may have survived the digital storm by adapting to streaming. Respectfully we all have to die sometime, or do we?

We need to remember that principles are timeless and methods are forever changing and don’t mix the two.

What we can do today to stay alive?

Stay relevant by auditing your business/ life on a regular basis. This will hold you stay on track and be accountable as you ask the right questions and exercise transparency and action.