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Business, Goals, Leadership, Personal Development, Self Help, Strategy, Success

Entrepreneurial Secret #05

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Entrepreneurs Know Their Balance.

At first glance you might think that I’m referring to financial balance. Although financial balance is important it is not the most important. The balance that I’m referring to is your life’s balance.

  1. Mental Balance – Ability to do what it takes rain or shine.
  2. Emotional Balance – Allow you to handle the ups and downs of Startup
  3. Physical Balance – Stamina to make the long haul.
  4. Social Balance – Ability to rally others to your cause and enjoy

The success or failure of your business especially at the beginning, is directly related to how well you are balanced in these areas. Many start-ups have gone under simply because the founder was out of balance. How to maintain balance? Always keep the end desire in mind and do the following:

  1. Mental – Create small successes and build to larger.
  2. Emotional – Remember – All sunshine creates a desert. Rain is needed to help the flowers grow. Times are not always good.
  3. Physical – Start where you are and commit to do something every day!
  4. Social – Communicate. Listen to understand and then speak to be understood.

If you have any comments or a topic you would like for me discuss, please leave a comment. I will get back to you and possibly feature your comment and you if you like in a future post. If you like the posts tell a friend who think would like it also.

Thank you,

Dewong Lucas, Sr.

HelpingEntrepreneurs.com

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Business, Goals, Leadership, Personal Development, Self Help, Strategy, Success

Entrepreneurial Secret #04

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Entrepreneurs: It’s much better to have the Wrong answer to the Right question than have the Right answer to the wrong one.

The most important thing is not having the right answer, but having the right question. Many entrepreneurs have spent countless hours and ungodly amounts of money trying to find the right answer to the wrong questions. The problem with having the wrong question is that it automatically sends you in the wrong direction and away from you goal. Having the right question, but wrong answer allows you to still move in the right direction while learning what does not work.

Here’s an example. Let’s say you are selling 1,000 pairs of shoes every month, but you still don’t have enough money to cover all your business expenses. What question would you ask? Would it be “How can I sell more Shoes?” Would you then ask “How do I gather more customers?” After that would you start looking for other ways of marketing?

After about six months you find your business further behind. What happened? The problem was not in selling more shoes. Many entrepreneurs first reaction is to sell more. If you would have asked the question “How can I be more profitable?” You might have examined your pricing and discovered after all your expenses you were selling the shoes for less than you paid for them. Therefore, the more you sold, the more in debt you became. This happened because you got into a pricing war with your competition and almost priced yourself out of business. We will discuss pricing strategies in a future post, but for now just remember it’s rarely about price.

It is important to learn how to ask the right questions. Whatever question you ask yourself, your brain will figure out an answer for you. It doesn’t care what the question is. Once you have developed the habit of asking the right question you will find the paths to your goals much shorter.

How do you develop this very valuable habit? It is very simple. Stop focusing on the symptoms and start focusing on the cause. The symptom is that you are in debt. The cause is because your pricing was wrong. Here is something to help you remember. If your tub overflowing would you focus on getting the water up (the symptom) or would you turn off the water (the cause)?

Leave a comment if you have a pain point in your business you would like to be address, need direction on starting your business, or just let me know what you think. Thank you.

Dewong Lucas, Sr.

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Helping Entrepreneurs.com
Business, Goals, Leadership, Personal Development, Self Help, Strategy, Success

Entrepreneurial Secret #01

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There is no success or failure.

There is only results. The results that we get are either the ones we want (success) or the ones we don’t (failure). So success or failure is defined by each person and is accepted or rejected by each person. The person that has spent time to define for themselves the meaning of success or failure will do much better in life than the ones who only live by what others have defined them to be.

To be a successful entrepreneur you must clearly define what that means to you. Any result outside of that definition is just experimenting to learn how to get the results you are looking for. Success should be defined as a process not an end point. The end point is the goal. Continuing along to the goal is success.

You may hear success defined by friends, family and advertisers. That’s also where you learned about the Easter Bunny. A rabbit laying eggs.. Really?

Create your own reality and don’t live someone else’s fantasy, or it could turn into a nightmare.

Dewong Lucas, Sr.

http://www.HelpingEntrepreneurs.com

Leave a comment if you have a pain point in your business you would like to be address, need direction on starting your business, or just let me know what you think. Thank you.

Helping Entrepreneurs
Helping Entrepreneurs