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When I train people in digital marketing for their companies, I encounter this tremendous resistance to change. Even though I’ve shown them how applying the strategies will take their business to new heights, and they know they should, most are still having a hard time.
To be successful as entrepreneurs, most of us need to change something in our lives: our habits, our leadership style, our systems, or even the product or service we offer. When markets change, you need to pivot and adapt. If you encounter persistent problems in your business, you need to change. We still know that, change still feels hard. But if our lives were at stake, we would make the change, right? Well, maybe not.
Related: Success requires sacrifice. What are you willing to give up?
Most would risk death rather than change
Alan Deutschman has written a book called Change or Die. In it, he says that cardiology studies show that 9 out of 10 people at risk of heart attack will not make the necessary changes. They’re given instructions to not smoke, drink and eat less, avoid lots of stress, and get regular exercise—all the things they need to do to have the best chance of staying alive. Their doctors tell them if they don’t pull through, they’ll probably die. But if you check back with them a year later, 9 out of 10 still haven’t made the changes.
Well, Mutual of Omaha got smart and realized they were paying a heck of a lot for heart bypass surgeries and angioplasty. In the early 1990s they worked with Dr. Dean Ornish from UCSF to conduct an experiment. They admitted 194 patients with clogged arteries and terrible habits. Read also : Are Black Businesses Ready For Another Recession?. They gave them the same instruction that everyone else got about healthy living habits, but they added things like meditation, support groups, aerobic classes, expert trainers to help them quit smoking, etc. They ran this program for a year and then everyone continued to let their own. After three years, 77% of patients were still doing what they needed to do. They did not require surgery, and some even had their condition reversed.
what was the difference I would say it has to do with three things in particular: support, accountability and coaching or mentoring from experts.
Related: Set yourself up for success by setting expectations
1. Find a support group of your peers
This is truly the concept of masterminding, which is one of Napoleon Hill’s 13 keys to success. It means getting together with people who share your desire to succeed. You don’t have to be in your industry. This may interest you : NCET Biz Tips: Juxtaporing art to grow your business. In fact, sometimes it’s better if they aren’t. But they must be like-minded and come together “in a spirit of harmony.”
A mastermind group has all sorts of practical benefits. For one thing, it gives you extra years of experience. If you’ve been in business for three years and someone else in the group has been with them for seven years, that adds up to 10 years of experience to draw from. It brings you different perspectives on problems or issues you are dealing with. A mastermind group can be motivating when you encourage each other to succeed. It can help you pump up when you hit what looks like a brick wall. The group can inspire you as you see others succeed at it. A mastermind can come up with many creative ideas that are outside of your own little box. And if you need to make any kind of change, they can help you with that.
2. Get an expert coach or mentor
I’ve had a number of great coaches and mentors throughout my career. Some were for different aspects of my business. Others for specific phases of my company or my own growth as a leader. Read also : The diversity business case is being pushed back. A great coach or mentor has been where you want to go so they know what needs to happen to get you there. When I chose a coach to help me with leadership skills, it was someone who actually was a great leader. When I got coaching in public speaking, they didn’t just teach – they were great speakers themselves.
A great coach will help you stay focused, whether it’s about the skills you need to learn or what you need to do for the next phase of your business. And if you’re off course, they can reroute you. A coach or mentor can give you honest insight into what you’re doing, what might be holding you back, and other options that would serve you better. A good coach can help you navigate difficult transitions or big changes so you keep an eye on the win.
See also: This basic principle will bring you more success
3. Take accountability
A key benefit of coaches, mentors, and business support groups is accountability. Accountability means taking responsibility for your actions and being honest about your results. You do what you say when you say you will. And if not, take responsibility for what you did and fix it. This creates trust between you and others, be they your shareholders and your investors or your spouse and your children. We all really want that confidence, so you’re motivated to do what you need to do.
As an entrepreneur, you are often only responsible to yourself. Your dreams and goals are at stake. And for most of us, it’s a lot easier to let yourself down than someone else. A coach or a mastermind group can represent this “other”. You strive to keep their trust, so you’re automatically more motivated to go through with it.
Nine out of ten people don’t even make it through life or death situations. With a great mastermind group and expert coaching/mentoring and accountability, you can be among the 77% making the changes you need to be successful.
What sets successful companies apart?
A company without positive intrinsic value that helps people, customers and users will not survive. A company must show that it creates value from the customer’s perspective. Furthermore, not only should customers see the value of what a company does, but so should the public, the country, and even the world at large.
What distinguishes the successful companies from the unsuccessful companies? Successful companies always have the growth of the organization in mind and will try to keep the customers as they don’t need to lose their valuable customers. So, they will step out of their comfort zones and work hard towards their growth in the competitive world.
What sets great product companies apart?
4 things that make great companies stand out from the crowd
- You discover opportunities in unlikely places. Great organizations are always looking for opportunities that others don’t see. …
- They are structured yet entrepreneurial. …
- They don’t let distractions cloud their focus. …
- They strive for social importance.
What makes a company more successful?
A mission with great core values that employees can believe in is another way. The most successful companies recognize the good talent they have and work to retain it. That means more than a competitive salary and a few benefits. Employees need to fit into the company culture and feel valued for their contributions.
What sets a company apart?
When considering what makes your business different, the most effective strategy would be to impress the customer at every opportunity. This includes the quality of your product or service, as well as the ability of your staff to do whatever it takes to help each customer and provide them with the best information.
What makes a company successful over the long term?
In his opinion, the three most important things that all long-lived companies have in common are: Great vision. Great financial management. Nice people.
What makes top companies successful? Customer centricity Customer service and customer experience are key focus areas of the most successful companies. The first step is to create products and services that customers want. But customer focus goes beyond your products.
What makes a company successfully?
KEY FINDINGS When a company has superior management – people who have experience and have been with the company for a long time – there is a good chance the company will be a success. Companies can achieve market leadership through quality, innovation, customer service or even guarantees.
Why typically do companies fail?
Some of the most common reasons for small business failure include lack of capital or funding, maintaining an inadequate management team, faulty infrastructure or business model, and unsuccessful marketing initiatives.
What are six reasons companies fail? 6 Reasons Your Small Business Will Fail (And How To Avoid Them)
- leadership failure. …
- It lacks uniqueness and value. …
- Not in touch with customer needs. …
- Unprofitable business model. …
- Bad financial management. …
- Rapid growth and overexpansion.
What is the #1 reason that most new businesses fail?
1. Bad management. We’ve finally reached the #1 reason why a new business might fail. Entrepreneurs have power over their businesses, and with great power comes great responsibility.
Why do 90% companies fail?
Reasons for failure according to business owners include tight money, the wrong market, lack of research, poor partnerships, ineffective marketing and not being an expert in the industry.
What are the three key attributes common to all successful companies?
The difference between a “break even” and a “hugely successful” company is based on three important attributes: trust, consistency and loyalty.
