2 REASONS WHY SMALL BUSINESSES STRUGGLE
About 80% of small businesses die before their 5th birthday which is unfortunate. As a business coach, I have seen so many potential great ideas die because people are too proud to ask for help. There are also limited number of people with the right skills to help them even if they decided to look for help. This is the reason why I went into business coaching after many years in the corporate world as a chartered accountant and as an entrepreneur myself with award winning businesses. I have also written a book called ‘Goldmine of Your Mind – Your Fast Track to Abundance’ This book addresses the biggest issue faced by small business owners i.e. mindset! If you don’t believe you can do something, then it is impossible to even try. In India, they take a little elephant baby and tie it into small stump with a flimsy rope; the young elephant would try to escape but its strength is still limited and therefore cannot escape. After a while, the elephant is now big and massive with the strength to uproot the whole tent where they are being kept; but the elephant doesn’t even try. Why? Because it has been conditioned to believe that it is not possible to escape, that it is powerless to do anything about its circumstances. We know that’s not true, but do you know a lot of people like this with the power to make things happen, but they have been conditioned to remain small, with no impact, no success and no contribution to the world other than just pay bills. How do you change your mindset? There is no space here to do justice to that so please read it in my book, it is potentially life changing.
Business is a system and if you plan how to make this system work well for you in advance and in details then you are already half way there. Most businesses don’t have a business plan and the few of them with a plan don’t even use them. The solution is to have a solid plan by an expert who can help you reduce it into action plan of what you must do on daily basis; if you wing it, from day to day then you will not get result. You probably know that by now.
Get your mindset right and follow a sound plan; this is your takeaway from my contribution today I hope you enjoy it. Read my other post to find out how to get your mindset right.