Why You Are Your Biggest Problem In Your Business & What To Do About It

Why You Are Your Biggest Problem In Your Business & What To Do About It

small business challenges

I’m sure you are looking for a silver bullet. The easy way out. The magic pill to stop the pain that you are now experiencing from having a business that you once thought would be the solution to all your problems, but now controls you on a daily basis.

I get it. Over 20 years of working in the accounting industry, I have seen hundreds of business owners who would come in to meet with me to go over their financials, stressed out, worried and wondering how they can escape the nightmare that their business has become. It’s actually the reason why I started Nine Advisory – to help them people with practical and simple advice and support them on their journey towards lifestyle and performance success.

The truth is - business has a formula. It is not as easy as it is made out to be in the beginning. Very few small business owners understand that. And the fact is, it takes a different type of leader to grow a business to 7 figures and beyond than the one who got it to 6.

 Success is on purpose – and is created through committed and strategically devised planning and accountability to ensure proper and ongoing execution.

 The Biggest Problem In Your Business

What if I told you that you biggest problem right now in your business is actually YOU?

It’s probably not all your fault. You only know what you know. Plus, cultural conditioning is partly to blame.
For example, how many times a week do you hear your colleagues saying that they are so busy, that they have back-to-back meetings all day, and their calendar is packed out. No time for a holiday, and they are working all long-weekend. How many times have you actually said it?

And yet one of the richest men in the world – Warren Buffet says that he hardly has anything booked in his calendar, and that he fiercely protects his time. He says “it’s not a proxy of your seriousness that you fill every minute in your schedule.”  

He rates sitting and thinking as a CEO just as important, if not more important, than actually doing the work and having the meetings. How does that align with your current daily trend?

Where Change Needs to Happen First

Mindsets and beliefs (along with skills + knowledge) greatly influence behaviour which in turn influences your impact and outcomes. See diagram below:

behavioural change

Behavioural change is the first place where change needs to happen for your business to be transformed – and it starts within your own thinking.

 

Here’s how to begin the change process:

 

1.     Accept that your current thinking around how to do business is not supportive for future growth. What got you to this level in your business will not get you to the next. Commit to personal and leadership development to get your thinking outside the box around how to build teams, build processes and how to start delegating mundane tasks.

 

2.     Let go of the “hustle” mentality. There are no medals for being the most burnt out business person in your industry. Realise and commit to finding a better way to do business that does not require you to be burning the candle at both ends.

 

3.     Take control of your future by creating a vision that will serve you. Strategic planning workshops are a great place to start. It allows you to look into the future, map out what success looks like for you, design the roadmap to get you there, and then focus your attention, time and energy on the tasks right now that are important and essential to your progress. Then commit to monthly board meetings to help keep you connected to the vision, and accountable to the process of achieving that success.

 

4.     Start implementing some simple systems into your business, one at a time. If you want a guide to help you do that (we have one to give you) GET IT HERE.

 

5.     Pinpoint the critical behaviours that have affected the most positive results in the past and replicate. Then recognising the behaviours and attitudes that are holding the organisation back and start addressing these with your teams. Develop a culture of growth within your organisation (starting with yourself).

 

6.     Get outside perspective. Realising that you have blind spots in your business, and in your own mentality is one thing, actually being able to recognise what they are is another. Having trustworthy people who are willing to go the extra mile with you, and tell you a few hard truths when you need it are a priceless commodity. Get help today – if you don’t know where to start, get in touch with us and we’ll help you out or point you in the right direction (if we are not the right person for you).


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Nine Advisory Small Business Tax Update - June

Nine Advisory Small Business Tax Update - June