The Trap That Catches Most Entrepreneurs
Many people start a small business to replace a lost job. Many people already in business say they’re just trying to “make a good living.”
If you adopt the same mindset, you’ll end up in the trap!
BIGG success is life on your own terms. It’s about designing and building the life that fits you perfectly. The focus is on making a life, not just a living.
If you don’t think that BIGG, you fall into the trap: Your days are so full of “busy-ness” that you don’t have time to develop the business.
You can’t get out of the trap. You work for the business but the business doesn’t work for you.
Listen to this post, click the player to hear George & Mary-Lynn on The BIGG Success Show podcast.
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How do you avoid the trap?
Don’t sell products or services. Promote a brand instead.
However, promoting a brand isn’t enough. Develop your business.
Even developing your business isn’t enough. Focus on building a life.
To make a life, not just a living, from your business:
You must have an exit plan.
Your exit plan is your compass. It sets your direction. It’s the end you must have in mind at the beginning, according to Stephen Covey.
Yet most entrepreneurs we talk with never think about their exit plan. They object – they say they don’t ever plan to exit their business. Fine – but a business is a very illiquid asset. You need a plan for liquidity.
Select strategies that move you closer to your exit.
Strategic planning is mostly about eliminating options. Get everything that doesn’t move you toward your end goal off the table.
Once you do that, you’ll only be looking at strategies that work for you. You want to select the one that you think will get you to your exit in the shortest amount of time possible.
Be prepared to adapt or abandon.
Your strategy may not work. It may need to be tweaked. Or you may find it’s just wrong. You need to abandon it and try another one.
You never know what will happen when your idea hits the market. However, proactively pursuing an exit while reacting to market information quickly and decisively leads to BIGG success!
Do you want to make a life, not just a living? E-mail us at firstname.lastname@example.org or leave a voice message at 877.988.2444. Maybe we can help you.
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Image in this post from mrktwain