Why is it that some people succeed in business over and over again and others seem to be banging their head against the wall?
This difference in entrepreneurial OUTCOMES for different people is at the heart of predicting whether or not someone will ‘make it’ in starting and growing an online business.
In analysing my own successes and failures, as well as other entrepreneurs I’ve met online and in person, I’ve noticed FIVE traits and areas that are given a degree of priority when things are working.
If your business isn’t growing as fast as you would like, you might be missing one or more of these elements…
#1 is that they get a roadmap of what they want to do from someone who’s done something similar - and then they CUSTOMISE that roadmap to their own specific needs and objectives. For example, someone building a health and wellness service will find someone in the industry who is succeeding and then study what that person is doing in terms of website design, marketing approach and service delivery. They will then make subtle tweaks to these templates to better match what they are offering.
#2 is that they are fast action takers. Almost ALL business is changing faster and faster each year, with rapid leaps in technological tools and changing social expectations. Those who grow fastest are avid learners and they also ACT on what they learn quickly. Those who learn but do not act fast enough end up using old techniques and stunting their growth.
#3 is that they know their NUMBERS. This aspect is broken down into three things they get right. Firstly, they know WHICH numbers are most important for their business. Secondly, they have reliable and accurate tracking systems to get this data. Thirdly, they form plans and act on them to take advantage of this data to rapidly grow their business.
#4 is that they have a coach and/or accountability partner. This element combined with an effective roadmap and fast acting habits means that they achieve their desired results much, much faster. People without a coach, or some form of private accountability, are more likely to become distracted or make unnecessary mistakes. Business is like a sporting endeavour. You can’t see the game when you’re IN the game. An outside perspective is gold dust to making the right strategic moves.
#5 is that they are active in a supportive community of like-minded individuals. This means masterminds, social groups and going to events all based around people who are on the same path. Being amongst other entrepreneurs who ‘get them’ gives them an incredible advantage in confidence and boldness in implementing all the other 4 traits listed above.
My challenge to you is to look at this list and find ONE that you are either missing or could dramatically improve. Then focus on that ONE to begin with. Once you do that you will start to get momentum in getting towards all five traits. With all five in place, I would estimate you have a much greater chance of succeeding and succeeding QUICKLY.
Matt Phillips is on a mission to help others make the same transformation he made to a life of freedom and contribution enabled through building profitable and fulfilling online businesses.