Archives for June 2014

Mastering the Psychology of Being an Entrepreneur

Mastering the Psychology of Being an Entrepreneur

A New Take on 80/20 Rule

I’ve had a lot of questions and comments since my previous post about Entrepreneurial Excellence being an Inside Job so I decided to dedicate this post to exploring the topic a bit deeper.

I previously estimated the internal work that goes into creating and running a successful business being about 90% and my “to-do” list taking up only 10%. I’ve reconsidered this slightly and realized that a New Take on the 80/20 rule is in order.

Although many prospective clients come to me eager to start their own business and be their own boss – you know, improve on the blunders they’ve been witnessing but had no power to affect. I’m noticing a rather disturbing trend though. The concept of Personal Responsibility seems to be missing in our current culture.

Many of the “reasons” for lacking success up until this point are not reasons at all. The statements reveal an epidemic of dis-empowerment, of victim mentality.

I recognize it clearly as a reminder of my final days as a Civil Servant. My beliefs and my values no longer had room for expression and I found myself fighting to solve each single infringement as if “this time” it would make a difference. From over-work and countless injuries to being stalked by an obsessed predator – It was time for me to put on my “big girl panties” and take Responsibility for my own wellbeing.

In fact you may have come to a similar decision in your life or your business where it was time to make a change. It was time for a leap of faith. I know how intimidating a decision like this is.

My Grama Shea always told me “Everything happens for the best” and she was so right. I couldn’t be living the spectacular life I love today had I not taken that leap. Had I not been able to shift my mental and emotional perception of events unfolding in my life, I wouldn’t have been able to take the risk needed to re-claim my Responsibility (Response – Ability) to say YES to creating the life I desire.

So often we don’t recognize our Responsibility to our higher selves because of the pain we’re in, the fear we feel about making a change or a lack of confidence in our ability to create something so wonderful.

Maybe you’ve encountered experiences you never should have needed to face. But, what if the Universe were always conspiring on your behalf? And what if the reason you went through those things in the first place was to prepare you to step forward now as the very best version of yourself. The version of you that now has the tools and experience to help other people, just like you, to navigate their own stormy seas.

What if the reason for all that suffering and pain was the powerful foundation of the business you are meant to create. We see the world through the eyes of our previous experiences and how we interpreted those experiences.

Here are some more concrete examples of possible perceptions that can sabotage your business before you even get started. Sometimes we think its “Truth” but consider the possibility that it’s a perception … a perception that can shift when we re-claim our responsibility (Response – Ability)

  • “I’d love to start a new company, but nobody will invest in me.”
  • “I’ll do the best I can, but the economy is totally unpredictable right now.”
  • “Investors always seem to put such unreasonable restrictions of me.”
  • “I can’t seem to find employees who are committed to my business.”
  • “Customer expectations these days can be unreasonable.”
  • “Every time I try outsourcing manufacturing, I get quality problems.”
  • “If there were just more hours in a day, I could get the job done right.”
  • “Investors want five-year projections, which is ridiculous considering all the unknowns.”
  • “My family expects me to always be there at a moment’s notice.”
  • “My biggest challenge is make sure everyone is carrying their weight.”

Now, try these re-framed perceptions on for size:

  • “My idea is so big, I will bootstrap the business myself if I have to.”
  • “Even in a down economy, there are some things that everyone needs.”
  • “I really appreciate the real-world guidelines I get from my investors.”
  • “I couldn’t do this job without the full support of my team.”
  • “Exceeding customer expectations is my competitive advantage.”
  • “I select vendors carefully, and manage them well, to keep my costs down.”
  • “With limited time, I’ve learned to focus only on key issues, and delegate the rest.”
  • “I recognize that financial projections are commitments, so I don’t take them lightly.”
  • “With the support of my family, I can walk that fine line between family and business.”
  • “I trust my team, and I’m convinced that the total is more than the sum of the parts.”

We don’t see the world as it is, we see it as we are” ~ Anais Nin

Remember I had said, “It’s an Inside Job”? 80% of The path to Entrepreneurial Excellence is navigated effectively by Mastering the Psychology of Being an Entrepreneur.

So, until next time,

What are some experiences in your life that have you feeling pain, dis-empowerment or fear? Try writing them down so you can get a clear look at them. Then re-write them from a more Responsible (not blame – just Response-Able) perspective. Even if part of you resists it right now. Write down the re-frame and read it out loud to yourself several times. Notice any shifts you begin to feel inside. You’re on your way.

I’d love to hear some examples from you below  🙂

Blessings to you.  🙂