In the prior business coaching blog, we covered the basics of the Inner Game of Business. We established that most small business owners (and even athletes) have the unfortunate and costly habit of interfering with their own success. They get in their own way and can even sabotage their own performance. In order for them to achieve optimal success, we addressed the critical need for entrepreneurs and athletes to tame their most important asset or liability, their mind ... specifically their mindset, beliefs, fears and assumptions.
Based on the thousands of clients served each year by The Growth Coach, we know that significant breakthroughs in growth, development and performance almost always come about from improving the mindset and skillsets of the business owner, not merely the mechanics of the business (inner game vs. outer game). Owners need to confront their self-interference around inaction, fears, limiting beliefs, uncertainties, doubts, and incorrect assumptions that can hold them back. Without them mastering the inner game of business, their outer game of business remains very difficult, unorganized and messy.
In the prior business coaching blog, we established that to take your business and personal life to a higher level, you must master 5 components of the inner game of business: you must know who you are, take full responsibility for results, improve your mindset and beliefs, have a bias for action, and believe in yourself and the value of your products/services. This business coaching blog will address the interference of inaction and strongly recommend that you adopt a Bias for Action.
Successful entrepreneurs do not over-analyze situations, the marketplace, clients, opportunities, problems, etc. They face reality, accept the truth, and they take action. They get going. Even with imperfect information, they take action. Even with doubts and fears, they take action. Even when they feel uncomfortable, they take action. As a business coach for over 16 years, I know with certainty that taking action is the great differentiator between successful and unsuccessful entrepreneurs. My advice, is feel the fear and take action anyway. The fear will go away or diminish greatly. Have a bias for action.
Action is almost always more valuable than inaction. Why? Because you learn a great deal when you take action. Analyzing something to death, trying to anticipate every twist and turn, attempting to answer every potential question ahead of time is a waste of time and energy. You can not know everything in advance. You need to get comfortable with being uncomfortable, with ambiguity, with missing some of the pieces to the puzzle. You never have the luxury to make a perfectly informed decision. You can’t be a perfectionist. If so, you will be paralyzed and most likely fail.
Struggling business owners always seem to be in the "ready, ready, ready, aim, aim, aim" mode, yet they seldom fire. On the other hand, successful and wealthy entrepreneurs very often are in the "ready, fire, fire, and fire" mode, seeking feedback and adjusting their aim as they go. Successful entrepreneurs set a goal, take action now, monitor their results, make adjustments to improve results, and take action again. They repeat the process as necessary, taking and learning from each action. Temporary failure is simply viewed as valuable feedback on what not to do next time.
You too should adopt a bias for action and feel comfortable correcting along the way. Stop worrying; stop guessing. Take action. Real growth and real results occur from getting out of your comfort zone and taking action.
For example, during these challenging economic times, you should have already take action to conserve your company's cash, reduce your expenses, possibly reduce your payroll, and re-focus and intensify your sales and marketing. Have you done so? If not, why are you procrastinating? How long have you known you needed to make some tough decisions and take some tough actions to counteract a slowing economy? Again, it's time to adopt and maintain a Bias for Action.
Daniel M. Murphy
President, Founder & Business Coach
The Growth Coach
Business Coaching Franchise System