The 3-step Success Formula for Business Owners: BE X DO = HAVE
How do you think successful entrepreneurs made their way through the ladder? You are probably thinking knowledge and hard work is the success formula to leading them to where they are. While that is true, these two contributions alone won’t make an entrepreneur successful.
Working on yourself and developing a growth, rich mindset is just as important. And then time is another thing to consider – you’re probably shouting in your head, ‘how would I have time for all of this Steve?!’
The solution is simple: if you don’t have time to invest in your self-growth, you will not have time to become successful. So where can you start?
ActionCOACH has founded a success formula you will need to transform you and your business to a higher level:
BE X DO X TIME = HAVE
“In order to have you have to do, in order to do, you have to be”- Brad Sugars
First part of the success formula = BE
The question you must ask yourself is who do you want to be and what is important to you? I have recently watched a TED talk which highlights the method of identifying the things that are important to you, and it’s simple. What catches your focus daily?
Perhaps while you are doing work from your laptop or even going on a daily stroll, there are recurring thoughts entering your mind. Once you identify these things, you will heighten your self-awareness. These are some things that may seem important to you:
- Health– you may occasionally think to yourself that you need to exercise more or eat healthier. Which small steps could you take right now to become a healthier and fitter individual?
- Family & friends– it can become overwhelming when you work in your business so many hours that you don’t have time for your friends and family. It’s important to have a work-life balance, to avoid burnout and aid happiness. Also, your friends and family can be a great support circle for finding what is important to you. Why not discuss this part of the success formula with them?
- Purpose– If I get off track with my tasks, I will ask myself the fundamental question of WHY I am doing this. Furthermore, it is also imperative to have a clear mission and vision statement in place. If you need support on this, get yourself a free template here
Second part of the success formula = DO
Once you have realised what the best version of yourself should look like, what do you have to DO to get there? Let’s say you want to become more confident- a great way to improve this quality is by getting out there and making more social connections. In this case, you could join a hobby you have also wanted to pursue or perhaps attend an in-person webinar.
The most common obstacle which hinder business owners from acting on this part of the formula is procrastination. Here are some common reasons why you may procrastinate as a business owner:
You do not break your projects down
Do you tend to dive into your business projects without properly preparing and planning the small steps you need to take to get there? Success in business all starts with a detailed and effective business plan.
If your business does not have a great business plan which clearly tells you its direction for the next 5 and 10 years, I would recommend getting started with this free business planning template.
You are scared of failure
As a business owner, you have to accept that not everything may go perfectly the first time. Being scared is a form of self sabotage – you may postpone or fail to complete a task because your internal self talk is telling you this is not going to work anyway, so what is the point in trying? Or perhaps I’m not smart enough to do this just yet.
Get this part of the success formula right by starting to believe in yourself – you have accomplished more than you think you have…
Third part of the success formula = TIME
There are many things you need to do, yet little time to complete them. Or at least if you have not organised your time efficiently.
Let’s not waste any more time. Once you have mastered time, time will serve you the way you want it to. It is essential to improve your time management skills so that you have time for the things you want to do.
It can feel quite overwhelming looking over your daily plan and realising how many tasks you must complete. Once you get in a mindset where you acknowledge all these tasks are building towards your self-growth and complete them in manageable chunks, they become easier. Feel free to read this article on how to improve your time management skills, so you can master this part of the success formula.
The combination of working on who you want to be, taking the necessary actions to make this happen, as well as utilising your time effectively leads to the desired outcome of HAVE.
As mentioned before, hard work comes into the equation. Implementing these actions with a lack of strong will won’t be of any use to you. You need to give 110% to everything that you do if you would like to see some significant changes in your life and your business. The principle goes like this:
BE average x DO average = HAVE average
BE amazing x DO amazing = HAVE amazing
Are you choosing to use the average formula or the success formula? The choice is yours...
