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Posts Tagged ‘P’s’

My Final P in business is…..Patience

February 15, 2011 4 comments

 

 

Patience, this sounds easy but in practice it can be very, very hard, especially when your business isn’t growing as fast as you’d hoped.

 

For example, how do you stick with the business plan that you spent days, weeks or months preparing? The plan that when you started was broken down to what seemed a few simple steps, ie implement the marketing plan, get customer in, retain them, profit with them, keep repeating and hey presto a viable business inside a relatively short space of time.

 

In principle you know your plan will work. But on the frontline day to day trying to implementing your plan gets hard. Especially growing a young business, trying to bring in new clients, one of the hardest, most expensive and time consuming processes a business carries out.

 

This is where you must have patience! Patience to stick with what you know is right. If you’ve planed thoroughly, got buy in from stakeholders (ie, you’ve checked your plan out with qualified others for feed back and they’re convinced of its merits), implementing correctly then all you may need, in general, is time and patience to make it work.

 

I found this out in my first “proper” business. I planed out where I was going, did the business plan and got the outline of the marketing plan, which in those youthful heady days just consisted of cold calling and word of mouth referrals, the internet was still in the womb at that time and I had no money for anything else.

 

My plan and business was sound, so onto bringing clients. Simple idea cold call relevant businesses that maybe interested in my services and then leverage of any clients on word of mouth and shazam!, lots of clients and an ever expanding healthy business.

 

However I had to learn patience.

 

I made well over a hundred cold calls a week, in person and on the phone. It was frustrating, demoralizing, sometimes humiliating, basically not always a great experience. But I slowly learned that occasionally I would find a customer and leverage of that one and so on and so on.

 

Finally momentum and break through followed. It all started to fall into place with patient implementation of a solid plan. But that plan would have been nothing without Patience.

 

So, look at your plan, if your convinced its sound and you know that the patience implementation of it leads to where you want to be then, Stick with it. Be Patient and believe in your own abilities.

 

Thanks for reading, Tim

 

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The Next extra P in business is…..…..Persistence!

January 10, 2011 2 comments

This is has to come from within and how long you persist at something, not just in business, is a reflection as to how committed you are.

As Brian Tracy (well know American Success coach www.briantracy.com) recently said on personal Persistence:

“Your persistence is, in fact, the true measure of your belief in yourself and your ability to succeed.”

In other words Persistence comes from how much you believe in yourself to complete your task. Its not really about the task itself, its about you and your commitment to it.

 

 

In terms of being successful in business this translates into what Napoleon Hill had to say about Persistence.

Napoleon Hill (author of Think & Grow Rich) has this P as an essential ingredient in becoming successful. He wrote:

“Persistence is an essential factor in transmuting desire into

its monetary equivalent.”

This is easier said than done. But to help you Persists there a few things that you can do to help you.

Be responsible. Take responsibility for carry out your task and realise that you will profit from it if you Persist, you will be in a much better position. Pin this up some where so you can remind yourself of this fact, not just daily but throughout your day.

Another way, which I was recently reminded of by Sue from Red Hot Events and Seminars (http://www.redhoteventsandseminars.com ), was to join a mastermind group.

Find a group that has like minded people in it. You’ll naturally find encouragement there. You’ll also find that encouraging others boosts your own Persistence and enthusiasm to succeed.

So you need to ask the question: Are you committed to Persisting with your business?

I’ll give you my final P in business soon, thanks, Tim.

 

Aren’t there enough P’s in Business?

December 19, 2010 4 comments

The most important 3 P’s you’ll need in business….

Normally we refer to P’s in business in connection with just marketing, the 5 P’s or 7 P’s. But I’d like to suggest that if you’re in business or about to dip your toe into the business ownership world, then you’ll need all of  these 3 P’s of business.

Over the coming weeks I’ll let you in on what I consider these important 3 P’s in business are.

So what’s the first one?

First of the three P’s is……… Preparation – the first and most vital of the extra 3 P’s in business.
It’s been said by many people over the ages that preparation is the key to success.

In fact I would venture to say that many great writings over the years, in relation to winning, business, personal development and so on, all discuss the importance of preparation. From Sun Tzu’s The Art of War to Napoleon hills Think and Grow Rich, they’re all centered around preparation, know your enemy, do your preparation, know you’re self, preparation for become successful. And so on.

Preparation is vital to start any journey, particularly one into business. You need to be prepared in different ways.

● Have a plan, a road map of where you want to go, how big or small do you want your business to be, what do you want it to evolve into? Also allowing a little flexibility in this, as opportunities may arise, on along the way and lead you along a different path.

● Financially. Be prepared, have the right funding in place for your venture and a bit more for those unforeseen events.

● Mentally. Being prepared mentally to execute your business plan and to stick with it, even in the dark days. Mental toughness.

….and this is just the tip of the iceberg.

Preparation isn’t limited to just starting out in business, it’s an ongoing process, and so it should be.

One way to do this is through possessing an open mind, in terms of being open to learning. Listening, reading and being teachable are all essential and part of being prepared in business.

I’ll blog the next P in business soon….