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Imaginary objections and other things that hold back business growth…
This week my partner and I were planning some work for a plumber to do around our very old and quirky bungalow.
The bungalow had started off very small, but over the years previous owners had changed and extended the property in bits and pieces. One of the consequences of this piecemeal approach, (it is only one :-)), is that the plumbing is inaccessible, and at risk of leaking.
Not only does this make us nervous, but it makes it difficult to plan, as much of it is invisible, buried beneath a solid wooden floor.
This has meant that we had to turn the water pressure down, to avoid blowing a joint, and causing a leak under the floor. If that happened, we would have to tear up virtually the whole floor, to find and repair the leak.
While planning what we want done, my partner started speculating as to what the plumber might say when he or she arrived. She continued to speculate at all the things that could go wrong if we embarked on this project.
I approach things slightly differently.
At home, in my business, and with my clients in the Profit Propeller Program…
I do not spend any time on speculation as to what could happen, because I simply have no idea.
At Home
At home, when I hire an expert, like a plumber, I expect them to have far more experience in all things plumbing than I ever will. As such, I expect them to have come across problems like the ones we present them with, and have worked out solutions for them.
So when I invite a plumber, I just explain the problem, and the outcome I’m looking for, and let them start suggesting solutions.
Through that, I evaluate their experience, and then their suggestions.
And then, having evaluated the risk, I pick one of their suggestions, and go with it.
Typically, all the speculation that we spend time and energy on, does not come to pass. All the worry, the stress and the time spent considering all the possible problems that could occur, are wasted.
My Businesses
In my businesses, I work like a scientist.
I think about the thesis, I stress test it with my team, coach or mentor, and then I run an experiment.
I do not bet the business on it.
If it goes wrong, it costs a little, not a lot.
That is simply the nature of business. Things will go wrong.
It is our job as business owners to minimise the impact of those, and maximise the impact of the ones that go right.
If it goes right, I expand it, and reap the rewards.
Often though, it falls between the two, and like all good experiments, it needs tweaking and adjusting.
That is just good business.
Client Businesses
And I adopt the same approach when I’m in the boardroom of client businesses, whether in person or virtually.
We treat the business as a lab.
We have several thesis, on how we are going to grow our business and improve profitability.
We pick one to test.
Typically, it will be the one that gives us the best possible outcome in the shortest time, with the lowest risk..
Then we test, adjust, lather, rinse and repeat.
The results
At home, a plumbing project that will result in us having a better water pressure… Wonderful showers, and faster washing up!
In business, mine and clients, less stress, faster growth, more profit!
So, my message today is…
Leave imaginary objections alone. Don’t spend any time or energy worrying about what could happen if you did something to improve your business.…
Simply treat it as a lab. Stress test it, evaluate that, and test it with the market.
Many options come with peace of mind guarantees.
The Profit Propeller Program, for example, comes with a 30-day happiness guarantee.
Test it and see if it works for you…
Let me leave you with three questions that may help you in this regard:
- What are you not taking action on in your business, to improve it, because you are uncertain of the outcome? (This could be things like improving prices, getting rid off an unproductive team member, or launching a new product or service.)
- How could you use this thinking, like a lab technician, to create a test with low risk, to take action on one of those areas?
- Who could you solicit an opinion from before you act?
Four (or Five) ways I can help
https://successstorybuilder.com/5-ways-you-can-get-more-help/
Whenever you’re ready… here are 4 ways I can help you grow your business :
- Grab a copy of my book
It’s the road map to understanding what could be holding you back, and strategies to move you forward in growing your business, and improving your lifestyle. — Click Here
- Join the Profit Propeller FB Group and connect with business owners who are looking to grow too
It’s our new Facebook community where smart business owners learn to get more sales, profit and income. — Click Here
- Join our Implementation Program and be a Case Study
I’m putting together a new coaching and mentoring case study group at Profit Propeller this month… stay tuned for details. If you’d like to work with me on your customer acquisition and income growth plans… just reply to this message and put “Case Study” in the subject line.
- Work with me and my team privately
If you’d like to work directly with me and my team to double your profits… just reply to this message and put “Private” in the subject line… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!
Email info@successstorybuilder.com
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