Women Business Owners Make
As a woman's business coach, I witness five common mistakes that women small business owners make in running their companies. Each one when made derails strong business acumen. If any of these apply to you, here are the solutions to the problems.
1. Are you trying to strengthen your weaknesses?
Stop trying to be all things to your business. A strong business woman leverages her strengths and neutralizes her weaknesses. Knowing your weaknesses but not trying to develop them is a winning strategy. Strong business acumen is built on developing your strengths, not correcting your weaknesses. When my clients describe themselves as swimming upstream-going against the natural current, I know they are trying to develop their weaknesses. Don't. Put your natural strength into the equation, and learn to delegate or automate the other stuff.
2. Are you not 100% sure what your strengths are?
Initially, a lot of business owners have a hard time identifying or articulating their unique strengths. Taking personality assessments, such as the Myers-Briggs Trait Inventory, helps you discover your natural strengths, sources of motivation, blind spots, and weaknesses. My personal belief is that as little girls we are conditioned to down play our strengths, and uniqueness. We were not as encouraged as boys to go off and find them. Lest, when we do discover our strengths, we rarely toot our own horn. Building awareness around what you love to do, and what you are good at, helps you become a better business woman. Having a strong business acumen means letting go of holding back the limiting belief that underplays your strengths, and playing full-out.
3. Do you believe you have to work longer or harder to overcome business challenges?
Many women small business owners are self-described "Control-freaks." I am in recovery myself. But having unrealistic and perfectionist expectations of yourself and others will absolutely kill your business, not to mention leave you in a perpetual state of burnout, fatigue and overwhelm. The control-freak believes she is perfect. I am now giving you permission to stop being perfect. Just stop. If you can't stop, take a temporary break from it. My solution may seem counterintuitive at first, but I guarantee it works if you stick with the plan: Go relax, unwind, breathe- and get away for at least 15 minutes on what you are pushing so hard against. At first this will seem counterintuitive because we buy into the current human condition that in order to achieve, push-through and overcome, one has to work that much harder and longer.
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Do you play golf? Ask any golfer if she is a better golfer when 1) pushing her swing harder or longer, or 2) relaxed and breathing?
Do you see where I am going with this?
You must cultivate the skill to walk away temporarily from a difficult work situation because a fresh and relaxed perspective can increase your efficiency and effectiveness in running your small business. Period. If you don't have a practice in your personal life to help you relax and renew and then implement this technique in your business, do it now! Spend the money on yourself to take a yoga class, join a gym, get a massage, and learn meditation, practice Tai Chi or martial arts; book that weekend at the spa.
4. Are you resisting spending or investing money on things that will create a positive impact on your bottom line?
Women, especially adopt this mindset of scarcity and sacrifice in the wrong area- by not spending money or investing wisely in the #1 asset of your business -YOU. Your business will stand to lose. Stop trying to do everything yourself and rationalize it away by not taking calculated risks in investing monies in the right areas - time and personal management, organization, and other skills that contribute to a more powerful business acumen. Ever heard the expression, "The bigger the dream, the better the team needed."? Successful people always hire the right counsel, coaches and consultants. You must invest in yourself and your ongoing education through courses, books and a personal or business coach so that you can keep upgrading your skills and knowledge. Your business' success depends on this.
5. Do you believe that you can grow your business without business systems?
This one really silences a room full of women small business owners. I know from experience, that business systems appear intimidating to small business owners. But having a good system to automate your business functions is the #1 liberator of the business owner, enabling you more free time and energy so that you can be the business owner and not the full-time administrator. Having a system is as easy as writing a checklist, a to-do or task list- except automated.
Remember that the purpose of your business is to give you a better life. You need to develop your business acumen to have a successful business.
Learn how-to have both a successful small business and a big life at October 16th's "Getting Down2Biz: Succeeding at Your Small Business!"
We will go to work by designing your life plan and business blueprint. You need both to succeed.
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