I started a business in 1997 and eventually sold it in 2013. As an up and coming business owner, I tried to learn how to be a business person as my business grew. I had always been a quick learner and loved reading and learning new topics. What I was not good at learning, was understanding MYSELF. That’s right. While we think we’re an expert on who we are and what we want and how we do things, our thinking is naturally biased and quite contaminated. It’s because of this struggle I had for 16-years in my business that I decided to become a business coach two years ago.
The purpose of this blog post is not to talk about myself, but instead to talk about some fundamental business concepts and how we tend to sabotage ourselves. There are eight fundamental business categories that are necessary to be a strong business owner. I will publish a blog post each day for the next 8-days that outline each area in detail so that you can understand how they can contribute to your success or failure as a business owner.
The eight business fundamentals include:
These eight areas make up what I call the Business Wheel. Like any wheel, if it’s out of balance, you will either crash your business; or struggle with moderate success for several years. Likewise, if you understand where you need to improve your thinking in each area, you’ll not only succeed in business, but you’ll create an amazing business and personal legacy.
In each of these eight posts, I will cover two areas that reside in each of these categories: 1) Mechanical; and 2) Mental. Mechanical means that there’s a proven RIGHT WAY of succeeding in this area of business. Mental means the way you THINK about that specific area of business. What I’ve found with my business owner clients, is they tend to focus primarily on the “mechanical” and ignore the “mental”. I will discuss the “mental” in terms of ENERGY.
What is Energy?
Energy is the way that we approach whatever it is that we do in life. Us Life Coaches call it the way we “show up”. Bruce D Schneider of the Institute for Professional Excellence in Coaching or iPEC, has classified this energy into seven distinct categories called Energy Levels. The list of energy levels are:
- Level 1 – Victim – I lose: You feel helpless and at the control of something outside of you.
- Level 2 – Conflict – I win, you lose: You feel in conflict and competitive with those around you.
- Level 3 – Responsibility – I win: You are great at rationalization; and highly responsible for your actions.
- Level 4 – Compassion – You win: Your care for others tends to exceed care for yourself.
- Level 5 – Opportunity – Win, win: You look for opportunity and benefit in everything.
- Level 6 – Synergy – Everyone wins: You start to see beyond your sphere of influence into a broader community.
- Level 7 – Awareness – Winning & losing don’t matter: You are a natural and perpetual creator.
This paragraph is a gross oversimplification of energy levels that you can learn in a year-long course at iPEC; but I hope that you get the general picture. There’s no GOOD or BAD energy, but lower energy levels tend to wear us down; while higher energy levels tend to build us up.
I will use this terminology and explain how these energy levels impact your thinking as a business owner as I go through the eight blog posts that follow.
If you want to explore your own Successful Business Mindset, you can sign-up and use the Business Wheel tool that I have created to see how well you are approaching your business ownership role below.
As a long-time small business owner, I know how hard it is to create the business of your dreams while struggling with the financial realities of attracting prospects, converting those prospects into high-paying customers, and making money for you and your family. The biggest mistake in my past was not seeking the advice of wise counsel sooner than I did. I don’t want you to make the same mistake. I help my clients see exactly what they need to work on in their business by doing the Business Wheel exercise. If you’d like to try it out, sign up to the right. It’s completely FREE.