Unleash Your Inner Business Titan: Strategies to Empower Yourself and Your Company
As an entrepreneur, how often have you found yourself falling short of your goals?
Do you take two steps forward only to take 4 steps back?
This happens on account of the gap that lies between aspiration and realization.
It is no wonder that 90% of startups fail, and of the 10%, more than half fail within five years.
Can the statistics be changed?
Yes, it can. All one needs to do is get one's priorities right. Entrepreneurs need to start by focusing inward on their mindset and approach to leadership, an essential step towards developing a mental framework that propels both the entrepreneur and their team to success.
To develop such a framework, Entrepreneurs need to focus on techniques such as goal setting, mental activation, and empowering leadership, thereby bridging the gap to manifest their dreams into success.
Cultivating the Entrepreneurial Mindset
Creating a resilient entrepreneurial mindset is the key to bridging the gap between an idea and its successful implementation.
Transforming the mindset is easier said than done. It requires an individual to focus on goal-setting, which engages the brain's Reticular Activating System (RAS). This neurological process is crucial in filtering and focusing on what's essential, turning awareness towards the key opportunities and actions that align with the goals.
As Business Coaches, we employ another approach to cultivate this mindset, harnessing the power of manifestation through a methodical technique known as Idealization, Verbalization, Visualization, and Manifestation (IVVM).
The process begins with the entrepreneur articulating their ultimate objectives (Idealization), stating these goals through positive affirmations (Verbalization), vividly picturing their achievement (Visualization), and actively working towards these outcomes, thereby bringing them to reality (Manifestation).
Let's take a look at an example to understand this concept. Mukesh Ambani's Reliance Jio revolutionized India's digital landscape by first conceptualizing affordable, high-speed internet for the masses. Ambani verbalized this vision, promising a digital revolution. Through detailed planning and infrastructure development, Jio visualized a comprehensive 4G network and digital ecosystem. The manifestation came with Jio's launch, offering free 4G services initially, dramatically lowering data costs, and significantly boosting India's internet usage, going from an ambitious idea to a nationwide digital phenomenon.
By internalizing these principles, entrepreneurs can focus clearly on the necessary steps to attain success.
From Being to Doing to Having
We're often clear on what we want to achieve (HAVE), but the journey to get there can seem unclear. That's where clarity becomes crucial.
Introducing,
the BE x DO = HAVE framework a pivotal yet straightforward formula for entrepreneurs aiming for success.
This formula simplifies entrepreneurial success into three essential components: BE, DO, and HAVE.
Who One Needs to BE
What One Needs to Do
To get the desired HAVE
A simple yet powerful framework underscores the fundamental significance of self-identity and mindset (BE) as the foundation for actions (DO) that drive desired outcomes (HAVE).
At the heart of this framework lies the notion that success originates from within. Entrepreneurs must cultivate and exhibit the qualities, mindset, and traits necessary to embody individuals capable of attaining their objectives.
Once this internal alignment is achieved, entrepreneurs can undertake actions (DO) that are not only effective but aligned with their core values.
Consequently, their accomplishments (HAVE), serve as both external markers of success and reflections of their internal growth and alignment.
Prioritizing the BE aspect necessitates entrepreneurs' investment in personal development, mindset cultivation, and self-awareness. This inward focus acts as a catalyst for action, ultimately yielding tangible results.
A Leadership Blueprint for Entrepreneurs
A central piece of the puzzle for entrepreneurs to turn their vision into a reality is to enrol and inspire their team. The process begins with clear communication, where the entrepreneur articulates their vision in a manner that is both compelling and accessible to the team to get a buy-in.
Entrepreneurs must present their goals as a collaborative endeavour, creating a shared belief in their attainability and transforming the workforce into a cohesive unity driven by a common goal.
Beyond the initial engagement, Entrepreneurs need to set SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals that provide direction for teams to work towards and set the relevant benchmarks for success.
SMART goals help teams see their role, making the vision tangible while creating an environment that values growth, learning, and open communication and inspires employees through recognition and encouragement.
Over the long term, the key to sustaining success is displaying qualities of leadership that inspire trust and respect. Entrepreneurs need to "WALK the TALK" i.e. adhere to the vision and values that they profess, thereby motivating their teams to embrace challenges and roadblocks with enthusiasm.
Bottom Line
The journey of empowerment for both yourself and your team extends far beyond implementing these strategies—it marks just the beginning. In the long term, entrepreneurs must commit to ongoing evolution, pushing past the boundaries of current success to explore new horizons and challenge the limits of what's achievable. This commitment to continuous growth and innovation is essential for staying ahead in an ever-evolving business landscape and unlocking new possibilities for success.
Read More: Long Term Vision Vs Short-Term Wins in Business Strategy
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