Running a Successful Business is Like Playing a Sports Game
The only way to win at any sport is that you must play by the rules of that sport. If you violate any of the rules of the sport, you will loose. Regardless if you know the rules or not. Thus, it is critical that you discover, know and follow all of the rules of the sport you decide to play to win.
There are 6 Rules To Become a Successful Business Owner
If you follow ALL 6 of these rules your chances of becoming a successful business owner are excellent.
1. One person, normally the business owner, must have controlling interest in the business. This owner must have, accept, and Want the powers to run and operate the business, as he or she wants to. The owner becomes the king or queen of the business, and seeks and takes full responsibility for the success or failure of the business. 50-50 partnerships or joint ventures without a known and accepted fully powerful one-person leader rarely last. Without a single fully controlling leader, political power plays develop in a hurry, which will destroy any focused teamwork towards a successful business.
2. The owner must create a mission or purpose for the business. This Mission Must Clarify the VALUE, the business generates into the world by virtue of the products or services provided by the business. It will be best if the owner is passionate about completing the mission of the business. The values and/or benefits must be known, and developed, because they are what customers will pay for. The mission becomes the focal point for the business, and the glue that binds the entire business team.
3. Owners must surround themselves with people and or resources who will execute the mission of the business better than the owner. The completion of the mission is critical, and any disruption to completing the mission must be corrected or eliminated.
4. Owners must surround themselves with people and resources who focus their attention on the mission of the business and not on the owner. Once again, most important focus of everyone is to complete the mission and not to focus on the owner.
5. Owners are paid only from the profits of the business. Owners may draw a salary and pay for expenses out of the business, but the business must generate enough profits to fund these payments, otherwise the business will eventually fail.
6. Owners must create their roles in the business that are perfectly suited for them. Owners must take care of themselves first by knowing and then designing their roles in the business to allow owners to fulfill their passions and priorities, follow their beliefs and values, maximize their talents and avoid as many of their self imposed obstacles as possible. As the owner goes, so goes the business. If the owner is confused, stressed out, unmotivated and/or politically selfish, then the business will follow suit and crumble. If however, the owner has a clear and passionate focus on the mission of the business, and is doing what he or she loves in a relaxed and confident manner, the business will grow and prosper as well.
Coaching taught me Management, with a CAPITAL M, of myself, my time and my company.
Thanks to my excellent TCC coach, everything continues to go well with my business. Exactly how has my TCC coach helped me. Let’s look at the facts: YTD our company revenues are 40% over the same period last year. Coaching taught me Management, with a CAPITAL M, of myself, my time and my company. I now to run my business instead of it running me.
Carolyn Morse President. PowerLung, Inc. Houston, Texas
| “I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Edison |
The most effective way to create the Business Owner Success Rules is to engage a Business Coach
Because Your Business Coach will help you achieve the ultimate in self awareness so you become the “World’s Leading Expert on You” so you will gain the Clarity, Confidence and Stress-Free Power of Choice to develop the 6 conditions to fit you-The Owner-leader of your business. Find the Right Business Coach for you.
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History shows that these 6 rules work.
Steve Jobs, Bill Gates and others created very successful businesses by following these 6 rules. Conversely, these same businesses went the wrong way when Steve, Bill and others left the leadership of their business, because some of the rules were then violated. Apple went from a thriving growing business to near bankruptcy after the “Corporate” board fired Steve Jobs as president and replaced him with a politically minded corporate CEO.
Only when Steve was asked back to rescue Apple did Steve impose all 6 of these rules before he would agree to return. And he led Apple to become the most successful and largest small business in the world. Yet, Apple lost over $250 Billion in value, because of his tragic death.