It’s generally accepted that it’s a good idea to learn from your mistakes. However, when it comes to the world of business, I’m surprised how many company owners continue to make the same habitual errors, time and time again. They tend to do the same things again and expect a different result every time.
In the past, I’ve encountered entrepreneurs who ‘shoot from the hip’ when they make business decisions. Of course, we all do this on occasion. But when the majority of those decisions turn out to have a negative impact on the company, that’s when you know the approach isn’t working!
However, in spite of the unfavourable results, they still adopt the same approach – continuing to shoot from the hip, in the blind hope that just this once, the decision will work out for the best. Let’s just say that this isn’t the best way to go about making important business decisions.
Breaking the Pattern
It’s very difficult to change the routine of decision making, once you develop an ‘established’ way of doing things. Whatever your approach, from making spur-of-the-moment decisions, to refusing to ever step out of your comfort zone, rejecting a change in tactics can be a risky strategy. Being unable to alter your approach means that you’ll never be able to properly develop your business and prepare it for meaningful growth.
Take the time to reflect on your business practices. Are you stuck in a rut? Do you continue to take the same action in certain situations, even though it doesn’t always benefit your company? If so, it might be time to adopt a new approach, and to challenge your existing way of doing things.
Challenging the Routine
The following are a few ways in which you can break free of your current ‘rut’ and adopt new, innovative approaches.
Involve Others. The important business decisions don’t always have to be made by you, and you alone. Sometimes, it’s a good idea to bounce ideas off others. After all, you’re not infallible, and there may have been something you’ve overlooked or disregarded. Better still, someone else may be able to offer you an alternate point of view, or provide you with a suggestion that you hadn’t considered previously.
Think About the Results. Rather than leaping into decisions instinctively, weigh up the possible outcomes, including the best and worst-case scenarios. If you find this process difficult, grab a piece of paper and jot down some notes. Sometimes, writing things down can make potential pitfalls far more evident.
Evaluate Your Options. In business, you’ve often got a range of options to fulfill a goal, not just one or two. Don’t fall into the trap of just considering the obvious strategies and decisions, bear in mind that there are always plenty of opportunities to think outside the box and act accordingly.
Hire a Business Coach. If you’re looking for long-term results, hiring the services of a business coach can be incredibly beneficial. They’ll help you to identify habitual behaviour, and work out whether it’s having an adverse effect on your company. They’ll also challenge you to think outside the box and to try new approaches – which is the best way of generating meaningful results.
If you’d like to find out more about working alongside a business coach, and taking your company to new levels, simply get in touch with me today.