The No. 1 Reason Small Business Owners Don’t Grow (or Don’t Grow as Well as They Could) by Howard Partridge

Vision without action is just a daydream. 

Many times you know what to do and how to do it—you just don’t do it. After coaching hundreds of business owners and addressing thousands, I have found that FTI—or “Failure to Implement—is the No. 1 reason that small businesses don’t grow or do as well as they could. 

Small business owners are so overwhelmed, distracted, and just trying to pay the bills that actually implementing anything additional can be daunting. So how can you overcome FTI?  

The Four Golden Keys to Implementation  

Key #1: Inspiration 

Have you noticed that the most successful small business owners are excited about the future? Have you noticed that they are focused on the possibilities rather than just the problems? They see something others don’t see. They have hope for the future because they know they can grow the business. They know they can improve their lives. 

I call that inspiration. Inspiration is different from motivation. Motivation comes from external forces. You’ve got to make payroll, so you’re motivated to close a sale. Or you get to go to Hawaii, so you are motivated to make that happen. Motivation is created by external forces that may be positive or negative. A reward or a penalty. But inspiration is something that is kindled on the inside. Inspiration happens when you actually see a compelling vision for the future that creates desire to reach that dream. Your dreams fuel your life. No dream, no fuel. No fuel, the vehicle doesn’t move. 

When your feet hit the floor each morning, focus on the possibilities rather than the problems. Focus on your goals. Focus on your vision. Every day. Refuse to be negative. 

Key #2: Organization 

Many years ago, I began a daily habit that serves me well to this day. I started carving out an hour in the mornings to work on my projects. I call this time my “Time Capsule.” This is a capsule of time that I take every day (except Sunday) to focus on my top projects and take action. During this time, I don’t take phone calls and I don’t get involved in anything but working on my projects. The only person who can contact me during this time is my wife. If you have a key staff member who needs to be able to contact you because you are still working “in” the business, let that person know how to contact you, but to only contact you during that time if it is truly an emergency. 

The best time for your Time Capsule is early in the morning before anyone else is awake. Especially if you have young children. Once you get involved in the duties of the day, it’s difficult to get back to your quiet time. Make a pact with yourself and impose a rule that you can’t do anything else until you’ve done your Time Capsule. You may groan at having to get up an hour earlier, but I would ask you if your dream is compelling enough. Do you have a dream? What do you get if you take massive action? What will the outcome be if you actually implement the things you need to implement? What is the cost of not doing it? 

Impose a sense of urgency upon yourself (like the trip to Hawaii) and pretend you are going on vacation tomorrow. Do that every day. 

Key #3: Training 

Zig Ziglar said, “You were born to win, but to be the winner you were born to be, you must plan to win and prepare to win before you can expect to win. But if you plan to win and prepare to win, you can expect to win.” Training is preparing. Training is learning and practicing these strategies until they are second nature. Continue to practice until you develop the skill. 

Learning these strategies is a good start, but you’ve got to get in the ring and spar. You’ve got to train as hard as you fight. So often small business owners use the strategies incorrectly or they cut corners. You must discipline yourself to learn and flesh out the systems in the real world. 

Key #4: Support 

Every business owner needs support, encouragement, and accountability. Support means that you have a group of people around you to help you fulfill your vision, mission, and purpose. This will include your staff, but also should include your peers, and you need a coach. 

Encouragement means that you have a group of people around you who remind you that you can do it. Zig Ziglar said, “Encouragement is the fuel people run on.” I am so grateful for those around me who show me that I can do more than I can ask, think, or imagine. 

Accountability means that you have a group of people who are there to ask you the tough questions. Have you done what you need to do this week to reach your goals? Are you staying focused on your goals? Are you working your plan? Are you developing your systems? Accountability is huge. I am so grateful for those people who are tough enough to ask the tough questions. I don’t always like it, but no pain, no gain. 

I am so grateful for the mentors, coaches, and consultants I have been blessed with in my life and business. We need people who have our best interest at heart, not just someone who has knowledge. You can be inspired, organized, and have the best strategies, and still not implement. The reason? You work for yourself. You aren’t accountable to anyone. You may not be getting the support and encouragement you need from those closest to you. 

Howard Partridge grew up on welfare in Alabama and moved to Houston at age 18 with only 25 cents in his pocket. He started his first business at age 23 and has transformed it into a thriving multimillion dollar enterprise. Howard has helped small businesses all over the world dramatically improve their businesses and lives. His latest book, FTI: Failure to Implement: The 10 Principles of Phenomenal Performance, will be released by Sound Wisdom on February 4, 2020. You can preorder it now from Amazon, Barnes & Noble, Books-a-Million, and Porchlight Books.  

How to Find Your Mastermind by Sharon Lechter

Your associations are among the most valuable resources you have. Are you part of a Mastermind? If so, is it helping you speed your way to success? Here are a few categories to consider to ensure you find your Mastermind of associations that will support your goals. No matter what kind of Mastermind you are seeking, always remember that trust and confidentiality will be key ingredients for a productive group. 

Napoleon Hill coined the term Mastermind in the early 1900s, and he defined it as:  

The coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose. 

Identify the Mastermind You Want  

Today the term is used as a “one size fits all” description for many different types of group meetings. The term is often interchanged with “strategic planning meeting,” “brainstorming session,” or “brain-trust.” I have found that if you further define the purpose of your Mastermind, it will become much easier for you to find your Mastermind. Since Hill also said the first step for achieving your goals is definiteness of purpose, I have combined definiteness of purpose with the concept of the Mastermind principle in the following categories for my business and individual goals. 

Peer Mastermind 

Me working on my business issues while simultaneously helping other peers work on their issues as well. 

I have been a member of the Women Presidents Organization for over 20 years. My chapter is comprised of approximately 15 women who are all the founders, presidents, or top women executives within their specific and unique fields. When I come to the table with an issue in my business or personal life, inevitably several of the other women have dealt with similar issues during their careers. They share their individual experiences with their own journeys…what worked and sometimes even more importantly what didn’t work…and they help me chart a more laser-focused action plan to address my specific issue. The very next month, I may be sharing my personal experiences to help another member of my group address a current issue she is facing. Many of my closest friends have come from this Peer Mastermind. In order to find your Mastermind of peers, be clear on whom you consider to be a peer and what type of common experiences will facilitate the highest level of support for each other. 

Advisor Mastermind 

Me working ON my business with strategic advisors and mentors. 

My advisor Mastermind is essential in helping me chart the strategic vision of my company. By bringing together my financial and legal advisors, along with my mentors who have already achieved success in the field I am pursuing, I draw on an incredible depth and breadth of knowledge of true experts. I often say, “Seek counsel, not opinions.” My advisor Mastermind provides me priceless counsel by bringing their expertise, their experience…and their rolodexes (incredible contacts) to the table.  

Team Mastermind 

Me working IN my business by bringing my internal team together to draw from internal strengths and to better identify internal weaknesses. 

I have an incredible team, and I learn as much, if not more, from them than they do from me. While I am usually out “stirring the pot,” they are back at the office in the trenches dealing with the day-to-day business we create. It is essential that I keep up on the issues they face, the solutions they come up with, as well as the feedback we receive from our customers and strategic partners. A leader’s greatest skill should be the ability to listen. We have a policy of identifying “little wins” at our company so that we bring the positive energy from the celebration of each and every accomplishment into our environment. In order to find your Mastermind team to work IN your business with you, be clear on the skill sets and character traits that will support you today as well as move you in the direction you want to go for the future of your business.  

Personal Mastermind 

Me working on my physical, spiritual, and mental (emotional) goals. 

This has been the most challenging of my Mastermind efforts as I have always felt “I need to do it on my own.” In the last few years, I have realized that having a Mastermind of close family and friends who are committed to each other’s physical, spiritual, and emotional health has built in an accountability that has motivated me to work much harder to achieve those goals. If you are like me and tend to deprioritize you own well-being, having a personal Mastermind is a great way to move your wellness to the front burner. In order to find your Mastermind for areas of your personal life, be sure you are ready for accountability and then give your group permission to call you out if you aren’t keeping commitments to yourself. 

The Takeaway  

Please ask yourself about your Masterminds and where they fall within these categories. Do you need to better focus your current group…or do you need to create a different Mastermind to focus on achieving specific goals for your business or personal growth? The key to finding your Mastermind for any category in your life is to be clear on your goals and outcomes from the group. 

This article originally appeared on sharonlechter.com. Now you can preorder the long-awaited new release from Sharon and co-author Dr. Greg Reid, Success and Something Greater: Your Magic Key, from Amazon, Barnes & Noble, or 800-CEO-READ. In this official publication of the Napoleon Hill Foundation, you’ll learn the success secrets of today’s most prosperous individuals, including John Assaraf, John Ashworth, Michael Houlihan, Bonnie Harvey, and many more.

Grow Your Home-Based Business with Help from the Power Habits® System by Noah St. John

Do you want a successful home-based business? 

Having a successful home-based business means you have the FREEDOM to do what you want, when you want…and also have the LIFESTYLE you desire…along with the EXPERIENCE of knowing you’re making great money while making a difference. 

Would you like me to give you the exact framework that has empowered my clients to find a way to add over $2 BILLION dollars in sales? 

In less than 90 days from now, you could be living a richer, happier life…with more success in your business and personal life…while working LESS than you are now. 

How do I know? Because those who follow my Power Habits® System regularly double their income while working less…sometimes in just a matter of weeks! 

For example, Ray Higdon, who has a successful career in network marketing, reflected after employing my Power Habits® System, “I made my annual income in just 44 days!” 

Prem Jantarapet came to the United States from Thailand with just $18 in her pocket and didn’t speak any English. She wanted to start a home-based business. She learned the Power Habits® System through my Freedom Lifestyle Experience workshop and now makes over $10,000 each month. 

One of the key strategies for creating a successful home-based business is getting rid of your head trash. Head trash is what keeps some entrepreneurs from growing their business. It’s formed from unconscious beliefs that hold you back by producing unproductive and unhealthy behaviors. Have you been missing out on potential customers because you’ve been prey to either fear or procrastination? Have you lost clients to someone else because you didn’t believe in yourself enough? Are people regularly passing up your offers? Head trash is likely the culprit in all these scenarios.  

In order to get rid of your head trash, you need to change your subconscious beliefs. So many people get it wrong by focusing on the external behaviors, but those will only change once your beliefs do. Using my Afformations® Method, one of the components of the Power Habits® System, can help you combat self-defeating beliefs that drive your actions. 

First, identify the habit you want to change. For example: “I want to reach out to more potential clients.” 

Next, FORM what you want into an empowering question that assumes that what you want already happened or is already true. So for this example, you might ask yourself the following: 

Why is it so easy to reach out to potential clients? 

Why are so many people interested in learning more about my business? 

Afformations® are significantly more powerful than affirmations because statements alone do not change your deeply held self-limiting beliefs. If you state, “I am good at reaching out to potential clients,” your brain will likely respond with more head trash like “Hah. No you’re not.” But when you Afform® the same idea and ask yourself about the positive result you envision, your brain is forced to provide a positive argument for your success, which, in turn, alters your belief system in an authentic and profound way. 

Third, you must give yourself to the question. Read your Afformations®, write them, say them out loud, and listen to them—daily, even hourly. Using all four modes of human communication will enable you to change your subconscious thought patterns that have been limiting the success of your home-based business. 

Finally, take new actions based on your new assumptions about life. Right now, you are making hundreds, perhaps thousands, of unconscious assumptions about life and your relationship to it. These assumptions form the basis of how you go through life—positively or negatively, confidently or hesitantly, from love or from fear. However, the problem is that we usually don’t recognize our own unconscious assumptions. 

For example, if you hold the assumption that “Things never work out for me,” your actions will be hesitant, your posture will be one of defeat, and you will tend to give up at the first sign of resistance or rejection. But if one of your assumptions is “Things always work out for the best for me,” your actions will tend to be confident, your posture will be self-assured, and you will persist even in the face of temporary failure. Which means that no matter what you assume, you always make yourself right. To continue our example, act on the assumption that “People are interested in learning more about the products or opportunities offered by my home-based business” by reaching out to them without fear or hesitation.   

Don’t let your head trash hold you back from living the Freedom Lifestyle of your dreams. Preorder a copy of my new book, Power Habits®: The New Science for Making Success Automatic®, and learn how to leverage the five systems of support to: 

• Make a definitive difference in the world 

• Have a genuine impact on the people you’re here to serve 

• Supercharge your ability to attract more wealth and abundance 

• Enjoy more time off without the guilt 

• Overcome the fear of failure so you can achieve more while working less 

By preordering your copy by September 21, you’ll be able to claim up to $599 in free bonuses, including live video trainings to empower you to live the Power Habits® System. 

Six Fundamental Business Lessons Every Entrepreneur Can Learn From Walt Disney by Shawn Doyle, CSP

Everyone knows Walt Disney. Almost everyone has been to a Disney park somewhere, seen a Disney movie (live action or a cartoon), or knows some Disney character. Some people even go on Disney cruises. I think in some ways people know more about Disney, but fewer people about Disney the man. Walt was a visionary, an entrepreneur, and a creative genius. There are some invaluable lessons every entrepreneur can learn from what he was able to accomplish in his life.

Lesson #1 – Never give up. Many people don’t know that Walt Disney was not an overnight success. He started several companies that went bankrupt. He started a commercial art studio, and it tanked. He tried to create advertisements, and they also failed due to lack of revenue. Instead of giving in or giving up, Walt always just tried the next thing. As Walt said, “All the adversity I’ve had in my life, all my troubles and obstacles, have strengthened me… You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.”

Lesson #2 – Be a problem solver. Walt Disney was the consummate problem solver. He was very observant and was always looking for ways to solve a problem and thinking of how it could be an opportunity in the marketplace. He took his daughter to a park to ride some rides, and he noticed the rides were dirty and in bad shape, and the people operating the rides were rude. This problem that he thought about became Disneyland. He wanted a place that was safe and clean, where parents could take their kids. As Jason Kilar once said, “When I was 10, we drove to Disney World. When we arrived, what impressed me most was the meticulous attention to detail; there wasn't a gum wrapper anyplace.”

Lesson #3 – Be willing to reinvent yourself. Many people don’t know that Disney’s first major cartoon star was not Mickey Mouse but Oswald the Lucky Rabbit. He had signed a contract with a distributor for the short cartoons and was thrilled with their success. When he went to renew the contract, they fired Walt and said that they legally owned Oswald, not Walt Disney, as outlined in the contract. Even worse, all of Walt’s animators left Walt and went to work for the other company. Walt went home having lost his biggest success. He had to start over. As he said: “Mickey Mouse popped out of my mind onto a drawing pad 20 years ago on a train ride from Manhattan to Hollywood at a time when business fortunes of my brother Roy and myself were at lowest ebb and disaster seemed right around the corner.”

Lesson #4 – Surround yourself with talent. Walt Disney admitted that he was not the most talented at drawing or animation. As he once said, “I started, actually, to make my first animated cartoon in 1920. Of course, they were very crude things then and I used sort of little puppet things.” He was brilliant at knowing what he did best and was able to hire the best artists and animators in the world. The person who animated Mickey in the early was not Walt but an animator named Ub Iwerks. Walt didn’t have to have the talent for drawing, but he had the vision. It’s like being an architect—you don’t have to be the general contractor; you just have to know what you want the project to look like when it is done.

Lesson #5 – Be curious. Walt was an inquisitive soul and always wanted to learn new things. In animation, this led to some stunning developments in the early years. He is famous for making the first sound cartoon, the first live action and animation mix film, and the first full-length cartoon movie. Until Walt, cartoons were fluffy, short, mindless clips that came on before the main feature. Here is the point, and don’t miss it—he didn’t know how to do any of those things, but his curiosity led him to investigate and figure it out. Walt said: “We keep moving forward, opening new doors, and doing new things because we’re curious, and curiosity keeps leading us down new paths.”

Lesson #6 – Diversify. Walt was smart enough after building a successful animation studio to get into live action movies, documentaries, television, amusement parks, and tons of products. He could have just run an animation studio, but that would not have created the kind of success his company had. I think Walt said it best: “Times and conditions change so rapidly that we must keep our aim constantly focused on the future.” Every business needs to keep looking at ways to grow and diversify.

This article originally appeared in Entrepreneur and has been slightly modified for republication. For more business and personal development insight from Shawn Doyle, CSP, check out his titles from Sound Wisdom, including his Jumpstart Series, The Sun Still Rises, The Leadership Manifesto, and Two Months to Motivation.