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.