What Do Exceptional Performers All Have In Common?

What Do Exceptional Performers All Have In Common?What makes some business people more successful than others? According to Earl Nightingale, a famous radio personality and producer of self-improvement cassette programs said that to be successful, your rewards should always be in direct proportion to the amount of service you render. As such, people who serve others, prosper while those who do not serve don’t.

What Failures Don’t Like to Do

As a business owner, serving your customers’ needs effectively means that you must do the things that unsuccessful business owners don’t do. The things that those unsuccessful people don’t do are the things that most of us don’t like to do either.

There is no doubt that it is difficult to work long hours or on weekends when your family is waiting for you at home, and only have a couple of “shoppers” stop by or be stood up for an appointment someone made with you.

Enough of these experiences can be discouraging for anyone. And after a while, some people just quit trying. But if you keep up the quality of your service to your clients and customers, they will more and more continue to do business with you because that kind of personal service is very hard to find. In the end, it is what makes the difference between the successful and unsuccessful business.

Personal Qualities for Success

Service is essential, but there are also a number of other personal qualities that if developed, will help you to become successful in your business endeavor.

Sacrifice and Determination

For everything in life, there is a price and in many instances, sacrifice. If you want to reap the rewards a successful business can provide, you’re going to have to do what Earl Nightingale said. You are going to have to do “…the things that unsuccessful business owners don’t want to do.”

That may mean leaving the comfort of your store or office to see what your customers need even during inconvenient times. If you are just starting out in or want to increase your business and achieve some new goals, then you may have to make that sacrifice. It is important to be sure that you have the support of your family, along with tons of patience and understanding, as they will be making sacrifices as well.

Self-Responsibility

You are responsible for the success of your business and your life. There are no excuses. However, do not discount the possibility of setbacks. Your family situation may change; your suppliers or vendors may discontinue selling, economies change and corporate policies change and so on.

While those things definitely have an impact on the way you do business and the sales you make, it is important to realize that those things are beyond your control. But for all other things, here’s a little credo that can help you. It contains just ten, two-letter words:
“If it is to be, it is up to me.”

That simple one-line sentence says it all. It places the responsibility exactly where it should be… directly on your shoulders.

Commitment

Commit to your success. Once you have made the decision to be in business, be in that business. Get into it with both feet. Don’t let anything hold you back.
In the same veracity, see to it that the business gets into you. This can be done by focusing on one business at a time. Don’t try to work two different jobs or projects at one time. You can’t do either of them justice, and you’ll likely end up frustrated and broke, and never know whether or not you could have been successful. Set your goals and then keep yourself moving toward them.

Go the Extra Mile

It’s the “Under promise, over deliver” concept, and can be summed up in the following statement coined by Robert Cialdini in his book, “Influence: The Psychology of

Persuasion”:

“If you are always willing to do more than what you get paid for, the day will come when you will be paid for more than what you actually do.”

So, when you go the extra mile for your customers or clients, you’ve just set the stage for the Law of Reciprocity to take effect. But it’s only on that “extra mile” that this works. When you give what might be considered “normal” service, or “adequate” service, or even “good” service, or even “knock-out” service you haven’t earned the right to expect that law to work for you.

You’ve really got to do something special in order to gain an advantage in today’s highly competitive marketplace. Then, and only then, can you expect to create that compelling desire in your customer to want to reciprocate.

After all,“there’s no traffic jam on the extra mile.”

Time Management

Your time is precious because it is a finite commodity; therefore, it is important that you master and take control of it. You must treat your time as precious, and guard it wisely and selfishly. Don’t let anyone disrupt you or take you away from.

People who don’t have goals are used by people who do. If you let others draw you away from your goals, you are simply saying that their goals are more important than your own. So if you are serious about business success––really serious, then this is one of the most important and critical areas to defend.

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Why Do Most Businesses Fail Within 3 Years or Less?

Why Do Businesses Fail?
Even though you may have been in business for years, there are some little known facts about succeeding and failing in business that you need to know.

Success rate; this fact will amaze you: only 6.1% of small businesses fail to make it through the first year.

Despite all the myths and horror stories to the contrary, this small percentage means that most businesses survive the first year. They actually operate quite well for the most part and go on to last approximately three years.

It is the next three years that begin to separate the true successes from the failures. These next three years, from the third to the sixth, are where businesses run into rough terrain and failure can become a reality. If a business makes it to the ripe old age of ten, it falls into an elite group which is composed of only one in 25 businesses.

What are the basic reasons which cause so many businesses to falter, fail and close their doors? The answer to this question may surprise you… the essential blame for this failure can be placed squarely on the shoulders of the business owner; YOU!

That’s right, over ninety percent of small businesses fail because of the business owner or CEO!

Ninety percent! You might think that such a large percentage must be caused by a complex range of factors that are far beyond your control such as international competition, or industry slumps, and that they combine to unavoidably spell doom and destruction for business owners; but it is not. In all the years I have been in the business of helping businesses to become profitable, I have found this statistic to be true 98% of the time.

The primary reason for this rate of failure is that 90% of small business owner’s, or CEO’s, simply lack the necessary skills and knowledge to succeed.

In fact, a whopping 70% of failures are due to the owner not recognizing or even ignoring weaknesses in the business. This is further exacerbated by not seeking help and not taking action when new information becomes available about how things can be fixed.

The sad truth is that only five percent of business owners will even recognize that they have any issues and ask for help. That’s correct… only five out of every one hundred business owners will:
• Realize they have a problem in their business.
• Seek guidance on how to solve their problem.
• Implement the solution.

Failure to Criticize Means Failure to Thrive

According to one of the greatest students of human nature of all time, Dale Carnegie, “…I personally had to blunder through this old world for a third of a century before it even began to dawn upon me that ninety-nine times out of a hundred, people don’t criticize themselves for anything, no matter how wrong it may be.”

This means that often the minuses that you have previously attributed to your business are, on closer inspection, more likely to be problems arising with you as the owner or CEO. In addition, as the business owner, you remain your business’s biggest potential problem.

Armed with this knowledge, you can begin to look for help but not through books, courses and programs that are aimed only at improving your business. These business improvement systems do not target the 90% statistical root of the problem, the business owner. Again, no one wants to admit that they are the cause of the problem, but until you do, or at least until you admit that you are potentially the source of future problems in your business, nothing will change.

Let me share with you a personal experience.

Recently I was sitting with a client who is a mortgage broker. This client was complaining about the amount of paperwork that they had to process before they could even begin visiting and assisting clients. The banks and aggregators “require” an ever increasing amount of paperwork and compliance documentation. My analysis immediately suggested a solution which focused on outsourcing these low-value tasks. As we worked through the steps required to process the papers – it became apparent to the broker that this was indeed mundane work and could easily be outsourced. Over the next two weeks, my client developed a description of the low-value tasks and offloaded it to an offshore outsourcing company. What used to take my client 3 hours each day is now accomplished, summarised and e-mailed to him. The net result is that my client can now concentrate on real paying clients, and there is a massive reduction in frustration, which has resulted in a much happier broker.

So did the broker know what needed to be done? Maybe – but it wasn’t until I spoke to him about the possibilities that it became apparent.

So, what accounts for this statistic? What happens in a business that is different after the first three years and why is it the owner’s fault? The answer is simple, it lies in the natural progression and growth of a business.

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10 MUST Do’s

  1. From now on, every time anyone asks you how you are, the out loud answer is always and forever a very, very positive positive! [Great!  Terrific!  Fantastic!] NO MATTER HOW YOU REALLY FEEL!  It doesn’t matter!  You are trying to change you!  FOREVER!
  2. From now on, you commit to taking full and total responsibility for your circumstances, your results and how you feel! It will always be your responsibility and that of your brain cells and no one else’s!
  3. From now on, you will always learn new things everyday!
  4. From now on, you will stop yourself from completing any and every negative thought or words, and turn them into a positive, before you go on to anything else!
  5. From now on, you will always every day do something new, strange, crazy, silly, out of the box, embarrassing, or that is otherwise “not like you”.
  6. From now on, you will always, set a goal by putting it down in writing.
  7. From now on, you will willingly and eagerly fail at something important every day—and learn from it!
  8. From now on, you will every day of your life, tell at least two people that you love them. (One should always be you, even if you don’t believe it yet!)
  9. From now on, you will every day of your life, do an exercise regimen for your brain or your body. (Preferably both!)
  10. From now on, you will stop and look to see what everyone else is doing, and then choose to probably do the opposite!
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Mind map of Richard Branson thinking

And signed by him to boot…  Click to Expand.

Sir Richard Branson's Signed Mind Map.

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Avoiding SCAMS

The last several years, I have seen an increasing number of people defrauded by investment scams, probably made easier because of all the money everyone is making in the stock market. But before making any investment, you should ask the following 10 questions:

1. Is the investment audited by one of the major international accounting firms? Real investments are audited by one of the large international accounting firms; indeed, a real investment will hold this out as a selling point. On the other hand, a scam investment will not be audited by anyone, or by a small firm nobody has heard of (and may in fact be a sham).

2. Is the investment registered with your state securities commission or with the SEC? Real investments must be registered with your state securities commission, or with the U.S. Securities & Exchange Commission. This is true of offshore investments which are marketed to you in your state — they must be registered as well, and avoid anyone who says they are “exempt” because they are offshore. Avoid unregistered investments.

3. Is the investment listed in the Wall Street Journal, London Financial Times, or similar well known financial publication? Real investments will be listed in a major financial publication, or findable in some other major financial resource. You typically can’t find scam investments in these publications. Beware “CUSIP” numbers as an “authentication” of the investment — anyone can get a CUSIP number for just about anything so this doesn’t help you.

4. Is everything about the investment out in the open? Real investments are completely “transparent”, meaning that you can clearly see and understand each and every step of where your dollars go and how they grow. Scams hide or obfuscate one or more parts of the plan, speak in terms of secrecy, may allude to a “secret banking system” or similar nonsense, and might even require you to sign a secrecy or confidentiality agreement prior to seeing the plan (it will almost always be a scam if you have to sign such a document).

5. Are you allowed to seek independent legal counsel prior to making the investment? Real investments will encourage you to seek independent legal and financial advice prior to making the investment. Scam investments will give you bizarre reasons why you shouldn’t talk to someone, such as “CPAs are trained not to speak of this!”, and they may even require you to sign a secrecy or confidentiality agreement which will discourage you from consulting anyone before making your investment.

6. Is the seller licensed with your state securities commission or with the NASD? Real investments are sold by licensed stockbrokers who are registered both with your state security commission and with the National Association of Securities Dealers. Scam investments are sold by scam artists who are not registered with anyone, or perhaps with some phony-baloney foreign stock exchange (or more recently, “cyber-exchange”).

7. Does the promoter have a good background? A real promoter will be “clean” and you can verify this by hiring a private investigation firm to conduct a basic investigation. A scam artist will often be using an alias, and will often have a criminal background (though not always).

8. Does the investment “make sense”? Avoid all unregistered investments which are “guaranteed” as this is a sure sign of a scam (if the guarantee would be real, it would be registered). Avoid investments which make representations which are unusually high, i.e.,funds and programs which promise to pay more than 50% per year, or promissory notes and CDs which promise to pay more than 10% per year.

9. What does law enforcement say about this investment? Don’t hesitate to call law enforcement, such as your state security commissioner or attorney general, before you invest. A real promoter will have nothing to fear if investigated (and can probably clear it up with a phone call). This is just a part of doing business for them. On the other hand, a scam artist probably will not stand up to this scrutiny.

10. Is it too good to be true? If you have to ask yourself this question, it probably is.

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