Archive for March, 2016

Choose One Project

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I’m just like you — just like every entrepreneur I know. I have a million ideas and I want to do them ALL right away!

Here’s how that’s killing your business.

I learned an important and enlightening lesson last year that I’d like to share with you. By focusing all my attention, energy, time and resources on One Big Project, I increased my income — and more importantly, I was happier and more relaxed.

I was shocked!

Even though experts had been telling me for years to focus on just one thing, I didn’t want to give up my freedom and creativity. I liked having multiple projects to work on. It made me feel vibrant and alive.

But it also made me feel unproductive, cranky, overwhelmed, and a nervous wreck. And guilty because I was having a hard time completing just one of those projects to my satisfaction. Hmmmm.

Imagine you are driving down a busy highway at rush hour. Now imagine that there are three other people in the car with you, all trying to have a conversation with you. Now your cell phone rings. In between all this talking, ideas pop into your head so you pull out your mobile device to type in some text notes.

Crazy, right? You’ll have a car accident any minute now.

Yet that’s exactly what you’re doing to your business when you try to focus on multiple projects or multiple goals simultaneously.

Multi-tasking Myth

In the 1740s, Lord Chesterfield said, “There is time enough for everything in the course of the day, if you do but one thing at once — but there is not time enough in the year if you will do two things at a time.”

Doing more than one thing at once doesn’t get more done and doesn’t make you more efficient. Recent studies by several research teams prove this point.

According to researchers at the University of Michigan, when you toggle between multiple tasks or multiple projects, you are using what’s known as the “executive control” process. This mental CEO has to choose priorities and allocate thinking/creativity resources. The more you switch between tasks, the longer it takes to re-focus attention and resources.

David E. Meyer, a cognitive scientist at the University of Michigan said in a recent New York Times article, “Multitasking is going to slow you down, increasing the chances of mistakes.” When it comes to your business, mistakes will cost you. Can you afford to lose time or money?

On a practical level, working on multiple projects simultaneously made me feel scattered, out-of-control, and diffused my intellectual and creative abilities. When I slowed down and focused on one major project for a full two months, four great things happened:

  • I felt more in control
  • I was much more relaxed
  • My confidence soared
  • I was able to get the project completed a full four weeks ahead of schedule.

It was as if I had been released from a multi-tasking prison of my own making.

Talk about freedom!

Choose One, Master It, Move On

In his book, “Getting Things Done,” David Allen suggests you create a list of “Areas of Focus.” Start by looking at the areas you manage in your business (you can create a separate list for your personal life). In business you may have these areas: marketing, sales, finances, customer contact, product/service development, operations/administration, long-range planning/strategy, etc.

Next, list all your possible projects in each of these areas. Once you have your full projects list, look them over and ask yourself:

  • Which project will most likely lead me towards my large business goals?
  • Which project will lead me in the direction I want to take for my business?
  • Which project am I ready to tackle now?
  • Which project inspires me?
  • Which project scares me?

Then choose one project that will have the biggest impact on the success of your business.

If the project scares you, ask yourself why. Figure out where you’ll need some help, education or resources in order to complete that project.

In speaking with some of my mastermind group members about this subject last week, they reminded me that you don’t have to focus on one thing for an entire year. Try it for three months or six months, and see what results you are getting, both financial and emotional.

Once you complete a project or master a new skill, then you can move on to the next one on your list. In this way, you can have both things in your life: a successful business and getting multiple things done in one year.

First, choose one project. Finish it. Then move on to the next.

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Category: Business Strategy & Planning, Managing Projects, Tasks & Time
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Small Business Fear, Success, and Daily Rituals

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What makes one small business owner more successful than another? Trust me, it’s not lack of fear.

We’re all afraid of failing, of our offer being rejected, of making a complete flop of a project, of screwing up a business relationship.

What’s the difference between entrepreneurs who are successful and those who aren’t? Successful entrepreneurs have an even bigger fear: fear of what their life will look like if they don’t pursue their dreams.

They aren’t willing to settle for the way things are now. They don’t sit around hoping things will change. They take action. They go out and try things.

They can’t stand the idea of missing out on the big win, or how they will feel about themselves if they don’t put their total focus, emotion and effort into creating the life they want.

Successful entrepreneurs love to feel progress; they like to move forward towards their goals. They don’t wait until they’ve hit rock bottom and are so desperate that they’re finally motivated enough to do something about their situation. Instead, they create clarity about what they truly want and then they take action each day.

Six things successful small business owners do daily:

  1. Constantly ask, “What’s next for my business?”
  2. Understand your motivations and why you want your goals.
  3. Choose one thing each day to focus on and accomplish, even if you only have 15 minutes a day to work on that one thing. Daily momentum is what creates success, not the huge once-a-year breakthroughs.
  4. Only work on projects and goals that you’re passionate about and will lead you to your ultimate goal.
  5. Know that if you follow a set of steps that you’ve outlined for your business or project, that you will achieve your goals. It goes beyond merely “believing” that these steps will create the outcome you want; you know they will at a gut level.
  6. Trust yourself and be willing to make mistakes and try new things. What you’ve done previously had a certain result. Doing that same thing again will simply get the same results. So trying new things is the only way to break out of the pattern of getting the same results over and over again.

Five morning rituals of small business success

Most successful small business owner I know have a quirky morning routine that goes something like this:

  1. Every morning, map out in your mind what you’re going to do that day. Imagine it before it becomes a reality so you can repeatedly “practice” these steps to success. Imagine what the results will look like and feel like once you’ve achieved your goals.
  2. Imagine what “a little further” feels like and enjoy playing this imagination game with yourself.
  3. Tell yourself emphatically, “THIS is how it’s going to be.” This keeps you fresh and motivated, and changes your limiting beliefs into empowering beliefs. If you see the results in the advance, you condition your mind to know what’s possible.
  4. If you can’t envision what a future success looks like, spend time remembering what past successes look and feel like, reminding yourself that you’ve been successful before and you can do so again.
  5. Don’t just do it once, or even once-in-a-while…envision your success every day. (Twice a day, if you need to!)

You can let disappointment kill your dreams — or you can take disappointment and let it drive you towards success.

People who are fearful of getting hurt, rejected or disappointed never even attempt to reach for their dreams. But successful entrepreneurs know that hurt, rejection and disappointment are part of life. They don’t try to avoid them, they use those feelings to propel them forward.

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Category: Business Strategy & Planning, Running a Strong & Efficient Business