In the final article of the series, Dan Sullivan, founder and president of entrepreneurial coaching company, Strategic Coach, discusses some of the key strategies that enable entrepreneurs to break free from the complexities which limit the growth of their business and add a great deal of stress to their lives. (Sponsored)
Strategy number eight: Take time to plan your future
Investing time to set long-term business goals is essential to achieving significant growth and development. It is also imperative to consider how you will achieve these targets. By taking time away to reaffirm your overall vision, you can establish a clear and well-informed direction for your business.
Far too often, entrepreneurs are so consumed by their work, they end up creating a job for themselves instead of a business. This can be incredibly damaging because it prevents you from taking the time to think about the direction of your business, review your long-term strategy, and plan for the future.
Interestingly, one of the biggest benefits that Strategic Coach clients mention to me, from learning in a workshop environment with other business leaders, is that they’re held accountable by the other participants in their group. Being around others who share the same experiences as you can often bring fresh insight into the decisions that are going to generate the best results for your business and personal life.
To achieve this, it’s vital to take regular breaks away from your business to meet up with other like-minded peers—to review progress, plan out goals for the next quarter, and identify and prioritise obstacles and key actions. Doing this every 90 days, aside from being rather fun, is a great way to focus your goals, plans, and progress so you can achieve great results for your business.
Strategy number nine: Be positive and confident in your approach
Confidence must be protected. It forms the foundation of all your abilities and is crucial to achieving long-term success.
It is therefore important to maintain an ongoing sense of optimism and positive perspective. Focusing on the concrete progress you’ve made, rather than on the level of work you need to do between now and the fictional horizon, can be incredibly energizing. If you lack confidence, it’s usually because there is a gap between what you expect to happen and your current situation.
If you have confidence in your own progress towards the most important goals, it creates a contagious positive energy that will permeate your entire company.
Protecting your confidence ensures that you turn fear into focused and relaxed thinking, weaknesses into advantages, setbacks into breakthroughs, dangers into opportunities, and obstacles into innovations. You can protect your confidence by using tools which focus you on crucial results and continual verification, leading to week after week, month after month, and quarter after quarter of forward progress towards a clear set of goals.
Strategy number ten: Have a break from your business
Typically, Strategic Coach participants take 150 days off each year after just three years in the Program. What's more, over that same period of time, they also dramatically increase business growth and productivity, and on average double their own personal annual income.
Spending time away from your business is a major requirement for any entrepreneur; it results in a dramatic increase in productivity, income, and the growth of your business.
I realise that many entrepreneurs currently struggling with stagnant growth who find themselves working 10-, 12-, even 14-hour days with very little, if any, time off may find this unbelievable. However, it’s a common misconception that the path to greater productivity, growth, and wealth is paved with longer working hours.
Being mentally exhausted, having loved ones disappointed by your continual absence, or not allowing yourself the required amount of time to recoup your energy is ultimately counterproductive.
It’s therefore crucial to move from a "time-focused" to a "results-focused" business. This means shifting your focus from your number of working hours to progress, accomplishments, and high-quality results.
Rest and relaxation are not luxuries; they are essential for remaining in peak shape, both mentally and physically. The top one percent of entrepreneurs know that performing at a high level with maximum productivity requires rest. This is the only way to maintain a clear focus and creative thinking whilst creating a buffer against stress. It's essential for implementing the strategies we’ve covered over this series—the strategies of the most successful entrepreneurs.
I hope these strategies will prove to be as useful to you and your business as they have been for me and my clients.
You've worked so hard to build a business; now, it's time to build it into the business you've always dreamed it could be, whilst having more free time to enjoy life.
Real Business readers can apply for complimentary tickets here to Strategic Coach’s upcoming event in London on 6 March, where these breakthrough strategies will be discussed in more detail.