Do you have the “right stuff” to be a Rainmaker that your business needs?
Do you have the right stuff to generate the revenue, build the business to make sure your business is sustainable and profitable long term?
These are often the thoughts I’ve had and my clients have had about their business potential. These are not negative questions, I think they are healthy questions.
Only you know if you have what it takes.
I want to clarify that headline. No one actually knows IF they truly have the right stuff to own and run a business.
When I say "right stuff" I am not referring to confidence.
I am talking about whether you have evidence, have done the research and have experience and a track record that verifies that opening and running this business is worth the risk.
I can say one thing is absolutely true, over-confidence is NOT a guarantee of success or profitability. The journey of building a business will reveal your leadership deficiencies, unexamined assumptions and flawed strategies.
Opening and operating a business is a significant learning journey. In our experience, over confidence is an indicator of increased risk. We advocate for a more scientific, evidence based approach to opening, building and structuring a business.
There are many skills required to open and operate a business. Some of these skills you have, many you will need to develop. This is because as the business grows it will demand more and more from you as the owner.
It is natural to feel confident to handle many of the projects and tasks because of your experience, training and track record. That said, you need to be level headed, understand how your own biases play in your decision making. There will be days when will feel that you are in over your head.
It's alright to feel like you are in over your head. It is likely a sign that the business is growing or something has happened that you never anticipated.
For example, I wonder how many business plans included a contingency for a worldwide pandemic?! Not many. I know we never saw any.
In the early days the pandemic temporarily shuttered businesses and closed borders worldwide. There were very few business owners prepared for that level of business interruption and change.
You have two choices when overwhelmed. Give in and avoid dealing with the situation (not a good choice) or dive in and figure out what information needs to be acquired, what support needs to be found, and what action needs to be taken.
Awareness that something needs to change is the first step. A great place to begin is to use my “Right Stuff” questionnaire to reflect on your skills, strengths and shortfalls.
The Uncovering the “Right Stuff” Questionnaire & Guide
Whether you have the right stuff to start, buy and/or operate a business is very subjective, you can increase your ability to respond to a crisis by embarking on a learning journey by answering the following questions.
If you take the time to answer the questions, I promise you will gain specific insights. Which will provide you with insight into your personality, your potential and what you need to work on.
At a minimum you will be more aware of your strengths and shortfalls.
The Lighthouse Self Study Learning Library
Tips & Tricks for Building Resilient Businesses and Entrepreneurs
You will find 69+ pages of actionable business ideas and strategies that will help you figure out what to do, when. This is your invitation to embrace the process of rebuilding, reorganizing our restructuring your business in a way that is enjoyable, exciting and playful.
Stop, Look & Listen Links
Step 0: Self Reflection Questions
Below you will find a link to “Uncovering the Right Stuff Questionnaire” which is an excerpt from my 384 page Business Planning book (Amazon Kindle purchase link).
It’s 30 questions/answers that will help you get to know yourself and give you some hints of areas you can choose to work on as an entrepreneur. Click the link below to access it.
Step 1: Perspective
The answer to confusion and overwhelm is always to seek clarity. To get clarity you will need perspective.
How To Gain a Fresh PerspectiveStep 2: Your Learning Curve
You cannot spend your way way out of a learning problem, you have to learn your way out.
How To Learn Your Way Out Of Business ProblemsHow Rethink (Reflect & Ponder) Your Business (8 Resources)How To Reinvent Your Business (19 Resources)
Building Resilience Links
Step 3
Feel free to browse the links below and jump ahead to the section where you feel drawn or need to do work.
About Business Coaching
Check out these links about business coaching:Rationale, Logic & Advantage of Having a Business Coach
Business Coaching Services
NOTE: at the bottom of some this page and a few others, you’ll find a “Ask Me Anything” form. It is an open invitation to reach out, ask a question and I’ll do my best to answer your query in a timely manner.