What is the most exciting trend in your market today?

Day in and day out things can often seem the same. As entrepreneurs we can get into the habit of keeping our head down and focusing on the numerous tasks and requests being made of us without looking up to see what’s going on in our market. Our businesses can often feel stagnant or uninteresting depending on the day of the month or the circumstances we are fighting against. The antidote for getting unstuck is to find inspiration. This can happen when we meet with other individuals or when we learn about what other companies or businesses are doing to keep themselves relevant and competitive.

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Sir Richard Branson captures another dream through Virgin Galactic.

Many entrepreneurs (myself included) are reminded today that we are only limited by our imaginations when it comes to realizing our dreams. Day after day we can get caught up in the details, issues and tasks that can take our minds away from pursuing our dreams. As Sir Richard Branson captures another dream through Virgin Galactic, what does this make you think about for you and your business? Do you have dreams you are pursuing?

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There is always a new normal after a downturn. Watch the box office.

It can be tough to keep your head on straight when life seems to be crumbling down around you. The financial crash of 2018/2019 was a tough time for many entrepreneurs. COVID has been very difficult for many entrepreneurs. Notwithstanding the difficult moments an entrepreneur might find themselves in, a new normal always sets in after a downturn. Sometimes the new normal means more change that many can’t keep up with and sometimes the new normal sets the stage for new success. As you look around the market and evaluate your new normal, what does it look like and how will your business continue to benefit from the changes that have occurred?

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No more lines of credit says Wells Fargo. Expect the unexpected.

Nothing is guaranteed in life. Being responsible for an active business that is relied upon by customers, vendors and employees alike means being ready for anything. If you can learn to expect the unexpected you will always be in a position of directing your own outcomes. Many entrepreneurs can be caught off guard when circumstances change and end up taking a defensive position which doesn’t always help them deal productively with the outcomes. Entrepreneurs should always be ready.

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What if entrepreneurs didn’t have to fail?

Pretty presumptuous right? Everyone knows that entrepreneurs have a high failure rate and are expected to fail because that’s what makes a small group of entrepreneurs successful – learning from failure and continuing down the path of creating profit by providing solutions to problems that exist in the market. But what if entrepreneurs didn’t have to fail? Or what if a fewer amount failed? Crazy idea? It may not be as crazy as you think. Failure is based on not having the right answers to the right questions. Finding the right questions to ask is harder than finding the right answers. So what if entrepreneurs knew what questions to ask that would guarantee their success?

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Bag of gold

I believe we all have a bag of gold. Some people have one piece of gold in their bag while others may have 2 or more. Gold represents the value or currency of our talents and abilities. Each day we get the opportunity to trade our gold out in the marketplace in exchange for more. Trading involves expending effort according to our talents and abilities on activities that produce a result. The more we trade the more opportunity we have to earn a return. The less we trade the lighter our bag of gold becomes.

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Failure happens

Failure happens

I don’t like to fail. I use to think that failure was weakness and something that I needed to try harder to be better at, stronger at. I have come to understand that failure is a feedback loop and doesn’t reflect weakness if I am able to get on my feet and keep going. Perseverance produces character and character produces hope. Failing isn’t the end result of your or my actions, but is part of the work being done to help us understand what it will take to achieve what we have set out to do.

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Winning happens

When I catch a break, it tends to catch me off guard. Running a business is like running a marathon…uphill! I exert so much effort every day that when I catch a break I try to take a moment to take it in. The grind of tasks, issues and challenges can feel normal over time and any entrepreneur that has been around awhile knows the grit required to keep pushing every day. When a win comes along not only is it a welcomed reprieve from the grind, it is an opportunity to evaluate what is working.

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Honesty happens

It’s tough sometimes to come to terms with reality. Even as an entrepreneur it can be difficult to hold out hope for the future when your current circumstances suggest there should be no hope. When I feel like I want to put on a brave face I have learned that being honest and dealing with reality is often the best course of action. In fact, when I call someone I trust and share with them the challenges I am having I find reprieve from the anxiety that builds up when I chose not to say anything to anyone.

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Change happens

Wouldn’t it be great if the best decisions you made were able to provide a lasting difference? Wouldn’t it be great if things stayed the same in your business? I have thought about this often and have decided that change is good. The challenges I was able to overcome through innovation and pressure have contributed to the success I now enjoy. Without change there is no opportunity for circumstances to improve. Change doesn’t always have a positive outcome but I believe that change can arc in the direction of positive outcomes over time.

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