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Ever have unexplained evens happen that seem to come out of the blue…almost as if there’s something going on that you just can’t put your finger on?
In this episode I talk about possible reasons for those unexplained events and possible solutions.
The events include:
- Personality Type: You’ve experienced success based on your strong points and now are running into personal limits.
- One solution is working with personality assessments to get a clear read and strengths and weaknesses and then deciding how best to move forward.
- Lack of a Business Plan: Again, you can start with strengths.
- But, there may be more aspects of the business that now need addressed, or;
- You’ve worked non-verbally and there is a need to be a bit more formal, or;
- Working on the Business Plan is important for activities such as getting a line of credit;
- It’s all about creating an ecosystem within which your business will thrive;
- This includes allowing time for overhead activities, e.g., Human Resources.
- Too strong of an emphasis on tactical- or transactional behavior
- It’s about getting into habits doing same-old, same-old because the work is flowing in which can lead to stunted growth.
Looking at all 3 issues together, if they are left unaddressed competition can sweep in and take market share rapidly leaving you in a reactive situation rather than proactive.
On top of these 3 issues there is another one, risk management, which is critical to your business surviving in as stable a manner as possible. This is especially important when experiencing success. Success can lull one to having both a near-sightedness and tunnel vision…a sure setup for failure.
Some signs you are “haunted” include:
- Spontaneous, excessive overtime
- Short-tempered
- Frustration with those around you
These are signs there’s something you don’t want to look at and your business is at risk for suffering accordingly.
Overall, the solution is connecting with someone who understands you and how you are walking through life and can help you become aware and change accordingly. Also, work on process and network, network, network.
It may be time to alter your business plan and/or relationships.
To anchor all this in something you can do, the Expected Monetary Value model (EMV) is presented as a way to see how good or bad things can get as well as what to expect based on your current understanding of your situation. With the EMV model 4 components are calculated:
- a baseline – what occurs if there are no threats or opportunities
- an expected value – baseline +/- any opportunities or threats at some probability of occurrence
- a best case – baseline plus all the opportunities going to 100%
- a worst case – baseline minus all the threats at 100%
For more on this contact me at gary.monti@ctrchg.com.
This show was brought to you by our two sponsors:
- My free e-book MINDSET – 5 SIMPLE WAYS TO LOOK AT COMPLEX PROBLEMS and learn how to find a simple vantage point from which you can resolve challenges.
- “8 Steps From Chaos To Clarity and Calm: CEO Advanced Training” a course for business owners dealing with unforeseen problems that have surfaced as a result of success. For more information go to https://www.ctrchg.com/ceo-advanced-training/
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