Avoid the Biggest Reason For Business Failure

It’s Strictly Business…

Business success or failure is seldom a product of what a business does. We all have great ideas and usually know what needs doing. Or, if we don’t, we can find out easily enough. It’s more a result of how it is done… So, How do we do things right? We’re often told we need to maintain focus and keep it “Strictly business…” which, when you think about it, is a bit of a weird expression.

It’s typically used when someone is attempting to depersonalise a business decision. But business decisions usually affect people so they’re always personal to someone, right?

So, after doing some serious research, we got to the nub of what the “strictly business” statement really means. In this article, we’ll expose the true meaning and really get behind what it means for us as individual businesses. You’ll hear thought-provoking ideas and actionable tips to take away and implement into your business so that you can thrive, not just survive.

There are many reasons why businesses fail and you’ll learn the biggest reason later on in this article. Though, one of the most fatal decisions a business owner could make is to have no strategic or tactical planning.

What are strategy and tactics in business?

Strategy is about effectively doing the right things.
Tactics are about efficiently doing things right.
Strategy And Tactics Explained

This chart shows how your business would be doing if you were leveraging strategy and tactics efficiently, effectively, or not. Seems common sense, but you want to aim for the “THRIVE” box

Strategy And Tactics Live In The Thrive Box

Strategy and tactics are equally important. Thus, you must work hard to implement both. Otherwise, your business will be either surviving or dying. Strategy comes first, so you can figure out what actions you’re doing to take, then tactics come second, so you can act brilliantly and reach your goals.

The most common reason why businesses fail is FTI (Failure to Implement).
Challenge:

What good ideas have you had that you’ve failed to implement or that have failed through implementation? Note: Failing is essential! Don’t be ashamed of your failure. Use it as fuel for self-reflection, learning, and growth.

What does “strictly business” mean?

If we think of it in terms of the TV show, Strictly Come Dancing. And consider business as one of the many dance styles they feature. The steps of most businesses would go something like this:

Stop – start – stop – stop – start…

When your business starts and stops repeatedly, you fail to gain momentum which is needed for successful product development, launching effective marketing campaigns, and every other aspect and process of a business.

The dance steps of SUCCESSFUL businesses go something like this:

Slow – slow – quick – quick – slow…

Business isn’t about everything going right all the time. You’re going to face challenges, have obstacles to hurdle over, and encounter problems that will slow you down, but never let them stop you. Progress is progress and small progress is still progress!

Let’s end with a final challenge. Reflect on this prompt and record your thoughts.

Challenge:

Finish this sentence:

“________________, done consistently, will transform my business.”

Conclusion:

Now that you know the main reason businesses fail and the two most important areas to focus on to avoid failure, you can press on and keep practicing the dance steps of success with consistency and confidence. Remember, encountering failure along your journey is inevitable and nothing to be fearful of. Keep in mind your strengths and what will transform your business if done consistently.

We’re not strictly business here… we’re dancing and thriving!

Has this article got you thinking about your business and how you want to grab the reins and drive it forward but you struggle to find the time or feel that you lack the skills or knowledge to do so?

Are you looking at your screen wondering how or if Good2Great could possibly help you to build a better future for you and your company?

If so, why not check out free ways to learn more either in the fun but growth focussed ‘Friday Hub Zoom Room‘ or let’s meet and chat about your business – it’s our passion after all! Just click this link, it will show you availability in my calendar – just grab a slot that suits you and it will automatically set up and schedule a Zoom meeting and send all the necessary invitations to calendars and email… https://bit.ly/meetingwithjohnny

OR – perhaps you’re still at the start of your business journey – check out Business Start Up Masterclasses

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