Will your New Year’s Resolution for your business Stick or Fail?

A better solution than a Resolution

  

This is the time of year when most of us start thinking about our new years resolution for our businesses.

Whether it is starting a new business or improving the processes of the current businesses, resolutions play a key part for many of us.

Resolutions are elusive and dangerous especially for a business. Why?

  Think back to the times when you or someone you knew made a new year’s resolution and did not stick to it. Think about how it made you or them feel.

We have to go no further than our local health facility to see what takes place every January. The gyms are filled with people that have every intention of getting fit. By the time March of the same year arrives the gym is back to the normal levels of dedicated members with only a few additional committed people. Statics show on average, 26% of the New Year’s resolutions are achieved. That means there is a 74% failure rate. That’s not encouraging at all.

  To me it seems like a New Year’s resolution is like a wish instead of a catalyst to kick start something great for the New Year. 

Resolution: (from resolve)

1. A formal expression of opinion or intention made, usually after voting, by a formal organization, a   legislature, a club, or other group. Compare concurrent resolution, joint resolution.

2. A resolve or determination: to make a firm resolution to do something.

3. The act of resolving or determining upon an action or course of action, method, procedure, etc.

4. The mental state or quality of being resolved or resolute; firmness of purpose.

Resolve:

to come to a definite or earnest decision about; determine (to do something): I have resolved that I shall live to the full.

  Based on the definition, a resolution can be looked at as a “made up mind” if you will. The challenge with this is a made up mind does not lead to action.    How many times have we decided to quit smoking, exercise more or get our finances in order (to name a few), only to succumb to the same comfortable routine that lead us to have the "made up mind" in the first place?

To me resolutions can be a trap.  

Why do I feel that resolutions are traps?

• They are normally made “in the moment” without a plan
• A future date is set thus creating pressure and stress with anticipation of the start date.
• Allows for time and excuses not to follow through or even start the stated New Years resolution.

If New Year’s resolutions are traps what is a better solution?

A better solution is to set goals before the New Year starts.

Goals:

The result or achievement toward which effort is directed; aim; end.

 Synonyms
1. target; purpose, object, objective, intent, intention. 2. finish.

What are some of the advantages to setting goals vs. making a New Year’s resolution? 

• Gives us direction and something to aim towards?
• Allows for focus
• Offers guidelines
• Promotes action

  How should we set goals for the New Year?

Get started immediately. Devise a plan to promote action thus creating momentum heading into the New Year.

  Where should we start? I was always taught there has to be a reason why we do anything. If there is no reason why, nothing gets done. Without a reason why, it is easy to quit when faced with roadblocks setbacks and obstacles. Establish a WHY.

If a business is established, revisit the reason why. If applicable add additional reasons why. Go over goals, milestones and accomplishments from the previous months. Look for opportunities for improvements and implement those into the New Years goal.

Share your goals with a trusted and supportive friend or family member, this will promote accountability.

Do some research!

Find the most successful individuals in your field and study them. Read as much information on them as you can. Subscribe to their newsletters, link to their blogs and if possible get on their email list. Why?

We assimilate those in which we most associate. To put it simple, If they are the most successful people in their industry and we do what they did we will have what they have. The most important is don’t give up and don’t quit.  Should we be so brave to follow these steps and dare to follow our dreams we will find that our New Year will be rewarding and fulfilled. Happy New Year and please share your goals for the New Year.

Are your past experiences keeping you from your present successes?

Don’t let fear be your bridge to defeat.

I have read in many books and heard many mentors quote “ You cannot drive your car successfully looking in your rear view mirror“  The Analogy speaks to focusing on the past and how it can keep us from working in the present. There can be no progress in the present if the focus and the angst is in the past. Likewise, there can be no success in the present worrying about what will happen in the future.

Past -  adjective

1.gone by or elapsed in time: It was a bad time, but it's all past now.

2.of, having existed in, or having occurred during a time previous to the present; 

bygone: the past glories of the Incas

3.gone by just before the present time; just passed: during the past year.

Present –  adjective

1.being, existing, or occurring at this time or now; current: the present ruler.

2.at this time; at hand; immediate: articles for present use.

Future- noun.

1.time that is to be or come hereafter.

2.something that will exist or happen in time to come: The future is rooted in the past.

3.a condition, especially of success or failure, to come: Some people believe a gypsy can tell you your future.

 In order for success to take place, attention and focus must be placed on the present because the present is the only time period action takes place. Action creates results and results are how businesses are judged.

Many business owners are stuck on past failures and missed opportunities. Such reflecting is like building a bridge of fear from the past to the future, totally disregarding the present. When the present is not addressed in a proper manner, a cycle is perpetuated thus creating or allowing negative circumstances to overtake the business.

An acronym for fear is false evidence appearing real. Fear is relative to the individual experiencing it. Dwelling in the past feeds the fear and forces us to hope for a better out come in the future without realizing that the power to have a better tomorrow lies in the preparation and activity carried out NOW.

Some ways to stay in the NOW with our business are:

• Set daily goals in the morning and review the progress at the end of the business day.
• Set weekly goals at the beginning of the week and review the progress at the end of the week.
• Set monthly goals and review them at the end of the month.
• Stay present and aware with every activity possible while conducting business.
• Develop a mastermind team consisting of individuals strong in areas of business that we are weak. Meet at least once a week with the mastermind group. 

Consistently performing the above task will keep us present, focused and less likely to continue building that bridge of fear over our present situation.

Our businesses and the present moment are a gift, shouldn't we enjoy every moment of them both?

What’s keeping you from having the customers and clients you want.

How who you are attracts what you get.

I am sure you have heard that statement you attract who you are and not who you want.

Attract: to draw by physical force causing or tending to cause to approach, adhere, or unite; pull (opposed to repel ): The gravitational force of the earth attracts smaller bodies to it.

This is true in your business as well.  What do I mean? The type of customer you are is the type of customer you will attract. The type of client you are is the type of client you will attract.

Below are some examples to help demonstrate.

• If you are a customer that wants to pay rock bottom prices and get exceptional service then those are the clients you will attract.
• If you are the type of customer that has loyalty to the cheapest price and not the quality of service then that is the type of customer you will attract.  
• If you are the type of customer that does not refer business to the establishment that you frequent that will be the customer you attract.

It is a universal law that you are who you attract. It does not matter that you don’t believe it.  It does not matter that you have never heard of the law of attraction.

 It doesn’t matter if you believe in gravity but if you step off a 3 story building, gravity will take effect.  

The law of attraction is consistently talked about in the personal development arena and there have been many books published for business and entrepreneurs. I felt a need to parallel the business owner and the customer also the business owner and the client.

Without getting too deep, the basic principle is that your actions and conduct are a direct correlation to what you attract. If you are a bad customer or client then you will attract bad customers or clients.

As business owners we must not forget that we are customers and clients. Businesses that offer products and services also need products and services thus making them customers and clients.

  

With that in mind we need to treat the businesses we patronize the same as we want our businesses to be treated.  It is the golden rule. Do unto businesses as you would have your customers and clients do unto your business.  

Some other things to think about are:

• If you are late for or miss appointments, then your clients and potential clients will be late for and miss your appointments.
• If you do not return phone calls then your clients and potential clients will not return your phone calls.
• If you are a client that does not offer references and valuable feedback then you will have clients that do not offer references and valuable feedback.

Your customers and clients will mirror your actions as a customer and client.

The object is not to convince anyone that this law is real and it works. There is more than enough proof from real business owners that the law of attraction is very powerful. The purpose of this blog is to offer struggling business owners something to think about in hopes that it will resonate and kick start their company. If you don’t believe the law of attraction affects your business than chances are that your business will continue to not produce your desired results.

You want to be the customer and client that you want to attract. So the question is… are you?

What goes on in your head goes on in your business.

How your beliefs may be holding your business hostage.

Believe it or not Belief holds a huge roll in your business.

If we believe we will be successful we will. If we believe we will fail, we will.

The second part is the work still must be done.

Nothing gets done by its self.  All plans require action if there is any hope of having success. But the focus for this blog is on the belief.

Believe -   to have confidence in the truth, the existence, or the reliability of  

something, although without absolute proof that one is righting doing so: Only if one believes in something can one act purposefully.

So how does belief affect a business?

Belief may affect the way things are perceived. That perception can lead to negative thoughts or actions. Having a negative outlook towards your clients and competition because there is a belief that business is not going well will reflect back on the individual like a boomerang.

If a business owner believes their business will do well, than there is no need to have a negative outlook on the client/customer nor the competition.

Please understand If it sounds like I am making it way too simple, that’s because it is.

I believe that it is simple and I believe that running my business is simple.

The purpose of this blog is not to convince you that if you believe your business is hard that you are incorrect. The purpose is to inform you that the reason your business may seem difficult is because you believe it to be.

Whatever you believe, you are correct . No one could or should tell you differently. What are some of the keys to shifting a mindset from what we have to what we wants .

• Pay attention to what you think and dwell on it before you say it.
• Evaluate the company you keep inside and outside of you company
• Show gratitude every single day regardless of how things appear to be going.

What we think comes out in the form of words and then manifest in the physical,

 “business is slow” and “I keep forgetting my clients’ phone numbers and names”. “ I am in the wrong business”

 A good goal to remember is to think before one word is spoken.

Speak what you want and not what you have.

Evaluate the company you keep inside and outside of you company.

Are some of your employees, partners, investor’s and friends  negative.

 If so then remember what you surround yourself with will eventually manifest in the physical. Negative surroundings can result in a negative balance sheets.

Show Gratitude - This is the week of Thanksgiving. (happy Thanksgiving)

we all know the feeling when someone is truly thankful for the service we provided them, it makes us want to do a better job next time doesn't  it?

There are no such thing as isolated incidents.  The more gratitude that is shown and expressed for what we already possess, the more things there will exist to be thankful for.

The principles discussed are not new. They are just as common in the religious doctrines as they are in self help books. There proven and yes there are methods to practice and master. The bottom line is it all starts with what you believe.  Nothing else changes until that happens. If you believe what is written today is true and apply it or have applied it then the info in the blog is correct.

If you don’t believe the information presented is correct then, you are correct.

It is not a matter of right or wrong. It is a matter of are we satisfied with the results our belief has manifested.

Remember ,you attract who you are not who you want. 

You are what you think

Changing your thoughts will change your actions. 

Changing your actions will change your out come

Changing your out come will change your life

Changing your life will attract who you want.

If this seems like a lot keep reading until you change your mind.

Building your business through the Holiday Season

How building your business during the Holidays could pay off creating    momentum for your business in 2013.

It is that time of the year, Thanksgiving is around the corner and Christmas soon follows.

People are taking vacation and visiting family. Everyone seems to be getting into the Holiday spirit.

Majority of the people are in a giving spirit during this time of the year.

Even the normally "grumpy" people are generally in a better mood and more likely to hold a conversation.

The holidays seem to do something for and to people. That “something” is what the successful businesses are counting on. This holiday is not just for the retail business. It is for ALL businesses.

Below are some reasons the holiday season is good for all businesses.

• People /Clients & Customers are easier to reach
• People/Clients &Customers are nicer and more willing to listen
• Your competition is on vacation as well.

Momentum is what a business should have going into the New Year and a method to ensure momentum is created is getting to work during the months of  November and December.

 The momentum will carry forward into the next year and that momentum will be needed to get past the January hangover. If the momentum is built correctly,  it can be used to have a business explosion(in a good way).

Most of your competition will be on vacation because everyone they know are on vacation(sort of like lazy business per pressure).

Should you decide to work while your competition is on vacation you will have at least a 3 month head start (or will be able to gain ground on your competition).

One key to building your business during the months of November and December is to schedule a meeting from a meeting. What do I mean by this?

Use the months of November to schedule appointments with potential clients, build relationships and follow up in December then schedule follow up meetings for January. (Of course this depends on your business model). The individuals that you contact who are not interested in your business or the service you provide, may remember your service and call you or refer your business.  

What could be a better way to end your 2012 business year than with 2013 momentum?

Taxes and Holiday Gift Giving

Better to give (gift) and receive (a tax break)

 There are an increasing number of small business owners increasing their donations. And that is a good idea because we have all heard that it is better to give then to receive: You have you heard this, haven't you?
The tax law supports and emphasizes this point. However there are guidelines (limitations).
Below are the top 8 tips for deducting charitable contributions from the www.irs.gov website.
Charitable contributions made to qualified organizations may help lower your tax bill. The IRS has put together the following eight tips to help ensure your contributions pay off on your tax return.
   1. If your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Also, you cannot deduct contributions made to specific individuals, political organizations and candidates. See IRS Publication 526, Charitable Contributions, for rules on what constitutes a qualified organization.

     2. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.

     3. If you receive a benefit because of your contribution such as merchandise, tickets to a ball game or other goods and services, then you can deduct only the amount that exceeds the fair market value of the benefit received.

     4. Donations of stock or other non-cash property are usually valued at the fair market value of the property. Clothing and household items must generally be in good used condition or better to be deductible. Special rules apply to vehicle donations.

     5. Fair market value is generally the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts.

     6. Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution. For text message donations, a telephone bill will meet the record-keeping requirement if it shows the name of the receiving organization, the date of the contribution, and the amount given.

     7. To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return.

     8. Taxpayers donating an item or a group of similar items valued at more than $5,000 must also complete Section B of Form 8283, which generally requires an appraisal by a qualified appraiser.
As always documentation beats conversation any day. And below are some tips that come from Sandy Botkin’s Blog from taxbot.com
* Always donate either property or a check. No longer will cash deposited in a salvation army pot or in the church box be deductible.
* if the donation of any type is at least $250, you will need to get an acknowledgement by the charity of the donation. This can be one with a letter or with a receipt.
* If the donation is for $5,000 or more of property, you will need to get and attach to your tax return a copy of a qualified appraisal.
Doing this correctly and using taxbot (or other deduction tracking system) to keep track of these donations can make your gifts much sweeter by garnering you a nice, whopping tax deductions.
Big tip: Consider making gifts using your credit card such as to a church or synagogue or mosque. You would get the deduction this year even though you make the payment on the card next year.