Connect with us

Success Advice

The Top 10 Fears That Hold Us Back From Success

Joel Brown (Founder of Addicted2Success.com)

Published

on

Have-No-Fear-of-Failure No Holding Back

Here is a list of “The Top 10 Fears That Hold Us Back From Success“. This list goes into detail about each element of fear and why it holds us back. I’m a true believer of “When I know why, Then I’ll know how!”, so by pin pointing the exact reason why you are scared to progress forward in your plan you are then able to work on beating that element of fear and succeed in what you truly want to accomplish.

“If we doubted our Fears instead of doubting our dreams, Imagine how much in life we’d accomplish”. – Joel Brown

 

Fears That Hold Us Back

 

10. Losing your freedom

Akon Losing your Freedom

While the exact definition of freedom and its value in a society are debatable subjects, the fear of losing your freedom has always been present in human minds because, even though it is not something that we think about every single moment, it has given us times of deep thought and wonder of what would happen if we were to lose the power to control our own lives. This fear starts with mundane things such as that time you were grounded in your room by yourself without the possibility of leaving until you finished your homework or our fear of the commitment that marriage establishes. But this raises a question, is absolute freedom the best thing for us? We have all seen people make bad decisions over and over again and wondered whether having someone else make their decisions for them would make things better.

 

9. The Unknown

Shutterstock 85358818

The fear of the unknown is easily explained like this: the mind tells us that in order to move forward we must know what is waiting for us there, because “if I know, then I can control the situation, and if I don’t know, then I am not in control”. This second part is what scares us the most because control is what establishes a measurement that we can use to manipulate the result of our actions. And when we don’t like what is different, this is simply because we can neither understand it nor have a plan to control it beforehand.

This fear has been with us for thousands of years, and it is a great part of what has helped us survive as a species. Many of us, when we were kids, were afraid of the dark, mainly because we didn’t know what might be hiding in there, and similarly when we didn’t know what might be at the end of the hallway we felt the need to pull ourselves away from it. However, this fear of the unknown often stops our progress and makes it harder for us to discover and understand new things, encouraging rejection and closed mindedness.

 

8. Pain

Shutterstock 14658901

Since the intensity of physical pain is a purely subjective feeling which is sensed differently by each individual, it is quite hard to make generalizations of what causes people pain. But physical pain can be described as an unpleasant sensation generally caused by damage to a certain part of the body.

Aside from a few exceptions, most of us are intolerant or afraid of physical pain, this can be noted in the fact that there are a great amount of medications related to pain relief, with different levels of strength and related to different types of pain. The rejection of pain is caused because we associate physical pain with illness and bad health in general. This fear can be linked with the fear of losing your freedom, such as in the case of people that suffer from chronic pain and usually see their physical freedom limited because they want to avoid doing the actions that cause or increase the pain sensation. Let’s face it, pain is not a good sensation (although, as stated before, some people believe otherwise), and like animals do, we tend to keep away from that which causes us pain, as it is one of the key elements in survival instinct as well as the way our brain tells us that there is something wrong with a certain part of our body or that the action we are doing is causing a negative effect on it. In this case pain in itself is not a bad thing, but a way to let us know that we must stop doing what we are doing to avoid further damage to our body.

 

7. Disappointment

Shutterstock 80527171

This fear is somewhat hard to explain, since there are two different fears that are related to disappointment – one of disappointing others and one of suffering disappointment yourself.

We all as kids lived that awful experience in which we did something wrong or misbehaved and were expecting a punishment or at least some screaming from our parents, but instead got the unpleasant sight of our parents just staring at us with sadness in their eyes and saying “I am disappointed in you”, and how that single sentence hurt a lot more than any other punishment would have.

The fear of disappointment is part of the reason we avoid the unknown, disappointment is that feeling of dissatisfaction when our expectations do not match what actually happened. It is obvious that we make our best effort to avoid that, and like pain disappointment is a negative feeling that sometimes is followed by regret, in which a person wonders if their choices contributed to the outcome. “If I had done things differently, would it have made a difference?”

 

6. Misery

Shutterstock 84706987

Poverty is defined as a situation that comes from the lack of the resources needed to completely fulfill the human needs. But misery is what we see as a more extreme case of poverty. It is the inability to cover our own basic personal needs. No one likes seeing or feeling human misery, because we know that the worst of human actions come out of the desperation caused by misery. It is what we consider as the lowest point in what comes to human needs and that is why we fear it so much. No one wants to feel that absence of things, and this has caused the media to feed us more of this fear in advertising, telling us that we need more things than those we actually do. And even though we all know how bad a habit this actually is, at the end of the day we can all acknowledge how hard not having basic goods to back you up is. Like it was expressed in the 2006 movie “The Last King of Scotland”, when Dr. Nicholas Garrigan tells Ugandan dictator Idi Amin that “money is no substitute for anything” he replies saying “[you say it because] you have never been poor”.

 

5. Loneliness

Shutterstock 63455026

The fear of being alone is that dreadful feeling of emptiness caused by the absence of interaction with another human being. This fear has also evolved from one of our early survival instincts: we fear loneliness because it is more probable for us to survive if we live in group.

The fear of loneliness is related to doing something and no one noticing, we often feel that in order for our actions to be meaningful, someone has to notice them. This relates to the philosophy quote “If a tree falls in a forest and no one is around to hear it, does it make a sound?”. If you make a groundbreaking discovery but no one else ever finds about it, does it still count?

 

4. Ridicule

Shutterstock 83726128

The fear of ridicule is related to the fear of getting bad criticism and is also caused by our social fear of not projecting a good enough image of ourselves to the others. This fear is most often experienced in what is called “stage fright”. We all have felt it at least once in our lives having to speak or perform in front of an audience. We fear that we might mess up and cause the audience to respond negatively, either by mocking us with laughter or, in the worst cases, booing. Even though some people practice hard enough to not feel stage fright or have a well built self-confidence that helps deal with the effects of being laughed at or criticized, the fear of ridicule never really leaves us because we don’t like the feeling of being in the spotlight for a negative reason and being at the mercy of the opinions of others.

 

3. Rejection

Shutterstock 85056946

This social fear is one of the main reasons people act the way they do, we tend to (sometimes blindly) follow the others actions because it helps us avoid dealing with rejection from the society. We fear rejection because, like the fear of being alone, most of us can only justify our existence through the acknowledgement and acceptance of others. There are people who argue that acceptance from the society is a mere illusion and that there is no such thing as “normal” behavior from an individual within a society – if this is the case, then why do we fear not behaving “correctly” and in accordance with the cultural norms? This really puts into perspective our whole ethical infrastructure as a society; is something really good or bad just because society says so?

 

2. Death

Shutterstock 2373725

This fear is not no. 1 because even though it is the main reason our instincts tell us to act the way we do, it is a well known truth that we all in the end will kick the bucket, but that doesn’t mean we have death as our worst everyday worry because we avoid the thought of it as a near future occurrence in our lives.

The fear of death is tightly tied to the fear of the unknown; we don’t know for sure what will happen to us when we leave this world. In fact, we are so interested in death that we have even developed whole cultures and religious beliefs that have tried to give an explanation to death since the beginning of time, with almost all ancient civilizations having a godly form or worshiping death in some way, we’ve all learned to respect it and eventually accept it.

 

1. Failure

Shutterstock 22811797

This fear deserves the top spot because it rules over all our actions and decisions, we all do and don’t do things in order to avoid failure. Failure can be a lot of things; realizing you don’t live your life the way you wanted to, not succeeding in your plans, finding yourself helpless, or in the worst cases even hitting rock-bottom.

Failure is a very ambiguous and subjective term because failure is not on the same level and perspective to everyone, what counts as failure to one might not be even halfway there to another. To some, failure is actually a way to learn lessons and try again, so it is not really an end, but a tool for future reference. The main fear of failing comes with the disappointment that follows, that feeling that despite your effort, nothing seemed to go as you wished it did, and it causes a feeling like you might not even want to try again. That is why this is the worst fear of all, the fear or failure is very often used as an excuse to procrastinate or not do anything to make situations better – “why bother?” and “I’m just not good enough”.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

Advertisement
6 Comments

6 Comments

  1. Dawn West

    Aug 21, 2013 at 2:17 am

    Joel, Thanks for the article. I’m researching my own fears that have been keeping me from reaching my goals. I appreciate your input. Thanks,
    Dawn

  2. waleed

    Jun 23, 2013 at 2:03 pm

    thanks for this

  3. kumar

    Jun 5, 2012 at 3:39 pm

    Very True, I f you believe in God you can overcome all the fears

  4. Lawson Condell

    May 10, 2012 at 1:47 pm

    As a Christian, I see all 10 of the reasons the devil uses to keep people submissive.

    God is love, courage and faith. Be brave and fight.

    Great article. Thanks.

  5. James Ramsay

    Mar 8, 2012 at 4:01 pm

    Deveka – you raise a big question – but at the heart of it your awareness that its about ‘Trust’ shows that this is important to you and is a sign of good ethics and someone that values constructive and healthy relationships

    It takes a big person to repair trust – often its lost following a misunderstanding – we werent explicit on what we needed or the other person didnt make clear their limits

    When you sense trust issues you’ve got to explore the gap in misunderstanding and someone has to be the healer and take the lead on restating our boundaries and expectations

    Real easy to say – very hard to do

    Thanks for sharing

    James
    @jameslramsay

  6. Deveka

    Oct 8, 2011 at 9:57 am

    The biggest fear is disappointment and lost of trust due to misunderstandings. How can one correct everything and gain that trust again that others once had in oneself?

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

How to Overcome Stage Fright in 5 Simple Steps

Published

on

overcoming stage fright
Image Credit: Unsplash

Fear of public speaking, also known as glossophobia (which literally means fear of the tongue) is the apprehension that one experiences when speaking in public. It’s reported that 1 in every 4 individuals reports some sort of anxiety when presenting ideas in front of an audience. Regardless of one’s personal or professional background, being able to communicate ideas confidently and eloquently is of utmost importance. So, how can you overcome stage fright?

Here are 5 simple steps to help you overcome the fear of speaking publicly or in a group:

1. Success Visualization

A great deal of the fear we experience stems from the negative self-talk that goes on in our minds. Thoughts such as “I don’t think I can do it; I’m going to forget my notes; what makes me think people want to listen to me?” The first step in trying to counter the negative self-talk is through what I call Success Visualization. It’s a well-known scientifically-proven fact that the best way to counter negative mental chatters is with positivity.

Find a quiet place where you can be undisturbed for at least 15 minutes, create a mental image of the speech being a complete success. See the audience cheering and learning. See the equipment working properly. See yourself sharing your ideas with confidence. After all, no one goes to a speech to see a speaker embarrass themselves. Visualize what you want (success), not what you dread.

2. Purposeful Practice

How many times have you heard this well-intentioned advice: “Practice makes perfect”? You might wonder, “I’ve practiced over and over again, why am I not improving?” We’ve been told to practice, but no one ever told us how. In his bestselling book Peak, Anders Ericsson introduces the concept of purposeful practice that he defines as a focused process toward a well-defined and specific goal.

What we’re all engaged in is called naive practice, which is repeating a particular task and expecting to get better. That kind of practice as it relates to public speaking is highly ineffective. There is a myriad of skills that need to be mastered in order to become an effective public speaker. As such, purposeful practice is the right way to go since it allows you to focus on one skill at a time with timely feedback on what is and what isn’t working. Always practice with a goal in mind!

3. Energy Reversal

Science claims that we experience the same physiological changes whether excited or stressed. Our adrenal glands release epinephrine, norepinephrine, and cortisol which are the flight or fight chemicals. From a physiological perspective, being ready to fight, or afraid, ready to run away, are two sides of the same coin. Henceforth, we can channel that same energy resulting from stage fright to psyche ourselves up for the speech.

Positive affirmations such as “I am excited! I rock”, can help trick your subconscious mind into believing that you’re excited. Our subconscious mind is impersonal. It doesn’t discriminate or rationalize, it accepts as true and brings to us whatever we suggest. Positive powerful autosuggestions sink deep into our subconscious mind, and manifest themselves in the way you feel, think, and act. Never tell yourself not to be afraid! Well, I mean always tell yourself you are excited and ready to rock.

4. Action

No great results are to be obtained without consistent and persistent actions. Many of us attend speeches, workshops, and seminars expecting to get the desired outcomes right away. It doesn’t work that way, it never did, and it never will. The three previous steps mean nothing if you don’t have a structure that you can use to help reach your goal.

Knowledge alone won’t bring any result. Knowledge coupled with deliberate, systematic actions, will. What are you going to do? Are you going to join a local Toastmasters Club? How many times a week are you willing to practice? Do you have a support group? You reading this article is vibrant proof that you’ve had enough of stage fright. So, why not grab a pen and paper, and write your next action?

5. Know your purpose, audience, and materials

Three things must be absolutely clear in your mind before giving a speech: Your purpose, the audience, and your materials. First, on a blank sheet of paper, at the very top; make sure you have this question answered: Why am I doing this? Or in the form of a similar statement: By the end of my speech, the audience will have learned. Without a purpose to give you direction and bring value to your audience, you don’t have a speech.

Next, Who am I talking to? Before getting on stage, basic information about the audience’s age group, cultural background, and level of knowledge is essential. Those insights empower you to appropriately frame your message, so you can engage the audience and get your message across more effectively. Speaking isn’t about you, it’s all about the audience.

Finally, make sure you’ve mastered your materials. Specifically, the introduction, main ideas, and the conclusion. Part of why we are afraid results from doubts of not being fully prepared. Never get in front of an audience without having fully mastered your materials. Complete mastery of your materials will boost your self-confidence which will, in turn, reduce your public speaking apprehension.

I hope these techniques serve you well as they have me and the many others who’ve attended my workshops. Your willingness to try, fail, and improve is what makes magic happens. As you may have realized by now, all you have to do to transform your fear from a foe to a friend is to S-P-E-A-K despite your fears.

Continue Reading

Success Advice

3 Steps to Overcome Your Brain Biases and Become a Better Leader

Published

on

how to become a better leader
Image Credit: Unsplash

If I asked you what time it was, you would likely look at your watch or a clock and read the time out to me. And if I were to ask you where you were, you would likely tell me the exact place, city, or state. If I were to then ask you who you were, you would likely identify yourself by your name, demographics, and perhaps a work description. On the surface, answering these questions correctly would indicate that you were not delirious. But are these answers technically correct?

Biological research indicates that superficial orientation to time, place, or person is actually far from accurate. Rather, leaders might benefit from tending toward a non-dual awareness of the world, or at least offer themselves the opportunity to see the world this way. For time, place, and person, the biological realities differ from what we might initially think.

1. Don’t let the past dictate the future

We are not ever-present in the moment, nor should we be. In the human brain, the past, present, and future are all represented at the same time. Although we consciously organize our experiences using this segmentation of time, each of these networks can intrude upon the other. In fact, what you remember can influence what you can imagine for yourself in the future as well.

As a leader, ensure that you frequently examine your memory for positive reminders and biases, take advantage of your presence circuits by incorporating mindfulness practices into your day, and use your “possibility” circuits to imagine or simulate future scenarios. In fact, in the brain, imagination is a lot like reality.

Using all three components at all times will help you to become aware of biases and could also help you escape traps or an impasse. For instance, when a possible solution for product development is vague, thinking in terms of what you want and then reverse-engineering this process to make what you imagine could be helpful.

Walt Disney saw great success after building Disneyland in Anaheim, California, but outside interests began crowding his theme park. When he decided to build another park in Florida, Disney didn’t let the experience of California dissuade him. He expanded his vision to something greater — a city of tomorrow. He created fake companies to secretly purchase acres upon acres of land near where Interstate 4 intersected with the Florida turnpike so his company could develop the area around the theme park.

“We keep moving forward, opening new doors, and doing new things, because we’re curious and curiosity keeps leading us down new paths.” – Walt Disney

2. Think beyond your reach

We are not where we think we are. The notion of “place” has become increasingly irrelevant in a globalized world. With the increasing interconnectedness of societies, cultures, and economies, leaders need to be careful not to think of themselves too locally. When leaders are global in their thinking, they are likely to elicit more widespread cooperation from international markets.

Ask yourself, “What communities beyond my local community do I want to impact?” and “What communities am I impacting?” When you take this approach, it can help your advertising strategies, for example, become more congruous with specific or global markets. Also, leaders who think globally will be more aware of competition from afar and opportunities for collaboration, too.

Jack Ma can be credited with being a global thinker for founding Alibaba, allowing Chinese consumers to access domestic and international markets that they could not previously access. By moving into e-commerce, online banking, and cloud computing, Alibaba has expanded into India and Southeast Asia. Alibaba’s Electronic World Trade Platform has even enabled farmers in Rwanda to sell coffee in China. This is a perfect example of thinking beyond your reach.

3. Connect the body and mind

We are not what we think we are. We are made up of 50% human and 50% bacterial cells. And water comprises 60% of our body weight. So we are basically bags of water and bacteria — with a dash of human cells thrown in for good measure.

Also, though we might think of ourselves as being separate from other people and things, many people or things you encounter in your life are stored in your brain’s memory centers. Our brain tissue contains images, voices, and other attributes of people and things, too. We are not actually as separate as we think.

Take care of your bacteria, and they will take care of you. Having the right balance of bacteria is of paramount importance to effective functioning because the wrong balance can make you depressed or anxious. Taking a probiotic can help restore this balance. Understanding that you are part human, part bacteria can change the way you take care of your moods by essentially reminding you to take care of your gut.

Mindy Grossman, the CEO of WW International — formerly Weight Watchers — is a good example of someone who understands the mind-body connection. Grossman has led the company’s focus from strictly weight loss to wellness through healthy habits. Part of the transformation includes a partnership with meditation app Headspace to help members maintain a positive mindset.

“It is health that is real wealth and not pieces of gold and silver.” – Mahatma Gandhi

When you engage in non-dual awareness by recognizing that your brain fuses and connects time, places, and people, your leadership capacities might also be enhanced. As Warren Bennis, founding chairman of the Leadership Institute at the University of Southern California, suggests, “Becoming a leader is synonymous with becoming yourself.” And your “self” is more intriguing and mysterious than you might first imagine.

Continue Reading

Success Advice

3 Ways to Optimize Your Life for Success

Published

on

how to optimize your life for success

Welcome to the 21st Century! The era of the Internet and computers, lack of focus and superficiality. I know it sounds scary, maybe a little more exaggerated, but it’s true. We live in a world of short posts and 3-minute videos. We barely engage in deep learning, deep thinking, and deep focus to produce iPhone-level products or services. So, the majority of us are actually a failure, thousands of miles away from achieving our life goals and business visions. How do we turn things around? We need to optimize our lives.

Here are 3 tried and tested tips that will help optimize your life for success:

1. Upgrade your sleep

When I started my freelance writing career—about seven years ago—I was passionate and excited at the beginning. I’d fill my To-Do list with 6-10 items, worked until 12 am, set my alarm to go off at 3 am, and had my running shoes close to my bed before I went to sleep. However, I barely accomplished anything. I usually became weak and bored before noon.

I noticed that I was putting a huge strain on myself. I was sleep deprived, which is the primary reason why I didn’t have the energy and the drive to accomplish my tasks. Many studies have shown that sleep-deprivation affects productivity.

As soon as I began increasing my sleeping time from 4 hours to 7 hours, my whole life changed. I started producing a lot and earning a lot more than before while also improving my health. With more sleep, I get the emotional energy and willpower I need to read, learn, and optimize my career.

“By helping us keep the world in perspective, sleep gives us a chance to refocus on the essence of who we are. And in that place of connection, it is easier for the fears and concerns of the world to drop away.” – Arianna Huffington

2. Read every day

I get it. You’re in the middle-class struggling to survive. You simply have enough to deal with. Reading? That’s not included on your to-do list. Well, if that’s you, then you’re not alone. The global literacy rates are at an all-time high at 84 percent, which means people don’t read as much anymore.

We already have enough on our plates. In fact, a study by the National Endowment for the Arts has found that the reading culture among American adults has drastically declined. That’s a big issue in our world.

Nothing can prevent you from reading, not even your plate that’s chock-full of other life’s priorities. If you want to produce more and impact the world around you, you’ve got to read more and learn more.

Take a look at the visionaries and business titans in our world. All of them are avid readers and avid learners. Bill Gates is a bibliophile and Phil Knight, the founder of Nike, reveres books. In fact, Knight customized his library to the extent that, before you enter into his library, you have to take off your shoes and bow.

So, what would you do next? Take Roald Dahl’s advice, captured in this beautiful line of the poem: “So please, oh please, we beg, we pray / go throw your TV set away / and in its place, you can install / a lovely bookshelf on the wall.”

3. Use Pomodoro to time yourself

You can’t go far in life if you can’t stay totally focused on a task. If you want to achieve your goals, you have got to stay laser-focused on a single task before jumping on to another. Why? Because goals are not achieved in one session, they’re achieved in a series of tasks, one after the other.

To install the focus habit in your system; therefore, you need to use a time-management kind of “system” that will keep you firm and attentive on a specific project. Pomodoro is that time-management tool that will help you stay focused.

It’s an excellent app that lets you set a timer for a particular task. You can set it for 30, 60, or 90 minutes and stop working when it goes off. I use it all the time, and I can’t imagine my work life without it.

“I know when I stay focused, good things will undoubtedly happen.” – Marc Trestman

Optimizing your life for more power, passion, and productivity is not about working hard late at night or running multiple projects at a time. It’s about maintaining your health and recharging your energy (having a deep, quality sleep), updating your knowledge (by reading every day), and staying focused on a project—until you accomplished it (by using Pomodoro technique to boost your concentration).

Of course, developing these sets of habits is not easy. You’ll fail and get frustrated, but as the productivity guru Robin Sharma beautifully puts it, “all changes are hard at first, messy at the middle, and beautiful at the end.”

Which one of these three ways to optimize your life resonated most with you and why? Share your thoughts below!

Continue Reading

Success Advice

If You Want Your Business to Grow, You Need to Increase Your Capacity in the Following 4 Areas

Published

on

business growth
Image Credit: Pixabay

Every entrepreneur must come face to face with the reality that there is only a limited amount of time, money, and people that you can use within your current position. The question is how do we increase or maximize the things that we find limiting?

As we walk through our hectic and often over packed ten, twelve, or fourteen hour work days, one of the questions that we should be asking is “What can I do to get more, to do more?” Instead, we just put our heads down and plow through the ever growing mountain of work. We are limited by capacity.

Webster’s dictionary defines capacity as “the maximum amount that something can contain.” As an entrepreneur, we have to be a little more creative than the average person and find ways to increase our capacity.

Below, we’ll identify the four areas where we need more capacity and ways to get more with less:

1. Time

Every human on this planet is granted twenty-four hours a day. That is it. Your capacity is a total of twenty-four hours. Within that amount of time you must manage several different demands. Our goal is to buy back our time, when we can, and operate at peak performance when we are accomplishing our daily task list.

First, without staying in performance shape, you will lose the ability to stay at optimal performance levels. Our bodies are truly a machine with an amazing capacity, but when it is abused by lack of sleep, improper nutrition, and lack of exercise, you are reducing the capacity at which you are able to work and function. The closer you are to peak performance, the more you are able to accomplish in a shorter amount of time.

Second is our mental condition. Here is what my experience has taught me. If I am mentally rested, I can think and make decisions faster because I can reason more quickly in addition to understanding the circumstances and information at an extremely fast pace. 

When your brain is healthy, it becomes easier to absorb and process information at a lightning fast rate. Taking the time to allow your brain to rest will give it the ability to function at peak performance.

Third is our ability to train and delegate. So often, entrepreneurs are control freaks. No one can do it as good, as fast, or with the same passion as they can. While that may be true in most cases, you are only one person with twenty-four hours in a day. 

You’ve got to delegate and accept people’s help. If you add one person that’s willing to give you eight hours of work a day, you have now bought back hours in your day to focus on activities that will generate more income and grow your business. Why wouldn’t you want to add more hours to your day by delegating out the appropriate task to qualified individuals?

“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.” – Zig Ziglar

2. Money

Money tends to be a sensitive topic. We all have beliefs that were formed through our childhood on the concept of money. With many different views and beliefs on this topic, let’s just focus on the fact that money is a tool that will either help grow the company or a tool that limits a company’s growth.

It is always amazing that the faster a company grows, the greater the challenge of money becomes, and this could potentially cause the company to implode on its own success. How do we then increase the capacity and have more money available to keep the company healthy?

Here are a couple of things to watch out for: 

  • Keep an eye on your budget and get accurate figures. 
  • Look at your Accounts Receivables. If they get too long, they could cause significant cash flow issues. 
  • Find investment opportunities. There are many private investors that are often willing to invest in companies that have true growth with solid foundations. 
  • Look at additional profit generators, products, or services that fit within your current business model. 

Each of these are ways to increase the capacity that money contributes to the growth of your business.

3. Space and Supply

I will never forget exactly where I was standing when I had a manufacture call and tell me they were unable to supply anymore products. They had sold us everything they had, and they weren’t going to have anything available to sell for at least another six months. At that time, we were selling customer printed t-shirts and had tens of thousands of orders that we needed to fulfill within the next thirty days.

Space and Supply are tied closely together. Space is often associated with the production. Do you have a space large enough to meet the demands of the supply? If production can only create 1,000 products a day and buyers need 5,000 a day, there is a conflict. 

A business needs to understand that challenge, and there are only 3 solutions to this problem: The business figures out how to increase production within the current workable hours, adds more workable hours with the equipment and space, or adds more equipment and space to increase production.

Space and supplies are assets that can be used towards the business advantage. Here are a few questions to ask when making decisions based on space and supply. 

  • Evaluate your supply channel. Are they able to maintain a solid supply of your raw product materials to match your growth as a company? 
  • Are there back up supply manufactures that can create a safety net for your raw products? 
  • Evaluate the amount of space you have available along with the time the space is usable. Can you run a second or third shift with the current space and equipment?

“The only person you are destined to become is the person you decide to be.” – Ralph Waldo Emerson

4. People

Your employees are likely going to be the most important way to create more capacity. We talked briefly about delegating to qualified individuals to increase capacity around your own personal time. The next phase is to create more capacity by adding additional, trained people. 

You need to create leaders of leaders instead of you being the leader of followers. Don’t miss this because the greatest of all companies focuses on increasing their capacity by training leaders of leaders and not just a loyal following.

Entrepreneurs tend to be a lonely bunch of souls. Too often, we are misunderstood and looked at with slight amount of annoyance. Others just don’t always know how to take someone that is passionately thinking outside the box. 

People skills are a must in order to have more than just yourself work to achieve that dream. As an entrepreneur, develop the social skills to work with individuals that are different than yourself.  

Here is a 3 step plan to have great capacity with people as your allies:

  1. Start by learning how to delegate your own tasks to buy back your time. Identify the tasks that are easiest to delegate and document how you do them. This will give you a specific job description, set achievable goals, and create a daily action plan that is now something that is teachable. 
  2. Use this system and apply it to the other things you are currently doing. I would suggest building out an organization chart and dividing the different tasks you do within the company. Then create a plan that will allow you to hire the right person and move you onto the next area in the organization that you will systematize. 
  3. Finally, create the culture. Culture is like a child, it will grow whether or not you pay attention to it. So be intentional. Learn what it takes to build a culture that attracts the employees that want to be there and grow with the company. 

Each of these four areas has an incredible amount of potential to increase your capacity, and allow your business to grow. Don’t attempt to tackle everything at once. Identify just one area that you will commit to grow within the next three to six months. Take action and implement. 

What is your next step? Share with us below!

Continue Reading

Trending