By Chris Hogan, Director of Wealth Management
As a business coach, I talk to business owners from all over the country. And no matter what their business is, where it's located or what size it is, the owners all seem focused on how bad things are. The economy, the national debt, rising interest rates, the stock market, etc, etc, etc.
I would like to personally call a timeout on all the negative talk! Yes, there are things that are not going well right now. But realistically, have we ever had a time when everything was going well? Aren't there always some things that aren't going as planned? Should we be surprised that this is the case today? I don't think so. I think we have to be realistic and turn our attention to the things we can control. In the interest of being proactive and energy-efficient, let's stop focusing on things we have no control over and will never be able to affect.
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As I have coached business owners in the last few months, I have hit on a few key principles and activities that apply to all businesses of all sizes—things you can and should control as a business owner each and every day. I call it the Hogan "PRO" Model. It stands for prospect, revamp and outwork. I like this acronym because it reminds you to be a pro in every way—in the way you conduct business, build your business, and own your business.
"P" is for "Prospect."
A business owner must constantly look for new opportunities—opportunities to educate new customers and clients or opportunities to serve your existing customers or clients. Devote a portion of each day to active prospecting! The concept of prospecting is digging, hunting and mining everywhere—networking online and face to face. Dig for new business and referrals.
"R" is for "Revamp."
You have built your business from the ground up. You have always had a "certain" way of doing things, and there may be no rhyme or reason to it. Could it be that you continue to do it—well—because that's the way you've always done it? We are in constantly changing times, and you should recognize that by revamping your approach to your business. Revamp your attitude and outlook, revamp your focus on the daily tasks it takes for you to be successful in your market segment.
"O" is for "Outwork."
At the end of the day, the key to being successful is to outwork the competition. Get up early and work a daily plan for success. Maximize your day by being strategic in everything you do. Yes, you may have to dedicate more time to planning, developing and growing your business. Do not do this grudgingly. Accept that you must devote the attention and give the effort, because your business depends on you!
Yes, these are challenging times, and business owners will always face challenges as they sustain and build their businesses. That's why I encourage you to apply the "PRO" model to your business today and every day. The goal is not for your business to survive, but to thrive!
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In 20 years, Dave has grown his company to a national winning brand with more than 300 team members who have impacted millions of lives. His company has been named one of the “Best Places to Work in Nashville” four years in a row. EntreLeadership is how he’s done it and how you can do it too. Get your copy of the new book now!