Business 04 April 2018
Are you truly loving what you do as well as loving the adventure of managing and running your own business? Doing what you love and knowing what you love to do is a good start, but it won't transpire into a successful business unless you are a business savvy entrepreneur.
Getting any business off the ground takes a lot of energy and commitment. That's why it's crucial that you know how to mix business with pleasure (what you love to do) successfully. As an entrepreneur, you are responsible for making key business and financial decisions. The decisions are endless and they will not go away. In fact, they will get more complex as you continue to grow and expand. To give your business venture the best shot at surviving long-term, you need to be business savvy.
Women who love what they do and do it because it brings them joy are the ones who will be successful and make money at it. Sounds cliché, yes? No, it's not. True success does not occur unless you are doing what brings you joy. So, why do too many entrepreneurs fail, even though they choose to do what they love? Their main problem is their inability to manage their business wisely- they were not able to mix business with pleasure successfully.
A sustainable and generative business is not built on genius, or better education or pure luck. Rather, it is generated by your capacity to manage your business wisely and with strategic awareness. To be profitable and oriented towards new and different possibilities you have to be able to mix business with pleasure (what you love to do) successfully. And, most important you must be willing to acknowledge that being business savvy is not only possible, it is a real part of your business future.
As much as you may not want to believe it, your ability to mix business with pleasure successfully is the lifeblood of your business. Without it, your business will come to a halt. This is why being business savvy matters so much. Whether you have already operating a super successful business or are still working towards it, your ability to mix business and pleasure successfully is essential for personal effectiveness, peace of mind and business success. Unfortunately, too many women entrepreneurs do not set a priority to become business savvy until their business is in crisis, which, in most cases, is too late. Not getting around to becoming business savvy will cost you in the long run.
You can alter your business by altering your choices.
The ability to mix business with pleasure successfully is indeed the great power of being in business for yourself. You can continue to not educate yourself about what it would take to mix business with pleasure successfully and ignore the underlying business realities. Or, you can make a different choice to become aware of what you need to know in order to create a strong foundation from which to grow your business and create a different financial reality. You can alter your business by altering your choices. If you don't know anything about business strategy, then most of your results you might achieve will be due to luck, and a lot of that luck can be bad.
What are your targets?
Not everyone is cut out to be an entrepreneur. That's why it's important for any women who want to start a business to have a "sense of excitement" about managing the business. You need to know what you would like to create and your priorities, and you need to expand your awareness to be ready to receive new and different possibilities.
Unlimited possibilities to generate a thriving business are present every moment of every day of the week. The question is, are you ready and willing to receive and benefit from them? Every waking and sleeping moment should be engaged by your vision of new and different possibilities. Take a moment to ask yourself:
- What am I choosing to create as a business and life?
- What is my target?
- Am I truly loving what I do as well as loving the adventure of managing and running my own business?
- Do I believe that it is truly possible for me to mix business with pleasure successfully?
Develop your business strategy
The reality is that any woman can acquire the knowledge to become business savvy. It starts with making a choice to discover where you are and what you would like to create and then develop your business strategy by outlining the key priorities of your business into the future.
The strategy must provide the details of your business, including the services you offer….
- What do you want to achieve?
- What does your business stand for?
- How does your business differ from the competition?
- Do you have financial projections and marketing strategies?
- What specific objectives do you want to achieve – both short and long-term?
To mix business with pleasure successfully, it is important to be aware of your money situation. It is essential to know what it costs you to live the life you desire and to run your business, so you can see what kind of money will be required to be generated by your business.
- Do you have a clear picture of your business and your personal financial position?
- Do you have a firm grasp on all of the financial matters in your personal life and in your business?
- Is your business healthy enough to support you as the founder? This is about looking at how things really are, instead of how you would like them to be.
The purpose of a business is to create, both create profit and to create more in your life. The reality is your business must be able to support you and your lifestyle. Are you aware of how much will the business need to generate to pay you, so that you could create the life and the financial reality you desire? Do you have an exact figure for what it costs you to run your business and to live your life?
Many women entrepreneurs are vague about how much revenue they generate each year. The question is - do you generate enough revenue to meet basic living requirements and to cover your bills, food and other miscellaneous living expenses. Your income needs will depend on your lifestyle choices, your living expenses, financial situation, and comfort level.
The information that is crucial here is the amount of revenue you would need as income in order to have your quintessential lifestyle. Once you know precisely how much money you need to create the life you desire, you will be able to move from just wishing or dreaming to the space of physically actualizing it with ease. When you are aware of what it truly is, then you can expand it or change it. You are the creator source of your own financial reality and you certainly don't have to be a victim to any circumstances. You can make the changes in your reality that will allow you to create a different financial reality.
It is one thing to read and another thing to understand what you are reading. Not only do you want to understand, but also remember what you've read. Otherwise, we can safely say that if we're not gaining anything from what we read, then it's a big waste of time.
Whatever you read, there are ways to do so in a more effective manner to help you understand better. Whether you are reading by choice, for an upcoming test, or work-related material, here are a few ways to help you improve your reading skills and retain that information.
Read with a Purpose
Never has there been a shortage of great books. So, someone recommended a great cookbook for you. You start going through it, but your mind is wandering. This doesn't mean the cookbook was an awful recommendation, but it does mean it doesn't suit nor fulfill your current needs or curiosity.
Maybe your purpose is more about launching a business. Maybe you're a busy mom and can't keep office hours, but there's something you can do from home to help bring in more money, so you want information about that. At that point, you won't benefit from a cookbook, but you could gain a lot of insight and find details here on how-to books about working from home. During this unprecedented year, millions have had to make the transition to work from home, and millions more are deciding to do that. Either way, it's not a transition that comes automatically or easily, but reading about it will inform you about what working from home entails.
When you pre-read it primes your brain when it's time to go over the full text. We pre-read by going over the subheadings, for instance, the table of contents, and skimming through some pages. This is especially useful when you have formal types of academic books. Pre-reading is a sort of warm-up exercise for your brain. It prepares your brain for the rest of the information that will come about and allows your brain to be better able to pick the most essential pieces of information you need from your chosen text.
Highlighting essential sentences or paragraphs is extremely helpful for retaining information. The problem, however, with highlighting is that we wind up highlighting way too much. This happens because we tend to highlight before we begin to understand. Before your pages become a neon of colored highlights, make sure that you only highlight what is essential to improve your understanding and not highlight the whole page.
You might think there have been no new ways to read, but even the ancient skill of reading comes up with innovative ways; enter speed reading. The standard slow process shouldn't affect your understanding, but it does kill your enthusiasm. The average adult goes through around 200 to 250 words per minute. A college student can read around 450 words, while a professor averages about 650 words per minute, to mention a few examples. The average speed reader can manage 1,500 words; quite a difference! Of course, the argument arises between quality and quantity. For avid readers, they want both quantity and quality, which leads us to the next point.
Life is too short to expect to gain knowledge from just one type of genre. Some basic outcomes of reading are to expand your mind, perceive situations and events differently, expose yourself to other viewpoints, and more. If you only stick to one author and one type of material, you are missing out on a great opportunity to learn new things.
Having said that, if there's a book you are simply not enjoying, remember that life is also too short to continue reading it. Simply, close it, put it away and maybe give it another go later on, or give it away. There is no shame or guilt in not liking a book; even if it's from a favorite author. It's pretty much clear that you won't gain anything from a book that you don't even enjoy, let alone expect to learn something from it.
If you're able to summarize what you have read, then you have understood. When you summarize, you are bringing up all the major points that enhance your understanding. You can easily do so chapter by chapter.
Take a good look at your life and what's going on in it. Accordingly, you'll choose the material that is much more suitable for your situation and circumstances. When you read a piece of information that you find beneficial, look for a way to apply it to your life. Knowledge for the sake of knowledge isn't all that beneficial. But the application of knowledge from a helpful book is what will help you and make your life more interesting and more meaningful.