It is undeniable that the economy worldwide has been buffeted by numerous perils and ills, which I dare not elaborate on as the media has done quite a good job on this. However, it is now time for businesses (particularly your business) to turn their attention to what they really want, following a system that will guarantee success. Whilst many businesses may find this hard to digest, it is a fact that irrespective of the economic climate a small proportion of businesses have been thriving. History shows us that during economic downturn some businesses make significant profits relative to periods of economic boom. What I want to share with you are some of the strategies and systems used by the few successful businesses that have managed to learn the art and science of succeeding in today’s economic conditions.
My point of reference for the purpose of this article is a wealthy American business man known as W. Clement Stone. If you are not aware of him, you will be by the time you finish reading this article. W Clement Stone was in the business of insurance. He grew his business significantly up to a period of economic downturn in 1929. Using the system he had always used, he suddenly realised that in spite of the downturn in 1929, his business continued to grow faster, with a reduced workforce, much to his surprise. He was so thrilled by the entire experience that he put his success system into a book which is available for all to read and learn from. It is this system that I want to share with you. The key questions to ask:
• What did he do differently from other businesses during the downturn?
• What was the secret behind his business success and can anyone adopt it with no significant financial investments?
• What can you as a business owner learn from his success system and how quickly can you implement the lessons learnt?
Fundamental to his success system and strategies were three elements:
• He understood the creation process, which is briefly explained in subsequent paragraph
• He consistently, and correctly, applied the creative laws supporting business success
• He adjusted his products and services in response to the needs of the market and took appropriate action to serve the market effectively using appropriate marketing strategies.
All three steps will be briefly explained. One thing you must know is that ‘Success’ and ‘failure’ are created using the same process but with different ingredients. This process involves thoughts, mind and vibration. The thoughts, which happen to be the fundamental ingredients, we hold most in our minds, whether we want them in our business or not will usually transmute into physical reality. When this happens we label the experience as our reality and that of the world. Nothing can be further from the truth. Ignorance of the law is no excuse. It does not matter who holds the thoughts, the law of creation will always prevail. Good or positive thoughts held firmly in the mind will soon begin to attract events corresponding to the characteristics of the thoughts and vice versa. Unfortunately, many business owners do not understand this law and this was one of the key strategies that W Clement Stone used to overcome the challenge that everyone was experiencing during the great downturn in 1929.
As I coach business owners, I have found that many do not know that they have within them the power to internally generate their own thoughts as well as access the thoughts of others from their external world. I frequently tell business owners to understand that what we as individuals frequently see, hear, speak of, emotionalise, touch, and smell, will soon become the object of our reality. Sadly many are disciplined to focus on the outside and by doing so, frequently focus on negative news, only to find themselves attracting what they do not want to experience. In one of my session with a client, I remember having to spend hours with her before she finally came to terms with the understanding of how we create events in our business and, dare I say, our personal life. One of the ‘Success Systems’ used by W Clement Stone is the discipline of directing and focusing his mind singularly on what he wanted to realise in his business. Time spent creating the positive images of outcomes he and his team wanted to experience when they called or met with prospective clients was a significant ritual at the start and the end of a working day. With this in mind, it is important you understand that that which you give your attention to and believe to be reality, you will experience perpetually because the mind will see to it that you attract the events supporting your thoughts and beliefs. It is therefore time for you to start focusing on what you want in your business irrespective of what is going on in the outside world. This is a critical success strategy that many ignore at their peril.
As simple as this system may sound, many have found it difficult to implement, at least initially. We are all creatures of habit and it takes time to ditch old habits for new ones. Many find it challenging to take control of their thoughts, not to mention directing their minds toward the object of their desires. That’s OK, the important point is that you start and press on with it until you develop the new habit. Self discipline is therefore a critical success factor in building a successful business. As part of your strategy to build self discipline, some guidance and support from an expert can go a long way to helping your business embody the mind power strategy. Part of Neuro Linguistic Programming is about mastering the mind to achieve business excellence and personal mastery.
Even more than taking control of the mind and managing thoughts, business success calls for developing the appropriate marketing strategies that best fit the economy. A business cannot generate significant sales and profits using the wrong business strategy or for that matter thinking about poor sales and profits. Success only comes when a business sells products and services that customers, or prospective customers, want at a price they can afford. This means that all aspects of the marketing strategy should be reviewed to ensure congruency between products, price, place, promotional strategies, policies, processes and people. W Clement Stone had to make adjustments in his insurance portfolio during the downturn. The adjustments he made helped his business to continue selling insurance policies of the type needed by the market at that time. All of this goes to show that an attitude of flexible approach, sound business competencies, as well as right thinking is critical for business success.
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com |
