When I founded my business about 9 years ago, I fondled my way to making losses, month after month. I did everything my mentor suggested but kept struggling to make ends meet. At one point, I gave up upon concluding that I wasn’t cut to be an entrepreneur. However, my mentor advised me to perform four reality checks about myself and the business.
Below, is the first reality check I performed. Note that in the next three articles I will share each of the reality checks. Please subscribe to my blog or check back next week for the next reality check.
1. Personal Reality Check.
This involves evaluating the following areas of your life:
(a) Mindset:
- What are your beliefs about being a successful entrepreneur?
- What are your prominent thought processes? Are you consistently dwelling on the past and what went wrong, what could go wrong, or you are focused on what could go right?
- What is your relationship with money?
- On a scale of 1 to 10, (1, being “not at all,” and 10, being “absolutely influential”) how influential are you?
- What fears do you have about success?
- Do you feel worthy of progress?
- What’s your idea of success? What will have to happen for you to know that you have succeeded in business?
- What’s your why? Why are you pursuing this business?
(b) Strengths
- What strengths do you possess that can progress your business? These strengths are both internal and external.
Internal strengths are related to the mental, emotional, and spiritual states; skills, expertise, educational background and/or experience.
External strengths include your financial status, and resources available to you, such as office space, good business relationships and connections, plus support from your loved ones or other positive-minded individuals.
The idea is to find out your strengths in these areas. Note that it’s vital to be honest with yourself.
(b) Weaknesses
This involves investigating your weaknesses, internal and external.
It would be helpful to refer to what you discovered about your mindset. Are there are any loose ends you need to fix?
- On a scale of 1 to 10, 1, being “not driven,” and 10, “very driven,” how driven are you?
- Do your daily rituals support your progress?
- What relationships weigh you down and why are you still holding onto them?
- On a scale of 1 to 10, (1, being “not at all,” and 10, being “absolutely determined”) how determined are you in improving your health? Note that a healthy body promotes a healthy mindset, which then promotes positive, and enthused action.
- On a scale of 1 to 10, (1, being “not at all,” and 10, being “absolutely determined”) how determined are you about focusing on what you want without dwelling on the negative?
- On a scale of 1 to 10, (1, being “not at all,” and 10, being “absolutely organized”) how organized are you?
(c) Opportunities
- What opportunities do you have at your exposure that you can explore to progress in your business?
- What can you do to turn your weaknesses into opportunities?
(d) Threats
- What do you believe are your threats?
- What risks are you facing by operating your business and how can you avoid, or work with them without letting them affect your business?
Note that becoming a successful entrepreneur demands more than wishful thinking. One has to be determined to evaluate how they can improve consistently, what they should let go and the changes that need to happen. However, all this begins with mindset.
In my transformational coaching sessions, I can help you identify the areas in your inner and outer worlds that need to change, improve or be released. I partner with my clients to help them release anything that could be blocking them from taking action. We work together on developing mindset, and operational strategies for success. After the sessions, clarity, a new sense of direction and enthusiasm are achieved.
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