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Business Strategy for Ambitious Entrepreneur

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Why Strategies Are a MUST for Entrepreneurs (Pt. 2)

February 12, 20245 min read

Why Strategies Are a MUST for Entrepreneurs (Pt. 2)

Why Strategies Are a MUST for Entrepreneurs (Pt. 2)

Most people get strategy all wrong. When they look to execute a business strategy, they lead with the belief that it's a solution to a "tool kit" problem. And while it does, the problem with execution is that it isn't a toolkit problem, it's a mindset one.

What most business gurus don't tell you is that all strategies work. It's your mindset that leads to the lack of execution and pay off. So let's get working on it by diving into the three key things I know to be true, that really help female entrepreneurs feel good, and continue to feel good, about executing their vision and getting results!

The first mindset shift to unlock the results of your business strategy is to become a curious observer and document all negative or limiting beliefs that come up. Write them down. When you put pen to paper and open your eyes to the running negative dialogue, you’ll start to see a pattern. Awareness is key, so you can say "Oh, I see that’s coming up again!" Perfectionism, procrastination, all the fear about showing up and standing out... when you start seeing all the ways these limiting beliefs creep in, you're already on the right track to go next level and re-write your story with a new one.

Conversely, when we don't do this and continue to shove it down, those beliefs will start manifesting and sabotaging your business through anxiety, overwhelm, fear, or even freeze. When you don't recognize these negative patterns, you'll never dive into the root of the problem and figure out what the real issue is. So grab a journal, keep it near by and document whenever these thoughts start creeping up.

The second mindset shift is to realize that winning and losing are just illusions. There is no such thing as failure, rather just lessons that need to be learned. I know, for all entrepreneurs, that the more failures we have, the more growth we have. So much of business strategy is trial and error, so shift your focus from immediate outcomes to knowing the process and trusting the journey.

I've been an entrepreneur for over 15 years and have built multiple 6 figure+ businesses, and believe me... I have had more than a few failed launches or systems that have gone haywire. To me, those are all my greatest accomplishments because those "failures" fast tracked me to my goals faster than any successes did (there's a mindset hack for you!)

You'll go farther by learning what doesn't work, that what did work.

Not only is this true with systems, but it is even more so with your team. Leadership is such a huge piece in self growth, because it shines a giant spotlight on you. When you're finding that you are losing people, or hiring those who aren't the right fit, stop being so hard on yourself and start looking for what you want in the future. Debrief on what you could have done differently, but don't live in the space because hiring and firing is all part of the process to getting closer to the people that are really going to move your business forward.

Finally, imperfect action is better than no action at all. I'm talking to all my perfectionists here! Too often, we get so caught up in getting things perfect that we paralyze ourselves to do anything at all. I see this a lot when I’m coaching people. We’ll be meeting every week. and they are kind of taking action behind the scenes, but you never really see it on the forefront. For a long time, it’s like they have to get the confidence to be able to do the things that I’m asking them to do.

Just remember that when you feel procrastination or you feel like you don’t have it quite perfect, so you can’t put it out there, that the best way to get over that little fear is just to put some action around it. One of the real die-hard things that I know is that when you put action around anything, you’ll always get a result. You’ll always have forward momentum.

People get stuck being afraid it's not good enough. They need a perfect website, or they aren't ready for a discovery call. But what I love more than anything is watching my clients get over this hump by just going for it and embracing the mess! After all, don't you admire when someone just goes for it and let's their natural self shine? They always attract people because their authenticity leads them to ask the right questions.

I want to leave you with one last thing regarding confidence, particularly in business. When I go through our Authentic Selling training, one of the questions I always ask is, "how confident are you in general?" then follow up with, "How confident you are in business?" Most women, honestly, will say they are a 9 or 10 in real life. then, when it comes to their business, it drops to a 5 or 6. Why? Because sales are intimidating, and the fear of failure or "what will people thing" causes them to shrink back. Hence, why mindset is so important to every strategy!

Remember, every strategy works. It's your mindset that leads to execution and receiving results. So document those limiting beliefs, see the patterns so you can release them. Reframe your failures into lessons (and celebrate the hell out of them) and remember that imperfect action is better than no action at all.

Then watch your numbers match this mindset shift, and see the results of the business you've built!

Why Strategies Are a MUST for Entrepreneurs (Pt. 2)
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Sheridan Cotrell

I (Sheridan) used to be that visionary business owner with all the balls in the air. I had my master's degree in speech therapy and created a six-figure consulting business in that field. But I didn’t stop there. I created another six-figure business as a health coach, and then one as a business coach for good measure. But the whole time I was trading time for money. I worked a zillion hours a week. Don’t believe me? I have five kids, and in addition to the work stuff, I was an available and committed mother to my children – doing the laundry, ferrying them to activities, and on and on... By outward measures, I looked successful, but on the inside, I was mentally and physically exhausted. I had hit a ceiling in my income and every incremental increase required more from me. I was in constant striving mode, trying to push myself to constantly do more. Until it all fell apart (even typing that makes me quake remembering). I had a major health crisis that caused me to pull the plug on 95% of my business. Almost everything came to a full stop. Which was the best gift I ever received. You see, working hard and learning more skills is not enough. Heart, vision and best intentions are not enough. It’s embarrassing to admit, but I didn’t know what I was doing even though it looked like I did.

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