Today, it is very common for individuals to choose the entrepreneurial path. Tired of working for someone else and dreaming of being able to call all the shots, scores of individuals exit their employment with dreams of making it big on their own. Being in love with what we do for a living is an amazing feeling. And yet, it can easily cause us to reject actions that are difficult or undesirable (e.g., taking care of administrative tasks, consistent marketing, asking to be paid for what we do). It is much nicer, much more pleasant, to stay in the bliss of the passion of business while completely ignoring the disciplined habits that are required to keep a business functional.
And yet, passion and discipline must walk together if a business is to see success. Habits must be developed around 3 key areas to keep moving forward: taking care of admin (e.g., filing tax returns, bookkeeping), growing operations and marketing.
Allow me to share an example of how this paradigm plays out at Baylor Consulting. As consultants and coaches, our main source of income comes from client fees. In order to create client fees, we need to consistently be creating clients. In order to consistently create clients, we need to consistently schedule discovery calls, send out emails, and make introductions. It is vital that our calendar remain full of opportunities to interact with potential clients if we desire to experience financial success.
This is a very simple concept on paper. In real life however, we face resistance. This resistance is overcome by discipline. We practice discipline by asking people if they would like to have a discovery call with us (even when it makes us feel uncomfortable). We practice discipline by asking for referrals (even though we wonder if we are bothering people by asking). We practice discipline by sending out proposals (even though we know we might receive a 'no'). We practice discipline by proudly stating our fees (even though we know some people will say that the fee is too high). We practice discipline again and again and again until we create our next client. And that is why we experience financial stability and business success.
I'd like to close this e-mail with powerful questions to support you in developing discipline in your business:
- What required actions for your business do you find boring and/or undesirable?
- Why don't you like taking these actions?
- Why are these actions necessary for the financial stability and success of your business?
- Are you ready and willing to develop the discipline to take these necessary actions?
Believing in you and your business!
Erica - Chief Operations Officer at Baylor Consulting