Today I have a couple of challenges and some inspiration for you as a business owner, and maybe a few reality checks too.
“Warren Buffet said he reads 3000 annual reports a year to gather key information about what is happening in the marketplace. This allows him to make wise investment decisions. You must be informed about what is happening in the market. Educating yourself is fundamental to success.” Chris Howard
I’ll do the math for you: 3000 per year is 8 every day. Do you read at least 8 articles or listen to at least 8 podcasts/videos that actually help you each day? I’m not talking about the headlines you skim but about the actual things you read/watch/listen that give you some new insights into running a business, the industry you’re in and business as a whole? Make time to educate yourself on a regular basis.
“Consider a hotel shower. It has 11 things that might be dials, and five that actually are. The alert person, standing under cold water, at 5 in the morning, in a dark hotel room, will probably (???) realize that the bottom dial, all the way near the floor, is actually the one that controls the temperature. The lack of instructions doesn’t make something simple.” Seth Godin
Seth Godin always has great insights, and this insight is no different. The reminder is that assumptions are dangerous. Want to make sure your assumptions and biases aren’t blocking your success? Get an outside perspective on things to make sure that you aren’t blindly assuming everything is great (even if you numbers prove otherwise).
“Often, we do not know where our choices will take us. This is why the best choices are often made based not on what they can bring to us, but what they will allow us to bring to others.” Loretta Lynch
There are a lot of unknown factors in running a business. You’ve got the unknowns of the market, your customers and your employees or support staff just to mention a few things. But there are unknowns in life too, from health to weather to driving, the world is filled with factors we can’t control. While we should never ignore ourselves and our health and well-being, if we choose to look out for the well-being and satisfaction of others, especially when it comes to business, we’ll have a greater chance at success.
Which of these challenges speaks most to you? Which one is the hardest for you? What challenges have inspired you?