Entrepreneurs live and breathe challenges every day. If you have the chance to avoid them, would you do so? In this episode, Ken Courtright says you can prevent business challenges if you stop lying to yourself and start answering key questions that can unlock the sources of your problems.
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This one’s going to be difficult for me to get through without laughing. We did episode 148 on Troubleshooting Challenges. I’m going to bridge off of that because episode 149 is to put something into place that allows you to avoid some of the largest business challenges in life. Number one, let’s get real. The first step of all success is to stop lying to yourself. Everybody reading this, including myself, is going to go through business challenges and not only small ones but some massive ones. It is part of life. If you’ve heard some of the older episodes, it’s called entropy. It’s going to happen.
There’s unequivocally a 3 to 4 step process that can be put into play. I recommend you do it, if not quarterly biannually. Worst case, start it now and do it annually. It does involve a little bit of comedy. As a matter of fact, I reviewed the piece of comedy to set my mind right for this. This episode is simply called STOP. This episode is on avoiding challenges in your business. How to you avoid business challenges 101. Number one, you ask yourself the following question. If you started your business over now, would you pick the exact same product or products and would you pick the same services that you offer?The first step of all success is to stop lying to yourself. Click To Tweet
Even if you have a product, there’s a good chance you have some kind of services that go with it, either customer service or follow-up. If you started all over now, knowing what you know now, would you be running with the exact same product line and every product or would you possibly pick a new product? Would you be running with the same services or might you pick different services? This is still part of number one, so this is 1B. If you started your business over, would you hire for the first time each person working for you? If you have strong vendors and strong partners, would you partner or employ that same person if you knew you could start all over now and you never hired them and they didn’t know Eve from Adam?
Before I go any further, this shows huge red flags if you say, “There’s no chance I’d be running with that same product.” “No chance I’d hire this guy or this gal.” Right now, we know that there are huge challenges around the corner if you stick with those products or people. That is inevitable. Step one is if you started over what’d you do the same products and the same people? Step two, you’re going to do a real SWOT. A lot of people say they do SWOTs annually but most people don’t. SWOT is Strengths, Weaknesses, Opportunities and Threats. You’re not going to do it the traditional way and box it out. You are only going to do the weaknesses and the threats now and you’re going to do the strengths and opportunities tomorrow.
You’re going to list out in step two, what are the biggest weaknesses in our company? You’re going to stop at no less than twenty. If you can get to 50, that’s great. If you think you only have three weaknesses, you’re kidding yourself. The first step of all success is to stop lying to yourself. You’re not doing that great. We’re all not doing that great. We could all be doing ten times better. Let’s get real. You’re going to list at least twenty weaknesses in your company and you’re going to list at least ten threats, no less than ten. You can probably come up with 20 to 50 if you get serious.
Step one, if you started all over, what’d you do the same products in the same people? Number two, when you get honest with yourself when it comes to the weaknesses and threats, how many can you come up with quickly? How long does it take you to dig deep and get to 20 and 10? Number three, see if any of the products and services from number one correlate to the weaknesses and threats of number two. See if you can match any of them together. 3B is see if any of the people on your team correlate directly with any of the weaknesses and threats. See if you can do a match.
Once you’ve got 1, 2, and 3, you are going to go to step four. This is the magic bullet. Have you ever heard the phrase, “There’s a lot said in a joke?” Have you ever noticed that the 8-year-old and 9-year-old boys, when they’re picking on a girl on the playground, it’s usually the girl he likes? Here’s the key, there is a ton that is stated in a joke. Bob Newhart, one of the greatest comedians and one of the greatest men of all time made a six-minute video clip called Stop It. It’s a six-minute basic breakout of one of his TV shows. In the last couple of years alone, it’s had over three million downloads. Number one, you’re going to see if you’ve started over, would you have the same products or people? Number two, you’re going to do the weaknesses and threats and number three, you’re going to see if any of those correlates and you are going to follow the advice that is laid out in Bob Newhart’s six-minute hilarious video.
Here’s the key to this video, you’ve got to watch the whole thing. There are at least three main points throughout the six minutes. Watch it in its entirety. Don’t put it at 1.25 or 1.5 speed. Take six minutes out of your life. I strongly recommend that you show this to all management, your teenagers at home and to anybody that has not watched this six-minute video. If you want to figure out how to avoid the biggest challenges in your marriage, raising kids, your business, catastrophes and serious disasters, this six-minute video albeit is funny. It is one of the most serious six minutes you are ever going to watch in your life. I’m hoping this helps. This is episode one 149 it’s called STOP and I would love any feedback from episodes 148 and 149. If you’d like to give me some feedback on how you’ve applied this or how these two episodes hit you, I am Ken@IncomeStore.com. I hope this helps. Take care.