With March Madness upon us it brings to mind how business sometimes seems like a win or go home proposition. It doesn’t have to be that critical, but taking the attitude that a loss is unacceptable sometimes is the way to go. Most successful business owners and executives are very competitive people. They thrive on the deal and excitement. They have passion and energy. They respond to challenges and meet them head on. It is in many ways a tournament type environment to them. The successful executive can make adjustments quickly to save the day. They understand how to leverage their power and create win win situations. So how do you incorporate this mentality?
First you need to set goals to be the best in some area. We want to be number 1 in our region, or locally or even nationally. We want to be the leader in market share. We want to be number 1 in quality or the low cost producer. Set a goal to be the best. Work diligently to attain the top position. Then set up action steps to stay on top. Staying on top is usually harder than getting on top. Accept the challenges from competitors and look forward to beating them.
Act proactively. Winners see things before they happen. They have prepared for all possibilities and can react better when surprises occur. The definition of luck is sometimes stated, “when preparation meets opportunity”, so sometimes when we see a company get lucky, it was more of a situation that they made their own luck by working hard and preparing for whatever comes their way. Yes being in the right place at the right time occurs, but you still had to recognize the opportunity and act upon it with the appropriate action.
Go Execute. Once you have planned, prepared and trained, just do it. You must be able to execute. Once you do, then analyze and make changes on what went right or wrong. Whatever product or service you offer, you can’t perfect it without making it, selling it and seeing how it works in the real world. Time is critical in any business. So, execute and perfect over time.
Use your support systems. All successful people understand that they do not stand alone. They have trainers, staff, assistants, experts, colleagues and trusted advisers. They use all their resources to help themselves and take advantage of the knowledge of many versus the knowledge of one. Find out and use the skills of your team and use outside sources to provide balance and objectivity. Sometimes someone not internal can see things that people to close to the situation cannot see.
By following these principles you can make your business the winner this March Madness and many more to come.