Predicting Your Small Business Success…

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As this financial year draws to a close and we embark of a new year with new opportunities, the usual challenges and also some new ones… How can you be sure you’re going to achieve your desired goals?

Emotional Intelligence – the single most significant predictor of success

“When emotional intelligence first appeared to the masses in 1995, it served as the missing link in a peculiar finding: people with average IQs outperform those with the highest IQs 70% of the time. This anomaly threw a massive wrench into what many people had always assumed was the sole source of success—IQ. Decades of research now point to emotional intelligence as the critical factor that sets star performers apart from the rest of the pack.” Travis Bradberry

The Small Business Success Challenge

So for the last couple of years I’ve been working with small businesses, I’ve found many to be doing OK, some to be doing great and others just aren’t delivering the results the owners desired.

In all those cases the owners are working hard, yet some couldn’t even replace themselves for the money that they currently getting paid. Now if that’s you, and you love the flexibility or the autonomy, that’s great. However, if you’re looking for a better lifestyle, there may be some options to improve.

Even in my own example I found that after more than a year, when I took the time to examine the results I was getting for my time input, I simply wasn’t on the right track. I had put myself through some fairly intense (and expensive) training, I was learning, sharing and giving, just the results weren’t coming though. I had developed some IP (programs) that could assist business owners and found that I was not able to get across to those business owners what I was offering, or at least not the value it could deliver at the price.

Now that’s not their fault, I simply wasn’t displaying value. My message was unclear, I realised I needed to change two things. 1. I needed to change the presentation of the offer and 2. I needed to change me.

This was a realisation that started a great ride. I needed to lift my emotional intelligence. It was not always easy, like any rollercoaster, it had up’s of hard work, and downs, twists and turns, it’s been exhilarating.  But hey, wouldn’t life be boring if it was like a Ferris wheel? Overly predictable with little change, just a gentle up and gentle down… Or maybe that’s just my view.

Business success should be the predictable result of doing what you already know you need to do.  Refining your process, your marketing and your sales to continually improve the results you get from what you do.  Being self-aware is the starting point, self-management is the key and continuous motivation towards your goals is the driver. That’s emotional intelligence in action.

So I continued to train, to learn and also started to put myself through the program I’d been developing. I started by analysing and then documenting where I wanted to go. It’s funny, as you get clearer about what you want, rather than the things you don’t want, just what you want, you start to move toward them.

Bringing change to life

At first I was following the pattern I’d been taught through Thought Dynamics.  The challenge was that I was finding that the language around it confused the message and so I extended the model, bringing in other reference points and brought a small business and team business perspective to it. I started to share it with clients and late last year I began to build a program that I’ve been refining since.

Group and Individual Success

Looking at the group that joined me in January, we put together 6 business owners, from various backgrounds.  One was just starting out and two had a business older than 10 years.  All were in the service sector, yet with very different offerings.  They ranged from Recruitment, to IT (a couple different styles) to PR, an architect and also process improvement.

We started with challenging everyone about what they really wanted out of their business, we went back to the fact that as people, their business was simply just one part of their lives, a vehicle that delivered income and also an expression of professional output. The fact that their business needed to fit into their life plan, rather than life fitting around their business… We had a start.  We were building the initial phase of self-awareness for the business as a separate living entity to them.  Together we were starting to develop a model of Emotional Intelligence for their business.

Although, at the time, nobody knew it… we were building a platform for them to accelerate their success. Within 4 months 4 of the 6 were recruiting because they’d grown. One had just transitioned a staff member and was getting “the right people on the bus” and the other was developing the IP that could produce the Products and Services to take them to the next phase of development. if that’s not Small Business Success in action, I’m not sure what will be.

The First Step

Getting clear about what you really want and where you really want to go, is always the first step.  Imagine any journey that has no destination… No wonder we sometimes are unclear about what we really need to do next. When we don’t know what we’re building/where we’re going, of course it’s hard to prioritise what should be done first.

If you’d like to talk to me about sharpening your vision for your business, building your emotional intelligence and how this fits into your life plan, contact me, I’ve a group starting soon with just a couple of vacancies, don’t miss out. Call me on 07 3121 3272 or email me at kevin@imaginefirst.com.au

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#emotionalintelligence #smallbusiness #BNE

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