Thriving in Business
- May 31, 2021
- Posted by: Philip Struble
- Category: Uncategorized
Are you thriving?
What a great word. It means to prosper; be fortunate or successful; to grow or develop vigorously; flourish.
Who would not want that?
Thriving in Business
Starting a business, then growing it and keeping it vital so everyone involved thrives – that is what organizational effectiveness looks like. Everyone thrives.
And, as small business owners and entrepreneurs know, what separates thriving businesses from those that fail is a little bit of luck and a lot of hard work.
For everyone to thrive, business leaders must thrive. Here are five attitudes that every owner and business leader must have.
- Have extreme internal motivation. A small business owner and entrepreneur needs to be willing to face undue hardship while they pursue their dream. They risk so much, and grow and evolve in ways that employees wouldn’t understand unless they, too, ventured out on their own. Most people focus on their hobbies when they have downtime. Small business owners and entrepreneurs, meanwhile, maintain focus on their business.
- Maintain a bias toward action. As important as it is, motivation is only the first step. A lot of people have big dreams, but not enough of those people take action to build those dreams.
- Have a willingness to travel a nonconventional path. It can be challenging to take the first step toward launching your own business. Even so, once people get a taste for working for themselves, many find it hard to turn back.
Still, this leap comes with trials not experienced by most employees. Income can vary dramatically from month to month, and business challenges like poorly performing employees, a rough economy, or a prototype that doesn’t sell can have a dramatic effect on your trajectory. These are risks all small business owners and entrepreneurs must accept.
- Find the market before developing the product. Many new entrepreneurs think they have the greatest idea, but they don’t take the time to vet their concept with a potential market before starting to build — and that can be a costly mistake. Consider lest expensive methods such as making a simple prototype or designing a scaled-back version to test the market.
- Understand the value of time. Successful entrepreneurs know their time is worth more than money. You can never get time back — even if you’re charging a million dollars an hour.
At the same time, the amount of money you can make is infinite. You can always make more of it. Keep time in mind and prioritize what’s essential in your life.
- Prepare for risk. Build an emergency fund to cover the longest length of time you foresee going without any income. Running a business comes with ups and downs — and they aren’t often controllable. If you have a partner or family, in particular, the risk of losing the house or not having enough cash month-to-month can be devastating.
You were not meant to struggle to make it through work. You were not meant to be shackled by anxiety, worry, and fear.
No, you were meant for so much more.
You were meant to have life and to have it more abundantly. That is the promise of the eternal God.
John 16:33 says.
I have told you these things, so that in me you may have peace. In this world you will have trouble. But take heart! I have overcome the world.
Jesus is not saying you won’t have trouble in this life. Without exception, all of us will have some bad days.
Thriving is not about being wealthy or always happy, not that those things are bad. Thriving is being prepared to weather any storm with peace of mind. Good business practices set your business to withstand trouble, and the Word of God will enable you to live with peace.