Bad Habits: A Core Reason for Business Failure

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It's a fact. Businesses fail. Sadly, thousands of small companies go out of business each day. When you ask the owners of these businesses what went wrong most are quick to point out that their failure was due to some external factor, which prevented them from achieving their business goals. Poor markets, bad employees, difficult competitors, inflexible vendors and rotten customers are the fodder of these conversations. However when studying successful businesses in those same markets, we find that when faced with identical difficulties, they still managed to succeed. Why did some succeed where others didn't? The answer is simple. Successful entrepreneurs have developed a habit of looking inward for inspiration, motivation, and accountability when things get difficult. In other words they have developed the disciplined habit of finding solutions to problems while less successful people have developed the habit of finding excuses for failure. I'm sure for some this statement seems a bit harsh but the truth is the truth. Success or failure has a lot more to do with our thoughts and actions than the difficulties we face. A habit is defined as a pattern of behavior that is followed regularly until it becomes automatic. In other words we do things we are comfortable with and we keep doing them. When we do the same thing over and over again an amazing thing happens: we get the same result over and over again! In fact people and organizations become so comfortable with some habits that they will continue to do them even if those habits lead to certain failure. Anyone who has worked to quit smoking or even correct a poor golf swing will attest that bad habits die hard and the unfortunate reality for many businesses is that their failure was simply the manifestation of their bad habits. Stepping out of a comfort zone is very difficult and one of the core reasons many business owners and their employees have such a hard time facing reality. As a coach I'm constantly faced with "we've always done it this way" cultures. The good news is, though difficult, it is possible to break away from the bad habits that are holding your business back. However, to change your habits, you must first change your thoughts and actions. And who has control of your thoughts and actions? The answer is simple. You! Four PowerPrinciples for Positive Change Identify Your Bad Habits: The first step to creating new, winning habits is identifying your bad habits and examining and understanding your behaviors and those of your employees. In this process you must be honest with yourself and accept responsibility for your failures. In addition to personal soul searching this may also be a good time to sit down with your team and do some group introspection. Ask the question, "What bad habits are holding us back from reaching our goals and achieving our business objectives?" Harness Your Desire: The next step is to mentally make the status quo untenable. As long as you and more importantly your employees are more comfortable with where you are than where you want to be it will be difficult, if not impossible to change. To make positive changes you must harness your desire. This means defining what you want, writing in down, and becoming laser focused on that goal. A burning desire to achieve a defined goal is the one key that unlocks the door to the formation of powerful new habits. As a business leader you must rally your team around a set of core business objectives and plant a burning desire in their hearts and minds to make the changes required to achieve those goals. Invest in Your Mind: Just because you want to change, need to change, and desire to change doesn't mean that you have the skills to change. The good news is that thanks to the Internet you can now browse the minds of millions of individuals with the click of a mouse, instantly. There are thousands of books written about business, leadership, and success. There are Podcasts, e-zines, and other business magazines. There are also public seminars or you can hire seminar leaders to meet with you and your staff privately. Take every opportunity to learn new skills that will help you and your team form new habits. Get A Coach: Perhaps the most powerful step you can take towards positive change in your life and business is to get a coach. A coach will act as a human mirror showing you what you either can't see on your own or are unwilling to admit. They will shine a light on the path that leads to your personal and business goals. In fact, great coach will help you break through your self-imposed barriers and lead you straight to the success you deserve.