5 Common Mistakes When Building Your Business Strategy

Every business requires strategic planning to be successful…. remember it’s something you can learn to do as a women business owner!

Five Common Mistakes Women Make When Building Their Business Strategy.

Every business requires strategic planning to be successful…. remember it’s something you can learn to do!

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  1. Strategy is a Bad Word

    Some women believe that strategy is a bad word, they believe it’s manipulating people, or we're hiding things. Strategy is a plan with detail. Strategy is why people become successful. We often look at other women and wonder why can't I have what she has? Why can't I get that raise, that promotion, or start that business? You have to have strategy, which is really just a detailed plan. If you're thinking strategy is a bad word, that's a belief that you need to delete, because guess what? A belief is only a statement that you've decided is true, and you can also decide that it's not true and delete that data.

  2. The Avoidance Technique

    I've seen so many business owners use the avoidance technique. Now what is that? If I just keep avoiding this long enough, it will eventually go away. And if you avoid creating strategy for your business, you might think you're avoiding it, but you're feeling the pain of lack of success. You're feeling the pain of struggle, of not having enough money, of not having enough clients, because success doesn't happen by accident. That's why you want a business strategy, to create that detailed roadmap to your success. If you are putting your head in the sand or using the avoidance technique, it's time to pick your head up and get that strategy started.

  3. I’m Not Good with Numbers

     Numbers are scary! I don't want to talk about numbers. I don't really want to know, if I'm actually making any money. I don’t want to ask for help because shouldn’t I already know this? What's cash flow, or what's a profit and loss statement, or what does that line item mean? What will ‘other’ people think about me? Most people like to teach you things that they're experts at, so talk to your bookkeeper, talk to your accountant, get someone, an actual person, to walk you through the different finance terms. You will be surprised at how much you actually know. Here's what I've found in business, is that most of what we don't know is only the language of the business. Once someone explains what's actually on a profit and loss statement you will realize that you have more knowledge than you believe. You just don't know the language of finance.

  4. Not Asking for Help

    You don't want to ask for help. I can do this. I got it. I don't need any help. I can do this all by myself. And this is specific to women. You know what, there's nothing wrong with asking for help. Asking for help doesn't mean that you're a failure or that you can't do it. It just means that you need somebody with different expertise. My favorite thing is to ask for help. I love to go and seek out and find those people who are experts at what they do. The experts can expedite my growth. They remove the roadblocks to my success.

  5. You Don’t Write the Goals Down

    You can set all the goals you want, but if you don't write them down, you're never going to achieve them. I don't care who you are or how much you tell me that everything happens in your mind, and you just have this magic mind where you're able to just keep your planning in there, and keep track of it. I have never yet to this day met a business owner who has said that, where it's actually true when we sit down to put it to paper. When you write things down, science says that you are 50 percent more likely to not only retain that information, but to act on it. What if you were acting on 50 percent more of your goals? How much more success would you have?

Are you making any of these mistakes? Maybe there's some new ones that I haven't even mentioned, and I'd love to hear about them.

Are you making any of these mistakes? Maybe there's some new ones that I haven't even mentioned, and I'd love to hear about them.

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