Lessons from Business For Life

Time To Learn

There are a lot of things that businesses do as a matter of course that if we did them in our personal lives, things might run more smoothly:

Have a Mission

  • What is the purpose of your life?  A business probably couldn’t get a way with having a “just go with the flow” approach to mission.
  • Why do you exist?  Check out mission statements from Fortune 500 companies.  Some are better than others, but they all are a statement of why that organization exists.
  • Do you have a mission statement? Is your purpose in life to make the world better?  To impact your family?  Your community? To grow yourself in some way?  If you think it through and write it down, then it is more likely to happen.

Have a Strategy

  • How are you going to accomplish your mission?
  • What are your strengths, weaknesses, opportunities, and threats (SWOT).
  • What is your timeline.
  • Who are your competitors?
  • Challenges?
  • What actions will you take.
  • What help do you need?
  • Where will you find it?

Set Quarterly Goals

I think corporations take this focus on quarterly goals too far, but I do think that having an annually goal and quarterly milestones do help keep things focused and on track.

  • Do you even have annual goals?
  • Do you break down the milestones necessary to meet these goals?  It will help you get there.

Remove ‘C’ Players

Ok, Ok, maybe some of those ‘C’ players are family.  I’m not advocating getting rid of family.  If, however, you have people in your life who are naysayers, bullies, constantly critical or who sabotage you, then it’s time to think about ‘firing’ them.  They aren’t supporting your goals or mission, and they are dead weight that you’re carrying.  Get them out.  (And if they’re family, maybe figure out how to get them into therapy or at least spend less time with them!)

Manage the Money

  • Have revenue goals.
  • Have spending constraints.
  • Manage cash flow.
  • Establish and keep good credit.
  • Use the tools–budget, review, track, adjust–that businesses use.

Have a Recognizable Brand

  • Who are you?
  • What do you stand for?
  • What value do you add?
  • When people think of you, what do they think of?  (Aunt Alice is always late . . . Dad is always grumpy . . .Brother always resists . . .Sally is always knowledgeable and cheerful).
  • Figure out what you want to be known for.  Figure out how to establish a brand that does that.

Market

  • Market yourself.
  • Market the things that you believe in.
  • People don’t know things about you unless you tell them.

Communicate Effectively

  • Focus on being clear about your message–so many problems in family and friend relationships are the result o communication problems. If you were having the same kinds of issues with your boss or your subordinates, chances are you would seek help or spend a lot of energy trying to find a solution.
  • LISTEN.  Most failures of communication are actually failures of listening.  Let the person you are communicating with KNOW that you hear what they are saying (even if you don’t agree) BEFORE you respond.
  • Choose the right media for communicating–be careful what you put into text or email.  Try to be face to face or at least voice to voice during important communications.

Be a Leader . . . and a Manager

  • Set the vision
  • Inspire
  • Don’t give up
  • Focus on the systems and structures of your life.  Set up systems that run themselves and are supported by your life’s structure.
  • Balance long-term and short-term views.

What Lessons From Business Would You Add To Your Life?

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