All businesses have their own unique identities and challenges, however it’s important to note that for the person behind the business there major areas to always keep in mind, and here we will covering some of these, known as the 4 Bs of Business.
Brain: Your mindset and personal belief in yourself
To succeed you must first think that you can, and act accordingly. Not only do you, yourself need to believe that you can achieve all the success you desire, but you also need to let others know that you can as well. Having others believe in you and your goals is important to keep you motivated and to hold you accountable if that is something you want.
Just as a positive mindset can help you create, maintain and succeed in business, so too can a negative one quickly causes you to fail.
Having a passion and purpose for what you are doing is crucial when running a business. Reflecting on and understanding the reason why you started the business will most likely be the thing that keeps you going in business when times get tough.
This is the main reason why, with businesses having virtually the same available support and resources, some fail, and some succeed. It is less about the ‘outside’ influences but rather the mindset of the business owner and his/her passion to succeed.
Working on your own mindset regularly is such an important aspect if you want to succeed in business.
Body: Staying in the best shape to achieve peak productivity
A healthy mind starts with a healthy body. Not only does increasing your health and fitness make you feel much better about yourself, it will also give you the energy boost needed to get through those extra-long days.
Eating regular fresh, healthy food and avoiding those easy, fast food options is a start to achieving a healthy body. Exercise is of course important for both fitness of the body and of the mind. Getting out and exercising gives your brain a rest and produces those healthy hormones at the same time.
Stress is nearly always an issue with business owners. Having a healthy and fit body helps your body to cope with the extra stress as it arises.
Remember to schedule in some exercise and try to eat healthy meals and snacks throughout the day.
Brand: It is so important today to have a strong Personal Brand
Your brand is your ‘front’ to the world, it is the reason people will come to you and your chance to stand out from the crowd.
Your brand should tell your story and make your business the one other people and businesses want to come to.
You also need to look at other aspects such as what makes you unique in the market:
Is it location? The Services you provide? The choice in handling payments?
Find something that makes you stand out and let the public know.
Business: Do you have the most appropriate business model to deliver your desired professional and lifestyle goals?
This is one that is often overlooked and undervalued because people create the business that they want and don’t think about the business that they need.
Are you in a business structure that protects you from personal and financial disasters?
Is your business model the most suitable for the service you provide?
Ensure you take the time to learn what is happening in your industry, look at different options and seek professional advice on the most appropriate structure for your business.