We have all seen the dramatic track races where the runners are jumping hurdles.  How they negotiate the hurdles will determine how they finish.  Only one will win the race.  Over time, only a handful of athletes are the most successful at their sport.  Others will be runners up or less successful.  While there can be many reasons for this, one of the biggest obstacles to winning consistently are the conversations one has with themselves.  The ones they have “in their head”. It is also the same obstacle in how to overcome challenges in small business for owners.

Winning athletes, at times, reveal what they are thinking during the crucial moments of an event or game as they handle obstacles.  “I am going to make it”, “I am going to win this!” or “Give me the ball, I will score” are some of their thoughts.  Imagine if the conversation with themselves was “I’m too tired”, “I can’t make it”, “Please give the ball to someone else!”.   The result could be very different.  The conversations we have with ourselves can have that same dramatic effect especially when thinking how to overcome challenges in small business.

I am sure you agree that there are many obstacles an owner faces to find success and stay successful.  In my experience as a wealth advisor and CPA working with owners in how to overcome challenges in small business, I find there are two primary obstacle groups:  Practical obstacles and emotional obstacles.

Practical obstacles are ones we can overcome with systems and processes.  Practical could include how to target profit, manage cash flow, market properly and finding the right help.  These can be handily resolved with good business practices.

I am sure you agree that there are many obstacles an owner faces to find success and stay successful.

Emotional obstacles are the thoughts and ideas we have symbolically in our “head”, that can be a source of power or a powerful detriment.  Thoughts like “I am not a good negotiator”, “I am not good with money” or “I can’t trust Tom to take care of customers properly” are not powerful or give confidence.  “I commit to being to learning how to be the best negotiator”, “My talent is not in bookkeeping for the business and I am determined to find the best person to fill that role” and “Tom could be great with customers if he has more training” might be better thoughts to have and implement.

BTW, everyone has negative thoughts at times.  It is recognizing them, these obstacles, and dealing with them that separates great businesses from average.  Every great athlete has a dedicated and talented coach.  Maybe you need one also for your obstacles.

How to overcome challenges in small business?  How to be a winner?  It could be all in your head!

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