The Missing Key to Business Success in the 21st Century

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The Missing Key to Business Success in the 21st Century Image Credit: english.caixin.com

The secret of business is to know something that nobody else knows. -Aristotle Onassis. With the prevailing global economic situation, it is said that 4 out of

every 5 businesses fail.

But why do businesses fail?
Businesses fail because they consider themselves simply as businesses. This trend can only change when they start switch-thinking. Switch-thinking can be explained using the two sides of a coin. While the tail represents the conventional way of thinking and defining a business, the head introduces a whole new perspective to success.

Let me explain:
THE TAIL SIDE OF THE COIN
A man spots an opportunity to make money and he starts a business. He dreams of the larger-than-life lifestyle it will usher him into. In most cases the business starts well then, there is the desire for more growth, but instead of making more, he sees his dream get frustrated and struggle sets in. It is as if the business is up against an unseen resistance which limits it. What can the man do at this point to remedy this situation?

THE HEAD SIDE OF THE COIN
Let’s look at this differently. Instead of focusing on the self-serving reason why anyone should start a business, let’s consider the angle of what the business intends to deliver. Let me give you an example. I was at the bus stop one evening (during the rush hour) waiting for a bus to get home. As usual, there were a lot of people at the bus stop at that time.

All of a sudden, it started drizzling; now the urge to get home was on the high. A 14-seater bus arrived and everyone rushed towards it. There was some struggle and in a few seconds the bus was filled up; and as it was about to move away, a 40-seater bus came along.

I was so glad when this second vehicle arrived, because its arrival enabled me to get home before the rain became heavy. I can remember also being at that same bus stop some years ago when it started raining heavily, and there were no vehicles making stops at the bus stop. I and other commuters were soaked in the rain. One question that was constant on my mind as I stood in the rain that day was: how do I get home? And believe me; I was ready to pay or do anything at that moment to get an answer.

Being stranded at a bus stop, I could be likened to any business prospect; I was at a location I did not want to be in, waiting to be taken to where I desired to be. When businesses start seeing themselves from the mindset of being responsible to get clients or prospects to their desired destination, it flips the struggle switch. If you identify that your business is at the tail side of the coin; it is because you are more concerned about what you are to receive, than about the value you are to deliver.

This is wrong because the self-serving mindset puts your business in a struggle cycle; they find that the more they try, they more they have to keep trying. Now is there a better way for you to both satisfy your self-serving desires and still have a great business? Yes.

When your business is on the ‘head side of the coin’ it is a totally fresh experience. Your business positioning can be likened to that of a super hero or (the best description I can come up with is) the biblical Moses. Moses was tasked to lead the people of Israel to the Promised Land.

People are silently begging to be led. They want to leave the place where their needs are not met. They want to get to their Promised Land; the place where all their dreams will be realized, and they will reward you if you can get them there using your business as the vehicle. I believe this is a better approach; it puts you in a mode that makes receiving easier and faster.

So, which side of the coin is your business on?

Read 762 times Last modified on Tuesday, 15 March 2016 08:17
Obinna .C. Umenze

He has over 12 years’ experience in both managerial and Advisor positions in 10 key business sectors ( Oil and Gas, Shipping, Logistics, Technology, Security, Commodities, Training, Real Estates, Automobiles and Power sectors in  West Africa.) This has helped him understand and accurately predict what works in business growth and what sustains world class performance.

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