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Published in: on December 31, 2013 at 9:24 am  Leave a Comment  

A Balance in Life

Entrepreneurs are always on the go and want to accomplish great things. Sometimes it behooves them to step back and take account of their life.

The holiday season allows you the opportunity to decompress and look at he big picture.

Many years ago, I attended a week-long leadership program and one thing they taught us that I still remember is that all great leaders need balance in their lives. I believe the lesson is appropriate for Entrepreneurs.

Think of your life as a square having four corners. One corner is you; the others are family, business/career, and community. In order to maintain a perfect square, or balance in life, each corner needs equal time to be devoted to it. You need to take care of yourself and your family. Of course, your business and career are important drivers. Lastly, you need to give back to the community in which you live.

Some Entrepreneurs dedicate a significant amount of time in civic, charitable and community activities. This effort is commendable.

For others, it might make sense to establish some type of focus on giving and sharing. What better time to start than around these holidays. In addition to your individual efforts in this area, you might want to involve your company and employees in community activities. Not only will that inspire your employees, but it will reflect your company’s s desire to share and give in the community that you belong to.

Ravi Patel

www.patelCFOservices.com

Published in: on December 23, 2013 at 10:55 am  Leave a Comment  

Is Doing What You Want OK?

Owning your own business or being your own boss might give you the feeling of being able to do what you want. It is probably that feeling of independence that made you start your business in the first place.

But, is doing what you want okay? It depends.

Entrepreneurs, especially engineers and inventors, love to tinker with refinements to existing products and develop new ideas. It sure is fun to do what you want. Who wants to handle the boring tasks of running a business?

For long-term success, it is critical to do things that you must. Entrepreneurs need to identify the key tasks that must be done and focus on either doing or delegating those before working on projects that they want to do.

Doing what you must comes before doing what you want to do unless they happen to be the same. Neglected must-do items often derail operations and become critical to resolve later in the game. Leaders focus on these first.

In a utopian world, it would be nice to do what you want and it be the same as what you must and what you like doing. That is expecting too much!

Ravi Patel

www.patelCFOservices.com

Published in: on December 17, 2013 at 4:41 am  Leave a Comment  

Having an Open Mind

Similar to a parachute, a mind only works when open. Learning new things definitely requires an open mind.

Entrepreneurs do not know it all. The successful ones always keep on learning or find people who know more than they do. In both cases, Entrepreneurs need to have an open mind. Accepting new ideas through self learning or from others requires willingness to accept thoughts different from yours.

If one makes up his/her mind and refuses to entertain other ideas, learning is not possible. Moreover, the person might be viewing issues from a single perspective, his/hers only, eliminating the possibility of a well-informed decision or conclusion.

Entrepreneurs need to set their ego aside and seek and be open to advice from others. Keep an open mind to learn more and to be more effective in making decisions.

Ravi Patel

www.patelCFOservices.com

 

 

Published in: on December 10, 2013 at 5:39 am  Leave a Comment  
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Liking What You Do

Do you like what you do? If not, does being successful in that endeavor mean much?

Liking what you do applies to all activities – whether it is your business, job, school, home, sports, music or any other pursuit. If one likes and enjoys what he/she is doing, chances are that it will be done well.

Take a child who is forced to learn to play the piano. As long as it is forced upon the child and becomes a chore, the interest and passion of learning to play the piano will be lacking.

Entrepreneurs could learn a valuable lesson. In order to motivate your employees, create jobs and match them to the employees such that they like what they are doing. Make the tasks fun, challenging, interesting and intrinsically rewarding to generate enthusiasm and high productivity.

If employees (for that matter, even owners) like what they do, they will do it well and succeed. Leaders make the mission likeable so the followers are always engaged.

Ravi Patel

www.patelCFOservices.com

 

Published in: on December 3, 2013 at 5:26 am  Leave a Comment  
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