Workplace
How to Make YOU Your Greatest Assest
Develop the attributes of successful practice owners
What often prevents small businesses from growing? In my work with clients over the years, I can say unequivocally it's because most owners get in their own way. We have the best of intentions, and then fall flat on our faces due to our own weaknesses - ranging from having our head in the sand to self-sabotage to having an attitude of entitlement.
In "Growing Your Independent Meeting Practice" on p. 79, I point out how managing yourself is an important ingredient in growing your business. This column picks up on that theme, and identifies some of the key attributes of successful practice owners.
Be accountable. This is a big issue in the workplace today, and it is essential that practice owners understand its ramifications. We've increasingly become a blame-oriented society, where people are reluctant to take responsibility for what goes wrong. Professionals who are accountable for their actions are perceived to be more honest, reliable, and trustworthy by their clients and co-workers.
Tip: Observe yourself over a period of a week or so. Are you quick to make excuses or blame others when things don't go well? Or do you step up to the plate and own up to missteps? If you need to improve in this area, you can make changes immediately.
Have a plan. You don't need to create a full-blown business plan every year, but you'll find that working from a plan helps you stretch and make decisions that will advance your business a bit further.
Tip: Take three to five measurements, such as revenue, cash in the bank, or profits, and monitor these on a regular basis. You'll be pleasantly surprised to see how the numbers go up when you're paying closer attention.
Manage your expectations. Set realistic expectations, not ones that are so lofty that they're virtually out of reach. I had a client who always doubled her revenue goal when she did her projections for the coming year. There had never been a year when revenue growth was more than 18 percent, so she was setting herself up for disappointment by setting unrealistically high goals.
Tip: I'm not suggesting that we lowball our goals, rather that we take a realistic approach. If you're not sure if a particular goal is reasonable, ask a colleague, your accountant, or business consultant for feedback.
Acknowledge your accomplishments. This may seem counterintuitive, but weaker performers tend to embellish accomplishments to fit any occasion. Superior performers, on the other hand, tend to breeze by their accomplishments. They are so driven that they go straight to what needs improvement.
Tip: I often suggest that business owners create an "accomplishment journal." Every day, record one accomplishment in a desk calendar. Over time, you'll see how the little things add up and put the big accomplishments into perspective.
Solicit feedback. Do you know what your clients think of you? If you're not sure, then it's time to ask for feedback. Clients and co-workers can provide interesting insights when we're open to them.
Tip: Whether you're a solo practitioner or an association planner, you can get a reality check by working with a coach or consultant. This person can provide support and guidance. Moreover, s/he can solicit feedback from others, removing you from asking directly.
By taking the time to manage yourself - and committing to becoming a stronger performer - you'll see a correlation with better financial results and more business opportunities. Plus, you will increase the value of your greatest asset … you.

