26 Aug What does a #MBA educate you about?
1.Avoid attempting to change things over which you have no control.
Allowing myself to let go of things I had no control over was one of the early decisions I had to make in order to ‘crack on.’ It is impossible to mould every circumstance to match your ‘needs’ or to have everyone perceive things the way you ‘want’ them to. Wasting energy attempting to prevent ‘bad things’ from happening; believing you can’sort everything’ alone; refusing to delegate because ‘they can’t do it well’; or making a concerted effort to persuade someone to change.
Allow it to pass.
Develop the ability to prioritise projects, fit them into your schedule, and resist the need to rush from task to task on a first-come, first-served basis. Identifying how to accomplish this (while deferring tasks that do not require immediate attention to another day) was one of the strategies I utilised to advance.
2.Avoid attempting to please everyone.
When interacting with other individuals, it is critical to be transparent and to do what is best for your business. As long as everyone understands the norms and boundaries, they have the option of adhering to them or not.
Many people are unsure of what they want, and you’ll frequently find that some people have an agenda. If you attempt to appease everyone by gratifying these “wants,” you will eventually discover that they alter as rapidly as they are satisfied. Concentrate on your business’s requirements. Do what is just.
3.Eliminate your sense of entitlement
Business investments are never assured; you must be pragmatic, sceptical, and self-aware. Simply because you have invested £100,000 in something and wish for it to succeed (obviously), does not guarantee that it will.
You must complete your homework and be willing to get your hands filthy – you cannot simply sit and wait.
4.Refrain from being impatient
Rome was not constructed in a single day. When investing in a business, the expectation of an immediate return on your investment, a marketing campaign, or fresh ideas adds a layer of pressure that can pull your attention in the wrong direction. Expecting rapid results simply because you want them (or, worse, because you ‘need’ them to survive) is not a viable strategy – this is not X-Factor. Maintain a long game. Put in the effort.
Three years is a reasonable “rule of thumb” for beginning to see a return on investment (which is why banks use it), so line your funds accordingly.
5.Avoid dwelling on errors.
Recognize your errors, be critical of your actions, learn from them, and move on. Endlessly agonising over the if’s and but’s of a negative scenario can sap your vitality and that of those around you.
Your errors can also stem from your “wants”; believing something will work simply because you “desire” it to; overpaying for a business simply because you “want” it (even if the financials don’t add up).
I’m not advocating for you to assume a ‘alpha male’ posture, banging your chest and confronting things full on. Simply be yourself. However, learn to be harsh on yourself when you are avoiding something you should not be. We are aware when we are acting a little sluggish.
6.Do not be afraid of change
Change is unavoidable; therefore, embrace it. Be willing to adapt and forge new paths for your business and for yourself. I’m not claiming that change is always beneficial, but it is constant. Take care of it. Generally, the earlier the better.
7.Do not be afraid of “alone time”
It’s unsurprising that some of the greatest minds were reclusive (Socrates, Newton, Kierkegaard). Determine what you truly desire and what is meaningful to you individually – not what reality television or some Instagram account tells you.
Plot your course of action; do not simply bounce around on emotion and motivated by what everyone ‘else’ believes.
8.Do not be afraid to take the initiative.
Never be afraid to take the initiative — constantly do so! Don’t be the person who falls at the first hurdle, gives up, and begins making excuses… ‘My Sister’s gerbil ate the Ethernet cable and…’
When there is no one holding your hand, everything comes to a halt with you. Experiment and learn by trial and error, work your way around a difficulty, and don’t be afraid to ask’stupid’ questions.
9.Do not be afraid to take calculated risks.
If it adds up, appears plausible, and you’ve been brutally candid about all the numbers, then go for it!
The advantage of becoming involved while you’re younger is that you lack a lifetime of ‘worldly knowledge or experience’ and hence cannot constantly – and frequently futilely – study the ins and outs of every circumstance in an attempt to avoid risk. There comes a moment when you’ve gathered sufficient information and simply need to move on.
10.Do not be afraid of not being part of the “in” crowd.
Avoid attempting to please others; instead, stand by your values regardless of who gets on your case. Have confidence in yourself and the ability to be yourself. It is true that “those who matter do not mind; those who mind do not matter.” It is preferable to state that you are unconcerned, uninterested, or unconvinced than to feign attention.
Oh, and resist the temptation to allow the “necessary evils” of business, education, or life dictate your actions.
Running your own business is an exciting prospect; it’s important to have the proper mindset so that you don’t bounce around like an emotional wreck, burning bridges because ‘you’re having a bad day.’ Put an end to your dramatics. Take a step back, examine the situation logically, make a decision, then proceed.
When you know what you truly want and value, you can find your abilities and passions and apply them to your work. Recognize the things that are impeding your progress and let them go. More than anyone else, be harsh with yourself!
Making a choice
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