Fighting qualities that build great businesses
By Pavlo Phitidis
For entrepreneurs, adopting the art of fighting is imperative, because building a business is a fight. Recently, I’ve watched as more and more people, and business owners, step up and start fighting for the future they want. Professional fighters know, however, that the act of fighting isn’t a raw spark of rage. To win, fighters must have courage, strategy, tenacity and an insatiable will to succeed. It is the same for entrepreneurs, who need to care about every aspect of their company, be creative at every turn, and remain courageous throughout their business journey.
On this week’s The Money Show with Bruce Whitfield, Ray White stepped in for Bruce, and we dug into the fighting qualities that build a business:
Truth is found in action.
While winning a fight may feel great, you’re not learning anything – you learn far more from failures, than you do from your successes. That’s why, as a growing business, it’s vital to fail fast, and fail small, as these experiences become the guide points for your future decision making. Failures become the forgotten mistakes that teach you how to act, and will drive you closer towards making the right choices, the next time around. A good fighter fights ahead of the present moment, just as every entrepreneur should act beyond the fight before them. Building a business takes time, and a lot of learning.
Win with strategy.
A boxer doesn’t focus on the opponent before them, but rather the title they’re looking to win. Your strategy should do the same, and enable you to focus, not on your competitors, but on your goal of building your business into an asset of value.
Stay in the fight.
A quick knock-out fight is no different to winning that big, once-off deal, but building a successful business takes time and endurance. A quick and easy win is not equal to success - you win, and build your business, by fighting many rounds. Sticking to your industry is key, because the longer you are in it, the better you become at doing what you do. Over time, your knowledge and relationships will deepen, and your ability to make decisions becomes intuitive. Stay in the fight because, over time, you will win.
While your big fights may seem to be with your competitors, or against the environment your business is in, or even with your customers, the most important fight is with yourself. Successful entrepreneurs never stop chasing excellence, stay courageous, and committed to creativity, no matter what situation they find themselves in. It’s important to keep fighting yourself, to be better, do better and know more. Don’t settle in complacency: keep raising the bar for yourself and your business.
Plan and Obsess.
Every fighter needs a battle plan, and every business owner needs one too, because without a plan, your dream and vision will remain just that. Your plan is like the oxygen a boxer needs within his body to get through the round, and obsessing over your business’ unique type of oxygen will invigorate you towards being better at what you do.
Have a bold battle plan.
A bold battle plan begins with big goals. Set a big vision for your business, because that’s where your energy to work towards it will come from. Your battle plan will keep you fighting for tomorrow, in a way that builds your business. Fight only for today, and your business will be an event, not a success.
Get a good team around you.
Successful teams are made up of people who complement each other, by balancing out weaknesses and strengths. Just as a fighter chooses the best coaches they can, hire some of your own. Employ people who are strong in areas you are not, so you can play to your strengths, while they take care of the things that they are strong in.
Do you need help with squaring up for the fight? Aurik can help, as we assist you to build your business into an asset of value.