Episode 6 - Standing Out from Your Competition
Episode 4 - 8 Steps Local Small Business Owners Can Take to Make $100,000 in Profit?

Is Your Ego Getting in the Way of Your Business’s Success?

 

Welcome to episode 5.  Today we are going to talk about our Ego and how it can get in the way of our Business’s success. We will discuss 5 ways it does.

 





 

Here are the Show Notes from the Episode: 

**keep in mind that show notes are raw and only highlight what is in the episode. Listen to the show for the full content**

 

Local Small Business CoachIs Your Ego Getting in the Way of Your Success?

I’m sure some of you cringed when I said it that way.  I know I would have.  My thought would have been some thing like, I don’t ever let my ego get in the way, you don’t know what you are talking about.

The problem is, when I don't check my ego at the door, it absolutely has cost me money in all of my businesses.

Let’s face it, many of us are good at what we do, and when we are good at what we do we tend to take a lot of crap from folks that we think we know a lot. I know I do. However, I always respond that it isn’t that I think I know it all, I just happen to know a lot.

This thinking however, causes us to be over confident at times and therefore we don’t see things we should.

It might seem wrong to think that your Ego is causing your business to fail. Now, it might not be causing it to fail, but it might be causing your business not to grow or to be losing sales or profits.

 

Let’s talk about 5 ways in which our Ego can get in the way of our business’s success

 

  1. No one knows our business like we know our business
    1. This is probably the #1 thing that kills us.
    2. Since we don’t think anyone knows it, we don’t seek outnor are we open to feedback from others
    3. We don’t want to hear other people’s ideas

My Example – During Depot and being seen as the resident expert at various times and since I always felt I’d been there done that I wasn’t always open to new rehashed ideas. Reality I should have at least seen if it was improved before dismissing

 

  1. We treat our business like our child and we are very protected
    1. Example of how we go into mama and papa bear protective mode if someone attacks your Business vs listening to the feedback.
    2. This could be feedback on our sales, our service or our people

My Example:  I found I really did this when it came to my team, my people. I always prided myself in having the best folks. Hiring the best, training, developing, you name it. Problem is, they weren’t perfect but I was a very protective momma.  Funny thing is, I always saw their flaws but always got lost in the argument that they were still better than others and the problem was that didn’t matter.

 

  1. Because we live it day in and day out we know every little thing in our business
    1. Like we discussed the last couple of episodes we are often taking educated guess
    2. But we don’t we are too busy working in the business to step back and look with fresh eyes
    3. Must do a 30k look

My Example – Because I lived it, I thought I knew my numbers. So I'd toss out something only to later go research later to find out I was so far off.

 

  1. We feel we know enough to get by and don’t
    1. Yes we are good at what we do but we are what is called unconscious incompetents. Basically we don’t know what we don’t know.
    2. Must seek out new knowledge

training for local small business ownersMy Example: This one always seems to open my eyes when I’m studying others and their success. They will say something or do something and I’m flabbergasted that I had never thought of that before. Such a no brainier.

 

  1. We are so busy making a living, we don’t take the time to grow as a leader and business owner
    1. It is one thing to find ways to grow your business it is another to grow as a leader and as a person
    2. Even if you have no employees you are still a leader. You are a leader of your company and a leader in the community
    3. You owe it to your company to get be a better person with more business knowledge so you can better serve your clients and customers

My Example – I’m a firm believer that I can learn from other people’s mistakes and failures. I think this has played a huge role in my successes.  I watch others and when I see them try something that works, I’m taking notes. When they do something that blows up in their face I also take a note.  I did this at Depot and in my small businesses.

 

I don’t need to make that failure to learn I just need to learn from the failure.

If you don’t like the word ego, then use the word pride. I don’t care, The challenge I have for you is To ask yourself if you are your businesses roadblock?

Are you open to feedback?

Are you seeking out knowledge to improve your business acumen?

Are you learning what successful businesses leaders do to be successful

With all that said, I do know you care. How? You are listening to podcasts. I assume I’m not the only one you are listening to either.  Your listening to learn. To grow.  That is a huge step.

 

If I was to offer a list of top 5 business advice, this would be one of them. Take the time to learn all you can to be a better business owner. How to run a better business. How to increase your profits. How to boost your sales, how to improve your processes and how to develop stronger teams.

 

There is a reason this is my tag line over at my TrainingForLocalSmallBusinessOwners.com website. These 4 areas are crucial areas to constantly be working and improving in.

So my challenge for you after this podcast is to look in the mirror. Be honest with yourself. Is your ego getting in the way of your businesses success?

Tammy

 

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Have a Question You Want Asked on Air?  Shoot Me Your Question

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HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at Tammy@LocalSmallBusinessCoach.com

Episode Show Notes: Episode 5 – Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business WebsiteStartALocalSmallBusiness.com

 

My Recommended Bookkeeping Program for Local Small Business Owners: Freshbooks Link

Why? Helps you invoice quicker and more importantly, get paid quicker. Let’s you know when your clients have opened the email and they even help send reminders. Clients / customers can pay right from their phone or computer. Give it a Try: Freshbooks

 

**Freshbooks is an affiliate link. This costs you nothing. I only recommend due to how much folks have loved it. I am paid a small commission but trust me. Even I use it. Try it for free for 30 days and see if you don’t love it too![/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]