Business is an interesting puzzle. Similar to a Rubik’s Cube. The Rubik’s Cube was quite popular when it was initially introduced and can still be purchased today. It too is a puzzle. The cube consists of several bright colors including blue, yellow, green and red. The challenge is to move the different sides of the cube around till the colors all match up. Many find it difficult to do. Even frustrating at times. Some find it stress relieving. The cube requires logic and focus. You really must think about what you are wanting to accomplish. Sometimes you’ll find a Rubik’s Cube sitting on a business person’s office desk. It requires strategic thought to be successful in solving the puzzle – much like in business.
Everything in business has more than one perspective. There’s always something more to consider in leading and managing a business. In today’s rapid pace business world, everything can change in a day. That’s why the decisions you make as a CEO, president or business owner need to come from a place of logic, taking any emotion out of it, especially when making important, strategic business deals.
Yet, at the same time, don’t be too rigid in your thinking. Be open to a different perspective. It may lead to further thoughts and discussion. As you gain more perspective and information, your thought process will evolve. Improve your understanding of business.
In business, when you make a business deal there are two strategic reasons you need to always consider before agreeing to move forward. Of course, there are many things to consider when making a business deal; so much to consider regarding the desired outcome of a business deal. This article will focus on two specific strategic points.
1.) Business Profit. You are in business to make a profit. It doesn’t matter how high your sales volume may be IF you are not making the necessary profit. You can sign a contract for a project worth thousands, even millions, of dollars only to later shockingly discover that the profit will not be as significant as originally estimated – or worse, lose money on the business deal. Over the 25+ years of advising CEOs, presidents and business owners across a wide range of industries in the United States, I have witnessed this unfortunate circumstance in business. It can happen due to a variety of reasons including incomplete planning, unintended consequences or something completely out of your control.
Business always involves some level of risk. By taking calculated, strategic risks you can be very successful and profitable.
Without business profit, there are no jobs; there are no future plans for the company; there is no ability to buy business related equipment such as computers or vehicles. Profit impacts everything about your business. When making a business deal, no matter how good or exciting it may seem, always consider the strategic factor of how much profit this will bring to the company. Don’t just think about what can go right; think about what can wrong. Otherwise, it could put you out of business or in serious jeopardy. Think strategic.
2.) Business Stress. If you are going to be in business, then you need to expect that there will be stress. The stress will be often, if not, daily. Stress can be a real business killer. How you handle the stress is key. The more business stress you can handle (and handle well), the more successful you will be – especially as a CEO, president or business owner leading a company. Every day you encounter what can potentially be considered stressful situations or decisions that impact the business on a small or a large scale. It’s how you manage and deal with the stressful moments that makes all the difference. If you handle it well, the stress won’t be a business killer but rather your business will thrive. It’s up to you.
To reduce stress includes knowing how much stress a business deal may potentially cause for you, your employees and your company.
- You may want (and need) the business and the profits, but are you prepared for the stress and the complications it may involve?
- At what cost to your company? Is it worth it?
Sometimes the best business deal is the one you can walk away from.
Yes, you are in business to make a profit. But you are not in business to make a business deal that will continually create stress and cause difficulty, financially or otherwise. Don’t set your business up in a way that will bring on immense levels of stress and confusion. Don’t just take business to take it.
Ever have a business day when you find yourself asking:
- Why am I in business? … What am I doing?
Always think about the strategic reasons why it would be beneficial to make a business deal. As stated earlier, you need to expect some level of stress with managing your business. Determine what do you consider “normal” stress and what is not. Important to know. There will be times of extraordinary stress. That just goes with being a CEO, president or business owner in today’s highly competitive marketplace and ever-changing world. Be prepared for the various levels of stress you will encounter as a business leader.
Always think first in times of high stress; you can panic (if necessary) later.
Always be thinking about how you can best get a deal done.
- How can you sell it?
- How can you make customers or potential customers understand why to buy from you?
- How can you make sure you’re continually creating a business that’s not so stressful you’re constantly questioning yourself every day?
As a CEO, president or business owner, your goal is to:
- Make a profit
- Find ways to reduce your stress
- Never stop prospecting for new business
- Sign one business deal. Then onto the next business deal (contract or agreement). Then the next one after that, etc.
Business is a puzzle, just like the Rubik’s Cube. It’s up to you to put the puzzle together every day for more success and more profit.
To your success!
Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States across a wide range of industries, to MORE success – MORE profit – less stress. Business people trust Howard’s vast business knowledge, practical advice, intuitive insight and objective perspective to solve business problems and issues. Get MORE from your business! Talk business with Howard: 888-738-1855.
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For more on business stress, read Howard Lewinter’s article – Stress: The REAL Business Killer. (https://www.talkbusinesswithhoward.com/stress-the-real-business-killer/)