Small Business Talk
The Podcast to Grow your Business Faster
Why Masterminds Don't Work with Cathy Smith and Bodo Frost
Show Notes
Background
Bodo is an experienced business / success coach, a change leader, a book author and a business change and ICT project management consultant with over 30 years of experience in the industry. As a business coach, Bodo have developed a simple 3-Step blueprint called PLAN.DO.LIVE that puts your business on fire without burning down your life. Some of his clients have quadrupled their revenue within the first 12 months of engagement, or have achieved their annual goals already after 8 months.
As a Project Management Consultant and Business Coach, Bodo will help you doing the right project at the right time for the right reasons with the right resources and delivering it right at the first time, so that you have more time to enjoy a successful Work-Life Balance,
Personal Development Matters More
Business development masterminds are a great thing, but why don’t they work? It’s the same concept with Masterminds aren’t great. You get lots of nuggets, special information and things and ideas, what you could do to improve your business. That’s great. Then you go away after the mastermind, after that meeting you had a coffee or whatever it is. You, you go back to your business. Then the daily grind gets you and then you forget. What was it? You remember the nugget but you forgot how to do it and that’s it. Then you go to another next mastermind and the same thing will happen again. The daily grind catches you and your business is just running somewhere – you think you are in control but you are not because nothing happens.
Implementation is the Key
When you get great ideas, you need to implement it. When you don’t, you will get frustrated because your business is going nowhere. The daily grind will catch up with you and you will find yourself at the start again. By implementing these ideas, you also need to remember that you might encounter problems along the way so do not be swayed at the first sign of trouble. Just keep doing what you are doing and do not wait for next time.
Shiny Object Syndrome
The ideas can be great and effective but it might not what your business need at all. Shiny object syndrome is a condition on which people will try to get the idea or process that they think will work for them too. Yes, it might be great idea at the time but the question is, it is what you really want to do? Will it allow you to achieve what you want for your business? Does it fit to your business in the first place?
Please stop what you are doing. Just because everybody else is doing it means you should also be doing it. Do not be pressured to do the same thing because they’ve already got it. Think about your business and analyse if it will move your business forward. Do not be tempted to do SOS syndrome or shiny object syndrome.
Break Down Your Big Goals to Smaller Ones
What is your plan? What is your objective? And then break that one down into actionable items.
It is important that you have a goal or objection but do not forget to get ideas on how you are going to achieve it. How are you going to do that? You can do this or you can do that but the important thing is to break down this big goal into little milestone. That way, it’s easier to chew the chunks, right? One bite at a time.
Do small actions that you can do within a couple of minutes or 15 minutes. That way, you will not be overwhelmed with the entire idea. It can be tiring to sit and develop a growth strategy for an entire day than just do small goals daily with the limited time allocation. It will not put pressure on you.
Make a Plan
The problem is that most business owners don’t take the time to do the planning. Take the time to plan it out. If you come across a great marketing idea, think carefully. What does it do to my objectives, to my goals? How does it help and what do I need to do? And plan it out. Take the time. Because if you start doing it without a plan, as the saying goes, if you fail to plan, plan to fail, so you need to plan anyway. So why don’t you plan for the success side of things? So plan for the actions that you need to do. What do I need to do to implement this thing? And what could get, what could go wrong? That’s the next thing.
Find out what you really want to achieve with that new thing that nugget, that gold nugget and then breakdown into little action steps. Then figure out what you need to do and then implement it. If you have a team, just delegate it your team. Coordinate the whole thing. That’s project management 101.
Remember to be great you must start. Pick one tip from today’s episode take action and implement it.
Contact
Why Masterminds Don't Work with Cathy Smith and Bodo Frost
Listen to Episode 189 of Small Business Talk for the full details.
Check out Small Business Talk on Youtube for videos and more.
