The rules of business have changed in the past 18 months.
The rules of success have not.
I learned years ago that success had a recipe, and the ingredients to the recipe never change at its foundation. No matter what type of business you’re in, where you’re at or what the economic conditions are, the foundational recipe for success does not change. Some of the ingredients include written goals, priority management; focus; clarity; mission; vision, and purpose.
However, at the core of the recipe are what I have dubbed The Bias Alternatives. The four biases are critical for any businessperson, entrepreneur, or executive to have to be successful and reach their goals in this or any challenging economy.
BIAS #1: A Bias towards ACTION. We must always be moving forward and at full speed. Yes, you will make mistakes, but you will learn from them if you’re smart. You always need plans and strategies, but In today’s ultra-fast-paced business universe, if you plan too long, the world will leave you in its wake. It’s full speed ahead. Half fast is not a winning strategy.
BIAS #2: A Bias towards EFFECTIVENESS. Action alone doesn’t work unless you have clear metrics. You must be absolutely clear about what your objective and goals are and define them with metrics. It is imperative to know what good looks like clearly.
BIAS #3: A Bias towards EFFICIENCY. When you have a clear plan of action tied to specific metrics, you must attack that plan with the highest level of efficiency. You must implement as part of your plan a system of priority management. This plan will protect you from wasting time on low consequence tasks. It will also save you from wasting money on activities, products, and people that aren’t meeting your goals and achieving your clear metrics.
BIAS #4: A Bias towards SUSTAINABILITY. Train yourself to never invest in short-term solutions. Instead, always do and create products, businesses, and reputations that will last generations.
Remember, a great business leader in today’s world adapts and builds products and teams that persevere for decades. They utilize the latest technologies and understand the changing consumer behavior. They always have an ear for the market and new opportunities. However, both the old and the emerging superstars of business always have a secret weapon. It is the weapon of knowledge, passed down through the millennia, from entrepreneur to entrepreneur. These are the business owners, entrepreneurs, and executives who acknowledge and honor the secrets of success and build strong foundations. These are the leaders who have an extreme bias for Action, Effectiveness, Efficiency, and Sustainability. These are the ones thumbing their nose at the thought of just surviving. Instead, their mindset is one of potential and possibilities no matter what the world throws at them.