Busting Misconceptions in Business

There are many misconceptions that business owners hold. Successful ones challenge these myths and swallow their pride to admit they may have been doing it wrong. Here are some common misconceptions to consider:

1. ‘Always maintain focus’. If you spend your whole day jumping from one task to another, finishing nothing, then you have a problem with focus. But we do also need distractions to boost creativity. If we force ourselves to keep focused on a task until it is finished, we may find that it takes longer to complete. Taking a break actually helps you to RE-focus and increase energy levels. As long as you don’t get too distracted, having ‘less’ focus may benefit you.
2. ‘Don’t let the small stuff stress you’. If you have read my articles for any length of time, you would know I definitely disagree with this one! Although we shouldn’t get stuck on something genuinely unimportant, attention to detail, and being concerned with the seemingly insignificant things, can create great benefits. Customers will notice the extra effort and sometimes stress can increase your effort levels.
3. ‘Always take on a new client’. I have learned the hard way that it is not wise to accept every project or customer that comes your way. If you take on work that is outside your scope, or that you loathe to do, you will soon create a business that you don’t want to be in. Or if you take on more than you can handle, you will gain a reputation for over-promising and under-delivering. Neither scenario is good. Be clear about your capacity to accept extra work and be prepared to decline work when necessary.
4. ‘You need to know how to do it all’. No you don’t. I have yet to meet a business owner who hasn’t started out this way. The ones who stay in business longer than five years soon work out that delegation is the key to success. No-one is an expert on everything. And no-one has infinite hours in the day. Delegation will create more productivity and improve customer satisfaction. It can also create opportunities not possible if you are frantically ‘doing it all’.