First Law of Prosperity for Small Business Owners- The first law of prosperity is to stop trying to be prosperous.
It’s a common adage that, that which you chase runs away, and that which you let come, stays.
It’s the same with prosperity.
When prosperity is your sole focus, greed sets in.
Though greed in the short term helps stoke the fire of your ambition, it will eventually lead you to self sabotage your prosperity.
This often happen in a Madrid of ways.
You can become so overconfident and reckless in your decision making that you destroy your reputation or wealth.
Your greed can lead you to destroy a vital business relationship which causes your business to fail because you pushed to hard.
Greed seems like your friend at first, but it can like a bad friend lead you down the wrong road.
Greed eventually erodes prosperity like cancer eventually eroded a healthy body.
Greed leads to desperation and desperation repels people like a bug repellent.
A prosperous mindset is not based on greed but love.
I didn’t always understand this but as a small business owner your revenue is directly proportional to how much you love.
The more you love other people, the more you will make.
And I don’t mean love as the simple platitudes people sometimes say to each other as social lubrications.
Like the easy “Love ya” we say to each other when we leave the house.
But acts of love.
What deeds are you doing to love other people?
When you merge this way of thinking with how you serve your customers you can become a small business dynamo.
Prosperity is an automatic by-product of this way of thinking .
It’s not the goal.
When you embrace love as your primary driving force, you will have ideas come into your mind to benefit your customers like never before.
When you stop thinking solely about what you can get out of a transaction and more about what they get out of a transaction.
When your give is greater than your take, your business can’t help but grow, as you will be creating customers for life.
This change of perspective will be like nuclear reactor in your business.
Second Law of Prosperity for Business Owners- The Right Customer is Always right
This law has two different dimensions to it.
One is learning how to find and serve the right customer.
And the other is treating the right customer right.
(Link to customer always right page)
Every customer is not right for your business.
There are many failed businesses that have tried to serve every customer.
They were lured by the prospect of untold riches.
But without realizing it, they usually waste a tremendous amount of resources on customers that just waste their time, energy, and joy.
Sometimes when you try to please everyone, you end up pleading no one.
Your business becomes a proverbial “meh”, flavorless, nothing to get excited about.
But when you seek to please Your customers, the customers that love what you do, then these customers are in a sense always right.
Because they only want to see your business succeed.
You don’t want to take advice from customers that are not invested in your success, or do not benefit from your success.
Customers without skin in the game, are like one-night stand relationships, why would you let them dictate your life let alone your business with their opinion?
Learn to love the customers that love you back.
When you know who the customers are that love your business you can’t help but want to make them happy.
Third Law of Prosperity for Small Business Owners- Be ready and Prepared for change.
And I don’t mean the type of change that you carry in your pockets.
Change is inevitable.
If change was foreseeable then it ceases to be change, because you would be able to be ready for it.
But change is often unforeseeable, which is why when it occurs it usually feels like a 2 x 4 was just applied across your face.
As a small business owner, the key to successfully navigating change is to remain calm.
Even when things feel like they are falling away all around you, you must remain calm.
If you lose it, you can risk losing your employees, suppliers, and other stakeholders who will realize that you are not someone they can depend on.
And the key to remaining calm is to remember that “this too will pass”.
The good thing about change is things always change. The bad thing about change is things always change.
Remember that the bad days will change also, and though it’s sometimes sound cliche, “you only have one way to go, and that’s up.
Fourth Law of Prosperity for Small Business Owners- Think Multiple Step Ahead
Never think of just one decision at a time.
It’s pretty easy as a small business owner to get caught up in the revolving door of putting out fires.
Everyday there is a new problem, or new crisis that needs to be handled.
And often many small business owners get tunnel vision, they focus solely on the issue at hand and not how it can affect so many other variables in your business.
Especially when it deals with money.
Some say money can be the root of all evil, that may or not be true, but Money is often the root of all problems.
I’m exaggerating a bit, but lack of money definitely makes life more difficult.
But as a small business owner you can’t let your lack of funds box you into only making short term decisions, and forgetting about your long term decisions.
Learning how to save for a rainy day helps makes these short and long term decisions much easier.
Fifth Law of Prosperity for Small Business Owners- Stay Open-Minded
Oftentimes when you are in a leadership position you can overtime develop a form of “leadership institutionalization”.
This is where you become unable to listen to effective feedback or new ideas.
Basically, you begin to think your you know what doesn’t stink.
You fall into a trap that many successful people fall into.
They think because they were right a number of times, then subconsciously they begin to believe they are always right.
But it only takes being wrong once to lose everything.
Which is what usually happens to many a failed business owner.
They were not open to ideas and perspectives from other people.
They didn’t head their mentors if they had one, or good employees if they hadn’t run them away.
Staying open minded to they people and situations that are around you will help you keep your business above water when bad times do come.