Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

May 28, 2016

Things Successful People Never Say

By Achim Neumann

Small business owners often have a level of ambition that is higher than the average person on the street. Their drive to succeed sets them apart from their contemporaries, leading some to believe that it has to do with traits that they are born with and not learned.

In fact, it is the opposite that is true, as successful people in business have adopted a vocabulary and accompanying mindset that has helped to propel them to the top. With that in mind, we will review a few phrases below that a winning entrepreneur will never say…

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“I can’t…”

Henry Ford once made the point that having faith or no faith in one’s abilities played a huge role in the end results that a person would achieve.

When an entrepreneur has no confidence in their skill set, it doesn’t matter how much they have learned, as their lack of drive will sabotage them before they have even crossed the starting line.

Things in life are less complicated than people make them out to be, so those that choose to believe in their ability to learn on the fly shouldn’t act too surprised when they find themselves achieving results that they had previously considered to be “impossible”.

“I can do it all on my own”

Entrepreneurs tend to have a super hero complex about them when it comes to getting things done. While many aspects of an enterprise can be completed by one person in the initial stages of a startup, there comes a point when these onerous tasks can bleed away valuable time that should be spent on higher level business activities.

When bookkeeping, processing payroll and marketing become too much to bear, the savvy businessperson should make their first investment in acquiring (an) employee(s).

Whether they take up a cubicle in a physical office or complete their work from a remote location, the workload taken off a beleaguered executive’s desk can free their mind, enabling them to use it to take their business to the next level.

“This issue is not my problem”

When a business owner begins to delegate tasks to employees and subcontractors, it is tempting for them to disassociate themselves from various problems that may occur between departments.

This is a mistake, as many people are non-confrontational; it is foolhardy to assume that they will resolve certain issues on their own.

Whether it is interpersonal problems, or inefficiencies in communication up and down the chain of command, senior management has an important role to play in helping to resolve these issues.

By reviewing incidents and making changes that will ensure that future occurrences of these problems are minimized or eliminated, a productive work environment can be maintained.

Furthermore, when the business owner makes a mistake, it is important that they own up to it in order to set a good example for the people that work under them.

When employees see that there isn’t a two-tier system in place when it comes to playing by the rules, they will be more motivated to work towards the common goals of the organization.

“I’ve always done things this way”

This is a dangerous statement for a successful business person to make in the 21st century. At no point in history has technological and social change occurred so quickly in such a short period of time.

By doing things the way that they have always been done, the flat-footed entrepreneur leave themselves open to getting outflanked and left behind by their competitors in a matter of a few short years.

The business owner that is always learning and innovating stands the best chance of remaining successful in the years and decades to come.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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