“The pessimist complains about the wind; the optimist expects it to change;  the realist adjusts the sails.” William Arthur Ward

I was reminded of this brilliant principle last week when I spoke to one of  my business coaching clients. There can be no doubt that we are living in  interesting times…. the global financial crisis has impacted overall spending  and consumer sentiment – and this has hurt many small businesses around the  country. It’s no good hoping that circumstances will change – in order to  survive we all need to dig deep and find creative ways to work smarter not  harder.

Jim Collins, in his book, “Good to Great,” talks about this very interesting  paradox that he calls “The Stockdale Principle”. According to Collins, “you have  to be realistic about your current situation and yet, stay optimistic about the  future”.

General Stockdale was the highest ranking American prisoner of war in Hanoi,  Vietnam. Over the years he began to notice an interesting phenomenon – optimism  could in fact be a liability. His fellow prisoners (who were the eternal  optimists) constantly set themselves up for disappointment. They set huge  milestones – “we will be rescued by Christmas” – but those milestones came and  went year after year and with it… their will to live.

Conversely, the prisoners who looked at the painful day-to-day reality they  were in and channeled their energies to the right places survived. This is not  to say that the second group were pessimists but rather realists that maintained  an unwavering faith in the end game, and a commitment to survive despite the  brutal fact of their incarceration and torture over a period of years.

Here’s how Stockdale put it in his own words:
“I never lost faith in the  end of the story. I never doubted not only that I would get out, but also that I  would prevail in the end and turn the experience into the defining event of my  life, which, in retrospect, I would not trade.”

How many of us would look back on seven years of detention – with regular  torture, dismal living conditions and an uncertain future – as an experience we  would not trade? Do you regard the greatest obstacles or challenges in your life  as the defining moment that shaped who you are today or do you choose to look at  them as an excuse or reason why you have not achieved more?

Have you ever sat back and thought how this distinction between optimism  versus reality could apply to your business/career or your life in general?  Where in your life are you ignoring reality in favour of being optimistic and  missing a crucial opportunity to take action?

Take for example my business coaching client that I mentioned above. She has  an employee who doesn’t take responsibility for her actions, doesn’t pay  attention to details and is often defensive and reluctant to take direction and  feedback. This employee is negatively impacting the entire work environment as  everyone gets caught up in the drama of it all. My client doesn’t want to let  the employee go and is resisting doing what she knows that she must. She hopes  that it will somehow improve without any action on her part – she is now  learning the distinction between reality and optimism. When she sees the  difference for what it is, then and only then, will she become decisive and take  action.

Another area where it’s easy to be blinded by optimism is in the financial  arena. Do you have detailed financial reports, KPIs and cashflow forecasts in  place to drive your decision making or are you simply relying on your optimism  instead of reality? Failure to effectively plan in this area (especially in  these tough times) could lead to a cash crunch and the demise of your  business.

Take a moment today to examine your relationship to optimism, pessimism and  realism. Success belongs to those who operate from both sides of the Stockdale  Paradox. The key is balance – knowing when to accept reality and take  appropriate action AND never losing faith in the end of the story. If you can  walk this delicate line of balance and responsibility, you increase your odds of  making good decisions and this will lead to your inevitable success and  breakthrough results.

In life, we will all experience setbacks, disappointments, loss and  challenges. What separates successful people from the rest is how you deal with  those inevitable struggles. This is a very important distinction and it is what  divides the winners from the losers. You must never confuse faith that you will  prevail in the end – which is something that you can never afford to lose sight  of – with the discipline to confront the brutal facts and reality of your  current situation, whatever that might be.

Article Source: http://EzineArticles.com/2884021

If you are like most business owners, you went into business because you are  passionate about AND good at WHAT you do… and you wanted the autonomy and  financial freedom of owning your own business. You were probably thinking, “as  long as I am good at what I do, how hard can it be to make a decent living and  support my family?” And you have probably discovered that it is actually harder  than you thought.

Here’s the problem…

You may be one of the 97% of small business owners who discover that although  you work incredibly hard and your sales seem to be increasing each month, you  have little to show for it financially. Perhaps you are already doing well but  you are unsure how to accelerate your results or expand your business? Or you  may simply be wondering why you are struggling to pay the bills lately even  though your accountant says that you are making a good “profit”.

One of the biggest problems is that business owners often convince themselves  that being busy is what business is all about. And you tell yourself “as long as  I work hard and do my best, there is not much else that I can do”. Everyone  knows that we’re supposed to work smarter, not harder, but the challenge lies in  knowing HOW to do that. And in the meantime, you may have found it just seems  easier to do everything…just in case it’s important, or makes a  difference.

So, if you’re supposed to do less, HOW do you figure out what is critical or  what will have the biggest impact?

In a typical 8-9 hour day, what percentage of your time and effort has a  positive and tangible impact on your bottom line? Do you strategically plan what  you will focus your time on or do you just try to cover everything on your to-do  list plus whatever emergencies pop up? The bottom line is this, if you cannot  read and understand your financials, it is difficult for you to say for sure WHY  your business is not as successful as you would like it to be. You may think it  is due to the fact that you don’t have enough customers or sales but you could  be missing the point completely. In fact, most of the businesses don’t need more  customers, they need more cash flow. And cash flow issues can often be fixed  without spending a dime on marketing.

And here’s the best part… all of the answers you need are sitting right  there in YOUR financial statements. You just need to learn how to unlock the  insights and use them to your advantage.

Every day that you put off learning how to unlock the insights in your  financials means that you are wasting at least 2-3 hours a day on tasks that are  not improving your bottom line. In fact, it could be the sole reason you are not  as successful as you would like to be.

This bad habit you have developed -of working way too hard and assuming that  success is somehow linked to the amount (not the quality) of work, will take  time to break.

Unfortunately, there are no quick fixes when it comes to breaking or  establishing new habits. In the 1960’s a highly regarded plastic surgeon, Dr.  Maxwell Maltz discovered that it took 21 days for amputees to cease feeling  phantom sensations in their amputated limb. From further observations and  significant research he established that it takes 21 days to create a new habit.  This part of the brain, the limbic system, is a slow learner.

Brain circuits take engrams (“memory traces”) and produce neuro-connections  and neuro-pathways only if they are bombarded with new information for 21 days  in a row. This means that our brain does not accept new data or information for  a change of habit unless it is repeated each day (without fail) for at least 21  days. Changing habits (whether positive or negative) can be done, but it takes  time and consistent effort.

Do yourself a favour and identify just one or two steps that you can take  each day that will enable you understand what your financial statements are  trying to tell you. Make a plan on paper – specific decisions and actions that  you can take to move forward in this aspect every single day for the next month.  Read a book, speak to your accountant, watch a webinar or spend some time  reviewing your statements and comparing the results to last year.

And remember to track your progress each day and find an objective person  outside of your business to hold you accountable to your plan, actions and  desired results.

Article Source: http://EzineArticles.com/6047921

Rhondalynn Korolak, Author of Financial Foreplay® and On The Shoulders of Giants

Life isn’t always easy – there can be no question about that. It’s unpredictable and it’s often hard to make sense of what happens. Some of the events in our journey end up being nothing more than minor irritants, while others are more like being hit by a Mack truck at 200 kph.

Regardless – we have to play the hand we are dealt.

Part of the process of coming to terms with whatever occurs in your life is to find a way to make sense of it. If science indicates that objective reality doesn’t actually exist, it is very much up to us to create a reality that helps us move on and find some meaning. As W Mitchell so accurately points out, ‘It’s not what happens to you, it’s what you do about it that matters’.

I like to think of it as choosing to ‘make chicken soup out of chicken shit’. And it is often in these times of desperation or perspiration that we accomplish our greatest achievements. We play the hand that we have been dealt and in so doing we stretch beyond the finite boundaries of probability and skill into the realm of possibility and inspiration.

For Christopher Reeve a random riding accident changed his life. Everything he was in terms of his career and how people perceived him vanished the instant he hit the ground. And yet he was able to muster his resources and master his own mind so as to find a reason to carry on. I’m sure becoming paralysed was not part of his life plan. I’m sure there must have been times that he was angry and bitter, but these feelings obviously didn’t consume him.

The simple truth is that Christopher Reeves found himself in a wheelchair at just 43 years old. Nothing could be done to change that. There was no way to wind back the clock and no way to repair the damage. His condition was permanent. But his state of mind and any negative emotions he felt were temporary and 100% within his control. He had two options: (1) let the event consume his life and extinguish his spirit or (2) accept his condition and make the best use of his time and influence to advance science in the hope that someday others with spinal cord injuries might walk again. In many ways, he became more of a superhero after his accident than he had previously been in his film roles because he created a vision and a purpose that was bigger than the event that changed his life.

He accepted the cards he was dealt in the game of life and he played with the courage, determination and strength of character of a superhero. Perhaps Christopher himself said it best, ‘I think a hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles. They are the real heroes, and so are the families and friends who have stood by them.’

Perhaps today, January 5th, 2011…….yes TODAY – is the perfect time for us to all stand back and celebrate the superhero within ourselves and others. If we choose to play the hand we have been dealt to the best of our ability…I think we will all look back [someday] and agree that the “game” was worthwhile.

Rhondalynn Korolak, Author ofFinancial Foreplay® and On The Shoulders of Giants

We live in a world with a million possible distractions, pressures, emergencies and interruptions, how can we stay possibly stay focused (on our goals) and sane?

There are always going to be several things constantly competing for my your time – marketing campaigns to design, team members to manage, customers to respond to, business opportunities to explore, issues to follow up, personal commitments etc.  However, whenever you try to work on too many things at the same time, inevitably none of them ever gets done.

To assist my clients in staying on track and keeping things simple, I developed the following list of 5 simple techniques/questions to put things into perspective. When in doubt – check the list for guidance.

Read More

Rhondalynn Korolak, Author of "Financial Foreplay®" and "On The Shoulders of Giants

It has been over 50,000 since human beings lived in caves.  All those years ago, life was pretty much about survival – each morning our ancestors would emerge from their caves and scan the horizon for imminent danger.   Although things have changed a lot in our external environment in the last few thousand years, in many ways, the wiring in our brains has not.  In fact, 90% of what you and I do on a day to day basis is still based on that ancient wiring and survival mentality and it is precisely this legacy that needs to be re-directed to prevent self sabotage from holding you back, personally and professionally.

You see our brains are wired to spot and avoid danger.

Even though the danger may not be “life or death”, we see this dynamic play out in our work environments almost every day.  For every daring and outlandish new idea that is proposed by one hopeful soul, there will be a long list of sceptical colleagues who are willing to offer 20 reasons why the idea might fail or cause harm.

So, how does this play out exactly?

Read More