Life Lessons In This Message

We as humans generally become more risk adverse as we mature. Why do you suppose that happens? I believe there are two answers to that question. With age one has less time to recover from a set back, financial or otherwise. The second is that we have become conditioned to react from certain events because we have been there before. I will share some of what I have learned from both my successes and my failures. Making sound decisions should be a process whether you are young or old. This is where the study and reading part plays a role. Knowledge can be learned through study, while wisdom for the most part is earned.
Quite simply it shapes up this way. I have been broke twice in my life and lived to tell about it. Yes, this builds character but it should not have to be that way. Both set backs were a result of bad decisions. In both instances I was owner of bricks and mortar businesses. Yes industry consolidations played a large role in the failures. But, to be perfectly honest some impulsive decisions in my personal life played a big part as well. You will notice on my Linkedin Profile that my education is a Masters In Common Sense. I can honestly say I gained this degree the hard way. I grew up with a strong family background that included decency and work ethic. The common belief in our home was this is a land of opportunity and you have loads of talent. I did not formally go to university however I was continually taking courses in business as well as attending personal development workshops. I was heavily engaged in personal development long before it became in vogue. Being an ADHD I knew I must invest time in this area, as it would help me be more cognitive of my decisions. I believed it would help me make more rational decisions. For the most part it did. ADHD's are emotionally charged and running with your heart is not always the best practice. This life course has brought me to where I am today as a coach to business owners. I have learned that many entrepreneurs get so emotionally involved it often clouds the decisions they must make.
One of life's toughest experiences came during a period when I owned a small business with a staff of 12. It was a successful business for 9 years followed by 2 years of a living hell. A consolidation in the industry coupled with a large life style left myself and the business with little wiggle room during a down turn in the economy. I lost everything including my pride. I managed to hold on to our house with the help of family. Through these times I lost my self-esteem and confidence. I hit rock bottom. I wondered. Could things ever get better? I can assure you they can.
This is where the lesson part comes in. I felt I always took the responsibility for my actions. For the most part that is true but it is easy to blame external forces. I also blamed these external forces as a form of personal denial. Taking responsibility for your actions is only half of what is required for you to move on after such events. One must make changes in how we approach the next steps. More of the same way of doing things will produce the same results. You need to understand why things went wrong. Were these events things you had control over? If that is the case it's time for some real soul-searching and understanding of yourself. Ask yourself. Is a change required of your habits and the way you do things? You have to peel back the layers of the onion and see what's in the middle. Often there is a smell associated with this exercise. It takes courage to look that deeply inside ones inner self. I did it and I moved forward.
Lessons can also be learned from our successes. I believe time should be taken to reflect and learn from our success. It's only natural to take success for granted. Success and victory feel great and do not carry the anguish and pain that comes from failure. You should take a step back and look at what took place to reach your goal. Was there pain, or were there roadblocks that you over came? What I have learned from my success as a businessperson is that I work well with people. I love to grow business and relationships. I am good at letting staff be the best they can be and to allow them to learn from their mistakes and to grow. What I am not good at is too much structure and repetitive work. I hate being managed. I need things to be fresh and engaging. I like strategic thinking that is solution based. I like projects because they have a beginning and an end. I ask many of my clients. Whats your end game with your company? What's your exit strategy? Many do not have an exit strategy. You should build your life or business plan around that outcome. That was one of my toughest lessons in business. I had an opportunity to sell my business at it's height. The irony is that three years later the business collapsed. You can not begin to appreciate the pain associated with that decision. But I learned from that.
Yes the toughest lessons come from failure. It is through your failures that you are able to have bigger success in the future. Success is rarely easy. You see, even in success we often say to our selves "I would do it a little differently next time".