Don't let the past hold you back

If our experiences shape who we are...

...Then they will also influence the way we choose to set up and run our businesses. You can gain brilliant insights from understanding your decision making method (or lack of) and being able to associate where the comes from.

It can be a really complex process, but here are just 3 factors that might help you to understand your response process. I might not be a psychologist, but there are definitely a few patterns that emerge amongst business owners.

1- Building a stronger sense of intuition

When you don't have enough information to make a definitive decision, you often lean towards a "gut feeling" or intuition. This natural "risk indicator" can either be extremely sensitive, or completely misguided and unsure. Often times, it is moulded by previous events where perhaps the decision is similar, or the outcome was clearly positive/negative.

It's worth taking some time to understand why you feel the way that you do, and consider how you can create a stronger, more reliable sense of intuition, as well as respecting those feelings, so you're not always trying to override them.

What you want to avoid is making impulsive decisions, or procrastinating for so long that you don't make a decision at all.

One sure fire way of deciding in your next step is right for the business, is to get a report of your financial situation (there are 4 different types which I will discuss next week in my content)

2 - Shaping your personality

This is probably not surprising - our personalities are impacted by our experiences and interactions with those around us.

Bitter partnerships, unsettled childhoods, dishonest suppliers- there'll all here, quietly shaping our personality over time and influencing how we show up to our business.

If you find yourself faced with a decision that goes against your natural inclinations, values, or personality, take time out to assess why, and what action needs to be taken.

When you identify your values early on, you make it much easier to set boundaries and understand what might trigger you.

Sometimes, however, our risk adverse nature (as an example) might be holding us back from achieving our fullest potential, or from our business becoming more successful. Consider whether the data you have for your business supports or disproves your inclination, and decide whether you need to discuss this with an impartial 3rd party to reach a happy compromise.

You don't want your past to choke out the positive future that you've been working towards!

3 - Remembering those past experiences

We don't mean "replay the situation over and over until you're feeling traumatised or low"! It's really worth remembering how you overcame certain challenges or difficulties in the past. Not only to learn from it, but to build trust in yourself, your abilities and strengthen your intuition.

It might be to create an opportunity in which to learn from a previously "poor" decision and reflect on the personal growth you've made over time, or it might be reflecting on those experiences to help you make the same positive decision.

Either way, it's worth remembering that facts or memories can be distorted over time - either because you're struggling to remember the exact actions or outcome, or because the outcome itself, and how you moved past the event, has changed your perception of the situation and how it impacted you.

Each of these factors can, of course, have a natural impact on the other. For example, an experience that shapes your personality might be an experience that you reflect on from time to time. The negative outcome from being "burnt" might then sharpen your intuition, leading you to make better/faster/more thoughtful decisions in the future. Just as an example.

How does relate to your bookkeeping and business finances?

Quite simply, whenever you struggle for clarity, it's worth coming back to the figures, and understanding whether the financial health of your business can allow you to take risks, or requires you to play it safe.

By having a sounding board who understands the business as well as you do, or can share some additional insights, you strength your ability to move things forward and make sensible decisions about the future.

You don't have to do this all on your own.

If your business finances have been stealing your time, or you perhaps needs some support with the next stage of your business growth, did you know that we have a monthly support package tailored to you?

Book in a call to find out more.

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