There is no one formula for success. Every successful person has a different story of how they came to be. But these people might share one thing in common. They all started somewhere, and for you, that somewhere can start today!
In this episode, Daryl Urbanski of Best Business Coach joins us as he shares his expertise on starting and growing your business career and what it takes to be successful. Daryl also gives an insightful discussion of his research on the critical success factors to grow your business. He also shares the productivity tools he uses daily that help him achieve his business goals!
Here are three reasons why you should listen to this episode:
- Learn the eight critical business success factors, all according to research
- Get practical tips and strategies to help start and grow your business
- Discover productivity tools you can use to help achieve your goals
- Riches and Beyond
- Improvement of the Mind by Isaac Watts
- Outliers: The Story of Success by Malcolm Gladwell
- Learn more about the Eight Critical Success Factors Research
- Build a successful business with BestBusinessCoach.ca.
[01:45] What It Takes to Succeed
- There is no more well-proven, well-traveled path to financial freedom than investing in land and real estate.
- Real estate is just like any other business.
- And in any business, you need to have knowledge and experience.
[03:34] Improvement of the Mind by Isaac Watts
- According to Improvement of the Mind by Isaac Watts, there are five ways to improve the mind at something — anything. They are observation, self-study, lecture and formal education. They also include shared group goals and experiences and personal experiences.
- Learn from yourself, experts, and peers.
- The journey to success does not end with these steps. You have to learn how to handle and overcome life’s obstacles.
[08:05] Eight Critical Success Factors to Business
- Daryl and his teams of researchers studied the science of what it takes to be successful in business.
- They found eight critical success factors in business. They are self-efficacy, strategic planning, market intelligence, marketing strategy, sales skills and strategy, money management, business operations, and business intelligence.
[09:34] Self-Efficacy & Strategic Planning
- Self-efficacy is the most important factor.
- Show up and be effective at getting things done is part of the productivity tools for the business and the team.
- Strategic planning is knowing and being aware of what’s happening and where things are going in the business.
- Having funds and tools is not enough.
[11:09] Market Intelligence, Marketing Strategy, and Sales Skills & Strategy
- Market intelligence means being connected to what’s happening on the ground with the customers and competitors.
- That also includes being aware of the political atmosphere surrounding the business.
- Have marketing strategies for communicating your message or offer. Tailor them to the potential communities the business might serve.
- In sales skills and strategy, understand that there are varying strategies for selling to different people.
- Match the strategy to the business’s industry.
[12:33] Money Management
- Money for a business is like gasoline for a car.
- It’s not everything, but the business will not get around without it.
- Having money does not guarantee success. You must manage it properly.
- Mismanaging money can bring the entire business down.
[13:09] Business Operations & Business Intelligence
- Business operations are the glue that holds the business together.
- These are the team meetings, legal compliance, hiring process, and other operational matters.
- Lastly, business intelligence is the feedback loop about how the business is doing.
[14:12] Outliers: The Story of Success
- What is one of the best findings in Outliers: The Story of Success by Malcolm Gladwell? It is that all world-famous people had at least 10,000 hours of practice.
- You get better as you build your personal experience.
Daryl: “One of the reasons why people lose motivation is because they're just not focused on their goals. They're not thinking about their goals; they're just really busy putting out fires. There's no plan for their life. They're not moving towards anything.”
[14:41] Getting Things Done
- Daryl uses a tool called ‘Getting Things Done’ to keep track of his goals.
- The tool allows you to take inventory of all areas of your life.
- It lets you note the steps you can take and delegate to move you closer to your goals.
- Listen to the episode to learn more about ‘Getting Things Done.’
Daryl: “I think that people are way more effective, way more intelligent, way more capable than they even believe they are. But often they're just so caught up and distracted by the notifications on their phone.”
[18:18] Energy Management
- No matter how active you are, you will always need to be more active.
- Your energy level dictates the number of things you can do.
- Sometimes it has less to do with motivation and more with how you use your energy.
- Not having enough energy to get through the day will push you to fill yourself with stimulants. The best examples are coffee and energy drinks.
- Have, at most, three goals daily and five most important tasks weekly.
[20:55] Time Management: The Pomodoro Technique
- Do not be busy. Be productive.
- Daryl plans his day with three to four hours of intense Pomodoro.
- He schedules 25 minutes of intense focus. He follows that with short or long breaks.
- Have a daily checklist of important habits for who you want to be and what you want to accomplish.
- Plan your day and fight to get through it all.
[30:18] Key Takeaways
- You need education to point you in the right direction. Motivation and the right tools will help get you to your destination.
- Aim for structure and focus.
- Know what you want to do and stick to it.
- If you’re waiting for inspiration, you will never make it through the obstacles.
Daryl: “Ignorance is not bliss. It can be pain, suffering, and disappointment.”
Daryl Urbanski is the founder and president of Best Business Coach. He is best known for his ability to create seven-figure, automated income streams from scratch. Daryl’s mission is to help make 200 new multi-millionaire businesses with science and accountability.
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