Priorities Impact Decisions as an Entrepreneur

I was recently involved in a discussion about people not being able to afford certain "extras".  It is amazing how individuals will "justify" the excuses they have around this.

Perspective allows us to look at a situation and be able to see things from more than one point of view.  Let's look at an example.

An entrepreneur states they want to grow their business, but  can't afford to spend money on something that would excel their business.  Let's say it would cost about $100 per month.  They state they don't have an extra $100 per month.  Yet, this entrepreneur smokes a pack of cigarettes per day at a cost of $3.50 on average, per pack.  They are spending $108.50 per month on this habit, and, giving more priority to their habit, than investing that money into something that would excel their business.  They have put more priority on smoking than what they say they want for their business.  

This happens every day, both in personal situations and in business.  People allocate money to things that do not bring them the results they truly want, and don't understand they need to make different decisions, and can choose to RE-allocate their money to something that will support the results they want.   

It's important to understand more than one point of view in order to make different, or better decisions for ourselves.  It's like a wake up call when we open our minds to another perspective.  

Another example would be someone is working as an employee and wants to branch out and start their own business, but they are buying their own excuse that they don't have the money.  "IF" they had the money, they would start a business.  This same person is driving a new car-over $60K, subscribes to cable TV-$120 per month, buys lottery tickets every week, etc. etc.

Many wanna be entrepreneurs do not understand this concept of re-allocating your money.  Society accepts that it is "normal" to have a car payment of $500-$800 per month, and spend $120 month on cable TV, $100+/mo on cigarettes, and $15/wk on lottery tickets, etc.  Yet do not prioritize or reallocate their money to do what they say they want....start a business.  Successful entrepreneurs understand the importance of making powerful decisions that support their goals.   Successful entrepreneurs understand figuring out how to come with the money they require to start, run and maintain their business is simply part of the process.  It requires getting clear on what you need and then creatively working with 100% commitment to figure out a way to make it happen.  This often requires making sacrifices in other areas short term to get the results you want long term.   This could be selling the $60,000 vehicle and replacing it with a $10,000 vehicle for the time being, to reallocate the money from the car loan to a business loan instead.  Or cancelling cable and reallocating that money to your business loan.

I had a discussion with someone that pointed out many families can't afford an e-reader for their children.  Yet this was a parent that spends money on cable, smoking etc.   That parent has more of a priority on smoking and cable, than on what their child requires.  A basic kindle is $64 on Amazon.  Where are their priorities?  Have they looked from a different perspective?  Do their decisions support their child or their habits?   This is just as applicable in raising a family as it is in running a business.  Asking yourself these type of questions allow you to pull back the smoke screen of excuses you are buying.

We put our energy and time into our top priorities.  If you are not getting the results you want, re-examine whether you are prioritizing the right things in order to reach the goals you have in your business.

As posted on:  http://bizcatalyst360.com/priorities-impact-decisions-as-an-entrepreneur/