We have a lot of interaction with business owners at different levels, and one thing we have learned is there are a few key concepts that separate the high performers from those who struggle. Some of this comes from what we have learned about ourselves over the years as well, and applied in our business.
To preface this article: I have been thinking a lot recently on the concept of strategy and tactics. Through that study, I have determined that we are most certainly a strategy driven company, as we rarely focus on tactics. Our focus on tactics is finding a solution that moves us to the next place on the map.
1) You have control of your own destiny!
This is a mindset that we encounter daily, and fortunately an affliction that we have never suffered from. The best example of this is when people say that they were suspended for nothing. In general, if your account was suspended, then you did something wrong (either through ignorance or intent.)
Everything we do OR don’t do has consequences. Every choice we make has an impact somewhere. It just happens that most people want to claim intention over the good things, and claim chance over the things that turn out poorly.
Once you realize you have power and control over everything you do, and every aspect of your life and business, it is a truly powerful feeling. You have the power to change, and to create greatness.
Just remember: the decisions you make have meaning and consequence.
2) Be solutions-oriented and don’t dwell on problems.
Too often we find ourselves in the trap of focusing on the problem, rather than the solution. You have to realize that problems themselves merely present the opportunity for you to find a creative solution and progress your life or business.
Here are some examples of problems that people tend to focus on:
– Customer returns
File your case, if you have to the grounds. If not, donate or destroy the product and write it off on taxes as a loss. Do whatever you have to do, but don’t dwell on it. Customers sometimes suck, but why focus on that? It doesn’t make you money!
– Amazon didn’t receive my inventory correctly
File for a reconciliation, and submit the necessary invoices. Then move on.
– Amazon lost my items after receiving them
They will most likely find them and place them back into your inventory. If they don’t, routinely check your inventory adjustment reports and file cases as needed. This shouldn’t be an exception, this should be the rule and, as the rule, it should not affect your mood. Shrinkage is a part of any real business. This problem is not unique to Amazon.
– I received a Performance Warning/Notification
This is simple: play by the rules. If you received this, be happy that Amazon cares enough about your business to issue you a warning for something you did wrong. Take corrective action, and make sure you do better next time.
– Another seller has started a race to the bottom
Don’t be emotionally attached to your products. Once you have purchased a product for resale it is a unit. Your goal should be to use the best strategy to possible to most profitably sell your units. Products inherently have no value, and any value they do have is determined by the market price. If the market changes, the product is worth less.
You can’t dwell on the actions of others, and you certainly can’t control it. Focus on the other products you carry and make the best decision possible with that one. Sell your product, keep your product, return your product. Those are your options. Choose one, and move forward.
3) Think big. Don’t dwell on where you are; focus on where you can be.
You have to realize *you* are the primary obstacle between where you are and where you want to be. As I mentioned above, you have control of everything that you do. If you believe you can’t accomplish something – you won’t do it. However, if you look at new situations, and try to develop the strategic plan that will get you there – you will accomplish big things.
Don’t handcuff yourself by looking at where you are and focusing on resources. Instead, focus on where you want to be and build a plan that will allow you to strategically acquire those resources as you need them.
4) Take action, don’t spend time talking about taking action.
Inaction causes more failure than anything. One of the things we truly pride ourselves on in our business is taking action. We look at situations, decide if it works with our goals, and then take action to get there.
We don’t spend tons of time trying to analyze all of the possible outcomes. Instead, we decide if the project is successful. how does it affect our overall plan? Most decisions you make are inconsequential in the grand scheme of things and can easily be reversed.
I truly believe our best data comes from taking action and learning through the experience rather than puzzling out all of the possible solutions to decide if an opportunity is something worth taking. Our approach leads to lots of mistakes and failures but it also leads to lots of successes. In most cases those successes dwarf the failures, in terms of the impact on our business.
5) Work with people with the focus of making them better.
I think far too often people approach situations solely from the perspective of “how does this help me?”
Don’t worry, we were once in that boat. We used to be very private and not share things about our business. However, once we started networking and sharing intimate details about our business we grew – pretty exponentially! What you learn is: by trying to help someone else, you also get amazing feedback and advice that will work for you as well.
Don’t be a taker, a lurker, or a leech. Focus on helping others and asking what you can do for them. Putting yourself out there will pay invaluable rewards.
6) Look for ways to accomplish tasks without being involved in them.
This is about automation and outsourcing. One of the things that holds many people back is the fact that they try to be everything to their business. Most times it is more profitable for you to look for ways to outsource rather than to actually do the task yourself. By outsourcing and looking for automated solutions, you are buying time back to focus on the most profitable and valuable parts of your business.
Nothing in your business will have such a valuable impact as you focusing on the most important aspects of it.
7) Remove Negativity From Your Life and Business.
One thing you have to understand about negative people is they congregate together. As the saying goes, “misery loves company.”
When people are perpetually negative, they don’t look for opportunities to allow themselves to succeed. Instead, they revel in the things that go wrong, talk about the problems they have and, even worse, try to tear others down.
This was one of the most powerful realizations we had. By being in environments that were predominantly negative, it actually adversely affected our performance and outlook. Once we realized that, we removed ourselves from that setting. We stopped talking to people who were negative and refocused to deliver as much value and help to others that we could. Focus on helping others and surround yourselves with likeminded people who want to succeed and you can go far!
Choosing your friends is an important skill in being an entrepreneur.
Hopefully, this article helped provide you with a new perspective or reinforced what you already knew. As always, thank you for reading and don’t forget to subscribe!
They now accept students a couple times a year to teach them The Wholesale Formula, a blueprint of the exact steps they used to build their multi-million dollar Amazon business.