WARNING:  Business Death Traps You Must Evade

Ninjas lived lives fraught with danger.  Their homes were mazes of sliding panels and disappearing floors to provide routes of escape and new angles of defense.  They were constantly aware of their surroundings - both familiar and unfamiliar - so that they could evade any ambushes, attacks or death traps and accomplish their goal.

You, as an entrepreneur must also evade dangers and death traps that threaten your business.  The dangers may not be as mortally deadly as those that a ninja faced, but they do require preparation, practice, and focus to evade.

The pitfalls of starting and running a business are numerous.  There are untold dangers that constantly attack your entrepreneur profit.  No matter what your business profitability goal may be, whether it be $20,000, or $200,000 or $2 Million; there are some common death traps that you will have to avoid to get that money in the bank.

Don't believe the Media

Today, right now, you are being bombarded with bad news.  Local news in every city that I have visited over the last 10 years has sounded the same - crime, fires, middle east peace talks, and struggling economic conditions (for someone, somewhere).

It doesn't matter where you are.  Peoria, Tampa, Boston, Dallas, Detroit, or Los Angeles.  It does not matter. You will hear or see the same news.  It has even happened on my international trips.  It is both amazing and depressing.

You have to believe that your thoughts determine your actions.  Your thoughts are guided by your beliefs and feelings.  If you believe that things are bad, or hopeless, as so many of in our communities believe, then you will act accordingly.

Great entrepreneurs do not wait to do anything.  They do not succumb to the same malaise that strikes the general public.  They are optimistic, even in the face of impossible odds.  Why?  Because they take action.  In this particular situation the right action is to stop watching, listening to, or reading the news. 

Be aggressive and watch your attitude improve.  You will feel better for cutting this cancer out of your daily routine.  You will be sharper and more focused and this will lead to your success.

Don't Let Costs Creep in With New Business

Many businesses work very hard to get that first big contract.  It is the gateway to success that the entrepreneur envisions.  It is one step closer to the achievement of your dreams.  It is a very big deal.

Unfortunately this key moment is often handled wrong.  This one mistake can lead to significant problems in your business.  Just as hesitation, indecision and distraction in a battle can lead to instant death for the ninja, the lack of focus on the support infrastructure and the associated costs can be just as fatal for your business.

When you get that big contract, sit down and review your proposed cost structure.  Reduce it by 20% and use that as your operating budget.  This approach will force you and your team to be innovative and reduce costs. 

Ninjas are innovative.  They adapt to the situation, improvise to achieve their mission, and overcome any obstacles, challenges or barriers between them and their goal.  They also seek partnerships and relationships that can help them accomplish their mission.  You must take this mindset to the table when you launch this new project and watch your costs. 

Reduce costs but do not be cheap.  There is a significant difference.  In one cast your customers will be amazed by your efficiency and in the other case, they will never return.

Not Knowing the Competition

A ninja's main purpose is to gather information.  Historically their secondary purposes were espionage and assassination.

If their main purpose was to gather information, do you think that they did anything else without gathering information?  Of course not!  No matter what their mission it included knowing their objective and everything related to it.  That was a given for them and it should be for you also.

Look at your competition.  Study them.  What do they focus on?  What do they do well?  What do they do poorly?  Know them.  Talk to them.

There is a difference between knowing your competition and being obsessed with them.  Study your competition using some of the great tools that are available.

Art Espey is the business ninja.  He is the founder of 4Steps2.com.  Art led a company to the Top 100 in its industry nationwide.  Follow these principles to lead your business to success.  Art can be contacted at www.4steps2.com or 800.474.3610.