Many choose to become entrepreneurs, but few succeed. The difference? Those that succeed understand the active ingredients for success. With his One Big Tip, psychologist Dr. Todd Snyder breaks down some of these ingredients to help those who are struggling with forward motion find real growth in their business.
Entrepreneurship requires a significant amount of work—that much is true. But not all work is the same when you’re wearing all the hats. Prioritizing your goals and structuring your day around those goals can be the difference between company growth and being stuck in a rut.
“Some entrepreneurs are spinning their wheels and just barely accomplishing anything while others are accomplishing things so fast, I can barely understand how it's possible,” says Dr. Snyder, “If you can find the active ingredients, those few things that make the biggest difference, that will propel you so far and so fast compared to trying to do everything and trying to move forward.”
So how can you discover these active ingredients and make them priorities in your day-to-day work? Dr. Snyder’s answer to this all comes down to his one big tip: identify your bottlenecks. Dr. Snyder spells this out with a simple trick you can do every day:
My big tip is to create a recurring reminder in your to-do list system or your calendar to sit down and look at your bottlenecks in your business—to identify what your bottlenecks are and to brainstorm strategies on how you can alleviate those bottlenecks.
You need to recognize the things that are holding you back and remove them from your path to success. Setting time aside specifically to do this will help you keep your obstacles at the forefront of your mind so that you can obliterate them.
But you need to do this daily because bottlenecks are rarely alone. “There always is a bottleneck,” Dr. Snyder says, “and as soon as you alleviate one, a new one will pop up. That's just the nature of a business.”
So how can you find these bottlenecks? Dr. Snyder backs up his tip well: “Just ask yourself, ‘If I wanted to double my revenue by tomorrow, what would stop me?’ That's your bottleneck.”
Todd equips all kinds of business owners with the psychological tools they need to become and stay productive throughout their day. One Big Tip listeners can download a free productivity template called the Daily Start Sequence by going to www.toddsnydercoaching.com and downloading the PDF.