Ken Boyar in his book “The Practical Dreamer: Do’s and Don’ts of Mastering a Small Business” wrote this powerful advice:
“Everything that happens in your company — whether good and bad — is a result of something you did and failed to do.”
After all, you are the master of your business. As the owner, everything that you accomplish is a result of your hard work, perseverance, and keen strategic thinking. Your decisions and how you face up to the challenges sets the direction of your business. This means recognizing the good decisions that you made, and accepting the bad ones.
As Boyar continued,
“Everything that happens in your company — both the good and the bad — is your responsibility. Own up to the problems. They are indeed your own. This attitude marks the start of healthy thinking and good decision making.
Take time to pat yourself on the back for all your accomplishments in your business. Congratulate yourself for doing a great job in your business.
But if things are going haywire, be sure to accept the responsibility. Resist the urge to blame others — your suppliers, your customers, your employees, even the economy — for the downturns of your business. Unfortunately, you may have let opportunities slip by, failed to correct persistent mistakes, chose the wrong people to help you, or failed to prepare for the worst given the economic downturn. Understand that you have the choice to determine what direction the business is headed.
It’s a simple advice, but one that could really serve you well as an entrepreneur.