Episode 442: The 4 Steps to Transform a Struggling Business Owner
Have you ever wondered why some entrepreneurs struggle despite having a solid business model? The truth is, the greatest obstacle often lies not in the business itself, but within the mindset and behaviour of the business owner.
In this episode, Adam Stott demystifies the process of transforming from a struggling business owner into a successful entrepreneur. Through compelling narratives and actionable steps, Adam reveals a robust four-step success formula designed to reignite the passion and results in any business. He emphasises that “your business isn’t broken, you are,” shifting focus towards personal development as a catalyst for business growth.
By reframing challenges through specialised information, Adam equips business owners with the mindset needed to tackle the complexities of entrepreneurship.
Show Highlights:
- Recognise the internal habits hindering your business success and focus on self-improvement.
- Prioritise obtaining specialised information from mentors rather than relying on general resources.
- Take substantial and persistent action on new insights to yield tangible progress.
- Surround yourself with individuals who are achieving greater success to stimulate personal and professional growth.
- Link the four steps of specialised information, substantial action, persistence, and environment to synchronise habits and drive results.
Links Mentioned:
Get your Business Growth Secrets SUCCESS PLANNER for FREE and profit like a pro: https://adamstottplanner.com/free-book47315172
Adam’s website: https://adamstott.com/?el=Pod
Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod
Connect with Adam on Instagram: https://www.instagram.com/adamstottcoach/?el=Pod
Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod
Coaches, consultants, and business owners – lower your marketing costs, increase ticket prices, and get more high-ticket clients: https://3daybrandbuilderworkshop.com/start-here?el=Pod
Transcript:
Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
Adam Stott: Your business isn’t broken. You are. Most business owners blame absolutely everything except the habits that stop them getting the success that they want. And this is actually good news because by watching this video. I’m about to break down a four step process that can literally fix everything you do.
[00:00:31] This is a step by step success formula to get your business back on track, empower you to get new results, and I’m very, very excited. I. To share these steps with you because if you’ve been struggling, feeling like business is difficult, saying to yourself, when’s it gonna work? And you’ve not been seeing the results that you wanna see, you are literally four steps away from fixing it.
[00:00:52] We’re gonna break these down, so let’s jump on in to the studio where we go over the four steps to fix any broken business owner. Okay, team. So there are four simple steps of we discussed that can really get us in a place where we control the business and feel empowered. The first step is you are gonna encounter all of this crazy stuff happening in your business.
[00:01:16] There are gonna be times where you go into the business and you’ve got all these new things happening. See, when you started your business for the first time, you probably were really good at something. You had a special skill. Maybe you are amazing accounting. So you went and started an accountancy practice.
[00:01:32] Perhaps you’re a great recruiter, so you started a recruitment business or whatever industry that you are in. It’s probably gonna sound a little bit. Familiar. So what happened? Well, what happened very quickly for most business owners is that they were great at that thing. They were great at that one thing, and that’s why they started.
[00:01:51] But then they realized that they had to become a great marketer. To market the business, I had to become really good at branding and visual identity, and they’d never done that before. And then all of a sudden they’ve gotta get their head round selling. They’re like, what? I’ve gotta sell stuff. And you need a strategy, and you got all these things, and all of a sudden the overwhelm comes in.
[00:02:11] And it causes people to get themselves in a place where they feel lost and confused. Now, the antidote for this is very simple. You must seek, and this is step number one, specialized information in every single challenge that you have. So what I want you to do as a practice and a habit change to get you in a place where you absolutely crush it in business is every time your brain thinks.
[00:02:40] I can’t do this. Every time your brain thinks I’m stuck, every time your brain thinks, I don’t know what the next move is. Every time you feel a little bit down or you’re struggling a little bit, I want you to instead reframe this for yourself and say, I’m just lacking. I. Specialized information. Okay, so what’s the difference between a general information and specialized information?
[00:03:04] Because there’s a huge, huge difference. General information is everywhere. You can get information on YouTube, you can get information everywhere. What specialized information is somebody that has walked the path that you want to walk, they are in the position. We’ll give ’em a Superman cape. They’re in the position that you want to be in.
[00:03:26] So what you gotta look to do is you gotta look to find people that are in that specialized position where they can show you exactly what they did to get you there. Now, the way that you do this is you have to seek out great mentors. You have to seek out great coaches. And great suppliers. ’cause sometimes paying for information is the fastest way to get progress.
[00:03:49] Many people don’t realize that. They feel like information should be free. But in fact, when information is free, you usually pay for what you get. Now, hopefully you get what I mean there. It’s usually not the information that’s gonna take you to the next level. So seeking specialized information is the first step, but that isn’t enough.
[00:04:08] And we see this a lot. A lot of people will go and get some information and they feel like the job is done, but actually that is just the first step. When you receive specialized information, you have to do something with that information, which is where many people struggle. You have to get into. The phase of massive action.
[00:04:31] Now, I’ll explain this for you. What’s the difference between action and massive action? Now, when you take action on the information that you’ve got, you start to make progress. But this is what I’ve seen from many, many, many business owners and many people, is they go out and they get themselves into a place where they find some good information.
[00:04:49] They maybe hear a speaker, hear a coach, listen to some podcasts, go and listen to all this stuff, and they hear a concept. Oh, I know that information ’cause I heard someone talking about it and you may have even heard someone talking about taking massive action before you are like, I know that take massive action.
[00:05:05] I. Are you doing it? ’cause there’s a big difference between knowing it and doing it and taking massive action means you are doing it. Specialized information comes to you. The faster you take the action, the faster you make the progress. Hey everyone, hope you’re enjoying the podcast. We’ve got a free training that I’m doing right now online from the comfort of your own home called Stand Out Brand.
[00:05:29] What this does is it shows business owners how to get noticed on social media, stand out. Get more leads and get more sales. So if you want to make more money in your business, head over to adam.com/sob. That’s adam.com/sob and join us on the free three-day workshop standout brand. Now, massive action means you don’t just do one thing once.
[00:05:56] It means you take that information and you take action on it every single day. Consistently, and you keep taking the action, which opens all the doors and moves you further towards your goals. Which leads us to number three, and what we’re gonna see at the end is how these four steps link together to perfectly synchronize your habits.
[00:06:19] So if you are that business owner, the struggle to put things together, that’s had some success, but then dips and then goes up again and then dips, is because you’re not linking these elements together. You might know one or two, but you haven’t actually glued them together in your mind in a process that drives you towards your results.
[00:06:37] So what is the third one? The third one is having massive. Persistence. So you are in a place where you persistently take action because this is what happens. You learn a new concept and remember why we’re doing this. You have the business owner that doesn’t know marketing, for example. So they go and get some specialized information and then they act on that information.
[00:06:58] They start making some progress. They take some massive action, they’re moving forward. All of a sudden they’re getting new leads, their business is growing, and then they hit a few speed bumps and have a few issues, and all of a sudden they stop doing it. Have you ever known someone that has took some stride forwards, been moving in the right direction and then dropped backwards?
[00:07:20] Have you even perhaps known that person personally? Well, this is what happens a lot of the time with people. I. People get the info, they take the action, but they don’t remain persistent and they quit before the magic happens. So remaining persistent is what helps you to go on a journey where you start to implement these new tools and techniques.
[00:07:41] And as a business owner who is gonna have to be in a place where they learn marketing, they learn branding, they learn sales, they learn how to manage people, they learn how to do all these different things. Getting specialized information. Taking the action remaining persistent and consistent is what creates results, which leads us to number four.
[00:07:59] Well, how do you do this and how do you make it just like mechanical in you as a business owner where your first thought is, okay, I’ve got a problem, I’m stuck. Get the info rather than moan about being stuck. Right. How do you do that? How do you then go, oh, I’m taking massive actions. This is what happens when people start taking action.
[00:08:17] They go, I don’t know if it’s gonna work. What if it doesn’t work? Instead of just getting rid of that and just taking the action. How do you do it and how do you remain persistent? You control your environment. Do you feel like you are a competitive person? Well, the answer to that question is yes, and it, it probably is.
[00:08:34] Yes. If you’re watching this type of video, you have to ask yourself another question. I. Are you at the top of your tree in terms of the people that you hang out with, in terms of the people that you are around? The answer to that question is also, yes. You might be slipping into that comfort zone because you want to get around people that are doing more than you, that are playing at a higher level than you.
[00:08:55] You don’t want to be like a little bit of a high level. Well, people I’m hanging out are doing a little bit more than me and you know, they’re a little bit ahead of me, but that’s okay. ’cause it makes me feel bad. No, you wanna say, how do I seek out people? That are doing five times more than me, 10 times more than me, that their level of success is just so outside of your sphere of like you’ve never experienced it, that it just gets you to question everything that you do.
[00:09:18] And then when we link these four things together, this is where the magic happens. I told you I’m gonna see the magic from these four steps. When you control your environment and you get around people playing at a higher level, you start to receive more specialized information. You start to become more of an action taker because guess what?
[00:09:39] You’ve actually visually seen other people do it, and when you see other people do it, you go, if they can do it, I can do it. You start going and taking the action because all of a sudden it’s not the unknown anymore. You are not going, will this work? Will it not work? What if I do it? What if I don’t do it?
[00:09:54] You are going, they’re doing it. They’re getting a result. So it becomes much, much easier for you to take the action. And guess what? When it doesn’t quite work, you’re not gonna moan about it. You’re like, oh, this don’t work for my industry, and oh, this doesn’t happen. And I knew I couldn’t do this. I’m a crap marker and I’m no good at tech.
[00:10:09] And you’ve got all that kind of stuff going on because you’re just gonna remain persistent. Because you are gonna know that if you keep going, eventually you’re gonna break through. So these four steps, specialized information, plus massive action, plus persistence plus environment, allow you as a business owner to get rid of overwhelm, get rid of procrastination, get rid of doubt, get rid of fears, get rid of worries, get rid of anxieties, and step into your greatness.
[00:10:39] So team. Simply take those actions so you can start stepping into your greatness and achieving everything you want out of business. And if you are a business owner, you’ve been watching this and you’ve been enjoying it, and you wanna understand a little bit more about how I’ve managed to put these things in place, go and grab yourself a copy of my book.
[00:11:02] Millionaire Success Secrets in here. I talked to you about where I was when I first started out in my first ever business age 25, lost and confused, not knowing how to build the business and how I discovered these steps, found the right people, changed my circle. Got into great environments and built businesses that did over 156 million pounds worth of revenue.
[00:11:27] And don’t forget to subscribe ’cause every single week we’re making new videos where you can pick up the tools that you need as an entrepreneur to go all the way to the top. Thanks again, and I look forward to seeing you very soon.