Six Tips for Business Owners

The following article was another one based on running ultra marathons. However, the more I read it, the more I thought there were lessons that could apply to running a business, so I’ve adapted it to bring out those tips. As someone who runs ultra marathons, but also a start-up, I try to constantly remind myself of these tips each day, particularly when something might not quite go the way I want it too.

1.) Align expectation with reality

The mind is a funny object. As a runner, there have been many times I’ve been on the start line with big expectations for my race, only to have them dashed by what I thought was a poor performance.

Expectation versus reality is essentially all about getting to the start line with the proper training in place. The same applies in business. If you haven’t done the leg work, put the proper systems, procedures and hard yards in, then just like a race, things won’t go to plan. You can’t fluke a 100km race and similarly you can’t fluke running a business.

When you’re looking at your business performance, ask yourself the really hard questions and be honest with the answers. If you haven’t put the work in, don’t expect the results to follow.

2.) Run your own race

Running with someone else in an ultra is nice. You get to experience the race with them and enjoy the ride. But that can go one of two ways. You could end up running beyond your ability, crashing and burning too early. Or you could be hanging around waiting for them, losing ground.

While it’s tempting to look at what your competitors or partners are doing in the business world, stay on your own track. Deliver against your own goals and don’t worry too much about what someone else is doing. You’re not in business to run their race – you have your own journey to think about.

3.) Be accountable

In running, unless there is a huge mistake by a race organiser, you’re the one responsible for your own race. You’re the one that should know how to look after yourself, particularly if it’s in hazardous or mountainous terrain.

The same goes for running your own business and how you manage people that work with you. Over the years I’ve seen a lot of people who desire responsibility without the accountability – that’s for someone else to worry about. Make sure the buck stops with you and those around you know what their ‘bucks’ are. That will lead to a more open and honest culture that places frank communication at the heart of the business.

4.) Put a smile on your face

Even though running a 100kms hurts like hell, I do it because I love it – if you’re not enjoying it then what’s the point? A simple smile in a race can help to change attitudes and your overall sense of how your race is going in an instant.

Work is just the same. How you come across in the office can affect the mood of others. While as humans we all like to indulge in a little self-pity now and again, give yourself a slap on the back and put the bad stuff behind you. Many runners are highly pragmatic about what they do. While we maybe considered obsessives due to the nature of our sport, at the end of the day, “it’s only running”. The same goes for running a business.

5.) Go with the flow

Runners tend to be very caught up in the analytical process of running. By that I mean we love to set splits, analyse numbers, getting caught up in the digits on our GPS watches, rather than listening to what our body is telling us.

There’s a good reason you’re running a business, and that comes down to the experience you’ve gained over many years. Trust that experience and don’t get too caught up in what the numbers might be telling you. Data is data. But information and the power to derive insights comes from you as a human being. Trust that you know what you’re doing and run with it!

6.) Respect

Running is a very selfish sport. Afterall it’s you versus the course in many respects. But a healthy dose of humility and respect go a long way towards creating a better environment. In our business lives, it can be too easy to get caught up in our own hype that we miss the simple “thank-you” and respect towards others.

Go out of your way to acknowledge people, not just for doing their jobs, but for the excellent contributions they make, be it your right hand man or lady, or the cleaner who clears your rubbish each night.