The number one character trait your business needs from you in order to be successful.
MIT neuroscientists recently watched the brains of 63 entrepreneurs and managers, and spotted a key difference: Entrepreneurs use their whole orbitofrontal cortexes, enabling them to be more flexible problem solvers.
When starting your family entertainment center (FEC), your endeavors will not always go according to plan. Being a good planner and using the right tools will give you a better chance at making your business succeed, but if you cannot change plans according to market trends or business needs, the business will certainly fail.
Flexibility in yourself as an entrepreneur, in your staff and your software will allow you to switch gears and “go with the flow” allowing for an even greater success rate.
What are some situations where an entrepreneur may be flexible?
- Don’t do it all yourself: thinking you can do it all himself is set up for failure. Learn to delegate and let others take control of parts of his business. Surround yourself with people you feel comfortable working with. Hire competent help and don’t forget to reward your team when the company experiences success!
- Be flexible with price: You can’t win them all, even on prices for your goods or services.You may need to be flexible in the price of your goods or services. Don’t get less than you can afford but be willing to offer discounts to clients or customers who order large volumes, and even lower prices in reaction to market demand.
- Keep your product options open: recognize the need to diversify and be critical with the real life applications of your “great ideas.” Flexibility allows you to match market conditions and customer needs.
- Use a POS system that will easily accommodate these frequent changes: A system like LilYPad will allow for quick and easy updates to products, services, scheduling and inventory without the need to upgrade or buy new versions. You need a POS system that works for you, and not one you are chained to. Never allow yourself to pass by a business opportunity because you find your POS system cannot accommodate your progression.
When have you been a flexible entrepreneur with successful results?
- Focus on growing your business.
- Growing your business, 3 roads to success