The business world abounds with stories of entrepreneurs who either built their success unethically or whose companies became one of the many to fail. How can today’s generation of new business owners avoid those same outcomes? The example of author Clayton Patterson may provide inspiration. As the founder of Digital Space Marketing, The Finity Law Firm, Best Cataract Surgeons in America, and Best Lasik Surgeons in America, Clayton has created a growing entrepreneurial legacy across the United States. Below, he talks about six guiding principles that have steered him past common traps as a business owner, allowing him to develop a solid foundation for his companies and excel.
- Outsmart risks
“I am a pilot, so I am always aware of the big picture: the plane must keep flying no matter what happens. That’s my responsibility and means that if trouble comes, I have to put on my own oxygen mask first before I help anyone else. Otherwise it’s over,” says Clayton. “It’s the same in business. Leaders must make sure they put on their own oxygen masks first so that they can continue flying their planes. That includes getting task management right, which is critical to success, and not allowing ourselves to get so overwhelmed by everything that we can’t fly safely. That means we must strengthen our psychology and habits so that the rest can flow from that. Identify the key drivers, those things that are so important that if you fail to focus on them, the business will go under or the plane will crash. Everything else is secondary. Take care of yourself, get your mind centered, and always continue to fly the plane no matter what.”
- Overcome fear
Many issues in entrepreneurism can be solved by developing a healthy relationship with fear. Instead of giving in to it, business owners should create some space from it. As a result, they will be able to understand what it is actually telling them and decide whether or not to listen to it.
“Fear itself is not terrible. It’s just an emotion,” Clayton explains. “It’s what lies behind it that’s important. So often, when we slow down and really look at it, we realize that we are worried about the ‘what ifs.’ What if our business fails? What if we can’t pay our employees? What if sales tank? We have to stop, listen to those questions, and decide if they really are valid or not.”
In business, entrepreneurs can overcome many of their fears by proactively planning for contingencies. By thinking twenty steps ahead like a chess player, they can chart realistic paths forward. That alone will eliminate much of the fear in a person’s business life.
- Practice resilience
While entrepreneurs have a lot of drive, the reality is that success, however they define it, takes time. Clayton agrees that adversity is just part of the process of scaling a business.
“Stress and emotional hurdles come with the territory,” he confirms. “Never forget to take breaks even when you are surrounded by mountains of issues. Sometimes the best thing you can do is to take a few steps back from what you are creating and get perspective. You are an entrepreneur. That is incredible! Find the time to take care of yourself and be grateful for how far you have come. Those mental refreshers can really help you to keep going when you otherwise want to throw in the towel.”
- Live with integrity
Clayton adds that in the business world, owners will find plenty of opportunities to cut corners, and he cautions against taking the easy way. Once a company loses its reputation and customers stop trusting it, it is very difficult to recover.
“Integrity is absolutely essential for a business to be successful in the long term,” he confirms. “Make sure that you practice it yourself, and look carefully at every team member you bring into your company. Make it part of how your business rolls, always, and you will create a stronger future for it.”
- Actualize a purpose in life
There is nothing “wrong” with wanting to make money, but even so, Clayton suggests that entrepreneurs go a little deeper into their motivations for beginning their companies. They have an incredible opportunity to become leaders in their communities and make a real, lasting impact.
“It starts with providing good, dignified jobs for their employees and goes out from there,” says Clayton. “They might want their businesses to increase diversity, open doors to higher education, make their industries more sustainable, or other causes. The more a company has a real purpose, the more motivated its owner will be to see it through the inevitable tough times.”
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One last suggestion for new business leaders
Last, all entrepreneurs should reevaluate themselves from time to time. Just as companies evolve, so, too, do their owners and executives.
“We are all the ultimate works in progress. We will never be perfect, so we must continue to examine ourselves, learn, and improve,” Clayton states. “Remember, too, to pass on what you know to the next generation. Just like you did, they will use that knowledge and wisdom to build their own businesses, which may be the greatest legacy you could ever leave.”
Clayton Patterson is the Founder and CEO of Digital Space Marketing, a remote, “in-house” marketing team that provides all the solutions a company needs under one roof, enabling them to say goodbye to multiple vendors. He is also the author of Blast Off: What Executives Need to Know About Digital Marketing, the ultimate guide to unlocking the full potential of digital marketing for your business. From concepts to tactics, Clayton takes readers on a tour of the landscape, all without going into the weeds.For more information about Clayton, please visit https://claytonpatterson.com/.
