If I could give you one simple formula to help you navigate the ups and downs of entrepreneurship, it would be the E-4 Process (which I call the E-4 Process because it gives you four steps to becoming extraordinary in any situation).
This is the exact process I use to help my clients navigate pretty much everything they face in their business and personal lives. Its roots are in the active learning cycle methodology. The four-step process can help you identify and adjust whenever your mind-set, leadership, or intention setting is veering in the wrong direction.
Four Steps to a Successful Future
No matter where you go or what you do, the first step toward meaningful change is to recognize your problem. Only then can you make the right shift. When I was $600,000 in debt, I needed to figure out exactly what got me there before I could fix the problem. Of course, I discovered many problems, which is to be expected when things get that bad. But the big problem we discovered, business-wise, was my margins. My margins were so thin that I had zero room for error. Only by recognizing that could I shift toward a better, more secure future.
No matter what you face moving forward, here are your four steps to a more successful future:
1. Identify what’s not working.
2. Set a new intention.
3. Plan and take action.
4. Get help, iterate, pivot as necessary, and repeat.