Small and Micro Business Owners Need to Improve Skills Says Retiring Bestselling Author Ed Ludbrook
Industry: Small Business
Auckland, NZ (PRUnderground) December 13th, 2017
Many small to micro business owners will continue to be vulnerable to outside factors which are beyond their control, such as legislation and competition, because they lack something as simple as personal confidence.
Commenting on the concept of ‘business confidence’ as an index, international bestselling author of more than two million books on network marketing, Ed Ludbrook, said one of the most important lessons he has learned is that confidence is the single most important determinant of success in any business sector.
“Fortunately, confidence is a direct result of competence,” said Ludbrook.
The award-winning network marketing business author and coach – whose books on building high-performance communities and networks to pioneer new industries and products has been translated into more than 20 languages – will certainly be felt by a sector he helped pioneer.
Asked about some of the most important lessons he has learned from working with small and micro-sized businesses at home and overseas, Ludbrook said taking direct, massive urgent action almost always leads to business success, but too many business owners lack the motivation that comes from confidence.
“Confidence – not self-belief because I don’t believe there is any such thing as self-belief – releases motivation, and motivation turns into action. The thing is, it’s normal to lack confidence; to be skeptical.
“After more than 20 years of working with countless business owners in the network marketing sector, I believe that just two percent of people have the confidence to take massive urgent action, and yet we take all our lessons from their successes because they’re the ones everybody hears and reads about. But they’re not normal.”
Ludbrook said he called the other 98 percent of people ‘intrapreneurs’ because they are naturally more introverted and need a system to give them the confidence.
“There are three types of confidence. Number one is inspiration, which is that you believe you can. This belongs to two-percenters. Number two is the confidence that comes from results because it shows you that ‘hey, I can actually do this’ and then there’s the confidence that comes from competence.
“If you’re a small or micro-business owner who wants to succeed – and by that, I mean earn a six-figure income, rather than a million dollars or more because that’s rare – then you need to get more skills because it’s only in becoming competent at something, that most of us find the confidence to take appropriate action.”
Ludbrook said competence-based confidence is a result of personal development and skills-based learning, which many small and micro-business owners ignore or don’t make enough time to do.
He offers three steps which can help business owners take action and take charge rather than becoming subject to the vagaries of what the Government or international markets are doing.
1. Build structure into the business.
“McDonald’s works because it runs on a system. Without structured systems and processes, you’re always going be chasing your tail.”
2. Never stop learning.
“Skills-based learning and professional development gives you the confidence to do something. The more you learn, the more capable of taking massive, urgent action you become.”
3. Get a coach.
“A coach isn’t there to do the work for you. A coach’s job is to help you learn the necessary skills; to get competent so that you can take action.
“Rather than focus on money and numbers during your incompetent phase, the focus should be on discovering your business through learning,” Ludbrook said.
The bestselling author and business consultant said he plans to turn his attention to crypto-coins and blockchain techs moving forward.
For more information visit https://www.ludbrook.com/.
About Ed Ludbrook
Ed Ludbrook Has sold more than two million books and audios, in more than 20 languages, on the subject of building high-performance communities and networks that pioneer new industries and products.
His focus is strategy, systems and leadership in the network marketing sector and is the recipient of a number of awards, including FTSE Company of Year, UK OFEX company of the year and NZTE Biotech Exporter of the Year.
Ludbrook’s current passion is the booming area of crypto-coins and blockchain techs, where he plans to build the World\’s Largest Crypto-Investor community.