Episode 265: The Fundamental Equation of Business Success with Kevin Stansfield
The Fundamental Equation of Business Success with Kevin Stansfield
When it comes to entrepreneurship, many people take the bold step of leaving their jobs to pursue their dreams of becoming their own boss. Too often, these aspiring entrepreneurs end up becoming proverbially enslaved to their own businesses. Kevin Stansfield is a seasoned entrepreneur and business coach on a mission to liberate fellow entrepreneurs from the shackles of their businesses. He witnessed his father's life consumed by a business bought on a whim from a pub stranger, sparking his commitment to help others avoid such pitfalls. With experience as a financial director in major companies, Kevin realized that business shouldn't be a personal burden; it should be enjoyable and rewarding. He leveraged this insight to drive impressive growth, including taking a company from £2 million to £36 million in revenue and assisting a startup sold for £15 million. For over 16 years, Kevin has coached 300+ business owners, enabling them to work less while earning more.
THE FUNDAMENTALS OF SUCCESS
Kevin's coaching philosophy revolves around a simple yet powerful formula: BE x DO = HAVE. Let's break it down:
1. BE (Belief): This represents the internal aspects of an individual's journey, including their beliefs, thoughts, knowledge, and skills. Belief plays a crucial role in shaping one's actions and determination.
2. DO (Actions): These are the physical steps taken to achieve specific goals. Entrepreneurs are known for their "doer" mentality, but it's essential to ensure that these actions align with their beliefs and aspirations.
3. HAVE (Goal): This is the ultimate objective or vision that entrepreneurs strive to attain. It encompasses not only material achievements but also personal fulfillment and impact. All three components are vital for success, but one stands out as the most important.
According to Kevin, it's the "BE" – your internal beliefs, thoughts, and skills. Your mindset and self-belief are the driving forces behind your actions and, ultimately, your achievements. The equation BE x DO = HAVE serves as a valuable framework for understanding the dynamics of entrepreneurial success. Belief, action, and vision are interconnected, and balance among these elements is essential. Entrepreneurs who start with a clear vision of what they want to achieve and align their actions accordingly are more likely to overcome challenges, break through plateaus, and realize their goals. As you embark on your entrepreneurial journey, remember that success is not just about constant activity or being overly busy. It's about finding harmony between your beliefs, actions, and aspirations.
CHECK OUT KEVIN’S BOOKS
In the ever-evolving world of entrepreneurship, Kevin's wisdom and coaching expertise continue to inspire and guide countless business owners towards greater success. That wisdom expands into the books he written. Be sure to check out his books: * The BIG Dipper: How to Survive the Rollercoaster Ride of Business Ownership * The Great Game: How Lessons From The Great Game Of Golf Can Help You Win The, Equally Great, Game Of Business •
FOR MORE ON KEVIN STANSFIELD:
Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!