April 2019 – Dr. Regina Banks-Hall, DBA, SHRM-CP

woman sitting on black chair near brown table — Photo by rawpixel.com on Pexels.com

As a business coach, professor, and leadership expert, I have the opportunity to witness up close, new entrepreneurs launch their business ideas. These entrepreneurs have fresh and exciting ideas, big dreams and a boatload of optimism. This excitement is contagious and their energy is overwhelming.

However, I have also seen individuals stumble, fall, and ultimately fail in their business pursuits. Sometimes, this happens, because success is a tricky thing, and not easily achieved. Therefore, if you are ready to launch into a new business, let me share five tips that will increase your odds for success.

#1 Keep your vision in sight. When things go wrong, you can use your vision to maintain your focus.

#2. Understand your competition. As a professor of economics, I share with my students all the time, that every business must understand the market in which it operates. Therefore, you must identify the competition, and determine how your business will compete.

#3. Provide a good service. It is important to know your capacity to deliver what you’ve promised. Therefore, do not overpromise and under deliver.

#4. Keep track of your expenses. As a new business owner, it is important to create a system for managing your expenses. Managing your expenses, allows you to track your progress and keep a handle on your debt.

#5 Hire a business coach. If you are starting a new business and are unsure of what you should do, hire a professional to assist you. There is no substitute for experience, and a business coach will provide the expertise you need.

If you are launching a new business, I recommend that you attend my workshop this weekend, (Saturday April 27th at the VisTa Tech Center in Livonia), entitled: “Handle Your Business.” See the video below for details.

Dr. Regina Banks-Hall

man wearing white sweater and black shorts about to run — Photo by nappy on Pexels.com

Today, I want to talk about the word GRIT. According to Merriam-Webster’s dictionary, GRIT is defined as, “firmness of mind or spirit : unyielding courage in the face of hardship or danger”. Angela Duckworth, Professor at the University of Pennsylvania in a Ted Talk, associated GRIT to the passion and perseverance you need to achieve long term goals. Perseverance, of course, allows you to maintain your commitment to overcoming obstacles that lie in the way of you achieving your goals.

As a motivational speaker, professor, author, leadership expert, and business coach, I beleive that our understanding of ourselves helps to define our GRIT. As people, we have to know how we feel about courage, our knowledge, our skills, and our ability to handle adversity. Often we can determine our grit when we overcome an obstacle.

As I look at the word GRIT, I agree with Webster and Duckworth, that it includes courage, perseverance, firmness of mind and spirit : unyielding courage in the face of hardship and danger as you pursue purpose and long-term goals. Therefore, examine your grit today, by examining yourself. Define who you are as it relates to courage, passion, purpose, and firmness of mind. Utilize your strengths to overcome adversity, and learn from your weaknesses to challenge failures.

We are all uniquely made, however, when we truly understand our GRIT, we can strategize for success.

Dr. Regina Banks-Hall President, RBH Professional Development Institute

Contact us today to learn about our leadership development programs, vision board workshops, business coaching, motivational speaking programs. Please visit our website at http://www.rbankshall.com to learn about our upcoming workshop, entitled handle your business. Let’s take what you know about your GRIT, and launch your dreams.

IMG_20190402_080233_348