If there’s one thing that I’ve known to hold me back every once in a while is fear; the fear of failure to be specific. As human beings, we all have weaknesses of which sometimes cause us to fail. As a result we find ourselves avoiding to act or take risks all together, that would otherwise propel us onto the path of greatness. It is important as an organization & even from the individual level, to perform a gap analysis. This is the comparison of actual performance versus the desired performance. Through a gap analysis, strengths and weaknesses are discovered. You must know yourself to grow yourself.

Here are the five most common traps that could prevent you from reaching your goals, and the strategies that will help you avoid them;

1. Lack of ambition

Ambition is defined as the desire and determination to achieve success. The definition of “success” may vary from person to person and culture to culture, but the message remains the same: it’s important to have goals and the determination to complete them. Lack of ambition comes about where there is lack of a well-defined purpose in life. It’s when you don’t dare to dream anything for yourself. When you don’t want to imagine your future in a different way from today. There’s little to no hope of success for those who do not want to get ahead in life, and who are not willing to pay the price that comes with it. So, be a risk-taker who embraces every opportunity to learn from their mistakes. Celebrate your successes big and small. Ditch the excuses that hold you back. Expand your network, this will help you partner with others who are also ambitious and can help you elevate your game. Establish your baseline and set goals that allow you to move the needle each time. As the statement attributed to one Roman philosopher goes, “Luck is what happens when preparation meets opportunity”

2. Procrastination

The minute we say ‘Maybe tomorrow’, then we may end up not doing it at all. One thing I believe in is the power of starting. A journey of a thousand miles begins with just one step. For example, you may not have been tax compliant in the past. Timely tax submission or the lack there of can be detrimental to you and your business. Lucky for you, we can help. Let us come in and clear out the mess. What’s holding you back? Finance is the backbone of any business and it serves as a company’s source of cash flow management. From basic budgeting to complex accounting activities, finance is an integral part of running a business by ensuring it’s compliant with the government and regulation. Whichever level of the business journey you are in, let Vinestalk come and plug in

3. Lack of consistency – The rule of 5!

The Rule of 5 refers to the 5 main activities that one must consistently do to drive them towards achieving their main goal. Therefore, you need to first determine what is your main goal and note down 5 activities that if you consistently do, will lead you to your destination. Motivation gets you going, but discipline keeps you growing. Most of us are good starters but poor finishers. I always establish my RULE of 5 and live by them in terms of activities that I need to be undertaking every day to help me accomplish my goal. Let financial management be among your RULE of 5 if you want to avoid moving blindly. And Vinestalk is ready to be your financial partner.

4. The power of association

It’s hard to improve when you have no one but yourself to follow. You just need to find mentors in people ahead of you in whatever you want to achieve, and skilled individuals who can bridge your knowledge/skill gap, and you’ll be halfway there.

5. Decisions…Decisions…Decisions….

When we’re faced with a decision to make, we first need to understand the background of what’s at hand and ensure to get all the data we can about it. Decisions need to be backed by analysis of the facts, and not driven by emotions. A systematic way in which you can achieve this is through;

a. Evaluating all possible alternatives.

b. Carrying out a cost benefit analysis.

c. Making of a decision as per where the most benefit lies.

d. Evaluating the impact of your decision later on, to establish the effectiveness, and for future reference as well.

All in all, look to surround yourself with people such as Vinestalk; who can provide information and let you in on the best financial strategies and planning in line with your objectives, to truly succeed and take control of your future as an individual and as an organization.