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Entrepreneurial Success Starts With Training Your Brain

Entrepreneurial Success Starts With Training Your Brain

Have you ever read about the characteristics of a successful entrepreneur and wondered if you really have it in you to be one? On a bad day, many of us fall prey to self-doubt. The good news is that even if we fall short of certain qualities, it’s not the end of the world! Science tells us that we have the ability to turn ourselves into the people we want to be thanks to the wonderful phenomenon called neuroplasticity!

In fact, our brains can be thought of as malleable plastic — they are constantly being changed by our day-to-day experiences. In scientific terms, neuroplasticity refers to the “rewiring” of the neurons that process and transmit information in the brain, and the alterations that occur at synapses (the gaps between neurons that allow for information to be transmitted between them).

When it comes to neuroplasticity, one of the key things to keep in mind is that neural pathways (paths that connect different areas of the brain and nervous system) can not only be created at will, but can also be eliminated. Every time we learn something new or have a novel idea, a new pathway is created. The more we use this pathway (through practice and repetition), the firmer and more ingrained it becomes; likewise, the less we use it, the weaker it becomes, until it is eventually forgotten.

Neuroplasticity is important because it shows:

1. It’s hard to change a mindset and its accompanying habits, but it’s possible: think of your brain as host to countless nerve battles. Studies have shown that it is actually more difficult to unlearn a bad habit than it is to learn a new one — this is called competitive plasticity. The more we repeat a bad habit, the more control it has over a brain map; so naturally, old bad habits have a competitive edge over our new ones; the important thing is to keep going — your new habits will eventually win the battles!

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2. You always have the power to change yourself: No matter how old you are, deliberate practice, as well as rest and maintenance, can result in successful neuroplasticity. So if you think you can’t change the way you think, you are the only one standing in your way.

Do successful entrepreneurs think differently?

So our brains can be trained, but is there one specific entrepreneurial mindset that we need to aim for in order to become successful? While there isn’t one specific key to success, studies have shown that successful entrepreneurs do tend to have some cognitive processes in common.

1. An ambidextrous mind

An ambidextrous mind is one that is able to strategically go back and forth between two problem-solving strategies:

1. exploration (this is a creative approach in which your mind explores innovative new solutions/alternatives to problems)

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2. exploitation (this is a more logical approach in which your mind uses existing information in the most efficient way possible).

Research conducted by a team of MIT researchers suggests that being a successful entrepreneur doesn’t simply mean having the ability to switch between strategies, but also knowing the most optimal time to do so — it’s all in the timing!

2. The ability to embrace change and challenges

The brain scans of 30 entrepreneurs were compared to those of 30 non-entrepreneurs while they carried out various activities. It was evident in the study that when it came to rapid problem-solving, timely risk assessment, embracing challenges and seizing opportunities, successful entrepreneurs could be counted on to come first in a series of tasks.

Both of the above two points rely heavily on a person’s mindset. Want to have the mindset of a successful entrepreneur? You’ve got to work for it!

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Become the architect of your brain

In order to build up our physical muscles, we train them through a variety of physical exercises — we shouldn’t treat the brain any differently! Training the brain with mental exercises will help your neurons to develop stronger connections, and will prepare your brain to accept new connections a lot easier. Below are three ways that you can get started on training your brain for success.

1. Brain training games

There are hundreds of different games available that allow you to work on important brain functions such as memory; you can improve your intelligence while actually having fun! Lumosity is one such tool that encompasses a variety of games and activities for different aims and objectives; Brain Metrix is another.

2. Awareness

You have around 60 000 thoughts bombarding your mind every day, and you need to be aware of the ones that limit you. You need to be aware of your thoughts, (which collectively means your mindset) and catch the ones that are not aligned with your goals and then, replace it with one that is. YES, you will need to do this over and over again, but eventually, the new will become the old.

3. Mindset reinforcing tools

Consistently reinforcing your desired behavior and beliefs is crucial if they’re ever to become second nature to you. Repeating the thoughts you want to have and using tools that allow for subliminal messages of your choice to appear on your computer screen, for example, will allow you to work on making the necessary changes to your subconscious mind (the power of which should not be underestimated).

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4. Rest and sleep

In his studies of neuroplasticity, Norman Doidge observed the “Monday effect.” He noticed that the plasticity mechanisms being used by the participants on Mondays versus Fridays were markedly different. While the changes on Friday had more to do with strengthening neuron pathways, the changes on Monday had more do with the formation of new ones that took longer to form, but were more permanent.

Put simply, having a well-rested brain won’t necessarily help you learn things quicker, but it will help you make more permanent changes! Getting enough sleep, meditating and not being too hard on yourself can make a huge difference.

When it comes to neuroplasticity, learning how to keep going is key. Find the right techniques for you, keep at them and you’re eventually going to see results — science is on your side!

Featured photo credit: http://getrefe.tumblr.com/ via 66.media.tumblr.com

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Kirstin O´Donovan

Certified Life and Productivity Coach, Founder and CEO of TopResultsCoaching

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Last Updated on September 30, 2020

Effective vs Efficient: What’s the Difference Regarding Productivity?

Effective vs Efficient: What’s the Difference Regarding Productivity?

When it comes to being effective vs efficient, there are a lot of similarities, and because of this, they’re often misused and misinterpreted, both in daily use and application.

Every business should look for new ways to improve employee effectiveness and efficiency to save time and energy in the long term. Just because a company or employee has one, however, doesn’t necessarily mean that the other is equally present.

Utilizing both an effective and efficient methodology in nearly any capacity of work and life will yield high levels of productivity, while a lack of it will lead to a lack of positive results.

Before we discuss the various nuances between the word effective and efficient and how they factor into productivity, let’s break things down with a definition of their terms.

Effective vs Efficient

Effective is defined as “producing a decided, decisive, or desired effect.” Meanwhile, the word “efficient ” is defined as “capable of producing desired results with little or no waste (as of time or materials).”[1]

A rather simple way of explaining the differences between the two would be to consider a light bulb. Say that your porch light burned out and you decided that you wanted to replace the incandescent light bulb outside with an LED one. Either light bulb would be effective in accomplishing the goal of providing you with light at night, but the LED one would use less energy and therefore be the more efficient choice.

Now, if you incorrectly set a timer for the light, and it was turned on throughout the entire day, then you would be wasting energy. While the bulb is still performing the task of creating light in an efficient manner, it’s on during the wrong time of day and therefore not effective.

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The effective way is focused on accomplishing the goal, while the efficient method is focused on the best way of accomplishing the goal.

Whether we’re talking about a method, employee, or business, the subject in question can be either effective or efficient, or, in rare instances, they can be both.

When it comes to effective vs efficient, the goal of achieving maximum productivity is going to be a combination where the subject is effective and as efficient as possible in doing so.

Effectiveness in Success and Productivity

Being effective vs efficient is all about doing something that brings about the desired intent or effect[2]. If a pest control company is hired to rid a building’s infestation, and they employ “method A” and successfully completed the job, they’ve been effective at achieving the task.

The task was performed correctly, to the extent that the pest control company did what they were hired to do. As for how efficient “method A” was in completing the task, that’s another story.

If the pest control company took longer than expected to complete the job and used more resources than needed, then their efficiency in completing the task wasn’t particularly good. The client may feel that even though the job was completed, the value in the service wasn’t up to par.

When assessing the effectiveness of any business strategy, it’s wise to ask certain questions before moving forward:

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  • Has a target solution to the problem been identified?
  • What is the ideal response time for achieving the goal?
  • Does the cost balance out with the benefit?

Looking at these questions, a leader should ask to what extent a method, tool, or resource meets the above criteria and achieve the desired effect. If the subject in question doesn’t hit any of these marks, then productivity will likely suffer.

Efficiency in Success and Productivity

Efficiency is going to account for the resources and materials used in relation to the value of achieving the desired effect. Money, people, inventory, and (perhaps most importantly) time, all factor into the equation.

When it comes to being effective vs efficient, efficiency can be measured in numerous ways[3]. In general, the business that uses fewer materials or that is able to save time is going to be more efficient and have an advantage over the competition. This is assuming that they’re also effective, of course.

Consider a sales team for example. Let’s say that a company’s sales team is tasked with making 100 calls a week and that the members of that team are hitting their goal each week without any struggle.

The members on the sales team are effective in hitting their goal. However, the question of efficiency comes into play when management looks at how many of those calls turn into solid connections and closed deals.

If less than 10 percent of those calls generate a connection, the productivity is relatively low because the efficiency is not adequately balancing out with the effect. Management can either keep the same strategy or take a new approach.

Perhaps they break up their sales team with certain members handling different parts of the sales process, or they explore a better way of connecting with their customers through a communications company.

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The goal is ultimately going to be finding the right balance, where they’re being efficient with the resources they have to maximize their sales goals without stretching themselves too thin. Finding this balance is often easier said than done, but it’s incredibly important for any business that is going to thrive.

Combining Efficiency and Effectiveness to Maximize Productivity

Being effective vs efficient works best if both are pulled together for the best results.

If a business is ineffective in accomplishing its overall goal, and the customer doesn’t feel that the service is equated with the cost, then efficiency becomes largely irrelevant. The business may be speedy and use minimal resources, but they struggle to be effective. This may put them at risk of going under.

It’s for this reason that it’s best to shoot for being effective first, and then work on bringing efficiency into practice.

Improving productivity starts with taking the initiative to look at how effective a company, employee, or method is through performance reviews. Leaders should make a point to regularly examine performance at all levels on a whole, and take into account the results that are being generated.

Businesses and employees often succumb to inefficiency because they don’t look for a better way, or they lack the proper tools to be effective in the most efficient manner possible.

Similar to improving a manager or employee’s level of effectiveness, regularly measuring the resources needed to obtain the desired effect will ensure that efficiency is being accounted for. This involves everything from keeping track of inventory and expenses, to how communication is handled within an organization.

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By putting in place a baseline value for key metrics and checking them once changes have been made, a company will have a much better idea of the results they’re generating.

It’s no doubt a step-by-step process. By making concentrated efforts, weakness can be identified and rectified sooner rather than later when the damage is already done.

Bottom Line

Understanding the differences between being effective vs efficient is key when it comes to maximizing productivity. It’s simply working smart so that the intended results are achieved in the best way possible. Finding the optimal balance should be the ultimate goal for employees and businesses:

  • Take the steps that result in meeting the solution.
  • Review the process and figure out how to do it better.
  • Repeat the process with what has been learned in a more efficient manner.

And just like that, effective and efficient productivity is maximized.

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Featured photo credit: Tim van der Kuip via unsplash.com

Reference

[1] Merriam-Webster: effective and efficient
[2] Mind Tools: Being Effective at Work
[3] Inc.: 8 Things Really Efficient People Do

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