Business Mastery Chapters 1-4 Flashcards

Goal Setting and Planning

• Goal: The aim or desired result that a person strives to achieve.
• Priorities: The main focus areas in goal setting that determine allocation of effort and resources.
• Purpose: The overarching direction guiding goal formulation.
• SMARTER Goals: A framework for effective goal setting consisting of Specific, Measurable, Achievable, Realistic, Timelined, Enthusiastic, and Rewarding criteria.
• Strategic Planning: A structured approach to envisioning a future and defining the steps to achieve certain long-term goals.
• Goal Setting: A proactive method to outline expected achievements and the pathway to realize them.

Personal Development Concepts

• Creative Visualization: A technique for envisioning success and achieving desired outcomes through the power of imagination.
• Morals: Standards for judging behavior, distinguishing right from wrong.
• Principles: Individual behavioral guidelines that ensure integrity and ethical conduct.
• Values: Deeply held beliefs regarding what is worthwhile or desirable, beyond mere correctness.

Professional Skills and Ethics

• Professionalism: The qualities that demonstrate reliability and competence in a professional context.
• Boundaries: Personal limits that foster comfort and safety, separating oneself from external influences.

Behavioral Insights

• Attitudes: Individual dispositions reflecting positive or negative evaluations toward various aspects of life.
• Beliefs: The foundation of trust and confidence in oneself or in others.
• Habits: Established behaviors performed almost automatically, impacting productivity and effectiveness.

Business Efficiency and Management

• High Priority Activities: Tasks that yield the most significant results, aligned with the Pareto Principle (80/20 rule).
• Key Business Indicators: Metrics employed by businesses to assess performance and reach strategic goals.
• Logistics: The coordination of daily operations essential for smooth business functioning.
• Marketing: The process of sharing personal or service-related information to attract and inform potential clients.

Psychological Aspects

• Motivation: The underlying reasons driving individuals to behave in certain ways.
• Procrastination: The tendency to delay tasks intentionally and repeatedly, often impacting productivity.
• Self-Sabotage: Negative internal dialogue that diminishes self-belief and hinders personal growth.
• Inner Critic: The voice within that expresses doubt, often leading to decreased motivation.

Adaptive Strategies

• Defense Mechanism: Unconscious psychological strategies developed to manage emotional pain and anxiety.
• Reframing: The technique of altering the perception of a situation to change its emotional impact, leading to a different understanding.

Risk and Success

• Risk-Taking: Engaging in actions involving potential danger or loss to pursue a goal.
• Success Markers: Milestones that indicate progress toward achieving set goals.