Exploring the hidden costs of perfectionism in business, the podcast discusses different types of perfectionism and how to set guardrails to combat its negative impacts. Strategies for overcoming perfectionist tendencies include setting deadlines, seeking external accountability, and embracing imperfection for growth and success.
Recognize excellence-seeking and failure-avoiding perfectionism to implement guardrails in business.
Perfectionism can lead to inefficiencies, missed opportunities, and hindered financial success in small businesses.
Deep dives
Perfectionism in Business and Its Hidden Costs
Perfectionism in business can manifest in various ways, leading to detrimental outcomes such as burnout, stress, and anxiety. Research identifies two distinct types of perfectionism: excellence-seeking, involving high standards for oneself and others, and failure-avoiding, characterized by a fear of not meeting standards. Recognizing these tendencies is crucial to implementing guardrails to mitigate the negative impacts of perfectionism.
Effects of Perfectionism on Time, Energy, and Decision Making
Perfectionism can result in indecisiveness, procrastination, and excessive tweaking of projects, draining valuable time and energy. Unfinished tasks and projects due to unrealistic standards can impede progress and hinder returns on investments. Hyper-focusing on one task at the expense of others can lead to inefficiencies and overlooked opportunities for growth.
Financial Implications of Perfectionism
Perfectionism can drive individuals to continuously seek more knowledge or resources before taking action, resulting in missed opportunities or delayed launches. Investments in programs or courses may not yield returns if action is stalled by the pursuit of unattainable perfection. The fear of failure and the quest for perfection can hinder financial success and growth.
Perfectionism's Impact on Health, Relationships, and Self-Esteem
Perfectionism can manifest as stress, poor sleep, and exhaustion, affecting overall well-being. In relationships, high standards can lead to friction and misjudgments of others. Self-esteem issues may arise from setting unrealistic standards and constant pursuit of perfection, detracting from joy and fulfillment in the journey towards success.
I dive into the different kinds of perfectionism and how you can use guardrails to curb your perfectionism tendencies so you can stop sabotaging yourself and your business!
What You’ll Discover In This Episode:
✔ How Perfectionism Shows Up In Your Business
✔ What Excellence Seeking Perfectionism Is
✔ What Failure Avoiding Perfectionism Is
✔ How Perfectionism Is Costing You
✔ Strategies To Construct Guardrails For Your Perfectionism
P.S. Want to discover what’s most holding you back in business and receive a personalized playlist to help you overcome those specific challenges? It only takes a few minutes to take the Next Level Business Owner Quiz and get on the path of taking your leadership and business to the next level!
And… If you want help managing your time, creating efficiency, making a new hire, reducing the stress and overwhelm of running a business, or making strategic decisions that will help you level up your business, I’d like to talk to you. Let's discuss how we can partner together to help you get unstuck, reduce stress, and determine a clear path to increased profits! Schedule your Discovery Call
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Listen to the best highlights from the podcasts you love and dive into the full episode