If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask the CEO of several automotive franchise brands to discuss how to leverage obstacles to your advantage.
In this edition of “Ask the Board,” we feature Barbara Moran-Goodrich, the CEO of the Moran Family of Brands, which includes leading automotive franchise brands like Mr. Transmission, Milex Complete Auto Care, and Turbo Tint.
Throughout her entrepreneurship journey, Moran-Goodrich has faced many challenges, such as being fired from her family’s business by her father and sustaining a traumatic brain injury. However, she has turned these setbacks into stepping stones. Here are her tips to help you do the same.
Embrace change
Change isn’t necessarily a bad thing. In fact, it might be just what you need to grow your business. When life forces you off your current path, look at it as a chance to pivot instead of a roadblock. Realize that embracing change is often the key to unlocking hidden opportunities.
Remember, perseverance pays off
While it might be tempting to give up when the going gets tough, don’t. Remember, tough times don’t last, but tough people do. Use setbacks to fuel your determination and push through. Especially in business, persistence will set you apart.
Understand the power of self-belief
The journey from self-doubt to self-belief can be hard, but it’s also rewarding. By trusting in your ability, you’ll achieve the confidence you need to lead and thrive. Henry Ford once said, “Whether you think you can or you think you can't — you're right.”
Every major step in my career involved calculated risk-taking. It’s not about blind ambition but about strategically stepping outside your comfort zone with purpose to take advantage of new possibilities.Barbara Moran-Goodrich, the CEO of the Moran Family of Brands.
Practice emotional awareness
As business owners, it's essential to stay mindful of how we manage our emotions, especially during challenging moments. Our reactions, decisions, and even inaction can significantly influence those around us.
Taking time at the end of each day to reflect on how you responded to stress or discomfort can lead to greater self-awareness and more constructive responses in the future. Cultivating emotional awareness not only strengthens your leadership, but it also plays a critical role in your long-term success.
Take risks with purpose
Every major step in my career involved calculated risk-taking. It’s not about blind ambition but about strategically stepping outside your comfort zone with purpose to take advantage of new possibilities.
Take ownership of your business
Stepping into business ownership means embracing risk and with that responsibility. To succeed, you must create a clear vision and actively pursue it by holding both yourself and your team accountable for achieving meaningful results.
It starts with developing a solid foundation: Define your vision, mission, core values, key differentiators, and your overall business philosophy. These guiding principles will inform how you lead, make decisions, handle challenges and setbacks, and manage every aspect of your business.
Manage your thoughts
It’s easy to get caught in a cycle of overthinking, where internal conversations spiral into self-doubt, negativity, and sleepless nights. Just like emotional awareness, being mindful of your inner dialogue is essential.
Left unchecked, those unfiltered thoughts can shape your mindset and erode your confidence. Take time to recognize unproductive thinking patterns, challenge negative assumptions, and redirect your thoughts toward solutions and progress. Your mindset is one of your most powerful tools, so use it intentionally.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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