American Business Brokers - January 2022

6 SCIENTIFICALLY PROVEN WAYS TO BOOST YOUR BRAIN POWER

Is Neuroplasticity the Secret to Success?

Neuroplasticity is the brain’s ability to change and adapt throughout your life, forming new connections that can have a direct impact on your energy, productivity, focus, creativity, motivation, and much more. Your brain can expand and grow even after an injury. That’s why many entrepreneurs are saying the same thing: One of the smartest ways to invest in your business is to devote resources to your most important asset — your brain. But how do you keep your brain active, healthy, and functioning at a high level? Param Dedhia, MD, says six key areas are involved: sleep, exercise, joy, nutrition, internal medicine, and inflammation. All of these factors work independently, but together, they can promote neuroplasticity, which is why they all require equal attention. Everyone wants to stay engaged with the world around them, but you can’t do that without sleep. In fact, research published by the journal PLOS One discovered that getting six or fewer hours of sleep was associated with memory and executive function problems, i.e. problem- solving, planning, and execution. So, make sure you get enough sleep before tackling your day. Exercise is crucial because, according to brain plasticity researchers at IOS Press, exercise “alters the synaptic structure and function in various brain regions,” promoting brain growth and even delaying the onset of Alzheimer’s disease. Promoting growth can also be as simple It’s A Business IT’S NOT YOUR BABY All too often, I hear a statement from a business owner that makes me cringe: “The business is my baby, and I don’t know if I can sell it because I have had it for so long.” Please understand that I have a lot of respect and empathy for business owners for what they have accomplished and what they go through each day, but a statement like “the business is my baby” does not compute. Let’s stand back and be realistic about this. A baby is one of God’s most wonderous creations who exudes love and thrives on the love it receives. Watching a baby grow is a priceless event for anyone who has had the opportunity to bring one into the world. But a business is a different story. A business does not give you love, nor does it want love. It does want attention — a lot of attention, and the more attention you give it, the more it will generally respond in the form of financial compensation. But love? No way. As a matter of fact, I have owned a lot of businesses that I hated, and I think they must have hated me, too, because they almost broke me mentally and financially. I would have loved to burn them to the ground and gotten rid of them, because I never loved a single one of them.

(or as difficult) as focusing our attention on thoughts that bring us joy. Gratitude promotes very different brain activity than negativity, anger, or bitterness, and studies on gratitude show that the positive effects can be lifelong. Nutrition can’t be understated either, since it can assist your body in maintaining health and fighting inflammation. The brain uses about 20% of the body’s calories, and eating plenty of omega-3 fatty acids can strengthen brain cells, while antioxidants reduce cellular stress and inflammation, which are linked to brain aging and neurodegenerative disorders like Alzheimer’s disease.

With the right habits, you can keep your brain healthy for many decades to come. You might even grow in entirely new and unexpected ways.

business. You may love the money and the lifestyle, but not necessary the business. If you think I am wrong about this, just see what your thoughts are about the business when it isn’t producing the income you need to feed your family and provide the lifestyle you are accustomed to. You will learn then that you never really loved the business at all; instead, you want to get rid of the business and find something else to support you. What we find a lot of the time is the reason people say they love something is because of the law of familiarity, which states we like people or things that are familiar to us, which makes us feel comfortable. But comfortable and profitable don’t always appear in the same sentence. Sometimes we have to do things that don’t make us feel comfortable, but it is the right thing to do, like closing or selling an unprofitable business. The moral of the story is to never fall in love with a business or piece of property, because it can’t love you back. Pretty simple. So, when a business is not producing the financial returns that are needed and is not profitable, get rid of it. Sell it, close it, or give it away, but get it off the books, as we like to say. Do whatever it takes, but don’t think of it as a baby. Instead, you may want to think of it as an alligator, because alligators eat green (money), and that is not good. To learn more about addressing unprofitable businesses, send me an email with your mailing address to Terry@TerryMonroe.com and mention UNPROFITABLE and I will send you a FREE copy of my book, “Hidden Wealth: The Secret to Getting Top Dollar for Your Business,” which is affiliated with FORBESBOOKS, so you can learn what to do and not to do with your business.

If a business is providing for you and your family with the lifestyle you enjoy and producing the money it needs to support those things, then it is a good

–Terry Monroe

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