The list of ways to improve your business could go on forever, but today I want to focus on 5 key principles you should implement into your model.
Where are you going?
It’s like going on a road trip. You need to have a map, GPS or an App to tell you how to arrive in the right place and on time.
In business, a map is needed as well. It’s a planned route directing you in the right direction, keeping you focused on the objectives and protecting you against costly mistakes. If you haven’t guessed it already, it’s a business plan. Know what you have, what you want and how you’re going to get there. You can always take detours along the way, but a plan is still necessary.
This is a tricky one. Depending on what industry/trade you’re in, this one can play games with you, make fun of you and put you to bed early, and not even read you a bedtime story. It’s imminent that you pay attention to what you’re working on and how it relates to your businesses bottom line.
Making a list is always a smart way to ensure your priorities are in order and stay in order. There are also many different time and project management apps/programs out there. We use Basecamp and Evernote for helping stay organized.
That’s a scary word that usually is the result of a business failing. Not having your finances in order can be extremely detrimental to your business. You need to have a relationship with your finances, knowing about all incoming and outgoing capital, what is being spent, why it’s being spent, upcoming expenses, reoccurring payments, outstanding invoices…etc.
I find a very useful tool for keeping this portion of the business in order is Mint.
Although the bricks and mortar location is important, thats not what I’m talking about here. I mean, are you online? If not, get there.
I’m not saying get on all the social sites (although being on some would help with potential leads and customer engagement). I’m saying start with a website.
At the rate we’re evolving, if you’re not online , you will end up running backwards down a hill (don’t try that, the results aren’t pretty!!). Understand that your current and potential customers are online, so it seems like a no-brainer (or at least it should).
Did you think for a second that a CMO and Partner of a marketing agency would make a list of essential business musts and not include marketing? LOL.
Although I’m biased, it’s vital to your business to have a plan of action how how to identify opportunity, create opportunity, how to translate leads into sales, and how to build out a campaign to increase brand awareness which, in turn, will create brand loyalty and advocates.
You also need to know how to effectively communicate with customers online, gather insight and feedback, and then put that into a strategy to not only make your customers happy, but to create longevity for your brand. This section could turn into another post altogether, so I will stop here.
Don’t forget, as you grow and evolve in business, one things needs to remain strong – your attitude! You need to be, keep and stay positive throughout the journey. It’s going to be easy to throw in the towel, but thats what separates winners from whiners.
“To do more for the world than the world does for you, that is success.” Henry T. Ford.Tags: business, entrepreneurs, marketing