10 Tips to Grow Your Business Plain and Simple
by Beth Tabak
“Try not to become a man of success but rather to become
a man of value.” Albert Einstein Recently I heard a statistic
that the majority of businesses operate at 60% of their
potential. While I was unable to obtain the source of that
statistic it seemed rather accurate or maybe even high.
The Small Business Association reports that “2/3 of new
employer firms survive at least 2 years, and about 1/2 survive
at least 4 years.” The language they use is almost as scary
as the statistics themselves. This article provides tips
to help you develop and grow a strong, solid business foundation.
1- Solid Plan with a Clear Simple Vision-
Think of the impact you would like your business to have
in the world. Think big! You may never reach your vision
but the vision itself is so grand that your team gets excited
about it. Then back up and look at what would have to happen
to get there. Create a solid plan with realistic short and
long term goals.
2- Focus on Profitability vs. Revenue-
While revenue is important, high revenue doesn’t add value
if your expenses are just as high. What can you do to create
more profit? Possibly develop various streams of income.
What expenses could be reduced or eliminated? How can you
operate more efficiently? Think profit.
3- Work “in” and “on” your business-
Sometimes we get so caught up in daily tasks “in” our business
we forget to step back to take a wider look from the outside.
Seeing it through a customer’s eyes. Noticing how it fits
into the community. Preparing the future of the company.
On the other hand, we can get so comfortable working “on”
our business we forget to step in to talk with customers
and experience what the employees face on a daily basis.
4- Automate and Create Systems-
What do you need to automate? What system can you put in
place that would free up your time or make you more money?
What tasks need to be eliminated, systematized, or delegated.
What system would help your employees be more effective
and provide the best service? Finally, is there a system
that needs to be upgraded? Automation and systems help your
business be consistent and efficient.
5- Consistent Marketing Plan-
Marketing expert Jay Conrad Levinson of Guerilla Marketing
has said that “I hate to admit this, but mediocre marketing
with commitment works better than brilliant marketing without
commitment.” It is important to have a marketing plan in
place that is consistently and persistently being carried
out on a daily basis....not just when you need more customers.
6- Increase Value to Your Customers-
Give more than your customers ask for...more than they expect.
There are 3 convenience stores by my neighborhood. The first
one built I visited regularly and was satisfied. Nothing
unique. The second I visited less than a handful of times
and had to wait every time to get checked out so haven’t
been back in years. Every time I get gas at the third store
I am greeted over the intercom with a friendly “Hi, how
are you today?”. When we go inside they are friendly and
always provide my kids with a free lollipop. They even added
a Post Office inside. Who do you think gets my money on
a regular basis and with very little effort or money on
their part? The one that gives more than I expect. What
added value can you provide that will increase your “Wow”
factor?
7- Innovate-
React to the customer’s needs before they know they need
it. Instead of selling what you want, sell what the customer
needs. How do you know what they need? Take time to talk
to them. At a minimum talk to your best customers and learn
from each one you’ve lost. Find out what they would like
and what their challenges are. Stay current on market trends
in your industry.
8- Leadership vs. Management-
Empower your staff to manage themselves. Do you really want
to spend your time problem solving? Train them well. Make
sure they know the vision of the company and they are on
board because there is a personal win in place for them.
The personal win gives the employee motivation to cooperate
as part of the team.
9- Well Oiled Machine vs. Chaos-
Is each section of your business operating efficiently while
working together towards the common goal? Or are the members
of your team expending time and energy daily putting out
fires. What change can you make to shift your business out
of crisis/ problem-solving to operating with ease?
10- Develop YOU! -
Take a minute to hold your breathe. As you hold your breathe
think about what you really want. See what happens. Unless
you are uniquely talented you probably had trouble thinking
about what you want....because your needs were not being
met. When you take care of yourself... feel strong, healthy,
happy, and have time and space in your life...you can focus
on what you want and attract more to your business. Take
one step at a time and build a strong, solid business. Along
the way build lots of reserves...time, money, space, revenue
sources, future products, etc. and begin filling the gap
to your potential. Today’s Dare to Take Action Challenge:
Focus on one tip above for one week. What changes can you
make? Take action on one, build momentum, and move on.
About the Author
Please send your comments and tell me what you want to read.
l would love to hear from you! Copyright 2003, Beth A. Tabak,
All rights reserved. Beth Tabak may be contacted at
http://www.startingnowcoaching.com. Beth Tabak is a
Business & Life Coach and owner of Starting Now. She coaches
busy business people to achieve more with less stress and
struggle. Contact Beth to set up a free “Try It Out” session
to see what coaching can do for you. Copyright Usage: Thank
you for your interest in my articles. Please print in full
and include links to my webpage and e-mail. Wishing you
success!
|
