If you are a business owner, you should have an image of a business
full of customers and prosperity for the coming year. Imagine
looking back on this time next year and saying … "Wow, I have
accomplished so much. I have tightened up my business
practices, attracted the right clientele, put goals and
measurements in place to target, identified my competitive
advantage, kept my office organized, exercised and ate correctly
while maintaining a sense of balance in my personal life. I
never thought it would happen but it has, it is!”
So what’s the magical answer to the “wonderful life” … business
combined with life planning. This is the task of organizing
your business and personal life so both run in tandem and
effectively. Is it real? Is It true? Yes and yes.
Are people really doing this effectively? Yes, again.
Business owners have the future in their hands. Everyday they
direct their business action and development with one or more of
these methods. There are those who:
-
A.
plan for the future
-
B.
plan for nothing
-
C.
wait and see
-
D.
avoid risk
-
E.
risk it all
Which are you
now? Which do you want to become next year? I personally
choose A.
If you have any
one of these “red flag”
business growth issues, its time to rework your plan for the new
year. Without a plan, you can expect times of frustration and
anxiety with the feeling of not knowing what to do next.
By doing the same
task, you will achieve the same results. If you like your
results right here right now, great. If not, you have the
power to change it, right here, right now.
“Red
Flag”
Business Growth Issues
-
Inadequate financial data
Keeping track of how much money is on hand and owed.
Maintaining detailed records that are current. Waiting until
the year end to record all of the past year's activity.
-
Failure to control cost
Costs are not only pens an pencils but include the process cost of
actual labor hours (yours) expended to complete a job. The time it
takes you to meet with a client and complete the job is cost to
the project and cost to the business. Are you networking to the
point that you can’t get things done and are not attracting
business?
-
Lack of sales and poor customer relations
In a
world where consumers have a choice, you want the choice to be
you. Controlling customer service, sales and service level
from the customer’s perspective.
-
Failure to professionally train yourself or your employees
You as
well as your team need to keep growing professionally in your
industry as well as personally. This will help create a feeling of
ownership and control. Plus, customers want to do business with a
person who is on the forefront of life and business.
-
Improper strategic planning
Creating realistic goals and formulating a plan to measure and
achieve them. This includes setting milestones and
deadlines.
-
Track key business factors
Placing the proper business processes in place to track prospects,
follow-ups, networking groups and other business conditions.
-
Physically unhealthy or feeling burned out
Without you in the business, there is no business. Lack of
exercise, sleep, nutrition, personal time or family time or that
burned out feeling. Get back on track before it’s too late.
You do have time for all of the above. It’s vital to keep
this part of your life a priority.
If you think you are experiencing any of these issues, you will need
to take a comprehensive look at your business and personal life from
a review perspective. This has to do with performance in
current and prior years as well as how effective other key factor
areas have been helping or hurting you. Setting boundaries and
getting organized are two of the keys for success.
Next, put a detailed plan together for the next year month by month
with measurement factors. This will aid you in staying on
track and realizing that down months are not really down in relation
to the year as a whole.
For some business
owners, this is a daunting task in which frustration sets in early.
If you need help moving to this level, please contact Sandra Larkin
to jumpstart your new year with a comprehensive business plan.
Otherwise, enjoy
the journey. You only go around once to make the most impact
in the business community as well as your financial future.
Top of Page
