You're constantly thinking about, how do I grow my business? It just feels all too hard sometimes.
Managing a business can be hard, and sometimes we make it harder than it needs to be. We overthink everything, we worry too much about the staff, but we don’t give focus where it’s needed. You're constantly thinking, how do I grow my business. It just feels all too hard sometimes.
I talk to many business owners and when I ask them. “Why don't you spend time working “ON” your business rather than “IN” your business?” The answer is always the same; I don’t have the time.
The biggest assets your business has, is time, people and money. Money fluctuates, people come and go but the time is fixed.
I have mentored and coached many business owners and when I see a company not performing it comes down to lack of goals and lack of prioritising. Business owners are not spending enough time prioritising the revenue generating activities.
Time is fixed, so allocated it well. Allocate based on the 80/20 rule. 80% of your results will come from 20% of your activity. You should spend 80% of your time on sales and revenue generating activities.
Does spending 80% of your time on growing your business sound excessive? It shouldn’t. What is more important than the lively hood of your business? When you spend more of your time being pro-active, opportunities present themselves. Good things happen, and you gain momentum. When you spend time in your office, fixing problems, being reactive, talking to your staff you are wasting the precious asset that is time. Yet, you are wondering how do I grow my business.
So, if you want to build a thriving business, you need to make it a priority. Simple as that.
Here are some tips that will help you:
Set Clear Goals & Targets.
Without any goals to work towards your business is like a ship without a Rutter. There is no clear direction or clarity. Once you have goals and targets, you are in control. There is no more chaos, and you have clarity and direction. You are working towards something. Set your long-term objectives first. This goal will take years to achieve. The long-term goals influence your intermediate and immediate goals and targets. As Benjamin Franklin famously said, "if you fail to plan, you plan to fail."
Action & Implementation.
Now you establish WHO, is doing WHAT, & WHEN? Mapping this out on a one-page strategic plan will show you the big picture. You can identify the missing pieces. Which helps you connect the pieces into an action plan for successful implementation. The plan should include the goals across the primary business functions. Financial, Customer, Operations and Learning and Development. From there you map out the tactics and who is going to be accountable for them.
Identify & Prioritise What’s Important.
To ensure you are productive daily, and you’re working towards those goals. Use a method I call five by five. List out at the start of the day, or the night before. What five revenue generating / goal orientated activities you will action by 5 pm that day.
When you feel overwhelmed, overcome the pressure by establishing priorities. Prioritise these activities, no excuses; and they get done.
Every successful business I’ve worked with knows that establishing goals is integral to their success. If you want to build a thriving business, you need a strategic plan, end of story!
Our founder Caroline has created an 11 page, 7 step strategic mapping and planning checklist so you don’t have to struggle. It will also save you time and money. Click on the link to download your copy now.
You can also book a complimentary 30-minute strategy session with Caroline. She can help you set your goals and foundations for growth. You’ll gain clarity around building your thriving business.