Everything grows in the right conditions! Flowers need warmth, water and air! But when it comes to our businesses, sometimes, we make things so complicated! We over think things; we worry; we make mountains out of mole hills. And sometimes we forget the essential elements.
Growing a business, whether from start up or moving it past the 5-figures and into 6 figures, is quite simple. I call them 5 essential elements - they aren't air and water but they are still essential to moving your business forward!
- Know what you WANT and make a PLAN to build it. Sometimes in life, it's hard to know what we specifically want & how to describe it with clarity. But please believe me when I say that finding the answer will make everything else fall into place .... What kind of business do you want to build? What kind of lifestyle do you want to live? Where do you see yourself in 5 to 10 years? We were all born into this world for greatness and to leave the world a better place. How will you impact the world? What will your legacy be? When you know these answers -- then you can make a plan, write some goals and desired results, and get into focused action! My son recently figured out what he wanted for his lifestyle -- living in Costa Rica during our winter months and then living as a fishing guide during the summer. Now he has a job in both places! It all came together quickly when he became CLEAR on what he wanted.
- Focus on revenue generating activities daily! You might ask what are those things? Well, it's NOT tweaking your website, but it is making phone calls. Revenue generating activities (RGA) are about doing those things that MAKE you money now! What if you spend ONE HOUR a day (often called the Power Hour) on the phone prospecting? How would that impact your business in one month? over a year? Could you commit to a POWER HOUR?
- Build relationships with prospects, clients and team members. Relationship building is key to growing a business and building a brand that demonstrates that you cares. It starts with a lead/prospect and how you nurture them to become a customer. AND it doesn't stop after they have purchased from you. That's when you need to turn that customer into a referral centre! Do you have a process for nurturing prospects, customers, team members? What if you spent 30-45 minutes per day on social media interacting and commenting on posts of prospects, clients & team members? Would that strengthen those relationships? Building relationships is MARKETING and marketing drives your business!
- Do something that is a little uncomfortable. Everyone of us makes decisions daily in our business and sometimes we hesitate to LEAP. We hesitate to stretch our boundaries and do something that is a little outside our comfort zone. But when we leap; when we take on those bigger jobs; or bigger clients; or bigger speaking engagements -- our business grows and we grow! If you can take that leap of faith, instead of being stalled in fear, that's when your business will grow! So each day, when you have a decision to make, ask yourself -- am I basing my decision on where I want my business to be in 5-10 years; or where I am in my business now? Say yes and leap forward!
- Keep your eye on your numbers! I'm a firm believer in focusing on what I do best. I don't do numbers well so I have a bookkeeper and an accountant. But that doesn't mean that I don't look my numbers!!!! I might delegate the actions but not the RESPONSIBILITY! The only way we can grow our businesses is by keeping track of our measurables (metrics). Whether that means income vs expenses; inventory levels; sales; profit margins, etc. we have to understand these numbers so that we can improve them. In fact, I'm so passionate about this that in November, I'm hosting a full day event entitled PROSPER!
I feel that I could write a book on each of these 5 elements and I apologize for not having more action steps but I didn't want this blog to be long & boring!!! However, if you would like help with any of these essential elements, take the leap and apply for a Business Breakthrough Session here .
My bonus essential element for you .... no one achieves success on their own! Look any successful person. They all build teams of caring individuals who have different strengths that they do. And, they also have hired a coach to help them be their best!
Grow, Prosper & Shine