- What are your own goals that you are working towards
- Take some time out to visualise what you really want to achieve
- Google pictures that represent what you want to achieve. The more visual the better. This will help you to stay going when you need the extra motivation
- Put a time line on the goals you want to achieve. Without a time line they are just a dream, unlikely to be achieved
- If you have to work at something you don't like doing, start planning the date you intend to stop doing it.
- Your exit plan will help you stick it out until you can get on with what you really want to do.
- More businesses fail because the owner manager does not enjoy the work anymore.
- Your tone will set the tone for those around you.
- If you love what you do you will attract people who enjoy it too.
- A vision sets out the long term goal for your company
- Your vision represents the point in the future you are aiming to reach
- It helps to keep you focused!
- If you’re in business and you have people working for you and you want them to work with the same ethos as you then you got to set out what your core values are
- Write them down.
- Communicate them
- Live by them
- Most of all hold people accountable to them.
- It also helps other to describe your business to other people.
- It is the basis of a great tag line!!
- Create 4 tiers (you can decide the amount of tiers but don't have too many).
- Each tier should represent a revenue amount, i.e: Tier 1. €50k +, Tier 2. €30-50k. Tier 3. €10-30k. Tier 4. €0-10k.
- There should only be a few tier 1's. 3 is a nice number here... If u have too many, then change the value settings of your tiers..
- Look for trends within the tiers.
- Are they made up of a certain type of customer? If so that's great it will help you identify specific marketing channels to win more of them
- Decide on the few key metrics, 3-5 metrics is about right but you decide how many.
- Definitely include a financial metric (profit (gross or net), costs (cost of sales, unit production costs), contribution (bottom line revenue).
- The rest of the metrics can be anything you feel is important enough to focus on.
- Make sure everyone knows you are looking at these figures because if they know they are important enough to you then they are important for them.
- If possible develop a dashboard of these metrics and communicate them regularly (daily, weekly, monthly)
- You don't have to go back to college
- There are great one day programmes on all subjects imaginable.
- There are loads of group based development programmes that you could get involved in.
- Read a book, even one every two months. I guarantee that you will find at least one nugget that will improve your business.
Can you build a business without being passionate about it?The answer is YES……..
Can you sustain this business over the long term?The answer is NO……..
Are you ‘In Love’I meet so many business owners over the course of my work. Usually within the first 10 mins of any conversation with an owner manager, I can tell whether they are in love with their business or not.
Challenging yourselfUsually at this point I will challenge them about this and ask them what they really want:
- Do they want a business that turns a profit for the short term OR
- Do they want to build a business that is sustainable over the long term…..
Plug the dam or build it better?…We can usually fix short term problems…
- stop cash from leaking from the business
- concentrate on the existing revenues sources and make sure that they continue to yield an income and solidify over the medium term
Spot the Difference and be GREAT…..The difference between good consultants and really good advisors is that they will spend as much time trying to give the owner manager a feeling of personal satisfaction as much as business satisfaction.
Falling in Love Again….Often this is the first issue that needs to be tackled in making a business a GREAT business is to make the business owner FALL IN LOVE with their business again….
- to reignite the passion….
- to set a realistic but ambitious vision for the business..
- to give the business a real purpose again…
- give it guidelines within which to do its business (Values) and…..
- set fire to the company’s real potential.
Reigniting the PassionAt the centre of this is knowing what the company is best at.. What it really excels at, the products or services that it has built its reputation on or the ones that it knows will be relevant for the company and is excited about delivering in future.
So tell me what you want…..what you really really want….So which do you want…. A short term bump in your bottom line, quick fixes that address immediate problems or long term ambitions that makes YOU and your company come really alive….
If I can help you re-ignite the passion in your business or help you with a marketing plan – give me a call on 086 269 9111 or visit our website: marketmybusiness.ie