Do you know what levers to pull in every area of your business so that you can influence performance and achieve the freedom and lifestyle you deserve?
Most businesses fail simply because they do not have a handle on each area of their business. Knowing what levers to pull and the questions to ask is essential to keeping ahead of the marketplace and taking you and your business to a new level.
Here are some of the key areas and questions you should focus on:
Vision
Do you know why you are in Business? Do you have a clear vision?
Your vision should be a clear and concise statement of where the business is heading and should cover any problem or challenge that arises within the business.
A business without a vision is directionless. Staff lack purpose or commitment and any roads to growth or improvements are blocked. If the vision is too small, the problems you solve will be so petty and minor and there will be no growth for you or your team.
The most successful organisations in the world have strong visions. For example, Apple is “committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings”.
Step 2: Communicate boundaries with your family
Often, significant others and children don’t realise that being at home doesn’t mean you always available to chat, have coffee, schedule lunch or play dates.
Have a conversation with your family to ensure they all know the importance of limiting distractions.
Communicate when it is appropriate to interrupt. Provide examples of interruptions that are “urgent and important” (e.g. emergencies) “important and non urgent” and “not important and not urgent” (e.g. where is my teddy bear?)
Set your boundaries and clearly enforce them.
Sales and Marketing
All the money is in the marketing of the product or service you provide. You can have the best product or service but this won’t make you any money until you are able to effectively market and sell to your clients.
Knowing which sales and marketing strategies work for your niche and ideal client will enable you to know what levers to pull in your business.
Culture and Environment
Is there a match between what people say should happen in your business to what actually happens?
What do people talk about in the kitchen or around the office? Are they upholding the vision and values of your business or are they saying one thing and doing something else. If so, these problems need to be addressed quickly before a “disgruntled cell” develops in your business.
Is your environment set-up to support your business?
Having the right tools in place (eg. phone, chairs, desks, computers) will enable your staff to successfully perform their role.
Delivery
Do you deliver the minimum for your clients or do you always go the extra mile and exceed expectations?
If you want a successful business, you must deliver massive value to your clients. According to the law of income, you will be paid in direct proportion to the value you deliver according to the marketplace.
Structure and Systems
Do you have effective structures set-up in every area of your business?
For example: operational manuals, key performance indicators and reports that give you a complete snap shot of how your business is performing so that you know what levers to pull for the week ahead.
Do you have systems in place for anything you need to deliver more than once in your business or do you find yourself trying to remember things and having to constantly re-invent the wheel?
People
Having the right people around you is critical in any business. Do you hire staff and suppliers who have high discipline, standards and values? Are people provided with the right mentoring and training to successfully perform their role?
I recommend you get your business assessed in each of the areas by a trained Business Mentor as soon as possible.
Please contact me for a chat and free 30 minute business diagnostic.
