Overwhelmed with so much to do? Does the thought of an employee taking a day off worry you? Are you working harder with less to show for it? Does it feel like all your revenues support everyone but you?
Look… You’re tired of watching margins shrink and bottom line profits dwindle to levels that make it seem pointless to even run a business at times. If that’s not enough, you have more to do and less resources to do it with. Knowing what to do and when to do it are one thing. Knowing who should be doing it so it makes the most sense to your business is a whole other thing. And it isn’t just you experiencing this… Look around! It’s everywhere. But does that mean you should keep on banging your head against the wall doing things the way you always have done them?
NO! In fact, you’ll be as extinct as the dinosaurs if you play the game of business with that mindset. It’s time to GET YOUR BUSINESS OPTIMIZED!
We have all heard the ‘ol saying, “Cash is king,” right? Well, it’s back! And it’s back with a vengeance.
As cash from credit sources has been evaporating at alarming rates, some entrepreneurs realized, too late for some mind you, that the only REAL source of cash is pure profit on cash collected (assuming they pay their bills). Yes we are talking about the kind of money they can touch and feel, not the kind that shows up in the accounts receivable section of a balance sheet. They know they need to effectively manage their costs and their profit. And you know that too.
What’s sad right now is that without deep pockets, survival is nearly impossible unless a properly planned and executed strategy is deployed.
THAT’S WHY YOU NEED TO BE OPTIMIZING YOUR BUSINESS PROCESSES NOW!
The game you are in right now is still the same game you were playing way back when. You produce things (products and services) that people need/want and they are supposed to buy them, right? But the season… Ah yes the season… The season has changed massively and you must figure out how to play the same game with the rules of the new season. Heck, even in the NFL, the rules keep changing and players that were once great at their job are having a tough time playing by the new rules. To survive, they must learn the new rules too!
With so much information driving people’s behaviors, you must rethink how you communicate with your employees so that they in turn represent you and your business in the best light possible. That requires a robust set of well documented processes that optimize both time and money required to fulfill on your products and services. You cannot simply ramp up your existing efforts and expect better results without looking hard at how you operate. That won’t happen! To top it all off, you need to know the line between cutting edge and bleeding edge. Do you know the difference?
In its most simplest form, it’s the means through which any business accomplishes it’s mission and objectives. Your mission is your view of what you want to “do” and “become” over a long period of time. Your objectives are specific and measurable targets that support your mission.
Sound like gobbledygook?
We live in a world today where there is little time for planning. And planning is hardly considered a valuable exercise. We are hell-bent with only one thing on our minds… to reach business success as fast as we can.
I think the majority of owners take actions as though they are in the entrepreneurial world series; with time being an extremely scarce resource… even viewed as a competitor at times.
You and I do not have the time, that’s true. But there is another side to it as well. Most business owners do NOT make time to plan!
I believe that business owners can and should MAKE time for planning – regardless how difficult it might seem.
Make no mistake, your competitors are looking to out think you because those that adapt to the changing rules the fastest will thrive. The rest will go the way of the dinosaurs.
So where is your thinking? What are you doing right now that your competitors haven’t even thought of? What improvements can you make in your business today that will pay you long term dividends? Do you care? YOU SHOULD!
So if a new strategy is so important, and you’ve not really done this before, what are the steps necessary to craft one that works? Strategy is all about figuring out what work you should be doing that will help your business not only survive but thrive in the given economy. And what’s most important to know, you can change your strategy when the times change. It can be a fluid thing, which is why it’s important to revisit it often. This is the cornerstone to being successful longterm! You can no longer take a “build it and they will come” approach. Not anymore…
Here are the top 5 things YOU need to know about your prospects to craft a business strategy in today’s environment:
If you can answer these five questions above, you are 90% ahead of your competition already. Most businesses simply don’t. Or worse yet, choose not to. “What they are doing is known as short term thinking.”
When you confidently know your businesses capabilities, AND you know what, how, when, and why your prospects buy, you have the makings of a long term profitable business venture. Now don’t get me wrong, there are many more elements about your business you need to know for success to be possible, but you get the idea right?
I’d like to finally point out that with all this great knowledge, comes the realization that many things must be done right, in order to succeed. That success will ultimately be dependent upon your ability to manage many moving parts simultaneously. That looks an awful lot like “project management”, doesn’t it?
Well, that’s because it is. If you are a fairly organized person who can visualize what needs to get done, put a plan in place to do it and carry it out, great! If on the other hand you are not, then get help immediately. Your ability to succeed is greatly dependent upon your ability to manage many moving parts, we’ve established that. So if that’s not your strong suit, get help!