New Year, New Business Approach

Wed, 04 Jan 2012

All business owners are aware that there are consistent activities that have to be done on a regular basis to ensure a good stream of inquiries, clients and ultimately sales. Often we get caught up in day-to-day activities and don’t devote enough time or attention to the less-glamorous tasks.  But these are often the basic building blocks necessary to have a vibrant, thriving business.  Now is the time to take stock of the activities that you engage in!  Is it time to refocus your attention?  Is it time to get back to basics?  Here are some of the areas that business owners typically put on the back burner:

  • How are you getting your unique proposition out to the right audience? Review your activities and avenues for the promotion of your message. Is this enough? Do you need to make any changes? You should do something every day to promote your business.
  • Are you staying on top of your industry’s changes?  You should be doing all you can to stay current with an eye on the future. Is your company still relevant? Do your clients think so? How do you know?
  • Do you spend enough time on your financial management tasks? Be responsible enough to know what is going on every day in your bank accounts, financial software, receivables, payables and taxes. If you have a bookkeeper--- that’s great.  However you shouldn’t relinquish your responsibilities. Always be asking questions. Don’t let bad news sneak up on you!
  • When was the last time you reviewed your company internal processes and procedures?  We all need a framework in order to conduct business. Are these rules client-focused? Or do they create obstacles to delivering a great product, or create service-breaks after the sale is closed? Are there opportunities to listen to feedback and re-work your way of doing things to make them better?
  • Who are your advisors?  Do the people you count on really know what you are all about?  Are they as involved as they should be? Do they praise you or provide you with effective, practical advice? It might be time to re-think who you rely on for support.

No one can be good at everything.  Particularly in business, owners must focus on many things. But if you are open-minded, realize when you need to seek help, and pay attention to the less- appealing activities that need to be done on a consistent basis, you can spot trouble early, and ride the wave of success!

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