What are the top 10 small business essentials?
These top 10 small business essentials are the difference between businesses that flourish and others that struggle. I have worked with small business owners for almost 8 years as a business coach and mentor. Over that time I have analysed the main issues that make a business successful. I have also sought to understand why other business owners struggle to grow their business. There are many factors involved and priorities vary from one business to another. However, I have come up with the top 10 small business essentials that you must get right if you want a growing business
The Top 10 SMALL BUSINESS ESSENTIALS
|Key Element||Content Covered|
|1||WHO are you?
IDENTITY & VALUES
|Knowing yourself well. Winning over your main competitor – “YOU!” You are the best asset and the biggest threat to your business. You need to know and learn to work with your strengths, weaknesses, and values. Know and become secure in your preferred leadership, decision making and communication style.|
|2||WHY THIS Business? PASSION||Unlock your passion. Business is challenging. Only passion (and good friends) hold you during the tough times. What is your WHY that gets you up every morning? This feeds into your vision for your business.|
|3||WHAT do you do? MISSION||What business are you in? Whether you sell a product or service what is the key reason behind what you do? What makes you different? How do you make sure you are great at what you do? What do you need to learn?|
|4||WHO do you do it for? MARKETING||Who is your ideal client? What value do you add to them? What do you need to know about this customer/client? How do you make sure they know you exist and trust you enough to buy from you?|
|5||HOW do you deliver your product/service? BUSINESS MODEL / STRATEGY||What is your business model? Is it the best business model for your business? How do you make it work really well? What is your strategy to achieve your goals and fulfil your mission?|
|6||HOW do you win? SALES Process||How do you create an effective sales process and plan to make sure you grow your business?|
|7||WHAT goes on your Business Dashboard?
MEASURES / NUMBERS
|Getting on top of your numbers. What aspects of your business are critical to measure to keep your finger on the pulse. Dollars – budget, turnover, and profit. Leads, prospects, conversion rates, and cost per lead. What else?|
|8||WHO helps you? TEAM||Which skills, what type of person do YOU need, in what order, to help you grow your business? What is the best way to source people? Do you have leadership and management skills? How do you make sure you are NOT the bottleneck slowing your business growth?|
|9||HOW do you replicate what you do? PROCESSES||How to capture the processes for each and every repeatable task in your business? How to make sure you learn, record, review, teach, and then constantly review processes.|
|10||HOW do I exit my business? FUTURE PROOF||What is the life cycle of your business? Where is the true value in your business? How do you future proof your business? What are your exit strategies?|
These are the top 10 small business essentials that MUST be understood and implemented to lay the foundation for a successful business.
Top 10 small business essentials forms the basis of my Group Mentoring Program in 2018. If you live in Sydney come and join this mentoring program. We will ensure you lay (or reset) strong foundations for your business, so you will be able to grow. This is more than learning information. It will be all about implementation. Making the right changes that will start your business moving forward strongly.
And, what’s more – we will make sure you adopt a ‘whole of life’ approach that will help you build a successful business AND create a great lifestyle for yourself and your family.
Finally, would you add or change anything to my top 10 small business essentials?