Do you have these 5 Small Business Essentials clear in your mind and plans for 2018?
1. One of the things I see time and time again in speaking to business owners is they have lost sense of who they are. This makes sense. You’ve worked really hard, and let’s face it, starting a business is a bit like giving birth. However, if you want strong sustainable growth we need to get you back in touch with who you are so your business can do what you need it to do.
Small Business Essential No. 1: Know WHO YOU ARE!
You need to become secure in your own identity, knowing your strengths, weaknesses, and values. Insecure business people cannot say ‘No!’ They struggle to be confident and stick to a plan. They are always responding and often repeating mistakes.
2. I am finding that most people go into business looking for their own version of freedom, flexibility and fulfilment. However, before getting to enjoy those rewards there are inevitably tough times. Small business success does not come easily to anyone. In those tough times you often wish you just had a job so you can go to sleep at night.
Small Business Essential No. 2: Know your WHY!
To succeed long term in business you must have a WHY, a purpose that is bigger than just wanting to earn a living or because you do not like working for a boss. You need to be doing something you are passionate about. Otherwise the tough times will overwhelm and you will be among the 70-75% of businesses that close their doors within 5 years.
3. Have you heard the story of the two workers on a huge Cathedral back in the 17th Century? One was complaining about the heavy stones and the cold in winter and the heat in summer. The other had a totally different attitude. When asked what he was doing, he said, “I’m building one of the great Cathedrals of Europe which will last for hundreds of years. The difference was he had a clear sense of mission
Small Business Essential No. 3: Know WHAT you really do – your MISSION.
It makes a huge difference when you can frame your daily tasks under an overall sense of purpose where you know you are making a difference in the lives of others.
4. So many business owners have never worked out who is their ideal client. They often say. “Anyone with money to buy.” Truth is, not everyone is going to buy from you. The more work you do on understanding the kind of person who is a perfect fit for your product or service, the more likely you are to connect with them and serve more of them.
Small Business Essential No. 4: Know WHO you do it for?
Then you can create compelling marketing plans.
5. It is critical that you understand the business model you need to deliver your product or services to the market. Your business model determines your strategy. If you want to create business that you can sell one day, you need to build one that does not rely on you. If you are building a practice that depends on you that is an entirely different entity requiring a different approach.
Small Business Essential No. 5: Know HOW you deliver your product/services – i.e. your business model.
Do you know what type of business you are building?
These are the first 5 of 10 Small Business Essentials. If all 5 are not strong in your business you will struggle to grow consistently. How do you score?
Check out this 90 second video to understand more how you can grow your business in 2018. Applications close February 28. Click here to find out more about the Group Mentoring Program.