Small Business Essentials in Tough Times
by David Staughton CSP CCEO, Keynote Speaker on Business Growth in Tough Times and Expert on Small Business
- Would you like to grow your sales & profits?
- Need some new ideas to improve your Results?
- Want to know the Secrets to Business Success?
Most Business Owners want a successful business.
But the path to success has many obstacles – in fact 8 out of 10 businesses will ultimately FAIL.
If you want your business to survive then follow these 10 essentials for business success!
1. Just have ONE CAPTAIN
Decide who’s really ultimately in charge because “shared responsibility is no responsibility”.
Business relies on strong, decisive leadership.
Work out who is responsible for what. (Decide the Roles)
2. Create and Communicate More ORGANISATIONAL CLARITY
Be really clear about the roles and responsibilities within your company and articulate your vision.
Start with an updated Org Chart, Job Descriptions, revisit your Vision, Mission and Values.
3. FOCUS on the VITAL FEW or Critical Main Things
Focus on Just ONE or TWO Challenges at a time.
It’s really important to focus on the direction of your business, with special attention given to the FINANCIAL side of the business. Make a Plan and Prioritise. Try Liveplan
4. PLAN AHEAD (Remember the 6 P’s)
Prior preparation prevents a pretty poor performance!
Any planning helps – tax plans, cashflow plans, sales plans, marketing plans, biz plans. even a TO DO LIST helps!
Get clear on the plan.
5. Develop your BUSINESS SYSTEMS & PROCESSES
‘Systemize the routine; humanize the exception’ – says FedEx founder Fred Smith.
Read this blog on Basic Business Systems & Processes
and this Blog on creating systems to help replicate and scale your business
Also Have a look at Waywedo – a systemising program
6. PRACTICE & IMPROVE
Make sure you offer cutting-edge customer service.
Aim for continuous improvement.
Survey people and ask for their ideas.
7. THINK DIFFERENT – Be Still and Silent
Spend more time THINKING about various ways to be different, innovative, creative and exclusive.
Try SSS – Some stillness, Silence and Solitude. Meditation and Mindfulness helps.
8. AVOID DELAY – Don’t Pretend
Learn to take action right now!
Implement, try and fail and try again. Just DO IT!
9. Go the EXTRA MILE – play the LONG GAME
Build great rapport and long term relationships by doing that little bit extra.
Think of the future benefits of great relationships – not short term wins.
10. CASHFLOW IS KING – Watch your cashflow and Adjust your PRICES
- “If your sales volume is going up, put UP your prices,
- If your sales volume is going down, improve your customer service and marketing effort”
If you Want to Implement these Ideas – Get yourself an Accountability Buddy or a Coach