From running your household to running your business, you are the ‘go-to’ person for any crisis that may arise. Granted, the crisis may only be in the mind of the person standing in front of you, but you still have to calm the troops, give an encouraging speech that the crusade must go on and coddle the high-maintenance yet high-paying client that seems to always be on hold. So when do you have time to grow your business?
If you feel like you’re reliving Groundhog Day and have not experienced any real results or forward progress in a while, here are a few things you can do today to get some traction and begin moving things forward again:
- Take a vacation. That may seem counterproductive, but it could be the best thing you do for yourself, your business, your marriage and your family. When your mind is fresh, you are better capable of making the decisions necessary to drive your business forward. More importantly, when your family feels taken care of, they may be much more understanding when duty calls.
- Update your Marketing Strategy. Designate a Key Employee or manager to review the most current marketing plan and request feedback within two week’s time. Give them the authority to pull together a ‘task team’ if needed and have them create a presentation for you that includes the following:
- What are other companies doing in your market to move themselves forward? (Just having someone review your competitors websites could be a good start.)
- What marketing tactics are similar businesses employing to create a buzz? Are they involved in social networking? Has anyone received an impressive direct-mail piece? Are businesses incorporating television or radio ads? Are industry leaders taking part in speaking engagements and seminars?
- Develop a Marketing Budget divided into three price-ranges: 1) No to Minimal Upfront Costs, 2) Stretching the Budget but Doable, and 3) The Sky is the Limit (make sure your team has room to dream!)
- Through their research, have them come up with at least 10 “call to action” items that could help move the business forward. Consider anything from improving internal processes and systems, to better managing vendor pricing and products for client up-sells and order add-ons. Another great motivator is employee incentive programs.Minimal expenditures for this could include such things as a paid day off for coming up with an idea that is implemented, gift cards to Starbucks for raising employee morale, a team building day that begins with a Spring Cleaning to spruce up the office including new plants / furniture / pictures if possible, then have an afternoon outing to a water park / theme park / aquarium, favorite local spot, etc. For more of an investment in your employees incentive program (which is proven to increase retention, overall productivity and loyalty), consider upgrading health and/or retirement benefits, as well as adding regular bonus schedule.
- Written Goals and Objectives. Designate time this week to think about where you want your company to take you, both financially, and within the corporate marketplace, and write those goals down. Then develop a stair-step plan that documents your 3-month, 6-month, 1-year, 3-year and 5-year plan goals that will get you there. Share this plan with your management team and incorporate their help for accountability.
Here to help you plan first, strategize often, and finish well,
The Company Coach Team
Links of Interest:
Small Business StrategiesLife Multiplier Tools
Plan First
The Company Coach Story
The Company Coach = The Collaborative Coach
No related posts.
Jim Peterson
What if there is no one to delegate to and you have to do everything by yourself? There just isn’t enough hours in the day.
The Company Coach
Jim, I like your tag line – “Reflecting the Right Image.” That is clever, also something that business owners and leaders need to do personally as well.
Without knowing your specific situation, it is very difficult to give you a blanket response – there is no one answer that solves everything.
First, there are the basics of time management. The focus needs to be with working ON the business instead of being lost IN the business. Best rule of thumb is to not allow yourself to be a hostage to urgent situations. Beginning the day with something positive that you direct and control is also very important – like reading a good leadership, spiritual, or personal development book – just a few minutes to set your mind on the right track of where you want your business to take you, instead of being controlled by the business. It’s a bad habit to begin each day by checking email, texts, Twitter or Facebook posts. You never know what you’re going to get, or how those comments are going to direct your thinking for the day.
Next are special technology solutions to improve productivity. Improving IT within business communications, operations and procedures, as well as technology related to social marketing and networking can also help.
Then there is out-sourcing. There are tasks, duties, responsibilities and everyday business processes that can be hired out like payroll, accounting, and booking appointments and filling your sales pipeline with qualified leads. There are even executive services available like HR, CFOs and CEOs. There are also plenty of skilled out-of-work people that would be willing to pick up part-time and temporary jobs.
I recently came across a great article that you might find of interest. It has a lot of great information that might help, titled “How to Fast Forward Your Goals” found in Inc. Magazine. I hope you find it helpful!
If you’re interested, we could do a complimentary phone conversation to delve into the matter further. I wish you the best!
Here to help,
GUY HATCHER