I have posted about the top 3 things that make businesses fail. Now I want to talk about the primary wake a business succeed: Time! I know that sounds a bit crazy. But in the end, companies that use Time well are those that make great businesses. Let us look at our 3 negative factors.
Capital is required to perform functions efficiently. Underfunded Companies bottleneck themselves. I was talking to a prospect the other day about challenges with his Marketing. He expressed a Time Crunch to get the work done. We talked about a part-time position that he could use a College Intern to do. He had considered other options but they were all "too expensive". Not Marketing efficiently is "too expensive".
Sales and Marketing are all about bringing good prospects to your business and converting them into Clients. I had a client that was searching far and wide for customers but had a place of business right next to 250 ideal prospects. I got her to understand that she should focus her marketing on that 250 before she expanded out to other audiences. This helped make her business grow and thrive quickly.
People and Organization are all about scaling effectively. I have a client who was always looking for entry-level employees. I showed him a way of hiring higher end employees to manage sub-contractors. This allowed him to expand his business by 3x in profit over 2 years. Having the right people and having them do the right jobs is the way to build a path forward.
If you want a positive initiative, then build a living business plan (not just one that sits in a drawer). You can write measurable objectives and hold yourself accountable for meeting them. You can see where you are off-track and correct your course to hit your goal. It is the right thing to do and will help you spend your time on the right things.
Have a great day!
Focal Point Business Coaching
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