As a business owner, think about how you spent the last few weeks or months in your business. What did you work on? If you’re like most business owners, you spent your time answering phone calls, answering emails, making your product, dealing with customer emergencies that no one else seemed to be able to handle, and other things “in” the business. However, the most profitable, successful, and fastest growing businesses are run by owners who spend little – if any – time working on the day-to-day issues in their business.
Instead, successful business owners spend their time working “on” their business by launching new products & services to meet their customer’s needs, developing their own leadership skills as well as their team’s, creating strategic partnerships, and uncovering and filling profit leaks. In short, they’re working strategically on their business and treat the business as a product itself.
Why are so many businesses dependent on the owner for the day-to-day activity that takes place? Simple… the business owner hasn’t made the effort to create an organization that can run without their involvement.
Working on your strategic business issues never feels urgent.
I’m reminded of a business owner who I met with recently to discuss some pressing personnel issues, employee wage theft, lack of new business leads, and no profits after several years in business. Instead of developing a plan to tackle her strategic issues, her position was to “wait until things settle down” and visit them after the holidays. She went through a long list of things that were on her “to-do” list. But in the end, none of these will solve her most pressing issues.
As the owner of several businesses, I can tell you that things never “settle down.” There are always things to work on – the question is are you really working on the right things? For many business owners, waiting for things to quiet down tomorrow is a recipe for disaster. That magic tomorrow never comes and six months from now you’re still facing the same issues in your business.
For most businesses, a new fiscal year begins January 1, 2018. Ask yourself right now…
- Is our 2018 strategic plan completed and shared with all levels of my organization?
- Is our revenue & cost forecast in place?
- Do I have a written plan to increase my profits 50 – 70% next year (at a minimum)?
- Are all my key measures & metrics defined so that I can monitor the health of my new initiatives?
- Do I have a plan in place to acquire the necessary staffing and training to accomplish my business goals?
- Does everyone know what their 2018 goals are and how they’ll be measured?
If you answered “no” to any of these, what’s keeping you from getting these strategic initiatives done (or worse yet… getting them started)?
Don’t wait until things “settle down” or for tomorrow to come. Before you know it, tomorrow turns into March or April and you’ll lose several months of opportunity to make real changes in your business.
As the business owner, you have the choice every day of what to work on. Spend your time working on the strategic issues and things that matter most to growing your business.
Don’t wait… take action today!
If you’re stuck trying to figure out what matters most, or what strategic initiatives to focus on, contact us via email for our free business growth assessment tool. The assessment takes 20 – 30 minutes to complete with your key leaders. We’ll be glad to review it with you and show you how business coaching can make a real difference in your business.
Email us at firstname.lastname@example.org
Or call us at 863-604-4403
Wishing you success in business.