Your business should be systems-dependent not owner-dependent! Too many business owners are prisoners to their business. The key to freedom and consistent performance is systems.
Start by having your employees document everything they do. If necessary, have someone from the outside observe what you do and write it down for you. But get it out of your head and on paper, and do it with enough detail that someone new coming in can easily identify and perform the tasks.
What one task did you do today that you could train someone else to do? How would handing that task off impact your business? If you document your systems well you can learn to trust your people and your systems. You can let go and enjoy life more!
My vision for my clients is that they will be able to sit back with joy and watch their business work. My definition of a success business is "an enterprise that is increasingly profitable, that consistently delivers on its promise (perfectly, everytime), and runs without you the owner." Take action now to systematize your business. A Growth Coach can help you achieve your goals!
Monday, November 29, 2010
Monday, November 22, 2010
Commitment!!
Men and women of character say what they mean and do what they say. They make bold promises and keep them. Their lives are characterized by commitment!
The average person today doesn’t care much about keeping commitments if their commitments are not convenient. The value of his/her word has become so cheap that they break it almost every day. Average salespeople promise things they can’t deliver just to make a sale; average parents promise their children that they’ll tuck them in or take them to the park, yet feel no remorse when they fail to follow through. When average people are late for an appointment, they don’t consider their tardiness to be a broken commitment. I could go on.
Commitment is the basis for trust, which is the foundation of all relationships. Therefore, breaking it equates to destroying trust. People want to do business with others whom they know, like, and trust. So when a person doesn’t keep his promise, others don’t want to do business with him, much less engage in personal relationships with him.
I encourage my clients to make strong and clear promises to their customers. But we must stand behind our word, even in the small things. Commitment is doing what we say we’re going to do. Great businesses are built by people who make and fulfill great commitments.
The average person today doesn’t care much about keeping commitments if their commitments are not convenient. The value of his/her word has become so cheap that they break it almost every day. Average salespeople promise things they can’t deliver just to make a sale; average parents promise their children that they’ll tuck them in or take them to the park, yet feel no remorse when they fail to follow through. When average people are late for an appointment, they don’t consider their tardiness to be a broken commitment. I could go on.
Commitment is the basis for trust, which is the foundation of all relationships. Therefore, breaking it equates to destroying trust. People want to do business with others whom they know, like, and trust. So when a person doesn’t keep his promise, others don’t want to do business with him, much less engage in personal relationships with him.
I encourage my clients to make strong and clear promises to their customers. But we must stand behind our word, even in the small things. Commitment is doing what we say we’re going to do. Great businesses are built by people who make and fulfill great commitments.
Wednesday, November 17, 2010
2 Fundamentals-Mindset and Behaviors
The marketplace today is vastly different than it was two years ago. In fact, it's different than it was just eight months ago. Some businesses are struggling while others are thriving - what makes the difference?
For most business owners and sales professionals it boils down to 2 things: Mindset and Behaviors!
When a shift occurs in the marketplace, confusion follows. Consumers are confused, investors are confused, and businesses are confused. This confusion leads to fear. The most important thing for entrepreneurs and leaders at this time is to focus on the fundamentals.
The first fundamental is mindset. Know that there is still business to be had! Know that there are new opportunities available now that were not available in the recent past. Know that growth comes from clarity, focus, and strategic action.
In what ways do you need to elevate your mindset? What kind of beliefs will lead you to success? What limiting beliefs are holding you back?
The Law of Belief says, “Whatever you believe, with conviction, becomes your reality.” Look at your situation. What does that say about your beliefs? The most powerful, but often most unconscious contributor to our success or failure is our mindset. Henry Ford summed it up well when he said “If you think you can do a thing or think you can’t do a thing, you’re right.”
Along with Belief is the Law of Concentration, which says, “Whatever you dwell upon, grows and expands in your life.” During uncertain economic times our mindset and beliefs will be the deal-breaker! Get rid of “head trash” and make sure your mind is set for success.
The second fundamental is behavior or habits. Brian Tracy said it well stating, “Successful people simply practice successful habits.” It really is that simple! Identify the behaviors that produce success, and practice them consistently. They will become successful habits.
While this is simple, it is not easy. We are often creatures of “unsuccessful” habits, and we typically avoid facing reality. In addition, in a shifting marketplace we discover that what worked yesterday often doesn’t work today. We must be ruthlessly honest with ourselves. We must identify those fundamental successful behaviors, and practice them relentlessly.
As we see shifts happening, go back to the fundamentals of mindset and behaviors. Consider hiring a business coach to help you gain clarity and focus. The right coach can help you turn a dismal trend into growth and success.
Let me know what you think. What has been your experience with annual business planning? Positive or negative? What have been the benefits? What has held you back? Let me know.
For most business owners and sales professionals it boils down to 2 things: Mindset and Behaviors!
When a shift occurs in the marketplace, confusion follows. Consumers are confused, investors are confused, and businesses are confused. This confusion leads to fear. The most important thing for entrepreneurs and leaders at this time is to focus on the fundamentals.
The first fundamental is mindset. Know that there is still business to be had! Know that there are new opportunities available now that were not available in the recent past. Know that growth comes from clarity, focus, and strategic action.
In what ways do you need to elevate your mindset? What kind of beliefs will lead you to success? What limiting beliefs are holding you back?
The Law of Belief says, “Whatever you believe, with conviction, becomes your reality.” Look at your situation. What does that say about your beliefs? The most powerful, but often most unconscious contributor to our success or failure is our mindset. Henry Ford summed it up well when he said “If you think you can do a thing or think you can’t do a thing, you’re right.”
Along with Belief is the Law of Concentration, which says, “Whatever you dwell upon, grows and expands in your life.” During uncertain economic times our mindset and beliefs will be the deal-breaker! Get rid of “head trash” and make sure your mind is set for success.
The second fundamental is behavior or habits. Brian Tracy said it well stating, “Successful people simply practice successful habits.” It really is that simple! Identify the behaviors that produce success, and practice them consistently. They will become successful habits.
While this is simple, it is not easy. We are often creatures of “unsuccessful” habits, and we typically avoid facing reality. In addition, in a shifting marketplace we discover that what worked yesterday often doesn’t work today. We must be ruthlessly honest with ourselves. We must identify those fundamental successful behaviors, and practice them relentlessly.
As we see shifts happening, go back to the fundamentals of mindset and behaviors. Consider hiring a business coach to help you gain clarity and focus. The right coach can help you turn a dismal trend into growth and success.
Let me know what you think. What has been your experience with annual business planning? Positive or negative? What have been the benefits? What has held you back? Let me know.
Monday, November 8, 2010
Planning for 2011
Almost every business owner I talk to will affirm the value and importance of an annual business plan. However, few really take the time to create one! Why do so many give lip service to planning but so few actually do it?
The primary reason is we lack the mindset of a Strategic Business Owner! We think more like an employee than an entrepreneur! As a result, working “in” the business makes more sense to us than working “on” the business.
Why spend 4-6 hours creating an annual business plan when we can be marketing, calling on customers, or doing the technical work of fulfillment? To move your business forward you MUST elevate your mindset! You must learn to think more like a CEO or you will never start behaving like a leader!
Another reason most business owners do not plan is they do not have a simple system to follow for creating an annual business plan! Some had to create a “Start Up” business plan and found it to be so difficult and time consuming that the thought of having to go through that pain again is totally de-motivating. Plus, many did not even look at it once they received their funding and got their business running.
Here’s a simple outline for an annual plan to grow your business: Start your plan NOW!!
1. First, review your mission, values, and vision. This is what I call the “High Level Component” in your plan. These do not change dramatically from year to year but they need to be reviewed, evaluated, and updated annually. Find a quiet place where you will not be interrupted and take no more than an hour for this activity.
2. Next, create a budget for the year. I call this the “Financial Component.” This may be difficult if you do not practice annual budget planning. You may want to enlist the help of your CPA or your business coach. Once you set your budget, enter it into your bookkeeping software (Quick Books does this very nicely.) By doing this you can look at your P/L Statement every week or every month and know exactly where you are in comparison to your budget & projections. Most small businesses can do this in a couple of hours.
3. Finally, create goals around your 7 key business processes. I call this the “Organizational Component.” These 7 key functions are leadership, management, marketing, sales, operations/fulfillment, customer service, and administration/back office. Most small businesses can do this in a couple of hours.
These are the 3 critical components of an annual business plan. I thoroughly enjoy helping business owners put together their plan. I love the focus it gives them and the sense of accomplishment they feel, knowing that they are on top of their game, truly tracking the performance of their company.
With this intentionality and planning they are typically able to improve and grow their business year to year. If you need help, please call (215-436-9443) or email me (S.Toeller@TheGrowthCoach.Com)!
The primary reason is we lack the mindset of a Strategic Business Owner! We think more like an employee than an entrepreneur! As a result, working “in” the business makes more sense to us than working “on” the business.
Why spend 4-6 hours creating an annual business plan when we can be marketing, calling on customers, or doing the technical work of fulfillment? To move your business forward you MUST elevate your mindset! You must learn to think more like a CEO or you will never start behaving like a leader!
Another reason most business owners do not plan is they do not have a simple system to follow for creating an annual business plan! Some had to create a “Start Up” business plan and found it to be so difficult and time consuming that the thought of having to go through that pain again is totally de-motivating. Plus, many did not even look at it once they received their funding and got their business running.
Here’s a simple outline for an annual plan to grow your business: Start your plan NOW!!
1. First, review your mission, values, and vision. This is what I call the “High Level Component” in your plan. These do not change dramatically from year to year but they need to be reviewed, evaluated, and updated annually. Find a quiet place where you will not be interrupted and take no more than an hour for this activity.
2. Next, create a budget for the year. I call this the “Financial Component.” This may be difficult if you do not practice annual budget planning. You may want to enlist the help of your CPA or your business coach. Once you set your budget, enter it into your bookkeeping software (Quick Books does this very nicely.) By doing this you can look at your P/L Statement every week or every month and know exactly where you are in comparison to your budget & projections. Most small businesses can do this in a couple of hours.
3. Finally, create goals around your 7 key business processes. I call this the “Organizational Component.” These 7 key functions are leadership, management, marketing, sales, operations/fulfillment, customer service, and administration/back office. Most small businesses can do this in a couple of hours.
These are the 3 critical components of an annual business plan. I thoroughly enjoy helping business owners put together their plan. I love the focus it gives them and the sense of accomplishment they feel, knowing that they are on top of their game, truly tracking the performance of their company.
With this intentionality and planning they are typically able to improve and grow their business year to year. If you need help, please call (215-436-9443) or email me (S.Toeller@TheGrowthCoach.Com)!
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