Small business owners and entrepreneurs often miss the signs that their business gives them on what is working and what is not working. Every business fundamentally is the same—it requires strong systems and tools in place to be able to deliver exceptional service and products as well as, support the staff and internal aspects of the company. It all starts with the direction the company is moving and then how well the actions support that vision.
I have worked with hundreds of businesses and see the same mistakes over and over. Here is one of the most common: As a business owner you have a few options in regards to your end game: Sell the business, leave the business to a partner or family member or close the business (you can also go public but that is rare.) So the simple question to ask yourself is, which of those three options are you working towards?
You may say, “I’m not really thinking about that,” or “that is far away,” or even, “I’m just trying to make it right now.” All of those are very typically responses. So why ask that question at all? The reason is very simple—your business will end in one of those three places whether you plan for them or not.
Just like every other aspect of your business, you need a plan (hopefully you have them!) This is no different. In fact, it makes all of the other pieces take shape. Depending on which option you are working towards that will shape the systems, the training, the growth, and the overall strategy of your business.
Take action today—write down what your hope for your business is in regards to your end game. List out the pieces that are building towards that end and then the systems and tools you need to get there. Then take action!
What do you need to do to get those systems in place and start to build the business with a direction in mind?
• Do you need to let go of responsibilities?
• Do you need to train employees better?
• Do you need to work with a coach to hold you accountable and help make changes on how you think and see your business?
The problem is most owners will say yes but … they have a million and one reasons why they have to wait to take action. Don’t fall into that trap, start taking action today. Fifteen minutes a day consistently will add up and 60 days later your business will thank you!
Previously published on LinkedIn
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