Tools For Business Growth
When you opened your business you dreamed of its future and had some ideas of where youâ€™d like to see it in a year, five years, even a decade from that day. Itâ€™s only natural as no one dreams of being mediocre. Year after year you look back and hopefully youâ€™re satisfied with where youâ€™ve been, where youâ€™re at, and optimistic about the future of your business.
Weâ€™re half way through the year and itâ€™s time to set goals. Itâ€™s time to make an impact far greater than your company has made yet in its market. Goal setting is extremely important because it keeps you in check with your standards and each time you reach these bench marks that are set, youâ€™ll see that youâ€™re making progress and your business is headed in the right direction!
Here are some ways toÂ have a great finish to the rest of this year:
Being organized is being in control. Organization is important for business operations, in fact itâ€™s essential to running a successful one. Certain people have an innate ability to think and act in an organized fashion, others always find themselves rushing to that next appointment or meeting, using contracts and invoices as coffee coasters on a cluttered desk or wasting valuable time shuffling through shoe boxes of old paperwork looking for that particular file on a daily basis.
Spend an afternoon organizing your business, and not just your filing cabinet and desktop icons, but your time, scheduling procedures and especially your budget, the vital heartbeat of the business. Take an inventory of your supplies and stock. You need to have a good idea of what you have and what you may need for the season ahead. Set up a game plan to better manage your time more effectively. This will enable to you to meet deadlines and not feel so hurried and rushed throughout your day. Organized scheduling will also enable you to allocate time to prepare for important day to day activities, and to maximize your potential, allowing for better results.
There is a vision for your company, it was established when you took that first step forward. If you donâ€™t have a mission statement, now is a good time to create one. You have to know what youâ€™re going for, and what youâ€™re hoping to achieve. This canâ€™t be entirely interpreted in one simple sentence, but itâ€™s a solid outline for the visionary goals that are essential for long-term growth.
â– Long-Term Goals â€“ These should have a timeline of about three to five years and should articulate your mission statement. The overall picture is painted by the long-term goals including company growth and expansion, future profits, philanthropy and reputation. This is where you see your company in its future. Year to year you should see your company inching closer and closer to this big idea. This is why you started your company, this is what itâ€™s all about.
â– Short-Term Goals â€“ Once you have taken the time to plot the long-term goals for your business, itâ€™s time to start figuring out exactly how youâ€™re going to get there. Short-term goals are different because theyâ€™re not as abstract as the long-term ideas for the future. They are specific and more precise, they are detailed in terms of numbers and figures. This is where you can start setting projections for the new year in terms of numbers and percentages. This is when you can say â€œI will have the ability to hire three new full-time employees this year.â€� Set deadlines for your short-terms goals, whether month to month or quarterly. You must be able to look over these goals and say â€œIf I want to increase sales in this year by 25 percent, how many new orders or customers do I have to secure in order to achieve this mark?â€� If youâ€™re setting a goal to have 50 testimonials next year, break it down to size and aim for at least five testimonials a month and you will shatter your goal!
Write these goals down and keep them in a place where youâ€™ll constantly see them and be reminded. Be realistic with your expectations and establish milestones to track your success. Ask yourself â€œwhere do I want my business to be in one year?â€� Continue to focus on them throughout the entire year, this will perpetually revive your ambition and excitement to follow through and achieve every goal you have set.
Make sure that you have the tools necessary to maximize your potential and to actually achieve the goals that you have set. This relates to everything from marketing your business to acquiring the working capital to actually make it work. In order to make money, you have to have money!
â– Marketing â€“ Make sure your business is taking advantage of its marketing potential covering promotions, sales, advertising, lead-flow and public relations. Keep up with our published blogs and speak with our marketing team, youâ€™ll find a cost effective way of getting your product or service introduced to a variety of potential customers.
â– Working Capital â€“ Itâ€™s the lifeblood of any business. As said before, in order to make money, you have to have it, and know how to put it to work for your business. Running your business paycheck to paycheck is not feasible. Whether youâ€™ve been turned down by the bank, your credit is shot or youâ€™ve only been in business a short amount of time, we have the ability to infuse cash into your business. So based on the specific needs of your business, youâ€™ll have options within a few hours. Use this money to capitalize on and to achieve the goals you have set and maximize your return on investment.
Success for your business is up to you and your leadership. Your ability to prepare a detailed plan to execute on all of thisÂ can really make a difference in how your business performs going forward. Taking a consultative approach to growth by contacting us at Statzer Consulting can be a game changer. If you match your inspiration and follow this guide with a solid strategy, next year will be best year your business has ever seen!