Independent business is the backbone of the modern economy. More and more people are starting and building entrepreneurial ventures as their road to success. Along the way, every entrepreneur should stop and take stock of where the business is located in the success cycle. Let's take a few moments to look at your dreams in action.
Every small business began with a dream, a business plan of varying degrees of complexity, and a lot of hard work. Customers and clients were sought and found, and the business developed some cash flow. Many entrepreneurs have already moved well beyond that stage of business development, but old habits die hard. Not every business person has moved mentally beyond the startup phase. Some business owners are still working in the business and not on the business. It's time to build your company to the next level.
The first step would be to examine your current financial status, and determine your business profitability and cash flow. If the business revenue and profits are growing, it's a sign that the organization is moving in the right direction financially, but may need to address issues of growth and staffing in the near future. If the numbers are stagnant, or even moving into the dreaded negative territory, it's time to make some serious adjustments to the overall marketing plan and develop some new revenue sources.
Once the preliminary financial statements are considered and digested, it's time to make some changes in how you operate your business. For one thing, you must consider the value of your time and the tasks you perform on a daily basis. After all, we are getting you to work on growing your business, rather than spending your time and energy working within the daily routine. For many entrepreneurs, this step is the most difficult one they will ever take on the road to success. Letting go of the daily operations, and concentrating on marketing, strategic planning, and growing the business is a giant leap. It's time to take that jump to the next level.
When you arrive at your desk in the morning, set aside an hour each day to develop and execute a plan toward business growth. During that hour, don't answer the phone, email, or allow any other distraction. This is the power planning and growth hour. Treat it as the golden time for your company. Every day, make at least one positive step toward achieving that goal. Over time, these results will build into a driving force that will be unstoppable as your business grows and expands.
As each step is reached, you will notice a powerful leap in your business revenue. After all, you will have developed action plans and executed them resulting in a number of powerful successes. While there will be some failures and mistakes along the way, each of these events is part of the learning process and will contribute to the bottom line over time. Mistakes are gifts to be treated well. They offer lessons and stimualte new ideas and solutions for further business growth. Mistakes and problems are not disasters. They are guideposts on the road to further achievements.
Over time, you will notice that you are devoting more and more time to management, planning, and creative idea development. Less time will be spent on the daily routine of the business. Having delegated that responsibility to your staff, you are offering them the opportunity to grown and add value to the company as well. People will rise to the occasion if you give them the chance. Let them have their wings and let them fly. Put your trust in your employees. They won't let you down. You already know that mistakes can lead to success, so you no longer fear failure. You have begun the journey to constant growth and success.
Set aside that golden hour today, and build your business to the next level. Your success, and that of your staff and everyone connected to your business, depends upon it.
Work on your business, and not in it.
