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Patience is vital when trying to achieve your business goals. So often, business owners will give up if they don't see the results they anticipated. Some trees need a little more time to grow, but their root systems are usually more robust than the fast-growing ones. Stay patient, and your goals will become a reality. Follow .
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Change like innovation is necessary for a business' growth; however, it's best suited when the change is heading toward your goals. Some businesses change and start new projects without the infrastructure to finish current projects. Thus, constantly changing directions when they aren't getting the results they had anticipated. It's better to spend your time completing one road toward your goal instead of ten half-finished. Be patient and finish your projects. Follow .
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What do you think about when it comes to determining the value of something and your business? There are two fundamental things we consider: Risk and Return On Investment (ROI) potential. When determining risk, we use risk analysis assessments by listing all potential risks involved then determining the probability or likelihood of failure and the severity of impact it would have. Then we evaluate if there are any measures we could institute to lower the risk even further. Finally, if it falls within our risk tolerance, we move to the ROI potential. Find a risk table online and give it a try. Potential ROI is pretty simple in concept but is often unconsciously ignored or only considered in monetary situations. Investments can be your time and the time of your team. Try not to forget that one. First, you should determine the initial value (including time spent), then subtract it from the potential final value (equals net return). Then divide this new number (net return) by the investment cost, and, finally, multiply it by 100. Voila, potential ROI. For us, both Risk and Return On Investment (ROI) potential go hand in hand when considering the value of something. Follow .
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Thinking different is a crucial element for innovation and standing out in a marketplace. Some people may not see your vision as clear as you, but if you stand your ground, create a clear vision, plan it, get passionate and determined, the people who couldn't see your vision will see it very clearly now. Look at innovators like Henry Ford, Nikola Tesla, Walt Disney, Oprah Winfrey, Steve Jobs, and Elon Musk. What do they have in common? All innovators who thought differently. Follow .
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Thoughts? Follow .
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Excuses in your business can be debilitating to growth. One common excuse from business owners is that they don't need Standard Operating Procedures (SOPs). Here are some reasons debunking that common misconception: "My business is doing just fine without SOPs." - Fine is ok for now, but how do you think "fine" will do when growing and fulfilling an influx of customer needs? SOPs provide a guide to standardize operational requirements to your team so that they can meet and exceed your customers' expectations if appropriately designed. Further, SOPs can have your team members working in symmetry. Like a finely tuned machine, all the pieces working in unison to the same common goal. DM us if you are looking for help. Follow .
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Being a good leader can get you by, but being a great leader will get you through anything. A great leader shows their team that they can mentor and coach them and not dictate. Unfortunately, a lot of older leadership styles include fear and shame-based approaches. This does not work in the long run. Instead, let your team know that you are there for them, nurture their learning styles, and give motivation when required. Great leaders are constantly aware of changing atmospheres and when adjustments are required—making accurate decisions quickly and knowing how to motivate their team to accommodate those changes. Respect goes both ways. A great leader knows that respect is critical and shows this through trust. A trusted team will flourish. Don't micromanage their abilities and allow them to take risks and learn from mistakes. Compassion and empathy seem to be absent through many leadership styles and overlooked as not having boundaries or being a pushover. But they can develop a deep and meaningful relationship, if done correctly, that will make your team perform like no other. Lastly, great leaders are masters at communication. There are six communication styles that a great leader will use, depending on the situation, that allow them to clearly and effectively communicate through listening, advising, directing, motivating, coaching, and teaching. Follow .
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Have you ever heard "opportunities are all around you" but don't believe it because opportunities seem to slip by you? Well, it's true, opportunities are everywhere, but you have to be able to see them. And this is a skill I know you can acquire. Firstly, the contacts you make are like an investment into future opportunities. You may not be able to see them right away, but I can tell you first hand over the last 15 years, 95% of the contracts I have had are due to my network. So treat your network with attention, interest, compassion, empathy and genuinely keep in regular contact. You won't regret it. Secondly, you have to be looking for them. Have you ever heard the expression, "you wouldn't see an opportunity if it hit you in the face"? That's where it comes from. You have to have a trained eye to see an opportunity. Thirdly, Analyze the risk. Some opportunities may be risk-heavy. You wouldn't want to put your business in a position where it was left vulnerable. If the risk is low, then go to the last one. Quickly. Lastly, Don't waste time. Procrastinating is the enemy of securing a deal. Situations may change, or someone else might grab the opportunity. So move swiftly to lock it down. Follow .
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Confidence is critical when communicating with your team members and customers. Unfortunately, some business owners confuse this and are cocky. But you don't do that. You know that body language is critical for appearing confident. Some ways to appear confident are making eye contact, standing tall, speaking clearly and slowly, and listening and accepting feedback. Follow .
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Never give up! Follow
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Do you ever stop to smell the roses? When running a business, it can be so easy to fall into the "busy" trap. One after another, the tasks get piled up, get distributed, more pile on, and get trapped in this endless cycle of busyness business mentality without appreciating all the completed hard work. So now and then, take a break, ensure to pat yourself on the back, enjoy everything you've done, and worry a little less about what's left to do. Follow .
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Who loves Disney? Follow .
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As a business owner, you don't have to be big to create a significant impact. For example, cultivating a solid team and treating them well will impact those team members, including their family and loved ones. In addition, community involvement, Philanthropy, Environmental, and emphasizing customer experience can create lasting impacts on the success of your business. Follow .
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Haha, I love this one. Do you agree? Yes or No? Follow .
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Profitability is a significant factor in determining a business's success. However, it isn't the only thing. Growth is equally essential. During the initial stages of your business, emphasis should be on increasing profits. But when that moolah starts rolling in, you better plan to reinvest it back into your company, or it will fall faster than it grew. Profitability and growth go hand-in-hand to achieve success. Know your bottom line of profitability. Set goals and have a reinvestment strategy. Some reinvestments could look like building your infrastructure, including adopting Standard Operating Procedures (SOPs). SOPs make your business structured and standardize how it operates, thus making it more efficient. It's also critical when training your newly acquired team members because you'll be wanting to reinvest in them too. Follow .
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Your business reputation is your customers' perception of it. Their perception comes from direct experience and what they've heard about it (true or not). Crucial components contributing to your business' reputation are the know, like, trust factor and customer experience. Give your customers a better understanding of who you authentically are and create genuine opportunities to get to know them. Let them gauge their feelings about your business rather than forcing it on them. Once they know, like, and trust you with a great experience, the rest will take care of itself. Follow .
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Often new business owners get lost in the myth of being an overnight success. They expend so much energy unconsciously trying to be somebody they're not and end up burning out and disappointed. Then the cycle continues or they quit. They accept who they are and are happy about it, make short and long-term goals, plan, execute, accept failures, adapt, continue and gain momentum. After that determining model, they will end up just like you, "an overnight success." or as we like to call it, "a leader who is determined and took exactly as long as it was supposed to be the definition of their success." Follow .
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Thoughts? Follow .
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Authenticity is the best way to ensure your customers see who you are and that you care about them. If your customers don't trust you, they will not buy from you. Unfortunately, today's consumers are skeptical and stubbornly so. A 2018 Edelam Trust Barometer survey suggests an erosion of public trust where less than half (48%) of respondents say they trust businesses. Make sure you are putting in the effort for your customers to trust you and don't fall into a statistic. Your business and customers will thank you for that. Follow .
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Being authentic is the best way to show your team members and customers how they can trust you. Be yourself! Follow .
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We all create our futures, but the choices we make determine the direction we go. Follow .
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Limiting beliefs are the quickest way to get you nowhere, except stuck. You and your business don't want to get stuck, as so many others do. You and your business are different, you can see when something is holding you back. The determination to identify and move through limiting beliefs will be well rewarded. Follow .
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