"Most businesses will FAIL within the first two years." Entrepreneur Magazine
Your idea seemed great, everyone you talked with seemed to love your idea. Your family and friends assured you that you were the next great thing, that Oprah would be calling soon...
Well just a few years later, your garage is filled with product, your dreams shattered and your will to continue gone. What happened? What went wrong? It's a story I hear all to often as a business trainer, when many of my clients contact me, they are on "business life support." For many small business owners, they are missing what I call the intangibles of business success. The stuff you don't learn in "B-School," the type of education you only get from being in the trenches or working with someone that has done what you are trying to do.
This past weekend I spoke to a group of business owners about what I call the "C.O.D.E of Business Success." I wanted to share a small recap of what I taught them, hopefully it will assist you in being successful. The "C.O.D.E" is four simple habits you MUST develop as a business owner if you want to succeed. So here they go.
Here is where the battle is going to be won or lost. Your ability to be consistent in the small things that drive your business. Creating business awareness (marketing), following up with leads, constant learning and seeking help are just a few things you have to be consistent in doing, daily, weekly and monthly. We all start off knowing these are essentials to our business, but some how we lose sight and stop doing them on a consistent basis. Being consistent in your service, not changing every week, giving people the opportunity to associate you with your service or product aides your business success. Everyone knows McDonalds serves the Big Mac, Burger King serves the Whooper and Dr. Will serves Leadership Development. What are you known for?
Say this out loud "Order Makes Everything Easier." You can't out grow your level of organization. Many fail because they are not organized, they have no systems in place to help them manage the day to day operations of a business. Every thing is a TASK and seems overwhelming because they are not organized. We have a small team that does BIG things at my company because we have systems in place that do the work for us. You should test your systems often. Go through your sells process, see what experience your customer is having. Have someone secret call your office to see how your team handles problems and provides service. Because I do this, I was able to identify some failures in our service process. One of our links was broken and was sending our partners to the wrong purchase page. If I never tested the process, we may never have found that a problem exist.
You must develop the ability to make decisions quickly and efficiently. This only happens by making decisions, some will be great, some will be awful, but you will learn from the process. When I was in the Army I learned as a leader to make split decision choices, in some cases life and death choices. Too many times a business will fail because the leader couldn't make decisions fast enough. When I worked for a big retailer I learned how they made decisions. They let the results determine their decisions, they weren't driven by emotions. If something wasn't selling they would change where it was displayed, maybe they would lower the price, or sometimes just remove the product all together. No matter what, they made a decision.
What ACTION are you taking every day to make you a better business leader and make your business better. Waiting for that big break or big deal will kill your business. You have to go out and create opportunities for your business. I know they say "Let your work speak for itself," well that is the fastest way to go out of business. You have to find creative ways to tell people about your business everyday. I call it "RTM" which stands for "Really Think Marketing." Have a list of actionable things you will do each day to drive your business forward. A key call, sending out a correspondence to a potential client or reviewing your systems.
Avoid the trap of becoming too busy to DO the essentials things that drive your business forward. Check for results often. The TRUTH is in the numbers or results. Don't fight the numbers, identify the problem, fix it, improve it or get rid of it.
If you want to succeed in business, implement the C.O.D.E. into your daily, weekly and monthly processes.
Well I hope this helps you succeed in growing your business!!!
Wishing You Nothing But A Genius Life,
About Dr. Will
Hi, I'm author of the critically acclaimed book,
Genius Potential: Learn to Identify, Develop and Release
Yours! I am the CEO of Will Moreland International, LLC a think
tank that is dedicated to developing world class leaders in
life and business. I also speak on leadership, personal development
and organizational excellence. To learn more about me >>>
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Dr. Will is an author, speaker and leadership consultant....