Breakthrough Strategies For Small Business
Breakthrough Strategies For Small Business.
Are you a small business owner? How many hats do you wear? You know it is a lot. And with all of those hats come many different responsibilities. So many in fact that we are forced to prioritize what gets accomplished. The question is, what is being neglected when you are done prioritizing and what is the cost to you in terms of money, time, or emotions? So, Mr. or Mrs. Small Business Owner, first, let's take a closer look at the many responsibilities that you have. Then we will take a look at how to manage them all.
First is your Chief Implementer hat. When you wear this hat you supply your product, deliver your service, and take care of customers. That's what you got into business for. It's your passion and what you are good at. So it's most likely that you spend most of your time wearing this hat.
Next is your CEO hat. A business owner needs to make strategic and tactical decisions. What's the direction that the company is headed in? This is where the 30,000 foot view stuff gets addressed. What are your 3 and 5 year goals? What needs to happen this year? How will you accomplish those things? How do they get tracked and measured? As CEO and Captain of your ship, you have the responsibility of making sure that you have a destination and are on the right course to reach it.
Also, you have your VP of sales and marketing hat. Who will you target, how will you target them, and what will you say or do when you have a prospect are all critical issues to a business owner. Without effective marketing to reach your target audience, there are no sales conversations. We know what happens if that is the case. Without an effective sales process, there are no customers. This is equally as bad.
Developing ourselves and our potential is necessary to grow as a person and thus grow the business. Your time of course is limited. When you spend time developing the skills and knowledge that falls under one of these "hats", which one is it usually? Probably what falls under your chief implementer hat, right? Because that's where your interest lies and your reason for being in business. Due to this, it becomes your path of least resistance. It's easier and more pleasurable to work on things we are good at and passionate about.
So here is the million dollar question (or more): What is it costing you by not developing those other two "hats"? I'm not just talking about dollars and cents cost. How about the cost of time and energy (if you are going in the wrong direction), and emotions (frustration if your business is not where you want it to be). Are there other costs too? Only you can answer that.
"So what do I do"? You ask. Here are some steps you can take to address developing your CEO and VP of sales and marketing hats.
1) Revisit your company's vision statement. Rewrite it or if you don't have one, write one.
2) Set goals in the following 4 areas: management, customer, growth, profit
3) Read books or research online, or talk to people who can help you strengthen areas you identify need work
3.5) Remember that you can make radical changes. You make them a little at a time. Just start by identifying where you want to go.
Feel free to contact me for resources to help. I would be happy to share them with you.
Breakthrough Strategies For Small Business - To learn more about this author, visit Howard Litwak's Website.
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