10 Strategies to Build Your Best Business
Embrace failure and learn from it. No matter what stage of the business you’re in, failing is never easy. But if you allow it, it can be motivating. The biggest challenge? Not taking it personally. As soon as you believe you’ve failed because you’re no good, you succumb to defeat. Take your lumps and move on, knowing this: everyone that got to where you want to be started at the beginning.
Surround yourself with support. Some people are fortunate enough to come fully equipped with a tribe of encouragers. Others have to network along the way. Either way, choose your group. Build your peers, mentors, community, supporters, and mix it up! Programists, dreamers, strategists, creatives; the more diverse your support, the better equipped you’ll be to deal with challenges and keep moving forward.
Prioritize time management. Organizing your time is fundamental to success in business. It’s the difference between being on the defense vs. the offense. If you are unorganized with your time, you’re putting out fires and creating systems out of immediate or overdue needs. When you take time to think through systems and plan your time accordingly, you can stay ahead of your needs and create forward thinking systems designed for growth.
Stay adaptable and open to change. Without being tossed to and fro by the waves of what everyone else is doing, keep in mind that change is inevitable and necessary for growth. Ultimately, you decide what programs, events, offers, are in line with your brand and your vision for your business. However, don’t get your business stuck in a rut by unwillingness to try something new. Taking chances can bring energy to you, your team, and your business.
Invest in personal development. Be careful. Don’t fall into the “you have to spend money to make money” trap. It’s not about spending money, it’s about investing it properly. A lot of personal development can be free. read a book, schedule a monthly meeting with a mentor, join a group of like-minded business owners who occupy the dream you’re building. when you do invest financially, make it worth it! make sure it’s something that that will drive the engine of your business; something that you couldn’t or wouldn’t do on your own or for free. Bookkeeping and consulting are perfect examples of this.
Focus on customer satisfaction. Loyal, long-term clients feel valued. It starts with listening to them and providing a service and a relationship that meets their needs and expectations. Remember the motto, ‘people over profit.’ That mindset will shift you from constantly telling your customers how awesome you are in order to generate a sale and building brand loyalty.
Know your numbers. You can’t run a business if you aren’t keeping an eye on your finances. financial literacy and data driven decision making are key to avoiding the pitfalls of emotional spending, pretending, and avoidance. Too many businesses run inefficiently and miss opportunities for growth due to unorganized and mismanaged books.
Develop a strong brand identity. Your brand is a reflection of you, and you are not like anyone else. Find your niche. Whay sets you apart from others? Build that one-of-a-kindness into your process, your culture, and your product. Knowing who you are is what sets you apart.
Leverage technology and automation. Streamline, streamline, streamline. No matter what business you’re in, the easier you can make the process on the front and back end, the better the overall experience and the less likely you are to deal with consistent human error. Make it easy on you, your staff, and your clients, and eliminate threats to progress. (Who wants to lose a client because they had to fight with your registration process?)
Stay persistent and resilient. Don’t give up when things are overwhelming, or you feel defeated. when you decide that you have rung your business dry, and gotten every ounce you could out of it, and given everything that you wanted to it, then you’ll know it’s time to move on. Until then, setbacks are steppingstones, mistakes are building blocks, and the sky’s the limit!