Every time I meet with a new client our conversation centers around, what’s happening in your business? I often hear things like; I need help, I don’t really know what I’m doing, I don’t have a plan.
These responses are common when you’ve been in business long enough to know that what you don’t know is getting in the way of your success.
Getting in the way of your success is very real. Some of the ways this shows up is sporadic or declining sales, an increase in expenses and a decrease in revenue, always needing more money to cover expenses, employees not showing up for work and yet their timecard tells a different story.
If these symptoms are showing up in your business three of the underlying culprits are leadership, systems and understanding of business. Let’s face it as the CEO of your company you must show up with a plan that gets YOU the results YOU want.
Leadership in every business starts at the top and to be successful in business and have your customers experience your business and your products and services the way you want, you MUST be the leader…the shining example of what you want your employees to do. As much as we would all like to believe that we can run our business on our own, deep down we know that isn’t true. It is true if you want to burn yourself out trying to wear all the hats in your business and sabotage your own success but there’s a better way. Leadership sets the tone, creates the culture of your company and allows your employees to contribute in a positive way to the success of you and your business. Leadership allows you to duplicate yourself in your employees thus giving you more time to work on your business and get the results you want. Leadership grows you as a business owner and keeps you from getting in the way of your own success. When you are focused on being a good leader, hiring your employees is an investment and you take the time to hand pick your staff.
Business systems set standards of professionalism for your business and allow you and your staff to be consistent and efficient which saves you time and money. Systems don’t need to be complicated. They can be very basic. The purpose of a system is to document your process so everyone on your team follows the same steps thus making the experience your customers have consistent and memorable. Systems establish a process and give you a way to measure the efficiency of your process. It doesn’t matter if you are pulling and shipping orders all day or manufacturing your products consistency creates efficiency and ultimately improves your bottom line. What kind of systems are you using in your business? Are they current, efficient and allowing you to consistently deliver your products and services? Systems or a lack of systems affect every area of your business. Having systems in your business keeps your accounts receivable current, your orders processed timely, the delivery of your products consistent, by creating repeatable processes and reducing errors and improving efficiency. Having good systems in place allows you to grow your business in a consistent sustainable way and keeps you from getting in the way of your success.
Understanding business is like leadership and systems, it can easily get in the way of your success. As the leader of your business, understanding how your business is doing is critical to making the right business decisions at the right time and it’s impossible to do that if you don’t understand business. Understanding business starts by having a plan of what you want and the steps and actions you are going to take to achieve your plan. This creates the direction for your business and the steps you are going to take to achieve your plan. Understanding business means you know what you need to do and you know how to do it. Things like hiring an employee, having the right business insurance and team of advisors, setting up your business correctly, developing your products and services, creating your marketing message and marketing your business, keeping good business records both on your customers and financial records. Understanding business means you look at these areas of your business each month, understand what your results are telling you and you use this information to make business decisions.
If you are not a strong leader, have little to no understanding of business, and don’t have systems in place, you are sabotaging your success. Get help today and I guarantee it will be the first sign of you becoming a strong leader!