There are many frustrations that come along with running and owning a business. From time to time you may have even felt like quitting your business. But things don’t have to be that hard. As a small business owner you have the opportunity to create the perfect business. One that integrates all aspects of your life, lifestyle and business goals. Here are 7 ways you can start removing those frustrations and get the business you always dreamed of:
1. Have A Vision For Your Business
Why are you in your business? If you’re not sure how to answer this, chances are you don’t have a clear vision for your business. What’s a vision? In brief, it’s a picture of how you see your business in its ideal state.
There are many resources available on how to develop your business vision. A vision plays an essential part in the success of your business. A vision is vital if you want a business that excites you instead of one you’d like to quit.
2. Identify Clear Goals
“Vision without action is a dream. Action without vision is passing time. Vision with action can change the world” Joel Barker.
A vision alone will not provide the daily structure required to head towards it. It’s too far “out there”. In itself, it’s not enough to move your business forward. This is where clear goals and objectives come into play.
Set defined goals that target the development and growth of your business. These goals need to improve your business as well as provide some fun along the way.
Stressed, unhappy business owners generally don’t have any powerful or clear goals. Either for their business or their personal lives.
3. Relate Your Goals To Your Vision
All too often business owners set goals without tying these goals to their vision. If your goals don’t line up with your vision, or don’t move towards your vision … what use is that? Don’t set goals because you know it’s an important thing to do …. set goals that will move you toward your vision.
4. Focus On Your Target Market/Ideal Customer
Do you know who your ideal customer is? What criteria have you set to recognise and define them? Or do you invite anyone in the door … using the “warm body” theory.
Taking on a less than ideal client does not always pan out well. Always be willing to walk away from business.
This might not be appropriate dependent on your type of business. eg, An internet-based business may have a different set of rules to a service business. But this doesn’t denigrate the fact that you should define who your ideal customer is. You always need to know who your target is.
5. Have Systems
Systemising your business is crucial to getting your business under control. Systems will allow you move toward your goals. Better still, they’ll allow you to create a business that is capable of running whether you’re working in it or not.
6. Measure The Results
Without a measurement system it’s hard to know how your business is tracking. If you don’t have some way of knowing if you’re winning or losing your motivation will start to disappear.
This is where KPIs (key performance indicators) and similar measurement tools are vital. Make sure you show these in a way everyone can understand. Eg. A bunch of figures on a page might not do the job, whereas a simple graph will paint a picture everyone can see.
A measurement system is vital. You can’t celebrate the wins if you and your team don’t know about them. In the same manner you can’t change tack and impact any losses either.
7. Be In Control
Do you spend long hours at work, slaving away in order for your business to succeed? There’s no winner when you sacrifice yourself or your family for the sake of a business.
Ask yourself this: Do you have a business, or does your business have you?