Surefire Tips To Make Your Business Profitable!

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Surefire Business Tips

If you have a small business or enterprise, you have probably had the conversation with yourself at some point about tackling tasks and meeting goals. You may have even decided that it is time for a process overhaul, whether big or small, and the time has come to evaluate your current state of affairs.

Businessman Planning
Below is the “dictionary” definition for efficient…
Efficient (adjective) – performing or functioning in the best possible manner with the leas twaste of time and effort; having and using requisite knowledge, skill,and industry; competent; capable:

But what does this MEAN? How do you correlate the definition of efficient production or provision of services to the bottom line of your organization? The current atmosphere that all businesses compete in is a global one, whether they realize overseas competition exists or not. Small businesses must consistently work at not only their brand presence, but also the relationship and role it plays with customers and it’s community. Time and resources are the most precious of commodities – so make haste, not waste as they say! If profit is the name of your game, and you’re realizing that the deck is a bit stacked against you, here are a few tips on how to increase productivity and reach a better bottom line.

Embrace the Future!

Change can be hard. REALLY hard, yet it is something that must be accounted and prepared for. Setting up contingency plans early can save you a lot of headache later on. Curve balls WILL come, so expect the unexpected.


Translation:
Have a plan B, C, D, E and throw in a plan Z for good measure. Do not fear the change, embrace it and instead brainstorm ways in becoming a trendsetter in your arena. Trying to understand how to grow your presence in social media? Take the time to understand your target market and how they operate. What are they interested in? Want to expand to offer more products?

Do your RESEARCH! Take the time to understand how trends have evolved and come up with your own predictions of what the future might hold, or how you can integrate your own brand into the coming wave. Even in today’s current state, there are still many companies that have failed to grasp the importance of a proper online presence, let alone integration with social media. I do not think I need to spell out how detrimental a lack of a good online branding program truly is…

Never rest on your Laurels

ArchitechtColin Powell said it beautifully “ If it aint broke dont fix it – its the slogan of the arrogant, the complacent or the scared. Its an excuse for inaction, a call to non arms”.

Your race as a business owner or professional is never finished, at least until you hang up your running shoes and sail off into retirement-land.

Translation: Envision your life is a long trail filled with mile markers, always something that needs to be worked on, always a goal that needs accomplishing. Once you alter your mindset to understand your goals (short term, long term and UBER long term), it will become second nature and a part of your essence as an individual. It will not be difficult, just natural. Use the sweet taste of success to feed your fire, and keep it nice and hot!

It is OK to have Help

As a small business owner, it can become habit to want to do EVERYTHING yourself. You might be trying to save money or just a control freak with issues letting go. Stop It. Right now. Take a look at the business level right above your current situation. Do you see a lot of armies of One?

 


Translation:
Build a team. Build connections. Build a network. Even if you have a small group of contractors that you use every now and again, have a few people or business that you can outsource tasks to. It will help you keep your sanity in the long run, and it can be extremely satisfying to know you have multiple business to business relationships that have your back if you get in a pickle. Do your due diligence in who you chose however, and have faith – it will work out!

Time is your MOST precious commodity
>>>Make the Most of it!

Every now and again, take a step back and fully grasp the whole picture. Just because things are moving quickly, does not necessarily mean that everything is peaches and cream.

Translation: Understand ALL of your finances – accounts payable, accounts receivable, current contracts and those that are ending soon. Schedule out upcoming deadlines, check on the health of current investments. Make sure you are getting whatever it is you are paying for. Analyze which paths you have traveled and with who, and where you want to travel next. Write it ALL out. Stabilize yourself – no one likes the nasty realization that things have fallen through the cracks and that it is going to negatively impact what you are trying to accomplish.

Establish Realistic Goals

I like to look at establishing business goals as I would a weight loss goal. If I want to lose 100 pounds, setting a short term goal of 20 pounds is a good place to start. Do not psyche yourself out by trying to absorb and plan everything, including 10 years from now, immediately. Times change, technology changes and YOU will change.

Translation: Focus on solidifying your immediate state of affairs, and 6 to 12 months into the future. Picture where you would like to see, and even set up a vision board (They are great for daily reminders and visualizing your desires, making them personified). Set up a budget, as there are a ton of free apps and programs out there to help you do just that. Clear out junk and clutter from your personal space so you can have a place of zen to operate from. Have a to do list that is trying to roll off your desk and out the door? Start with a huge chunk of the smallest and easiest tasks, not only will it make you feel better to check stuff off, it will help you focus on the bigger behemoths that require your attention without feeling scattered.

Businesswoman using laptop at conference table

Tough Choices and Even Tougher Decisions

I know this may be a difficult concept to absorb – not just hear but actually internalize, but whatever you do, do NOT make business personal. I cannot stress this enough. When you operate in a free market, you will run into ALL types of people and this means different personalities, motives and business values.

Translation: Keep your judgement clear. Your end goal is to make a profit, not to argue with someone because you don’t agree with their methods or even their personal life. This is also why I am very hesitant to go into business with friends and family as the line between personal and business life cannot often times become blurred. Getting upset with someone in the workplace because they slighted you at last week’s function is not good business etiquette. If you cannot keep it separate with no hard feelings, then perhaps a reevaluation of said relationship is in order.

There WILL be times where you have to swallow your pride, anger or anxiety in order to get the job done. Accomplish your goal(s), and address your issues AFTER if at all. Communication is fundamental when you are your own boss, but health of your bottom line will dictate whether you make it through the finish line.

These are things that I have found to be tried and true in my own journey to success, and I want to share as many tips as I can. I want see as many people succeed as possible. After all, knowledge is power – so how will you harness yours?

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