I wanted to talk to you about how you see yourself within your business. It is certainly something you need to decided before you go ahead and make your New Year’s Goals if you want to make more money. What do you see your role as in your business? Are you the self-employed worker or are you a CEO and leader of your company?
I have already said that what you expect, you get. So unless you want to be stuck working long hours, constantly being rushed off your feet, and possibly seeing very little return then you want to start thinking like a CEO of the company you want to create.
So often we get easily caught up in the day to day running of business and lose sight of what it is we really want, and that matter. This starts by allowing yourself to get sucked in by many of the ‘timewasting’ evils, but this time I am talking about taking things to yet another level.
The top 3 things you should focus on, on a daily basis to truly take on the leadership role of a CEO:
1. Know Your Statistics
Looking after the numbers is a strategic focus that is often neglected by small or solo business owners. They will often see it as something that only big companies need to look at. Let me tell you though that Key Performance Indicators are important for you too. I was guilty of this, my excuse was “There’s money in the bank, she’ll be right!” – Sorry, but this is not how it works. When you start to have an accurate record of your Profit and Loss Statement, Balance Sheet, Weekly Sales, Subscriber numbers, Site ranking etc, you will make more money. Know your numbers and then set your goals with a big stretch. Your focus in this area will ensure that that ‘gap’ between where you are at now, and where you want to be, will be filled. It is so motivating to actually see the return of your efforts reflected in black and white on paper. This will also allow your decisions to be more informed and will reduce much of the stress that can occur when you don’t know what is happening in your business.
2. Focus on Strategic Relationships
Rather thank focusing on the next client, focus on getting your message out to as many potential clients as possible. In other words, look to build relationships with Joint Venture Partners. Spend your time networking with them, see how you can benefit them and build win -win agreements. Developing such relationships takes time, so start early and regularly do something to maintain these relationships. This will grow your business exponentially faster than focusing simply on getting one client at a time.
Practical tip: Research 5 potential JV partners and start building a relationship with them eg. by commenting on their blog posts or retweeting their work.
3. Focus on Systemising Your Business
In order to grow your business successfully you need to build leverage. You can only leverage your own effort by systemizing everything you do. Ideally you will find a piece of technology that replaces your manual effort. For everything else you want to start hiring team once you start to grow. In fact the time to start hiring team is when you know you could be doing income producing tasks but you don’t’ get to it because you are stuck doing something someone else could do.
Practical tip: Make a list of 5 things you want to let go of doing in the next 4-6 weeks, decide how to systemize them and start to action this immediately. Document your processes as you develop them and start creating a procedures manual or even better – hire a virtual assistant to do that.
I know it’s a big step for many small business owners to shift their focus to these things above, and it really makes a big difference to your productivity and your time and ultimately your income when you do. Don’t thing your business is different! These focus areas can be applied to any business model.
Being successful in business often means getting delayed gratification for our efforts. The 3 things above take some time to pay off and I promise you when they do, they do so in multiples. So lift yourself up and do the things the small number of successful entrepreneurs do who are making solid 6 figures and more.
What is your experience with implementing these things? Which of these things will you focus on? Leave me a comment , I love to hear from you!
Fay McLean CEO & Founder of Laser Connections, helps Medispas and Aestheticians get a reliable flow of new clients and grow their clinic online using a proven Digital Advertising System. Click Here to Apply for a FREE Strategy Session ($150 Value).