Alert! Lack of discipline, strategy and corporate vision are cancer business. It is urgent to know where you are going to make real strong results. Your pain as a business owner is due to your lack of pace and focuses on your path toward your goals. Trace the route to get a profitable company to grow steadily and produce predictable profits is your obligation as an entrepreneur! Otherwise, continue to live in uncertainty, full of stress and frustration.
It is imperative that you ask your vision and your goals are aligned, they are clear and you have given high returns? You may have clear your goals, but your day-to-day and your decisions do not point in the right direction, so today want to share the five steps I’ve seen again and again and generate the maximum impact on the achievements of your goals. Do not forget this is not information to store in the drawer of memory, if not start to perform these actions after reading will follow you complaining about the same results.
1) Make your strategic plan on a page: This is one of the most effective tools of planning that exists: on one page identify the vision of your business, values, your business formula, strategies, actions, key performance indicators and SMART goals (Specific, Measurable, Achievable, Result focused, Time-Bound). In other words: Specific goals that are clear, unambiguous; Measurable to assess its growth; Achievable. This means that they are ambitious but not unachievable; Aimed at a particular outcome; and with clear dates and determined to be achieved.
2) Knowing the current value of your business: You need to know where you are today to define where you want to go. You need to calculate the current value of your business to understand how much profit you must generate per year and per month. For example, if your business has a value of $1,000,000 (assets, know – how, customer base) your annual net profit should be $200,000 to $300,000. You are taking this as a goal, you will achieve precisely what you will require to do to generate an adequate return each month and generate this result at the end of each year. But something very important, you must measure your results week to week.
You may also like to read another article on BSOinvest: 5 non-negotiable decisions to grow your business
3) Hire a business coach to help you increase the value of your business: It is a reality for many businesses today. An honest coach will keep you focused to delete what does not serve you, will help you improve your cash flow and increase your sales and profits. All business owners need the attention of an expert, responsible and focus that only a certified business coach can provide them.
4) Assemble a powerful team: If you still do not have a sales manager, an operations manager and administration manager on your computer, it’s time to integrate them. Growing up with a team, it is to increase the rate of generation of profits of your company.
5) Develop your expansion strategy: Prepare your team and leaders to plot the strategy of expansion into other markets, other products and new areas of opportunity in which you can participate. This will give you a vision and clear picture of the steps from this very moment.
At the end of the day, begin the path to create financial freedom, personal and life it is a decision and you is the will to overcome the challenges that your business holds you. Do not hesitate and get ready to grow your profits.