The Business Edge Blog

June 26, 2012

7 Keys to Success for Business Owners – Part 1

7 Keys to Success –  Many small businesses are stuck in a state of how.  If you are working hard at the right things, your odds of getting unstuck increase dramatically.  But how do you know what to focus on?  There are seven things that all successful business owners focus on to run their companies

I will introduce you to the 7 Keys to Success and highlight one of the topics in each of the next few blogs.  The 7 Keys to Success are:

Vision
Profit Plan
Marketing Plan
Organization Plan
Leadership
Cash Flow Forecast
Presenting

Vision:  He had been in business a few years when he asked me, “How do I open my second location?  I see 12-15 locations when I’m done, but I don’t know how to open that second one.”  I knew he had the hard part down already.  He knew where he wanted to go!

Where will you and your company be in 3, 5, 10 years?  Can you see it and paint a picture for me in a couple of minutes?  Or are you at a total loss for where you and your business are going, but you work hard week after week and each feels like a repeat of the week before?

Why does it seem so easy for other owners?  What are they doing that you are not?  How do they do it all?  They don’t work any harder than you do.  The answer to these questions starts with knowing where you want to go, your Vision.

Take out a notepad and begin to write your thoughts and draw the diagrams to formulate what your overall vision is for the business.  Get a fairly clear picture so that you could describe it to someone.

Leap forward 3 years from today’s date.  Grab a journal and write that date on the top of a clean page.  Describe where your business is on this future date – 3 years from today – using the present tense, not future tense.  Answer these questions:

What are your offerings?
What does the organization look like?
What is your role in the organization?
What rewards are you enjoying?
Who are you working with?

Keep your journal handy as we work our way through business topics that will be presented in this blog.  I look forward to hearing from you in the comments below.

Until next time – Remember to mind your business!                       Holly Hanosn, Licensed Professional Business Coach

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2 Comments »

  1. Reblogged this on Council Blogs.

    Comment by councilblogs — June 26, 2012 @ 7:40 am | Reply

  2. Great points Holly! Looking forward to the series. Blessings.

    Comment by Kurt A Berry — June 26, 2012 @ 7:51 am | Reply


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