The Business Edge Blog

December 20, 2012

The 4 Presents I Would Put Under Your Tree This Christmas

Christmas Presents

If you own or manage a business there are 4 presents that I would put under your Christmas tree this year. Successful business owners would agree that if I could box these up and put them under your tree you would be well on your way to growth and prosperity.

Present  #1: Clarity

Clarity of your Vision, Mission and Values.  A clear vision of who you are, what you are and what you stand for is at the core of every successful business.    Of the four packages under your tree, this present would be the largest one.   It is the foundation upon which everything else in your business is built.   Before you open any other gifts, open this one.   Until you establish clarity for your business it is hard to move forward with a purpose.

Present  #2: Focus

Focus on what matters most. As a business owner you probably feel like you are being pulled in 10 different directions at times.  Once you have clarity you can begin to focus on what is really important and what path you need to be on to reach your goals.  Stopping to analyze if what you are doing is the most important thing for you to be doing at that moment will help you to prioritize and decide which of those directions you are being pulled is the right one to focus on.  Decide what your goals are, then write down the action steps you need to take to get there.  Set achievable goals in terms that you can measure progress along the way.  Define dates for reaching the goal and identify who will be responsible for monitoring progress in a fun way.  Think of the charity’s Christmas stocking thermometer billboard with a clearly defined goal and updating along the way to clearly show what has been achieved and how much more work needs to be done.  Find something that works for your goals.

Present  #3: Momentum

Momentum to achieve your goals. Avalanches start from one small section of snow breaking away from a slope.   Something causes the first section of snow to break away. Focus can be the start of the tremendous growing force in your business.  The focused momentum that you start ignites excitement in your employees and customers and is contagious.

Present  #4: Accountability

Accountability for success. Your fourth present is the one that can sit in the back of the pile and get overlooked.  If you don’t open it and implement it with the other 3 presents, all the presents may as well be packed up with the Christmas ornaments and not be looked at again until next year.  Without accountability, all the gifts and all your work can lose their luster and end up collecting dust on a shelf somewhere as a partially implemented project.  You have great intentions for the year, but without accountability the year flies by and before you know it the Christmas tree is up again and the year is almost over.  This may be where you are right now as 2012 is ending.  Don’t let it happen again in 2013.

____________________

As you open the gifts under your tree this year, remember that you can give the biggest gift of all to those that are most important to you – a thriving growing business that fulfills your dreams and theirs and makes a positive impact on the world.

Let me know how I can best help you achieve your dreams for your business in the comments below.

October 16, 2012

7 Keys to Success for Business Owners – Part 7 – Presenting

How do you know what to focus on day-to-day?   Presenting may help.

Sometimes business owners come to me when things aren’t clear to them about what they should be doing next.  I ask them to present their company by answering questions about each of the six points already covered in this series.

Often the light bulb quickly goes on when they realize which of the areas they are not doing much or anything at all in.  “Maybe that’s the answer,” some have blurted out.  I may have known it was the answer, but it’s always best to have someone discover it themselves. Presenting brings it all together because you have to truly understand something to present it.

What do you think? How do you present your organization to your employees, the bank, vendors, investors, or the general public? You’re probably better than you think, because if you weren’t doing some version of these 7 Keys to Success well, you would have been out of business a long time ago.  Perhaps you could use some fine tuning in a few areas or maybe a complete makeover.  I’ve been through just about any scenario you could imagine with my clients.

Your homework assignment is to revisit your Vision, Profit Plan, Marketing Plan, Organizational Plan, Leadership and Cash Flow Forecast.  If you have someone to present these to, do so.  Give them permission to ask you questions about what is not clear.  In the presenting it may become very clear what you should be doing next.

If you’d like to present your business to me, email me to schedule a conversation at coach@thebizedge.biz.

_________________________________________________

I look forward to hearing from you.  You can join in the discussion and post your thoughts below.

Until next time – Remember to mind your business!

July 17, 2012

7 Keys to Success for Business Owners – Part 2 – From Vision to Action

From Vision to Action –  In the last issue I introduced you to the 7 Keys to Success that successful business owners focus on as they grow their businesses.  The 7 keys are:

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

The exercises in the last issue included drawing the diagrams to formulate the overall vision for your business so that you could describe it to someone.  More specifically, refining your vision to the point of defining details of your business 3 years from now including:

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?

My business coaching clients enjoy doing the exercises.  It’s fun to look into a crystal ball and dream BIG.  How did it feel for you to envision the growth of your business?

Now it’s time to define what it would take to get your business from where it is today to where you envision it could be.  Regardless of what your vision is, or what your business is, I guarantee that it takes ACTION, often different action from what you are doing today.  Albert Einstein said it well…..

Insanity: doing the same thing over and over again and expecting different results. Albert Einstein

I know you are busy.  I know you are working “IN” your business every day.  But it’s time to start working “ON” your business.  If you keep doing the same things over and over again, you can’t expect different results.

Look at each of the areas in your business vision that are different from where your business is today.  What ACTION do you need to take to move forward toward your vision?  Start a brainstorming list.  You’ll think of more things as you spend more time on this.  Often you can define big steps you need to take, but they can be daunting.  List the big steps, but then begin to list all the small steps that it will take to reach the big step.  Let me give you an example –

Let’s say your vision includes moving to a different location.  What are the big steps involved?  At a minimum you’d need to find the location and build it out to suit your needs.  Huge steps.  Start with the first one, find a location.  What steps do you need to take to get to that point?  Define your space needs?  Look at existing spaces or building sites?  Determine the cost?  Explore ways to pay for it?  Once you start breaking the big step down into smaller steps you can start to define the ACTION that you need to take to get from where you are to where you’d like to be.  One small step at a time.  If a step feels too big, break it down again into smaller ones.

What are the ACTIONS that you need to take in your business?  If you don’t start doing something differently, where will your business be 3 years from now?  In contrast, if you DO start taking ACTION, where could your business be even one year from now?

I look forward to hearing from you in the comments below.

Until next time – Remember to mind your business!

Holly Hanson
Licensed Professional Business Coach
The Business Edge
The Headlights and Guardrails for Your Business

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

December 13, 2011

Goal Setting for Success in 2012

Step #1 Defining Success –

One of the key things that I find helps determine success for my clients as they head into the new year is a clear plan.  Don’t get scared off – I am not going to ask you to create a formal business plan – I’ll save that for a later post.

First I’ll ask you to fast forward in your mind to December 31st 2012.  If we were sitting together on that day, what would you say that would convince me that 2012 was a success for your business?  Is it the number of new clients?  Is it the end of year income statement?  Is it being able to take time off while the business keeps running?

Step #2 Focus on Success –

Once there is a definition of what “success” for 2012 will look like, we have a place to focus throughout 2012.  How can the goal be broken down into milestones throughout the year?  Let’s say the goal is to gain 52 new clients.  Using simple math, that would mean adding 13 new clients a quarter.  Now we have a yardstick to know if we’re on target or not.  Every quarter, take a count.  Is what we’re doing working, or do we need to try new tactics to reach the 52 mark by December 31st 2012?

If we need 13 new clients every quarter to get to 52, and there are 52 weeks in a year, we can work on gaining 1 new client a week.  How many people do we have to reach to create 1 new client?  If the closure rate is 1:1 or 100%, then we only need to talk to 1 new person a week.  If the closure rate is 25%, then we need to make sure systems are in place to connect with 4 people a week to lead to signing on 1 as a new client.  What strategies are in place to get you in front of those 4 new people every week?  Are you doing public speaking, presenting educational nuggets in person?  Are you blogging?  Are you faithfully networking in places where your ideal clients will be found so that you can increase the closure rate?  On December 31st 2012 it will be the things you put in place now and throughout the year that will make the success measureable with those 52 new clients!

Or….if your goal is to be able to step away from the business every once in a while without affecting the success, try it in small bites.  If you’re gone for an afternoon what comes up?  Can you develop systems to address that issue and issues like it so that they don’t require your personal involvement?  Get the systems in place and try being gone again.  Keep increasing the time away and quickly create systems to deal with the issues that come up.  By December 31st you may be on a beach with your business successfully running back home!

Share with us your vision of success on December 31st, 2012.  I look forward to seeing your business grow!

Blog at WordPress.com.