Published: September 28th, 2018; By: Judi Hughes
When I first started in business, some colleagues gifted me a crystal ball and a magic wand. The crystal ball to look into the future and the magic wand to make things happen. They assured me this was all I would need to build my perfect business.
That was a long time ago and I have since confirmed that it takes way more than tools of sorcery to build the business you want.
It starts with knowing what your perfect business looks like. What does your perfect business look like?
I have asked many business owners this question. The answers have varied but they all boiled down to this …
We want our perfect business to financially support the life-style we want. We want to do work we love with people we love. We want time to pursue our personal interests. We want to have fun and make money.
Simple – right? So, how do you build your perfect business? Wave that magic wand!
Or … Implement these three strategies that we know work:
Create Clients for Life:
Stop Transactional Selling. Design your products/services into multi-step programs that repeat themselves over a one-year timeline. To minimize the number of times you need to have “the money conversation” you want repeat customers who buy repeat products regularly.
Build-in Great Margins:
Be sure your products are profitable. This sounds like such an obvious statement … however, are you sure your products are profitable enough? Is your top-line profitability enough to cover your operating expenses and pay you what you want to be paid? Constantly review your pricing and revise accordingly. Don’t get caught in competitive pricing – don’t discount. (Read More Here)
Stick to Your Knitting:
“Stick to your knitting” is a term first coined by Tom Peters author of ‘Search for Excellence’. Translated it means – carry on doing what you are familiar with and what you do best. Stick to what you started, deliver it to the best of your ability, manage and measure the effectiveness and refine accordingly. Don’t be distracted by shiny objects – it confuses your customers and diverts time and money that could be supporting your growth and your life-style.
Building the perfect business takes more than the magic in tools of sorcery. It takes clarity and knowing where you want to go. It takes setting strong and purposeful strategy. It means taking consistent action to make things happen.
I still have my crystal ball and magic wand – just in case. I have been known to call on them from time-to-time; seeking a bit of insight into the future and setting good intentions for great results.
Your perfect business can be anything you want it to be and more – If you plan for it!
As always, feel free to contact us directly. We’d love to learn more about you and your business.