|
Business
owners are becoming increasingly anxious about what might happen
to their business if the dreaded recession actually settles in.
However, by focusing on the business fundamentals, you can
actually THRIVE during such a crisis! Here's how:
Focus on the
Eight Essentials For Business Success. Now, as you read these,
you may say, "This is old hat - every MBA tells me to work on
these!" Just bear with me, please...
Do a quick
check-up on your business. How are you doing in these Eight
Essential Areas?
Essential
Area 1: Product/Service and Operations
Have you
optimized the way your company delivers your product or service
so that it's the absolute best it can be? Do you know what the
best is? If not, you're going to continue to lose business to
companies who have this area nailed down!
Essential
Area 2: People
Do your
employees, vendors and other service providers know exactly what
they should be doing for you, and are you providing these people
with the critical resources they need to excel in their job?
Watch out - your competitors are empowering their employees
while you sleep!
Essential
Area 3: Sales
Do you know
what your sales system is? Have you written it down? Have you
transformed your customers into cheerleaders for your company so
they'll enthusiastically spread the word about you? The future
of your business is riding on your ability to soar in this Area.
Learn to create a rock solid Sales foundation you can build upon
for years to come.
Essential
Area 4: Finance and Accounting
Do you know
what your net margin is on each product/service you sell? Too
many creative entrepreneurs let finances and basic principles of
business management sit on the back burner, to their ultimate
peril. Hint: your accountant is not providing you this!
Essential
Area 5: Product Development
Are you
thinking for the future? Are you spotting trends and making
plans to act on them? What will you be selling when your present
"hot product" has completed its sales cycle? You can be sure
that your competitors are thinking ahead, and you should too!
Essential
Area 6: Leadership
Have you
crafted the long-term vision of your company? Are all your
people on the same sheet of music with that vision? Do they see
you as an inspiring leader or as just another client or boss?
When you read about great "business leaders," this is at the
core of what they do. Now, you can learn how to become this kind
of leader for your own small business!
Essential
Area 7: Marketing
Do you know
how you will fill your sales pipeline next month? Next year?
Better start filling it now - your competition is already
filling theirs! The CEO Mastermind will help you put a laser
focus on your business growth through targeted, potent marketing
techniques. Understanding the basics of targeting, strategies,
tactics and implementation will give you what you need to create
your own powerful marketing plan.
Essential
Area 8: Strategic Planning
How much money
do you want to make and how do you plan to get there? Do you
know what your 5 year and 10 year business strategies are? Do
you know how to get there? What about your legacy? All
successful companies have strategic plans. Many of your
competitors do - it's time for yours!
How does all
this relate to the possible coming recession? It's very simple!
If you are
strong in all eight of these areas, then you will handle any
downturn well. Chances are, you have some work to do. If so, get
busy!
|
For
more on how to bullet-proof your business, check out the
free assessment listed below
Henri
Schauffler, The CEO Coach, has dedicated the last 20 years
to helping small businesses like yours to "Outmanage,
Outhire, Outsell and Outprofit All the Competition." For a
FREE business assessment and tune up to see exactly how you
are doing in all Eight Essential Areas for Business Success,
go to
http://www.QuickBizQuiz.com
Article Source:
http://EzineArticles.com/?expert=Henri_Schauffler |
|
