Spring is about new life and everything looking ‘brighter’ and this could also be true of business, it’s a great time to Restart, Review and Assess your business
I firmly believe that every business is different. It might look the same as the similar business down the road, but the people, the Why and the How are all going to be different.
My aim is that all business owners can run a business that they are proud of, that fulfils them and that rewards them for the work and leadership they bring to the organisation.
As we’re getting the country back to work and the economy functioning again, it is time to look at the areas in your business that have suffered over the last year. There are several symptoms that we see that show a business requires some help. Like a doctor looking for the signs in their patient to diagnose the root cause, we look at some of the pain points that business owners are experiencing to be able to help. If the last year has been about survival for your business, now is the time to think about becoming better.
There are six main causes of pain in business, and like the human body, if you are out of sorts in one area it will have an impact on the other areas which will lead to a rapidly dysfunctioning business.
In other words, you need to obtain balance in your business to have a truly successful enterprise. Every organisation’s movement to this place will be different, just as every patient responds differently to a treatment. You, your business and your journey are unique, is it time to have the business and the life you want?
Vision
As Simon Sinek says – the most successful businesses are those that know why they do what they do. Knowing your vision will keep you going when things get tough and will permeate every part of your business and colour every decision you need to make.
Symptoms that you have a problem with vision are:
I don’t know where my business is going.
I want to give up – it’s too hard.
I keep trying new things and nothing works.
There are so many opportunities, I don’t know where to go next.
I am comfortable where I am.
Money
Every business must have an understanding of where the money is in their organisations, even not-for-profit organisations need money to survive and to continue to fulfil their mission. Not being able to read the accounts, and not knowing the numbers within your business will lead to chaos and uncertainty. You cannot rely on others to talk to your business or you might lose something in interpretation.
Symptoms that you have a problem with money are:
- I can’t pay myself a living wage.
- I never seem to have enough cash.
- I have no idea what tax I am going to pay.
- Bills always surprise me.
- My customers never pay me on time.
Time
We all only get 24 hours in a day, 60 minutes in an hour and 60 seconds to every minute. It is how we use them and how we leverage other people’s hours, minutes and seconds that will make a business successful. Planning your day, reviewing the use you make of time and organising yourself will make a big difference to your success.
Symptoms that you have a problem with time are:
- I never get to see my children.
- I work all day every day.
- I am working all the time and do not seem to get anything done.
- I have so many commitments that I do not get time to think.
- Our meetings are out of control.
- I never get to do the things I enjoy any more.
Operations/delivery
Most people went into business because they were good at what they do, they have a rare skill that they want to use to make money. However, running a business is more than being a skilled technician and the pressures on a business owner may mean that he is not the person doing the work, or that the work has grown to encompass more than his original skillset. Inadequate controls and systems may mean that the work itself is great, but the customer experience is rubbish.
Symptoms that you have a problem with Operations are:
- I am getting a lot of complaints.
- Everything takes longer than I think it should.
- I am not sure we know what we are doing.
- We have very busy periods and then nothing.
- My suppliers keep messing me about.
- We have very few repeat customers.
- I have too much business and cannot cope.
Team
There is a limit to what we can do on our own, to truly have a successful business, rather than a job for life, you need to bring in other people. People are not, however, only resources, they have a brain and emotions and issues both personal and work-related that you as the team leader need to deal with. Getting the right people on the right bus will really drive your business to the success you are dreaming of.
Symptoms that you have a problem with your Team are:
- I can’t find good people.
- Everything relies on me.
- My team are useless.
- Everyone wants a piece of me.
- I am so busy helping my team, I don’t get to do my job.
- My staff turnover is high.
- I must do everything around here.
- I trusted them and they let me down.
Sales
Many of the problems with sales come from the other five areas, but as this is one of the areas that is most likely to be the first to see the symptoms, I have included it as a separate area. Without sales, (or the future promise of sales) you have no business. With no income, you have no money. If your enterprise is not set up to raise money in some way, it can only be deemed a hobby. A successful business has a successful sales and marketing machine.
Symptoms that you have a problem with Sales are:
- I can’t find the customers.
- No one buys from me.
- Our sales don’t cover our costs.
- Our salesmen promise the earth and then we can’t deliver.
- Our sales team are not hitting the target.
If you want to review your business, then speak to me or one of the ActionCOACH team who will help you to find your way back to greatness.
Book in for one of our gifted strategy sessions here
Remember – you don’t have to be ill to get better.
