I know. This is pretty heady stuff for a guy like me.
I figured if Honey Boo Boo and Lindsey Lohan could
throw their opinion into the hat, so could I.
My answer should not be surprising. The answer
is, the president of your company, or in simpler terms, you.
Yes, taxes, regulations, healthcare, and the economy
have asignificant impact on your business; however, they
pale in comparison to the impact you have.
Let’s take a look at each area of your business and
what you bring to the table as the Commander-In-Chief:
Marketing
(Do at least 1-3 things every day)
Use a calendar, your smart phone, or a string on your
finger, if necessary, to remember to do one to three things every day, to
promote your business.
·
Knock on doors, call,
email, or send direct mail to prospective customers.
·
Attend at least
two networking events per week.
·
Call existing
clients and ask for more work or referrals.
·
Partner with
another business, in a different industry that has similar customers, and send
each other referrals.
·
Offer to do any
type of speech or seminar on a specific topic (not a sales pitch) for free.
Management
(Get organized and more efficient)
We lose a lot of time and productivity putting out
fires. Look for some ways to minimize your chaos.
·
Create
Clear Responsibilities - Real
business management means knowing who is responsible for what.
·
Delegate
and/or Outsource - Delegating and outsourcing cannot only improve
your business’ management, but also improve your revenue.
·
Make
Business Planning Priority #1 - “I’m
so busy I don’t have time to plan.” If this is your M.O., take another look at
your work style. Successful small business owners spend time every day on
business planning.
Review the Bottom Line
(Trim more fat)
·
Vendor
discounts – Most vendors
will offer a 1% - 5% discount for paying within a certain period of time.
·
Lower
your inventory levels - Getting a large
number of products in one shipment might seem like a good deal, but small
businesses can’t afford to tie up too much of their working capital in
inventory.
·
Reduce
personal use of business funds – I know it’s not that much. Really it’s not.
But, it is more than you think.
Now let me be clear, the President of the United
States matters very much to your life, liberty, and your pursuit of
happiness. They also matter very much to your business; just not as much
as you matter to your business. Now with that being said, you should cast
your ballot on November 6th, and plan for your business’ success today.
