Who doesn't want to be successful in business? I don't know one person who wakes up and claims "I want to fail today". So why do many businesses or business systems fail? Whether you are an entrepreneur, an executive, a small business owner or an employee, there is a standard blueprint to business growth and success - 7 core strategies that are the foundation to every successful business.
1. Bold Thinking
To grow your business you need creative ideas. To create powerful ideas, you need to think boldly. Bold thinking is the art of reaching out of your comfort zone and developing solutions to do things quicker, faster and cheaper or to set yourself apart from your competition with a new product, new brand or a new process. For example, if you traditionally sell on a one to one basis, how can you sell to a group and maximize your time - a hair dresser who traditionally works with clients one at a time can host hair parties and do hair in groups. If you are in a transaction type of business, how can you reduce your transaction volume but increase your unit cost while maximizing your profits - how about increasing your fees? If you are in information marketing, how can you develop the next ebook, membership site or workshop that sets you apart from your competition? To be able to think boldly, you need quiet time away from distractions. Allow yourself time each day to shut down, no t.v, no kids and no phones and just think. Open your mind to possibilities. Our brains are pre-wired to be creative and to solve problems and if you give yourself the opportunity, you can create innovative ideas that will change your business.
2. Access to Learning and Information
New information is available every day and if you are not learning new things all the time, you and your business will not evolve and grow. I work with many businesses and to my surprise, investing in education is not a priority with some. One area where you are certain to get a return on your investment is in education. Surround yourself with a power team and share ideas and information. Don't be afraid to reach out of your industry. Sometimes something that works in one industry can translate into a powerful new idea for your industry. Enroll yourself and your staff in classes and mastermind groups and read about emerging trends. Unless you are constantly learning, you may never come across the next best great thing...
3. Opportunity Discovery and Deployment
The ability to identify opportunities and more importantly, to act upon them is critical to continuing success. Too often, businesses deploy the same practices over and over again and they are so surprised then they get the same results. If you could envision a brick wall and a man running towards it and crashing up against it over and over again in an attempt to get to the other side. He continues to go towards the wall in the same manner he always had and fails to recognize the opportunity to walk around the wall or climb over it. Be open to new opportunities and willing to try new approaches.
4. Strong Support System
You cannot grow your business on your own. You need a team or a strong support system to help create and implement new ideas. One of the principles in "Good to Great", is get the right people on the bus. As business owners, you need to consistently evaluate your support team and be comfortable with their skill, their contribution and the innovation. You also need to be resolved to the fact that your legacy people may not be the right team to get you where you want to go at the speed you want to get there anymore. They may have done a wonderful job in the past but may no longer have the skills, motivation or talent required to keep you moving.
5. Networks and Contacts
No matter what area of business or what industry you are in, your contacts, prospect lists and networks are the lifeline to business expansion and growth. Actively building your network is one of the strongest pillars and requires your attention personally. Business is based upon human interaction and connection and your ability to cultivate relationships will most likely be the source for your next great opportunity, joint venture or business idea.
6. Inspiration and Motivation
Staying focused requires motivation. As business leaders, we carry a large burden on our shoulders to create an energy that will inspire everyone in our circle to perform: Employees, vendors, clients and partners. To maintain the required energy level, we must be motivated and inspired ourselves. Surrounding yourself with positive people who build you up is one of the final pieces of our foundation. Too many times, business owners allow the opinions of others and the judgments of many, dictate their mood. You need to move away from things and individuals who do not inspire you. You need time to recharge and reflect on your core values and translate how those values impact your business. Positive energy creates positive outcomes.
7. A "Can Do" Attitude
All the bold thinking, new information, opportunities, strong support system, large network and motivation will be worthless without a can do attitude. In order to make change and be successful, you need to take action. Many business people come up with wonderful ideas but fail to take action and fail to grow their business at the speed possible and most times out of fear of failure. In business there is much failure and it is important to understand that failure is okay. Not every idea will work and it is imperative that you do not let past failures shake your can do attitude. Continue to create and implement new ideas and continue to believe in them. You need to believe that you can achieve anything and focus your energy on accomplishing your goal. That energy will turn to action and your business will evolve.
