Over the years we have found that all businesses, regardless of size or scope, absolutely need energy and persistence along with mastering these five basic skills in order to be powerfully successful.
Let’s discuss how you can implement and practice the Five Basics for Business Success now to make an immediate impact on the success of your business.
Communication is critical for ALL successful businesses whether a sole proprietor or an international company. Communication comes in many forms: advertising, social media, memos, scripts, and follow-up procedures, even non-verbal cues when the receptionist greets a guest in the lobby.
Every person from front-line employees to back-office processors, janitors to the CEO impact the company’s message.
They all communicate a certain image to the public and could be either positive or negative. Even a sole proprietor may send miscommunication with a poor voice mail or a lack of systems in place for timely follow-up.
Training on good communication at every level is paramount to becoming exceptional. Take a moment now to reflect on what’s happening in your business.
- Is there an established protocol for communication?
- Is there training provided at every level specific to communication?
- Do employees and customers have a channel to share concerns and suggestions?
Delegation of responsibility encompasses many facets of business: hiring, promotions, terminations, and training for example. This is often one of the most difficult responsibilities for leaders to transition through. Challenges with delegating can be pinpointed to either the lack of resources or trust.
The first component, lack of resources (finances or personnel, or both), sometimes creates a “chicken before the egg” scenario of needing the finances to hire or promote someone to take over responsibilities. We often work with our coaching clients on their business plan to identify a process to allocate appropriate resources for hiring or increasing someone’s pay to match new responsibilities.
The other component is lack of trust – can you give up control over the outcome? Good leaders surround themselves with people smarter and better than they are at what needs to be accomplished.
Having and maintaining the right people is key to success in business. Answer the following questions to determine if there is opportunity within your business for personal development and growth.
- Do you have the right people in the right positions?
- Do you have a business plan that will allow you to increase personnel or responsibilities?
- Do you have a training program to enhance the team’s skills?
- Do you, as a leader, need coaching to become comfortable with relinquishing control?
Putting the right systems in place improves customer experiences, boosts employee morale, and allows for growth. Before implementing a new system, take time to evaluate the current one. Should you adjust/update a good system to make it better? Or is it time to replace an outdated system? Seek input from the team and customers that are impacted by your systems.
Establish a council to review feedback and consider the pros and cons of improving versus replacing your current systems. Your goal is to make a positive impact on both employees and customers and ultimately generate growth. Before moving on, review the following questions about your current systems.
- Is your system of operation designed specifically for your business?
- Does your system allow for efficient flow with its users?
- Is your system up to date and aligned with your business goals?
Office culture begins with you, the leader – how do you set the tone? Office culture is impacted every day by external and internal factors. And a positive culture results in better business output. You control internal factors, so begin the process of getting everyone heading in the same direction by creating (or updating) your business mission statement.
Involve the team – have each department create their own mission statement in alignment with the company’s. The more people engage, the more they will be able to internalize and align with the company’s primary focus. Take a moment now and consider the following:
- Do you have a mission statement? If so, when was the last time it was updated?
- Is everyone aware of the mission statement and is it practiced at every level, every day?
#5: TARGET MARKET
Identifying your target market is critical to managing resources and allowing for a greater return on investment. A focused marketing effort should align with your mission statement, which should be considered during its creation. Who do you seek to serve?
How will you tell your market what you can do for them?
Make sure your resources align to achieve your desired successes by maintaining processes and retaining people that are developed for your target market. Based on the strengths of your company, consider your desired targeted marketing now by answering the below questions.
- What areas of marketing are not producing and should be removed?
- What areas of marketing could do better with the right systems and people involved?
- What changes need to occur based on those answers?
All together, these five practices help streamline your business, thus improving profits while increasing both internal and external satisfaction. Practice all five, and your bottom line and your happiness will both improve.