Growing your business means bringing in new clients while servicing the ones you’ve got. Coming up with new products and services and possibly branching out into new markets.
Do all this and the money will come.
But none of it will happen unless you do two things.
Plan and execute. Put another way, strategy first and then implementation. Not the other way round. All too often we see people getting consumed with tactics without referring back to the big picture outcomes they want.
Here’s one way to go about it.
Decide on the big rocks. The critical pieces you must have in place for marketing, selling and delivery.
Is your marketing system bringing in a regular supply of fresh, qualified leads? If not, what needs to change?
Do you convert a healthy percentage into clients? Anything less than about 70% is not good!
And do you have systems to keep your clients in the fold? That’s where the real profit is. (Remember, given advertising and acquisition costs, it takes 7 to 9 times more effort/cost to bring in a client than to keep selling to them.)
Remember, there will always be room for improvement.
But that will only happen if you seriously look at the whole system of your business. Which means breaking each component into its parts and looking for flaws and then fixing them.
The skill lies in figuring out which parts are critical.
Start with the end outcome and work backwards. Figure out each step in reverse order. i.e. What must have happened for this step to happen. Question your assumptions. Was this step necessary? How could it be improved? Could it be systemised?
This is what we call $10,000 an hour work. It’s working on your business not in it.
Implementing big ideas takes time, planning and dedication.
Realise things generally take longer than you think. We recommend not having any more than 3 big rocks per year especially the first time you do them.
You want to concentrate on what will move you forward, not dilute your efforts.
A word to the wise. The danger we see all too often is it’s so easy to get caught up in the day to day minutia. The urgent subsumes the important. Fighting fires, keeping the wheels turning while completely missing the big picture.
Want help figuring out your strategy for 2018 and then creating an implementation/action plan with a focus on growing your business? Call Rashid on 0414-913-334 to get the flow started.