As we come out of lockdown and enter a new phase, what will that look like for you?
Will it be more of the same or have you really thought about what you could be doing? How else you could deliver? How you’ll utilise and manage your resources – be it staff, office space (do we really need as much)?
How about your clients. What are they looking for from you? Has it changed? Can you address new markets or offshoots from your current ones?
Most of our business owner clients are really, really busy. While some have found it really quiet, with a significant drop in business, they’re taking the time to re-evaluate their business models.
Talking to their clients. Finding out what their market wants.
Then putting in place business strategies focusing on the next 2 to 3 years to maximise their growth under what’s going to be a difficult economic environment.
So if you haven’t yet made the time to strategize, I strongly recommend you do so. Especially if you’re receiving government grants or stimulus like JobKeeper which is keeping you afloat. That stimulus will end, so it’s up to you to make sure you’re viable going forward.
Here are some areas we strongly recommend you focus on:
Have a clear end goal. What is it you want from your business? Is it a cash cow which enables your lifestyle? Is it an entity you want to be able to sell? Have a timeframe for when you want to achieve this by.
This may well be 10 years away.
But none of knows what’ll happen in 2 to 3 years, let alone 10. So think about what you’ll want to have achieved in say 2 years and set that as an intermediate goal.
Now work backwards.
What major decisions must be implemented?
These are some examples to get you started:
- What products or services will you be delivering?
- Who will be your ideal clients?
- Do you have a clear, concise, compelling value proposition?
- What’s your overall marketing strategy?
- Do you have a formal sales process? (This is especially important for “technical” organisations who are great at delivery, but don’t focus on bringing in business)
- Do you have the right people in the right roles to ensure you can both sell and deliver?
All of this takes deep thinking. Then you need to decide priorities and who will do what. And have active scorecards to keep everyone accountable.
I’ll be blunt. This is a lot easier said than done.
Which is why clients engage us to help them sort through their options, prioritize them using our Decision Matrix and then put in place implementation steps.
One of our mastermind members, Alexey Prokopenko credits our Decision Matrix process with freeing up his time as his teams now have a mechanism for determining priorities without constantly referring back to him. Productivity has significantly improved and his organisation has almost doubled in a few months.
If you’re feeling overwhelmed, confused or just want a quick sounding board looking at your priorities, we’re offering 30 minute calls where we’ll rapidly triage your list, so you’ll have a clear path as to what to focus on.
There’s no obligation to use us further.
Call Rashid on 0414 913 334 or reply to this email and we’ll set up a time.