To Do’s for 2014
It’s 2014, some of us are brimming with new resolutions and goals, while some have absolutely none. Whether you do or not, these are 5 things that you can do this year to help yyour business achieve its Vision and make profits.
Determine what is core to your business. What in your business is core to your product / service delivery? What do you need to be in absolute control of to live up to your customer’s needs? Maybe it is your brand, your customer service, your marketing or other process or product that generates the most revenue for your business. Make 2014 about this thing. Put the maximum effort into this thing, however that translates. It may mean improving, making it more efficient or just maximizing every dollar spent. This way you can do more of what makes money for you and well… generate more profits for your company.
Don’t sweat the small stuff – So you need to be in control of the other bits of business that are not essential to your business? How much of your time needs to be spent on them? If non core things are consuming your time, then it may be time to outsource to someone who knows what they are doing. Before you cry about money, think about how much your time is worth and if doing these tasks are worth your hourly rate. Cheapest labour is found in the retiree and student communities. Seek and you shall find.
Find a mentor – Students and young professionals are encouraged to find a mentor so why don’t you. This does not have to be a formal relationship, it can be someone or several persons that you chat with to gain insights, opinions and information. Identify someone who you admire or who is doing or has done a successful business that you can easily access and chat with them. Don’t ask them 20 questions the first time you meet – that would scare them off. Work on building a relationship and listen as they speak.
Learn the word discretionary – We all know that reducing or controlling expenses is key to profitability, yet bills keep popping up. This brings us back to the question of what is core. If an expense is not related to what is core to your business, then it is discretionary. If the answer to the question “Will spending money on the good or service contribute to what is core to my business?” is “NO” then the item is discretionary. This means that you are spending at your discretion, not for the sake of the business.
Focus on your customer – These are the people who use your goods and services and these are the people who you want to keep coming back for more and more of it. The best practitioners of customer service focus on what the customer values and they do more of it. While they spend time fixing the ills as well, most of their time doing the things that they do best.
What do you think of these tips? try them and tell me how they work. If you have any questions about how to do any of these or what steps need to be taken to put them in effect, then drop me a line. All the success in 2014.
[Tweet “To Do’s for 2014 via @einkglobal for @BusinessTips”]
Share This Article:
About Maxine Attong
Maxine Attong is passionate about writing, facilitation and coaching. Her personal Vision is to "enhance the lives of the people and organizations that she comes into contact with". This Vision is supported by her personal beliefs that all humans are innately intelligent and creative with a desire to do better. Maxine is a graduate of…