There are 10 strategic imperatives every business needs to understand if it’s to be successful, according to William Buist, CEO of Abelard Collaborative Consultancy and author of ‘At your Fingertips’ and ‘The Little Book of Mentoring’. These 10 are a solid outline of how best to approach your career:
- Be Clear: In all of your marketing material, emails, and social media, clarity is the foundation of selling. Avoid jargon, speak in simple language and be concise and relevant – always speak in terms of the prospect's needs.
- Care on sharing: To people who find your message relevant, you can be a godsend. They need you, and they want what you're offering. To everyone else, you're spam. Know your market and where to find them.
- Sell to buyers: The best salesmen qualify their prospects and only sell to people who are ready to buy. This is more specific than just finding the right market. You're looking for people within that market who need precisely what you're offering.
- Realistic promises: Make promises that you can actually deliver on more often than not, and...
- Deliver: A company that delivers on its promises will thrive without having to spend millions on advertising. Playing it straight with customers' expectations isn't just ethical, it's profitable.
- Document your methods of operation: This will allow you to find out what you're doing right and wrong, so that you can make changes where appropriate. However, if you're not prepared to make necessary changes, don't bother gathering data in the first place.
- Understand the numbers and grow: Growing as a small business doesn't mean opening a franchise you can't afford. Growing means improving profitability. When you think of growth, think strictly in terms of things like profit margins and customer satisfaction.
- Keep cash flowing: If your business is costing you more than it earns, or if it's just breaking even, then it's not a business, it's a hobby. Be realistic about how much you need to stay in the black, and how you're going to keep that money coming in.
- Bridge your gaps: Where are your shortcomings in terms of skill level, experience, customer service, marketing, etc.? Think about what you could be doing better and how to improve on it. That could mean studying more and if it's in the budget, hiring someone who can bridge that gap for you while you get up to speed.
- Plan your getaway: Building a business takes a lot of work, it can be exhilarating and exhausting. One of your goals to write into the business plan is time to yourself. Whether your aim is a month long vacation or selling on the business, you need your company to be able to run without you.
Whenever you feel uncertain about a business decision, check back this list and make sure that your ideas are financially and strategically sound.
See: http://Abelard-uk.com and http://Williambuist.com