Business owners are becoming increasingly concerned about
what might happen to their business if this dreaded
recession actually settles in. By focusing on the business
fundamentals, you can actually THRIVE during such a crisis!
Here's how:
Focus on the Eight Essentials For Business Success. Now
you may say, "This is really old stuff, Henri - every MBA
tells me to work on these!" Bear with me, please...
Do a quick check-up on your business. How are you actually
doing in these Eight Essential Areas?
Essential Area 1: Operations - Have you optimized the way
your company delivers your product or service so that it's
the absolute best it can be? Do you know what the best is?
If not, you're going to continue to lose business to
companies who have this area nailed down!
Essential Area 2: Human Resources - Your People Do your
employees, vendors and other service providers know exactly
what they should be doing for you, and are you providing
these people with the critical resources they need to excel
in their job? Watch out - your competitors are empowering
their employees while you sleep!
Essential Area 3: Sales - Do you know what your sales
system is? Have you written it down? Have you transformed
your customers into cheerleaders for your company so
they'll enthusiastically spread the word about you? The
future of your business is riding on your ability to soar
in this Area. Learn to create a rock solid Sales foundation
you can build upon for years to come. Essential Area 4:
Finance and Accounting: Do you know what your net margin is
on each product/service you sell? Too many creative
entrepreneurs let finances and basic principles of business
management sit on the back burner, to their ultimate peril.
Hint: your accountant is not providing you this!
Essential Area 5: Future Product Development - Are you
thinking for the future? Are you spotting trends and making
plans to act on them? What will you be selling when your
present "hot product" has completed its sales cycle? You
can be sure that yourcompetitors are thinking ahead, and
you should too!
Essential Area 6: Your Leadership - as the CEO Have you
crafted the long-term vision of your company? Are all your
people on the same sheet of music with that vision? Do they
see you as an inspiring leader or as just another client or
boss? When you read about great "business leaders," this is
at the core of what they do. Do you even fully accept that
you are the LEADER of your small business?
Essential Area 7: Marketing - Do you know how you will fill
your sales pipeline next month? Next year? Better start
filling it now - your competition is already filling
theirs! Put a laser focus on your business growth through
targeted, potent marketing techniques. Understand the
basics of targeting, strategies, tactics and implementation
- they will give you what you need to create your own
powerful marketing plan.
Essential Area 8: Strategic Planning - How much money do
you want to make and how do you plan to get there? Do you
know what your 5 year and 10 year business strategies are?
Do you know how to get there? What about your legacy? All
successful companies have strategic plans. Many of your
competitors do - it's time for yours!
How does all this relate to the possible coming recession?
It's very simple! If you are strong in all eight of these
areas, then you will handle any downturn well. Chances
are, you have some work to do. If so, get busy!
----------------------------------------------------
Henri Schauffler, The CEO Coach, has dedicated the last 20
years to helping small businesses like yours to "Outmanage,
Outhire, Outsell and Outprofit All the Competition." For a
FREE business assessment and tune up to see exactly how you
are doing in all Eight Essential Areas for Business
Success, go to http://www.QuickBizQuiz.com .
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