Small business owners often end up wanting to (or wishing they could) quit their business.
There are many frustrations that come along with running and owning a business, but they don’t have to get on top of you to such an extent that you’d like to quit!
You have the opportunity to create your perfect business – one that integrates all aspects of your life goals, lifestyle goals and business goals. Here are 7 ways to start removing those frustrations and get the business you always dreamed of:
1. Develop a vision for your business
Why are you in your business? If you’re not sure how to answer this, chances are you don’t have a clear vision for your business. What’s a vision? In brief, it’s a picture of how you see your business in its ideal state.
There are many resources available on how to develop your business vision. A vision plays an essential part in the success of your business, and it’s vital if you want a business that turns you on instead of one you’d really like to quit.
2. Identify clear goals
“Vision without action is merely a dream. Action without vision is just passing time. Vision with action can change the world” – Joel Barker.
A vision alone will not provide the daily structure required to head towards it (your vision). It’s too far “out there”. In itself, it is not enough to move your business forward. This is where clear goals and objectives come into play.
Make sure you set defined goals that target the development and growth of your business – goals that will improve your business as well as providing some fun along the way.
It’s no surprise that business owners who are stressed, unhappy and unfulfilled don’t have any powerful or clear goals for their business or personal lives.
3. Make sure your goals relate to your vision
All too often business owners set goals without making sure they are firmly tied to their vision. If your goals don’t line up with your vision, or don’t move towards your vision … what use is that? Don’t set goals just because you know it’s an important thing to do …. set goals that will move you toward your vision.
4. Focus on your target market/ideal customer
Do you know who your ideal customer is? What criteria have you set to recognise and define them? Or do you invite anyone in the door … using the “warm body” theory.
Sometimes taking on a less than ideal client does not always pan out profitably or successfully. You may need to be prepared to walk away from business. This might not always be appropriate dependent on your type of business. For example, an internet based business probably has an entirely different set of rules to a service business. But this doesn’t denigrate the fact that you should define just who your ideal customer is – you need to know who to target, right?
5. Put systems in place
Systemising your business is crucial when it comes to getting your business under control. Systems will allow you to purposefully move towards your goals. Better still, they’ll allow you to create a business that is capable of running whether you’re working in it or not!
6. Measure your results
Without a measurement system it’s hard to know how your business is tracking. If you don’t have some way of knowing if you’re winning or losing (moving toward your vision or away from it) your motivation will start to disappear.
This is where KPIs (key performance indicators) and similar measurement tools are vital. Make sure your measuring is shown in a way everyone can understand. For example, a bunch of figures on a page might not do the job, whereas a simple graph will paint a picture everyone can see.
A measurement system is vital. You can’t celebrate the wins if you and your team don’t know about them. In the same manner you can’t change tack and impact any losses either.
7. Be in control
Do you have a business, or does your business have you? Do you spend long hours slaving away, working hard, making sacrifices in order for your business to succeed? Who’s the winner here? You? Your family? Your business? It’s simply not worth it. There is a better way.
If you’ve lost control of your business … time to get it back!