Which is it, the economy or you that are hurting your business?
With the uncertainty about the economy, many are wondering what is wrong with their business. In many cases, the answer lies in your ability to come to terms with “how” you manage your business, not is “what” is happening to your business.
Typically, a business owner realizes that their business is in trouble. However, they fail to take corrective action. You should want more and care enough about your business that you will not allow, nor will you settle for mediocrity. I am going to reveal four common mindsets that will hurt your business if you fail to implement them properly.
Failure to build lasting relationships with your customers. Satisfied customers, people who have bought from you and who are happy with that experience, need to be cultivated. They need to know you appreciated their business, that you understand what is of interest to them, and that their powerful referrals are appreciated. People forget, don’t assume they don’t. Keep in touch. Make ‘special’ offers, and always ask for referrals.
Failure to prune your operation. Assuming everything is okay is a mistake! You will wake up some morning to huge problems. Take inventory, set standards, design standard operation procedures, and monitor performance. Don’t wait until it is too late. If something or someone isn’t meeting the standards and required performance levels, take action. By pruning, you get rid of the deadwood and help the good wood grow. It is a necessary action for developing a winning organization.
The dreaded “I-Do-It-All” Syndrome. Afraid to delegate? Scared stiff to give your employees responsibilities? Do you really think you’re the only one who can get it done correctly? It is time to check yourself in for a psyche test!
It’s not uncommon for business owners to ‘waste’ numerous hours doing the work that they hired employees to do for them. Ever wonder why? Usually it is because you failed because of the following:
· Failed to have a workable system in place.
· Failed to properly train the employee to the system.
· Failed to properly communicate with the employee.
You see. It is not always the employee. What you have is an organization problem of major proportions … YOU!
You need to learn the art of “Leverage and Linkage,” that is the effective process of written systems, standard operating procedures, and employee training.
Failure to sharpen your own saw! Knowing you should be doing better, but failing to get the help and guidance to correct it, will never make it get better. You’ll still be dealing with all the stress, chaos, and frustrations of your business.
Improving yourself and your business is a constant and never-ending process. The sooner you come to terms with this fact of reality, the sooner you can start solving a lot of your major business headaches.
Perfection is something that is unattainable. It is the pursuit of perfection that produces winning advantages.