Take these steps to kick mediocrity in the teeth and turn your business into an empire. March 7, 2019 6 min read Opinions expressed by Entrepreneur co
Take these steps to kick mediocrity in the teeth and turn your business into an empire.
March 7, 2019 6 min read
Opinions expressed by Entrepreneur contributors are their own.
This year, your business is going to be bigger and better than ever. How do I know? Because you’re about to read my most powerful — and brutally honest — tips for how to level up your business.
Trim the fat
You built your business built around a specific service or product, and when you focus on that, you hopefully get the results you’re looking for. But sometimes, it’s hard to stay focused with so many new ideas to try out.
Yes, new ideas are great. But not all of them. Especially that one.
Don’t roll your eyes or pretend you don’t know what I’m talking about. Deep down, you know which idea is keeping you from leveling up. You thought the idea was pure genius, so you keep fidgeting with it during your “free time.” Yet, no matter how much effort you put into it, it’s gone nowhere. Why? Because every idea can’t be a success.
Scan your services or products and hunt down the pet project you insist on feeding. If you’re lucky, your pet project just gets overlooked by customers. But, truthfully, even in cases like that, your higher-performing products or services aren’t getting the attention they need.
If you’re unsure what fat you’re holding onto in your business, go by the numbers. Which part of your business has the lowest ROI? Cut it out, and focus your entrepreneurial energies on driving more traffic to your best offers or crafting even better offers to outperform them.
And your underperforming darling may not be a product or service. It may be a client. Sometimes, someone demands so much of your time and attention that taking their money is costing you money. Do your bottom line a favor and let those clients go.
Set goals that scare you
If you aren’t scared, it means you’re in your comfort zone. It’s impossible to grow in your comfort zone, so now’s the time to go charging out of it. Figure out your goals and look at what you’re doing to increase your profit. No matter what, 2019 is the time to make your goals 10 times bigger. Because big thinking leads to big results.
In business, you either continue to evolve or you slowly die — no third option.
Even when your business is able to run itself, never settle for business as usual. As an entrepreneur, always look to build your business in creative ways that offer real benefit to those you serve. At least once a month, take a no-holds-barred look at your business. Is it where you expected it to be at this point? If not, what slowed you down, and how are you going to ramp it up in the coming weeks to catch up to your goal?
Get help where you need it
When you were running a startup from your garage or bedroom, you had to do everything on your own. But you’re beyond that — or you will be soon. You’re an entrepreneur, so buy yourself speed by bringing on talented people to do the things you’re not passionate about.
Struggling to send out invoices, maintain records of cash flow, and ensure employees get paid is a time drain and brain drain. Take the power back by hiring someone to handle your finances. This will free you to do the work only you can do that will level your business up.
Not ready to bring on a new employee? Talk with entrepreneurs whose business are where you want yours to be in a year. Ask for recommendations of software, hardware, or apps that make their lives and businesses flourish. Then use these technologies to their fullest potential.
Always look for room to grow
At some point, the entrepreneurial fight will wear you down. Suddenly, punching in at an 8 to 5 won’t sound so bad. The ideas that once empowered you to go full-throttle for 18 hours a day will become routine and boring. You’ll go through the motions of being a business owner without excitement or passion. If this happens, wake up! You’re not just a CEO. You’re an entrepreneur, and your business needs you.
You’ve heard it a million times, but here it is again: growth potential exists everywhere. It’s in your product offerings. It’s in customer service. And it’s especially in your marketing.
With the array of analytic tools now at your disposal, you can constantly evaluate and tweak an aspect of your business. Pick one thing that could make your business stand out and become obsessive and relentless about growing it, optimizing, and streamlining it.
Stay ahead of the curve by updating your messaging — not to change what you’re saying, but how you’re saying it. Keep your finger on the pulse of your audience. What do they want now that they didn’t even know about before? What don’t they care about anymore that used to be a top concern?
Finally, your business will grow best if you give yourself time to think. The most successful entrepreneurs know it, but it’s rarely talked about. Remember — your brain started this venture, and giving your brain time to do its thing will keep the venture alive and thriving.
So carve out time every week to put thought into your business. Consider the goals and problems you’re facing and list possible solutions. Do this in a quiet place, on your own. Once you’ve spent time thinking alone and have some ideas on paper, seek others’ opinions. Make sure your idea has traction and then work to implement it. Some people like to meditate, but for me, the best place to recharge my brain and get new ideas is the gym. Set yourself a major health and fitness goal and you’ll be pleasantly surprised how much of that translates to your business too.
These little steps can seem huge, but that’s no reason to be afraid. Remember: You took an idea and turned it into a business, something people fail at daily. So kick mediocrity in the teeth and turn your business into an empire. In a few years, you’ll tell everyone that 2019 wasn’t just another year. It was the year you stopped all the business-as-usual nonsense and took the steps you had to take to level up your business.
This article is from Entrepreneur.com