Working On your business involves strategic planning versus tactical implementation. That means reflecting on what’s happening outside your business and its effects on you, as opposed to running the day to day operation. The result is reaching your goals by evaluating your processes and developing your own skills. Working In your business involves such daily activities as prospecting, serving customers, administration, and the “feel-good” activity of making bank deposits.
These daily activities will consume all your time and energy and take control of your business if you let them, preventing you from seeing the big picture, anticipating change, and responding to opportunities.
Steps for Working On Your Business
Step One: Plan the Work Weekly
The Harvard Business School completed a study of their graduates to determine what factors contributed to post graduate success. The number one factor was goal setting. The graduates that set goals, either formally or informally, were more likely to be successful in their careers and personal lives. Success was defined as a combination of compensation, career satisfaction, personal and professional achievements, and personal life satisfaction.
Planning the Work begins with goal setting. Know where you want your business to be in a year, in 5 years, and what your exit strategy for the business will be in ten years. Sometimes it is easier to set these goals starting with your exit strategy. Then ask yourself what intermediate steps do I need to do now to be in a position to achieve the goal in the future. This process sets the course of your business from where it is now to its planned destination.
Planning the work requires some time away from the business to determine if you are ‘on-course,’ plan any course corrections, and come back with a work plan that serves your goals.
Step Two: Work the Plan
Each planned goal should have a work plan for success; e.g. If one of your goals for the year is to grow sales by 20% the work plan will outline the activities necessary to achieve the goal.
Step Three: Evaluate Progress on a monthly basis and Make Necessary Course Corrections
Develop reports that provide timely, accurate information related to the weekly work plans and previously set goals. Remember, activity precedes results. Tracking activity will help to interpret the results you are getting. Monitor customer feedback and integrate the information into employee training, product/service innovation, and course corrections. Monitor your direct and indirect competition. Allocate your resources to insure your company’s next stage of development.
Tips for Working On Your Business
Set aside a time (2-3 hours) each week to get away from interruptions; e.g. go to a favorite deli, park, take a walk (use a recorder), etc.
Create your agenda for your time as the week progresses. Add items as they come up.
Meet once a month with someone or a group to go over your ideas. Banker, CPA, lawyer, etc. are also candidates.
Take in some business training workshops for fresh perspectives on issues your tackling.
Your investment of time in this activity will pay you back in generous dividends; e.g. cost savings, increased and better customer prospects, more sane moments, and a shorter distance to success.
By: Bruce D Hunter
Posts Tagged ‘Personal Life’
Small Business Start Up – How To Work On Your Business
April 1st, 2010Why Business Etiquette Matters
March 17th, 2010
Today, most people pay little attention to social or business etiquette. While some elements of traditional etiquette may seem dates and pre-”high tech”, they are worth reviewing – and incorporating into your daily business life.
Telephone calls.
With the exception of “cold calls”, all calls received should be returned within no more than twenty-four hours. This applies to “internal” and “external” calls. Of course, calls to customers – current and potential – should be returned first.
Office Visits
When visiting someone’s office, whether a customer, boss or “internal” customer, take no more time than is absolutely necessary. Treat other’s time as if it were your own.
Bids
When you bid on a job, follow-up directly with the potential client or customer. When you are in receipt of a bid, follow-up with the vendor or consultant whether they win it or not. If the bid is delayed, communicate this fact to the vendor or consultant.
Resumes
When you post a job opening and you interview someone by telephone (screening) or face-to-face, follow-up the interview with either a call or e-mail. When you have selected a candidate, let those you interviewed who did not get the job know that you selected someone else.
Meetings
Schedule no more meetings than absolutely necessary. Make your meetings brief and to the point with an agenda and a time limit.
Conference Calls
Schedule conference calls when they are most convenient for all participants. If you have participants globally, schedule them at different times to share the inconvenience among all participants. Send out an agenda and time limit in advance. Make sure all participants are on time and remain for the entire call.
Customers
The customer is first in all things. Ahead of the boss. Ahead of subordinates. Ahead of suppliers. Even ahead of your family and personal life. They pay the bills. Do not ever inconvenience a customer.
Email
E-mail is both a blessing and a curse. Those who worked prior to e-mail remember regular mail drops and office couriers. Respond to all customer e-mails within no more than twenty-four hours. Respond to all other e-mail sent directly to you (excluding “spam” and mass group e-mailings) within forty-eight hours. Only address emails to those who absolutely need the information (response, request or whatever) within them.
Time
Respect the time of others. If you are going to be late, call them to let them know. If you must leave a meeting early, let the “owner” of the meeting know in advance. And if an appointment or meeting must be cancelled, let the participants know as far in advance as possible so they can rearrange their schedules.
Business etiquette may seem basic but increasingly, business people think of themselves and not others. Not their clients or customers. Not their employees. And not their vendors or suppliers. Business etiquette is often rewarded by others behaving in a similar manner. Take the first step by making an example through your actions and those of your team.
By: George F Franks III
