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Topics > Business Planning How To's > ID: 2144

Better Business What now?

Posted Date: Mar 19th, 2009 10:31 | Hits: 423

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  • pplcheryl63
  • CITRMS
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Okay so you've studied the ladder, Where are you on it?  Although many of us want to say we are high up there the truth is most of us are in one of the bottom three levels, Mastery, Niche or Leverage.  The next step is to take a critical look at your business to plan how to reach the next level.

The first thing you need to do is to find out where your business stands.  You need to look at your Key Perfomance Indicators.  These can vary for business to business Some examples of KPIs are:

Sales history, Appointments you've had responses to advertising etc.  Depending on your business you will decide what shows the activity in your business. 

Once you know where you stand it's time to figure out where you want to go, these are your future plans and goals.  What do you need to do to move your business to the next level.  If you look at your business and see you are still in the Niche Phase you may need to focus your immediate future plans on branding.  Do not concentrate on your product here.  Your product is irrelevant.  you should already know your product is you are in the Niche phase.  You need to work on branding yourself.  How many of us remember the old "beta" video players?  They died out a long time ago while VHS not only surviced but cornered the market.  In effect they were the same product.  VHS survived because they were better at cornering the loyalty of the consumer.  They set themselves apart.  How about Mac vs Windows.  (Yes I know Mac is making a comeback it is a better product in the long run but Windows caught on with the average consumer)  So it doesn't matter if you have the beeter product you have to gain the loyalty of the consumer.  You have to somehow set yourself apart.  Your future plans should address the aspect of setting you apart from your competition.

The thing you have to do is make your future plans address where you are now and where you want to be (The next rung)

But no matter where you are you need to remember the following formula BE + DO = HAVE

Who do you need to be?  Personal development is all important.  Educating yourself on the different aspects of your business.  That never stops.  Doctors lawyers and just about every career field there is has some form of continuing education.

What do you need to do to reach your goals?  What action is there that you can take that will move you closer to your goals.  Maybe you need to have more appointments, you need to expose more people attend trade shows etc.  It's the actual action items

Once you combine the two you will have your results.  Understand that you will not have a business overnight and you will have to work hard for it.  But if you build it right, you will have an asset that pays you with very little effort on your part. 

 

 

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