Small Business Start Up – How To Work On Your Business

Written by Peter Tran

July 1, 2017

Working On your business involves versus tactical implemation. 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 gls 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, preving 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 gl setting. The graduates that set gls, either formally or informally, were more likely to be successful in their and al lives. Success was defined as a combination of compensation, career satisfaction, al and professional achievems, and al life satisfaction.

Planning the Work begins with gl 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 gls ing with your exit strategy. Then ask yourself what intermediate steps do I need to do now to be in a position to achieve the gl 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 gls.

Step Two: Work the Plan

Each planned gl should have a work plan for success; e.g. If one of your gls for the year is to grow sales by 20% the work plan will outline the activities necessary to achieve the gl.

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 gls. 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 developm.

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.

Cre 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 candi.

Take in some business training workshops for fresh perspectives on issues your tackling.

Your investm of time in this activity will pay you back in generous dividends; e.g. cost savings, increased and better customer prospects, more sane moms, and a shorter to success.

Bruce Hunter is the CEO of CORE Magazine in Denver Colorado. CORE is the leading online source for small business startup. Visit our free online resource cer now to get free access to information on small business finance.

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