BUSINESS SUCCESS CHECKLIST
What You Must Have To Succeed In Business
BIG TRUE FACT
Only 40% of small businesses are profitable, 30% break even and 30% are about to go under. These are tough numbers for sure. There are definite steps you can take to insure that your business gets into and stays into the profitable 40%.
Here are five things you must have to grow your business and make more money and stay profitable.
1. A Compelling VISION Of Where You Want To Take Your Business. You must have a destination in mind, where you want your business to be in the near future, perhaps a year or two down the road. You must be sparklingly clear as to WHY you wish to pursue this particular VISION. What will getting there do for you professionally and personally? Armed with this clarity you must then share your VISION with all who are directly connected to your business in such a way as to inspire them to do all that they can to help you get there.
2. Clear INTENTIONS: SMART Goals And PLANS – Specific, Measurable, Attainable, Relevant, Timebound Goals with PLANS to achieve each and every one of them within the time line you set must be written down. By writing all this down you have a 60% better chance of victory than if you just think about what you want. Written SMART Goals and PLANS rock.
3. Well Defined KEY RESULT AREAS. Your key result areas are those things that you absolutely, positively must do to fulfill your responsibilities and achieve your business goals. There are seldom more than five to seven key result areas in any job or in any business. Your task is to determine what the key result areas are for your work, and then to develop a plan to complete them and to also continually improve in each area. You begin by asking yourself this question: What is my purpose here?
4. MEASUREMENT And At-A-Glance Knowledge Of Results. You must know where you are at any moment in time. Where do you stand with income, expenses, and profits? What are the facts? When you know where you stand, you can confidently make plans to improve. When you do not have At-A-Glance numbers, any planning you do is, at best, based on guess work. Guessing isn’t good enough. You need accurate factual performance data.
5. PROBLEM SOLVING AND DECISION MAKING SUPPORT – Plus ACCOUNTABILITY From Peers Who Understand Because They’ve Been There – And Are Willing To Share In A Spirit Of Harmony. You must have helpful input because it’s too hard to figure out how to do everything all by yourself. You don’t know enough. No one does. If you do not now have a group of helpful and supportive business owner peers that you regularly meet with to help you make difficult decisions and brainstorm on problem solving, either find one and join it, or start inviting business owner peers to help you start one of your own. Test the waters. Hold a couple of get together meetings and see what develops. Do this immediately.
HOW WELL SET UP ARE YOU NOW?
You’ve read through the list of the essential business success things you must have to operate a sustainable and profitable business enterprise, so…what do you have already? And what will you do to get all the rest of them?
Well-armed with everything it takes to succeed in business makes for a happy and relaxed business owner. I sincerely hope that describes you.