Are you an SME Business Owner or possibly looking to start your own business?
Feeling burnt out by all that has been happening of late? Christmas then the Covid virus, then Shutdown? Wage subsidies 100% or 80% or perhaps 50%?
Then school holidays and now the election? What next?
Wow what a year so far.
Are you perhaps feeling so burnt out that growing further seems impossible?
If so, you’re not alone.
After speaking to hundreds of business owners through our national Prime Strategies Group (PSG), team, we have found a number of trends that are in fact damaging people’s businesses and destroying much of the opportunity for growth.
1. No clear direction
Without having some clear succinct direction, it is very easy to waste away your time in the business being “busy” doing very little. Putting out fires does not necessarily product sustainability or growth for your business.
We must look forwards with a clear plan for our survival. The road should be clear, not cluttered with insignificant rubbish. Concentrate on the things that actually matter: Your team and their families, Sales, Productivity, Reduced overheads, Clarity in marketing and a sound vision and structure around Client retention and satisfaction
2. Distraction and lack of Focus
Most business owners are more distracted than they even recognise.
Many are worried about the future; What about our health and our families? What about my business, will it survive? We are all trying so hard to do more when perhaps we should try and do less.
Focus on less: Focus on the priorities in the business, no more distraction. Ask yourself and your team: What are our priorities? What do we need to do better right now? Make a list in order of Priority. Start with number one. Get it done now work on number Two, then Number Three.
If you want to succeed and grow your business be tough on yourself, stay focused on what matters to you and the team around you.
3. Lack of Structure and Systems within the Business
This is very common in SME business. After all, we are all good at what we do, maybe that is being an Electrician or perhaps you are in the Construction business. That in no way suggests a strength in the “running” of the business. Structure and process within the business are key to your survival in today’s ever-changing world.
- Do you do your invoicing on time?
- Do you have a budget and cash flow for your business?
- Do you have strong Business plan?
- Do you produce quality Quotes and measure the success rate?
- Do you have KPI’s for your business and your team?
- Do you measure productivity?
- Do you celebrate success?
Do not allow yourself to be distracted by the “Noise”: The phone calls, the e-mails and the door knocking. Create some silent time in your business for getting the important stuff done.
If this sounds anything like you, perhaps you should do something about it. A PSG Health Check on your business is free and a commitment to change may well change your business and your life.
Give Prime a call, you supply the coffee.
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