by Lauren Brown
Learning and understanding your craft is just the beginning of owning and running a business. You know your industry, but do you know how to be profitable.
Below are tips to business owners and entrepreneurs:
Tip #1 - Knowledge
Unless your name is Google (R) stop acting like you know everything
Tip #2 - System
It is important to have systems in place. Systems keep you organized and provide a way to reduce your labor so you are working on your business more than in your business. Take the time to determine and try out the best systems for your business. Many companies offer a free trial period or basic level of their services. Some key systems are:
Lead generation - tracking and managing leads; helps to identify people with a program
Appointment setting - speak to people with a problem
Lead conversion system - convert a lead or prospect a buyer
Management - employee selection, managing employees, growing your business
Cybersecurity - keep your business records, etc secure and protected
Key metrics - to measure your key activities, determine your profit centers, help scale your business
Tip #3 - Automation
Automation is another key element to help you attain and sustain your profitable business. It goes hand in hand with systems. Through automation, you can focus on other aspects of your business, while reducing your labor and simplifying the routine tasks. Just like with systems, take the time to determine and try out the best automation options for your business. Automation companies do offer a free trial period or basic level of their service.
Tip #4 - Collaboration
Collaboration has become more important in our businesses. Examples are joint ventures, networking, and contract teaming agreements. Business owners are reaching out more to others in their field to share knowledge, branding, technology and to connect in a way that leverages competency in their business. Collaboration helps to serve business clients more easily and swiftly.
Tip #5 - Goal Alignment
Are your goals for your business in alignment with what you do in your business? For instance, did you go into business because you love doing the work (custom design yourself) and that is what gives you satisfaction? Or, you would rather organize and orchestrate the work to be done, but someone else actually carries out the tasks? Think carefully and make sure that what you are doing in your business aligns with your goals.
Lauren Brown is a freelance writer for Writing by Design Media. She can be reached at firstname.lastname@example.org.