One of the key differentiators between the exceptional business owners and the average business owner is the ability to navigate difficult conversations successfully. As a business and executive coach I see this frequently.
Whether it is a conversation with a customer, a vendor, a partner, or an employee, from time to time we all find ourselves in the middle of a difficult conversation. This becomes even more acute when we have family members working in our businesses. We must know how to have a difficult conversation when the time arises.
Are you enjoying the freedom you deserve as a business owner? Are you still having fun? Are you making the money you had hoped to make when you started your business, or are you working too much for too little return?
If you are not experiencing the freedom, fun, or fortune that you hoped for, you may be experiencing the business owner blues!
Your annual business growth plan is critical to the consistent, healthy growth of your business. I hope you will overcome the barriers and go into the new year with a solid plan for growth.
I have already identified the 3 Parts of an Annual Business Growth Plan. They are: Your Marketing Plan (with particular focus on your Marketing Calendar), Your Budget (or Financial Plan), and Your Organizational Improvement Plan. Here I want to look more closely at Your Organizational Improvement Plan.
I want to share with you today about how to create a turn key business, and specifically, I want to talk about the 5 Components of a Turn Key Business.
Great business leaders build great businesses that can run without them. That’s what I encourage all the business owners I work with to work toward. To create a business that can function and perform consistently and predictably, without their constant presence and their constant attention.
At the heart of a turn-key business is the operations manual. It is the authoritative source for defining how things are done in your company. This tool provides your employees with the guidance they need to operate your business with confidence and independence. It is the single-point reference for everything your employees need to know. Thus it should be the first thing that new employees are trained on. It should also be the source for ongoing reminders and training within your organization.
Every small business needs a written operations manual. It is absolutely essential. It does not have to be large and comprehensive, it just needs to be useful. Here are 5 reasons why your business needs this.
The number one reason most businesses do not grow is because they do not have a plan! Tweet This
It is critical for every business owner to plan annually for consistent, healthy growth! There are several reasons why owners do not plan but the fact remains you must do it to grow your business! The question is “How?”
In this post I want to give you a simple outline to follow as you create your business plan for the coming year.
There are 3 levels of work in your business: a Leadership role, a Manager role, and a Technician role. The Leader’s job is to clarify the vision, set the direction, and build the systems. The Manager’s job is to maintain, refine, and measure the systems. The Technician’s job is to do the specific work of the business – e.g. work the systems. How do your organize your small business to achieve maximum results?
Now, I understand that most small business owners wear all three hats! However, to be strategic and grow your business you MUST learn to spend more time on Leadership and less time on the Technical work of the business. Where most of us struggle is that we do not spend enough time “leading” because most of our time is consumed with “doing.”