At the beginning of every year, I lead a workshop for business owners, guiding them through a process to create an Annual Business Plan. Now that we’re a few days into 2018, I wanted to share with you seven mistakes that business owners commonly make in planning, and what you can do to avoid them.
The number one reason why most small businesses do not grow is because the owner does not take the time to create an annual business plan for growth! I hope you will be different!
This seems like a “no-brainer” but most small business owners do not do this. But why? My experience working in and with small businesses for over 25 years has shown me 3 basic reasons.
Over the past couple of months I’ve written a few times about branding. I keep coming back to it because of what I see in myself and in my business community. Branding is central to everything we do! I’ve said it before, but let me say it again:
Today I want to give you 5 critical things to keep in mind around this subject.
As business owners, there are at least 3 roles of leadership that you must embrace in order to grow your business. These are essential to the sustaining and scaling of any business.
Frequently when I speak with owners of small businesses and ask what differentiates them I hear “Our service” or “The quality of our work.” I appreciate what they are saying but here’s the problem with that – everybody says the same thing!
Recently I’ve spoken to several business owners who are literally prisoners to their businesses. Actually I see this on a regular basis but it seems like lately I’ve seen it more. The worst part is that THEY DON’T SEE IT! Let me encourage you to be honest with yourself today. It’s OK to admit that things are not perfect in your life and your business. I have to admit that to myself all the time, and I’m a business coach!
A Super Bowl game can be an awesome experience for someone like me! Not because my team wins but because of the quality of play and the closeness of the matchup. What makes it even better is when we get to see some outstanding commercials!
Super Bowl commercials have become almost as entertaining as the game itself (some might say more so!) Recent years have been some of the best. I found myself going to YouTube and watching the commercials even before game day! Then I was watching them again after the game. Very entertaining!
But why do companies put so much into these commercials and why do they spend so much money on them? Do you think their sales increase after the Super Bowl? Do you think they get a good R.O.I. from them in terms of sales revenue?
I have read some reports in the past about companies getting an uptick in sales after the Super Bowl, but I have a hunch this is not about direct sales R.O.I. at all. It’s purely about branding! And I might add, it’s a powerful medium & concept for that purpose! But what about the small business?
When you meet someone new at a networking or community event, and they ask you what you do, what do you say? Typically I hear “I’m a CPA” or “I’m a financial planner” or “I sell flowers” or “I’m in insurance.” Get the picture? That’s about the most uninviting, non-engaging, boring way for you to position yourself! Isn’t there a better way?
I’m a regular speaker at many of the outstanding Rotary groups here in the Houston area. I love Rotary because the men and women who make up this organization are leaders. So I’m speaking today on the topic of leadership.
As a business coach I work with executives and business owners to help them grow in their leadership. I help them find their role in the leadership of their business. But what is that role? It’s easy to simply say “leadership.” But what should a business owner be doing with his or her leadership? I want to give you 5 behaviors every business owner must do to be the leader their business needs.
Marketing is essential for your business to grow. Every business owner knows this. Yet marketing is often mysterious, unpredictable, frustrating, and expensive. When I start working with a new client I typically see one of two things: Either they have almost stopped marketing because they are frustrated with it, or they are spending a lot of money but are unsure if it is worth it.