YOU MUST KNOW HOW TO RUN YOUR BUSINESS RIGHT
If your business is to be a success and YOU are to become one of the ‘10% CLUB’, YOU must KNOW how to run your business RIGHT.
It constantly amazes me that many small and medium sized businesses have such a poor knowledge of how to RUN their businesses RIGHT and such businesses ALWAYS perform POORLY.
Often a poor performance can be converted into a massive SUCCESS by simply UNDERSTANDING how to run a business MUCH BETTER.
It is often as simple as that!
Each Business Can Be Divided Into 7 Parts
Each small and medium sized business can be divided into the following SEVEN GENERAL PARTS:-
- MARKETING, BRANDING & SELLING
- CUSTOMER SERVICE
- BUSINESS RUNNING & BACK OFFICE
Every business has ALL of the above, unless YOU have NO EMPLOYEES.
Every Part Of Your Business Has Equal Importance
Every PART is as important as the other PARTS within the business. If YOU are to OPTIMIZE your BUSINESS SUCCESS and your BUSINESS PROFIT every PART must be RUN to its BEST.
If ONE PART is run LESS WELL, then this will affect the WHOLE BUSINESS.
You Must Know How To Run Each Part To Optimize Your Business
If YOU want your business to run to its OPTIMUM, YOU must UNDERSTAND how to RUN EACH PART OF YOUR BUSINESS.
Let me ask YOU these 22 questions:-
- Do you REALLY understand your target customers and what they REALLY want to buy from you and what they want to pay YOU?
- Do your REALLY understand the products that your target customers need and are your products RIGHT for your customers?
- Are the sales of your products increasing, year on year, and do you REALLY understand how to keep your sales growing?
- Do you REALLY have REAL control of the money in your business?
- Do you REALLY know how to control the margin in your business and understand how to keep it optimized?
- Do you REALLY have absolute control of your costs and know how to keep these minimized?
- Do you REALLY understand how to control your cash-flow and keep your business cash rich?
- Do REALLY understand how to effectively reach your target customers with your marketing?
- Is your marketing REALLY effective and are you REALLY reaching your target customers with it and is it working?
- Are you REALLY getting a real return on your marketing expenditure and REALLY seeing real growth in your sales as a direct result of your marketing?
- Are you REALLY successfully building a STRONG brand that is recognized by your target customers?
- Do you REALLY understand your COMPETITORS and what they are doing & do you REALLY know how to compete within them in your trading market REALLY EFFECTIVELY?
- Is your customer service REALLY superb?
- Is your customer experience REALLY superb?
- Are your customers REALLY happy and do they return to buy more from you, time and time again?
- Do you REALLY have an army of loyal customers and do these customers spread ‘word of mouth’ about your business?
- Is your back office running REALLY effective?
- Do you REALLY have fantastic systems in place to control all parts of your business?
- Are you REALLY using digital technology to the full & optimizing its effects?
- Do you REALLY know how to employ the best employees for your business?
- Do you REALLY know how to train your employees really well and do you REALLY know how to manage them right?
- Are your employees REALLY a real asset to your business & are they REALLY making a real contribution to your business as a whole?
I could have asked YOU many more questions, but these 22 are arguably the most important questions to ask anyone running a business.
You Must Answer These Questions Honestly
Try answering these questions REALLY honestly. If YOU can honestly answer a BIG ‘YES’ to each one, then YOU KNOW HOW TO RUN YOUR BUSINESS RIGHT.
But if one or more questions get a ‘NO’, then YOU must address the aspect raised in that question and turn it into a BIG ‘YES’
It is important that every PART of your business must RUN RIGHT.
You Need Smart Business Thinking
YOU need SMART BUSINESS THINKING about the RUNNING of your business, if YOU are to be one of the ‘10% CLUB’
SMART BUSINESS THINKING MUST COME INTO EVERYTHING THAT YOU DO IN YOUR BUSINESS
HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS
If you wish to discuss this with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment below.