Can you believe it’s March already? Where did the first months of 2019 go? Now that we are heading into the last month of the first quarter of the new year, it’s time to review your first quarter business success.
You still have one month — March — to get back on track if you’re not where you want to be. You also still have time to celebrate successes and amp up your efforts so you can sail into the first quarter on a business upswing!
Review Your First Quarter Business Success
What can you do, right now, before the first week of March has passed to propel your business toward its first quarter goals? Here are a few things to consider and implement:
Your business goal is to turn a profit. Don’t underprice products and services. You can’t and never want to compete on price. It’s a losing game.
The terms of the deal are sometimes more important than price. Don’t accept any a you can’t ethically live with. Don’t accept a deal that devalues your business or crosses a line with your business mission and vision.
Plan a cushion into all contracts because many deals take longer and cost more to implement than you’ve planned for.
Persistence, perseverance and promotion = Keys to success.
Do you need to course correct? Knowing what went “wrong” will help you do that. Make certain you write down wins, losses, lessons learned and any other items that will help you move forward with purpose.
Are you ready to move your business forward? Are you on track to meet your projected first quarter goals? If you’re facing challenges, let us know and our business coaching service may be just what your business needs!
Entrepreneurs simply cannot do it all. We certainly try, but there are tasks we do that we love and there are business tasks that we do that we hate — and frankly that we are bad at. Outsourcing those tasks at which we don’t excel is the solution but how to effectively outsource is a question entrepreneurs struggle with and ultimately procrastinate.
Entrepreneurs will also procrastinate tasks at which they aren’t good or which they don’t like and that saps productivity and, frankly, our mental energy. Procrasination is a weight that pushes against us and weighs us down. It’s truly never out of sight, out of mind. Undone tasks are always there.
How To Effectively Outsource
We know we need to work on our core business competencies — that is what our business is focused on, right? We also know there are tasks that the business requires (bookkeeping, blogging, marketing, etc.) that aren’t in our wheelhouse, but we do them anyway — rather than outsourcing them.
Why is outsourcing such a frightening prospect?
What if we hire the “wrong” person
What if they don’t perform the task the way we would?
There are others, but these are the top that I’ve heard. If you take your time and vet the contractor or employee, you won’t have hired the “wrong” person. If you have, you need to let that person go and begin your search again. As long as the task gets done, and gets done correctly, does it matter if it’s performed the way you would have done it? Not really.
Your business runs on the skills you offer, the problems you fix for your clients and a need your skills or products fill. Successful entrepreneurs understand they can’t let the tasks they don’t enjoy or at which they don’t excel get in the way of running the business they love. They learned to outsource. Take a moment and consider what your hourly rate is. Now look at a task you procrasinate. If you did that task, how long would it take? What would it “cost” you in lost business time? How much would it cost you to hire someone to do that task? I’ll bet you find you will save money by outsourcing.
It is your core competency and expertise that makes your business valued by your clients, they don’t care what goes on in the background. You need to rely on the expertise of others to complete those tasks that allow you to interact more fully with your clients. Outsourcing will enhance productivity and your business’s bottom line.
The benefits you gain by outsourcing will be outweighed by the time you spend hiring the individual. You should be focusing on the business for which your clients pay you, right? If you need assistance in outsourcing your marketing, or if you need a business coach to help you through business challenges, reach out to us, we can help.
Have you ever asked yourself do you lead or do you manage? Did you even know there was a difference? Employees know the difference and they really feel it the most when the time comes for their annual reviews. During the annual review, your employee will find out — in that brief time — whether they’re doing a good job, an okay job or if they have a lot of room for improvement. It is a nerve wracking time for them but it is a time for you to shine as a leader — not a manager.
Leaders can spot talent. Leaders will work with an employee who shows potential to coach them to a higher level of engagement and ownership in their job. A leader coaches the employee with promise and offers them opportunities to keep them engaged and invested in their job. A manager, simply piles on the work with no direction or feed back and the employee must continually “prove” his or her worth to the manager.
Be a leader and rely on a review schedule throughout the year rather than the annual one hour review of the employee’s performance. Done the right way you can coach and lead an employee who shows potential to a higher level of success — and your business will benefit.
Do You Lead Or Do You Manage?
Here are steps to make you a leader not a manager.
Build mutual respect. If you have a daily relationship with your employees there is a greater level of trust and respect and this will make leading a more beneficial relationship.
Set the tone when you meet with him or her. If you’re starting a leading or coaching session, set the groundwork so the employee feels comfortable with a give and take. This is not your usual annual review where they need to “prove” to you they’re valuable and you are filling out a form based on little interaction with them beforehand.
Explore alternatives and ways for the employee to take greater ownership of his or her job. Your employee is “in the trenches” he or she may very well have a different aka better way of looking at potential changes to the workflow or environment in their department.
When is the last time you sat down with your employees and had a talk with them about their jobs, about ways they feel they could perform at higher levels and whether they have aspirations within the company? If you can’t remember the last time, chances are you are a manager. Commit today to become a leader within your company.
Have you been working on your side hustle, side gig or whatever you call it for a while now and are you wondering whether it’s time to make the leap and go full time with it? We have information and advice and 3 ways to make your sie hustle work if that is your dream.
Baby boomers are finding that a side hustle is helping them make ends meet once they have retired from full time employment. Many people find that their side hustle is a hobby they have long pursued, but are now looking to turn into a source of revenue.
3 Ways To Make Your Side Hustle Work
Know that the decision to get started is the hardest. It’s scary to “put yourself out there” and take a chance on YOU. I know it. I work with entrepreneurs all of the time who had to take that first step and make the leap by trusting in themselves and that they had a viable business idea. It may be scarier if you are relying on the side gig to bring in full time money, but baby steps.
Chart a path toward success. You may not know the most direct route toward success. You may not even truly know what success means to you. It could mean freedom or success could mean financial success. Only you know what success means to you. You don’t necessarily need to know the end game, but you do need to make forward movement on it in order to move your way down that path.
Write down the path you want to take. Write down what success means to you. Write down how much money you need or want to make. Write down specific steps you need to take to move forward. Writing it down is the first step in putting together a business plan — which you may need in the future.
Don’t measure your success against someone else’s. You are unique. Your idea is unique. Your path is unique.
Are you ready to take your side gig full time? Do you need assistance to bring that dream to fruition? Give us a call. We can help!
We’ve already almost completed the first month of 2019! How can that be? If you’re like me, you are in the midst of new projects, but have you taken the time to set up business resolutions for the new year? They don’t have to be big, sweeping changes, but they should be items you’re committed to achieving in the new year.
Before you look at business resolutions, take some time and make note of all of the successes you’ve achieved and those items you didn’t quite achieve. Look at items you want to continue on with and those you want to jettison.
Business Resolutions For The New Year
Resolve to keep learning. No matter where you are in your business, you can always learn more. What classes can you take? What books can you read to keep you up to date on the latest trends? What can you do next month to learn something new?
Resolve to keep your priorities straight. What means the most to you? Which aspects of your business run on auto pilot? Which of your clients are priorities? Trick question… they all are!? Set priorities for spending time with friends and family and with your work.
Resolve to better use technology. If you have shied away from upgrading and updating hardware and software in your office and are losing valuable time because of system outages or broken down equipment, resolve to rid yourself of that issue.
Resolve to stay in touch with clients. It is easy to let the days get away from you and before you know it, it’s been months and you haven’t reached out to your clients. Put them on your calendar and reach out regularly.
Resolve to give back. Volunteer in your community. Find an organization you love and offer your time and talents. This goes along with #2 and setting priorities.
What is your biggest business resolution this year?
Are there things you can do outside of working hours that can strenghen your skills at work? What professional steps do you take to hone your skills and to make you a more valued employee or a stronger and sharper entrepreneur? Have you ever wondered how outside activities can hone your professional skills? They can.
Not all job development or skills development happens in the confines of your office. In fact, entrepreneurs and employees who excel are those who are dedicated to both their lives at work and their outside activities. Many of the things you do outside the office can help you sustain or heighten your professional and personal growth.
How Outside Activities Hone Your Professional Skills
Join an association in your professional niche. Doing this puts you in contact with other professionals in your niche area, gives you contacts with people outside of your office — or yourself if you’re a solopreneur — and gives you insight into what others are doing to excel.
Volunteering. If you have a unique talent that you can use in a volunteer capacity this is another way your outside activity can hone your professional skills. Say, you’re a social media marketer, you could volunteer with an organization with a mission you connect with. They would benefit from your skills and you can make new connections and continue to hone your skills.
Read. There is nothing more important a solopreneur or entrepreneur can do is to read. Lifelong learning keeps you sharp and in touch with the world around you. When is the last time you sat down and read a book?
Learn new software. Is there a new software program that would make your life on the job easier? Invest in it and learn to use it. Even honing your skills in Microsoft or Google documents can enhance your skill base.
Become a mentor. Did you have someone who helped you when you were starting out? If so, return the favor and be a mentor to someone who wants to learn to do what you do. When you mentor, you re-teach yourself skills you may have neglected.
When is the last time you practiced professional and personal development?
