Guest Article
There’s no doubt that starting and running a business comes with a long to-do list. Maintaining your normal activities will keep you busy beyond the 8-hour day in addition to the administrative activities that are essential to running your operations. This is especially onerous if you are the only one and wearing all the hats.
But before you get overwhelmed, know that there are smart tactics and strategies that you can use to your advantage. Planning and leveraging strategies for what you anticipate will help your business run more smoothly and efficiently. There will be uncertainties and unplanned events along the way, but with systems in place, you will find it less burdensome to deal with these unusual situations. This will also free up your time to focus on business development which is essential for your business’ survival, profitability and long-term growth.
Here are 5 pointed secrets you can use to grow your business smarter and faster whether you’re a sole proprietor or the one leading the pack:
Create systems so you business can run while you’re away. This will take some ground work but it will be well worth it to have a structure in place. What happens when you receive a check? What do you do when it has been 60 days and a client hasn’t paid you yet? What happens when you receive an invoice from a vendor and it needs to be paid? Determine what the key processes are in your business and document how these processes should work. For routine transactions in your business, figuring out what to do should be as simple as consulting the step-by-step written documentation of the process. Once this is in place, you can have employees or even an intern help with carrying out the behind the scenes aspect of your business while you focus on other initiatives or take a vacation!
Train your employees well. Once you begin hiring employees, make sure their roles are properly defined and they are properly trained. Take the time to get them acquainted with your business and its objectives and goals. Show them how to do their job to your satisfaction; this will be more efficient than you having to make revisions after an initial attempt. If it is possible and your budget will allow, have segregation of duties to enable your employees to become more efficient in their areas of responsibility over time. You can also alleviate the level of teaching you do if you hire individuals who are experienced in their roles and have the necessary skills.
Partner with other businesses. There’s no reason to do everything alone. Look for opportunities to partner with other businesses in ways that are mutually beneficial. You will both save time and money and will be more efficient. Talk to your clients to find out what they need help with. If it is something that is beyond your area of expertise and you know someone who can deliver, make the introduction. Similarly, develop a relationship with a network of businesses that do the same for you. This works well with businesses in different industries since they are not your direct competitors.
Leverage established networks. If your business is new and still small, look for ways to get your name out there. Consider advertising in established email marketing newsletters or on blogs and websites that have a lot of traffic. If you have your own blog, consider writing for other blogs with a larger number of readers. Another business may have a short-term project that you may be able to use your skills to assist with so consider such opportunities as they will also give you access to a wider audience.
Find mentors who have been there and done it. There are business principles that are tried and true. So no matter what industry you’re in, there are basic things that could help your business if you know about them and apply them correctly. Develop a relationship with a few mentors who are willing to share their insight with you based on their experiences. People love to give back and tell their stories. Listen attentively, ask questions and share your goals so they can help point you in the right direction.
Have you used similar tactics to grow your business before? Do you have other tactics that you’ve used? What results have you seen with your strategies and which ones are the most effective?
Dasanj Aberdeen is an entrepreneurial spirit who embodies the combination of left-brain logic and right-brain imagination as a businesswoman and artist. She founded TheAfter5Edge.com as a platform for encouraging others to optimize their potential by discovering and leveraging their strengths to obtain their competitive edge in business and life. She is a graduate of the Wharton School of the University of Pennsylvania. Follow her on Twitter at: @DasanjAberdeen or @TheAfter5Edge.
“Arrow Upstairs” image courtesy of renjith krishnan / www.FreeDigitalPhotos.net
Great post, Desanj.
As you have said, it is the little things that we must attend to that will often help us remain afloat..
You have also brought out one of the most important things in life, as well as in getting and keeping your business running well… relationships.
Train your emploees well, while empowering them to do their jobs well.
Link up with pther businesses that you can learn from and share the load.
“Use” your network. That’s why you have put in the time to build it and nurture it.
Get good mentors that understand you and understand your specific issues.
And the most important element that ties all of these other things together is to learn to listen attentively.
Thanks for your comment, Martina!
People and relationships are fundamental in life and that carries over into business. In our personal lives, taking the time to listen to others and learn from them leads to stronger relationships; and in business, you obtain a lot of insight with this approach. Not only will you learn how to better serve current clients, but you’ll learn why they come to you and how you can leverage that information to attract new clients.
Great article. I agree that creating systems is key. I teach my clients the importance f operational and marketing systems to effectively leverage their time and make growth consistent. Thank you for adding value with this post.
Great point, Darnyelle!
In business, it is important to focus your time where your strengths are and in growing the business. So if you can map out a system and get help with attending to the day-to-day activities, you will be free to participate in more business development activities and explore other revenue streams that you can add to your business.
Great tips – now people, PAY attention to them.
But, I do have a question Desanj – where is your byline AT THE TOP!? Hello!
And, what is an invoice?
Okay, now seriously – people – do NOT under-estimate the POWER and value of a good, strong mentor!
I was blessed with two at KEY points in my career. Sadly and selfishly, they both left “the biz” (my first career was in showbiz), one by dying far too young and the other by retiring far too young. When I “lost” both of them, I knew it was my time to leave as well – which I did in my mid-forties.
I took several years to figure out the next career, which I’ve been doing alone ever since…THESE tips would help me out, but I’m too stubborn and stuck in my ways to give a sh*t now, AND (this is a blessing AND a curse, trust me), I can afford to do it MY WAY…
My next column, ironically, is how business practice have changed in today’s high tech world – FOR THE WORSE, as I see it!
Thank you, Bruce! I’ve learned so much from you in just one day!
Thanks for sharing your story about your mentors. I still keep in touch with people who have shaped my life 10 years out! It is important to remember people, especially in business. And as much as we benefit from others, it is important to pay it forward also; it is never too early to begin because we all have the power to make an impact.
Your upcoming piece should be an interesting read. I think business principles remain the same but now we have new approaches and tools; and technology certainly allows us to expand our reach!
Make that “business practices” – plural – forgive the typo!
Great article, Dasanj!
I stress these two points to my clients and with workshops I teach – strategically partnering with others businesses and entrepreneurs, and using mentors to give you guidance as well as introducing you to other networks and people you don’t know.
Other businesses (especially your competition) already have a client/customer base that you can be introduced to. More importantly, they have intangible resources that can ultimately benefit your business.
People that already know you and your business are more likely to support (emotionally and financially) – the true test of your product/service is if people you DON’T know cough up their money!
Thanks for the helpful tips Dasanj, keep up the awesome work!
Chike,
I’m glad to hear you’re already sharing these points with others! There is no reason to take on the challenge alone. It is all about working with others and helping each other along. Ultimately, we’ll all learn and have a support system! Even within your niche, there is enough room for everyone to succeed so in helping others, you help yourself.
And yes, the biggest challenge is turning prospects into paying customers. So as much as possible, it is a smart to leverage strategies to make the task less daunting.
What great insight you shared! Thanks for reminding me of all the important aspects on how to efficiently run my small business. Clarity of vision is key! Well done!
“Clarify of vision is key!”
I like that! It is so true. Sometimes we need to get out of the details to see the big picture and remember where we need to focus our attention. It is always best practice to do that periodically.
Wonderful article and so very true. I think it is so important to find a mentor. They will cut down on the learning curve and help you avoid so many mistakes.
The key is to not come to them empty handed. Mentoring should be a two-way relationship. First you have to figure out what you can add to their life or business?
It is just like trying to get a client. Our favorite radio station is WIIFM (What’s In It For Me). Add value to their life and they will be happy to add value to yours.
Very true, Shawn. Additionally, a mentor is in no way obligated to do the work for you so expectations should be realistic. They serve as a guide, sounding board and they provide clarity. It is important to clearly communicate how you could use their help so they can have direction and efficiently use their time.
Dasanj, thank you for these rock solid tips. Running a small business isn’t as daunting when the operations aspect of it runs smoothly. One of my foundation items is to have the needed equipment (hardware and software) for the jobs that I take on. While I’m a writer, I also handle major projects (annual reports, websites, e-newsletters) that involve graphic designers and web designers. This requires the right software and online services, such as file storage and a good photo filing system. Another thing that is somewhat mundane but can save tons of time is being organized. Knowing how to find things quickly in paper or electronic files makes the job that much easier.
Thanks for sharing your actual examples, Liz. These are specific examples that others can certainly benefit from. Planning and organizing are necessary and alleviate a lot of additional stress when done appropriately and in advance. The idea is to not have to think about recurring situations and processes each time. Once the logistics are in order, you truly become free to focus where your strengths are.
Yes, I do agree to you. It is very important that a certain business has it’s own system. This serves as a law, a protocol where everyone must abide and follow. Great tips here. Your tip number one is very applicable to small businesses. Being the owner of the small business does not mean that you can carry all the task and operations. If you want to excel or progress delegate your other task to your employees and focus on the things that help promote prosperity and improvement.
Great article Dasanj. I launched my website back in January and am still building traffic referral sources. But once the online presence becomes an authority, I plan to grow a physical business around it.
Very extensive business plan. But your tips here will help so much when I begin hiring people to run the less important tasks or those that are a major time spend.
I also visited your website. Excellent concept. We’ve arrived at a point where only those who put forth that added effort will reap the rewards of a great paying profession.
Thanks for sharing.