Meditate– The worst thing you can do for your business is start each day in a race. I am strong believer in thinking about your day before you jump into it. I start each day in prayer before I leave my bed. I find that I am able to keep a positive disposition throughout my day regardless of what happens as a result. Years ago, Oprah Winfrey featured a book on her show called Simple Abundance; A Daybook of Comfort and Joy by Sarah Ban Breathnach. In it, she provides daily lessons about the concept of peace, joy and gratitude. This is a great book that I have used over 10 years to stay centered. If you start your day thinking about what you are grateful for it’s much easier to keep perspective when things go wrong. Running a small business involves 10 or more jobs at one time. Do yourself a favor, slow down and mediate on something before each day starts.
Know your cash flow situation— Cash is King! You have to know what your cash flow is, every single day, or you could lose your business. You should run your business based on a 30-day cash flow projection. You need to know how much money is coming in and what money needs to go out daily. You also need to stay on top of what invoices need to go out, and what the payment procedure is for each of your clients. Start collections procedures the first day after your money is past due. Never hesitate to call your client or the bank to get clarity about your cash flow situation. No matter what accounting software you use or what bookkeeper you hire, as the owner of the business you must know your cash flow situation every day.
Set aside 1 hour a day for business development— Work on getting in front of someone who may buy your product or service every day. Sales is the life’s blood of your business. Each day you must conduct business development activities in order to stay ahead of the competition. You can make calls, write emails, send thank you notes, Connect with new connections on LinkedIn, search for conferences and trade shows to attend, develop signature content, use social media to build relationships as lead generating activities. You need to make it a priority each day to spend at least one hour generating new business.
Follow-up with 3 three existing connections— People do business with people they like, know and trust, but you must nurture those relationships. Reach out to existing customers you haven’t spoken too in a while. Give three recommendations on LinkedIn. Send a lengthy personal note on Facebook. Make three calls or send follow-up notes with an article your read in the New York Times or Washington Post over the weekend. You will spend a longer time on these contacts, but they are further down your sales funnel, so they are worth it.
Get your plan together for the next day– One of my other favorite books is the 7 Minute Difference by Allyson Lewis. In this book, she says you need to do 5 things before 11am each day and anything else is a bonus. I love this and I do this every day. I make my list of the five things at the end of each day so I have a game plan for my day each morning. This, by the way, is also how I sleep well at night.
Do you have any suggestions for the daily priorities of a small business owner?
For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.
Nice list! So far, i’m 2 for 5, but I’ll see about implementing the others.
Great article! I love the part about meditating each day. I know that is powerful. I will certainly use the other suggestions to help keep my business alive and prosperous. Thank you so much for sharing your wisdom, insight and business techniques.
I greatly appreciate you!
I agree. The meditating (and prayer for me) is something I know yields order and focus for my day. Unfortunately, the busier I am the more I tend to let this area slide. Thanks for the reminder!
Awesome list, I’m becoming more and more of a believer in routines/lists, and less and less of shooting from the hip, especially since our family involves 3 little ones – time is king!
I love the part on meditation , incorporating a 30 minute walk with the meditation, is a way to kill 2 birds with one stone.
Thanks for the list! I’ll update my daily routines.
I love that the first thing on your list is meditate. I don’t know who you are yet, but I’m already a fan, and I’m off to read more stuff by you. 🙂
Love everyone of those points, Melinda! Taking care of yourself (meditating), taking care of current clients (follow-up with 3 existing clients), knowing where your business is today (cash flow), and growing your business (1 hr for business development, daily plan). The only thing I might add which has helped me in big ways, and Byron alluded to it above, is exercise. It not only helps relieve the stress, but makes you feel better and keeps you healthy.
Love it! I agree 1000% about meditation and watching cash flow. Thank you for sharing your brilliance. 😉
These are great points on how to be productive. It’s easy to get caught up in things that might not deliver in the end. Your suggestions make for a great formula! Thank you.
Great article, Melinda. I love the part about following up with three existing contacts. I do that but not on a daily basis. 🙂
Time management is so important in operating a business especially when in the initial start phase. Great tips!
Great list! If you have or are looking to build a strong web presence, I would recommend checking on the “temperature” of your website. We, Pawntique, keep an eye on daily traffic, leads, comments, and mentions to make sure that were are on the right track to meet our goals.
Great tips. It’s also really important to find time each day to follow up on emails, phone calls, and social media comments and mentions. If you put off following up until tomorrow, you could miss out on a promising lead or the opportunity to engage with potential customers.
Melissa, to your extensive list, I’d like to add Pray, and show gratitude for all the blessings you’ve received so far throughout your entrepreneurship journey.
Thanks – Great, focused advice
Best pratical post for entrepreneurs I have seen in a while. Great actionable content! Thanks Melinda!
Nice article! Agree, we can’t race all time, we need to relax little bit and then think about future development. Also, sales and good support are the most important thing to stay in business.
Very informative Melinda. You are a very wise daughter of God. Thank you for your steadfastness!!!
A man without a plan is like a ship without a Rutter…..planning is the best and these 5 keys points are vital
Totally agree with you Tanisha! “Profitability is no accident–it takes a plan!”
@SandraBaptist
Oh so true Tanisha! The definate place to start is daily planning and implementing the 5 Key Points stated by Melinda. Key point #1 with Meditating helps me keep positive and motivated.
#1 is so key. Meditation sets the tone for the day. Your mental and emotional well-being are your points of attraction and determine how things will turn out and show up in your life and business. Great post!
Loved the article! Specially the part about not rushing — its a marathon not a sprint and also having 5 things before 11 definitely makes one feel established!
Thanks Melinda!
Awesome post, Melinda. This is my first time on your blog and I love what I’m seeing 🙂
It’s very rewarding to take sometime every morning(before you start your day) to say a prayer or gratitude because this basically sets the tone for your day.
I’ve never heard of the book “7 Minute Difference”. I’ll be sure to check it out. I like your suggestion of doing at least 5 things before 11 am in the morning. If this is done consistently, amazing results can come out of that.
Thanks for sharing.
Very Nice & inspirations way to uplift & Grow your business! Thanks very much Melinda. May GOD keep you alive for the very long time, we people like you in our LIFES,
Thanks Melinda! Very good advice! I’m new to twitter and your post interested me.
I will start to implement these tomorrow! I need some serious structure.
Insightful post. Love the 5th point about planning for the next day before you sleep.
Hi Melinda
I agree with you.Having a set daily routine is. The key to a successful business. Unfortunately in my case. Everyday life keeps getting in the way.
…so what can you do to get in front of life?
Don’t finish your day without planning the next day.
@SandraBaptist
Love your list. I will be implementing everything on this list tomorrow. I love the mention of Simple Abundance. It’s a fave of mine too. I often give it as a gift.
Great Tips Melinda! So simple and easy to implement!
Great list. I think that another important daily business routine should include having a social media presence. Although it should not be the only marketing presence you have, managing the presence itself requires daily interaction.
I too love that you started your list with mediation! These are all great tips and to answer your question, the 10 minute rule helps me stay on task. At 10 minutes before every hour I ask myself, what’s next? It works! Whether I’m billing, or meal planning this trick keeps me on task.
oops, I meant meditation… need another cup of coffee. 🙂
I loved this list! I consider myself an organized person…but prioritizing is what challenges me! I am going to print this, and start incorporating it into my daily routine, TODAY!
Thanks!
Maybe I would add : not having too many goals in a day ?
These are all great ideas! I will be getting the book you mentioned in#5. Thanks!
LOVE the tip on meditating. People tend to think that they should instantly leap into the workday, but it does help to ground yourself first and take a few minutes to calm yourself down and reflect on what needs to be done.
I have referred to this article several times to refresh myself on these points. Very helpful guide and easy to implement in your business routine! Thanks Melinda!