Mon, 4 January 2021
What does your business need to start moving forward into 2021 with all the confidence in the world? Well just like you would set personal resolutions of losing weight, getting fitter, self development. Running a successful business more often not requires you to do as much clearing up, getting rid, and pruning the dead parts as always going for the new. In this podcast we look at the four things that you can start doing today to make your tomorrow so much brighter. Clear Friends and Acquaintances We all know how it is nowadays. You are working on your pc, or phone a friend request comes through from somebody you dont know, you do a quick check and boom, they are connected to you. But why do we do this online, operating in a totally different way to how we would live our lives in real life? You wouldn't be at a bus stop and a random stranger asks to see your family photos, but in an instant you can give your life way online. Its madness. On the other side, you can easily find your focus lost with so many other people lives being part of your daily routine even if you dont know them? So our number one, resolution each year is take a good look at each of them and if they aren't relevant or useful, or actually been in contact get rid of them. You will find it so much easier to build a powerful network that works for you, instead of one that works against you. Clear Outstanding and Half Finished Entries When you are building a business you will start work with all the passion in the world. This is going to be the big thing, that kick starts everything for me. This will be my golden ticket. But in all honesty 80% of it really doesn't go anywhere and just fills up your Google Drives and desktop with clutter. Now this is a hard one to do, as like most of us you will think "Yeah, that is important...must keep that" So our little tip is change the search criteria to see when it was last modified on your computer, and if it was more than 3 months then bin it. You dont really need it, or you would have gone back and finished it off. A clean workspace free of distractions and clutter is the way towards a successful online business. Make Small Monthly Targets In our view a yearly or quarterly targets is not achievable, as you never know what is going to come out of the woodwork and send you off track. Being an entrepreneur is about being flexible and agile and finding your way around obstacles. Which is why in our view targets too far in the future aren't feasible and wont lead to success. Think about it, if life is about joining up the dots to get the success you want then just four big bulky dots per year wont get you far. 365 small, bouncy and perky dots....well that could get you round the world and back. UNDERSTAND YOUR PROFIT AND LOSS OF YOUR BUSINESS When you create a business from scratch you feel that the initial expenses are going to remain the same. Its an easy equation to work out, what i earn from the business against what i spend is what i need to do. However this is a simple mistake that will keep in you in the same position financially for much longer than you need to be in. To create a business that grows you must bring in another 20% to the equation that can then be reinvested back into the business. This could be for outside support and help. This could be for automated systems that help drive more traffic through your business. It helps you to grow, and without surplus funds that are specifically allocated for growth you journey will be so much harder. So lets look at the equation again as it should look something like PROFIT IN - MINUS EXPENSES - MINUS 20% = EARNINGS. Every year its a good idea to start reviewing your financials and building upon the success of your business. You cant be boot strapping it forever.