Cash is the lifeblood of a business, and without it a business dies. With this in mind, the all-important question therefore has to be, "How can I improve cash flow for my business?"
Small business owners need to know what their personal and professional goals are five years from now. Only then can you begin to execute the plan to leverage your time and your talent to grow your small business. Start now. Don't wait.
Most sales people I speak with claim they have a plan—often I think they thought they had a plan, but really didn't. But whether they do or don't, so many sales people get off course in their sales efforts. They encounter difficulty, are put off their plan, and just play catch up through the rest of the buying process.
We've all made bad decisions. Think for a minute about the crazy, life-threatening decisions you made as a 17-year-old. If you're like me, you sometimes feel lucky to be alive.
There are any number of reasons for setting goals for yourself as the CEO of a small business. Even with a successful track record behind you and a well-oiled process in place, new challenges will always appear on the horizon and you never know in what ways you might soon be tested.
A slow season every now and then can be difficult to avoid, as most small businesses will inevitably hit a slump in revenue at one time or another. However, just because profits have dropped does not mean work is over.
A serious entrepreneur will recognize that 1) competition is always going to be there, and 2) there is much to learn from competitors.
Think about it. Do you spend the majority of your time and energy working on your passion or trying to improve your weaknesses? If you're like most of us, it is the latter.
Real business strategy is mostly just focus. It's about what you don't do, sort of like how a marble sculpture is formed by what's removed from the original block. Focus on what you and your business do best, what you do better and different, and then focus on a specific set of potential customers and focus again on building exactly what they want or need.
I don't want to be a strategist. Yeah, like you, I like to be a thinker. I like analysis. And strategy sounds cool. But the term strategist is too much pomp, arrogance, a relative of using utilize instead of use, or at that point of time instead of then.