No, I’m not suggesting you ignore a quarterly marketing plan, annual financials or your annual business plan, but realize that it’s important to run your business one week at a time as well.  Here are a few keys to success that need to be done weekly:

• Monitor your key metrics.  I encourage my clients to create a dashboard of what matters most in their business so that a quick glance gives them a sense of where they are.  The details vary by the business and might include daily sales, margins, orders from new clients, repeat sales, average transaction amounts, inventory levels, number of open customer files, project values, accounts receivable and accounts payable.
• Step back and look at the big picture.  Take time each week to think about the strategic direction of the company.  Where do you want to be in 6 months, 1 year, 5 years?  What steps do you need to take to get there?  Your competitors, the industry and your business do not stand still just because you’re not watching.  Set your own course for where you are going or don’t be surprised where you end up.
• Keep an open mind.  Be accessible when your team and customers provide ideas or feedback.  Treat all ideas as good ideas, even if they run counter to the way it has always been done.  Sometimes defying convention is a way to get ahead.
• Try something different.  Spend some time running down a strange idea to see where it takes you.  If you don’t, you’ll miss out on opportunities.
• Give praise.  Point it out when one of your team members is nailing their job.  Everyone loves to be recognized and genuine praise goes a long way.  Encourage your team to keep up the good work and you’ll see more of the same.
• Maintain your spark.  Entrepreneurship is a marathon – a very long endurance race – not a sprint.  Don’t work so hard that you burn yourself out or lose your edge.  Exercise, get a good night’s sleep and devote time to your personal relationships and hobbies.  Being a well-rounded person will keep you fresh and make you a better leader and innovator.  Being an exhausted workaholic is counterproductive.
• Walk the walk.  Your team will take their cues from you about how they should feel about the state of the business and how they should treat each other and your customers.  You are the keeper of your business culture, so be the kind of person you want your team members to be.  Your mood, your emotions and the behavior you model are contagious, so come to work energized and enthusiastic.

If you spend a little time each week on these keys to success you will enjoy your business more and have a better balance in life.  Want to take your business to the next level?  Call to make an appointment.  I look forward to speaking with you.

Holly Hanson, Director

Cumberland Business Incubator

2569 Cook Road

Crossville, TN 38571

931-456-4910