When entrepreneurs discover their business is floundering and in trouble, they all have the same question, “What does it take to get to the top?” After all, they’re working as hard as they can – long nights, all weekend, they seldom see their families anymore, and they can’t remember the last time they relaxed with friends. So why aren’t they making any money? What can they do to turn it around, and quickly? There are tasks which are often forgotten by entrepreneurs in the stress of chasing the urgent rather than the important tasks that they should be doing.
Here are the top ten things every entrepreneur should do on a daily basis
1.Create your perfect day.
By creating your perfect day before you even start work you will, more than likely, end up having that day. So, how do you create the perfect day? Ensure you have good coffee on tap? While that is a great idea, that’s not what I mean. Creating your perfect day means putting down on paper what that day will look like. Write down your ultimate goal, as well as your daily goals every day. This will help you stay on track. What does your perfect day look like?
2. Read for 30 minutes a day and action what you read
Nearly every entrepreneur I mentor balks at this suggestion. Reading for 30 minutes is 30 minutes they’re not working, not making money, and they’re busy, busy, busy. Unfortunately, they are focusing on what’s urgent, rather than what is important. Doing urgent things keeps you from building your business and reading will build your business. But, you can’t read just anything; you should be reading how-to business success books, and then actioning what you read that same day. Make notes as you read so you can add the learning into your perfect day plan. If you don’t make notes and action it the same day, the lesson is most likely to be forgotten and lost. One way to look at the 30 minutes is that it is not only for acquiring tips on how to run your business better, but rather as personal development time, especially when it comes to reading leadership books.
Alongside your ultimate and daily goal list create a personal development plan and in it list the books you need to be reading now. What relevant and current business, sales or leadership book are you reading at the moment?
3. Test and measure everything
It’s vital that you test and measure all the data you possibly can to evaluate the performance of your programs, systems and marketing channels. Test everything you are spending money or time on and if you are not getting an excellent return on investment within a very short space of time, you should consider abandoning that channel or finding ways to improve it. There are three areas you should be testing regularly:
Leads: Test where your leads come from. There’s no point pursuing one particular line if the majority of your leads come from another line.
Sales: Test how your leads convert to sales. Nine times out of ten this is an area where improvement can continuously be made.
Customers: Test the average spend of each customer with your organisation. Once you know what the average spend is, you can weigh that up against your main goal. This will show you if you are pursuing the right type of clients. Too many clients with too little spend will take you longer to reach your main goal.
When was the last time you tested and measured your programs, systems and marketing? Do you know if these are working effectively for you?
4. Take back control of your attitude
When things go wrong in a business, a poor leader will look for someone or something to blame. If you want your business to turn around and succeed, this has to stop. You need to take ownership and responsibility for the problems and failures. Only that way can you move forward and find real solutions. A change in attitude is a fool-proof route to achieving good and profitable results.
Are you throwing blame on something or someone at the moment? Do you need to reassess your attitude and make a change?
5. Take massive action to get results.
If you are looking for massive results, you have to take action. The amount of action you take determines the level of the results you achieve.
What action are you taking? Do you know what action you should be taking?
6. Build your database daily.
The first thing you need to realise is the smaller your database, the less chance you have of increasing your profit margin and reaching the level of success you want. Building your database is an ongoing task and shouldn’t be relegated to only those times when work is scarce. Here are just a few ways increase your database.
- Referrals – Ask for referrals from clients or from your personal network.
- Networking – Attend networking events and ‘work the room’.
- Website – Build a professional SEO-optimized website and ask your web developer how to use the site to generate leads. Add client testimonials to the website – keep updating them.
- Online – Research where online your customers are most active and and promote your brand on those platforms.
- Linkedin – Build relationships with prospective clients on Linkedin.
- Email – Track online and email engagement and analyse the data so you can improve your engagement strategies.
How large is your current database? When was the last time you added the names of new prospective clients?
7. Follow up daily
It’s no good having a database if you never make contact with them. Staying ‘top of mind’ with prospective and existing clients requires the personal touch. Daily, or at least weekly, it’s important to connect with your current clients, preferably on the phone. Connect with them find out how are they doing and if there’s anything you can assist with. If you are connecting with a prospective client try to discern what it would take for them to sign you up.
Who did you call today – current or prospective client?
8. Stay focused
Urgent or important, these are the two questions you should be asking yourself with every task you do each day. A good way to assess whether the task is urgent or important is to hold the task up against your ultimate goal. Focusing on the important tasks rather than the urgent one is key when it comes to growing your business. A good rule is to, ‘Spend time on actions which take you towards your goal, and stop doing those which don’t’.
What tasks have you lined up next? Are they urgent or important? Are they taking you toward your goal or away from it?
9. Always be selling, subtly
If you run a business of any kind you have either a product or service you wish clients to purchase or sign up for. That means everything you do should be bringing an existing or potential client closer to increasing their spend with you or signing on the dotted line. But, no one wants to talk to or even work with someone who is constantly and aggressively selling ‘at’ them. One of the most important skills an entrepreneur needs is the art of selling – subtly.
When was the last time you read a book or attended training on the art of selling – subtly?
10. Always be learning
This is the most important thing anyone can ever do. It doesn’t matter if you are an entrepreneur, a solopreneur or an employee, always learning means always growing personally and in business. Someone once said, if you’re not learning, you’re dead. In order to make sure you keep growing, that your business stays alive, you should set out to learn something new everyday. Don’t limit your learning. Yes, there are excellent book, talks, conferences you can attend, but don’t forget you can, and should, learn all the time, everywhere and from everyone.
What was the last new thing you learned? Did you learn something new today?
When a business is failing, the first thing it needs may not be a new accounting system or even new staff. If you’re not sure how to begin, a business coach can help. My online assessment form is a good place to start.
Wouldn’t you like to have a successful company and reach your goal?