As the great Benjamin Franklin once said, “If you fail to plan, you plan to fail.”
With all the moving parts of a business to look after, it’s no wonder that some things fall through the cracks affecting your business growth and bottom line profits.
Let’s examine 5 mistakes that will diminish your profits if not fixed right away.
1. Inconsistent Marketing
It’s just not enough to publish one Facebook post or a couple of tweets every week. Likewise, ignoring your email list is also detrimental to your business. If you don’t keep up with a consistent marketing plan, people will forget your name, will forget how they ended up on your email list, or forget why they’re following you on social media. These forgotten people need to be won over yet again and they need to hear and see your company name on a consistent basis before they decide to spend money on your products or services.
2. Failure to Automate
Are you stuck in the old school way of doing...
"Some’s sitting in the shade today because someone planted a tree a long time ago" – Warren Buffet
I admire people who have a plan. I’m naturally a kind of ‘live for the day’ person.
Don’t get me wrong. I am incredibly good at planning, especially when there’s a client and a deadline involved. I’m talking more personally. When I was younger, planning for the future never really crossed my mind.
My other half, Sam, is someone I admire very much. Not just because he buys me flowers ‘just because’ and always makes sure there’s a stash of chocolate in the fridge (my choice of poison). He has a completely different outlook to me.
He had his life planned out from a very young age. And when I mean young, I’m talking about his teens. He knew what career path he wanted to follow, went for it, kept an eye on where he was going, tried different things along the way, tweaked it when it needed tweaking and now, he’s ...
Starting a business is a bit like planning a long journey.
If you’re taking a trip somewhere, you’d work out how and when you were going to arrive, how long it would take to get there and what you’d need throughout the journey.
Setting out a similar plan for your business is the right thing to do too. It will give you the same type of results you’d get organising a trip, and enable you to focus, track and reach your goals.
This is where creating a routemap for your business right at the very beginning is really important. (It’s never too late to create one either, even if you’ve been established for a while. That’s what I did.)
Why’s this so important?
Well, just like a journey, if you don’t have a map, how do you know where you’re going? Worse still, if you don’t monitor what you’re doing, how do you know if you’re anywhere near achieving what you set out to do?
By keeping an eye on where you are in...
You’d be surprised by how many people lose track of where their time goes. They might think they are focused on a single task, but are they really? One way to find out is to keep track of how you spend your time for a week. You might find out you’ve been wasting time on little things like checking Facebook once an hour.
Here are my strategies for improving your focus and increasing your productivity:
1. Track your time. Analyse the results after a week. Tweak and get rid of time wasters.
2. Plan your week. At the end of your week, find a quiet spot to plan out your week’s tasks. Write down key projects and the tasks associated with them. Don’t forget to add in family activities that you participate in as well.
3. Prioritise your list. Break down your tasks from most important to least important. Use a calendar to mark out blocks of uninterrupted time (anywhere from 15 to 60 minutes) to work on each one.
4. Eliminate what isn’t essential. Outsource what...