Many businesses start out as a ‘one man band’ whereby the business owner does EVERYTHING. While that is possible in the early stages, as you develop your client base, work on your products or services and promote the brand, it’s not viable longer term. Even if you want it to be, it’s just not possible. I’m going to highlight how you can best prepare for business success, but first I want to analyse, what IS success?
What does success mean to you?
Success means different things to different people but generally there are a few key points that make your business successful, regardless of business type or industry.
- you’re regularly selling out of product/getting enquiries from potential clients
- you’re making a comfortable amount of money so you can live well and pay those bills
- you no longer feel the dread or worry of starting out.
Have a think – what does it mean to you? Is it when you smash that £10k monthly goal? Is it when you’ve launched a new collection? Maybe it’s when you have 10 regular monthly clients paying for your services? Once you’ve defined success in your own mind, it will help you strategise and really work on those goals.
So how CAN you prepare for success?
As the business grows, you’ll need to look into outsourcing. It’s the only way to continue to increase income without working every hour available. Outsourcing is wonderful – I’m a huge advocate of it. “Do what you do best and outsource the rest.” It allows you to focus on growing your business, doing the tasks that bring in the money, that you’re really good at (and I mean, REALLY good at) and not wasting time, money and energy on tasks that others can quite easily do at a fraction of the cost. As your business starts to grow, you will need to start preparing for success and planning for growth.
What would happen to your business if you suddenly had a buyer who wanted 1,000 of your handmade products? Or if you picked up 6 new clients in a month? Would you be at capacity? Would you be able to cope? Would you have a meltdown?
In planning and preparing for success, you can minimise those risks so when the business does start to grow, you can take it all in your stride. So exactly how can you prepare for success?
- Get systems in place NOW. Ensure your business has the capacity to grow. Are your prices profitable if it does suddenly take off? Ensure you have the ability to manage your time, social media and emails as a business owner should.
- Set goals – that scare you! Having set these goals, when the business starts to grow you won’t feel flustered by the sudden growth. Your mind will be focused from the goal setting enabling you to really drive it forwards.
- Get your team ready. If your income doubled from one month to the next, chances are you’ll suddenly need to find extra people. Whether they help with social media scheduling, administrative tasks or book keeping, getting the team around you who can help and support you will safe-proof your business. Once you have the ability to outsource those slightly more menial tasks, you’ll be able to work ON, not just IN your business and you can really focus on driving it forward. The more you drive it forward, the more your team will have to do, but the more you’ll be bringing in each month. It’s all about speculating to accumulate. You’ve got to spend money to make money!
- Get a coach. A coach has the same desire as you. They really want you to succeed. They’ll set you targets, help you streamline your business, make more money and really get the very best out of it. If you’re wanting to prepare for success, start with the investment of someone who can get you there.
- Analyse your strengths and weaknesses. If you make beautiful products but don’t have the confidence to sell, sell, sell, hire a sales expert. No good at maths/hate doing your accounts? Get a bookkeeper and accountant on board. The cost spread over the year (plus the amount they’ll hopefully save you) will be worth every penny!
Success is a wonderful thing – helping my clients get their own version of it fills me with so much pride. Whatever it means to you, it is possible and you can get there. Just ensure you’re prepared for it so you can embrace it and drive your business forwards. 2018 will be your year.