Why you need business consistency in these 4 areas
In business quite often we can get caught up in the day to day, the phrase ‘busy fools’ comes to mind, and we neglect to maintain a balance in business, because sometimes we just end up doing things, that perhaps we shouldn’t be doing, we should be maybe delegating them, or outsourcing them… but often we don’t catch ourselves, we just get caught up in doing what we have always done.
And if you are running a business, this can get dangerous, as what may happen is you neglect other areas of your business that you need to be spending some time on. We need to have a balance in business in some key areas, and if we don’t, I guess it’s a bit like a three-legged milking stool. If one leg is shorter than the other, or doesn’t exist, then it is going to fall over.
So let’s have a look a the 4 key areas where you need to have a balance in your business :
- Operations – this is the day to day, the everyday doing stuff. So, for example, that’s when I am coaching my clients. It’s essential we spend time here, but, as I mentioned before, not too much time. Otherwise we neglect other things.
- The second area we need to spend time in is Finance. Now it’s not everyone’s favourite place to be, but when it comes to understanding your business numbers, this is not just the accountant’s job – a good accountant for sure will help compile and help you understand the numbers – but it’s YOUR business. Know your numbers, know what they mean, what they are telling you and make decisions based on fact – not emotion.
- The next area we need in the balancing act is Sales and Marketing. You might be lucky enough to have a referral only business. If so – great. But what if something happens and that dries up? For many the approach to marketing is hap-hazard. Marketing is a process, not an event. We should know what marketing brings in what results, to ensure we get a Return on Investment. A marketing plan or calendar is a great thing to have – along with a budget – this often also gets missed!
- And if these 3 things are the legs of our imaginary 3 legged milking stool – then this last thing is what binds this all together as a seat on the top – Leadership and Management – looking after the people aspect of our business.
Regular 121’s with them, taking time to listen to your team and their ideas. We need to have a structure of what happens when with our team – are we taking time to grow them as individuals, are they clear on what’s expected of them? Often people are our most valuable asset, which we often don’t spend enough time on.
So – have a look at your diary over the last month and section it off – have you spent the right amount of time on each of these areas (by the way it doesn’t have to be an equal amount of time- just the right balance for you)
Now think ahead to the next month – what do you need to do to get the balance right?
