Category: Startups

If Time Were Money, How Would You Manage Yours?

Business owners often equate being busy with being successful. 

Newsflash:  they’re not the same thing!

Time is more precious and has a more limited supply than money. There are only a finite number of days that you will spend on this earth.  Therefore, time is gone forever, if you waste it.  On the other hand, money is something you can usually get more of.  That is, you have the ability to make money back after losing it.  

Photo by Aron Visuals on Unsplash

The fact is that many business owners, such as yourself, actually manage their money as though it is more precious than their time. They started the business to choose their own hours, spend more time with their family, and be their own boss. Somewhere along the way, though, the only goals that mattered became the financial ones. Over time, the only item worth measuring and managing was money.

Your time will never be managed for you – you have to make a decision to commit to spending your time wisely, taking ownership of your own schedule, and using the power you have to change what isn’t working. 

When you focus more on time management, the goal is to get more done in less time, and thus increase your hourly worth (among other benefits, of course!).

There are five major things that drain your time. But don’t worry, it’s really easy to fix the leaks.

  1. Email – Your email is a constant distraction!  With you email program(s) running all the time, emails can distract you as they arrive. Or, you’ll find yourself checking for new messages every five, 10, or 15 minutes. Writing, reading, and responding to emails can easily monopolize your time because they seem like an ever urgent and important task.
  2. Smart Phone – Your iPhone or Android device has likely given you increased freedom from your workplace, but they seem to have also taken away your freedom to choose when you work. You can work outside of the office, but this often means you also work evenings and weekends when spending time with your family and friends.
  3. Open Door Policies – While you want to be open and accessible to your staff, sometimes you can make yourself too accessible. Open door policies have the potential to create a daily mass of employees lined up at your door seeking immediate answers for non-emergency issues.
  4. Meetings – Unstructured, unnecessary, run-on meetings can gobble up hours for no reason at all. Especially as a business owner, your presence may be requested at a variety of meetings, but it’s not always required. Days spent in back-to-back meetings often mean that your workday starts at 5 pm instead of 7 or 8 am.
  5. You (yes, You!) Since effective time management is a choice, everyone is guilty of letting themselves sabotage their ability to work productively and efficiently at all times. It’s easy for business owners to avoid separating business hours from leisure time and let the two run together. We all have distractions that we fall into from time to time.

Now you need to take some time to figure out where your time actually goes, so you can see what leaks need to be repaired.

You’re going to take a good long look at how you spend your time so you can paint a clear picture of your current situation. Once you understand your own personal habits and patterns, you can start making changes that will have the greatest impact on your own schedule. You’ll learn how to be a better time manager.

Complete a Time Audit for three working days in a row.

First, record how you spend your time in detail for three working days.  Be honest with yourself, and be as specific as possible. If you notice something about what you’re doing, or which distractions have the greatest negative impact, log these notes as well. The more information you can record, the better.  This is not the easiest or most exciting exercise in the world, but the data captured will be eye-opening and transformational!

Take a look at your time records, and categorize the different ways you spend your time.

Next, use different colored markers or highlighters to shade the blocks of time you spent on various activities. You can create your own categories, or use the ones below:

  • Client work and follow-up
  • Prospecting/Business Development
  • Networking
  • Business Strategy Planning
  • Branding/Advertising
  • Training
  • Compliance
  • Emailing (checking, reading, returning messages)
  • Telephone(checking and returning messages)
  • Administrative work
  • Internal meetings
  • External meetings
  • Being with Family and Friends
  • Eating, including preparation
  • Personal Errands
  • Exercise
  • Watching TV/Netflix
  • Internet browsing
  • Social Media
  • Sleeping, including naps
  • Travel

Based on the categories you created, go through each of your days and decide if you have spent enough, too much, or too little time on each main task.

Based on your observations, answer the following questions:

  1. What patterns do you notice about how you spend your time during the day? When are you most productive? Least productive? Most or least interrupted?
  2. Write down the three highest priorities in your life right now. Does your timesheet reflect these priorities? (Show me your schedule and I will show you your priorities!)
  3. If you have more time, what would you do?
  4. If you had less time, what wouldn’t you do?
  5. Could you remove the items in question four and add the items in question three? Why or why not?
  6. Is procrastination a problem for you? How much?

Here are a series of effective strategies for improving your time management skills, and for doing more in less time.

The strategies described below will help you take charge of your schedule and use your time in a more effective manner. Grab your pad of paper and start by choosing five or six strategies to try.  Take some notes as you read through this list and decide which you will try first.

Remember, this is an individual process – everyone works differently – so if you have to try a few different things to get some meaningful results, that’s okay and it’s completely normal!

Prioritize Your Tasks > You can’t do everything, so you need to decide what is most deserving of your time investment.
> Choose what needs to be completed now, what can be completed later, and what can be delegated to someone else.
> Focus on your top three priorities at any one time, and consistently revise your list so that the highest priority items are on the top, and the lowest priority items are at the bottom.
Delegate > You can’t do everything, so you need to decide what you absolutely need to do, and what others can finish.
> You also need to accept that while it may seem “faster” for you to complete a task initially, spending the time to teach someone to complete the task will save you hours later on.
> Delegation is a vital skill that you need to refine, practice, and master as a manager.
Focus On Your Skills > If you have a good understanding of your own strengths and weaknesses, you can use this to your advantage.
> An effective way to manage your time is to only do the things that you know you are good at, or required for, and delegate or outsource the areas where you are not as strong.
Just Say No > Learn how to say “no,” and you will reclaim dozens of hours every week.
> It’s so easy to say “yes” to something in the moment, and later feel overwhelmed when that task is added to your to-do list. You may feel pressure to say “yes” to everything as a business owner, but you do have a choice.
Keep A Strict Schedule > Create and keep a strict schedule for yourself that supports your productivity, and minimizes distractions.
> Include personal and work time in your schedule.
> Schedule time for things like closed-door work, work planning, email and phone responses, internal and external meetings, “me time”, family, and exercise.
Make Decisions > As a successful business owner, you will need to learn to make good decisions quickly and efficiently, without wasting time with deliberations.
> You can only make the best decisions with the information you have, in the time frame you have to make it. No one expects you to be able to see the future – be decisive, make some mistakes, and learn from them.
Manage Interruptions > Establish which hours of the day you are most productive, and set those hours aside for yourself to finish important tasks, uninterrupted.
> Schedule open door hours, and closed-door hours.
> Schedule windows of time for reading and replying to emails, and for answering and replying to phone calls.
Avoid Duplicating Efforts > Take note of how many tasks are completed more than once, or by more people than necessary.
> Establish clear communication systems and procedures to minimize this, and make sure all your employees have a clear understanding of their roles and responsibilities.
> Use tools like checklists, meeting minutes, and individual task assignments to minimize miscommunication and duplication in tasks.
Stop Procrastinating > If you are a seasoned procrastinator, the idea of “just stopping” is usually much easier in principle than in practice.
> The best way to overcome procrastination is to use your willpower to stop. Refining this skill will help to prevent you from procrastinating in the future.
> Try working in blocks of focused time, with breaks or rewards at the end, and break down big tasks into small manageable ones.

Effective time management is just a formal way of saying that you make good choices about how you spend your valuable time.

Remember that time management is a personal investigation that will look different for everyone. Some people can work in the middle of a loud, crowded room, and others need absolute silence to function at a high level. Respect your own needs.

It really just boils down to making choices and setting up a structure that enables you to succeed. You have to try a few different strategies and structures to see what works best for you.

Let us know your favorite time management tips in the comments below.

CONTACT US to learn more about how our “Profitable Time Management for Top Producers” training can help your business be more efficient, get more done, and spend more time on cash-flow generating activities.

Good luck!

 

Get Your Business Back On Track With RevSherpas!

Has the recent prolonged uncertainty from economic volatility stalled or veered your business off course?

In today’s turbulent conditions, elevating to the top and reaching your target destination can definitely be nerve-wracking and exhausting.  Trying to navigate such treacherous terrain by yourself is no longer a winning formula.

Photo by Lucas Clara on Unsplash

So there has to be a better way, right?

That’s where RevSherpas comes in!

As your Trusted Advisor or Sherpa, we promise to:

  1. Steer you in the right direction.
  2. Lead you up faster, smoother, and less bumpy paths.
  3. Better insulate you from unexpected disruptions.
  4. Help you quickly adapt and course-correct as needed.

Our seasoned revenue growth acceleration coaches and customer experience strategy consultants will guide and support you to achieve your goals swiftly and safely en route to taking your business to new heights!

Onward…Upward…Forward!

RevSherpas. Client Focused. Elevated Results.

Schedule your initial strategy consultation to get your business off shaky ground here.

P.S. If your business is struggling and you would like assistance in securing additional funding, training, and support to get back on track, ask us about our new Small Business Grant Program to see if you qualify.

Why RevSherpas?

Thank you for your continued support and interest in RevSherpas!  To aid your due diligence, we wanted to highlight who we are, what we do, and what makes us unique.

Who We Are:

Based in Houston, we are a boutique customer experience management strategy and revenue growth acceleration coaching agency serving small to mid-sized businesses in Texas, as well as the rest of the U.S., Canada, and Latin America.

What We Do:

Our Core Competencies are:

  1. Boosting employee efficiency and engagement.
  2. Optimizing the customer experience to deepen client loyalty.
  3. Maximizing lead generation and marketing campaign results quickly, inexpensively, and with less effort.
  4. Improving sales conversions to increase 𝘳𝘦𝘷𝘦𝘯𝘶𝘦𝘴 𝘢𝘯𝘥 𝘦𝘹𝘱𝘢𝘯𝘥 𝘮𝘢𝘳𝘬𝘦𝘵 𝘴𝘩𝘢𝘳𝘦.

Why Clients Choose Us:

Specialized Expertise and Proven Track Record

We have 10+ years of experience leading global customer relationship management (CRM) and digital customer experience strategic transformations.  As an industry thought leader for over a decade, we know what to coach you to do and what not to do. Unlike many other consultants, we are specialists and not generalists. Our specialization and sole focus is IMPROVING AND INNOVATING THE CUSTOMER EXPERIENCE.  To do so, we enhance your CRM strategies, processes, and emerging technologies to drive operational efficiencies, increase customer satisfaction, and ultimately ACCELERATE REVENUE GROWTH.

Proactive Attention and 1-on-1 Senior Leadership Support

Our Founder, Managing Director, and multi-published author, Kevin Wessels, is your dedicated business growth advisor, sales and marketing strategist, and daily point of contact.  We do not staff your project with non-business-savvy junior or offshore resources.  Nor do we use it for on the job training.  Plus, you won’t get bounced around between departments for any customer support inquiries.  Overall, we provide a more timely, PERSONALIZED LEVEL OF SERVICE, just like we advise our clients to do.

Fresh Perspectives and Fast Track Results

To kickstart your firm’s revitalization, we deliver high-impact results in days and weeks rather than months and years with sales and marketing “quick wins”. Ongoing, we provide innovative, yet achievable business growth strategies that consistently deliver a SUPERIOR, DIFFERENTIATED CUSTOMER EXPERIENCE and also establish and solidify your MARKET DOMINATING POSITION.

Ignite your startup, turnaround, or expansion TODAY!

Contact us or call (800)569-1374 to request your free initial business development strategy session.

 

Revitalize Your Small Business With RevSherpas!

Are you a small business owner spending countless hours attempting to generate leads, attract new clients, and increase your revenues and profits, but seeing very little in the way of results? 

Unfortunately, you’re not alone, particularly with today’s economic turmoil.

What if I told you that DOUBLING YOUR REVENUES and CREATING STEADY, PREDICTABLE CASH FLOW was more achievable than you thought and that it could be done quickly, inexpensively, and with less effort, even in a down market?

Would you be interested? 

Absolutely, but how is that even possible, right?

Enter RevSherpas…

As a boutique customer experience strategy consulting and business elevation coaching agency, RevSherpas equips small to mid-sized businesses to not only SURVIVE turbulent economic conditions but also THRIVE going forward.

Sounds awesome, right?

Let’s explore how…

Your Problems and Pain Points

As we partner with you to IGNITE YOUR TURNAROUND, here are some common examples of client problems we solve for:

In terms of your Lead Generation and Marketing…

  • Are you discouraged by your sporadic or non-existent lead flow and the increasingly low quality and infrequent referrals you receive?
  • Are you fed up with the weak ROI produced by your paid advertising campaigns?
  • Are you overwhelmed and confused by which social media “shiny object” advertising tactic of the day actually delivers results?
  • Are you disappointed with the number of leads coming from your company’s website?

Do any of these pain points hit home? 

We thought so…Don’t worry, you’re definitely not alone!

In the case of your Sales Process and Results…

  • Are you dissatisfied with your sales closing ratios?
  • Are you concerned with your lack of repeat business?
  • Are you sick and tired that you frequently have to discount to win business?
  • Are you unsettled and vulnerable to wild month-to-month revenue swings?
  • Are you embarrassed to admit that stale, inconsistent, and inaccurate sales forecast data kept in separate spreadsheets repeatedly flaws or delays leadership’s decision-making?

Which of these problems are holding you back? 

In the area of Client Service…

  • Are you overly stressed about a recent rise in client defections?
  • Are you alarmed because your competitors have higher levels of employee engagement, better understand the needs of your clients, and have more loyal customers and raving fans than you do?
  • Are you inundated with the amount of inquiries from clients, suppliers, partners, investors, and colleagues?
  • Are you baffled as to how long it takes to search for and locate prospect or client data points, documentation, and past interaction and purchase history?
  • Are you handcuffed and burdened by manual, inefficient tasks when collaborating with teammates and do you seem to run out of time every day?

Which of these pain points resonate with you the most and how much are they costing your business?

Not to fear, we have reliable remedies to your most pressing business challenges.

If you’re highly motivated and committed to overcome and address your biggest obstacles, we can help, regardless if you are in startup, turnaround, or expansion mode.

Imagine having a personalized step by step game plan to GROW AND SCALE FASTER than ever before while drastically SAVING TIME and LOWERING YOUR STRESS!

Photo by Aaron Sebastian on Unsplash

Let’s talk NOW about how we can ELEVATE your business or practice to the NEXT LEVEL! 

Call (800)569-1374 or send an email to hello@RevSherpas.com to request a free initial business growth strategy consultation.

It’s your time!  

Survive, Thrive, and Emerge Even Stronger in Tumultuous Times!

In today’s unprecedented tumultuous economy, evolving shelter-in-place orders, rigorous social distancing guidelines, and dampening consumer demand continue to wreak havoc on small businesses.  As a local business owner, you’re wondering what immediate action steps you can take to better weather the storm and survive the COVID-19 crisis.  After all, the companies that are unable to adapt to the new way of doing business, that provide inferior customer service, and that don’t consistently exceed customer expectations will continue to struggle and unfortunately be out of business before they know it.  

If you find yourself stuck in the current COVID-19 chaos or frequently seeing very little in the way of results, despite spending countless hours attempting to generate leads, attract new clients, and increase your revenues and profits, RevSherpas can help.  

We tackle these challenges head-on and enable small to mid-sized businesses to not only survive turbulent economic conditions but also thrive going forward.

Imagine emerging from this pandemic even stronger than before!

Are You Experiencing These Pain Points?

As we partner with you to ignite your turnaround, here are some common client problems we solve for:

  • Sporadic or non-existent lead flow
  • Increasingly low quality and infrequent referrals
  • Weak ROI produced by your paid advertising campaigns
  • Subpar sales closing ratios and lack of repeat business
  • Sudden surge in client defections and wild month-to-month revenue swings
  • Stale, inconsistent, and inaccurate data that repeatedly flaws or delays leadership’s decision-making
  • Non-centralized and difficult to find client purchase history, prior interaction logs, and key documentation
  • Manual, inefficient prospect meeting prep, sales opportunity pipeline updates, and client at-risk escalations

Which of these pain points resonate with you the most? 

And do you know how much they’re costing your business?

It’s probably more than you’d like to admit, right?

Fear not, we have proven solutions to your problems, regardless if you are in startup, turnaround, or expansion mode.  If you’re highly motivated and committed to overcome and address your most pressing business challenges, we can help.

The RevSherpas Solution

Over the course of our partnership, RevSherpas will educate, empower, and enable you to increase staff productivity, which will boost employee engagement and maximize client focus.

Then, we’ll advise and coach you on how to implement more effective marketing campaigns, generate all the leads you can handle, and simplify and standardize your sales process to close more deals.

By delivering a smoother and more satisfying prospect and customer experience with enhanced service levels, you’ll find it easier to distinguish yourself from competitors, deepen client loyalty, and expand wallet share with more cross-sell and upsells to ultimately accelerate revenue growth.  

Are you ready to DOUBLE (or even TRIPLE) REVENUES, and CREATE STEADY, PREDICTABLE CASH FLOW…quickly, inexpensively, and with less effort?

Next Steps to Go Next Level

Imagine having a comprehensive, proven blueprint to grow and scale faster and EXPONENTIALLY OUTPERFORM IN ANY ECONOMY!

Isn’t it finally time to get unstuck and make a change in your life and business to reach your full potential and improve business performance while gaining more control of your time and significantly reducing your stress?

Our proven business growth expertise, in-depth customer-focused actionable insights, marketing creativity, sales enablement savvy, and intense drive and dedication to your success can help kickstart your revitalization and quickly pivot to make your dream of further building, systematizing, and expanding your own multi-million dollar business a reality.

Let’s ELEVATE YOUR BUSINESS or PRACTICE to the NEXT LEVEL!

Call (800)569-1374 or send an email to hello@RevSherpas.com to request a free initial consultation and business development strategy session.

Let’s get started and make it happen TODAY!

Houston-Based RevSherpas LLC Announces New Strategic Consultancy for Small Business Owners

Global CRM strategic advisor and author launches boutique customer experience management consulting agency to aid in the adaptation of more remote business operations

HOUSTON, Texas, May 20, 2020 (SEND2PRESS NEWSWIRE) — As many small businesses face uncertainty surrounding restructuring and are being forced into new operating paradigms like remote commerce, one consulting firm has launched to fill the desperate need of a revenue growth acceleration strategic advisor.

As a new consulting and coaching agency, RevSherpas LLC aims to assist business owners by utilizing their deep experience in strategic customer relationship management (“CRM”) and customer experience (“CX”) transformation to deepen client loyalty and elevate business performance.  The Houston-based agency is now offering consultations and services through remote servicing via phone, video conferencing, and screen shares. Unlike other generalist consulting firms, all service offerings specialize in advancing the customer experience and CRM systems and processes for companies.

Founder Kevin Wessels leads the company with 10+ years of strategic sales and marketing consulting experience. His expertise focuses on accelerating revenue growth and optimizing cash flow for business owners via customer engagement strategies and tactics in client attraction, acquisition, retention, and reactivation. Proficient in Spanish, he is also uniquely qualified to serve a vast array of clients with unique customer bases.

We specialize in helping business owners or sales and marketing executives overcome the myriad challenges currently presenting themselves during this COVID-19 epidemic,” states company founder Kevin Wessels. “Our mission of being client-focused is something we stand by.”

He adds, “Not a day goes by without small businesses closing and global brands adjusting their future quarterly – even annual earnings forecasts significantly down due to widespread supply chain disruptions and dampening customer demand. We have the tools in place to address these challenges head on.”

RevSherpas’ goal is to support business owners and marketing executives who need to overcome the specific challenges presenting themselves in the wake of the current pandemic. They help their clients achieve the aforementioned benefits in order for their companies to be sustainable, adaptive, and excel in a more remote environment.

About the Company:
RevSherpas LLC is a Houston, Texas-based boutique consulting agency focused on educating, empowering, and enabling small to mid-sized businesses to exponentially outperform in any economy, transform from industry laggards to leaders, and dominate their competition. The company’s customer experience consulting and business elevation coaching services accelerate revenue growth and increase client retention for business owners, CMOs, and CIOs throughout the US, Canada, and Latin America.

For more information regarding RevSherpas, please contact Founder & Managing Director, Kevin Wessels directly at 1-800-569-1374 or via email at kevin@revsherpas.com.

To learn more about the company and the remote consulting services being offered, please visit https://revsherpas.com for more details.

Franchise Prototype 101

In our  last post we talked about the first three of the seven specific areas you need to consider in your franchise prototype process. As a refresher, here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

These seven pillars form the foundation for the growth and ongoing success of your business. Now, we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. Yet, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Management Strategy
The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that includes goals, rules, a mission statement and other concrete guiding principles that tell your employees how to act, your management how to grow your business, and your customers/clients what to expect. These should all be in perfect alignment with your business goals.

People Strategy
You need to put together a people or “employee appreciation” strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which, in turn, leads to better production and a happier workplace.  There are a number of strategies you can use to keep work interesting and to heighten and maintain employee engagement:

  • Short-term Performance Reward Contests
  • Long-term Performance Incentive Programs
  • Employee of the Month
  • Performance/Holiday Bonuses

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded.  Think about it for a while and put the best idea into play. Keep it fresh and change up the reward and recognition program you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.  You need to build a community within your company. There needs to be support, appreciation and respect. The more “at home” an employee feels, the better they will perform and the more loyalty they’ll have.

Marketing Strategy
Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two major components of a successful marketing strategy:  1) the demographic profiles and 2) psychographic profiles of your customers.  The psychographic tells you what your customers are most likely to buy and the demographic tells you who they are, which can help you learn why they buy specific items. Without this information, it simply doesn’t matter how good your business prototype is.

Systems Strategy
There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

Hard systems refer to inanimate system or systems that have no “life”, such as computers, in-house servers, storage devices, or other capital equipment.  Soft systems are those that could be living. Information systems which are, of course, everything else, including customer data, product information, financial…anything with data and numbers.

The most important of all three systems is the soft systems because it includes the sales and training systems your business uses. In your sales system the two keys to success are: structure and substance. Structure being what you sell and substance being how you sell it.

All three systems are essential to the success of your business.  While they all have their own very specific roles, they all must work together to get the job done. This also goes for your entire business development program.

On that note, I want to take a moment to recap the main themes we’ve covered in the recent business development lessons from our blog.

First, we explored the entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

  • Desire
  • Some capital
  • A projected targeted profit

Next, we covered the essential three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

Then, we highlighted the four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

Also, we illuminated the three core concepts of the franchise model, if you are considering that path to expand your business:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

Additionally, we addressed the three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

Lastly, we specified the seven areas you need to consider in your franchise prototype process:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

We can help you define, design, develop, and deploy the appropriate business model and business development strategy and processes to turbocharge your business and leapfrog your competition. Please contact us to learn more about how our innovative, proven e-Marketing platform and business elevation coaching services can take your business to the next level.

Are You Crystal Clear On Your Aim?

To recap from our last blog, the seven specific areas you need to consider in your franchise prototype process are:

  1. Primary Aim
  2. Strategic Objectives
  3. Organizational Strategy
  4. Management Strategy
  5. People Strategy
  6. Marketing Strategy
  7. Systems Strategy

In today’s lesson, we are going to cover the first three areas, which will lay the foundation for your business to achieve the ultimate pinnacle of success.

Primary Aim
It’s essential in business development to set goals and see a vision for the future. This needs to go beyond the business and you need to think about what you want out of life.

What do you dream about? How do you see your success unfolding?

Knowing and understanding these things will give you the momentum to get started on your entrepreneur journey and the stamina to see it through. Even take a minute to write them down and tape them to your desk for a constant reminder of what you’re aiming for.

Strategic Objectives
These are essential in taking your business from surviving to thriving. All of these objectives should offer solutions for how to get to your primary aim. There are many things you can use to set strategic objectives, but here are a couple of the most popular:

  • Money:  Setting monetary goals is a great, simple way to see how you are doing at any point in the game. It’s easy to measure and easy to find adjustments to help meet this goal.
  • Worthy Opportunities:  When considering strategic partnerships and other business opportunities you need to think about whether or not they will help you reach your primary aim. Those that will are the best opportunities to seriously consider.

The key in setting standards and goals is not to limit you or stress yourself out. You need to find some quantifiable things you can use to measure your progress toward your primary aim. These are just two suggestions, but make sure no matter what standards you set that you are paying attention to the details, as these form the backbone and blueprint to your master growth plans and they are one of the biggest keys to your success.

Organizational Strategy
The strength of your organizational structure can make or break your business, so it’s important to take the time to put together a solid structure for your business to grow from. Generally, a company is organized around the roles and responsibilities that need to be taken care of on a daily basis and the personalities that need to fulfill those roles.

No matter what roles and responsibilities you’ve defined for your employees, you must always keep your personal primary aim separate from your company’s primary aim or mission statement. Once you’ve identified the primary aim for your company, it will be easy to set up a team position structure or organizational hierarchy that will work.

Don’t forget to put together position contracts. Your employees should sign a statement of their roles and responsibilities. This helps keep the division of labor clear for you, the employee and other employees/vendors or other individuals, instills accountability, and eliminates redundant, duplicate efforts to maximize team collaboration.

You can see how these areas all work together to form a solid foundation on which to build your business. If you need help defining any of these areas, you can check out the business building resources and tools of our client attraction e-Marketing system and speak with one of our revenue growth acceleration and customer experience strategists today.

Solidify Your Foundation And Soar

Today I’d like to talk about the three keys to business development and how you can put the right bricks in place to build a solid foundation.

There are three main areas of business development:

  1. Innovation
  2. Quantification
  3. Orchestration

If done well, these three areas will help you build a solid foundation for you business.

Let’s talk about each one of these for just a minute.

Innovation
Innovation should not be confused with creativity, which is the expression of ideas.  Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be in the beginning and even throughout your business’ entire lifespan.

Quantification
This, of course, refers to the numbers. We are talking about the value of your innovation. The best way to gauge this is by your customer response. Look to positive responses for what you are doing right and keep doing it. Look to your negative responses to find out what you’re doing wrong and fix it. This will enable you to keep growing and progressing with the needs of your customers and business climate.

Orchestration
Once you’ve had a chance to find what areas are working, you can narrow down those areas and concentrate on making them the stand out ideas. You shift your focus here to get the most out of your business and to meet the needs of your customers.

We can help you work through these three areas to put together your franchise prototype.  In fact, in the next few lessons we are going to transition to the seven specific areas you need to consider in your franchise prototype process:

  1. Primary Aim
  2. Strategic Objectives
  3. Organizational Strategy
  4. Management Strategy
  5. People Strategy
  6. Marketing Strategy
  7. Systems Strategy

These seven areas will accelerate your plan to achieve the ultimate level of success.  Stay tuned!

To Supersize, First Systematize

The biggest area of turn-key businesses is franchise. There is a franchise for every industry in the world.  Plus, they are fairly easy to acquire and come with practically a pop out of the box pre-assembled system. McDonald’s is a prime example. In fact, a “supersized” example with $136 billion in market cap as of April 24, 2020.

Today, there are a few topics we’ll explore:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

Business Format Franchise
The business format franchise came from an earlier model called the “trade name” franchise. The big change was in the rights. During the “trade name” days, the franchise owner only had marketing rights.  Now, however, franchise owners have owning rights to the entire business, including systems. This has allowed for a shift in focus from the past in which the quality and name recognition of the products primarily carried the business compared to today in which standard operating procedures and repeatable processes, such as sales operating models and techniques, also drive the business.

The Franchise Prototype
It was really the franchise prototypes that allowed for the changes to be made that help today’s franchises really shine with the techniques developed by the owners instead of the corporation. This can make a significant difference in the success of the franchise, as the owner can custom tailor their marketing and promotions to the direct needs of their
local target customers.

Franchise Prototype Standards
Now, the above being said, no one in their right mind would purchase a franchise if the parent company didn’t have a solid plan of action set up to ensure the future success of the business. Below are a few foundational standards that are put into place to help jump start the process of opening a successful franchise:

  1. Build a user-friendly model that can be used by individuals of any skill set.
  2. Build a defect-free model.
  3. Build a model with operations manuals.
  4. Build a model that will provide guaranteed, consistent results.
  5. Build a model that encompasses the same branding in color, dress, and facilities
    codes.

These are all ways the parent corporation makes sure its brand stays the same and consistently in front of the minds of customers. When you are purchasing a widely-known brand, you will attract customers just for being you.

If you are considering purchasing a franchise, talk with one of our experienced business coaches to further explore your options and incorporate the proven perspective of an independent third-party business development expert to your due diligence evaluation.  I look forward to connecting soon and showcasing further how our proven “5 Step Profit Formula” and revenue growth acceleration strategies will make your dream of building, systematizing, and expanding your own multimillion-dollar business a reality!