This past weekend, I attended a personal development training led by a husband and wife team of multi-millionaires with multiple business assets constantly throwing off cash on their behalf.
I listened intently to what they had to share. One of their tips was to ‘release the breaks’. The supposition being that we’re actually doing things (or not doing things) that keeps the breaks on our business engaged.
I gleaned 7 steps from their talk on how to become a highly successful entrepreneur. Add these to your strategic planning and implementation activities and you’ll raise the revenue and profitability levels in your enterprise, even if it’s in its infancy. In fact, the sooner you apply these principles, the more easily you’ll reach your goals.
1. Zoom out
Take time to imagine the long-term vision of your company and your life. Really get in touch with your purpose on this planet and the impact you want to have. Think big. Think bigger than you think is possible. It’s hard to see all of your potential grandeur when you’re not yet there, but work at it and let your perspective expand to the greatest possible heights.
2. Zoom in
Once you’ve gotten clear about the big, bright future, reel yourself back to the present and identify what tiny (or not so tiny) steps you can take TODAY to start down the path toward your destination.
3. Organize
Identify the activities that seem to be generating the best results. Clarify which ones are working. Simplify your processes in order to minimize wasted efforts, resources and time. Unclutter your life and business. Focus on what matters most. Focus on what works the best.
Get rid of everything else that could distract you from reaching your goal
4. Actualize
Keep taking productive, consistent action. Keep moving forward. Things may not always turn out the way you expect. Learn along the way. Adjust and keep taking action
5. Monetize
Keep looking for revenue streams. Perhaps there are new markets to be tapped. New ways to deliver the products/services you already have. Partner with others to gain access to new prospects.
6. Can it and clone it
Once you have a business model that works, document it. Identify the processes (think McDonald’s). Keep them simple so it can be replicated. Replicate it.
7. Increase your reach
Visibility is critical for success. Look for ways to get in front of your ideal clients. Get referrals, advertise where they hang out, speak to them (individually or in groups) to demonstrate your expertise and value. Use marketing tools to carry the message farther. Get your product or service sean, heard and read about by as many people as possible.
Follow up with them. You’ve probably heard this advice before but are you doing it? The fortune is in the follow up. Follow up!
Implement these 7 steps and watch your business soar.
