Starting and running a successful small business takes time, energy, money and COMMMITTMENT. But the rewards can also be HUGE. Personal satisfaction. Glory. Happiness. Money. It can all be yours. As an entrepreneur, how committed are you?
10 questions to help you find out:
1) Have you taken the time to write out a thorough business plan?
A well thought out business plan is the first step to the success of it. It does not have to be a formal document. But it should outline your goals, and how you plan to achieve those goals. Think of it as blueprint. How will the business look like?
2) Have you taken the time to write out a thorough marketing plan?
Similar to the business plan, you need a blueprint of marketing. Think of the marketing as the color in your blueprint. Marketing brings life into the business. Better marketing means more sales, which means more money, which means more success. Marketing will help enable you to be laser-focused so you'll get the results you want.
3) Have you committed enough financial resources to your business?
You have to be willing to have some skin in the game if you want it to succeed. It doesn't have to be a large sum of money, simply enough to accomplish the goals you've set in your business, and build from there.
4) Are you willing to invest in yourself?
This is the tough part new entrepreneurs might cringe at. Yes, you have to learn a lot. Grow yourself and your business will thrive. Learn about personal development. From better professional relationships, leadership, time management, motivation, success techniques, etc. Take seminars. Get a coach. Read books.
5) Are you willing to grow along with your business?
Similar to the last question, are you willing to learn more about business in general? The first one started with you. This question means spending time on the heavier stuff. Things like social media marketing, offline marketing, cash flow management, investments, negotiations, laws, taxes, etc. Hire the best and learn from them.
6) Do you seek advice from those are already successfully doing what you're trying to do?
Success leaves clues. It leaves footprints. Track the footprints of successful people and you'll be on the path to success as well. There's no need to reinvent the wheel. Find out who has what you want and model them. Pick their brains.
7) Did you assemble a team?
Trying to do everything on your own will leave you burnt out and discouraged. Building a business is a team sport.
8) Are there systems in place in your business?
All successful businesses have automated or step by step systems in place that allow for routine actions to be repeated over and over again, to assure the same results. This also makes sure the business does not rely entirely on you for its success.
9) Do you take notes on everything you do?
It doesn't have to be written but it’s preferred. Every time you make an adjustment in how you run your business, take note it so you know if that adjustment is making your business more successful. Also, if in those "out of the blue" inspiring moments hits you write it down. Applying your new idea can get you that much closer.
10) Are you willing to be truthful and make changes if it's not working?
The definition of insanity is doing the same things over and over again expecting different results. If it doesn't work, try something else. Simple, right?
Being in business is a learning experience and one that requires constant fine-tuning.
Here is awesome formula for the success committed entrepreneur: Plan+ Action + Evaluate + Fine-tune, then repeat equals success.
Plan what you’re going to do
Take action from that plan
Evaluate what's working and what's not working
Fine tune to get the results
Repeat to be more successful
Now you got through the 10 questions, did you pass? If not, go back and start committing yourself to doing them. Have fun.