Archive for November, 2017

Phases of Your Business Journey

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I’d love to be able to tell you that there are set of linear and finite phases that every small business owner goes through while you’re rethinking and redesigning your business model…

…but if I told you that, it would be a lie.

But there are some well known phases that you might go through, sometimes circling back to one you thought you already finished, and skipping others completely. Here is a short list of some of the signposts you’ll encounter on the road to redesigning your business model:

  • I know/feel something needs to change – You find yourself pausing in the middle of the day (or worse, in the middle of the night) and asking, “Is this the business I want? Is there untapped potential in me that’s striving to get out? What’s next for me?” People report feeling restless or frustrated, knowing deep in their heart and mind that the business needs a shake-up, a new way of being in the world.
  • Getting lost in the not-knowingness – This is one of the toughest phases in business redesign, because you have to be okay with not having the solution. Some spiritual teachers call this not-knowingness “the grace of mystery.” Puts a different spin on it, doesn’t it?
  • Finding clarity on goals – If you spend time tapping into your goals for your business, and for yourself personally, you’ll find that it’s easier in the next phases to explore and choose the right business model for you. Is there a particular problem you need to solve? A particular dream you’d like to achieve? Values you’d like to express into the world?
  • Exploring the possibilities – In this idea-generation phase you explore every aspect of your existing business model, looking for places to add, modify and discard. No idea is sacred and no idea is thrown away. Even the craziest of ideas can be a springboard to a new business model. Creativity and innovative thinking are crucial keys during this phase.
  • Making a road map – This is where you design your new business and marketing model, keeping what still fits from your old model and mixing in the new ideas you’ve generated. This is also where you create your transition plan and map out where and when changes will take place, and what resources you’ll need to make it happen.
  • Taking the journey – Implementing your business model changes can happen in a week or it can be a two-year process, depending on how complex the changes are and how many resources you have at your disposal. This is often a journey through the weeds and can be rough going. Why? Because you have to continue to run your existing business (unless you’re independently wealthy!) while creating your new business at the same time. Managing change can feel like a juggling act, and I’ll talk more about it in future posts.

Where are you on the path to rethinking and redesigning your business? I’d love to hear your story, so join me in the comments below!

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Category: Rethinking Your Business
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10 Things To Do When Business Slows Down Over the Holidays

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I’m sure you’ve seen it happen every year: your business slows down during predictable times, like the summertime months or the holiday period at the end of the year.

For the self-employed who rely upon steady cash flow, this can be a disconcerting time. Should you just take a time off until things naturally pick up again? Or should you try to find the needle-in-the-haystack business that might be out there during slow times?

This year, vow to be different! Instead of languishing in no-business-never-land, get off your butt and do something to build the foundation of your business so that natural business cycles don’t affect you too deeply:

  1. Clean your office. Go through all the piles of papers and magazines that have been sitting around and get rid of them once and for all. Remember the office organizing mantra: do it, ditch it or delegate it. File all your papers, dust and vacuum your office. Reorganize your desk and your office so that you can find everything you need in 60 seconds or less.
  2. Take a mini-break from work. Walk away from your office and enjoy a day or two of renewal and relaxation. Go to a day spa. Take a weekend retreat. Go for a walk in the local park. Breathe.
  3. Get ready for tax season. If your business slows down during December, no worries! Use that time to prepare your tax files so that you can whiz through tax season (it’s coming sooner than you expect!). Tally business-related mileage for year. Estimate your last tax payment for the current year (many self-employed people make quarterly estimated tax payments; the final payment is usually due on January 15). Send your final invoices for the current year.
  4. Send business holiday cards and gifts. If the slow time falls around the holidays, use them to your advantage. Get into the holiday spirit with your clients by mailing holiday cards and gifts to them. Make specially-discounted holiday offers to clients/customers. Offer them gift certificates that they can give to their family and friends for your services and products.
  5. Do your accounting and bookkeeping. Enter all revenue and expenses into your recordkeeping system. Balance your checkbook. Set your budget and revenue goals for next year.
  6. Become goal-oriented. Take this down-time to look at your current goals, to see how you’re doing so far and to write some new goals for the next 12 months. Create an updated marketing plan and budget. Make sure your budget includes a cash reserve to cover you during slow business times. Even if this business slow time falls mid-year, you can still spend time planning for the next 12-24 months.
  7. Go back to school. List the topics you’d like to study, the classes you’d like to take, or the books you’d like to read, to keep you up-to-date with your industry and business skills. Use your quiet business times to read, study and add to your intelligence pool.
  8. Get some personal chores done. Slow business times are ideal to schedule your annual dental and eye exams. It’s also a great time to clean out the attic, garage or basement. Remember, a strong personal foundation helps to propel your business forward.
  9. Go shopping. No, not for personal items (though that’s always fun!), but for business items. Have you been putting off buying a new PC, laptop or tablet? Now’s the time to research what’s out there and determine your next computer purchase. Is your office chair uncomfortable? Spend some time at office furniture stores “butt-testing” for a quality office chair that will support you properly. Stock up your office supplies. Buy some music to play in your office to inspire you. Invest in that software system you’ve been eyeing.
  10. Spend time with family and friends. When business is busy, it’s easy to sequester yourself away to get all that work done. Now that business is slow, come out of your cocoon and visit with family and friends. They’ve been wondering where you’ve disappeared to!

As you can see, slow business times can be used productively to prepare you for the next burst of business coming your way. Renew your business, your office, your Self, and create a firm foundation for the busy business days ahead! Always ask yourself, “How can I use these days wisely?”

Will you be doing anything for your business during the holidays? I’m looking forward to the “quiet” week between Christmas and New Years Day, when I’ll be working on a new class design. 🙂

 

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Category: Business Strategy & Planning
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Motivational Minute: Your Eyes Will Adjust with Iyanla Vanzant

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http://www.youtube.com/watch?v=gLZi9aesxqw

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Category: Running a Strong & Efficient Business

Giving Your Best to Your Customers

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Give your bestIn the small business world, where practically everyone is time-constrained, it’s sometimes difficult to give your best to every customer, every project, every task. This is what I discovered over the years: that giving your best to everything you do is so important that there’s rarely an excuse for not reaching for your highest potential.

The problem seems to come into play with competing values: you value your customers but you also value time with your children; you value creating a great service or product but you also value getting it done and moving onto something new.

I don’t believe multi-tasking is the answer. Instead, study yourself and ask yourself, “What are the things that are the most important to me in my life and business?”

By the way, there is no perfect answer to this question, and the things you value can be a moving target based on goals and events. If your child is in the hospital, then your business may take a back seat for a while. If you’re really excited about a new service or product you’re creating, you may choose to work weekends in order to bring it to fruition. If money is tight you may choose to do some parts of your project or marketing as inexpensively as possible.

Once you consciously decide what’s of most value to you, then go ahead and give it your very, very best. Don’t skimp and cut corners. Push yourself to be excellent in those areas that are important to you. It’s okay to make mistakes in your pursuit of excellence, as long as you attempt to correct them (or at least learn from them!)

As Nora Roberts says, “Flaws are acceptable, even necessary, to make us human and humble. But to serve a guest or a customer less than the best one is capable of, strikes me as arrogant or sloppy. Often both.”

The only trap you need to avoid is the one where you want to give your best to every single person you encounter, to every single task you do. Give yourself a break from perfectionism and make a choice to give your very best only to those things that are high on your “Things I Value” list. Things that are unimportant should be dealt with quickly so that you can focus your time, attention and passion on the things that need your best work.

Your customers deserve your very best efforts and they’ll greatly appreciate it. And when they’re happy, they’re more likely to tell others about your quality products and services.

I figure it this way: a good reputation is something to value highly and work towards. Doing my best brings me joy and satisfaction. Doing better than my best, continually growing and challenging myself, is one of the main reasons I’m self-employed. Is it one of your values, too?

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Category: Managing Projects, Tasks & Time
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