10 steps to build a better business
10 steps to build a better business
If you are tired of being stuck in the same routine, not really making any progress within your business, then take a look at these ten steps to building a better business and implement change today!
1. Know what you want
To get what you want, you need to know what you want. This may sound obvious, but you really need to be clear about exactly what it is you want so you can take the right actions to get it. Having a vague want for success is common, but to really succeed, you need a clear vision. Start today by writing down some specific goals and visualise what it will look, feel, and sound like to achieve success. Make sure the goals are tangible and measurable – take a look at our blog on setting achievable goals here to help you get started.
2. Be open to change and learning new skills
Nothing will get better if you keep doing the same things over and over again. If you think you know it all and you are doing everything possible, but your business isn’t heading in the direction you want, then how is there any hope? You need to be open to learning new things, new ideas and to making big changes to your business and your daily routine. To change your business, you need to change your mindset and your behaviours. Use your time researching and learning new things and keep notes of new ideas which you can implement to succeed in your business. Being defensive and closed minded will get you nowhere. Admit you don’t know it all, open your mind, and reap the rewards!
3. Where are you now?
So now that you know where you want to be, you need to have a think about where you are now. Just like plotting a route on a map, you need to know your starting point in order to know how to reach your destination. Think of important measures of success and record where you are now. Look at what you said you wanted and compare where you are now with that. This will help with the next stage: deciding the actions to take to get what you want. It’s important at this stage to be completely honest with yourself about the stage you are at. There’s absolutely no point in exaggerating any figures. Look at what’s going well so you can do more of it, look at what’s not going well, so you can make changes. Be honest about your vulnerabilities and you will be able to change them.
4. PLAN
To succeed to you must plan. Creating a business plan will help you reach your goals. We recommend keeping it simple. Have a maximum of four goals and keep it to one page. You need to make sure your plan is linked to both your business and personal goals and you can decide the actions you will take to reach those goals. For reasons why you should have a business plan, read our blog here.
5. Structure your business
This step is about getting the right people in the right positions. You need to ensure you have the most efficient person doing each job. It’s important that it is clear who is responsible for what within the business. Every business has 10 departments. In some businesses the same person will hold many different positions, some businesses will have a different person for each, and in other businesses some of the departments will be outsourced. It’s important that the business has a structure that works and will help your business grow.
The 10 departments, sometimes known as “the 10 hats”, in a business are:
- Shareholder
- Director
- Leadership
- Product/service development
- Operations
- Marketing
- Sales
- Finance
- HR
- Admin/IT
You need to ensure that each department has only one leader and that all roles have a clear description and KPIs to measure success.
For more info on getting the structure of your business right, look out for our seminars, and also enquire with us about an organisational review session!
6. Be a good leader and strengthen your business’s culture
Again, you need to be honest with yourself about where your weaknesses lie. Does your business have a strong culture? Do you trust your team? Do they trust you? It is also important to have a strong set of values that you, you team, and your business as a whole lives by them. Think about your business’s core values and explore them with your team. Once you are sure of them, work together to ensure everyone embodies them. For some more information on identifying your core values, take a look at our blog here, and if you need some extra support we provide a core values development workshop!
7. Get someone to hold you accountable
Its great to have a plan in place and to know that you have the right people in the right positions within your business. However, to ensure that you reach your goals, it’s important to have someone independent to hold you accountable. Just like having a personal trainer at the gym increases your chances of reaching your fitness goals, having someone to support you and your business vastly increases your chances of reaching your business goals. To help you decide who is the best person to hold you accountable, we’ve written a blog outlining the pros and cons of different choices!
8. Build a network
Surround yourself with other business owners. Think about business owners you know that provide services that could compliment yours and help your clients. Giving referrals shows your clients that you want to help and also means that those who you have referred to your client are likely to suggest your name when they hear of someone looking for your type of service. Having a strong network will really support the growth of your business. Think about attending networking events or groups that business owners in your target market are also likely to attend. Go where they go. Keep an eye out for upcoming group events and programmes which Rosslyn Associates will be organising in the near future!
9. Measure your progress
If you don’t measure your progress, you won’t see clearly how well you are doing. Knowing your Key Performance Indicators and measuring them regularly will keep you on track and show you your progress. Think of your KPIs like a car dashboard, what are the three to five most important things in your business that you should be keeping an eye on?
10. Do things that make you happy
Having a positive mindset will help you achieve business success. Make time to do things that make you feel good. Put some time aside each day and do something you enjoy doing, without allowing yourself to worry that you are wasting time and don’t feel guilty about it. Spending time doing things that make you feel good will help you achieve your goals, so see it like a task like any other. Make a list of the things you enjoy doing and spend at least an hour a day doing them.
How we can help you build a better business
Rosslyn Associates provide quality accountancy and tax services for businesses. We also provide business development and coaching services for growing businesses. We provide a wide range of services, from core values development, monthly/quarterly coaching, cashflow management, and many more, you can see our full list of services on our website, here. We offer an initial, complimentary, no-obligation Pro Active Accounting meeting to business owners who are interested in growing their businesses, you can find out more here. If you’d like to have a chat about how we could work together so you can build a better business and make more money, save time, and live a better quality of life, get in touch! You can book a 15 minute discover call here, you can email info@rosslynassociates.co.uk, or call the office on 0131 445 1825.
Also look out for our upcoming seminars! We host one seminar every month, previous seminars have included “7 ways to grow your business” and “Cashflow Management”, other topics will include “Build a Better Business”, which this blog is based upon, and “The Three Essential Tools for Business”. You can see past events, and what’s coming up here, and if you sign up to our newsletter, here, you will be alerted to any upcoming events and receive discounted tickets!
