12 great tips for building your business

To succeed in business today, you need to be flexible and have good planning and organisational skills. Many people start a business thinking that they'll turn on their computers or open their doors and start making money, only to find that making money in a business is much more difficult than they thought. You can avoid this in your business ventures by taking your time and planning out all the necessary steps you need to achieve success.

1. Get Organised
To be successful in business you need to be organised. Organisation will help you complete tasks and stay on top of things to be done. A good way to do this is to create a to-do list each day. As you complete each item, check it off your list. This will ensure that you're not forgetting anything and you're completing all the tasks that are essential to the survival of your business.

2. Keep Detailed Records
All successful businesses keep detailed records. By keeping detailed records, you'll know where the business stands financially and what potential challenges you could be facing. Just knowing this gives you time to create strategies to overcome those challenges.

3. Analyse Your Competition
Competition breeds the best results. To be successful, you can't be afraid to study and learn from your competitors. After all, they may be doing something right that you can implement in your business to make more money.

4. Understand the Risks and Rewards
The key to being successful is taking calculated risks to help your business grow. A good question to ask is "What's the downside?" If you can answer this question, then you know what the worst-case scenario is. This knowledge will allow you to take the kinds of calculated risks that can generate tremendous rewards.

5. Be Creative / Work smarter
Always be looking for ways to improve your business and to make it stand out from the competition. Recognise that you don't know everything and be open to new ideas and new approaches to your business.

6. Stay Focused
The old saying that "Rome was not built in a day" applies here. Just because you open a business doesn't mean that you're going to immediately start making money. It takes time to let people know who you are, so stay focused on achieving your short-term goals.

7. Prepare to Make Sacrifices
The lead-up to starting a business is hard work, but after you open your doors, your work has just begun. In many cases, you have to put in more time than you would if you were working for someone else. In turn, you have to make sacrifices, such as spending less time with family and friends in order to be successful. NB: This will change when you have things where you want them or you bring in staff you can trust - but this takes time.

8. Provide Great Service
There are many successful businesses that forget that providing great customer service is important. If you provide better service for your customers, they'll be more inclined to come to you the next time they need something instead of going to your competition.

9. Be Consistent
Consistency is a key component to making money in business. You have to consistently keep doing the things necessary to be successful day in and day out. This will create long-term positive habits that will help you make money over the long term.

10.  Build your network and work collectively.
Grow your personal business network and start working with businesses you would recommend.  The bigger the network the better the marketing leverage you can create.  This will attract more 'great' businesses and more 'great' customers that visit your network to find the products and services they need.

11. Build an advisory team.
Start by finding a great coach, someone you get on with and trust.  Then build or join a business mastermind group that is focused on helping each other succeed.  You do not have to build your business by yourself, use the collective power of your Coach and Mastermind team to help you build a solid business quickly, by sharing good information about what works and what does not work.

12. Join Kapiti Now

 

 

Tony Cutting
Business Coach
021 911 722