Most people who go into business focus on the work they have to do in order to bring in the income they need. However, the most successful entrepreneurs and business owners focus on how their business works to make their profits, instead of the work itself. Why is that? What do they know that most people starting out in business don’t know? Well, if you want to grow your business and make the profits you desire, here are 5 little-known factors that could affect your business, so you can live the dream you envisioned.
Factor #1: Work On Your Business More Than In It
When a successful entrepreneur wakes up in the morning, they ask themselves this question: “How must this business work?” They’re not focused on doing business in their company. The bulk of their concentration is on building their business:
- How their customers perceive it
- How it gains repeat and loyal customers, and
- Is it doing what it was projected to do?
I know that, when you’re first starting out, you have to work in your business. But, at the same time, you must set aside time to work on your business as well or you’ll end up working yourself to death. And I know you don’t want that.
Factor #2: See Your Business As A System
Most people see their business as a place where employees work to turn out results, so the owner can produce income. Operating with that mindset is the reason most businesses fail.
You need to create systems within your business that will produce the desired results for your customer, resulting in profits. Let the systems run the business and have your people run the systems.
Factor #3: Start With The End In Mind
If you want effective growth, then take a look at the vision for your company. This should be your picture of a well-defined future. Now start intentionally changing your present to match your vision. By doing this little-known factor, you can look forward to the future with hope.
Factor #4: Look At Your Business From The Top Down
You must visualize your business in its entirely. What should it look like when it is completely finished? It is from that perspective that you create a network of seamlessly integrated processes and systems that supports what and how you perceive your business. Each of which, are to produce your intended results.
This little-known factor can really elevate your business.
Factor #5: Model Your Business In the Manner of Your Vision
Dr. Buddy Crum, author of “Much More Than a Job,” teaches entrepreneurs that you constantly go up to 40,000 feet and take a look at your business. Then come back down to see if your processes and people are in alignment with your vision. What you do in the present, must model your business’s vision for the future.
You need to set a standard for your business. It should operate according to the expressed rules and principles you put in place. Measure each step to be sure you’re on the right track.
What you don’t want to do, is confined your business predominantly to the work being done. If you do this, you will, unintentionally, be viewed as being oppressive and domineering. Work will become nerve-wracking and your business will seem closed off from the larger world outside.
Entrepreneurs that focus primarily on the work they feel needs to get done or the doors will close, generally fail because they take steps that leads them only to the next step which is nothing more than a replica of the one before it.
Their employees get stuck in a boring, oppressive routine, and the owner sees no connection between the future of their business, where it is going and where it is now.
If you want to be a successful entrepreneur and grow your business, then make sure you work on your business more than in it. See your business as a system that will produce desired results. Take a look at the vision for your company and start intentionally changing your present to match your vision. And visualize your business in its entirely. These are the 5 little-known factors that could affect your business in a very positive way.