10 TIPS TO MOVE YOUR BUSINESS FROM MEDIOCRE TO GREAT

copied from: http://eleanorannbrownell.com/10-tips-to-move-your-business-from-mediocre-to-great

10 TIPS TO MOVE YOUR BUSINESS FROM MEDIOCRE TO GREAT

1. WRITE A STRONG BUSINESS PLAN: Plan. Plan. Plan. You can never plan enough for a business. You can never over prepare for your Business either. Develop and write a strong Business Plan. Include in your Business Plan: your Vision, Mission Statement, Name, Purpose, Goals and Actions, Customer Profile, Competitive Analysis, Financial Fitness and Economic Assessment. Think out your Business Plan carefully. Be as descriptive and as detail as possible. Make the formats tight and comprehensive. Build in flexibility to accomodate changes and add-ons as you grow your Business. Write your Business Plan as a well thought out blueprint.

2. THINK LIKE A CUSTOMER: Determine your Business niche and get to know well your customer mindset, need and issues. The narrower you can define your niche the better you can target your customers. Write a profile of your ideal customer. List your customers issues, needs and problems. Correlate how your Buisness products and services meet their needs and solve their problems. Pitch your marketing to your target customers and stay focused. The more you know your customer, the more targeted, cost effective and productive your marketing can be. Market to everyone in your target audience. Don’t get caught thinking if you build a business customers will come. Think like a customer and this customer mindset will serve you and your customers well.

3. KEEP A MARKETING EDGE: Set aside monies to invest in marketing. Market consistently your products, services and business to everyone. Marketing is important to a business and must be timely and consistent. Develop a multi-medium approach to Marketing. Remember to include: marketing strategies with action plans; marketing techniques with follow-up plans: on-line marketing with a target audience components; utilize an alternating combination of print marketing mediums and digital marketing mediums. Discern the best marketing mediums for your target customer and refresh them regularly. Marketing is consistently keeping your products, service and Business out there. Never feel ot think marketing costs too much. Try not to comprimise your image, reputation, product, service, quality or professionalism because of money. Develop a consumer mindset in your marketing. Always think ahead to your next marketing step. Write a plan that is creative and imaginative to build a strong presence for your products, services and Business in your marketplace.

4. SHAPE AND RE-SHAPE YOUR BUSINESS BLUEPRINT: Your business blueprint of goals and actions builds your business. . Write goals that are specific, measurable, achieveable, realistic and timely. Have a strong action plan for each goal which includes a follow-up plan as well. Your business goals and action plans help you minimize your business risk. Remember to adjust your action steps as you work your strategies. Think BIG, reach FAR and engage your creative imagination in develpoing your business strategies. Your business strategies enable you to achieve results and business success. Be flexible and allow your strategies to change as you grow your business. Keep adjusting your business blueprint to accomodate your changes.

5. BUILD A CASH RESERVE : If you are a new business owner estimate your start-up costs right up-front and deposit the cost in a cash reserve account. If you have been in business awhile, think about setting aside a 6-8 month Reserve for your business. As quickly as you can establish a Bank Reserve account in your Business name, do so. Practice contributing to it monthly. A substantial Reserve account will give you confidence as you start, build and run your buisness. Keep a mindset to hang in there in the good times and the slow times. Secure yourself with cash reserves in order not to be forced to give up your business because you lack back-up funds.

6. ENGAGE TOP NOTCH ADVISORS: Gather and build a cross-cultural expertise base as an Advisory Group for your business. An Advisory Group is invaluable to a Business Owner. Don’t think you have to do everything yourself, rely on the help of your Advisory Group. Advisors will encourage you to ask for help, expand your business know how and be there to support you. Invite a broad range of expertise to your Advisory Group to team and network with them. The expertise within your Advisory Group can make a real difference to you in knowledge, experience, advisement, support and enjoyment as you start, build and run your Business.

7. DO YOUR DUE DILLIGENCE ON COMPETITION: Know your competition inside and out. Competition is healthy but you want to do your due diligence. Study the products and services of your competitors. Build your products and services different and better. Keep tabs regularly on your competitors don’t get so caught up in your own business that you forget your due dilligence. Follow your competitors activities in packaging, pricing, marketing, services and community involvement.

8. UPDATE INTERIOR SYSTEMS: Keep abreast of new techniques, strategies, technology, practices and services in and for your chosen Business. Know your business sector well. Just as you keep your products and services innovative for the marketplace you need to keep your internal systems current in your workplace. Technology changes and current technologies become obselete quickly. Invest in your internal systems, update them regularly. Keep your employees current and up-to-date. Keep employee work loads manageble. Do not allow wasting time on obselecence. Keep your whole business team working on your business goal of selling your great products, services and Business. Results and profits are your Business goals. Don’t waste time on things that keep you and your employees from promoting and making profits.

9. LET INNOVATION FLOURISH: Open the door for creativity, imagination and let innovation flourish in your Business. Encourage employee creativity. Implement workable employee ideas. Create a comfortable work enviroment where employees imaginations reign. Don’t tell employees how to do things just tell them what you want and let them experiment, re-imagine and be adventurous in trying out new things to keep your business on the cutting edge. Encourage innovation in development, building, packaging and the presentation of your Business products and services.

10. WORK AT YOUR BEST: We are most our selves when we are at our BEST. Remain true to your self, your Core beliefs, values and ethics. This helps you to be at your BEST all of the time. Your attitude and actions reflect your beliefs and your beliefs direct your actions. A healthy sense of self always keeps you at the top of your game in the good times and the bad. Enjoy being and working at your BEST. Know your greatness, project an attitude of greatness and promote greatness in all areas of your business and your Business will be great!