Maximize Your Business Momentum
When the new year starts rolling around, everyone gets eager to set new goals, review the past year, and reinvent their businesses. It’s not a bad thing, but it might not be a good thing to try to reinvent the wheel for the new year. Yes, goal setting and measuring milestones are important to tracking progress, but abandoning strategies or plans for a shiny new objective in the new year won’t help. It’s better to look at what went right and how you can double down on that.
This does not mean ignoring red flags and repeating old mistakes. The first part of goal setting and optimizing processes is understanding what went wrong. However, if you saw a spike in sales for one product, then you say an increase in demand for it. Build on that demand in the new year. If you saw a need for a solution to a problem, then work towards orienting your business to fulfill this need. Expanding your offerings by doubling down on your strong points will help cement you as an industry expert and leader.
Of course, this gets tricky because consumers want to experience new things. They also want new things that work and companies can’t keep pumping out services or products in one niche. However, change the format of your offering. Expanding into adjacent offerings is a great way to stay in the niches that you are successful in while slowly expanding your audience. Diversifying your business this way is much more organic than randomly jumping around looking for a new niche.
Even if there is a little bit of traction, your business can grow.
Carefully crafting a strategy is essential to creating successful results, but if the focus is on getting things perfect next time, then your business will find itself in a state of inertia. While planning is important, it’s also important to remove excess steps that get between dreaming and doing. It’s easy to get caught up in getting things right, but in the end, nothing gets done. Don’t let that be what kills your momentum. When you see traction in one direction, this is when you should pick up speed in that direction.
Another killer of businesses is the inconsistency when implementing systems. Constantly looking around and changing your direction isn’t helpful because you are not giving yourself space to develop any ideas. Starting, stop, and then pivoting for no good reason will create stagnation because you are hitting the reset button far too often. This type of “hop-and-drop” pacing will hurt your business because there aren’t enough quick returns.
Truly, it doesn’t come down to commitment and discipline. As with anything, mastering your business and building something that lasts comes with taking the time to lay a strong foundation. The tenets of building an evergreen business are simple, but the practice must be consistent and strategic.
Create a unique user experience on your website.
It's the simplest way to get your message across.
Stay In The Know
Should you be paying for time, expertise, or both? It’s easy to look at something and underestimate the amount of resources (whether they are financial, skill-based, etc.) it takes to complete a project. From time-to-time, there will be a need to outsource work for your business. Outside expertise gives businesses the opportunity to gain insight into their operation that would not be found in-house. This could be for a variety of reasons, for example, having a small team, an absence of expertise in one area, or pivoting into a direction that requires external assistance.Read More
No one is an expert at anything because there is always more to learn. That’s the norm with most tasks; it certainly is that way with business. Yet many who endeavor to start their own ventures, and even those who have entrepreneurs for a while, feel like their shortcomings define them. Because enough isn’t ever really enough. At first, this seems like a great motivator to strive to be the best and hit new targets, but eventually, this backfires.Read More
Growing up, we see high achievers and the overzealous be rewarded for always striving to break down barriers. This goes for academia, athletics, or even in the arts. It’s admirable and commands a high level of reverence because it takes a lot of hard work and dedication to create new standards. However, this can be detrimental to those who prioritize over-performing at tasks. The mental and physical burnout that comes with never being able to simply meet standards because they must be overcome is terrifying.Read More
So, you’re thinking of dipping your toes into entrepreneurship, but you’re not sure where to start? That’s fine. There are tons of ways anyone with limited business knowledge can get started. Apart from the constant flow of resources online, business starts with finding a market and delivering a product to them. Aspiring entrepreneurs can be overwhelmed by the sheer volume of concepts and principles on what they should and shouldn’t do.Read More
Money does grow on trees and it certainly doesn’t magically appear in your bank account. Being productive at work, whether it’s at your job or in your own business, is more than ticking boxes off your to-do list. Being efficient is about hitting your goals, and, for everyone, financial goals are important. Always keep ambitious goals. You can be ambitious and realistic, after all, your reality is what you make it.Read More
Nothing gets someone fired up like external pressure. If there is a mounting deadline, a stressful work environment, or just tension surrounding a project, the fight-or-flight mode is activated, and then snap decisions are made. But they don’t always feel good, do they? Making decisions because you have to, when the circumstances are dire, leaves a bitter taste because it is fear-based. You need to get something done, so you just move ahead.Read More