I can’t take credit for the line I’ve paraphrased and used as a headline. The idea of distinguishing between working on your business and working in it should go to Michael Gerber the author of the E-Myth series of books. But it’s such a great concept and it was the first thing that popped into my head when I read this article from today’s USA Today.
In fact, this list of business tips compiled by Rhonda Abrams is something that should go in the front of every business leader’s daily planner if they want to consistently build their brand’s value. Ms. Abram’s elaborates on each point in a bit more detail, but let me summarize them for you here:
- Have an “elevator speech” that summarizes your brand’s story always at the ready.
- Don’t nickel and dime clients.
- If you’re giving someone a deal, make sure they know it.
- When on the road, simplify, simplify, simplify.
- Pay your bills on time.
- Diversify your client base.
- Look at your clients’ long-term value to your business,
- And don’t be afraid to “fire” the unprofitable ones.
- Organize your note-taking with a simple solution that works for you.
- Keep in touch with your best contacts – ON PURPOSE.
- View customer complaints as an opportunity to learn, not just criticism.
- Set time aside for planning.
- Never compete on price alone.
- Do everything with integrity.
She provides more tips than just these – and her travel tips (which I’ve summarized as “When on the road simplify, simplify, simplify”) are things that took me nearly a year to figure out on my own, but for small businesses, start-ups and growing companies who can’t afford to throw money around, these are great tips for staying focused, economizing and making it all work.
So many of the partners and clients I work with get too wrapped up in the daily details and grind of their business – handling clients, vendors and snarly employee situations – that they lose sight of the bigger picture. That’s part of the reason I work with folks, sure. But there’s a big difference between getting the “30,000 foot view” from an objective consultant and taking it in for yourself.
In fact, if I can get a partner or a client to learn how to see the big picture and spend some quality time working “on” their business instead of “in” it all the time, I’m allowed to do what I do best: adding perspective by questioning assumptions, providing research and outside experiences that may open up new opportunities or help make unexpected (and highly profitable) connections.
Don’t take this the wrong way, there is significant value in getting folks to come up for air. But once a partner or a client is comfortable in that position and able to recognize when it’s time to get in and out of the business, that’s when we’re able to really make some progress.
I’m there now with a few clients and will spend a good deal of time next week in planning meetings with one, in particular, where we’ll set the table for the next twelve months. I fully expect us to make major strides this coming year. It’s our third together and we’ve been able to improve our year-on-year performance each of the last two years. But like a garden (which is supposed to sleep, creep and then leap by year three), I think we’re really going to take off this year.
And we’ll never know if we don’t get outside the business and take a look from time to time.
Later.
USATODAY.com – Tips, tricks to help business run smoothly