A-Z of Business Basics

In business it is easy to become demotivated, especially when you listen to the news and hear about all the doom and gloom out there. So let’s go back to basics and remind ourselves of some business ABCs…

A -void being negative – no one wants to buy from a company or person with a negative attitude.

B-enchmark your competitors , find out what they are doing, and do something different to fill the gap in the market or to make you more competitive/better value.

C -ash is king- make sure you keep your eye on your finances.

D -on’t give up and don’t give in. Most great entrepreneurs have had spectacular failures but they have rubbed themselves down and got on with it again.

E – xcellence is what you need to aspire to in all areas of your business – if you can’t achieve that in a particular area, then outsource it or get someone else to do it.

F -ocus on getting your message across in a great website, embrace social media and communicate with potential customers in any way you can.

G -o that extra mile and a half to achieve customer delight, not just satisfaction.

H -abitual mindsets need to be avoided – instead of thinking ‘that won’t work’, review your beliefs and assess why it won’t work .

I -nsanity is what you suffer from if you do the same things over and over again in your business and expect them to turn out differently (adapted from Mr Einstein).

J – ust remember your communication skills at all times. Understand yourself and understand the behaviour of others – better still, get your team’s behaviour profiled.

K -eep the fire in the belly. Times are hard but if you survive now, you will survive later!

L – ogos / awards – if you have them, use them in your marketing to give your company prestige/quality reputation.

M -arketing plans – know what you are going to do when, how, why …and then review them to see if the campaigns worked.

N -etwork as much as you can – people buy from people.

O -pen your eyes and see the wood for the trees – get a second opinion from an independent coach/mentor to keep your company developing.

P -lan, plan , plan- your marketing, your development, your team, your cash flow, your exit strategy – failing to plan is planning to fail.

Q -uitters never win and winners never quit. If your marketing campaign does not work – think how it needs to be tweaked and try again before giving up.

R -eferrals should be your bread and butter – use them, put references on your website, leaflets etc.

S -ell, sell, sell. Use techniques to up-sell and cros-sell. It is easier to get your existing customers to buy more/refer you than it is to constantly seek new customers.

T – eam development is crucial to your success. Make sure you have got the right people in the right jobs. Round pegs and all that.

U– nique selling points – make sure you have them to help you stand out from the crowd.

V -isualize your company in 5 years time, what do you want to have, to be, to do – think of your personal and professional goals.

W -ork on your business instead of just in it.

X -ccelerate your efforts to get good leads to increase conversions – if you don’t get the job/project/customer – get feedback as to why not. Learn from mistakes.

Y -ou owe it to yourself and your family to keep your work/life balance in control. Don’t let your business rule your life.

Z -ero in on your target customers – where do they go, what do they read, etc … then go there to find them and go for it!!

Contribution by Helen Mattacott of Beacon Peninsula

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