Work Today to Improve Your Business Tomorrow

As a small business owner, or someone leading an organisation, you have many plates to spin.

You're probably responsible for everything from sales and marketing to ensuring your people are led and managed correctly, and that’s before you have to ensure you’re running a profitable organisation.

However, how and what do you prioritise?

The thing is, the macro environment (everything outside of your organisation) is continually changing, in some areas, by a greater degree than others, and so prioritising what you focus on can make the difference between survival and failure.

Every business leader grapples with a long list of responsibilities and what needs to be done, but what should you work on first?

The answer in my mind is, whatever will move the business forward the most and the fastest. The question therefore should be, how do I identify and prioritise those actions or projects that drive our success?

Let’s look at some common issues faced by many business leaders:

1. Marketing: Getting and Converting Leads

Before we look at this area, it's worth remembering that you need to be communicating clearly to your target audience why they need to work with you. If you confuse, you'll lose, which means clarity in your messaging is critical.

• Getting Leads: If your business suffers from inadequate leads, your immediate focus should be on bolstering your marketing strategies.
• The StoryBrand framework for example, underscores the importance of positioning the customer as the hero and your business as the guide. Ask yourself, "Is my marketing narrative centred around the customer's needs?" If not, revisit your strategy. Create clear, relatable messages. Use testimonials and success stories to foster trust. Also, ensure you use the right channels to reach your target audience.
• Converting Leads: If generating leads isn’t the issue but converting them is, then sales processes become the priority. Train your team to understand the customer's journey, needs, and pain points. Using the Business Made Simple framework, ensure that your sales pitch helps potential customers visualise a prosperous future with your product or service. Focus on clear communication, tangible benefits, and genuine customer relationships.

2. People: Management, Leadership, and Systems

Your team is the lifeblood of your business. Even if you have a stellar product or service, you cannot achieve your goals without a motivated team.

• Common problems include too much time is spent on tasks that don’t move the business forward, never having focused time to work on big projects, people confused about who is supposed to be doing what, spending most of your day stuck in unproductive meetings, time and money is continually wasted and of course, your business doesn’t grow
• Streamlining operations by introducing robust systems and processes will ensure your team works efficiently and isn't bogged down by redundant tasks. Introducing robust systems and processes not only reduces errors but also allows your team to focus on high-priority tasks. Could you consider implementing tools or software that automate repetitive tasks and encourage your team to provide feedback on systems that need improvement.

3. Financial Priorities: Increasing Revenue and Cutting Overheads

To ensure sustainability and growth, the financial health of your business should always be on your radar.

• Increasing Revenue: Besides enhancing marketing and sales, consider diversifying your products or services. You need to understand the emerging needs of your customers and cater to them. Collaborations or partnerships might be another avenue to explore.
• Cutting Overheads: Profitability isn't just about making money; it's also about saving it. You can regularly audit your expenses. Identify non-essential costs and eliminate them. Renegotiate contracts with vendors and explore cost-effective alternatives. However, it's essential to ensure that cost-cutting doesn't impact the quality of your offering or the well-being of your team.

Being a leader comes with the daunting task of juggling numerous roles and responsibilities. However, you can navigate these challenges effectively with a structured approach to prioritising what you do and when you do it.

Consider what you could work on today that would make the most significant difference to your business tomorrow. Doing so will set your business on a path of sustainable success.