HUSTLE – CREATE THE BUSINESS YOU WANT
Hustle = what you need to do to earn money
Calculated on factors such as debt levels and the weather, experts say that the period between January and Easter is officially the most depressing of the year. That doesn’t have to include us though! With headlines (Brexit) and research like this no wonder we all feel less motivated and business may be quieter. Instead we can use these early months to get the best advantage to move ahead and create the scalable business we need. I am still waiting, during another mild winter, for the 40 days of snow and ice forecast last year by many. Stop. Right. There. You decide the reality of your day and waiting around for forecasts should not be on anyone’s business agenda.
I love quotes from top motivational speakers and there are some of our favourites peppered through some helpful pointers to help you get what you planned:
(1) Are you limiting yourself?
As a small business or sole trader there are only so many hours a day and you can only work 18 hours a day for so long before you drop. Are you using your time wisely? Are you working, but not making a profit?
Now is the time to examine why.
I have met many business owners who fill their time with meetings and actions because they like to be busy. What is that time achieving? Take your networking for example. Calculate how many sales you have made as a result of networking and then measure that against the time and expenses involved in those meetings. Is it worth it? If it is lifting your spirits and you are returning because you feel pumped up and enthused then absolutely continue as its great for your well being, but, as with all activity, measure it. If it’s taking up loads of time and has a mainly social benefit then revise the time you devote to it – your business needs you to make sales as well as being in a good place mentally. Its all about making smart choices over how you spend your time.
Are you doing “stuff” at the expense of spending time on your own business? Are you worried about taking a day to plan for your business? If so, you are putting a ceiling on your own income because every business needs to be planned so you know what action to take. Yes, we mean here, planning daily and executing ON your business – not just doing the stuff you need to do IN your business.
As Zig Ziglar says, “You were born to win, but to be a winner you must plan to win, prepare to win, and expect to win.”
So whilst others are lamenting you can stop sitting moping and do something. Don’t be a whinge pants, you have control over your own life and how it pans out. Spend some time on your business and think about what you want to do and achieve in the next year and plan 2 or 3 steps to make it happen.
As Tony Robbins (and many others) says, “Where focus goes, energy flows.”
(3) Set your goals
To reach a target you need to know and understand what that target is. An athlete can’t run and win a race if they don’t know where the finish line is. Saying “I want to make more money” is not going to be enough. How much? By when?
Set the goals you want to achieve in the next 12 months and work out how you are going to achieve them. So, if you want to make £30,000 a month
– what will you sell?
– how much do you need to sell
(4) Is your business scalable?
If you want to build a business empire is what you are doing now scalable? If you are currently a sole trader delivering a one to one service how are you going to multiply yourself? Is the business going to revolve around you day in day out or be able and capable of being delivered via others?
Think about factors such as
– how you can transfer what you do to enable others to replicate it?
– processes which will automate aspects of what you do – it also will make things easier and more efficient
– creating something that you can deliver “one to many”?
As Wayne Dyer says, “If you change the way you look at things, the things you look at change.”
(5) Get your pricing house in order
Business is NOT about being busy. Success is not measured by the fact that you work 12 hours a day. Business is about making money, so start by being really clear about your pricing.
You sell to make a profit, taking into account what it costs you to sell/produce what you sell. At its simplest if something costs you £1 and you sell it for only £1 or less, then you won’t make a profit. Base your prices realistically, based on factors such as
- your buyer profile – get feedback/input and listen to what they say
- your market – know what your competitors are doing
- understanding what it costs you to sell/deliver
It not about having the lowest prices either – make sure your buyers know your value. As Warren Buffett says, make sure your buyers know “Price is what you pay. Value is what you get.”
Make this your year.