One word can define the reality of success. This is said to be very vital in every effort. One of the most important steps for most individual, regardless of the properties. As long as you have a good knowledge on it, then you can give out the true definition of success through laying the word-strategy into realism. Cruse and Associates defines strategy as it should be taken in order to acquire one or more organization goals. Moreover, it is also a general direction set for the company and its various components to achieve a desired state in the future which could result from the detailed strategic planning approach.
This kind of approach is very popular with businesses which covers a variety of labor. Strategy, in short, bridges the gap between “where we are” and “where we want to be”.
- First things first, prioritize.
When it comes to your business, you prioritize by focusing on: revenue, engagement and growth. Select whichever one you need to prioritize within a certain time frame and set milestones. Ask yourself: Which goals need to be accomplished now? Why is each one important? Will it affect something else, and to what degree? How committed am I to this priority? Clearly identify your role within each of these priorities. Are you leading a certain meeting, a participant, or just coordinating the details of a family commitment? Each priority usually means different time commitments and energy levels, and this is a great way to test your limits.
- Use your tools effectively
The plethora of digital tools available today aren’t just there for fun, they’re meant to make your life and business more manageable. You could find free tools online for accounting, CRM, social media, managing meetings, storing information in the cloud or even set up automated customer service (and a bonus – an online personal assistant). I always suggest using your calendar as your most important tool. Most importantly, be consistent and share this information with your team.
- Hire a strong team
If you don’t already have a team, look to find at least 1-2 talented people that can join your team. It’s impossible to micromanage every aspect of your business (especially if you’re managing more than one), and investing in talented people will give you a strong return in the long run.
- Pulse Check
Set up a quick daily or weekly ‘pulse check’ with your team and use this time to check up on the milestones you set earlier. Talk about small challenges, innovations to internal processes or even your product/service at a high level for 10 minutes. Have a monthly meeting to review your business in more detail. This is also a great way to ensure that your legal, accounting and financial statuses are all in check. Know the legality associated with running multiple business lines, revenue streams or opportunities that you plan on pursuing. Ensure projects are not in conflict. Finally, check your cash flow, can you pay for everything now? Will you have enough money to manage your business in 30-60-90 days? You’ll see where you need to prioritize your time and funds with these pulse checks.
Balance is the toughest business challenge you’ll face as an entrepreneur. However, its not a difficult one to tackle. In addition to using the above strategies, make sure you get enough sleep and set aside time for yourself. Robin Sharma, a leading business guru, talks about sleeping early, waking up at 5 am and following this system:Drink a glass of water .Exercise for 30 minutes .State your affirmations for the day. Spend the rest of the time focused on your work (i.e. check your emails, write your report, review your finances).
Set aside some time to brainstorm.While you may not choose this exact routine, you’d be surprised at what you can accomplish by waking up early and following a routine. There’s no ‘noise’ in the morning hours and it’s proven you’ll get more work done between 5-9 am than you will the entire day. Every business leader has to find their own groove on managing the different areas of their business(es), especially if you plan on participating in more than one business venture. By following simple strategies, you can stay focused and stay on the right path to succeed.
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