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Category - Small Business

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1
A 5 Day Challenge To Master Your Business Finance
2
Operational Efficiency – The First Steps
3
A Challenge in Customer Fulfilment
4
Small Business Marketing Made Easy – Your Messages
5
The Practice of Planning

A 5 Day Challenge To Master Your Business Finance

In 40 years of advising small businesses and helping them grow, I have noted that the most successful small businesses to 6 things really well:

  1. They show and encourage leadership within the business;
  2. They make planning a habitual practice in the business;
  3. They are always marketing;
  4. They ensure that their customer enjoys a fulfilling journey through their business;
  5. They have made their processes and operations efficient; and
  6. They do not neglect to understand their finances.

This week I’m going to talk about finances.

But I’m not going to teach you how to be an accountant!

I’m going to tell you why you cannot neglect the skill of understanding your finances and then set you a challenge that will show you how to cheat your way to mastering your finances!

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Operational Efficiency – The First Steps

In my Small Business Owners Growth Guide, I identify the Six Business Success Factors.

In 40 years of working with small businesses, I have observed that all successful businesses do these 6 things well.

They are:-

  1. The Act of Leadership
  2. The Practice of Planning
  3. The Logic of Marketing
  4. The Pursuit of Customer Fulfilment
  5. The Attainment of Operational Efficiency
  6. The Mastery of Finance.

You can download my free Small Business Owners Growth Guide to the Six Business Success Factors here and “audit” your business to see how well developed they are in your business.

I’ve recently dealt with Leadership, Planning, Marketing and Customer Fulfilment in this blog, so this week I want to turn my attention to Operational Efficiency.

What do I mean by that?

I also want to set you a challenge that you can undertake over the next 5 days, taking just an hour a day to start your journey in Operational Efficiency.

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A Challenge in Customer Fulfilment

Customer Fulfillment usually refers to the process of delivering the product or service to the customer, involving “order fulfilment” methods such as logistics.

However, when I say customer fulfilment, I mean the whole system of ensuring that your customer is “fulfilled” in their engagement with you.

In other words, how fulfilled are they when they first encountered you, how easy was it to transact with you, whether they received their goods and services in the way and time that they liked, and what was their experience after the sale?

I take customer fulfilment to be much more than “customer service”.

It’s about total satisfaction.

In this definition, customer fulfilment is one of the six key factors that successful businesses must have to be successful.

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Small Business Marketing Made Easy – Your Messages

This week I’m going to give you a challenge that will focus your marketing on your ideal customer.

The Logic of Marketing is one of the Six Business Success Factors that I have consistently found – in 40 years’ of working with small businesses – that successful businesses all possess.

Even if you feel you don’t have the skills, or that you are too busy, or that you can’t afford it, you cannot deny that your business needs to market itself to customers.

What stops us is that we think it’s too expensive, or we don’t know how to start because we don’t know enough about it.

So, we “market” by talking about our product, we hang signs on our doors, or we place the odd advertisement on social media or in a newspaper.

What if I were to show you the Logic of Marketing and how easy it is to start?

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The Practice of Planning

I have identified six things that businesses must do if they are to be successful businesses.

Not all businesses manage to be good at all six things, but all successful businesses – no matter how small – are good at all six things.

These Six Business Success Factors are providing Leadership, good Planning, effective Marketing, Customer Fulfillment, management of Operational Efficiency, and the mastery of its Finance.

This week I’ll discuss the Practice of Planning and how it helps any size business to succeed.

I’ll then set you a challenge that you can undertake over the next 5 days.

It will be fun and more importantly, it will help your business become focused on success.

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