What Should I Do When Starting A Business?

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In This Episode

So did you already start your business or are you still thinking about it?  If you’ve already started your business chances are you might be feeling a bit overwhelmed already.  If you haven’t already started, maybe you’re finding reasons not to start, like you’re waiting for the perfect time to launch.  Unfortunately there’s no such thing as you can always find reasons not to start your company.

One of the things we see quite often with business owners, no matter how close they are to start up phase, is that they are overwhelmed by the forces begging for their attention.  They honestly don’t know what to focus on first.  As you might imagine as the days, weeks, months, and years go by, the number of variables you’re dealing with as an owner continue increase as often does the confusion.  So getting started on the right foot can be tremendously helpful.

When we first start with our coaching clients we’re often working with them to put out fires.  Things that are really urgent and could use some immediate love and attention.  After those fires are addressed we can usually get the owner’s attention and start focusing on our 7 Keys to Success.  These 7 Keys tend to be more strategic in nature and can often help prevent or minimize those “fires” from flaring up in your business.

So the question then becomes, which of the 7 Keys should we be focusing on first?  Take a look at the key question each of the 7 Keys helps answer and see which ones are in most need of some love and attention in your business:

  • Vision: how do I figure out where we’re going?
  • Profit Plan: how do I make money on purpose?
  • Marketing Plan: how do i know we are doing the right things to drive sales?
  • Organization Plan: how do I keep track of who is doing what?
  • Leadership: how do we continue to develop as leaders?
  • Cash Flow Forecast: how do I make sure we don’t run out of cash?
  • Presenting: how do I talk about my business so that everyone can understand?

So if you’re just starting out, there’s no right answer for which of the 7 Keys to focus on.  See which of the 7 items creates the most angst or stress for you.  Is it cash flow or figuring out how you’re going to get all this stuff done?  Are you unsure of who would be a good customer for your business or how to find them, or are you concerned about the upcoming meeting you have with your banker?  Whatever your biggest concern or opportunity, we find the 7 Keys to Success to be an invaluable resource to help you continue to take the next right step in your business.

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