When looking for ways to improve their businesses, entrepreneurs are often guilty of looking for the latest fad in town, they go all out in search of the trending clichés. One of the things these people have failed to realize is that great businesses are based on some of the simplest ideas. If you take a look at a lot of the business success stories around, you will have a better understand what I mean.
To drive home my point, let’s take a look at the slogans of three popular businesses, Coca Cola, Facebook and Instagram. Coca Cola’s first slogan was simply, “Drink Coca Cola.” All through the years, they’ve kept using simple slogans like “Coke Is It!” and “It’s the Real Thing”. Facebook have a few slogans, two of which are quite popular, “Done is better than perfect” and “Move fast and break things.” Also, the people at Instagram use “Capture and Share the World’s Moments” as their slogan. Each of these slogans is simple enough for anyone to understand, yet these slogans are powerful enough to influence the lives of billions of people.
The 7 decisions you will find below are pretty straightforward but they have the potential to turbocharge your business in an amazing way. I use them myself so, I know they work.
Delegate When & Where Necessary
When I was starting out with my programs, one of which was Modern Moguls Marketing, I was in charge of literally every aspect of my business. I was doing the marketing, I was the one developing the content, I was the one handling the sales, I was even in charge of the payment. I made nice money and I kept most of it. I believed I was doing pretty well, but I was burning out.
After discussing with a couple of the people I trust and respect, however, I found out that I was limiting myself, big time, by doing most of the work myself. I took the advice I received and I brought people in to join me. The month I brought in people, my income more than doubled what I had made the previous month. That was how I got my big break.
Do you find yourself doing most of the work in your business? If yes, you need to take some time out to get your house in order. Ideally, you should be working on your business not working in your business. If your business cannot keep running in your absence, then you’ve most probably been working in your business. You should rectify this as soon as possible.
If you are concerned that you may not be able to cope with the financial implications of bringing in people into your business, you can get only one person to start with, as you make more money, you can then bring in one more person, then another person, until your business can run itself without you.
Be Incredibly Specific
Specificity is a virtue, not a vice. It gives you an advantage. Various studies have discovered that humans get more done when they focus on one task at a time. It could be tempting to lay your hands on multiple tasks at once but the truth is that it would only reduce your productivity.
Instead of trying to do it all at once, why don’t you draw up a list of your tasks (this could be daily, weekly, monthly or within any specified time range), you can then prioritize these tasks starting with the most important. You should try as much as possible to get through with one task before hopping onto the next.
This principle of specificity does not only work for tasks, it can also help you in picking the right market. What I mean is that you have to be absolutely specific about your niche. You need to be specific about your audience. I have always reiterated it that one of the most important decisions you can make is in the choice of your niche. If you get this wrong, you will always seem to be kicking against a brick wall. The truth is that the more specific you are in your marketing efforts, the better the results you will get. You should not look to market to everyone on the Internet, instead, choose a specific audience and provide great value to them.
Back Up Your Decisions With Data
We live in a data driven world, a world where we have access to an unprecedented amount of data. This overwhelming amount of data has given us the opportunity to understand people better. For instance, it has become possible to know the best time to write a blog post so as to get the maximum amount of exposure. This sort of data wasn’t previously available.
The era when people made decisions based on their beliefs was gone. Your beliefs may be wrong. You might be surprised that you might even be doing the exact opposite of what you believe. For instance, you might believe that you are most productive in the morning (because you have to attend to a lot of things), but you might be surprised to find out that you were only busy, not productive. You might discover that you are most productive in the final hour of work (probably because you had to provide a summary of the day’s work). What you feel might be different from the reality, so, rely on data as much as possible.
Put Your Audience First…Every time
One truth you should settle is this,
You are in business because people keep buying from you
You should therefore never make the mistake of neglecting people when you make decisions. For instance, if you have a blog or website, you might be tempted to look for the latest Search Engine Optimization (SEO) techniques to make your website rank better in search engines.
Some people could sacrifice engagement if they would be able to get higher search engine rankings. But the truth is that, if you focus on people, if you write with people in mind, your website will keep ranking well. True, you still have to apply SEO principles, but if you focus on providing immense value for your audience, then other people will get to hear about what you do, and you will get more visits to your website as a result.
This principle also applies to other decisions you might have to make as a business – if you focus on making the lives of your clients better, you will always get better results. Just ask Facebook, and they will tell you that their main focus is to provide a better user experience for their users, that’s one of the reasons why they are able to get more advertisers to their platform.
Hire The Best People
Quality control and quality assurance are becoming increasingly important to businesses, and it should be to you too. When you hire the best possible people to handle a task, you will spend less time supervising them and yet you can rest assured that they will do something amazing. If you bring in mediocre people into your team, you will discover that you will spend half the time watching over your shoulder to see that they haven’t broken something. You can’t just trust them with critical tasks.
Take Quora, the increasingly popular knowledge sharing platform for instance, when their engineers and designers push code, that code goes live within 10 minutes. This is the same thing that could take weeks in other startups. If they don’t hire the best hands possible, how will they trust these people with such a critical task? It is also common knowledge that prospective staff of most of the top technology companies like Google and Apple have to undergo anywhere from 4 to 8 interviews before they get hired.
So, be careful about who you bring into your business. Make sure you have a system that would help you identify that golden team member.
Make Short Term Decisions in Line With Long Term Goals
Have you ever made projections in the past but were unable to meet it? I’m sure you have. Projections are meant to give you an idea of where your business should be at a particular point in time.
As an entrepreneur, I encourage you to have both long term and short term targets. To do this, you can simply start by listing your long term goals, something like having 5,000 more subscribers in your email list within 12 months. You can break this into a month-to-month target, which means you should bring in at least 417 people on average monthly. You can break this further into weekly targets which would mean that you should get at least 96 people on average to subscribe to your list each week.
You can also apply this to other things such as a large task. Even if you don’t meet your targets head-on, you can still achieve something noteworthy.
Do You Want To Transform Your Business?
When dealing with clients for the first time, I always get on a free call with them for 30 minutes to see where they are at the moment in their businesses, we can then chart a path together to supercharge their businesses. You can schedule your free 30-minute strategy session with me by clicking here.
Also, I have seen so many clients who have achieved phenomenal results within weeks and months using Social Media and a couple of other tools. This is due to our innovative approach to marketing. To find out for about one of such clients check out this page.