It All Starts Here
Common Areas Where Businesses Struggle
Think you or your business is struggling in one of these areas? Click on one to find out more.
Sales
Do your sales reps understand the competitive differentiators that make you different and separate you from your competitors? Or, do they just sell price?
Here’s a list of trigger statements I often hear which indicates a need for help in the area of Sales:
“Our customers just don’t see our added value.”
“My sales people can’t tell me why our customers choose someone else.”
“We are losing bids constantly on price.”
“I don’t know what are sales people are doing.”
Does this sound like you?
Marketing
Let me ask you this. Do you really know what return you’re getting on your investment? Do you know specifically which marketing efforts are bringing you prospective customers? Do you know what’s working and what’s not?
If you don’t, you’re probably throwing your money away on efforts that aren’t working. By the way, this is cash that could be going to the bottom line!
Is your marketing message fresh or are you using the same old stale message? Is it different than your competition? Does it really get people to act? Is it filled with guarantees and testimonials, which will bring you credibility?
When was the last time you got candid feedback from someone outside of your business? Here’s a list of trigger statements I hear which signals a need to explore new marketing ideas:
“Marketing is a waist of money.”
“Deciding where to spend our marketing dollars is a crap shoot.”
“I have no idea if our marketing is working.”
“I don’t know how to plan marketing; I just do what I’ve always done.”
Does any of this sound familiar?
Customer Service
Do you think your company has good customer service? Unfortunately, good customer service is the cost of doing business today. Good customer service doesn’t mean jack! You’ve got to be good today just to play the game!
The question is: Are you great? Are you awesome? There’s a difference.
The companies that are really good at this attract customers who become intolerant with businesses offering inferior treatment. Superior customer service acts like a magnet to customers who come to build trust and loyalty that lasts for a very long time.
Here’s an example of trigger statements that imply a need to pay closer attention to this department:
“Our sales people make promises that our team doesn’t know about.”
“We get a lot of customer complaints.”
“Some customers love us and some don’t.”
“We’ll never please everyone.”
“We seem to lose customers that we shouldn’t.”
“I have no idea what our customers think of us.”
Strategic Planning
Does your company have clear Vision, Mission and Values Statements that help guide your company? Do you use them on a daily basis to assist you with employee reviews, pay raises and management meetings or are they just words placed in a frame and hung on a wall somewhere in the lobby?
Do you routinely conduct a SWOT analysis of your company and use the results effectively to plan for necessary changes within your organization? Do you use the results to create and prioritize the issues that must be addressed to determine your goals?
Do you have a clearly identified Executive/Leadership team that is involved in strategic planning and implementation?
Ever hear yourself making any of the following trigger statements?
“I couldn’t tell you my company’s long term goals.”
“We fly by the seat of our pants around here.”
“My employees don’t see the future the same way as I do.”
“Why am I always putting out fires all day?”
“My people make too many excuses for a lack of results.”
“I have no idea what our Mission Statement is. I think it’s in a binder in the bosses office on his bookshelf.”
Human Resources
Do you have an effective and formalized hiring system? Do you have written job descriptions for every position within the company? Are all new hires effectively trained in a systemized process?
Do you conduct regularly scheduled staff meetings that are highly effective? Are your employees highly motivated and love coming to work? And, are your company benefits and compensation plans competitive and provide a reason to motivate your employees?
Ever hear these comments around the office?
“Good help is hard to find these days.”
“I have no idea if we’re violating any employment laws and this concerns me; they’re too hard to keep up with.”
“We’re not able to bring new employees up to speed fast enough.”
“My employees are mad that they haven’t had a performance review or pay raises for quite some time.”
“Our staff meetings are a joke and a waste of time.”
Business Systems
Do you understand as the business owner that your primary role is to ensure that your company is run by systems (step-by-step processes)? Ever wonder why so many franchises succeed and most small businesses fail?
Are all functions documented and assigned for each department of your company?
Do you use up to date technology to ensure all systems are compatible? And are you confident that your employees would know what to do if you or the leadership team were absent for any extended period of time?
Do you even know what systematizing your business means?
Here are some examples of trigger statements that signal a need to consider systems in your business:
“I’m wearing every hat around here; chief, cook and bottle washer.”
“How come when I’m not around, it’s like the blind leading the blind.”
“When things aren’t getting done, no one takes full responsibility.”
“We do things around here a certain way because that’s the way we’ve always done it.”
“Every good idea around here has to start with me.”
Exit/Succession Planning
This is probably the one area of business where most owners are negligent. Very few of us want to think about our company without us in it. Whether we ignore it or simply choose not to think about it, exit planning is most often left to deal with once we’ve made the decision to get out. This is a HUGE mistake!
Does the vision for your company include an exit strategy? Do you have a clear picture of where your company will be five or ten years from now? Does your exit/succession plan consider family members and/or key employees?
Do you have a strong sense of the market value of your business based on normally accepted business practices for business valuations? If an outside buyer wanted to purchase your company today, would you get the maximum value for it?
Here are some commonly heard statements indicating a need to work on exit/succession planning:
“If I had to sell my business, I don’t know what I’d do.”
“I run my company day to day and don’t have time to think about the future.”
“I want to pass my business onto my kids, but I’m not sure they want it.”
“This company can’t survive without me.”
“I wouldn’t know who’d want to buy my business.”
“I have no idea what my company is worth.”
“I have no life outside of my business.”
Financial Management
Are your financial statements current and do you use them regularly as a decision making tool? Do you understand and forecast your cash position to easily meet the demands of your business?
Do you maintain frequent interaction with your accountant, banker and other financial professionals to ensure financial best practices? Do you price your products/services to what the market will bear to maximize profitability?
If you ever find yourself making the following comments, you should consider getting help with financial management:
“I feel like we’re leaving money on the table, but I fear we’d lose customers if I raise my prices.”
“Even though our sales are going up, our profits are going down.”
“I can’t read financials so I don’t even look at them.”
Leadership
Every company wants to look up to their leader. Are you worthy of being looked up to? Do you exhibit a high level of integrity in your words and actions at all times? Do you follow through with your commitments to others?
Do you show personal respect and concern for your team members and demonstrate compassion when needed? Are you surprised when an employee resigns? Do you believe that failures in your business are directly related to your leadership?
Ever hear yourself saying any of these statements?
“Everyone seems to be doing their own thing.”
“My employees don’t respect me.”
“I have a hard time saying no to people.”
“I don’t feel like my employees and I are on the same page.”
“We have too much turnover and I don’t understand why.”
“It’s not my fault.”
Personal Effectiveness
Do you set SMART goals (Specific, Measurable, Attainable, Reasonable and Time sensitive) and pursue them daily? Are you personally responsible for all your actions and accountable for all of your results?
Are you active in improving your overall health? Are you aware of how your emotions impact your actions, decisions and relationships? Are your personal finances, retirement plans and insurance and estate planning in order?
Here are a few examples of trigger statements that indicate a need to focus on personal effectiveness:
“I really don’t know what I want in my life.”
“I have no idea what the future holds.”
“I’m sick of being around people all day.”
“I’ve been working my tail off for years and have nothing to show for it.”
“I just want to be left alone.”
“It’s no fun coming to work anymore.”