The reality of today – a lot of people starting own business considering that’s it’s much better than spending eight hours per day in office working for someone.
Mistake #1 – ‘I can do this – whatever my background is’. Obviously you need to understand a lot of different processes for the company structure, human resource management, financial operations, marketing, sales…and many others. And even if you will delegate most tasks – you still need to know how to manage these people – whom you hired and delegate these tasks, and you need to be able to manage general processes and control, force results. You need to have good strategy to move in the right direction and be able to change it any moment, because it can happen that you need to change something immediately. Answer is – yes, you can do this, but accurately planned way.
Mistake #2 – I just need to spend more on marketing. The answer will be yes and no same time. Any budget you need to spend accurately by the precisely prepared marketing strategy.
Mistake #3 – I don’t need to change anything, I simply need more sales/clients/money… Money solves a lot of problems, but you’ll burn out the entire budget doing something wrong constantly with zero to minus in cashflow.
The truth is: EVERYBODY RESIST CHANGE!
The nature of this resistance is obvious – people love stability (comfort zone if you want) even if result is not the best, people don’t like something new, unfamiliar – they will resist it until will be ready mentally to accept, absorb and react with engagement.
Let’s assume that the reader is the one who’s ready to change and considering the ways of change (even within the successful ongoing business) to keep business up-to-date, and effective for the next year-two-three and more.
For sure there’s no precise recipe for the business success, but we know the ingredients which you need to add, the consequence that works better and your aim is to adapt it for your specific cuisine – thus your gourmet client (target customer) will like it, pay for it and come back to you again and again inviting friends for the next visit.
According to KLCGroup Research 2016 the most common business obstacles today are – weak marketing and weak management. Business owners noticed it in different ways as we’ve interviewed them in different terms to understand the problem nature deeply and provide most effective solution. One of the top answers to the question ‘your business will perform better if…’ was ‘if people will finally realize that we are the best on the market’.
As you can see the answers are quite different but the background is mostly same. That’s why we’ve summarized the list of top 6 problems you can solve today and start effective positive change for your business.
Thus, Problem #1 to solve today: fix your marketing, make it right.
Time needed: approximate 20 business days to prepare updated marketing strategy with good marketing coach, 1 day to review what you have and contact our marketing guru.
Can delegate: better no – if your current marketing is weak, that means that your marketer is not doing all the possible or doing things not in the right order or simply a person from the moonJ
Check after: you can expect results in 3-6 months after you start to implement changes.
Most people think it’s just about to promote something, even most marketers thinks so. If you hired one of them – you’re already in trouble, paying wage to someone who doesn’t make the most from what you have – not the way to success.
Problem #2 to solve today: check out company’s internal communication processes.
Time needed: 1 day to find out if there’s a missing link or some incorrect process, 20 business days to fix all the processes and increase effectiveness with KLCGroup consultant assistance.
Can delegate: yes, but the link to communicate to you as a Top person must be implemented properly.
Check after: 20 business days of work with KLCgroup consultant.
That’s the point that most business owners tending to forget about. Why is it so important? First of all – you can’t change your business for better if your team doesn’t support the change, doesn’t involve and enthusiastically engaged. And you can’t engage your team if there’s no right communication process. Second point – right communication process inside the company improves employee’s performance and team’s effectiveness. Most employee of middle-entry level is stocked without right leading. And here’s more about leadership and information than about straight control.
Problem #3 to solve today: after you fixed your marketing strategy – put your sales process in the right order and place.
Time needed: to plan change within the new marketing strategy developed – 1 day, implement – 1 week.
Can delegate: Yes, for sure.
Check after: 3-6 months, same as marketing results.
Why does it so important that we put it as a separate point? Just because if your marketing strategy developed right you already have this point inside of it, but you need to make sure it’s done. Do not use old tactics that worked somehow.
Problem #4 to solve today: evaluate everything.
Time needed: 1 day to check, 10 business days to fix processes with KLCGroup consultant.
Can delegate: yes, for sure.
Check after: 1 month.
It’s important to know what result you expecting from what effort and by what cost. Thus, project it, use checkpoints to control and check it all constantly. Same time every employee performance should be measured and evaluated to fix organizational structure, processes directions, other if necessary.
Problem #5 to fix today: over-budgeting, check out expenses.
Time needed: 1 day to check and make decision, 1 month to implement.
Can delegate: implementation – yes. Do not forget about checkpoints.
Check after: 1 month.
Some companies are simply wasting budget that can be used better. This point is especially important if you think that business need to earn more with such operations (have higher net).
Problem #6 to solve today: analyze everything, change and innovate.
Time needed: it’s constant work.
Can delegate: every top and mid manager must be involved.
Check after: constantly. For the analysis – 20 business days to conduct research with KLCGroup consultant.
CEOs of small businesses mostly don’t understand the importance of prior analysis and research. This cause mass of problems with marketing, positioning, sales and profitability as a result. You can do this using your resources or hire professionals for help. Correct analysis – market, competitors’, target customer – is the most powerful basis for the effective business strategy, profitable operations and such a desirable – success. Same time do not forget to innovate and change to react to the client’s needs, changed environment, etc.
Find out more from the KLCGroup report ‘What the biggest problems that businesses and startups experiencing today’ and solve these problems with exclusive plans.