Change is occurring faster than ever in every business aspect. For example, social media is a multi-faceted tool and every day a new twist occurs which needs to be addressed. For many small business owners just trying to keep up with the “social media” marketing opportunities can become an almost full time endeavor. The sad part is that unless they are versed in social media marketing the hands on part takes too much time and often is not understood to implement correctly.
If your strength is building “widgets”, then concentrate on what you do best and invest in someone else to handle those business needs that are not your strengths.
Just as marketing has evolved from old fashioned advertising to include social media, public relations, e-mail marketing, content marketing, branding, structured networking, data base marketing….etc., so have other critical business functions. For example, the structured business plan, one size fits all concept, that has been used for many years, is undergoing radical changes. In my practice, I have adopted the business block method of business planning which allows my clients to “build to suit” a plan specifically for their business.
Other basic business functions such as accounting, internal systems, and marketing plans are undergoing similar changes and are no longer static.
A business grows by selling at a profit the products or services it offers. In most cases the business owner has a specific strength in the business cycle. Examples may include product/service development, knowing the benefits they provide to a target market, obtaining resources, financial management, etc. The bottom line is that the product/service has to be sold at a profit in order for the business to grow. The business strength that an owner has should be supplemented by others to handle the weaknesses the owner has in other areas.
Affordability of help is never an issue if more product/services are sold and the bottom line increases due to a more efficient operation. This solution is not always easily recognized as it takes trust and willingness to risk. I become a part of my clients business from the time an engagement is started and stay with the business through its stages of growth.
In past blogs I have stressed the importance of focusing on the one thing that can produce the greatest and most needed result for your business. Find the support that allows you to keep your focus.
Today is the first day of the rest of your life, make wise choices……………
Nick J. Petra CFP What I do best is help a business owner have more time, more money and a better functioning operation that can increase profitability.
Call today to spend a no charge hour with me….. 602-989-1502 email@example.com