The truth is, if you don’t know where you want to go or how you’re going to get there, you’re much less likely to succeed. If you really want to have a successful business and you are tired of flying by the seat of your pants, it’s time to become a better entrepreneur and business manager.
* Write Down Your Plan – When you create a plan it’s imperative that you write it down so that you have not only a record but also a list of steps in chronological order that need to be accomplished to reach the next step. Take that plan and break it down to every single day so that you know what you need to do each day to ensure the success of your plan.
* Use Data to Adjust the Plan – Remember that when you write down your plan, it’s based on assumptions. If the data starts showing you that your assumption was incorrect, change what you’re doing on the fly to make more sense with the facts that you’re uncovering by your actions.
* Open Your Mind and Listen – If others around you are giving ideas and advice, especially if they’ve succeeded in places you haven’t, listen. You don’t have to do exactly what they say but it’s important to realize that you don’t have to reinvent the wheel. You can take other people’s ideas and make them better if you want to.
* Track Everything – In order to make good choices, you need to know what is working and what is not working, and why. You also need to know how much money you have coming in and going out. You need to know what you make most of your money from and what you spend most of your money on. You need to know how many clicks you got on that sales page and how many of those converted and where they came from.
* Delegate Strategically – As a business owner, you cannot do everything. You never will or should do everything either. Even if you’re multitalented, you’ll make more money and have a better quality of life if you hire experts to whom you can outsource anything that is not your main money-making activity. Having said that, you can outsource that too.
* Use Tactical Automation – Choose automation that doesn’t replace engagement. Use it for routine things like adding people to your list, sending their product to them, and letting them know you’ll get back to them soon.
* Focus on Net Profits – One thing people often do is talk about “revenue”. Revenue is important but it’s not as important as net profits. You can have millions in revenue and your profit might only be a few thousand dollars.
* Follow the Plan – When you create a plan down to the day in a task calendar, actually follow your plan. Open your calendar and do or assign someone else to do what’s on your list. When you make adjustments, make a note of it so you know when and why you did it. It’ll be very important later to account for changes.
The truth is, if you look at almost any business that fails, there is always a reason. The owner did not do enough research before starting, they got into too much debt to support the business, or they weren’t implementing the plan that they created or weren’t willing to adjust and listen to others.
You can do this. You are an entrepreneur.