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You’ve started a new business. You have used my 9 Initial Steps to Start a Business to sell your goods or services. However, your business is not doing as well as you expected. Unfortunately, beginning a business with a rough start happens to the best of us.
Maybe we don’t put our best effort forward, maybe we just don’t attract the right people, or maybe we are sabotaging ourselves. There are many reasons that businesses fail or begin with a tough start. The idea is to figure out your pain points and determine how to fix them. Don’t fall short before your business gets off the ground.
Determine the pain points of your business. Sit down and review what happened this week in your business. If you are having trouble pinpointing the issues, try writing pain points that arise daily on a calendar. At the end of a week review your calendar. The details on your calendar will tell you what your pain points are. You can do this on a monthly basis if you feel that a week isn’t enough time to gather information.
Some pain points businesses experience are:
- Not getting enough customers or clients
- Cash flow
- Hiring someone to help manage your business
- Regret starting the business
After establishing what your pain points are for your business think in terms of strategy. You will design a plan of action for your business. A strategy is an action you will take to help achieve one or more goals. Normally you will need various plans in place to accomplish an overall goal.
Some strategies for business are:
- Create a new service to sell
- Increase website traffic
- Make a landing page
- Talk to a bank about a business loan
Another way to make sure that your business doesn’t fall short is to set goals. Goals can vary based on your business. Setting goals take place after you discover pain points and strategize for your business. The business goals you set in place are there to assist you in eliminating the pain points you recognized for your company.
Some typical goals are:
- Reach your first big client in three months
- Work towards a profit increase within six months
- Hire a bookkeeper within one year of profit
- Create social media pages within two weeks
Setting goals are an important part of strategizing. However, make sure the goals you set are realistic.
It’s necessary to following through on strategies and goals so you don’t fall short on the growth of your business. What I mean by following through is organizing yourself and making sure you don’t forget about any of the strategies and goals you put in place. Depending on your business you can use tools like Acuity Scheduling, planners, Tailwind, and more. When you follow through, you will find out what strategies and goals worked for your business and which ones you need to change.
Other Related Posts:
- 9 Things I Learned in 9 Years of Being a Small Business Owner
- 5 Ways to Know You’re Ready to Hire a Virtual Bookkeeper
- How to Stay Motivated While You Build Your Business
- 5 Reasons Why You Should Outsource Bookkeeping
- 5 Tips to Help Prepare for Income Tax Season
- Top 10 Bookkeeping Tips
- How to Make Drop Shipping Work for Your E-Commerce Store
- 3 Reasons Why You Need a Bookkeeper All Year
No one wants to fall short when beginning a new business. The Small Business Administration has some useful resources and information for business owners. Virtual assistants, virtual bookkeepers, and regular employees can provide support to a growing business. As business owners we sometimes forget that we are not superheroes. Relieving yourself of daily work for much-needed management time is a natural step for business owners.