4. October 2011 15:53
I do a lot of consulting for entrepreneurs building their companies.
No matter what the industry, I find the same things lacking in companies struggling to grow.
So this week, I thought it would be helpful if I put these common challenges into an easy to review checklist.
So take a few minutes to look at each of these areas, and ask yourself whether you can score yourself at least a 7 out of 10 in each vital department:
1. Clear vision for company over the next 3 years.
2. Clear company values (no more than 5, ideally just 3).
3. A manual for running the business. (How you and your staff do things day to day).
4. 90 day goals, with exact figures to aim for.
5. A marketing plan that uses at least 3 different media. (Most failing companies are not experimenting enough with different types of media).
6. Outsourcing or delegating non vital tasks (If you don't have an assistant you are one).
7. A coach, mentor or board to bounce ideas off. (No matter how smart you are it pays to have wise and objective counsel).
8. A sales presentation with at least a 1 out of 3 success rate. (If you're scoring lower than that you have either structured the presentation incorrectly, or you're selling to the wrong people.)
9. A clear understanding of who your customer is. (What they fear, what they desire.)
10. A system for staying in contact with customers and potential customers. (A company's biggest potential asset is its email list).
There are more areas entrepreneurs should keep an eye on of course, but get these ten right and you can be pretty sure that you're company will have strong growth over the next 3 years.
Get them wrong however, and your entire company's future is at risk.