Major Areas of Growth for Small Business Owners

1) DEVELOP A LONG TERM VISION - Many small business owners will take their business to the next level when they can clearly answer the following questions:

a. What is your primary reason for owning your business?

b. What will your business look like in five years?

c. What is your exit strategy? - Clear exit strategies help business owners avoid the feeling of being stuck.

d. What message do you consistently communicate to your customers and employees?

2) SCHEDULE TIME TO WORK ON YOUR BUSINESS VERSUS IN YOUR BUSINESS Small business owners commonly make the mistake of spending too much time working IN the business and too little time working ON the business. It is important for a business owner to set time aside each week to reflect on his or her business. Answering the following questions will start a business owner in the process of working ON the business and help an owner think bigger about his or her business.

a. What areas of your business can you automate?

b. What areas of your business can you currently delegate? By developing proper systems, what areas could you delegate in the future?

c. How can the business run without you there?

3) INCREASE BACK END SALES – Most businesses incur their largest costs on the front end, through the process of acquiring new customers. Small business owners will grow their profits by taking advantage of back end sales with their existing customer base. Answering the following questions will help:

a. What methods do you use to “stay in touch” with existing customers? Are there additional methods that may be more effective?

b. What supplemental or complimentary products or services can you offer to your existing customers?

c. What partnerships can you form with other businesses to increase sales?

These are just some of the questions that a coach can help you think about and find answers to.  To schedule a FREE coaching session call 781-854-3388