Running a local business on the Coast is a rewarding juggle, yet it is easy to lose sight of the bigger picture in the day-to-day grind. Recently, our Independent Board met to discuss how we can sharpen focus and boost performance.
Whether you operate from a polished local office or dispatch your gear straight out of a spotless, sign-written van, presentation speaks volumes. Small adjustments across every facet of your operation, from refining your product range and elevating customer service to dialling in your marketing and offering your team crystal-clear direction, can generate a massive, lasting difference for your bottom line and brand reputation.
Here are a few golden nuggets and discussion points that came out of the room to help you check in on where your business is at:
• Make a plan and work backwards. This means structuring short-, medium-, and long-term plans tied to your ultimate business goals, breaking them down so you can measure progress often and make adjustments early.
• You can only improve what you can measure. Regularly reviewing these milestones and metrics is just as vital as creating the plan in the first place.
• Cost vs Speed vs Quality: Customers can only ever expect to realistically choose two. Which 2 do you focus on without compromise?
• Consider this framework for ways to treat your team so they feel valued and stay high performers: S = Status, C = Certainty, A = Autonomy, R = Relatedness, F = Fairness. Make it safe to make mistakes, so long as they are not repeated.
• Protect your cash flow like your business depends on it, because it does. Profit is an opinion, but cash in the bank is a hard fact.
• Lean into local collaboration. Partnering with other nearby businesses on joint promotions or cross-referrals is a brilliant way to tap into new networks without breaking the marketing budget.
• “Make your Plan, Trust your Plan.” It may not be perfect, but it is your plan and a guide you can use to measure and improve.
• Aim at the stars: You may reach the top of the trees, but it is better than hopping away along the ground.
If you get nothing more from this article, use it as a reminder to start your plan today. It is time to change your language from “I haven’t had time,” to “I haven’t made time.” Making the time to build and periodically review your strategic roadmap is as vital to your survival as daily operations. Subtle difference, but are you prepared to make time now?
If so we can recommend Steve Myatt, an experienced coach forged from building and operating a highly successful, multi-million dollar retail business. He welcomes a complimentary discovery session where you can check-in on how you are measuring up.
(Excerpt from a session between members of the Independent Board facilitated by Steve Myatt – Horizon Business Solutions)