Want Results? Consistency and Effort are a Must

My name is consistency, I am related to success. We should hang out more than every once in a while.

If things are to change, you will need to implement a process. What exactly does this mean? It means you must necessitate a series of actions that need to happen in order to make something work.

For instance, have you ever witnessed someone who looks like they are running around with their heads chopped off, but by the end of the day but nothing was really accomplished? Do they appear to be focused and making clearheaded decisions? No, and in fact, they are running around aimlessly and go about their tasks with no direct course.

This, unfortunately, happens often with small business owners because they do not understand how to ‘own’ a business. Money may be flowing in and everything appears to be great, but the truth of the matter is the business owner is lost. Working 65-70 hours may make an owner feel as though they are putting in all of the efforts that they possibly can, but a lack of a consistent plan to recognize when something is wrong will only make a business lose more money.

This may seem like a given, but plans are absolutely essential. Have a goal, set a plan and follow through with it. That’s a strong formula for success (if not, THE formula for success).

Here are 5 tips that will ensure that your consistent effort ensures your business is a success:

1. Have a written plan. Without a plan, you are merely dreaming. It needs to outline specific objectives, strategies, finances, sales and marketing, and a determination to know what your business needs as far as a cash flow to get things done. Ideally, a business owner sets up a financial business plan that lets them take action on any given day to adjust to any negative factors. A financial plan is not accounting. Accounting looks back in time, starting today and taking a historical view. Business planning or forecasting is a forward-looking view, starting today and going forward into the future.
2. Leave your ego at the door and listen to others. Advisors and consultants are crucial because you need people to inspect what you are doing, bounce your ideas off of, and push you to greater accomplishments by holding you accountable for what you are committing to do. Check for a common understanding of topics, whether you agree or not. Understand and value all styles of respectful communication.
3. Track everything, and manage by the numbers. Numbers don’t lie. When you create written systems, you will without a doubt reap benefits from them in due time. This is a great tool to train employees and retain consistency. Know your numbers and check them daily. This allows you to make decisions based on what the numbers tell you rather than through emotion. Determine what it takes to ‘open the doors’ in the morning and the amount of cash you need to do business. This is also called pro forma cash flow. The insight from this is extremely valuable to a business and keeps an owner from wasting time and effort.
4. Do NOT micromanage employees and learn to delegate to them. An owner’s job is to delegate to managers who then delegate the employees and then inspect the process. The worst thing an owner can do is be a control freak. Delegating effectively will get you more than you expect. Have a written training and orientation plan so employees know what is required of them. Keeping employees trained and involved in the business can reap huge rewards. Use an incentive-based rewards system, and maintain a ‘no problem’ attitude about issues that crop up.
5. Reap the benefits. If you are consistent in your effort, you will see results. Make sure that a system is in place to track and measure your progress. The great thing about using a business analysis is that you get to see a reduction in the overall costs. Discovering more cost-effective solutions, learning to focus your energy on the proper priorities, and being able to see a Return on Investment (ROI) help a business owner make sound decisions that impact the business in a positive way.

We all want to gain as much as possible from our efforts. It’s only natural to want to make sure that our investment of time and energy is not wasted. Being consistent, creating the tools, and developing the habits to be successful is the key to success in any business. Learning to understand the mechanics of how to consistently put steps into action will make it less likely to quit before reaching your goals.

Timothy S. Blomstrom is a Business Specialist for Legacy Alpha in Raleigh-Durham, NC. For more information about the Legacy Alpha Business DNA Profile please email at timblomstrom@legacyalpha.com or call 919-656-0592.