Do You Know if Your Business is Working for You?

Last time I talked about the importance of developing basic systems and procedures for all areas of the business. Probably the most ignored or avoided area I have seen with small business owners is a system or program in place for regular review of progress. Just like any game, there must be a score card in order to determine the outcome. Nothing is accomplished by setting objectives, resolutions, and behaviors unless you utilize the business resources required to measure it.

#1. How often do you review your outcomes?
In business a monthly or quarterly review will help determine where the shortfalls maybe, to allow for timely corrective action. In some cases, even weekly assessments are necessary.

The tool for accountability asks “How am I doing?” The answers provide you with what you need to know about your business or yourself in order to improve and/or increase your results.

#2. What does it take and how do you begin?
Tracking your progress means having systems set up that provides you with information.

#3. What do you need to track?
How much do your customers spend with you?
How old are they?
How did they hear of your product or service?
What did you gross this week, month,quarter, year?
Did you make a profit? What is your break-even point?
What are trends of your business?
How many prospects and/or contacts did you make?
How many new customers did you attract?
Time on high priority, high payoff activity

What about behaviors?
Scheduling appointments Planning Prospecting
Level of energy

It takes persistence to accomplish your goals. You must continually work on self development in order to have noteworthy success at any endeavor. Of course, one of the business resources to help you accomplish these goals is business coaching from Mind Masters.

It takes having a way to continually remind yourself of your goals and results. Every day you must take action toward them. The daily reminders will result in long term persistence which enable you to achieve the success you want to have both in business and in lifestyle.

Be sure to take a look at other blog articles from Mind Masters, the San Diego mastermind group