Pivot Into Profit- Episode 2
Welcome back to the second episode of the Pivot Into Profit series!
This mini series will focus on: critical mandates for cash flow, important requirements to run a successful business and everything in between. Be sure to check out episode 1 if you missed it last week (linked above).
This week’s episode is focused on the four requirements to run a successful business. We divulge the most important aspect and how it is essential to the longevity of your company– and sanity!
Requirements to Run a Successful Business
There are 4 requirements to run a successful business: Planning, organizing, directing and controlling (feedback loop). It’s said that 1 hour of planning can save at least 20 hours in implementation. With that in mind, never rush or cut corners in the planning process. This article will highlight the importance of planning.
Get out in front -- strategically.
Here’s how most businesses usually approach marketing: the boss suddenly realizes that the phones aren’t ringing, so postcards and emails are hastily tossed around until clients suddenly remember the company again.
But if you want consistent cash flow– AKA long term success– then you need consistent marketing plans.
This means testing your message, testing your tools, and then testing your frequency until you can predict how often your phones will ring. (This is critical for deciding when to invest, when to expand, when to cut back, and when to cash out.)
Remember that it’s not how much you spend, but where and when you spend it. You must determine the methods and tools to reach your audience and then communicate with them repeatedly until they use your services, or refer you to someone who will.
If only it were as simple as it sounds.
You have a service and people have a need. In an ideal world, the problem should solve itself.
But it’s harder than that – which is why you need to identify your sales program.
A successful sales program is the method you use to convert a prospect into a client. Without a plan, you’re shooting in the dark – and not likely to have much success.