There are great ways to run your business and not so great ways to run your business, here at Zenith Marketing and Sales, you have the knowledge and experience of our team of professionals to guide you through the good and bad practices of running your business.
Good Business Practices
Refer Back to Your Business Plan Regularly
You probably already know that it’s important to create a business plan. But what happens to that document after you create it and start your business? Typically it sits in a folder and you never touch it again.
We recommend making it a priority to refer back to your business plan to make sure it’s still relevant to what you’re doing in your business.
Set and Revisit Your Goals
Setting goals is something you know you should do, but don’t always make time for. Setting and revisiting your goals is KEY to your success in your business. Find a system that works for you, then keep yourself accountable to your goals.
Monitor Your Performance
Of course, you’ll also need to have systems in place for tracking your goals and performance. Monitor things like website traffic, sales, subscribers, and of course, finances. In order to do this successfully, you need to keep track of what’s working and what’s not.
Be Open to New Trends and Innovations
One of the most important things you can practice in your business is being fluid and flexible to new ideas. This could be anything from new hardware tools to social media platforms. If you keep an eye on these tools and are able to adapt quickly, you can take advantage of opportunities before your competition even has a chance to consider them.
Bad Business Practices
Trying to Do Everything Yourself
It’s common for business owners to think and try to do everything themselves, whether it’s marketing, accounting, HR, or even sales. But there are people out there who can help you if you actually trust them to do the work, you just have to be open to the possibility.
Mixing Business and Personal Resources
Today, the possibility to start a business from home or work on the go with your smartphone and laptop is greater than it’s ever been. However, the blurred lines between business and personal can make things tricky. For example, working from home without a dedicated office space can lead to irregular working hours. And using your personal phone without a business line or app could lead to unprofessional interactions with partners or clients. Our key tip here is to make sure that you take your business seriously and invest in dedicated tools when it makes sense to do so.
Growing Without a Plan
Everyone’s growth rate is different, so it’s important that you have an actual plan for how and when you want to grow, rather than just saying yes to any and every opportunity that comes your way. This goes back to revisiting your business plan and goals regularly to make sure you’re running your business in a relevant way that aids in growth.
Waiting for Perfection
Perfectionism is a major problem for a lot of entrepreneurs. It’s great to want things done correctly, but it’s not great to hold back progress in your business just because you’re scared something isn’t perfect. Instead, set realistic standards and deadlines.
Quitting at the First Sign of Failure
Failure is a natural part of running a business. You’re going to fail at specific projects and potentially even with your business as a whole. But that doesn’t mean you shouldn’t try again.
It is so important to be mindful of where you are spending your time and energy in your business and where you can be making improvements. Sometimes all it takes is someone coming in from a different perspective to clear up your vision and help you see your business in a new light. Our team here at Zenith Marketing and Sales can help you do that and then some. Until next time, we hope you enjoyed this blog on good and bad practices for your business.
Schedule your free consult with Zenith Marketing and Sales to put your best business practices in place!