Owning and operating a business can be an incredibly overwhelming venture comprised of many responsibilities. While paying attention to all the nuances of your company is important, it is equally as crucial to take a step back every once in a while and remind yourself of the bigger picture.
A strategic point of view that you could adopt is differentiating working ‘in’ your business compared to working ‘on’ your business, as described by Michelle Shemilt of Entrepreneur.com. The ‘in’ refers to the day-to-day actions completed in order to keep your business afloat. The ‘on’ is essentially its backup, making sure you have the correct tools and strategies in place for future success, or in other words, the bigger picture.
First, measure your finances from a larger standpoint. This may seem counterintuitive, but allowing your emotions to get in the way of any financial decisions you have to make can threaten to have them ruined. Think about how this decision will affect you in 3 to 5 years from now, and understand that while some decisions may present immediate faults, their end results could benefit the company greatly.
Sales is a department that benefits greatly from decisions made for long-term success. For example, bringing on a new client is a positive, but the best thing you can do for your business is retaining that client for as long as possible. Develop a professional and courteous relationship with them to show how much you value your business. Offer loyalty packages or rewards for those who’ve stayed with you for certain periods of time. This appreciation can go a long way in terms of referrals as well.
All business owners understand the value of good marketing. However, many often make simple mistakes that can end up costing them later down the road. These mistakes are typically caused by inconsistencies. Try to remain as consistent as possible across all platforms. Whether you are running advertisements on billboards, social media profiles, or business cards, consistency, displays professionalism.
Despite being the owner of your business, remember that it is not about you and only you. Your business exists to serve others. Instead of thinking about why you want to offer your goods or services, think about why the customers want these products, and how you can make their lives better. Looking at the bigger picture of it all allows you to centralize your efforts and more accurately study what may or may not be working within your business.