How often do you find yourself getting caught up in all the detail and technical work around running your business? As a consequence, what opportunities are you missing to increase your profits and business success?

 

 

It’s easy for business owners to get caught up in day-to-day operations. Being a business owner, for most people, means having to manage, do the technical work, and fire fight each day. As a coach, my goal is to ensure you use your time is spent growing the business and increasing company profit, as your time is most valuable here. Nonetheless, it is easy to get blindsided when we get caught up in our daily activities, regardless of our industry. You could be driving down the road of success and missing your turning. You never know unless you can identify your blindspots.

 

Missing New Opportunities

With innovations such as the digital capabilities now available, there are often new methods that can be implemented into businesses that can save time, money or increase sales revenue. Because of work activities each day absorbing business owners’ time, these ‘low hanging fruit’ items can easily be missed. This leads you to work harder than you actually need to be working. Why get less from more? What low hanging fruit is in your business that perhaps you are not yet aware of?

 

Getting Distracted

On the other hand, new innovation can also be a distraction. When business owners get distracted with new ideas they lose track of the original goal. This leads to the feeling of going round in circles. How do you know what the best options are for your business?

 

Be Open To Feedback

The biggest danger to any business owner is an ‘I KNOW’ attitude. What does this mean? It means you’re not open to new learnings coming into the business (and you), and it creates a culture in your company where your staff can’t communicate with you. Be open to feedback from your staff. Remember you are the leader playing the game at a high level, but you are not super human. Sometimes your employees may spot a trick or two that you are missing out on.

 

Leave Your Ego At The Door

Just because you own the business does not mean you have to be Superman. Leave your ego at the door. Your business can not grow if it relies on you to do all the work. You have 24 hours in the day. As your business grows it will need more than 24 hours of work per day. This means that for your business to grow you need to build a team and let them do the work so that you can take care of the important stuff—growing your business!

 

Know Your Weaknesses and Your Strengths

We all have weaknesses and strengths. It is not helpful to think that you’re the best at everything. In fact this is harmful to your business. Know your own weaknesses and improve on them. Even more importantly, know your strengths and work on them too. Research studies have shown that working on your strengths is more effective than working on your weaknesses. Remember though, you are the business owner, you should be employing people that are better than you anyway.

 

Staying Accountable

A great tip for not missing your blindspots is having someone keeping you accountable. By having someone keep you accountable to your goals, they will point you in the right direction, advise you on the correct new strategies to take, and ensure you are not falling out of the boat so that you get to where you want to be faster.

 

Try to consciously make these changes in your business each day. As a business coach, it is my role to ensure that clients are on track towards achieving their goals month by month. These tips are just a few of the basics that have helped them develop their businesses and are universal between my clients that are at £300,000 to £30,000,000. If you want to find out more, you can read about how clients have utilised these principles to grow their business profit at https://actioncoach.co.uk/andy-hemming/success-stories/

 

To your success,

 

Andy