When meeting new clients, I often hear the same question: “How can I take my business to the next level?” Some even ask if there’s a checklist or template to make it happen.
Unfortunately, there isn’t a one-size-fits-all set of tactics that works for every business. However, there are a few essentials that every business needs right away — a business banking account, a way to track income and expenses, a dedicated workspace, and so on. Once these basics are covered, I always suggest that business owners create their own customized checklist of “best next steps” and tackle them one by one.
Here’s where I recommend you start: focus on identifying existing problems (and be honest about what it will take to fix them).
I know this may sound counterintuitive. Most business advice focuses on tools and tactics designed to grow or improve profitability. But in my experience, until you fix the underlying problems, you’ll be investing time and money in the wrong areas.
Problems Slow You Down
As your business grows, your existing problems will only grow with it if left unaddressed. When that happens, you’ll find yourself overwhelmed with new work but unable to keep up because your current systems and ad hoc solutions won’t be sufficient.
Here are some common problems that can escalate as your business grows:
- Your email inbox: If you’re struggling to manage your inbox now, imagine what will happen when your business doubles or triples in size. The volume of emails will increase, too. Start by developing a system to manage your inbox now before it becomes a bigger problem.
- Your contact list: You might have business cards scattered on your desk, contacts in multiple email accounts, and connections on LinkedIn and Facebook. Right now, you might be able to keep track, but as you grow, especially with new information coming in, it will become overwhelming. To avoid this, centralize all your contacts in one place — use a CRM and keep it updated.
- Your finances: Whether you’re selling a product or service, you need to know if you’re making money. When you’re just starting out, you might not worry too much about profitability. But as you get busier, you need to ensure that your efforts are financially viable. Take the time to sort this out or hire a financial professional to help you.
Remember, every mess is unique to the person who made it, but they are all fixable. Make a list of your current problems and prioritize them based on how much time and money they are costing you and how much they are holding you back.
Then, either hire help or create actionable steps to tackle them one by one. By clearing these obstacles, you’ll position yourself to grow more efficiently, work less, and ultimately make more money!