KLP Consulting, LLC - October Expert Article

The phrase, “work ON your business rather than IN your business” is familiar to any small business owner.  However, the steps and actions of how to get there are not.  The following tips will perfectly position any business owner squarely in the “ON” position.

Tip 1: Fall in love with measuring and reporting.

Measuring and reporting are the only actions that can definitively tell you how your business is doing by allowing trends (favorable or not), to become visible when tracked over time and compared regularly.

• Things that get measured are the things that get DONE,
• Things that get measured are the things that get managed,
• Things that get managed are the things that get reported, and
• Things that get measured and reported compel intentional action and GROW YOUR BUSINESS

Starting TODAY, measure:

• How many calls have you made?
• How many emails have you sent?
• How many texts have you sent?
• How many sales/conversions did you make?
• How much reading did you do?
• Other business specific activities?

By tracking each of these daily, weekly, etc., the areas in need of focused management will be highlighted.  With deliberate management, the cycle of measuring and managing will undeniably lead to meaningful reports, not “TPS Reports” that no one will review.  These reports will show the positive growth your business has experienced because the things that got measured were the things that got done.

Tip 2: Follow the 80/20 Principle

Small business owners often feel overwhelmed because they’re trying to do everything. But not all tasks, clients, or products have the same impact. When you focus your time, energy, and resources on the 20% that’s working best, you move faster and smarter.

Resulting in:

• More revenue with less stress,
• Less wasted time and money, and
• Faster growth with fewer distractions

Starting TODAY, focus on the:

• 20% of your customers that generate 80% of your revenue,
• 20% of your products or services that create 80% of the profit,
• 20% of your marketing that brings in 80% of your leads, and
• 20% of your time that produces 80% of your progress

Stop gambling with your business and double down on the 20% by doing more of what works.

Following these two tips and being intentional with actions when showing up every day may seem like more work in the beginning, but the visible progress will create an insatiable appetite to measure activities in your business and focus on what is working.  Seeing the results provides clarity and understanding of what is needed next to continue growing your business. 

Be warned, many times, business owners are surprised at the results of their measurements – they have been focusing on the wrong things.  Having real information and shifting focus to the right things enhances motivation and is the conduit needed to begin working ON a business, rather than IN.