Hello and Welcome to Business Success Tip # 6!
Lets get started – at the very beginning. Seems logical but for many people in business, they don’t start at the beginning. They start somewhere down the road, assuming their idea they came up with is just going to work out. They believe all they have to do is just run a business now, based on their idea.
Some businesses run for 15 years but the owners never really, ever got started. They remain self employed and hover just off broke for most of their business careers. There are many contributing reasons for this. Today’s topic is one of the major instigators for this common flaw that results in businesses running at low profits and low cashflow, year after year.
Do you have the correct skills to make your business profitable? More importantly, what skills sets are you missing that your business requires to be profitable and successful.
“So many businesses fail, not because the idea is flawed but because the knowledge to build a business does not exist. You need knowledge to ensure your ability matches your ambition” – luke
Think of this like driving your car. It needs fuel, a steering wheel, 4 wheels, a healthy engine etc. If there are parts or “gaps” are missing , you are hindering your journey!
So here are your Take Away Action Steps for this weeks Business Success Tip.
- Make a list of your skills (or your strengths) (Eg: customer care, admin, negotiation, organising, team motivation, delegation etc)
- Next to your skill set list, make a list of all the skills required to make your business work profitably (Eg: Sales acquisition, marketing online, growth strategies, leverage infrastructure etc)
- Hi light in the same colour the skills that match on the two lists. What you are left with is your “gaps”. These gaps are key indicators to underlying, everyday problems in your business.
- Plug these gaps so you can truly give your business a profit boost and prevent it from limping, year after year!
Until next time, I wish you the very best!
Luke
