It’s finally summer, and while you may envision spending time on the beach, now is the best time to begin growing your business and preparing for the busy autumn months ahead.
As entrepreneurs, we wear many hats to accomplish a variety of tasks throughout the day. There are so many things we have to do IN the business – taking care of clients, bookkeeping, and handling production – that it limits time to work ON our business; a key determinant to the high failure rate of first-time business owners.
And why is working ON your business the key to success?
Because working ON your business means looking beyond the day-to-day hustle and planning for future growth. It requires monitoring your output frequently and adjusting your tactics. If you want to grow your business, you need to spend at least 20% of your day, month and year working ON your business.
As the summer months unfold most people are away on holiday, this is an opportune time to begin measuring your success and creating tactics for future growth.
How To Work ON Your Business This Summer
You have little time in the day to go on a coffee break, let alone for business-improvement. So here are 5 tips on how to set aside 20% of your day, week, and month to begin growing your business during the summer months.
1. DAILY: Sit in silence and reflect on WHY you do what you do.
Whether you are looking to end world hunger, support women in business, or enact significant legislative change, there is something that drove you to start your business, to do what you do.
- Reflect on your WHY and your passion.
- Sit and envision the outcome you want to achieve and what needs to be done to make that happen.
Tip: Read up on how to find YOUR WHY in business.
2. WEEKLY: Get out and TALK about what’s important to you, what you do, and your business.
Talk business with other people in your industry, or people in similar (or accelerated) growth stages, to help you view your business from another perspective.
- Networking groups are great for staying connected to your industry.
- Masterminds deepen the conversation and commitment to growth.
- A coach will help you to stay focused on the bigger picture.
Tip: Find out if a Mastermind Group is right for you.
3. MONTHLY: Set monthly business development goals.
At the beginning of each month, write down the actions and/or outcomes you expect to attain by the end of the month. For example, your goals may be to:
- Add 1 client to your business.
- Attend 4 industry events.
- Design a new offering for potential clients.
- Write down your goals and post them where you can see them every day.
- Create a schedule that accounts for the time you’ll need to create action plans for your business development goals.
Tip: Follow our tips to decluttering your business, using the Marie Kondo tidying up method.
4. MONTHLY: Plan your next month’s marketing intent & goals.
You can be the best within your industry, but it will go nowhere fast without your audience knowing about you and your brand. This is why a marketing plan, updated monthly to stay relevant, is crucial for your business. Each month, think about:
- What is your vision? Do you want to have a theme, focus on a particular topic?
- What goals do you want to achieve with marketing?
Tip: Read our 5 steps on how to write a profitable digital marketing campaign.
5. QUARTERLY: Review and update your business plan.
Business plans are living documents. They are not a document to write once and then put away, never to be seen again. Your business plan will grow and change the same way you and your business will.
- Your business plan doesn’t need to be a huge, cumbersome document. It can be a couple of notes about what you are inspired to do and how you are going to do it. Choose a What, When, Where, How and Why format.
- Take time every quarter to look at your plan, see where you are in relation to your goals, and assess how your plans are working out. What needs to shift? What do you want to do to adapt?
Tip: Read up on how to write your business plan in 5 easy steps.
Taking time to work ON your business will help evaluate your strategic goals and ensure you are growing your business. Beginning these habits in the summer, when most people are away, will prepare you for when autumn begins and work becomes more demanding.
Need Help Planning Your Business Goals?
We provide individual business coaching and group masterminds to suit every stage of your business and plans for growth.
Contact us for a free 30-minute business coaching session and to review what options are right for you.