Quite often when people go into business, no one teaches them the fundamentals. This means they are learning on the fly. Building a business is like building any building. You need to put down a strong foundation otherwise it will lead to problems down the track.
In fact, if your foundations are weak, inevitably your business will end up in chaos, particularly around your time and your money. You’ll be working more hours than you need to and the financial rewards just won’t be there.
The reason this happens is that often when a business owner starts their business, they’re good at their trade or their profession but have never been taught how to run a business. They start their business with word-of-mouth and they get up and running. After a while, the business takes off and they start to experience chaos. You may have even experienced this yourself. As you grow that business, more and more problems seem to come at you.
It’s like a great and ancient parable about a wise man and a foolish man…
The foolish man built his house upon the sand. When the winds and the storms came along, his house fell over because it didn’t have a strong foundation. The wise man built his house upon the rock. When the storms came, the house withstood the storm. That’s what you nee to do for your business. You need to build it on a solid rock foundation and not on sand. This means getting things right from the start.
You see, if you build your business on a weak foundation, you’re going to have a very weak business which is often in chaos. You’re be drawn into fixing things and fighting fires all the time. If your business is built on a strong foundation, you’re going to build a strong business and you’re going to have much more control in place.
Here are three things you can do to make sure your foundation is much more solid:
1) Know what you are building
You to be super clear on the business you are building. What will it look like when it is finished? What size will it be? Is it a very leveraged one man operation or a multi-location business. You need to know the size of the business you are building to know the size of the foundation that must be put down.
You also need to get clear on the direction of the business:
- Where are you taking your business?
- How are you taking it there?
- Why are you taking it there?
Get super clear on what you’re building so you can build a strong business.
2) Have a clear plan
The second thing is to have a plan. If you are building a house, you would have a very detailed blueprint, plan and specification about what you are going to build. The same is with your business. If you’re going to build a business, you need a plan. Let me say that again, you need to have a plan. This cannot be over emphasised. Your plan needs to outline your plan of attack. It needs to map out how you are going to go about building your business. Be sure to include the milestones in place to make sure you are tracking your success.
3) Put the controls in place so you can build a strong business
Finally, to build a strong business, you need to put controls in place. You need to put control around your time to make sure that you’re putting time on your business to work your plan. That way you’ll move towards the direction you’re headed rather than being caught up I n the day to day running of things. You also need to make sure that you have financial controls in place and that your business model is right. Too often business owners haven’t really considered their business model and wonder why the business isn’t working for them. Instead they end up working so hard for the business.
You can get your business working so much better for you if your business model is right. Create a business that serves you by making sure your financial model and your product and service model is right. When those controls are in place, as you build your business, your business will be under control rather than out of control.
When you build your business this way you’ll have clarity. You’ll have purpose. Your business will move so much faster, and you’ll build a strong business that you can have confidence in and feel much better about.