Table of Contents
1.
Know Your Service Offering
Know What You Do Well, and Acknowledge What You Don’t
Knowing what you do isn’t always enough. Humility plays a massive part in your success. Much like the times you need to acknowledge your accomplishments, understanding what you don’t do well or at all, can help keep you laser-focused on your goal setting and ensure you don’t spread yourself thin.
You’ll read multiple times in the upcoming points how it’s best suited that you do not do everything in your business, and the reasons are multi-faceted. Yes, you may know your business or the service offering the best, but do you know how to market it correctly? Do you know how to sell? You may have no development or designing skillset, so it’s proving problematic to bring your idea to reality. These are some of the internal discussions you may have without taking into account where you are as a person. Are you an extrovert that loves being in the forefront to talk about your business at every opportunity and despises being in front of a workstation? Are you an introvert that wants the results of a great network but can’t stand the thought of yourself being the one to do it? There’s no right or wrong answer to any of these questions, and that’s OK!
Knowing what you don’t do well isn’t a negative. In fact, it’s the opposite. You are already on your way to being successful if you know what your own shortcomings are. Putting bums in seats within your business is a lot easier than trying to manage each seat by yourself in a stack, which in turn, could collapse on top of you.
Adding an extra service, or even pivoting your business, could be the straw that breaks your back. There’s no need to rush these decisions.
Not All Shiny Things Are Gold or Silver
We’ve been there, we’ve done it, we’ve learned from it. Trends, much like the passage of time, are ever flowing and changing. Some trends or technology may have a direct impact on your business; it comes with the territory. Your competitors may have done something drastic, and now you feel like you’re behind the curve. You may even hear that this new ‘in’ thing is the future of your industry.
Only time will tell, and based on time being the judge, we wholeheartedly advise you to take due diligence when making decisions that could create not only new hurdles but apply more implications too, Knowing What You Do Well and Acknowledging What You Don’t. Funny that, eh?
Adding an extra service, or even pivoting your business, could be the straw that breaks your back. There’s no need to rush these decisions. In our opinion, it’s much better to let trends simmer if given the opportunity, and when they’ve proven their worth, include them in your services or marketing campaigns. Are you doing a full pivot? Well, that’s just dandy, but ensure you’ve done all the background checks you need for this move to be fruitful. There’s truth to the ‘Tortoise and the Hare’, and knowing what you do best before what the industry thinks is best is the gem we’d like you to take away from here.
Unless, of course, you work in the Stock Exchange, we wouldn’t want to be responsible for telling you to slow down and take a breath there.
Be Aware of Drastic Changes in Your Market/Industry
Gravitating towards new trends and being mindful of drastic changes in your industry are two different things. Awareness is key.
If Google decides they are going to release a new way of ranking or change the setup of their ad spaces, we (VOiD) have to be in the know, even if at that moment we can’t action anything. It could affect us, or the change could affect our clients. Staying clued up and being able to pass that knowledge on effectively minimises risk, reinforces our authority and makes sure we can plan to adapt to the upcoming situations at hand.
This can be applied to any market, sector, or industry, be alert and assess the situations that are presented so that you and your clients aren’t the last ones to know. No one likes spam or constant nudges via email, but newsletters are a great way to stay in the know from reputable services or authorities. If you use a messaging service such as Slack or Discord (this is a non-sponsored post btw), you can use RSS feeds in channel discussions to see the latest news/blogs from the entities you trust. Being aware hasn’t got to be a hassle; find the best way for you to get that information and build it into your workspaces.
2.
Surround Yourself with the Right People
Sounds easy enough, right? Well, let us be the first to tell you if no one else has, not everyone you cross paths with will rub shoulders with you for the greater good. That goes from peers to employees, to clients, to investors. Do we say this so that you scowl and growl at everyone that takes an interest in your business, absolutely not (although the results of that may be hilarious).
Depending on how you started out or where your business is currently, advisors can take shape in the form of business mentors, networkers or even service providers.
Finding a balance between being open-minded and scepticism is tough but necessary. Sometimes you’ll be taken for a ride, thus is the nature of business. However, learning from the experiences is what matters the most. If you truly believe in your service offering, then working with, as well as for the right people is key. All CVs don’t tell the whole truth, and not all money is good money, but having processes in place to minimise risk and allow you to assess your business from an over the top view so you can get the right people in the right seats to help your business grow and work with the right clients and customers in your target demographic is the reward of perseverance as well as trial and error.
Having the Right Advisors and Support Network Can Help Your Business
It’s as easy as a genuine email query, a casual phone call, or an introduction at a networking event. Contrary to popular belief and how we’re programmed to perceive one another on a daily basis, it turns out other humans aren’t that bad; who’d have thought? So with that being said, there are ways and means to get the advice you need from reputable sources, but please just remember to use manners and say thank you!
Depending on how you started out or where your business is currently, advisors can take shape in the form of business mentors, networkers or even service providers. Remember when we said that it’s best not to do everything in your business, well the people you use to fill the gaps should also be seen as a source to harvest knowledge from when in doubt or just curious.
Another way to think about who is actually in your support network other than those above is, if you have qualified a client and they meet your needs to allow you to do your job, then they’re probably on the correct wavelength for you to approach and converse with. Use those you’ve helped to ask questions where you see it applicable, you never know the opportunities that may arise from it.
Like-Minded Businesses Aren’t Always Competition
3.
Outsource the things YOU Are Not Trained in
- Payroll
- Tax compliance
- Business setup compliance
- Tax planning and advice
- Bookkeeping
- HR (Human Resources)
- Employment is a mine field and you need to make sure you are in compliance with legislation. A HR service can help with employment contracts and keeping you in the know of what needs to be done when dealing with people.
- Brand Awareness & Social Media
- Social media is its own beast and can be utilised by anyone for their business to gain traction, but that comes with the responsibility of competing with algorithms.
- Web Advertising and Targeted Search Engine Opportunities
- Google, Bing, Microsoft and LinkedIn Adverts, just to name a few, all need constant attention to manage the amount of spending depending on multiple factors.
- Each service differs in its approach and application of assets.