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Sunday, May 31, 2009

Business Management Strategy - Discover 5 Keys For Your Business Success

"Linda, how can you say that there are 5 Keys to success in business? Isn't that oversimplifying the issues?"

I am asked that question all the time and I love it. What I have discovered from building my own business, and consulting and coaching entrepreneurs and professionals over the years is this: There really are just 5 elements that determine business success!

How can I say that? Well, it all comes down to 5 points of focus: your market, your product or service, your marketing, your use of attention, and your ability to use others.

Let's take a closer look at these five success factors:

Your Market - You've got know how and there is a market for it. Your first task is to check exactly what your prospective buyers want to pay for and adjust your know how to deliver exactly that. Once your relationships are in place you can propose other 'add-on' services and product. FIRST sell what the buyer wants to pay for.

Your Product or Service - The world is filled with people who share your 'know how.' The difference is in your ability to focus on the solution you are providing and it's match to the need in the market place better and faster than they do.

Your Marketing - The messages you use needs to be in the language of the buyer. Beware being too clever and having them skip right past you.

Your Attention - The biggest stumbling block business owners put in front of themselves is responding to every interruption and distraction. Think you don't? Try turning off your phone and email for 3 straight hours. Measure how much you get done!

Your Use of Others - I define leverage as getting the greatest return from time, attention, energy and resources. There are activities that only you can take care of for your business. Keep your attention on those and leverage the experience and intelligence of others to cover the rest.

Remember, the simpler you view each challenge, the easier the solution you'll come up with. Keep your focus on these 5 keys and you'll out pace your competition and have your customers singing your praises.


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