6 Aspects of Business Part 1
Business Lift
In Effectiveness, Leadership Posted October 09, 2015
I am always picking up new methods of refining and improving business – both mine and others’. These days, I do my best not to make decisions in my business based on emotion. I make decisions based on these 6 aspects, in the order listed. This works, and that’s what counts. At first, it might seem that the order is incorrect, however, please don’t make up your mind until you’ve heard me out.
There are 6 Aspects of Business…
1.Leadership
2. Positioning
3. Marketing
4. Sales
5. Systems
6. People
These 6 Aspects of Business are fundamental to how I see business strategically. This means long term, sustainable and profitable decisions that benefit the most number of people – and in a way that is able to be replicated time after time.
1. Leadership
Your business is intrinsically linked to you. It reflects your energy, your mindset, your attention and focus, and your style of communication. Good or bad, everything about you determines how well your business will do.
There are some key elements that I believe must be present and strong in leaders of their own businesses…
a) Leadership Traits: Decision making
You must be great at making decisions. Practice is essential. The more decisions you make, the better you’ll get at making them. It’s like working a muscle, which gets stronger with frequent, regular exercise and weaker without the same. Consider asking some great questions, such as “What actions are going to provide the maximum benefits to the business right now?”
Is the decision…
-Sustainable – can we keep doing this and will the business benefit?
-Replicable – can others replicate these results, or is it only me?
-Useful – does the decision actually assist us in achieving the outcome we’re seeking?
-Purposeful – does the decision stay focused on where we want to get to or is it just another short-term fix, like a Band-Aid on a bullet wound?
Decision making needs to be consistent to the vision for the business – so your vision needs to be understood clearly by everyone in the business.
Reality is, decisions are sometimes hard to make! Often you’ll need to go against your feelings and get that tough stuff done, like those high payoff activities.
The good news is that these decisions will propel the business forward. They will strengthen systems, unite your team, and ultimately build profits.
When there’s a choice, make the right decision for the business – not the decision that simply feels good. I’ve noticed that my feelings can be unreliable, as they are all about me being comfortable, safe and protected from change – what about you?
b) Leadership Traits: Commitment to Completion
Why do so many small businesses fail? I think a lot of it has to do with quitting too early. It is said that it is darkest before the dawn… and I’ve seen this with businesses too. Often business owners start out with lots of enthusiasm and energy, but as the months go by, when times get a little tough and hard decisions need to be made, and they’re under pressure and lack margins in both their finances and their energy – that’s the time when energy wanes, and they say “maybe all this business stuff isn’t for me after all”, and give up on their dreams.
Again, this is where the vision of the business is so important. It’s not a time to give up, but to push forward. Decide that because it’s hard, it is worthwhile. If it was easy, everyone would do it. As a leader – this is the time to lead. Especially leading yourself!
It’s not helpful for a leader to talk about tough times or to complain. It is a leader’s role to lead, and lead from the front – setting the standards that you want others to follow.
c) Leadership Traits: Sustained Attention
A leader has to separate him/herself from the pack and stay focussed. Many can’t keep attention longer than a child. It is important to stick it out. Long after energy and enthusiasm are gone, sustained attention is needed.
Sustained attention means doing it, not talking about it, but taking action until it is completed. Sustained attention means keeping it up even when everyone tells you “it’s far too hard”.
We are discussing leadership – so we are not talking about having an average business, but a great one. This is what outstanding leaders do, and why they stand out.
d) Leadership Traits: Plan for the Worst, Hope for the Best
Be optimistic by all means. I consider myself a realistic optimist. Being realistic, I take time to consider “What can possibly go wrong?” and “What is this going to impact that I need to be prepared for?” Is there a blind spot? Who’s been there before me and could give me some insights – especially when bringing to market new products and services? Leaders anticipate the consequences of their decisions, both positive and negative, long-term and short-term.
e) Leadership Traits: Believe in Yourself
I know for me, I’m better today than I was yesterday – green and growing rather than ripe and rotten! Leaders don’t beat themselves up with the mistakes of the past. I’ve chosen to believe that there is no failure, only feedback. This is empowering, and allows me the freedom to make mistakes in order to gain the feedback and thus improve! Always see yourself and your abilities more optimistically than past results would indicate.
Are you leading your business? If you aren’t – who is? Take the reins, step up and lead! Look for Part 2 of this article for the other 5 Aspects of Business.