In this article I am going to reveal what you must understand if you really want to turn around and make 2023 the best year for your company.
First I ask you to think and quickly write the answer to the following question: If you could only make one wish for your company, what would it be?
You’ve probably thought about more customers, more sales, your employees being engaged, or having more time for your family. Is it so? Then you are reading the correct article.
Let me show you some of the statistics found in studies we have carried out on more than 500 companies.
- 85% of entrepreneurs work between 40 and up to 70 hours a week and fail to achieve the level of sales and performance they desire.
- 94% of the time, the business depends on its owner who sells and they depend on him to survive.
- 82.3% simply do not know how to interpret finances and therefore do not keep an administrative accounting of it.
- 65% have hired people from their family, because they say they do not trust others.
- 78% report that their collaborators are not engaged at the level they want.
- Almost 40% have not taken a vacation for more than a year.
- 97% if they get to take a few days of “rest” they do it accompanied by their cell phone or laptop in hand to keep up to date with what is happening.
- Almost a 3a. Some of you have lost the passion you felt for your business in the beginning.
- More than half, 60%, feel alone, not being able to share their problems at home and with their collaborators.
Do you identify with one or more of these statements?
How to make this 2023 the best year for your company
In my career as a business coach and consultant, I have dedicated myself to supporting companies to achieve basically two objectives: sustained double-digit growth and making entrepreneurs enjoy their personal lives more. That is, that the business works for him, and not vice versa.
But, where should we start from so that this 2023 is the best year for your company? It’s very simple, it works TO your business.
What does this mean?
1. Modify your belief that your company is for you
I would love for you to share it with me, but come on write it down! It looks something like: Is it my way of life, is it my dream come true, is it a headache, is it a constant challenge from the people who work in it, is it my job? Or maybe, outright, is it a nightmare, an emotional drain, or what doesn’t allow me to sleep or take vacations?
For me, a business is an “Intellectual Sport, generating free cash and working for the owner”. It is not a magic wand. You have to work more intelligently, remembering the teachings of Michael E. Gerber, in his book The Myth of the Entrepreneurr, it’s about work TO your business and not IN your business,
It is a sport because it has rules, because you have to practice it and with a coach it will be easier to learn and carry it out. It’s intellectual because it’s not just about putting in your best effort, it’s about generating cash and not just profit.
Many owners get upset when the accountant determines and tells them that they must pay “x” money for the profits they generated, but they don’t have the money to pay for it and they work for the owner. That is, he has established the systems and has a self-sufficient team capable of managing it, so that the owner is aware but not immersed in the operation.
Well, let’s take a closer look, if you want to make 2023 the best year in your company.
2. Understand very well that a business is an intellectual sport
An intellectual sport means that you are going to THINK. think about what?, critically weigh in a plan to take your company to the next level, but…, “how lazy!”, “I made a plan and it didn’t work!”, remember that there are 3 obstacles that stop you , fear, laziness, and/or self-confidence, which of these is the predominant factor in your life and in your business that stops you from achieving everything you dream of? And above all, if you solve this problem, how much more could you be generating?
3. Think of a PLAN
Use the word PLAN as a verb in your day to day, not as a noun and something immovable. Let’s see in more detail how to create the PLAN:
The first thing you should know is the starting point, what is point “A” where I am? For this, it is best to do it by answering critical questions about your current situation, what opportunities do you see in the near future? for your company? What obstacles do you have in your business today? Do you have the right people to take you to the next level? Does your product or service have a place in the current market and context or are you still selling DVDs? What other weaknesses do you present today? Do you have and understand your financial statements? Is your marketing plan solid, reliable and generates the # of prospects your company requires? Are you prepared to face the challenges? With the leadership that your organization requires? Do you have the skills to adequately recruit, direct and develop your people?
If the starting point “A” is clear, it is time to develop your “B” the arrival point, the one you want to have.
Your point “B” requires three elements:
- Strategic objective
- well defined purpose
- Clear, detailed and flexible plan
Your strategic objective is the tool developed for SMEs, it is not the vision of large corporations, it is your five-year objective perfectly well developed with a methodology involved.
Among the aspects that you are going to answer are: what is the role you are going to play within the organization?, what products are you going to handle?, how much will the business invoice?, in which markets will it operate? Will they be your collaborators?, etc.
Your purpose is why you exist, what is the fundamental reason that gives meaning to your organization? And don’t tell me it is to make money, that is a consequence, as Simón Sinek says, the most powerful organizations in the world They are very clear about their why and they communicate it. It is important that your collaborators identify themselves, work with an ideal, focus, as well as that your clients want to be part of that organization, its culture, its values, its way of doing things. things and why they do the things they do.
You will do your clear, detailed and flexible plan for the coming year by being very clear about the two extremes, point “A” and point “B”, since the plan answers the question: What is the best path?
The path, the plan, contains several elements that you should consider, based on the main responsibilities you have for being in charge of your business:
- Generate and grow profits
- Develop your work team
But how will I grow and develop the business if I don’t grow and develop first as a leader?
Part of its development will be through five very important aspects to move forward and it basically consists of answering what should I leverage the business this year that is beginning? Let’s remember that leveraging is being able to do more and more with less effort, and this I can achieve:
- Using better technology,
- Documenting the tasks that allow you to better identify and operate,
- Relying on the best trained collaborators,
- Have the information to make better decisions,
- Develop your marketing and sales plan that allows you to grow in a predictable way.
I mentioned at the beginning that there are three obstacles that stop you from taking the next step: fear, laziness, and/or self-confidence. I also said that this is not a magic wand and it is not for everyone. It is for those who are willing to participate, to give their 100%, to focus and achieve a permanent change in their lives and in their company. Don’t allow yourself to fail by not participating. I really invite you to commit yourself this year, and face the challenges in front of you in a different way.
The reward will be huge.
Jorge Arturo Chavez Entrepreneur, business coach and executive coach, speaker and author of the book: “Grow your company, dare!” best seller on Amazon, where it embodies the training discipline that every business owner must maintain.