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Master These Three Key Areas and Watch Your Business Grow
When you first decided to go into business, you probably had big dreams.
Dreams of running a successful company. One that serves your community and provides for your family and employees. Perhaps you dreamt of offering the best products and services in your area. Or, maybe even using your business as a means of fulfilling a higher purpose.
While these dreams are often enough to motivate business owners in the early days, it’s easy to get overwhelmed as the challenges pile on. Then, bogged down in the day-to-day, many leaders lose sight of the bigger picture.
However, you can cut through the noise and reconnect with your initial purpose. You just need a clear path with a focus on what matters most. So, to that end, here are the three key areas of business mastery that will bring your company into its fullest potential.
The Bottom Line of Business
First things first: if your business does not earn a profit, you aren’t going to be in business for very long.
While that may sound harsh – and many business owners can feel uncomfortable focusing on profits – healthy revenue streams are absolutely essential for building a business that can fulfill its higher purpose.
That’s because without sufficient cash flow, you won’t be able to sustain operations. Plus, financial uncertainty can also lead to reactive leadership and poor decision making with your available resources.
That said, improving the financial health of your company is as simple as putting measures into place that increase your awareness and financial literacy. Then, you’ll be able to make better decisions surrounding money and move your business forward.
To start, make sure that you are regularly reconciling your books. Updated books act as a dashboard which displays all of your business’s vitals. And with those vitals readily available, you can’t help but find creative ways to improve your revenue flows.
Beyond this practical measure, you may also wish to reframe the way you think about profits. Sometimes, “profit” sounds like a dirty word. But the reality is that profits are the lifeblood of your business – the fuel – and the more you’ve got in the tank, the further you can go.
Your Business’s Greatest Asset
If healthy finances are the lifeblood of your business, the backbone is made up of something entirely different – your people.
No business exists outside of human relationships. And when you get right down to it, serving others is the entire purpose of starting a business in the first place.
While most business owners understand the importance of customer satisfaction, what sometimes gets overlooked is that customer experience stems directly from employee satisfaction.
Therefore, it’s essential to practice effective leadership skills. To do so, think more in terms of serving your teams, rather than being the “boss” as this subtle shift has a way of leaving employees feeling appreciated and cared for.
Here are a few other tips for maintaining a happy workplace:
- Get to know your employees on a personal level
- Celebrate worker’s successes and contributions
- Tell people when they’ve done a good job
When made the norm, these small personal acts have profound impacts on your teams. And as your work culture shifts, these feelings of goodwill will be naturally communicated to your customers at large.
Remembering Who’s In Charge
While it is possible to run a successful company by attending to your finances and people, alone, that business will not become a path for deep personal growth without a Kingdom focus.
Kingdom-focused business is about building a company that’s committed to honoring God. It’s practicing “business as mission” while striving to serve your community and advance God’s purpose through your day-to-day activities.
To determine the role that God plays in your company, ask yourself the following questions:
- Am I matching my (and my employees’) unique gifts with what it takes to succeed?
- Does my business follow proven Biblical principles?
- Would people be surprised to hear that I am a Christian?
The answers to these questions can help you refocus and reestablish a connection with God’s calling. Then, your work will shine in its best light and become a source of good for all it touches.
Personal Guidance for Realizing Your Business’s Full Potential
By focusing on these three key areas of business – finances, your people and the Kingdom – you’ll be better equipped to make positive choices that move your company forward.
However, having the right tools is not enough. You also need a plan – one that you can follow through with and that gets results. And until you do, the daily stresses of running your business will not change.
Integro’s executive coaching program exists to help busy leaders find clarity and regain their time. And with 20+ years experience helping companies double their revenue in 12-24 months, we know what it takes to build a thriving organization.
To discover what executive coaching can do for you, book your free Discovery Call now. On your call, we’ll get to know you and your business woes and then offer up some potential solutions on the spot.
Your call is absolutely free and comes with zero strings attached. You don’t have anything to lose. So, if you’re to clear up your schedule while putting your company in a position to thrive, book Your Free Call Now