As business coaches through our one to one sessions, we have come to notice that time and time again a common theme keeps occurring with many of our clients who are not where they wish to be in their business! What is it, I hear you ask…. Well, with us always being a sucker for investigating patterns we decided to look a little deeper into their respective business models and we started to notice a core trend, which tended to be focusing on the wrong things which in turn resulted in making common business mistakes repeatedly.
It is funny because it just requires a few tweaks to be on the right path alongside consistent action; however often a fresh pair of eyes is all that it takes to help fill in the gaps.
Here at 1 Less Stress Connect, we have developed a blueprint for success with our four-part business model, something we implement within our business and that of our clients. The model follows these simple but highly effective steps.
- Lay the right foundations
- Create a scalable business
- Build strategic relationships
- Develop your entrepreneurship
During this article, I am going to highlight the top 5 things you should avoid doing to build a strong foundation for your business so you can ensure business success time and time again.
#Mistake1: Not having a Clear Business Planning
So one of the things most people do is start a business solely based on passion, whilst not having clear enough business goals. You would be surprised how many clients we asked what are your income goals for your business at the end of the year, very few are clear on this. We need to understand where we heading then we can work backwards and determine the milestones needed to achieve these goals. Top tip passion will only bring you so far just like a car reliant on fuel it will run out at some point so make sure your road map for success is crystal clear and in place.
#Mistake2: Not dedicating time towards Mind-set & Habits
Many growing their business make the old age mistake that mind-set and habits are skills they will develop later merely as an add on after they have grown successful empire’s. Often believing they simply do not have time to work on their mind-set or develop better habits.
The problem is just like a child emulates many of their parent’s habits, mind-set blocks and traits, your business will do the same. So make developing your mind-set and your daily habits a priority. As they say success leaves clues and all the most successful entrepreneurs continue to make this an area of priority and not an afterthought as they understand this is a large chunk of how they will continue to create business success.
#Mistake3: Not having a Workable plan
Most people tend to have a generic business plan an idea how they will run and deliver their business, the problem is the plan is often not bespoke and does not fit with your business or your lifestyle hence why it is not working for you. Many of our clients are still working full-time whilst growing their empires and their business plans need to be adjusted and ensure working on their business is a consistent priority alongside the other commitments that reside in their life. So make sure your plan highlights time blocked out when you are working ON and IN your business!
#Mistake 4: Not Having the Right Systems
Not having the right systems in place from the get go means your business areas are going to be working in isolation. We all know that there is strength in numbers, by this I mean your business has many functions and systems just like your body, i.e nervous system, respiratory system unless these systems work together you do not have a healthy body just like you will not have a healthy business. As boring as systems may be, avoiding it will only put your business at a disadvantage.
#Mistake 5: Plan the money
The early stages of starting a business can often be draining on the bank balance, and not bring in the return you had imagined. Fear not if you take the right action daily this phase will not be a season you will be in for long, however you need to be prepared and planning the money is a big part of this. You have to know where every penny is being spent and where every penny coming in is from. As obvious as this seems it is the area most business owners neglect as they are busy with so many other things, but it is vital you get a hold of your cash flow.
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If you would like to book a complementary 30 minute power call to discuss were you are in your business and receive some quick win strategies you can implement straight away then book a call here: http://1lessstressconnect.co.uk/power-call/