Dig Your Small Business Rut
By: Don Osborne
Many small business owners are either all over the map in their business activities or trapped in a routine based on what they love to do. Neither approach is the best way to achieve your business goals or enjoy a high level of personal satisfaction. Surprisingly enough, the solution can be found in creating a productive rut and sticking with to it day in and day out. What areas of your small home based business can most benefit from digging a rut and staying in it?
Time
Time is a daily occurrence. The small business time rut you need to dig and stay in focuses on allocation. How you use your time is very important to your immediate and long-term business success. Are you in the rut of allocating how you will spend your time or what you want a block of time to accomplish? If your time allocation routine is sporadic and not daily you may be wasting not only time but also what you could have accomplished with it. The concept of good days and bad days often stems from poor allocation of daily time. As a small home based business owner you may cherish the idea of working for yourself and doing what you want with your time. But, if you don't get into the habit of allocating the use of your time on a daily basis the rut you'll dig may lead nowhere rather than to your ultimate success and profitability.
Money
Tracking the flow of money is an important rut to dig. The idea of a "penny earned is a penny saved" points out the value of keeping track of money. If your small business doesn't have an easy system for entering and tracking your income sources and expense categories, you may be digging a rut of financial crisis rather then of increasing profitability. All too often, the only time a small business owner knows where they stand with money is at tax time. The idea of knowing exactly where you and your business stand financially is critical. Keep the money rut shallow through daily tracking or it may get so deep you'll never climb out of it.
Marketing
Constantly developing customers is a great rut to be stuck in. There's no aspect of your small business more important than creating daily sales results. To mine a river of gold you have to dig every day. For a large percentage of small home based business owners sales is their least favorite activity. Therefore, the activities associated with it are shoveled off to the next day for many days in a row. Before you know it, a huge amount of time has gone by and you've dug a financial hole rather than a steady stream of cash flow. Make sure you dig a marketing rut wide enough to accommodate the right number of sales to shore up the sides of your rut so it doesn't all cave in on you.
Knowledge
What you don't know could bury your small business. The only way to dig yourself out is to learn something new every day. The knowledge rut is very important. The challenge is one of impact. Learning something new every day on purpose doesn't always seem like a good use of time because it has no immediate return on investment. When something happens in your small business because you didn't know enough to prevent it you might say "I wish I'd known more about that". When you learn something new and don't use the knowledge immediately, you say "That was a waste of time". But, the best advice is "Dig the well before you need it". Dig your knowledge rut daily. It may be the only path out if you get caught in a landslide.
There are certain small business routines that you need to dig at daily. There are other routines you need to fill in and stop digging away at. As a small home based business owner you probably have a good sense of what you do daily that's leading you nowhere and which ruts you should get stuck in. Time, money, marketing and knowledge are a few good small business ruts to dig daily.
Don Osborne authors The Profit Puzzle course to help you plan, finance, start up, run, grow, sell your small home based business ideas. The web site's small home based business directories link articles, books, courses, products, services, web sites, blogs, and software covering objectives, management, finance, personnel, marketing, operations, production and resources. For your Free 32 Ways to Maximize Your Profits Check List: http://www.profitpuzzle.com |
