Of all the moving parts in motion in your business, which ones have the greatest impact on business success?
For instance, if you truly wish to move the needle on your client base and revenue, what success factors must you prioritize?
Multimillionaire and Author of Secrets of the Millionaire Mind, T. Harv Eker has tried many different strategies, some of which were highly successful and others that left much to be desired.
Today you’ll learn more about the business success factors you should consider to avoid making the same time consuming mistakes he did.
To create a successful business you have to ask yourself a number of questions.
If your highest value is revenue as an example, you must consider the parts of your business that make the most difference towards your revenue.
What is it for you?
Is it generating leads?
Is it to have a good or easy sales process?
Or is it to know how to close and sell your business eventually?
Those critical factors which lead to business success, or success in anything really, are the very practices you should invest more attention, effort and time into.
This leads to a greater return on investment across the board.
As an example, including legal services might not add value to your business success transformation.
But including systematic marketing or lead generation systems instead could be exponentially transformative.
Adding a referral generation system could also favorably impact your business success and can be a cost effective way of increasing your business success overall.
What these examples demonstrate is receiving big returns on when and where you invest your energy.
Here are some fairly broad business success factors that bring the kind of music to your ears that you’d like to hear:
So compare each item on this list of business success factors to the list of things that you find frustrating in your business, or to the factors you consider of utmost importance to you.
If revenue is your highest value, then lead generation would be of greater importance to your business success.
But if customer service is your more vital component, then top notch recruiting would be of more value to you than lead generation.
There’s no one-size-fits-all solution.
Your criteria selection may vastly differ from everyone else’s, so you determine your criteria first.
Then you go through the list of factors and consider… “What are the pieces that are most important to achieving what I desire in my business?”
Make no mistake, the list above is by no means all-inclusive, and you will have to contemplate many other options too, depending on your specific business.
Once you’ve determined your criteria you can start looking at how to systemize the process you’re focusing on, that is permanent.
And the hardest part’s done.
You may wish to revisit your critical business success factors every six months or so - don’t do it just once and become complacent thinking you won’t have to make adjustments along the way.
However, doing this in the first place is essential in creating the very systems that not only grease the gears of your business for sleek performance and optimal function, but also the reasons you started doing all of this to begin with.
This simple process assures you of more time, more profit and in a while, more freedom from the business, so that you can do whatever it is you truly wish to do.
If business success is important to you, knowing what your criteria for your promise on delivery is and focusing on the aspects of your business that will support business growth in the area you value most, form an essential part of your strategy.
Take it step by step, and start systemizing the vital parts that you’ve identified as crucial based on where you’d like to excel first.
Rinse and repeat.
And if you’re not sure how to go about it on your own yet, then you’re invited to discover the 6 proven principles Harv used to from broke to rich in this free “Zero to Multimillionaire” web class that you can register for by clicking here.
Has your Mind ever wondered…
The definition of success is the achievement of a predetermined goal.
If you’re not in the habit of planning, learn more about how to set and achieve goals so you can kickstart the transformation of your business.
If you’re not aiming at a target, you’ll hit anything and you won’t know whether or not it was what you inteded to achieve.
You plan business success by knowing what you’re aiming to achieve and which areas require more time and effort.
And of course by taking action on the knowledge you acquire while planning your growth strategy.
The action you take will be to implement effective business systems in the aspects of your business that improve the areas you determined as critically important to your values.
Know your criteria, objectives and targets.
Compare what you’re doing to the list of factors in this post and consider which other factors also play a critical role in what you’re aiming to achieve.
Take action to systemize your business processes.
To offer high quality solutions and generate repeat business are two essential keys to business success.
However, there are some things you should know to help you arrive at where to focus your efforts and effective leadership is an essential tool in formulating the strategy for business success.