The Five Things You Must Think About To Improve Your Business
Regardless of whether you are a one man business or if you are operating a company with staff on the payroll, as a business owner, being a strategic thinker will benefit your business. I do not mean taking a look at your business from 50,000 feet. Strategic thinking involves focusing on the things you need to do in order for your business to succeed.
In this case, how you think is just as important as what you think. When requested, I provide consultation on how to go about implementing systems and procedures for small businesses. Often times, small business owners want to implement a database system or an inventory system without understanding how it will impact their operations. In many cases, it is not about the system you use, it is about how the system can improve your operations.
Inventory systems, Point of Sales systems or any database systems is only effective if you have a clear direction of how it will improve your business. Tracking your inventory can free up cash for your business, as well as identifying and controlling wastage or pilferage. But it is only effective if you have standard operating procedures and metrics to measure your effectiveness and efficiency. Otherwise, it will cost your business money and will not deliver the benefits you are looking for.
Five Simple Steps To Becoming A More Strategic Thinker
Five simple steps to becoming a more strategic thinker written by Rich Schefren details the 5 steps you can take to improve your business and positioning. One of the key issue he asked is “What is the fundamental key to building massive success?“, he states it is “The ability to Think Correctly“. Having been in management for more than a decade, I concur with him. You can call it problem solving skills or decision making skills, it boils down to the ability to think correctly. To process the information, identify the key issues and action upon it.
In essence, the 5 steps are:
- Understand the game – You need to understand your role and how that relates to your business.
- Understand your market – You need to gain an insight into your prospects unfulfilled needs.
- Understand the marketplace – You need to know your place in the marketplace and your competitors.
- Understand your competitive advantage – What is it that you are doing to provide superior value.
- How you allocate your resources – Where and how you allocate your resources determines how big or fast your business will grow.
The Hidden Obstacles To Your Success
Your success in business and in life starts with you! It does not come out of a box and you cannot buy it in an online store. Certainly no push button gimmicks. It is a personal roadmap to your success.
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Internet Business Manifesto by Rich Schefren
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