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How well do you know your company? You may think you know your company like the back of your hand, but every business owner needs a little reminder to take a look at the big picture. Take the following quiz and think where you’re headed and if that’s the direction you want.
Question: Who are my customers?
Yes, you know who your customers are as you have their order forms saved. But do you REALLY know them? Where do they live? What are their other interests? What websites do they go to every day? The more you know about your customers the better you can customize an experience for them which will make them ecstatic to do business with you. This can lead to more sales and lifelong fans recommending your business to everyone they know.
Question: Where does my money go?
Your business can only grow properly when you’re consistently making more money than you’re pumping out. This may seem obvious, but it’s easy to forget sometimes, especially when we get caught up in buying stuff we may not need. Start tracking every cent that goes out of your business and see how much you’re wasting. You may be surprised!
Question: Why am I in business for myself?
Every business owner has a unique story. Some get into business to get out of the rat race while others want to spend more time with their family. Yet others have a great business idea they know will succeed. Whatever the case may be, it’s important to always remember it. If you don’t, you may end up taking your company in a direction you didn’t expect…or want.
Question: How does the public find my business?
You’ve no doubt undertaken several marketing and public relations campaigns to spread the word about your business. Do you have any idea which ones worked? If not, it’s time to find out, as discovering the road your clients travel to get to you can change the way you do business. For instance, if clients mainly find you via social media, you would want to amp up those efforts rather than continuing to spend money on magazine advertising.
Question: How do people pay me?
This is another question that may seem silly and obvious. Why should you be worried how people give you money? The answer is it’s another way to nab even more sales. If your customers are clamoring for you to take credit card payments and you don’t listen, you’re missing out on money in your pocket.
Question: Where do I see my business in X years?
How far in the future have you thought about your business? Naturally nobody wants to imagine a time where they’re forced to hand over the reins when you have a company that’s your baby. However, it’s important to imagine what your “endpoint” is as it will arrive one day whether you like it or not. The more detailed your plans for retirement, the better off you’ll be when the time finally arrives.
How’d you do on the quiz? Is there one aspect of your business you really need to focus on?