Picture this: You are an up and coming business owner, but much of what this entails this is uncharted waters. You’re unexperienced in the business world and do not really know where to find answers to the problems that are facing you. For example, a customer calls in with a complaint. How do you respond? How do you provide a remedy for this complaint? Well, maybe this scenario doesn’t apply to you; maybe this is your reality or maybe you’ve been in a situation similar to this before. Whatever the case, as a business owner, it can be difficult to determine the correct solutions to the problems that occur in your business. Don’t get too worried over this though! Sometimes in life, we don’t really know what direction to go so we just roll with the punches.
Although this can be a bit of a risky card to play when you are a business owner. There is a huge amount of pressure that comes along with owning a business; you may feel like you need to know all of the answers to every problem all the time. But that is simply impossible. In fact, it is okay if at times you don’t really know what your next move should be. It is also okay if you feel like you need to just sit back and see how things go for a little while. With so much pressure and stress, sometimes it is helpful to have something to go back to and focus on.
Ask yourself, “What should I stop doing?”
This question might be an obvious one. What’s not quite working or feels detrimental to your business are probably things that you should stop doing. While they may hold their own value, what you need to think about and consider is what specific value do they add to your business? Do they, in reality, add value to your business at all? If not, then there is no need to be continue on with these business practices.
But at the same time, it is also important to remember that this is a very subjective question. So while something might be right for another person’s business, it does not necessarily mean that it will be right for you and your business. The biggest mistake you can make is comparing yourself to another business and try to mimic what they do. Remember that you are your own business, and what will work for you may not necessarily work well for another business, even if you operate within the same industry. Your success should be your own. Consider these things when you’re wondering about what things you should stop doing.
Ask yourself, “What should I keep doing?”
As you continue reviewing the practices that you should stop doing, you should consider the value of everything your business does. If there are areas or departments that are not adding any value, then of course you should stop wasting time on those things. If your business is doing something, it should be something that at the end of the day will benefit its growth. Especially as a new business owner, considering these things are important.
While it is important to realize the practices you should stop doing, you should also take time to realize the practices that are beneficial to the continued growth of your business. If you have something that is a positive influence and leaves a great, lasting impact on your business, this is something that you should definitely continue doing. As an article from inc.com states, “It's not just about creating an excellent model for running a company. The company has to be organic, flexible, and ever-evolving to allow changes in its environment.” Your goal should always be the growth of your business; this growth should be organic, flexible, and ever-evolving as inc.com explains.
By sitting down and evaluating all the activities that your business is engaged in, you can really see the worth in each. Going through every aspect of your business and seeing its worth and value can help you to decide what you should continue pursuing. Not only should you decide what you keep doing, but you will be able to see the activities that you might want to pursue further as a business. This way, you’ll have a way to start seeing where your business could use internal growth so that it can grow outwardly.
Ask yourself, “What should I start doing?”
While you were sorting through everything that your business currently does, did you perhaps spot any “missing pieces”? Did you see something that could be useful to apply that can help you? Of course before you start making changes, you should determine why you want to.
For example, you might want to invest further into better call handling when your employees talk to your customers (if you’d like to read about this subject, read our blog here about business phone etiquette). By investing further into something that you think could be beneficial, you give yourself the opportunity to grow in a way that was not previously an option.
People are often drawn to what is new and exciting. So if you start offering something completely new, while still retaining the same level of quality as your usual product, then you might even find yourself gaining new customers. It might also be a good idea to keep an eye on what new products or services your competitors are offering.
Earlier, I mentioned that you should refrain from comparing yourself to your competitors, but seeing what they’re offering their own customers can often give you clues as to what direction supply and demand in your field is moving. As long as what you offer is in line with what your business aims to provide and achieve for your customers, then it is definitely worth considering.
Whether you’ve owned your business for years or are new to the business world, there are always practices that you can stop doing, start doing, and keep doing. It can be good to have a basic standard to judge what exactly that your business is trying to achieve. Of course, as a business owner, your long-time goal is the success of your business, as well as maintaining the happiness and satisfaction of your customers. Next time a problem arises, these three questions can help you determine what it is that you’re doing with your business.
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