The most successful business owners know that building a sustainable and profitable business is a process. Some may even call it a journey. There are days when things go really well and then there are days when all hell breaks loose. Whether it’s a day of victory or a day of defeat there are rules that when followed and applied without fail, lead to more success, profit and freedom in your business.
If a highly profitable business is what you desire, then make sure you’re applying the seven commandments listed below daily.
- Begin with the end in mind. But first, get clear about where you are today and where you’d like to be in 3 months, 6 months and beyond. Don’t hope you’ll succeed and achieve your goals. Be intentional and focused on hitting them.
- Know your numbers. If you’re in business to make money, you need to know your numbers. And not just at the end of the year when it’s time to gather your receipts and tax prep documentation. You need to know how much revenue and profit is budgeted and how much is actually generated, monthly. From there you can look at variances and make the necessary adjustments.
- Don’t hope for growth, success and profits, expect and plan for it. Don’t leave your success to chance. Create an action plan to achieve your goals. Your action plan will serve as a roadmap to the growth, success and profits you desire.
- Show up, stand up and be seen. Make sure your ideal client knows about you so they can buy from you. Don’t be the best kept secret in your industry. And don’t be shy about letting people know about your business.
- A closed mouth doesn’t get paid. As a business owner, you have the ability to print money. Serve the market in such a way that every day not only feels like a payday but is a payday. If you’re not asking for the money, then you can’t get paid.
- Take massive action – consistently. Action is your secret weapon. It silences your fears, boosts your confidence and gets results! You’re either taking action or you’re making excuses. Only one of these will grow your bottom line.
- Show me the money. In order to increase your income and boost your profits, you must track, monitor and review your financial results monthly. You can get the results you want but you must identify what is and isn’t working so you can adjust your action plan.
Apply these seven commandments daily and your bottom line will be in the black – which means you’re making money!