The success, the profitability and growth are among the goals that young entrepreneurs are fixed at the launch of their company and always looking to expand their business internationally on social media.
Of course, these results are not instantaneous. They cannot be obtained with the wave of a magic wand and nothing is guaranteed.
However, there are steps you can take to lead your business to success.
1. No one has ever gotten rich by working at 9 am-5 pm!
To successfully manage the different facets of your life as a business owner and to set aside time for your privacy, you must be organized and methodical.
Because you have to spend a lot of time there, especially the early years. So to succeed in your entrepreneurial project, you must passionately love what you do, but also:
Organize yourself and prioritize your priorities
Too much time is often spent tweaking details that are actually unimportant, to the detriment of activities that are more urgent.
Before you start your day or when planning your activities, make a priority list of tasks.
Assess the urgency and importance of each task, then:
- start by dealing with urgent and important tasks yourself,
- then deal with those that are important but not urgent,
- delegate those that are urgent but not important,
- and leave the remaining ones for the end.
Organizing your work also means defining the deadlines to be respected in the same way as you did in your former life as an employee.
Manage your emails: they can quickly waste precious time, especially in the times of the day when you are most productive. Don’t waste your time checking your emails every five minutes. Reserve one or two times during the day to answer them (for example, in the middle of the day or at the end of the day), and answer the most urgent ones as a priority.
Optimize your time and become more productive
It can be learnt. To optimize your time, use business management tools, you will be more efficient!
Go through digitalization, work dematerialized and instantaneously.
invent the all-in-1 business management solution:
- Accounting, balance sheets, payslips, legal, VAT declarations….
- Dashboard – key indicators – cash management
- 100% DIGITAL – web or app
- Zero paperwork, zero-entry = zero waste of time!
- Dedicated Management Coach
You no longer disperse!
You can FINALLY spend more time on activities that generate revenue
2. Set clear goals
Defining goals for you and your team is a strong management act. It allows the manager:
- express their will to their team and strengthen their leadership,
- to orient the action in line with the strategic and operational axes of the company,
- to put its employees in motion by stimulating action.
Set SMART goals to make sure they’re relevant.
The setting of objectives has a driving role for employees by promoting their personal commitment to action. They become more involved and deliver the best of themselves. It also helps to empower them.
State your goals and explain your business strategy so your team can help you implement it.
3. Assemble a great team and help them shine
Before you even think about your business’s growth trajectory, you need to make sure that you have strong staff who can help you achieve it.
You must have a clear idea of what you are looking for: above all, be as specific as possible in defining the requirements of each position.
It is true that hiring the right people will make your business grow, but that is not enough.
You will have to make sure that you maintain the motivation of your team: for example, invest in their training, remain attentive to the needs, … In short, try to retain them as long as possible to ensure continuity in key positions, in order to have experienced employees who know your business inside and out.
And if you have a talented team, make sure you show them they’re appreciated.
Happy and motivated employees lead to successful businesses.
4. Never neglect your confirmed customers
No one is telling you not to spend time and money finding new customers.
But before going into a new business, ask yourself: “Is it worth bringing in new customers if I can’t keep the ones I have?”
Emphasize v bone existing customers: they will have chosen from your competitors! To learn how to retain your customers!
Managers of VSE SMEs, the loyalty of your customers is essential to the sustainability of your business. Make an effort to satisfy them, and never let them regret their choice.
After all, they’ll advertise you well, and it’s often through a loyal and satisfied customer base that you’ll acquire new customers.
5. Identify your risks
Client risk, too fast growth, risk of insolvency, management problems, bad marketing target… Risk is inevitable and it is part of business management. Impossible to control everything!
Entrepreneurs, find out about the most common causes of business failure. Indeed, most setbacks can be avoided, if we recognize them early enough.
Fortunately, there are many ways to limit internal and external threats.
Think of :
- Identify all of your risks in a detailed SWOT analysis,
- Imagine the risk scenarios, including the causes and consequences.
- Identify the constraints of the project.
- Implement models for estimating the severity of consequences.
- Implement probability of occurrence estimation models
- Have a detailed policy in terms of project risk management.
6. Be flexible
One trait that successful startups often have in common is the ability to change direction quickly , in response to market changes.
A fluid approach to development, both in terms of your product and your business, will help you move forward faster.
” As you adapted ant quickly, you are able to test different approaches to business and find out what works best “, said Lanng Business News Daily. ” It allows you to fail, to get up and to continue .”
7. Maintain your networks
You might feel like you know your business and your industry. You have reports that tell you what’s going on. You read your customers’ comments. You talk to your managers. You are convinced that you have a very good idea of reality. The truth is, you might be missing things!
Attend meetings you don’t normally go to, answer the phone, get to know your employees and customers, be present in business operations.
And above all, plan and participate in all the networking events that concern your activity from near or far! You will always find opportunities to learn from the experience of other people, discover new business solutions or reach potential customers!
You can’t grow your business if you don’t grow your network at the same time.
8. Adopt new technologies
If you are up against your competition, you need to keep up with the latest technology, which keeps getting better and saves time and efficiency.
In the age of the digital economy, new technologies can be about anything from new software to digitalization and more.
The use of new technologies can improve the way you work, allow you to remain competitive or even conquer new markets … So make sure you take advantage of it!
9. Make projections
While flexibility is an important quality for a start-up, you need to know where to step foot when running a business.
Planning your next step is the best way to anticipate risks and stay secure as your business grows!
Here are the plans that you will not escape:
The Business Plan :
This is where it all starts! Your Business Plan, or Business Plan, is the document that formalizes your entire business plan, detailing your business idea, your development strategy, your commercial ambitions, your Business Model and the financial profitability analysis of your business. project.
The Marketing Plan :
Making a marketing plan is planning the marketing strategies you plan to deploy to achieve your business goals.
Financial Planning :
To fully understand your room for manoeuvre, have at least 2 types of tables:
- a clear and precise budget estimate, with reliable data.
- Your forecast cash flow: this is the key tool for your solvency. By using a cash flow forecast in the form of a table or graph, you forecast your payment deadlines and ensure that you are able to meet your financial commitments.
10. Stay ahead of the competition
Being competitive is an obligation, not only to be viable, but also to be able to develop, and this concerns all sectors of activity.
The ideal is to create your own competitive advantage by:
- Being able to produce less expensive than the competition, you impose yourself with attractive price offers,
- Providing customers with an added value other than cost thanks to detailed knowledge of their expectations.
Sometimes, no need to innovate at all costs to gain the trust of its customers! One of the areas for making a difference is in the quality of customer service. This is a good niche to score points because while everyone knows this advice, few companies really know how to put it into practice.
Listening, using your customers’ feedback, keeping promises, respecting deadlines, not leaving customers unanswered, showing empathy, providing adapted solutions … So many examples of skills that you can use in place as part of your business to provide your customers with an exceptional experience.
11. Develop your skills
A writer can start a publishing house. A computer expert could start a business that provides computer services. A scientist can start a research and development project.
Each of them starts their business project with their own set of skills. This set of technical skills is what enables them to offer a particular product or service.
But it may not be the same for running a business. Being an enthusiastic and passionate business leader is not everything, you must also pay particular attention to the development of other skills:
- Commercial: are you listening to your customers?
- Marketing: do you know how to promote your products?
- Leadership: do you know how to motivate your team and manage your employees effectively?
- Management: do you know how to manage your time? Prioritize your tasks? Classify your invoices?
- Finance: for example, do you know how to read a balance sheet? Do you have a fair view of your real production costs?
- Legal: how to switch to withholding tax? What novelties in terms of maternity leave for the self-employed?
For the most advanced skills, ask yourself how much time you have. There are a few things that a leader should not ignore or leave behind. Although these are not the most important aspects right now … if you want to avoid problems that could cost you dearly down the road, you need to pay attention to them early on.
VSE / SME managers have a great need for accounting, tax and financial advice. You have every interest in outsourcing certain services to start on a good basis.
Entrepreneurs with little or no advice most often make mistakes that they later regret.
Develop your business, we take care of the rest!
12. Celebrate every success, even the smallest
Take your time to enjoy moments of success, applaud your hard-working team, and blow out the candles for what has been accomplished.
This allows you to maintain (or acquire) a winning attitude, instilling a state of mind that can inspire you until the next step.
Celebrating your successes will do you good morale as well as that of your employees who will see it as a result of their investment. You will also be more motivated, you and them, to go until the next victory.
13. Imagine your business is a magnet
The goal is to attract customers to your business. To be magnetic, you have to work at it.
Use old techniques such as print and radio advertising, but also the digital world, in particular, social networks: website, blog, Facebook page, Twitter profile, Instagram, Snapchat …
Real relays for companies, the development of these social media has definitely accentuated the importance of the digital presence. Whatever the size or the sector of your business, it is essential today to make speak about your company on the Web.
Don’t overlook any of the ways you can access customers. Be, you and your employee’s ambassadors for your brand.
14. Ask for advice
You should neither have the pride of thinking you know everything nor the fear of appearing weak when you ask for advice. The perspective of others can make a big difference to your business.
If you are having difficulty finding a mentor, call upon your contact circles, the professionals who have surrounded you so far, or the experts in your market.
Result: an accessible interlocutor, accounting, management, tax, legal advice … and easy management for the entrepreneur!
15. Create a professional website and strengthen your brand image
Choose a template for your site designed to meet the needs of all your business activities. This makes it easier to access your company’s products/services.
Remember also that your branding defines the identity of your company. It determines how customers perceive you because it conveys your message.
With this in mind, it is essential to choose your colours, your fonts, your logo and make the best possible use of them on your site.
Put special emphasis on your home page! It is the most visited page of your site, it must absolutely be efficient and attractive, to encourage visitors to stay on your website as long as possible.