How to Grow Your Business. Keep it Simple and Get Back to The Business Basics.

Yesterday, my daughter Hailey celebrated a major accomplishment in her life. 9 months ago, Hailey asked my wife Emily and I to buy her an Iphone.  We told her no.  We then told her she would need to make and save $1,000 so she could buy it herself.  She immediately replied by stating that she was up for the challenge. 

From there, she launched her first business, “Hailey’s Baked Goods.”  Hailey loves to bake and loves people.  She always bakes for us at home, and sometimes shares her creations with others.

Upon launching her business, she and I sat down and I shared stories about my first business mowing lawns at the age of 10.  As I was sharing these stories and teaching her the concepts of starting and operating a business, I realized that the conversation and concepts needed to be so simple that, Hailey, an 11-year-old could understand them and execute on them.

While teaching these business basics to Hailey, I thought back to many entrepreneurs and business owners I have coached.  I also thought back to the many times I have been coached.  In doing so I realized that we as entrepreneurs get in our own way.  We overcomplicated things.  We take the basics, and then get too smart for them.  We add layers of complexity that are completely unnecessary.  While this happens we also become so busy and occupied that we forget about the basics that drove our business forward in the first place.

Business is comprised of a set of activities that when executed on and repeated with excellence, they will drive your business towards success.  Here are these basics.

Marketing and Advertising.  Determine who your ideal customer is and the problem they have you can solve.  Find a creative way to tell them about your product or service and how it will serve them. Ask for an opportunity to engage them as a client.

Sales. Continue the conversation you just started with them to determine if you can serve them with what you offer.  Ask them for their business.

Delivery.  Deliver your product or service with excellence.  In doing so, always under promise and overdeliver.

Get Paid. Ensure that you collect your money in a timely fashion.  Decide if you will collect payment before, during, or after your service or product is delivered. Keep track of your income, profit, and expenses on a consistent basis.

Rinse and Repeat. Continue steps 1-4 with your current client base as well as potential new client base.  Decide how much you will continue to focus on gaining new clients vs continuing to serve existing ones.

Business really is this basic and simple.  Hailey reminded me of that when she launched her cookie business.  I was reminded of that while coaching her towards her goal.  Yesterday she hit that goal, earning just over $1,000 from the profits of her business.

As you drive forward in life, leadership and business, remember to keep it simple and always remember to get back to the business basics.

If you do not have them already, click here to receive all of my FREE business and leadership building tools.  I just launched a free video coaching series called Back to the Business Basics, where I dive more into the above topics mentioned in this blog.

Remember 3 things:

I love you.

I believe in you.

You’ve got this.

NOW, go get it!

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