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 me to buy her an iPhone. We told her no. We then told her that just like her brother before her, she would need to make and save $1,000 so she could buy it herself. She immediately replied 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 loves to share 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 an 11-year-old, like Hailey, could understand them and execute them.

I thought back to many entrepreneurs and business owners that 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.

 

 As this is happening, we become so busy and preoccupied 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, will drive your business towards success. Here are these basics:

Marketing and Advertising. Determine who your ideal customer is and the problem they have that 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 your potential new client base. Decide how much you will continue to focus on gaining new clients vs continuing to serve existing ones.

The business really is this basic and simple. Coaching Hailey as she launched her cookie business reminded me of that. 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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