To be able to climb steep stairs, it is necessary to perfect your business. Regardless of the nature, type or size of your business, you need to prepare and maintain it in a certain way to be ready for success.
Abraham Lincoln once stated ‘while others enjoyed their sleep, I was busy climbing the success ladder’. He refers to his phenomenal success from the wooden cabin to the White House. Like Lincoln, you can also prepare, in front of others, to bring your business to the peak of success. And the top of the success ladder has never been crowded because it reaches its peak easy to stay there and Excel.
Groundwork to achieve business advantages begins with finding answers to some questions. Important questions are;
A. Where is my business now?
B. Where do I want to be?
C. And how will I get it there?
To investigate what stage your business is now compare your business with competing business. What is the niche of your business market, popularity, customer base size, current performance, change and profit are some comparable indicators. These indicators will help identify your current business position. For example if you are a business website you can use indicators such as search engine positions, Google page rankings, traffic status, login links etc. to ensure where your business is now.
The next step is to evaluate the weaknesses and strength of your business to understand it better. Then you can determine the way and the means to change weaknesses into strength. Business strength will lead to opportunities.
This analysis will also reveal to you threats to you business too. The action plan will help deal with threats. The threat is a challenge that tests your strength completely.
Identifying weaknesses also draw up plans on how to change weaknesses into strength. More strengths and weaker weakness will give you more opportunities.
As a useful step of this exercise, you can compare your business with excel’s best business practices. Factors such as customer loyalty and retention, features and quality of service, business images, timely delivery, after-sales service, marketing capabilities, etc., can be compared. Useful for comparing your current performance in every operational activity with best practices and trying to narrow the gap.
Top Excel business due to their best practices. Some of your business practices may be above or below them. Learn what other people do better in business and make improvements to your business practices. Thus, make a plan and implement what you need to increase to Excel. This benefits you to follow those who have reached the top.
Next focus you should look for answers to questions’ where do I want my business? This refers to your business vision which states where you want business. Your business requires a vision that carefully thought out. ‘To reach number one position in its business line within five years’ is an example of a vision. Determine the vision to aim for business excellence. Vision has a definite time limit. This vision really ‘dreams with deadlines’. And you need to make and follow the strategic plan to achieve it.