Quarterly Small Business Challenges Help Companies Reach New Levels
If you own a small business and have reached an earnings plateau, it might be time to think of taking on a challenge. What is a small business challenge? Anything you want it to be. You are in total control.
It all starts with setting a deadline for your goal. Say you decide on a three-month challenge. This is a good time frame for challenges because it is enough time to accomplish some pretty major things, but not so long that you reach a burnout and lose enthusiasm for reaching your goal.
For the goal itself, you need to do some visualization. Start by thinking where you want your business to be five years from now. Take notes as thoughts come and keep brainstorming until you have your future business firmly in mind. Now comes the fun part.
With the end in mind, break that vision into smaller sets of goals. If your end vision is having a business that earns $250,000 annually, try to increase your earnings by a certain percentage for the next quarter. Don’t make it too easy on yourself, either. Set a goal that is attainable, but also a bit risky.
Take a close look at where your business is now. What current activity is bringing in the most of your money? How can you increase that activity for the next three months? Set up a daily, weekly, and monthly checklist of all the items you could do to increase your income, and make it a point to check each item off as completed on schedule.
Block out times on your calendar to do certain items, such as searching for new customers and working your business. Schedule these most important activities in your personal most productive hours. Save the administrative (non-earning) activities for those times when your energy starts to flag.
It helps to have an accountability partner. If you are good at networking, chances are that you know a business owner or two that is currently wanting to grow their business as well. Why not do the challenge together? Then you can share your goals and your activity lists and help to keep each other on track.
At this point, it is a simple matter of working your plan. At the end of the quarter, your business will no longer be on that plateau. Chances are that you will have built up a good amount of momentum and your business will continue to grow.
Need more help reaching that goal? Contact us and we’ll help to keep you motivated to reach that future business vision.