Staffing and recruiting firm owners work in a fast-paced, time-intensive, high-pressure, and ever-changing environment. If you are a producing owner, you have at least two full-time areas of responsibility which can often cause you to work in vs. on your business.
I attended an owner retreat, and we were told, “Work on not in your business” which sounded great but wasn’t practical when I looked at all that I had on my plate. However, if you don’t stand back and see the big picture you are limiting your success, the success of your team and the profits of your business.
The first strategy I would suggest you implement is the weekly review. Every Friday afternoon, block off at least thirty minutes on your calendar and ask yourself the following questions:
Question one: What did I do right?
This represents the 20% that provides you with 80% of your results.
(Your goal is to spend most of your time focusing on the results oriented 20%)
Question two: How did I waste time?
(Make a commitment to stop those actions immediately)
Question three: What new idea should I implement to improve my results?
(Select one idea every twenty-one working days)
Review your position and company as if you were a hired consultant. This weekly review has several benefits:
· Holds you accountable weekly
· Prevents a bad week from escalating to a bad month
· Will consistently improve your results, sales, and profits
This will help you be proactive vs. reactive, and you can identify and solve small issues before they escalate to become major problems. This weekly review forces accountability and continued changes to improve results.
A great idea would be for you to have everyone you supervise conduct a weekly review as well. So often you or the people who work for you don’t realize the time wasters that are eating up your valuable time and sabotaging your success.
CONDUCT A GAP ANALYSIS
When you became an entrepreneur you had specific goals and objectives in mind.
Answer the following questions:
· Does your current reality reflect those goals and objectives?
· When is the last time you stood back and updated goals and objectives for yourself, your company, and your future?
A Gap Analysis will reveal specific actions you must take to bridge your current reality to the attainment of your dreams and goals. The following Gap Analysis Sheet will help you identify areas in your business needing the most attention.
EVALUATE AND MAKE ADJUSTMENTS TO INCREASE SALES AND PROFITS
Every company is in business to generate profits unless they are a non-profit. Once you have completed your Gap Analysis, review the specific actions which must be taken to achieve your personal and well as company objectives. This is perfect timing, because we are in the fourth quarter of the year, and this information can help you set up a Record 2024.
Review the action items needing implementation and select six specific revenue generating strategies you will implement by the end of 2024. Under each of the six-revenue generating list specific action items, date them and assign them to a specific person.
The progress on completion of the action items should be discussed at the beginning of each month. Date the action items by addressing the top priorities first. If an action item is not completed, the date is revised, and it may be delegated to a different individual.
When you implement the ideas shared in this article you will stand back and not only see the Big Picture, but you will take actions to attain a great level of success for both yourself, your team and your company.