A little ENTREPRENEUR wisdom for 2017

Image courtesy of Armstrong Economics

E –Increase EFFICIENCY and output: whether you are manufacturing a product, conducting training or writing a book, increase your efficiency by literally micro-managing your time.  You must be able to quantify what you have achieved for every minute of every day this year.

N – Know when to say NO.  As much as you believe that you are invincible, you cannot do everything for everyone.  Learn to sift through the many requests you receive and say NO to the ones that will take up lots of time with very little output.

T – Develop a healthy TRUSTING relationship with your stakeholders.  No man is an island, if your business provides value to your customers, suppliers, funders and other partners, they will have no issue working with you to provide the best possible product or service to your customer.

R – RESPECT your employees.  It was Famed Entrepreneur and Founder of Virgin Airlines, Richard Branson that shared “the way you treat your employees, is the way they will treat your customers”.  This from a man who has built a highly successful, world-recognized business, it must be worth something.

E – Strive for EFFECTIVENESS in your business.   Make your 2017 business goals results driven.  Have a big picture as to what you would like to achieve in the business and make them goals.  Tick off as you go along and don’t forget to stop and celebrate your achievements every now and again.

P – Take PRIDE in what you do; after all, it is your business.  Your customers will definitely notice the improvements in your products and identify the quality in the service your business provides.  More importantly, customers are willing to pay a premium price for a product that is well done.

R – Don’t be afraid to RETOOL in 2017 both in your personal and professional life.  Just as rest and relaxation is important to the body so is building the mental and physical capacity of the business.

E – Aim at improving customer ENGAGEMENT in 2017.  Your customers want to feel part of the process.  Ask their opinions about an existing or new product through surveys, feedback forms and product testing.

N – To maintain existing clients and attract new ones, develop a NEW brand strategy.  Marketing your business in 2017 should not be business as usual.  Identify and explore new media outlets through which to funnel your business information. 

E – EXPENSES are a feature of business, but with increased EARNINGS, your business can manage to make a profit.  Strive to maximize your spending as well as your operations to get optimal financial results.

U – Keep your contacts UPDATED.  Ensure that your database is in tip-top condition so that when you are ready to contact your clients, there is little incidence of bounced emails or ‘wrong numbers’ being called.

R – REPOSITIONING your business to attract new clients is a must for survival.  Don’t wait to hear what the competition is doing to get moving, keep updated with the trends in your industry as well as according to your customer needs.