Category: Business Development

Want to make the varsity football squad, get an “A” in biology, or finally date the head cheerleader? Nothing is going to happen until you set a goal and work at it. And while January may be the prime season for goal- and resolution-setting, no time is better than right now to take stock of where you're at and figure out where you want to be a year come next June.

When setting goals for your business, go back to section 8 when you took your placement test, and figure out a good stretch goal (specific, measurable, achievable, realistic, inspiring) for each of the following categories:

Traffic. Online, everything begins with quality traffic, and just about every business could use more of it. Think about ways you can double your traffic over the course of the next academic year (nine months), by paid sources (advertising), guest blogging, podcasting, social media, and search engine optimization. Then rank those efforts according to how difficult it would be to implement, and how much of an impact it would have on your business. Then pick the top two or three ideas and get moving!

Sales. If you're not making the sales you want, you either don't have the traffic, aren't converting, or don't have products and services for your target audience. We took care of traffic above, so let's talk about conversion and products. Take a look at what you're offering your audience. If you believe in the value of the products, then you need to convey that value to the audience in a way that resonates with them. Think about hiring a copywriter to make over your web page, or try adding a video or audio sales letter.

Are your testimonials strong enough? Are you offering enough products? Again, pick one or two things you can do over the next few months and start them now.

Lifestyle. If you're working too many hours, the number one thing you can do is to start outsourcing some of your less-critical tasks. Start with something you don't enjoy, like bookkeeping or customer service emails, and find someone to help you out. Even a few hours a week will give you a taste of the freedom to be had when you offload all your unsavory tasks! Think about how much more energetic and inspired you'll feel when everything on your to-do list is something you actually want to do.

Setting year-long goals each January is a great exercise, but there's no reason to wait another three or four months to take stock of your business. Start now, and by January, you'll be well on your way to achieving your aspirations

Who doesn't recall that annual excursion to the department or shoe store, searching for the perfect outfit or pair of kicks to start off the school year? And then, on the first day of school, wearing that outfit or shoes put you in the mindset of opening a new chapter in your life. Anything was possible with a new pair of Keds or a brand-spanking-new Le Tigre polo shirt!

When you work from home, you can think that your wardrobe no longer matters. After all, who sees you, sitting behind your keyboard? It might be true that the only person who sees you is your cat and the UPS man, but there are still a number of reasons to upgrade your wardrobe – or at least make sure your shirt is Spaghettio-free:

Clothes Make the Man (or Woman). Tom Gunn knows the truth: If you look better, you feel better. It's kind of like taking the time to set a nice table, even if you're dining solo. Putting in the effort to wear clean, flattering clothes, even if you're the only one who will see them, will make you feel better about yourself. And when you feel more confident, you act more confident. That feeling will come across in your emails, your voice, and your decisions.
You Never Know... You might think that you won't run into anyone worth meeting at Starbucks or while out picking up a bag of dog food. But potential contacts, clients, and referrers are everywhere – even behind you in line at Petco. It's better to be prepared than to be sorry. You'll be a tad hesitant to approach someone, or respond to their overtures, if you're dressed in a stained 49rs t-shirt and a pair of too-tight jeans.

Put Yourself Out There. If you aren't on YouTube, you should be! And while you don't need movie star good looks, you should at least get out of your pajamas before filming a video to put forth for the world to view.
There Are Times... Every once in a while, you will need to enter the public eye – at an industry event, a networking get-together, or a trade show. The time to find yourself a few attractive, comfortable outfits is not the day before you get on a plane. There's an unwritten law that the more desperately you need a new pair of pants, the less likely you are to find them.

This isn't to say you need to go out and spend thousands on a closetful of clothes. But you can head to a reasonably priced department store and find a few separates that you can deem your new work wardrobe. You'll feel the impact immediately on your productivity and your self-confidence.

At the beginning of every school year, students from kindergarten through college spend the first few weeks of school getting adjusted and finding the right classes. Key in that process is the placement test. Teachers evaluate their pupils for reading, math level, and overall socialization. These tests not only ensure that students end up in a class that's paced properly and is challenging enough; they also provide an important benchmark to measure progress over the ensuing year.

Businesses could do well by taking the same approach. Figuring out where you are now not only lets you appreciate how far you've come, it also helps identify areas where you may be lagging behind your aspirations. Here are few of the metrics you can look at to evaluate your business:

Web statistics. If you own an online business, web stats are the backbone of your check-up. How many people visit your site, how long they stay, what pages they visit, and whether they return will all help you figure out what you need to do to keep them around longer. Other things to explore: How they arrived at your site, and how you show up in search engine results for your keywords. Google Analytics or your cpanel statistics are great places to start.

Revenue. I'll assume you're in business to make money. So how much are you making? Where is your money coming from? What products are services are most popular? This information will help you make more informed decisions going forward.

Expenses. Money coming in is only half the equation: How much money is going out? Where is it going, and why? Are there easy places to eliminate expenses? Remember, cutting your expenses is an even more effective way to put more money in your pocket than increasing your revenue.

[Tweet "Cutting your expenses is an even more effective way to put more money in your pocket than increasing your revenue."]

Hours worked. Exactly how hard are you having to work for the money in #2? It's great to make $50,000 a year – unless you're working 100-hour weeks to create that income. Figure out where the time is going and you'll be on the track to increasing your efficacy and your per-hour wage.

Customer satisfaction. It's more cost-effective to sell to a repeat customer than to bring new customers into your business, so how happy are those who purchase from you? Check out your return rate, and your repeat customer rate to see.

Employee turnover. Can't keep a virtual assistant longer than a month or two? It may be them... but if it happens over and over again, it just might be YOU. If your customer turnover seems excessive, dig into why your help is leaving faster than rats off a sinking ship.

Taking an honest look at where you are now is the only way to create a workable path towards a brighter tomorrow. If you see areas where you could use a little extra help or “tutoring,” work with your business coach or mentor to figure out how to bring your skills up to grade level.

At the beginning of every school year, students from kindergarten through college spend the first few weeks of school getting adjusted and finding the right classes. Key in that process is the placement test. Teachers evaluate their pupils for reading, math level, and overall socialization. These tests not only ensure that students end up in a class that's paced properly and is challenging enough; they also provide an important benchmark to measure progress over the ensuing year.

Businesses could do well by taking the same approach. Figuring out where you are now not only lets you appreciate how far you've come, it also helps identify areas where you may be lagging behind your aspirations. Here are few of the metrics you can look at to evaluate your business:

Web statistics. If you own an online business, web stats are the backbone of your check-up. How many people visit your site, how long they stay, what pages they visit, and whether they return will all help you figure out what you need to do to keep them around longer. Other things to explore: How they arrived at your site, and how you show up in search engine results for your keywords. Google Analytics or your cpanel statistics are great places to start.
Revenue. I'll assume you're in business to make money. So how much are you making? Where is your money coming from? What products are services are most popular? This information will help you make more informed decisions going forward.

Expenses. Money coming in is only half the equation: How much money is going out? Where is it going, and why? Are there easy places to eliminate expenses? Remember, cutting your expenses is an even more effective way to put more money in your pocket than increasing your revenue.
Hours worked. Exactly how hard are you having to work for the money in #2? It's great to make $50,000 a year – unless you're working 100-hour weeks to create that income. Figure out where the time is going and you'll be on the track to increasing your efficacy and your per-hour wage.

Customer satisfaction. It's more cost-effective to sell to a repeat customer than to bring new customers into your business, so how happy are those who purchase from you? Check out your return rate, and your repeat customer rate to see.
Employee turnover. Can't keep a virtual assistant longer than a month or two? It may be them... but if it happens over and over again, it just might be YOU. If your customer turnover seems excessive, dig into why your help is leaving faster than rats off a sinking ship.

Taking an honest look at where you are now is the only way to create a workable path towards a brighter tomorrow. If you see areas where you could use a little extra help or “tutoring,” work with your business coach or mentor to figure out how to bring your skills up to grade level.