TCFBO #048: Back to Basics

Read Time: 3 minutes

With the speed at which things change, we can easily find ourselves caught up with the latest thing.

And although it’s important to keep abreast of developments that may be a threat to our businesses, as well as those that may provide an opportunity, it’s also important that we don’t lose sight of the basics.

So these soundbites should help keep your mind focused on three key principles as you continue to operate and grow your business.

1. “Focus on the Core Before the Score”

Measuring the performance of your business by keeping score is critical in ensuring you know where you are at any given time.

It’s like checking your Sat Nav so if you do go off in the wrong direction, you can quickly adjust and get back on track.

However, before diving into the metrics, it’s crucial the core of your business is solid.

This means having a clear understanding of your business vision and how it aligns with your life vision.

It’s about knowing your target market.

It’s about offering a product or service that aligns with your values and your customers.

If you, your team, or any of the above are out of alignment, it doesn’t matter what your key performance indicators are because your core is unstable.

And an unstable core leads to stress, burnout, staff issues and a whole range of other problems.

But when your core is solid, your sales figures, customer satisfaction ratings, and other KPIs will naturally improve because your day to day business operations are rooted in clarity and purpose.

2. “Cashflow is King”

In a small business, cash flow really is king.

It’s the lifeblood that keeps everything running smoothly.

If you manage cash flow effectively, not only will you make sure you can cover your expenses, you’ll also have the ability to invest in new opportunities and increase your chances of weathering bad times economically.

Profits don’t just come from making money, but managing your money smartly.

Revenue is vanity, profit is sanity, cash is reality…and cashflow is king!

3. “Hire for Attitude, Train for Skill”

Paul often had to recruit people as part of his role in managing technical support teams.

Frequently, a key indicator of whether a person would be a good fit for the role was whether they had worked in a bar or restaurant serving the general public.

Because if someone had survived working in hospitality, they generally had the right attitude to work in technical support.

And that’s because training someone in complex technical skills is an absolute breeze compared to training someone in how to communicate effectively.

So when you’re looking to bring someone into your team, whether that’s full time, part time or even freelance, look at attitude first and foremost.

Enthusiasm, a willingness to learn, and a fit with the culture of your business are often more valuable in the long run than expertise alone.

And ask yourself whether their values are aligned with the core values of the business.

Skills can be taught, but attitude is ingrained.

We trust these three simple phrases will help you remember to stay focused on what truly matters, manage your resources wisely, and build a team that shares your vision.

Because if you focus on these three basic principles you'll ensure your business is built on a firm foundation for continued success.

Let us know how you get on and we’ll see you next week.

Paul & Philly

Whenever you’re ready, there are three ways we can help you:

1. Grab a copy of Paul’s book “Backwards Planning - A Simple Method to Move You and Your Business Forward” and discover how to reverse engineer a life and business you truly love.

2. Book a facilitated “Life Vision Session” today and start creating a life and business that are fully aligned with your heart’s desires. We’ll arrange a pre-session call with you to say “Hi”, explain how the Life Vision Session works and answer any questions you may have.

3. Apply to join “The Clear Focus Business Academy” and ensure your business is the most effective it can be at providing the money and lifestyle you desire. Simply drop us an email or contact us here to tell us you’re interested and we’ll send you more info.