Are you running your business? Or is your business running you?
When you started your business, it may have been just you – and everything probably seemed well within your control. You handled everything from marketing to client onboarding to delivering a stellar client experience to making sure your finances were in order and you did it with ease.
And then you found yourself growing (which is a good thing) but you also found yourself working longer days and even on the weekends. You were missing family events and found yourself moving further and further away from the work you love just to keep your business moving forward.
To make things better, you hired a VA to help you. Soon you added a contractor or two. You purchased some software to assist you in keeping track of things. And the clients kept coming and then you hired your first full-time employee. And, while all of these things seemed like the right things to be doing, you still feel overwhelmed and like the ship is slowly sinking. Deadlines are still being missed. Client work is going over budget. You’re not sure if you’ve got the right people in the right seats and you can’t remember the last time you really looked at your finances.
If any of this rings true, then your business is running you and not vice versa – and it’s time to take control.
But where to start?
Here are some key areas I recommend to my clients when it comes to taking control of their business so they can ditch the overwhelm and get back to enjoying the business they worked so hard to create.
Assess your needs
The first step is to assess your needs. You may think that this means strictly looking at what’s not working currently in your business, but that’s not the case. You need to look at what’s working well in your business and what isn’t. Make a list of all the areas of your business that are causing you stress or anxiety. Have a VA that’s amazing and totally on top of things? Fantastic! But is your client onboarding experience a little haphazard and messy and, perhaps, your VA is struggling to gather all the information you need to make the kickoff smooth and easy? That’s definitely a concern. Once you have this list, it will be easier to identify where you need to make changes.
Evaluate your team
When you made the decision to hire people to help your business, they most likely came on to fulfill specific needs. Perhaps you needed an editor or copywriter or someone to help with graphics and, in the beginning, it was easy to keep their work within their “zone of genius.” But as you grew, you found that you handed off some work to team members that maybe they weren’t suited for – or that they truly liked. Now that you’ve assessed your needs, it’s time to make sure your team members are in the right seat on the proverbial bus. And if they’re not – don’t be afraid to make changes.
Make sure your systems and processes are in place
One of the best ways to take control of your business is to make sure you have systems and processes in place. While it’s great that you know how to get a client from onboarding to offboarding, you want to make sure this process is not just in your head. What if you were to become ill and your new account manager had to step in? You definitely want to document your SOPs so that everyone on your team has access.
And the added bonus of doing this is that business owners often find that their systems and processes can be tightened up and streamlined, which can lead to an improved client experience, time saved, and more money added to your bottom line.
Track KPIs
If you’re not tracking KPIs (Key Performance Indicators) – then now is the time to do so. KPIs can help you identify areas of your business that need improvement, along with allowing you to measure your growth and progress over time. Some KPIs you might consider:
- Bottom Line Profitability
- Lead Sources
- Time Per Project
- Client Retention Rate
- Proposal Conversion Rate
Monitor Your Finances
When your business is thriving, it can be easy to put finances on the back burner. After all, you’re extremely busy and clients are happy and the money is coming in. In fact, you may even have an accountant or bookkeeper who “takes care” of those things for you. But we all know that things can change and it’s crucial that you’re always on top of what’s happening with your finances. Make sure you are regularly assessing your entire financial picture and planning for the future.
Choose the right tools for your business
Have you purchased tools and software to help you and your team? Are they working as you hoped? Are they doing what you want? If not, then it’s time to assess if you have the right tools for your needs. There are lots of great tools available – but you have to make sure you have the ones that are going to work for your business. It’s definitely not a one-size-fits-all approach when it comes to tools and software. Make a list of your must-have features and then see if what you have can do the job or seek other solutions to help.
Solidify your client relationships
Building solid client relationships is a win-win for everyone. It makes working with your client immensely easier when you’ve spent time being clear about your expectations, setting boundaries, and maintaining good communication. When these things are in place, it allows you to deliver a next-level client experience. And when that happens, your clients will tell people in their network what a fantastic service you offer – meaning more referrals come your way!
Taking control of your business can seem like a daunting task, but it doesn’t have to be. Start with these seven areas and begin the process of taking back control of your business. You will find that not only will it all feel a bit less overwhelming, but that you have done incredible work to improve the efficiency, productivity, and profitability of your business.
Of course, if you want some help getting these things in place, reach out to me. With 10 years of agency experience, specializing in business operations, my team and I can support you in getting control of your business. From Done-For-You tool setups to ongoing project management help, we’d love to learn about your needs and help you find a solution. Feel free to set up a call with us: https://melissavmorris.as.me/discoverycall