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Business success in 2020 - 3 tips to make sure it happens!

Business success in 2020 - 3 tips to make sure it happens!

Written by David Green

Author: David Green/Sunday, January 12, 2020/Categories: Featured Writer David Green, Boggabri, Narrabri, Wee Waa, Walgett, Community, Business

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Business success in 2020 - 3 tips to make sure it happens! (Headline score 66)

It is easy to lose focus throughout the year. Before you know it, 2020 is upon us. We get it. You get busy, jobs start to pile up, bills need to be paid and before you know it, you are buying Christmas presents! Make 2020 different. Before anything gets too wild, it's time to make a plan and set your business up for success in 2020.

These 3 key things will make sure you have the structure and rigour for business success in 2020! 

1.    Set goals - and stick to them!

This one seems simple but all too often, the flaw is in the execution. We will run over the two goal setting basics to get it right. 

Firstly, make your goals achievable. Engagement, even in your own goals is incredibly important. If you or one of your team become disengaged and the goal post seems out of reach, you may as well throw them away. Remember, if you don’t believe in your goals, your team or employees definitely won't! 

Secondly, set a time frame and hold yourself accountable! If you want to get 3 more customers on the books, set a date and work towards it. If you want to call 20 prospects a day, every day: don’t leave until you have called every single one.  

If you don’t hold yourself accountable, who will?

2.   Focus on your people 

If you ask any business owner, what is your biggest challenge? All too often, the response is ‘people’. That’s why you need to make them your #1 priority. There are a million different things to do to help make your business a great place to work. 

A great starting point is having regular one on ones with your people. How annoying it is when your boss is always ‘busy’. You are never too busy for your people. Set a time to meet. Discuss how they are, speak about their goals (how they are progressing and how you can help achieve them) and stick to it. 

Moving the time, changing the day, being too ‘busy’ drives disengagement and doesn’t breed an environment of accountability. Supporting your customers and giving amazing customer service is incredibly hard without great people around you. 

 

3.   Protect yourself 

When you run or own a business, there is always some level of risk. Business owners that understand the risks of their business generally have a great understanding of everything that is happening within their business. A good place to start is to conduct a risk assessment. 

Firstly, sit down and write down every single thing you can think of that could have a positive or negative impact on your business. Then, systematically put each risk through the matrix below. Rank them on the likelihood they may happen, then add the layer of possible consequences. The risks that rank the highest are the ones you should address first and then work your way backwards. It’s good practice to revisit your risk assessment regularly throughout the year. 

 

Some common business insurances such as Professional Indemnity Insurance and Public Liability and Asset protection can be very easy to forget but they are very easy to acquire! Make sure you have all of your policies in one place, set reminders for renewals and don’t forget to update them when things change. 

Don’t let the year get too far ahead of you, get on top of 2020! Focus on what is important and you will see your business prosper and grow even in challenging environments. 

 

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