Get Comfortable With Uncertainty

Get Comfortable With Uncertainty

Featured, Planning, Process
You hear it as an excuse all the time. People can be talking about the stock market, an election, their business or their family, they are worried about uncertainty. What most people won't acknowledge is that everything is uncertain. Unless you have a crystal ball that sees the future, you can never be certain. You may think you know what is going to happen, but you can't force or control all of the variables that happen. A driver could crash on the highway. The resulting traffic jam could delay an important shipment. A sudden failure at your internet provider could keep you from accessing the cloud software you need to complete your project. Successful people don't worry about uncertainty, they plan for it. Things go wrong all the time. What…
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Don’t Let Amazon Ruin Your Business

Don’t Let Amazon Ruin Your Business

Featured, Planning, Process
Amazon has grown into more than a retailer. It is a marketplace for companies to sell their products. As a marketplace it has allowed companies to reach a larger market for their products and smaller retailers to expand their businesses online. However, there is a growing group of companies that are relying on Amazon as their sole distributor. This isn't just manufacturers, but small retailers who are selling their inventory and individuals who are selling merchandise as a side hustle. Relying on Amazon is a bad business model. Here's why. Amazon competes with its partners: Amazon is currently being investigated for taking the data from its partner's sales and using ti to compete against them. If Amazon decides to undercut you or downgrade your listings so they appear further down…
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The Entrepreneur And The Side Hustle

The Entrepreneur And The Side Hustle

Attitude and Mindset, Communication, Featured, Focus, Planning
The gig economy provides new ways for entrepreneurs to enhance their earning and in some cases provide funding for their ventures. A side hustle can be an amazing tool for entrepreneurs. More than money, they can offer new ways to meet people and a way to exercise different skills and abilities. There is, however, a downside. Depending on what your side hustle is, it may impede your ability to establish yourself in your entrepreneurial field. If your side hustle came first, you have (if you've been successful) created a brand for yourself in hat side hustle. You'll need to expand that brand or target a different audience. If you've been selling essential oils, that audience may not accept you as a web designer. Target different markets for each job. If…
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All Customers Are Not Alike

All Customers Are Not Alike

Featured, Improvement, Planning
Your company may sell one product or offer a variety. Either way, the odds are that you have different types of customers purchasing from you. Knowing who they are is very important because they are not all the same. Which means you can't sell the same or service the same. Different customers require different plans and processes. Where an older customer may require a phone call, a millennial may prefer a text or Facebook message. Your strategy for attracting and retaining customers has to be personalized. The more you know about your customers, the better you can meet their needs. Here are some tips for differentiaing clients. Talk to them. Get to know your customers as people. This will allow you to learn how to serve them best. Find out…
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Know Your Why

Know Your Why

Featured, Planning, Process
by Eric Lopkin Business people focus the majority of their energy on what they do and how they do it. The most important part gets lost. That part is why. Why you do what you do is the most important part because it decides the what and how. Why allows you to connect with people on a visceral level. Why you do what you do is not to make money. If the only why you can focus on is to make a profit you might as well close up shop and take a job flipping burgers. You'll make money doing that. Why is your mission, it is your vision, it is why you get up in the morning. It is what inspires you. Simon Sinek's book "Start With Why" explains that…
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The Changing Face Of Work

The Changing Face Of Work

Featured, Improvement, Planning
People fear change. This is a universal constant. Change requires that people move into the unknown, which makes people uncomfortable. However, when change is happening, you have to adapt or be left behind. That is what is happening with the economy and the workplace. To thrive in the new economy you have to accept that things are changing. Big business isn't what it used to be. According to the Small Business Administration 47.4% of people in the United States are employed in small business. 99.9% of all U.S. businesses are classified as small business. The average person changes jobs every three years. The days of getting a job out of college and staying there until retirement have been gone for a while, yet people still act as though that is…
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Don’t Believe These Strategic Planning Myths

Don’t Believe These Strategic Planning Myths

Featured, Innovation, Planning
Strategic thinking often boils down to choosing what not to do. Yet three myths continue to plague it: Myth 1: Productivity is the goal. Productivity is about getting things done. Strategic thinking is about getting the right things done well. And that means leaving some things undone. Myth 2: Strategy is about what's “important.” Every project is important to someone, and every organization has more important projects than it can complete. Strategic thinkers must decide where to focus their efforts. Myth 3: It’s only about thinking. Strategic thought has to yield actionable decisions. Leaders must step up and make the call about what the team will and will not do — and then stick to it.
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Be Ready To Pivot

Be Ready To Pivot

Featured, Focus, Planning
Dwayne "The Rock" Johnson worked hard to become a top NFL player. He worked out, practiced and was on his way, receiving a full scholarship to play football at University ion Miami. While he had all the makings of a pro football player, his career was brought to a halt by an injury. Unable to continue as a football player, he had to find a new path. Many businesses find it necessary to change paths, and many companies have a hard time doing it. Polaroid and Kodak both had difficulty pivoting when the digital camera emerged. Toys R US found it difficult to deal with consumers shopping online. Whatever the change you need to face, here are three tips for starting a successful pivot. Take Inventory: What are the specific…
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Don’t Set Growth Targets Without Thinking Carefully About Timing

Don’t Set Growth Targets Without Thinking Carefully About Timing

Featured, Improvement, Planning, Process
You’ve probably seen them before — those project spreadsheets in which Year 2 revenue is Year 1 revenue plus 10%, and so on. These projections are rarely accurate, because they reduce the world to linear models — when in reality the growth process is nonlinear, sometimes even exponential. Additionally, most plans depend are multiple parts all working in conjunction. If one part takes longer than expected or implementation isn't done in the proper order, the ultimate goal is delayed. The Harvard Business Review recommends instead of assuming that growth will happen right away, and at a steady pace, think about the likely times at which revenues will be realized. What’s the realistic lag time between initiating your growth project and reaping the rewards from it? Focus on three inputs: the…
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Using Sprint Goals

Using Sprint Goals

Featured, Planning, Process
Setting long term goals is necessary for success. To build momentum and keep motivated, use sprint goals. In the Businetiks system, a sprint goal is a quick, short deadline goal that moves you closer to your larger goal. How can you create sprint goals? Use a short deadline: Where long-term goals can take months or years, a sprint goal deadline should be no more than a day. For example, if your long-term goal is to make $1 million in sales this tear, your sprint goal could be to make ten sales goals today. Briefly describe your goal: A sprint goal can be described in a few sentences at most. Relate your sprint goal to a long-term goal: The purpose of your sprint goals are to reach bigger goals. Make sure…
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