Growing up, we all had rules. We had necessary restrictions in place to keep us on track. Whether at home or at school, we knew there were certain things we should not do. But did you know there are rules in business too? Are you aware of the parameters that serve as safeguards to your success?
If you want your business to grow and your revenue to soar, there are rules to the game. As a business coach and success strategist, I teach my clients those rules and I’m also going to share them with you. For brevity’s sake, I can’t list them all, but I will elaborate on three fundamental rules below. Read them, follow them and most importantly, use them as a foundation for business success.
Rule 1: Know Your Consumers.
How well do you know your consumers? What problems do they have that you can solve? How is your solution different from your competitors? These are key questions that every entrepreneur must answer. Think about how you gravitate to people who understand your needs and how frustrated you feel with those who don’t. In business, the same holds true. Consumers are attracted to products and services that speak directly to their needs. That’s why what you sell is just as important as who you sell to.
To better understand your consumer, market research is critical to your company’s growth. It gives you the specificity and clarity you need to serve your demographic well. When you know who your consumer is, what they want and how much they’ll pay for it, you position your business to thrive.
Rule 2: Network Strategically.
I know this seems pretty basic but you would be surprised how many people try to build their business behind close doors. What are you doing to promote your brand? How many people have you told about it this week? Is your business a secret? Do you not want customers? There’s no time to be clandestine when you have something to sell.
I believe in the age old quote, “a closed mouth will not get fed” and trust me, that is certainly true in business. To succeed, you have to open your mouth, talk about your business and promote your offerings. Networking is critically key. The more connections you make, the more sales you get. The objective is to network strategically. Look your best, be confident and make sure your elevator pitch is well rehearsed and interesting. Of course, look for synergy and natural connections and always follow up.
Rule 3: Know Your Vision.
Michael Hyatt, a Forbes top 10 marketing expert and one of my favorite business guru’s, wrote a wonderful article about being crystal-clear on your vision. He says, “vision and strategy are both important, but vision comes first. If you have a clear vision, you will eventually attract the right strategy. If you don’t have a clear vision, no strategy will save you.”
Isn’t that insightful? What I have learned is having a vision is not enough. It’s having a clear vision and the ability to execute with clarity that separates a fifty-thousand dollar business from a fifty-million dollar business. It’s the ability to see where you are and where you’re going at the exact same time.
I often tell my clients a small vision yields little. I will share the same advice with you. If you want to grow your business, grow your vision. Maximize and clarify it. Have a well defined plan in place to grow and sustain it. Be in sync with the innovation in your industry and implement revenue builders that support your goals.
It’s not easy building a successful business, but make no mistake, you can do it. Now is the time to stop, take note and make sure you know the rules to the game. Know your consumer, network more and clarify your vision.
Teri Nichole Harrison is an attorney, success strategist and motivational speaker. She is the CEO & founder of Fearless & Fabulous Worldwide, a personal development and business consulting firm for women entrepreneurs. Teri is also the founder and Managing Partner of the Tennessee Business Law Center and the author of Winning at Entrepreneurship: Innovative Strategies for Small Business Success. Follow her on Twitter: @_TeriHarrison.