Ask yourself this question; If you decided to take six months off from the business – as opposed to the old “what happen if you get hit by a bus” question – can your business survive without you for an extended period of time?
50% of business fail within the first 5 years of business and less than 1/3 of businesses survive 10 years+. The dropping of the ball when it comes to financial planning and monitoring, marketing, staffing, inventory management, order processing, customer mining and acquisition, billing, to only name a few, can be devastating to a company’s vitality.
As ‘boomer’ business owners approach their 60’s, thoughts often turn from an ‘achievement’ mindset to one of ‘quality of life’ values and concerns. It becomes a time of reflection; a time to sort out life’s purpose and values; and to determine when enough is enough.
Baby boomers…the generation born between 1945 to 1964 were originally defined because of the peak birth rates that resulted from the men returning home from WWII after their long absence. Since their birth, they have supercharged the economy by their unprecedented shear numbers, creating huge waves of demand and opportunity.
Both the marathon runner and a successful business owner look ahead and set a challenging stake in the ground of where they want to be sometime in the future. To be winners, both realize that they can’t just aimlessly move ahead and only rely on hope to reach their end goal.
As the economy continues to inch forward at a pace much slower than most of us would like, take advantage of the improving conditions and accelerate your business’s growth at a more rapid rate by following a few proven action steps.
Three suggestions that offer a business owner uncomplicated proven action steps to increase revenue and profitability. The steps are simple; the secret of their success, however, lies in the execution. There are no silver bullets. Put in the time and you’ll be justly rewarded.
“I can now honestly say I have the time and ability to work “on” my business’ growth, instead of the day to day business activities. With improved systems in place, real targets and goals have been established and I can take a more proactive approach to my business. Helped us reorganize from the ground up and work more productively and efficiently.”