Building Long Term Success
The Pandemic created conditions over the past 14 months that were totally unexpected. As an entrepreneur, you were faced with circumstances where you couldn’t get the support that you needed.
Surely, these external factors were adversely impacting your plans, processes, and overall performance. However, you are now faced with finding a path for business success despite daily changes in the economy.
So, here are several things to consider:
- Understand where your performance is suffering.
- Collect data that provides you performance metrics on what you do. E.g., if you are selling products, which products not only sell the most but are returned the least. If you provide services, how often is the customer returning to you for more services, (i.e., retention), or referring new clients to you (testimonials)?
- What is the foundation of your customer onboarding process? Can it be enhanced to create a better customer experience (conversion)?
- What can you do in-house to reveal opportunities for improvement as it relates to service or product quality, improve processes for business performance, or something as simple as staff development to improve morale or loyalty (performance management)?
- What have you learned that is new about your sector and how have you applied this fresh knowledge to your venture? (strategic planning)
If you take the time and look objectively and evaluate quantitatively, you will find your external circumstances may not have improved whatsoever, but you can always control (and usually improve) your OWN qualitative performance- and that’s what leads to long-term success.