I just finished a three day conference with the Public Speakers Associate #psaconf. It was a great event and I enjoyed listening to and learning from others about how to better my craft and my business. It made me realize that as business owners we must continue to learn and grow. If we want to continue to stay in business we have to be willing to make necessary changes. Even those changes that we normally do not consider.
In every business there are four categories that work together to form the basic strategic framework of success. Everyone defines it differently but no matter how you look at it there are really only four: Legal Strategies, Financial Strategies, Marketing Strategies, and Management Strategies. Some people focus on one or two but each is essential to long term business success. Focusing on one without the other leaves your business unbalanced and causes instability. Each strategy intertwines with the other and each have their own separate issues and processes.
How often do you think about these strategies in your business? Most small businesses only focus on marketing. What good is marketing without having a strong legal, management and financial foundation? When you successfully launch a marketing campaign do you have the right tools to handle the increased work load? Do you have enough employees or the right equipment to work with 1000 clients vs. 100? Do you have the time or the ability to meet the deadlines? If you do not meet the deadlines required by your client, how would that affect you legally? How would that affect you financially? These are the things you have to think about as you continue to grow as a business and organization. How are you going to make sure that your business has what it takes to go to the next level?
Shahara Wright is an experienced and highly sought after business law attorney and business strategist. She is the author of From Entrepreneur to CEO and host of the CEO Collaboration Circle. Shahara founded The CEO Effect, LLC to work with small business owners who want to implement strategy to build capacity.