It has often been said, “If you always do what you have always done, you will always have what you always had”. I don’t agree.
Most often, if you are not moving forward you are actually moving backward.
The biggest risk in business is complacency.
William Pollard said, “The arrogance of success is to think that what we did yesterday is good enough for tomorrow.”
One of the greatest dangers of complacency is that it creates blind spots, causing you to miss necessary change and growth. Blind spots refer to those critical areas that need to be addressed but are not because you are not aware of them or refuse to acknowledge them.
We need to be constantly re-evaluating our business. Here are some areas to consider:
Sales process
Have you analysed your sales ratios? What is your ratio of client interactions to sales?
What is your closing ratio?
Connections:
Good connections are vital for a successful business. Is it time you reconnected with a client or potential client? Do you have connections that could be referring your business or collaborating with you (and vice versa)?
For example, as a personal insurance broker I talk to my clients about planning for the future so I often have the opportunity to refer them to a lawyer. Conversely, accountants often have the opportunity to refer their clients to me knowing that they are adding value to their clients by doing so.
Staff
Have you assessed your staff’s performance? Is there a way they can be happier in their work life? Can they be more efficient? Are they passionate about their work and your business?
Marketing
Do you have a marketing plan? Are you reaching your target clients? How do you expect to make money without a well planned out marketing schedule?
Accountability
Make yourself accountable to a network of fellow business owners as well as a business or marketing consultant. It is hard to become complacent when you are inspired by other business owners and are encouraged by an expert.
