STRATEGIES TO DOUBLE YOUR REVENUE

1.) Dramatically Reduce Sales Cycle Time

The first is from Dr. Victoria Medvec, negotiations expert from Northwestern University and author of the series Nothing Improves Cash Flow and Revenue More Than Reducing Your Sales Cycle Time. And an important technique to dramatically reducing it is to use synchronous communication throughout the sales process.

“This starts with NEVER presenting a sales proposal to a customer without being on the phone or meeting them in person,” notes Medvec. Emailing a proposal to a customer ahead of a meeting doesn’t give you the opportunity to react immediately to potential concerns and objections that might arise as they read through your proposal.

It has been found that the more time the customer has to ponder an objection and potentially pollute their colleagues with negative reactions (or spouse if it’s a business to consumer sale), the more difficult it will be to move the sales process forward.

Even if the customer is adamant about receiving a proposal ahead of a physical meeting, suggest it will save them time if you can review the proposal over the phone and that you’ll email it to them a few minutes before a scheduled phone call. What you and your sales people want is the opportunity to see, hear, or at least sense specific objections, as you review the proposal, so you can react immediately. And then you want to continue to utilize various communications for the rest of the sales negotiation process i.e. if a customer emails back a question, pick up the phone and discuss with them vs. simply emailing an answer back – it gains you more clarity, builds the relationship, and avoids misunderstandings that come with email.

“I’ve seen this single technique reduce sales cycles from months to weeks and even to days,” concludes Medvec. Fred Crosetto, CEO of Seattle Ammex, who has seen his company achieve record revenues the first part of 2009, is so convinced of the power of this technique that he’s driving it across his entire company using Medvec’s series.

 

2.) Pricing with Confidence

Of the four P’s of marketing (Price, Product, Promotion, and Place), Price is the only one which directly puts money to your bottom line and into your pocket. Yet I continually find companies setting price with little or no strategy behind their decisions. And panicked decisions about pricing in troubled times can be costly in both the short and long run. For answers, read Reed Holden and Mark Burton blog. Pay particular attention to Rule Three in their book where they outline three simple pricing strategies all firms can use.

Noted Burton in a recent conversation, “too many firms have gotten caught flat-footed and are using price discounts in a panic to try to keep demand that is going away no matter what they do. The firms that do this are creating two very significant long-term problems. First, they are destroying the integrity of their pricing and the value of their brands. Second, they are training their customers to negotiate for every last penny thus undermining their most valuable asset – trusting customer relationships.”

Both of these forces will make it extraordinarily difficult to bring prices back up when the economy finally does turn. In addition, it will take much longer to bring prices back up to a level that reflects the true value of the goods and services being sold.

Burton suggests the way around this is to look objectively at pricing as a strategic tool that must be managed systematically based on value, market demand, cost structure, product lifecycle, and firm capabilities. This view leads one to make decisions on the basis of preserving and gaining pricing power be it through reducing capacity to match demand, introducing low price – low value offerings, or making systematic adjustments to price lists so that list and street prices are more in line.

 

3.) Multiple Channels

“Place” is one of the other four P’s of marketing. And research by Neil Rackham, modern sales management techniques, reveals that companies with more sales channels trump competing firms with less. This means setting aside all the debate about protecting various territories and giving your customers as many options for purchasing your product as you can. In the end, you can’t dictate from whom and how your customers will purchase your products and services. They all have different preferences and will find competitors who give them these options.

In turn, it’s up to your various sales channels to earn their right to distribute your services. If the customer wants high-touch, value-added consultative help in purchasing your product, they’ll utilize that channel. If instead, they prefer to “do-it-themselves” then give them that option as well. Read Michael Masterson and Mary Ellen Tribby book as they detail how to utilize a dozen different marketing channels for your business.  She said, I’ve been visiting with a Sydney-based entrepreneur who has seen his revenue jump 70%. One key is a website he’s launched that allows his do-it-yourself customers to purchase products direct from his factory versus through his normal channels. To smooth over what could be contentious channel conflict discussions with his agents, the website does offer a slightly different product line and it trades under a different name. However, he’s utilizing multiple channels nevertheless and it’s driving revenue.

4.) Half the Customers; Twice the Attention

Though a repetition of Neil Rackham’s advice, more than ever you need to identify your best customers and shower them with twice the attention.

Chet Holmes, author of Mega-Hit, drives home this point in Chapter 4 of his book. Holmes, who doubled sales three years in a row for nine divisions of Charlie Munger’s firm (Munger is Warren Buffett’s partner), encourages firms to focus on their Best Buyer or Best Neighborhood and then create a nurturing marketing campaign that touches these customers 10 to 15 times with educational information. If you’re not familiar with nurturing marketing, also read Jim Cecil’s book it starts with doing a thorough job of researching the benefits of your product or service. For one major roofing company, Holmes’ market research firm found that a large percentage of the time a roof is replaced when it only needs repaired. In turn, greater than half of all building maintenance problems emanate from problems with the roof.  Armed with this research, the company structured an educational campaign that reached out to the owners of large facilities every two weeks over a period of months, which dramatically increased warm leads for the sales team to close.

 

5.) Web 2.0

 

The third P of marketing “Promotion” has taken on a new twist given the power of the Web to reach customers. Given the confusing array of terminology and options, read David Meerman Scott’s best-selling book. The title itself gives you a flavor for the array of inexpensive promotional opportunities available to a growth firm. And his book is the first to explain the options in a way that non-tech growth company executives can understand and implement.

USE THE SAME BUSINESS MODEL AS FORD

Quarter after quarter for almost two years, the news out of Ford Motor was astonishingly good. Under Chief Executive Officer Alan Mulally, who'd joined the company from Boeing in 2006, Ford had not simply avoided bankruptcy and a federal bail-out, it had turned itself into the world's most profitable automaker. It beat analyst estimates for seven consecutive quarters and drove its stock to a nine-year high of $18.79 on Jan. 27, up from $1.26 on Nov. 19, 2008. Last year, hits such as the Fusion family car and Fiesta subcompact propelled sales of Ford models upward at twice the rate of the overall market. And the 65-year-old Mulally, a gifted and relentlessly upbeat salesman, wasted no opportunity to look into the eyes of analysts and reporters, squeeze their forearms, and remind them how "fabulous" Ford had become.

Late in 2009, Mulally began to see some new signs of trouble. Inside the Thunderbird Room on the 11th floor of Ford's Dearborn (Mich.) headquarters, the windowless conference chamber where Mulally meets around a circular table with his 15 top executives every Thursday at 7 a.m., some of the news suddenly wasn't good. At these 2 1/2-hour meetings, known as BPR (Business Plan Review), he requires his direct reports to post more than 300 charts, each of them color-coded red, yellow, or green to indicate problems, caution, or progress.

At the BPR, Ford Chief Financial Officer Lewis Booth might give an update on debt reduction, or Americas chief Mark Fields might go over the mix of red, yellow, and green on new model launches. (Fields is famous for being the first Ford executive to put up a red light four years ago when he delayed the launch of an SUV because of a balky tailgate, earning him applause from Mulally for his honesty.) Afterward, the adjoining Taurus and Continental rooms are papered with these charts so Mulally can study them. As the CEO likes to say, "You can't manage a secret. When you do this every week, you can't hide."

The Ford executive who couldn't hide in December and January was European chief Stephen Odell. His slides told Mulally that heavy discounting was going on in the European Union, a market where there were too many car factories and too few buyers. Mulally had assured analysts that Ford would make money in Europe, but the risk of a fourth-quarter loss was rising. As the rectangles on Odell's slides turned from green to yellow to red, Mulally decided not to follow his competitors into the bargain basement. He was trying to elevate Ford's reputation; unloading cars at just above cost might have helped his quarterly return, but he was certain it would hurt his brand.”

The Rockefeller Habits

Interestingly enough, Ford adopted the Dashboard concept of Red, Yellow Green in the prioritization of their reporting systems.  This concept was originally authored by Verne Harnish, in the book, Mastering the Rockefeller Habits.  Here is the simple explanation . . .

   Green = Define Your Goal

 

   Red = Decide on the Minimum level of acceptable performance

 

   Yellow = Between Minimum and Goal

 

   Super Green =  Exceed Goal by a Significant Margin

 

Every business owner can adapt this reporting method, with minimal time investment and resources.  When you take a quick glance of your Dashboards, each category tracks critical areas of your KPI’s (Key Performance Indicators).  From this, you get a 5 second visual check of the critical areas of your business. 

Much like your car, when the Oil light is flashing Red, you know that something is happening in your engine (or in the case of your business) that needs your undivided attention and immediate action.

When you have a Dashboard, which tracks all of your KPI’s  . . . . "You can't manage a secret. When you do this every week, you can't hide." 

THE FOUR D's OF EXITING YOUR BUSINESS

Death:

The issue of the death of a business owner should be considered during the start-up of a business. Unfortunately, during the creation of many buy/sell agreements the issue of death is only addressed at the urging of a life insurance agent. At the meeting, you arbitrarily decide how much insurance you can afford and how much your company is worth, when in fact you do not know.

 

Disability:

Death is not as likely to end the business relationship as disability. The business survival will often take prescient over paying a disabled partner. If the person is important to the business, the financial strain impacts the business and the family who depends on the income.

Divorce:

You can imagine the torn feelings if a disability occurs, but what if the partners cannot get along? How do we split a partnership without financially ruining each other? It may be complicated by many personalities, some may not even be a part of the dispute, yet may be affected financially.

 

Departure:

You may all be happy working together, but your partner or you may decide to leave for another opportunity or simply to take life easier. Who is going to do the work? What is owed the leaving partner? Where is the money coming from? All important considerations for your business exit strategy.

 

A Fair Buy/Sell Agreement

For the business owner, each one of the four D’s has special demands on: family, income, taxes, and transfer of control of assets. An agreement, commonly called buy/sell agreements, can be used to handle the four D's. The concern of the family or income can conflict with the business. The business exists as a separate entity. Reduce conflict by developing mutual fair agreements and the desired level of income.

 

Creating a Business Exit Strategy

- Find a method of determining the value of the corporation that can be done at least annually and will qualify under IRS standards.

- Develop an employee benefit plan that will assist with the departure of each partner in case of death, disability, or retirement.

- Plan for who retains company ownership and who gets paid off.

The great American dream is to: build a business of your own; bring it to life; and make it successful. How you plan your business exit strategy will determine your financial success. Just as building a successful business takes planning, hard work, and a little luck, so does leaving it.

THE 21 IRREFUTABLE LAWS OF LEADERSHIP

Leadership guru John Maxwell offers twenty-one “laws”distilled from his experience as an “Expert Leader”.

1. The Law of the Lid.

Your leadership is like a lid or a ceiling on your organization. Your business will not rise beyond the level your leadership allows it to grow. That’s why when a corporation or team needs to be fixed, they fire the leader first.

2. The Law of Influence.

Leadership is about influencing people, nothing more, and nothing less. The true test of a leader is to ask him or her to create positive change in an organization. If you cannot create change, you cannot lead. Being a leader is not about being first, being an entrepreneur, being the most knowledgeable, or even being a great manager. It’s not the position that makes a leader, but the leader who makes a position. The very essence of all power to influence lies in getting the other person to participate (or buy-in). “He who thinks he leads, but has no followers, is only taking a walk.”

3. The Law of Process.

Leadership is learned over time. People skills, emotional strength, vision, momentum, and timing are all areas that can and should be learned. Leaders continually learn and grow to become improve their role as a great leader.

4. The Law of Navigation.

Anyone can steer the ship, but it takes a leader to chart the course. Vision is defined as the ability to see the whole trip before leaving the dock. A leader sees more, sees farther, and sees before others. Preparation is the key to good navigation. “It’s not the size of the project, it’s the size of the leader that counts.”

5. The Law of E.F. Hutton.

Hutton was America’s most influential stock market analyst, so when he spoke everyone listened. When real leaders speak, people automatically listen. Factors involved in being accepted as a new real leader include character, building key relationships, information, intuition, experience, past success, and ability. According to Margaret Thatcher, “being in power is like being a lady –if you have to tell people you are, you aren’t.”

6. The Law of Solid Ground.

Trust is the foundation for all effective leadership roles. When it comes to leadership, there are no shortcuts. Building trust requires competence, connection and real character.

7. The Law of Respect.

People naturally follow people stronger than themselves. Even natural leaders tend to fall in behind those who they sense have a higher“leadership quotient” than themselves.

8. The Law of Intuition.

Leaders evaluate everything with a leadership bias. Leaders see trends, resources and problems, and can read people.

9. The Law of Magnetism.

Leaders attract people like themselves. Who you are, is who you attract and surround yourself with. So “staff” your acknowledged weaknesses with the best available talent, and never sacrifice your standards for talent excellence. If you only attract followers, your organization will be weak. Work to attract leaders rather than followers if you want to build a truly strong organization.

10. The Law of Connection.

You must touch the heart before you ask people to follow. Communicate on the level of emotion first to make a personal connection.

11. The Law of the Inner Circle.

A leader’s potential is determined by those closest to him.“The leader finds greatness in the group, and helps the members find it in themselves.”

12. The Law of Empowerment.

Only secure leaders give power to others. Mark Twain said,“Great things can happen when you don’t care who gets the credit.” … “Great leaders gain authority by giving it away.”

13. The Law of Reproduction.

It takes a leader to grow another leader- followers can’t do it. The potential of an organization depends on the growth of its leadership. “It takes one to know one, to show one, to grow one.”

14. The Law of Buy-In.

People buy-in to the leader first, then the Vision. If they don’t like the leader but like the Vision, they get a new leader. If they don’t like the leader or the Vision, they get a new leader. If they don’t like the Vision but like the leader, they get a new Vision.

15. The Law of Victory.

Leaders find a way for the team to win. Unity of vision, diversity of skills, plus a leader, are all needed to win. “You can’t win WITHOUT good athletes, but you CAN lose with them.”

16. The Law of Momentum.

You can’t steer a ship that isn’t moving forward. It takes a leader to create forward motion.

17. The Law of Priorities.

Activity is not accomplishment; so learn the difference. “A leader is the one who climbs the tallest tree, surveys the entire situation, and yells “Wrong Jungle!” A leader has learned and executes the three R’s: a) what’s Required; b) what gives the greatest Return; and, c) what brings the greatest Reward.

18. The Law of Sacrifice.

A leader must give up to go up. Successful leaders maintain an attitude of sacrifice to turn around an organization. As he worked to turn around the Chrysler Corporation, Lee Iacocca slashed his own salary to $1 per year. ”When you become a leader, you lose the right to think about yourself.”

19. The Law of Timing.

When to lead, is as important as what to do and where to go. Only the right action at the right time brings success.

20. The Law of Explosive Growth.

To add growth, learn to lead followers. To multiply growth, lead leaders. “It is the job of a leader to build the people who are going to build the company.”

21. The Law of Legacy.

A leader’s lasting value is measured by succession.“Leadership is the one thing you can’t delegate. You either exercise it – or abdicate it.”

TIPS ON HIRING THE 'RIGHT' SALES PERSON

Hiring new employees is always challenging; but recruiting and hiring salespeople is even more challenging. The process is rife with great rewards along with potential pitfalls. What follows is both an introduction to the process involved in hiring high performing sales staff, but also a leaping off point for you to explore this area more thoroughly so you can make the most informed decisions possible.

In our Mentoring Sessions, we talk about building a systematized, integrated business that includes a hiring process/system. Part of that process/ system includes a marketing strategy with clear positioning and differentiation, a quality review and control system, a lead generation system, a sales process, a flexible CRM (Customer Relationship Management) System, all of which leverages your salespeople to reach their greatest potential. Yes, I know; it’s a lot more work than simply hiring a rainmaker; but you want all the necessary pieces in place to best support your salespeople.

Next, you must clearly define the position with all responsibilities and capabilities and then decide on the exact KPI’s (Key Performance Indicators) you expect the salesperson to reach. If you don’t have these fundamentals in place it’s much more difficult for a new salespeople to succeed.

To a certain extent, we all have experience in sales and most likely fulfilled the salesperson position yourself. This is extremely helpful information when you finally achieve a production level necessary to hire a salesperson.  This is because you know the “how” of creating sales and building excellent client relationships. You can now translate that knowledge into a systematic path so that others can get the same result you have.

First, be aware there are no shortcuts in this process. It takes time to find the right people, acclimate them to the culture and to train them in your systems. Sure, you can try to find “Super Stars” that start selling the moment they walk through the door, but this often results in pain later on. The best candidates aren’t necessarily the ones that can deliver the most sales in the shortest amount of time. In fact, top achieving salespeople often think about only one thing: closing sales. “Super Stars” tend to do and say anything to get a customer and in the long run they get you into trouble, by not being adaptable, trainable, controllable or willing to follow a system. We all know the ‘pain’ associated with this kind of salesperson.

Therefore, we strive to hire are sales professionals that can generate long-term relationships with customers, and who can convert and nourish those relationships.

The interview for salespeople is crucial. Most great sales people are great interviewers. However, you determine immediately they can’t sell themselves, nor do they fit with your company and culture, they probably won’t fit with your customers.  If they don’t pass the first interview, bring in the next candidate.

Salespeople often break out into two categories. One type will eventually go into business for themselves; the other will always work for someone else. Though both can fit for a while, the second type typically makes the best hire, if you want to reduce turnover in your sales force. Most business owners, want a long term relationships and to keep them producing year after year.

When you hire salespeople, you’re not just hiring an employee. You’re also choosing customers, since your salespeople play a major role in determining the types of customers you have and the relationship you have with them. You want to get it right and hire the salespeople that will bring you the kind of customers you desire.

Great salespeople are always in demand. Mediocre salespeople are fantastic sales people only when it comes to selling themselves (or interviewing).  Always dig deep in your questioning process. Find out whether they hit quotas and meet plans (how, what, when, how, where and why). Past results, awards and behaviors are the best indicators of future success. Believe it or not, the sales profession is one of the easier professions to objectively quantifiable results, with commission reports, production records and W-2’s.

So, the next decision in the hiring process is how you will structure the commission structure. Each type of payment structure attracts a different type of sales person.  For example: there is pure commission, draw plus commission, base salary plus commission, salary and incentives, or salary alone. But the first question you need to answer is, “Which structure fits YOU best?

There are definite opinions relating to each of these;

First, hiring solely commissioned salespeople because they’re the only ones truly invested in results, to hiring salaried employees, which are the best people to create teamwork and an overall investment in the company’s goals and not the individual's.          

Second, the wrong commission structure can potentially alienate the salespeople from the rest of the company. Your employees may view that salespeople work more for themselves than for the company. There are three things to consider:

Commissions typically account for a larger portion of pay when there is a short sales cycle  with high profitability, which is usually quite dependent on the salesperson’s abilities. Commissions play a smaller role when the sale requires greater technical knowledge with a longer sales cycle.  How does each plan best ‘fit’ your Cash Flow?

Third, the wrong commission structure can potentially alienate the salespeople from the rest of the company. Your employees may view that salespeople work more for themselves than for the company.

You run the risk when hiring salespeople that you sacrifice loyalty.  Seemingly with salespeople the sole motivation is money. You need to decide what is most effective in your environment to motivate your salespeople- don’t always assume it is money, nor should you negatively impact your culture or core values.

So, you’re ready to hire. Prior to making an offer follow your checklist of essential steps. (If you don’t have a checklist, create one). Ideas of what to include are:

- Commission Reports, Pipeline status, and W-2’s (past 3 years)

- References from past sales managers about their performance, and customer service levels.

- References from present/ past clients. Talk to the clients they lost.

- Who do you know that they know?  Get an unbiased testimonial from someone you know.

- Put them through a Psychometric Evaluation. (for example DiSC)

- Develop a real training program, over the next 90 days with materials/tests/manual.

- Lastly, have ‘key’ staff members interview them– other can see issues you cannot.

WHAT IS THE RITZ-CARLTON GOLDEN STANDARD?

When comparing your level of Commitment to Excellent Service, how do your Standards compare to the Ritz-Carlton’s?

Start by comparing your written Commitment to Client Fulfillment as compared to the Ritz-Carlton Gold Standard . . .

Empowerment

The now-popular term “empowerment” originated with the Ritz-Carlton. Ritz-Carlton put a dollar figure on the employee’s resources for solving a problem immediately, without checking with a supervisor.  Even a new employee can commit up to $2,000 of the hotel’s funds to bring instant resolution to a guest’s problem.   Clearly, an employee cannot evade difficult situations by uttering, “That’s not my job.”  Job descriptions become irrelevant when guest satisfaction is at risk.

The Credo

The Ritz-Carlton Hotel is a place where the genuine care and comfort of our guests is our highest mission.  We pledge to provide the finest personal service and facilities for our guests who will always enjoy a warm, relaxed, yet refined ambience. The Ritz-Carlton experience enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.

The Motto

At The Ritz-Carlton Hotel Company, L.L.C., "We are Ladies and Gentlemen serving Ladies and Gentlemen." This motto exemplifies the anticipatory service provided by all staff members.

Three Steps Of Service

1-    A warm and sincere greeting, using the guest's name.

2-    Anticipation and fulfillment of each guest's needs.

3-    Fond farewell. Give a warm good-bye and use the guest's name.

Service Values

I Am Proud To Be Ritz-Carlton

I build strong relationships and create Ritz-Carlton guests for life.

I am always responsive to the expressed and unexpressed wishes and needs of our guests.

I am empowered to create unique, memorable and personal experiences for our guests.

I understand my role in achieving the Key Success Factors, embracing Community Footprints and creating The Ritz-Carlton Mystique.

I continuously seek opportunities to innovate and improve The Ritz-Carlton experience.

I own and immediately resolve guest problems.

I create a work environment of teamwork and lateral service so that the needs of our guests and each other are met.

I have the opportunity to continuously learn and grow.

I am involved in the planning of the work that affects me.

I am proud of my professional appearance, language and behavior.

I protect the privacy and security of our guests, my fellow employees and the company's confidential information and assets.

I am responsible for uncompromising levels of cleanliness and creating a safe and accident-free environment.

The Employee Promise

At The Ritz-Carlton, our Ladies and Gentlemen are the most important resource in our service commitment to our guests.  By applying the principles of trust, honesty, respect, integrity and commitment, we nurture and maximize talent to the benefit of each individual and the company. The Ritz-Carlton fosters a work environment where diversity is valued, quality of life is enhanced, individual aspirations are fulfilled, and The Ritz-Carlton Mystique is strengthened.

So let me ask the question one more time . . .  So how does your Commitment to Client Fulfillment compare to the Ritz-Carlton Gold Standard?  Maybe, yours might need some improvement.

WHAT IS THE LEADERSHIP COMMITMENT?

All of us that own a business know that owning and operating a business is not something that one undertakes lightly. It requires a huge leap of faith, time and money. It is both exciting to live your entrepreneurial dream and at the same time scary because there is no guarantee you'll succeed- for there is no safety net

As the leader of your business, you are the one with the ultimate accountability for the business’ success. That is a heavy responsibility to bear. When you get into business, you make two significant and serious leadership commitments:

1- To yourself

You've given up the security of working for others (perhaps even a steady pay check) to follow your passion and vision. Stepping away from the familiar requires a great deal of courage, and you owe it to yourself to put your absolute best foot forward to achieve your vision. Nobody else will do it for you.

2- To everyone else

You have made a commitment to all of the people who are impacted by your business: your family, your partners, your investors, your employees... Just to name a few. All of these people rely on your business to various degrees and all have a vested interest in your business succeeding.

For many of us, it is easier to focus on the commitments we make to others than to those we make to ourselves. We cannot stress enough however, how important it is to honor the commitment you have made to yourself.

Leadership Takes Self-Knowledge

If you’re feeling as though you’ve lost touch with your own motivation and commitment; consider what James Kouzes and Barry Posner said in their book, The Leadership Challenge:

“Leadership is an art, a performing art. And in the art of leadership, the artist’s instrument is the self. The mastery of the art of leadership comes with the mastery of the self. Ultimately, leadership development is a process of self-development. The quest for leadership is first an inner quest to discover who you are. Through self-development comes the confidence needed to lead. Self-confidence is really awareness of and faith in your own powers. These powers become clear and strong only as you work to identify and develop them.”

Knowing yourself well—really and truly well—is central to your ability to lead and to realize the commitment you made to making your business dream a reality. Self-knowledge will give you the insight, the strength and the confidence you need to lead because to lead others, you must first lead yourself. And to lead yourself, you must know yourself.

It may come across with a bit of a "new age" or "self help" spin, but the truth is that the role of the leader is the role of the Self. Think about it, the word “leader” carries no connotation of the work or tasks involved, like the words “plumber” or “programmer,” “teacher” or “engineer,” or even “manager” do. Rather, “leader” evokes personal qualities like vision, strength, integrity, honesty, confidence- or whatever your particular definition is.

So if leadership is about the person, and not about the work, to become a powerful leader you must work on yourself as a person. You need to know yourself, and continually develop yourself to be more and more of the person you want to be.

Take a Look in the Mirror

Often, under the pressure to do right by others, you end up ignoring that first and vitally important commitment: the one you made to yourself.  Many small business owners cite “not letting others down” as the main reason for persevering in a barely surviving business long after it’s stopped giving them the personal satisfaction or the financial rewards they wanted for themselves. Do not let it get to that point for you.

Remember to honor the commitment you made to yourself when you started your business and the commitment to create an extraordinary business. Furthermore, is the commitment to lead your company to success with clarity, purpose and enthusiasm. Whenever you are feeling lost, just take a look in the mirror and re-acquaint yourself with the entrepreneur, the business owner, and the leader who got you where you are today. They may all need some nurturing, some support, some guidance, but they are there.