5 Benefits of Taking Action to Increase Business Success
about 18 hours ago.
Updated about 18 hours ago.
New business owners are especially prone to delay taking action in their business, because the unknown outcome can be pretty intimidating. However, even seasoned entrepreneurs will put off taking action, simply due to the fact they lack the free time to juggle another endeavor.
So, what to do when you know that taking action would benefit your business, but you can’t seem to implement much needed change? Ask yourself these questions:
1. Do I want to increase my income (grow my business)?
2. Do I want to grow my client base?
3. Do I want to create more free time?
If you answered yes to at least one of these 3 questions, then taking action now is the best thing you can do for you – and your business. Just for a moment, let’s go back to the reason(s) you became an entrepreneur? Although there may be many reasons, they are all probably related to the following benefits:
• More free time
• Work from home
• The freedom to make money doing what you enjoy
• Independence, flexibility, and freedom with schedule
• Unlimited earning potential
• Didn’t want to work for anyone
My husband, Bill Bachrach, has a quote that applies to what we are talking about today. He says, “If comfort is your goal, success in NOT in your future.”
Entrepreneurs have many reasons for going into business for themselves, but most reasons are directly related to flexibility, freedom, and income. The key in creating a business that remains flexible, provides freedom, and constantly grows (increasing income) is change. Taking action allows your business to grow with the changing demand and market. Every time you delay taking action, regardless of the reason, you are stalling your business and your success.
Let’s take a look at 5 benefits of taking action – now.
1. Increase Revenue
This should always be the first priority with your business, because when you increase sales, you increase income – and that creates more leverage. The more leverage you have, the easier it is to create a business that fits your lifestyle. Taking action is vital to increasing sales, so do not delay, do not wait – take action now. Whatever ideas you have to increase revenue, implement that new service or product, and get the word out.
2. Attract New Clients
When you create or enhance new products and/or services, you have the opportunity to attract new clients. It’s important to add or enhance at least one product or service each year to keep the business fresh and in view of your clients. Use the launch of a product or service to gain “buzz” by sending an email to existing clients. Offer a “loyalty” discount to existing clients and their friends. You should also post the product or service on your website; link your social networking accounts (LinkedIn, Facebook, etc.) to that page and offer a “pre-launch” discount.
3. Enhance Company Brand and Reputation
What businesses most frequently come to the mind of consumers? The businesses that are consistently in their attention. Clients must be able to see and hear you. Keep the “buzz” going, whether it’s by an email campaign; follow up phone calls; special announcements; mailers; advertising; etc. Being an “expert” is not the most important factor; the key is taking action. The only thing you need to concern yourself with is delivering the results that you say you can deliver. When clients need help, they will come to you, because you are in the forefront of their mind. That in itself conveys the perception of a company with a well-respected brand and reputation.
4. Get Ahead of the Competition
Every time you take action, you take a step ahead of the competition. As an entrepreneur, you are well aware that there are other businesses offering the same product or service you do. So how do you stand out in a crowd? Make yourself heard. When you have an idea, take action. It only takes a single idea to catapult your success – just one – but, it takes consistent action to stay ahead of the competition. Getting ready to get ready or waiting until something is perfect does not serve you well. Stop getting ready to get ready and jump in.
5. Gain Enthusiasm, Avoid Boredom
Getting bored of the same old thing? You have a choice: run your business into a rut or break out of routine. When you take action on a new idea, not only do you have an opportunity to reap the benefits of the previous four benefits mentioned, you have an opportunity to gain enthusiasm. Boredom is one of the most detrimental aspects of running your own business. When you get bored, you delay taking action and that sets many other things into fruition: loss of sales and income, business growth stalemate, lack of motivation – all of which are deadly to your success.
“If you are bored with life, if you don’t get up every morning with a burning desire to do things - you don’t have enough goals.” – Lou Holtz
Whether you are new to the entrepreneur arena or a seasoned business owner, it’s important to think creatively. Taking action from a fresh perspective not only encourages your success, but the success of your business as well.
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