5 Winning Ways To Turn Your Business Around
The world is full of pessimistic individuals who are tirelessly working to pull you down, but if you are a real entrepreneur with a BIG DREAM and determination to make it happen, then you may be in the minority of business people who achieve success.
Business can be a rollercoaster and there is always something that pops up that will challenge you and make you dig deep for solutions that may not be obvious at the first glance. It's part of the journey that both you and I have signed ourselves up for.
Creating a winning formula for business isn't easy and the reality is that for most, it is near impossible. But if you are serious and you have the vision to take your business to the next level, from whatever position you are in today, then you may be someone we will all read about in Forbes or Inc Magazine in a few years time - and I can't wait to see that happen.
This blog '5 Winning Ways To Turn Your Business Around' is my story - not necessarily yours. I will share with you my insight into what I believe to be the future of Marketing Eye and how we are going to cement ourselves a global small business marketing company that is unparalleled in the market place.
Marketing Eye is currently in Australia and the US markets. In Australia, our market position as an outsourced marketing department is number one with no competitor close to providing the quality of work, leadership, innovation, technology and tactical marketing capabilities as Marketing Eye. In the US, we are a startup, that sailed through the first 12 months with ease. The second 12 months first two quarters were a different story - and I would have to say that we took our eye off the ball. How this happened was simple; we had administrative things to do in Australia including taxation audits to contend with, and had to shift our focus from expansion to managing the things that we had to do from a government and administrative perspective. Additionally, we are innovators and as such, we are building technology. When the leader stops being a leader, and starts just focusing on innovation, there is a gap, and everyone can see it including the entrepreneur, but often, like we did, it can be put to the wayside.
It's been 6 months of tumultuous business activity. Australia is growing rapidly, we have moved offices and we are about to release our biggest technology innovation to date. It's exciting times, but right now, the focus has to be on the business and where we are heading. It is also a great time to look at the business from a new perspective and ensure that we have people dedicated to every area of the business driving its success.
The challenge we are faced with is making sure that every area of the business is getting the attention it deserves and that the new innovations are being launched to the target audience at a rapid pace with the love and care they deserve. At the same time, we need to recruit marketers and re-train them on how to do marketing - our way.
5 Winning Ways To Turn Your Business Around
- Improve processes: Marketing Eye is a process-driven business and we have technologies to underpin the marketing process, on-boarding new clients and training new employees. But times have changed, and so do these processes. Ensuring that every process is on-point and structured to integrate seamlessly with other areas of the business is imperative. Hiring a person who just works on processes is our way of improving the processes and ensuring that our technology is effectively powering this important infrastructural dimension of our business.
- Empower people: Without people, you don't have a business and the people that work for you are singularly the best brand ambassadors you could possibly have. Giving them the power to reach their goals and in turn, reach yours, is imperative to business success. However, this is easier said then done. Marketing Eye is currently looking for a "happiness officer", someone who just makes people happy and their daily lives at work easier. Not every company can afford this, but for our business where people usually have a certain personality type, it is critical. Also, many entrepreneurs micro manage and although I don't, it is important for all entrepreneurs to be aware that if they do, it may be stifling their business success.
- Innovate often: If you provide a product or service and you don't change that for 5 years - then expect to not last the test of time. We are a marketing services firm ultimately, and we continually innovate and improve what we do and how we do it. We develop technologies that ensure our team works harder, faster and smarter than our competitors - giving our clients better value for money. We also change-up our processes and systems so that we are constantly on the improve. On top of that, our latest technology is a complete game-changer. No other marketing services business will be able to provide what Marketing Eye does, at the price we do and with the value and quality of production. It is our outstanding value proposition that sets Marketing Eye apart from the entire market and allows us to expand globally with an offering that is 'too good to refuse'.
- Finance yourself properly: It is hard to build a business from nothing and as you grow, often more funds are needed to reach your goals. There is risk in not using your own money fund growth, so having a good accountant and lawyer is paramount. Also, understanding all the funding options available to your business and speaking to people who have been there and done that is possibly the best use of your time.
- Leadership: If you worked for your company, what type of leader would you like to see steer the ship? By asking yourself this question, and understanding the dynamics of your workforce, you are able to better define who you should be as a leader in your business. If you don't fit the job description, make sure you stand aside and bring someone in that does. Sometimes the leader doesn't necessarily need to be owner of the business, but someone who inspires the best in the people you employ.
"The best way to predict the future is to create it." Peter Drucker.