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Revenue is just ONE metric for success
If your business isn’t making money, there’s only so long you can keep going but there’s certainly more to having a successful business than just revenue. I want to break the dogma that says profit is the only key to success. Having an aligned and intentional business and sticking around for the long haul is about so much more.
In this episode, I unpack 4 indicators that, alongside revenue, are important metrics for success. I talk about optimising your business so you’re not responsible for all the things, and having a multi-prong strategy when it comes to generating new business.
I discuss setting tangible goals around the customer experience process, focussing on having loyal and raving fans, and being more strategic and less reactive in your business to help you be in the driver’s seat.
There is so much value here for you today. I look forward to hearing your key takeaways and how you’re implementing them into your business.
Topics We Covered:
[0:40]: I call BS on the ideology that revenue is the only way to measure success and target to form goals upon
[2:00]: What is a sustainable business? You don’t want to be like a one hit wonder.
[3:40]: #1 Your business model. Is it dependent on you doing 100% of the work? If you’re growing your business, you need to sit within your zone of genius.
[5:15]: Use technology to automate, systemise and streamline tasks that don’t need a human touch
[5:40]: Stick with tasks that sit within your zone of genius and outsource everything else. This will be a process.
[6:50]: #2 Your lead generation. How you attract your leads is almost as important as the revenue itself. Consider having a multi-prong strategy
[8:00]: Take some time out to consider where your ideal client will be spending their time and looking for the solution to the problem you can solve.
[8:50]: #3 Loyal and raving fans. Focus on the 4 R’s: Repeat business, Referrals, Reputation, Results for the client. It’s all about happy customers.
[10:00]: #4 Be strategic instead of reactive. To be a true leader in your industry, you need to be going first and not looking at what everyone else is doing. This requires planning.
[11:40]: Recap of the 4 indicators to a successful business
Links and Resources
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About your host, Kristy
Hi, I'm Kristy, thank you for tuning in to the Run Your Business Like a Boss Podcast. My purpose for the podcast is to help Business Owner’s in the growth stage of business (messy middle) have a sustainable business, they love.
I’m an online business coach, based in Brisbane, Australia. I provide 1:1 business coaching, to Service Based Online Business Owner's and a group coaching program commencing in 2022. I believe whole heartedly that having a Business Coach is what gives you the competitive edge. As your coach I support you to overcome challenges quickly, uncover blindspots and make business decisions with confidence and clarity. All of which keeps you moving forward and maintaining momentum.
As your Business Coach, my role is to help you organise and formulate your ideas, turn them into a goal and then into an actionable plan! All while meeting you where you're at and providing you relevant tools and support along the way.
Thank you for tuning in to the Run Your Business Like A Boss podcast!