With the birth of my totally awesome new baby boy a couple days ago I felt it was only fitting to talk about new beginnings and new chapters.
My wife and I had our 3rd son on Sunday. His name is Micah Tyson Gazaway. We are very excited and now life is suddenly different than it was just last week. We have a new addition and our family has grown by 25%…how would you like 25% growth for your business this year? Most business owners would like that but for some with aggressive growth plans that would be disappointing…so we’re all in different places with our businesses, our plans, and our expectations.
Our new child means several things for us. We won’t get as much sleep. We need to “balance” our time with our other two boys and not focus only on the baby or else that would negatively effect our other boys. We need to plan and communicate better. Just this morning I had to take our 15 month old with me when I took our 6 year old to school and I never had to do that in the past…so he needed to be dressed, we had to communicate on the plan, and we had to leave a little earlier so I could get him in the car seat, etc. Do you have a new initiative or a new chapter for your business? Does it require more time? Does it mean you need a better plan with better communication with partners, employees, etc. Great leaders make these adjustments, do the planning, hit the curve balls, measure the ROI and results, and then continue that process.
Last night at the financing event I spoke at for Entrepreneur Works I talked about the importance of great leadership and I shared a formula for success. That formula for good leadership and success is to plan, execute, measure, and then repeat that process. I don’t know about you but I firmly believe that the ultimate business strategist always wins. This means that if you’re properly planning and have a strategy then you simply employ your tactical initiatives to accomplish your overall goals.
The 3 biggest things, in my opinion, that cause businesses to fail to to not be as successful as they could be are:
1 – Poor or lacking leadership
2 – A poor marketing plan or no marketing plan
3 – Lack of access to capital – aka where were my unsecured business lines of credit when I needed them?
We obviously help people start, build, and grow their businesses by properly borrowing money. If you need unsecured business funding or an unsecured business loan or line of credit then we may be able to help you. As necessary as it is for most small business owners to have access to business credit its also vitally important that there’s a “plan” for how to use those funds that are borrowed and a good portion of your small business loan or your business line of credit should be used for what we call RGA – Revenue Generating Activities. In other words, use your funding to grow your business and drive additional revenue in the door.
I’m sure we would all like to be the next Instagram but you would be wise to start generating revenue and growing your business wisely rather than banking on selling prior to making any money. It’s still a great story but whatever your situation is with your business maybe you’re starting a new chapter or need to start a new chapter. New beginnings can be fun and it doesn’t always mean things were bad before. Sometimes the best time to shake things up is when things are going well. I hope you’re continually looking for ways to make your company better. Improving your product or service or the value that you bring around that is important and, even more important, is the marketing plan that let’s the rest of the world know about you and buy from you…so I hope that part of your new beginning incorporates RGA!