Top Tips For Entrepreneurial Growth

@revenue works with so many talented business owners, and they bring so much wisdom to our lives.

Here are their top tips for entrepreneurs!

The best possible ways for entrepreneurs to go far fast are:

1. Make sure your product or service actually meets the needs or wants of a sizable market.  This means understanding the need, who has it, why satisfying that need matters to them, and how many potential buyers make up this market segment.

2.  Secondly, is the need being met by other providers?  How well?  How can you differentiate your own solution?  If your competitors are well established and comprise a sizable market share, you will have to differentiate your solution and communicate in a way that sells!

3.  Surround yourself with a talented but diverse team. You cannot do it all alone in the window you will have to show traction. Align the right acumen with the vision you have and watch the growth!  Too many entrepreneurs do not have the well-rounded talent to handle all aspects of achieving revenues fast and keeping the back office rolling effectively. Your success is truly measured by your ability to engage the right resources early.

4.  Marketing and growth are paramount, especially if you're looking for funding to grow fast. Sources of funding are interested in whether you have the revenue to show NOW, that you have a solution that matters to a large enough demographic, and that the business model is profitable.  Sales are king in the beginning, NOT perfection.   And sales don't happen unless you can reach your tribe of raving fans.

Trisha Squires

Empowered Leadership Cultivation

www.empoweredlc.com

The single best advice for any Entrepreneur is to “know your numbers” by reconciling your bank account.  How do you know whether your business is succeeding or failing?  How do you know whether things are getting better or worse?

Those numbers are all about the CASH that it takes to operate your business.  That cash reflects the Sales, COGS and Net Income of the company.  It reflects the Inventory you’ve purchased and the Payroll that you’ve paid.  It represents by the checks you’ve written and the deposits that you’ve made.  You’ve all heard that Cash is King.  Well, it’s absolutely true.

Most owners see financial statements.  But I’ll bet most of your eyes just glaze over when looking at the row upon row of numbers.  The best way of understanding how cash is used in your business is to do your Bank Reconciliation.  Think about it.  All of your cash moves through your bank account.  You will see every deposit and expenditure.  Reconcile that account every month without fail, and you will have a clear handle on how much money is coming in, where it’s going to, and how much is left to use next month.

Larry Chester

CFO Interventions

www.cfointerventions.com

The single best piece of advice I have for entrepreneurs looking to accelerate their business is to collaborate and find other people in the same space to learn and grow with.  It isn't about the competition but rather how you can help and be helped by others in your industry or market.

Becky Feinberg-Galvez

Corporate Textiles

www.shop4ties.com

Hire people smarter than you and learn from them. As entrepreneurs, we are all in business because we are great at something, but that in no way means that we are great at everything.  Allowing experts to show you the shortcuts to success, that they often spent years learning for themselves, will give you the ability to grow your business quickly but don't just delegate and walk away. Learn as much as you can so that you can own the process and make the best parts of it a part of your daily practice.

Kristy Dilworth

Smart Dogs Training and Lodging Facility

www.smartdogstraingingandlodging.com


The 5 MUSTS to Consider for your new CRM

The 5 MUSTS to Consider for your new CRM

After more than 10 years of selecting and implementing CRMs for my small business clients I have seen more than my share of struggle, strife and stress when it comes to these tricky systems. We have experienced programming across 14 different platforms and at the end of the day it is basically the same gears and pulleys and what you are truly selecting are systems integrations and the interface. So how is a business owner to choose the right one and set it up for success? Let me share our hottest tips:

1. Align to how your company thinks.  

Every organization has technology and systems plugged in long before they start thinking CRM. Heed this advice: Pick the CRM that most closely aligns with the tech you already use! If you are an Apple shop do not pick Microsoft's most recommended CRM! If you are Google based, use a product that was designed to integrate (I recommend Insightly).

2. Start with the end in mind. 

If you are attempting to program your system yourself, the easiest way is to identify what reports are going to be most valuable for your organization. Do you need to track how long it takes a digital suspect to become a qualified prospect? Do you need to hyperfocus on the usage of your website by current clients? A little brainstorming about the results will allow you to create a map that truly works.

3. Get out of your head.

Creating a map that you can look at and play with OUTSIDE of your own head or in the system itself is critical. Map out the flow of how a prospect flows through the system, which drip marketing campaign it gets added to, and what activity sets need to automate to get them effectively in the pipeline. This kinesthetic, visual exercise will give you the clarity you need to set the program up right.

4. Be dedicated.

I hate to break this to you but, except to a few geeks like me, CRMs are not sexy.  Your staff is not going to be salivating to learn a new and complex system that can feel like busy work. As a leader, you must be 100% engaged with the system and be the example your team can look to. Log in daily. Get excited about the automations and reports. Geek out...and show them the power of systems.

5. Create a training and engagement plan.

Your team will need you to educate them, over and over again, about the power and functionality of your CRM. Create a training schedule, incentive program and stick to it! Think of it like dating. You want to introduce them to each other, and let them go on a few dates before they start seeing each other every day. And, once they are married to it, sometimes it helps to find something to reignite the spark. If you are a soloprenuer then make a date with yourself to keep engaged!

Your CRM can help you automate activity, track the true numbers and bolster sales, but it's going to take some love and time in the beginning.  @revenue offers assistance with selection, mapping, programming, training and more! Enlist an expert today, we are just a phone call away! 630-631-7713