You likely already know the importance of efficiency in a business, but how does one consistently focus on improving their business’s efficiency? In this article, you’ll learn how to identify which business opportunities, such as customers, to pursue and which to decline, as well as how to map out your processes and measure their efficiency.
How to make sure the juice is worth the squeeze…
As business owners, we must be evaluators. This means we must be careful and intentional with which opportunities we choose to pursue.
One of the greatest skills a business owner can have is knowing which opportunities are truly worth the effort and energy required to pursue them.
Just like a lion wouldn’t chase a bird or a rabbit because zebras are much more worth the energy expenditure, the thriving entrepreneur knows which business opportunities will help them continue to thrive.
Rabbit or Zebra?
Are the customers you’re targeting look and sound and behave like rabbits or zebras?
If you were blind, what questions would you ask to figure out whether your target is a rabbit or a zebra?
You need to be able to think about your best, most valuable customers and what characteristics they have so that you can recognise and target them quickly and market to them with efficiency.
Challenge: Who are your zebras, in terms of customers?
What do lions do when they’ve identified a zebra?
- Evaluate – Sometimes you need to say no or be a bit patient and wait for it to get closer. Timing and positioning is important.
- Get moving – Don’t hesitate to take action.
- Work efficiently – Collaboration fosters efficiency. How can you work with others to get the job done?
Process is everything!
The way you operate is part of what defines your business. Mapping out your process can be very helpful in establishing the most efficient and effective ways to work.
To map out your process, you need to:
- Create a big end goal.
- Create small pipeline goals along the way to measure the effectiveness of your activity.
- Plan and track your activity & skill-set so that you can refine your process and make it even more efficient as you progress.
Challenge: Think of the goals you need to put in place in order to catch your zebra, or that great business opportunity you’re aiming for.
Remember, do less better
Once you identify the most rewarding opportunities and the most valuable customers, as well as establish an efficient process, you’ll be dynamically snatching zebras left and right.
Keep in mind the effort what’s needed to pursue certain goals and remember to re-evaluate consistently, ensuring your business keeps thriving.
Has this article got you thinking about your business and how you want to grab the reins and drive it forward but you struggle to find the time or feel that you lack the skills or knowledge to do so?
Are you looking at your screen wondering how or if Good2Great could possibly help you to build a better future for you and your company?
If so, why not check out free ways to learn more either in the fun but growth focussed ‘Friday Hub Zoom Room‘ or let’s meet and chat about your business – it’s our passion after all! Just click this link, it will show you availability in my calendar – just grab a slot that suits you and it will automatically set up and schedule a Zoom meeting and send all the necessary invitations to calendars and email… https://bit.ly/meetingwithjohnny
OR – perhaps you’re still at the start of your business journey – check out Business Start Up Masterclasses