Signs Your Business is on the Right Track

One of the terrific things about being an entrepreneur and starting your own business is that it fulfills a deep urge inside of you. You weren’t born a follower, you were born a leader. People follow YOU and your business just becomes a natural extension of that.

However, this also poses the question: if you’re the type of person that is responsible for carving your own path, how can you be absolutely certain that your path is headed in the right direction?

This is the major challenge of entrepreneurs everywhere, regardless of the type of business they’re running or even the industry they happen to be operating in.

In truth, knowing that your business is on the right track and having the confidence to proceed “full steam ahead” is never the product of any one major indicator and more a series of little ones. If you really want to make sure that your business is moving in the right direction, you’ll need to watch out for a few key signs.

Signs of Success

Perhaps the biggest sign that your business is on the right track is that it’s still a business at all. Remember, according to most studies, about 50 percent of small businesses fail within the first four years. If you make it to day 365, that’s cause for celebration.

Another one of the major signs that your business is on the right track has to do with certain traps that you’ve been able to avoid. Diving at the story beneath those small business failure rate statistics, there are a few common issues that seem to crop up time and again. If you’ve been able to avoid them, you’re already doing better than most.

You’re able to pay your bills (and your employees), you’ve got the cash flow necessary to take advantage of new business opportunities as they happen, etc.
One of the most obvious signs to watch out for that will let you know you’re on the right track is if you’re continuing to expand at a sustainable rate. Every business is going to grow, but sometimes people aren’t prepared for just how quickly the pace picks up.

As your business continues to age, your overhead costs are going to expand rapidly in the short-term. While those balance sheets may be cause for concern initially, remember to take a look at your net income, too.

If the amount of money that you’re bringing in makes the amount you’re spending on things like domains, logos, product prototypes, marketing and other initial costs look reasonable by comparison, congratulations: you’re doing something right.

Perhaps the most important sign that your business is on the right track, however, is word of mouth. You’ve convinced people to talk about your organization and YOU didn’t have to start the conversation. You’ve stopped spending so much time chasing people and are spending more and more time being chased yourself — rest assured that this is very much a good thing.

Sustainable Success Through Visualization

As you hit more and more of these major goals on your business’ road from conception to prosperity, it’s important to resist the urge to rest on your laurels, so to speak. Remember, just because your business is on solid footing today doesn’t mean some major disruption won’t come along tomorrow and set you back. During the early, formative days of any business communication is always key – which is why visualization is no longer a recommendation but a requirement.

Making sure that you’re moving in the right direction (or that you’re moving at all) will involve actively monitoring certain key business metrics. When it comes time to gather everyone together for a status update, don’t force everyone to sit through a dry presentation filled with reams of data that will make their eyes glaze over.

Instead, visualize those business metrics in an internal presentation using online presentation tools. This is the perfect opportunity to not only dive beneath the numbers to get at the larger story at the heart of it all, but to do so in a compelling way that everyone can understand and, even better, relate to.

Remember that part of success in the world of business, regardless of the industry you happen to be talking about, involves making sure that everyone is actively invested in their own personal success as well as in the success of the larger business. Showing people visualized representations of the work they’ve been doing, why that matters and why they’ve been essential contributors is one of the keys to pulling this off.

Along the same lines, take the opportunity to visualize certain marketing initiatives and other major progress reports. Don’t just tell people how your business is doing, show it to them in the form of a visual report or infographic. There are a wide variety of powerful infograph maker solutions that you can use to do exactly that — and you don’t need years of extensive design experience under your belt.

In many ways, this is not much different from what you’re trying to do when you embrace visual marketing techniques. In marketing, you’re trying to show your audience why they should care about your business, your brand, your products and your services because telling them isn’t nearly enough anymore.

The Path to Success Never Ends

You’re essentially taking the same techniques and re-focusing them internally, showing people what they’ve done, why that matters and, most importantly, why you care every bit as much about them as you do about the business you started. It’s about getting people to become emotionally invested in something — in this case, accomplishing your long-term objectives and knocking them down one-by-one like dominos.

If you’re able to successfully accomplish that, you won’t have to ask your team to go above and beyond the call of duty — they won’t be able to help themselves.


avatar

Payman Taei is the founder of Visme, an easy-to-use online tool to create engaging presentations, infographics, and other forms of visual content. He is also the founder of HindSite Interactive, an award-winning Maryland-based digital agency specializing in website design, user experience and Web app development.

The post Signs Your Business is on the Right Track appeared first on SiteProNews.

SiteProNews

, , ,

Comments are closed.

© 1992-2017 DC2NET™, Inc. All Rights Reserved