Keeping the Faith – 5 Tips to Stay On Track for Success
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First one discovers an unmet need. Next follows the ambition to start a business and solve that unmet need with products or services that appeal to countless others. Then after lots of research on sourcing, manufacturing, shipping and so on, the idea begins to take shape and a company is born.
Driving this initial momentum is the passion to contribute to the market place, the dream of business success and of course, hope for financial independence. However, once the honeymoon is over and the realities of owning a business become apparent, it can be challenging to maintain that initial momentum and enthusiasm that launched the company. Well, don’t lose F.A.I.T.H. –– Focused tasks , Attainable goals, Individual responsibility, Traceable efforts and Heart-felt support. Keep these in mind to help reignite the enthusiasm that once propelled your business.
F – Focused Tasks
In many small companies, the “to do” list is long and the resources are short. It’s not uncommon for the founding owners to execute several functions across the company. Multi-tasking is perfected if not reinvented. However, it’s not just about getting work done, it’s about thoughtfully spending what precious few resources that are available in the most effective way. This requires a laser-like sense of focus. Know what you want and head straight for it, keeping your eye on the prize the entire time.
For example, if you are trying to establish your business, keep to your core DNA before expanding your brand. For example, if you sell dolls, make sure you are well known as a doll brand before spending resources creating doll strollers. While it may seem like a good idea on the outset to expand your product offering, the effects of splintering your efforts between dolls and doll accessories will stall your overall efforts to establish the company as a leading doll manufacturer. A better use of resources would be to stay focused on creating a great core product and communicating that product to the marketplace.
A – Attainable Goals
To accomplish great things, we must dream as well as act –– Anatole France.
When first conceived, a business has many lofty goals. I’ve yet to meet one owner that doesn’t site national brand status as one of the long-term goals. While this is certainly attainable, at some point, it’s usually not within range in a company’s infancy, and this simply doesn’t refer to chronological age. There are developmental stages every company must meet before maturing. Just like a child, the milestones are unique to each company and its innate abilities to reach them.
The stages: start-up, confirmation (establishing a presence), expansion and refinement all have their own set of goals and bypassing a stage could prove unproductive. For instance, I run across many companies still in the confirmation stage looking to expand into national channels. Not that these brands wouldn’t be desirable at that level, but they simply aren’t ready operationally. Pursuing an opportunity too soon and failing to deliver at that level could be detrimental to the overall longevity of the business. Realistic and attainable goals that match your company’s life stage will prove more successful.
I – Individual Responsibility
For many start-ups, accountability is a fact of life. With a few people doing all the work, dropped balls make resounding sounds upon landing. That’s why it’s important to assign an individual directly responsible for each task and balance out the workload equally. Being specific on what tasks need to get done and who needs to complete them will keep productivity higher and prevent assumptions that someone else is “taking care of it.”
In addition to assigning responsibility, write down the details of the task to be done and when it’s expected to be completed. This will help track efforts toward your goals.
T – Traceable Efforts
Hard work should be recognized. By tracing your efforts you can see the progress being made. Those little tasks should be seen as small triumphs because ultimately they can add up to big achievements. It’s all too easy to get overwhelmed by the daunting needs of running a business and working towards growth. By tracking your efforts, it illuminates the jobs being completed and those that are not.
Similar to weight loss, motivation is tied to results and when we hold out for the big stuff, we can get disappointed when we don’t feel like we are moving toward that goal. By tracking efforts you will be able to see evidence that hard work is in fact having a positive impact on the business.
H – Heart
The passion that kicked off the business tends to wane as the realities of day-to-day duties set in. Dedicate some time once a week to sit down and dream again. Think about where you want to take your business. What are your hopes and goals? Don’t lose sight of these things through the obstacles that every business endures.
When your perspective stays focused on what motivated you in the first place, you can find the energy to persist. This kind of heartfelt support will not only propel you forward, it will lead to the achievement of your objectives.
Keeping the F.A.I.T.H.
Faith can be challenging sometimes. Perceptions sometimes feel like reality, especially when you lose focus on what’s really important to in the long term. Stay focused. Set attainable goals. Assign individual responsibility to tasks. Keep track of your traceable efforts. And most importantly, never lose heart. Challenges will still be difficult, but you will find them more manageable and easier to overcome. The probability of success is greater when you “keep the faith.”
About Insights Discovered
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Based in Las Vegas, Nevada, Insights Discovered was founded by Penny Redlin in an effort to share her professional expertise within the children’s product category. The company’s mission is to give every mompreneur an opportunity for success. Insights Discovered exclusively services children’s products brands. The specific industry focus demonstrates a strong dedication to the unique needs of children’s products companies. Insights Discovered offers strategic planning, market research and traditional marketing services.
For more information, visit www.insightsdiscovered.com or call 702.218.5707.
