Happy Friday. I understand there is a great deal of angst out there what with Britain leaving the E.U., our own political turmoil and the risk of another global recession on the horizon; but try to keep it in perspective. What goes down goes back up. People will save for a while and then spend. Your primary role as a small business owner is to remain faithful to your Company and the value it brings to customers. So again, Happy Friday!
Kubae and I were talking last night and this morning about a woman, lets call her Ann, who was an excellent baker and who decided to open her own bakery. She quit after two months and Ann’s comment was, “Why would I want to go through the trouble of baking 30 dozen cookies if I only make $1.00 a dozen?”
To which I replied, “Why couldn’t she make $1.00 a dozen and sell 30,000 dozens?”
Kubae’s response to my answer was, “What point is there in making 30,000 dozen cookies if she couldn’t sell them?”
I have written about it before but it is worth repeating. Most small business owner focus on the wrong parts of the business. They are worried about the cookies and not about how to get more of the right customers. The right customer will not find you by accident. It takes hard work, dedication, and a willingness to extend yourself to get your ideal customer to come to your door.
One of the things I like to do with a client is walk through their “Imagination”. Much like a therapist, I ask him to close his eyes and imagine his small business as perfection.
- “What does it look like?”
- “Who are the customers?”
- Who is doing what jobs in the business?”
- “How much profit is it doing?”
- Where is the business located?”
Most small business owners cannot imagine these things. They are busy baking the cookies and worrying about “the perfect cookie” instead of “the perfect business”.
Build the perfect business. This starts with knowing your ideal customer and then finding ways to get them to give you a chance to wow them. There are many books on the subject, but I like Michael Gerber’s “The E-Myth” series and also John Jantsch’s “Duct Tape Marketing”.
Both authors try to get us to understand that, perfect cookies aside, there must be some overarching vision. Both call for small business owners to “Work on their business, not in their business.” Both call for small business owners to create systems and processes that can allow your business to grow profitably without you, the owner, having to carry out every last aspect of the business.
How does a baker sell 30,000 dozen cookies? One dozen at a time to 30,000 people. The hard part isn’t making the cookies, it is finding the customers.
I know this has nothing to do with accounting, but there is no fun in accounting if there is no revenue and profit. So, if you feel that making the cookies is driving your business, I strongly suggest you talk with a professional or work with a coach on how to improve your lead generation, prospect education and closing. If you like, you can contact me for a free consultation to discuss how you might be able to generate excitement about your business. And read the books! You will be glad you did.
Have a great Friday and an awesome weekend.