If running a business feels hard, you’re doing it right!
Pat yourself on the back because it’s no small feat running a business! It’s natural to hit roadblocks, but there is no need to tackle them alone.
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You’re an absolute boss.
No business is flawless… obstacles pop up all the time but say it with me: I deserve success! There are so many factors that determine a business’ success, and it can be overwhelming but congratulations because you’re making a crucial step in identifying those roadblocks inhibiting you from reaching that growth and success you soooooo deserve.
Firstly, it’s important to evaluate your priorities, goals and what’s next to bring you to the next level. It’s easy to get swept up in the hustle and bustle, but I’m here to help you climb to the next level.
Challenge accepted?
The only answer is yes!
Step 1: Conduct a SWOT Analysis and Get Tactical
One of the first steps to level up your business is going to be conducting a SWOT analysis on your business. If you haven’t revisited this or done this before, now is your time.
S = Strengths
W = Weaknesses
O = Opportunities
T = Threats
Identifying your SWOT are important in every business venture. Sit yourself down in the environment that works best for you, and spend some delicate time on this as it’ll likely reveal a long list of potential actions, new ideas, new priorities, and a much clearer vision of your business — and in this case, you’ll have identified the problems currently affecting your business, and have created action steps on how to fix it!
Yes, you may have done this before, but businesses are ever-changing whether you are experiencing growth and expansion, or loss and problems, it’s important to continue evaluating your strengths, weaknesses, opportunities, and threats as your business operates to ensure you’re prepared for what’s next and understand what your next moves need to be to level up.
Step 1: Complete the SWOT analysis worksheet and highlight your priorities from each Strength, Weakness, Opportunity or Threat outlined.
Step 2: Get tactical. Once you’ve done your SWOT analysis and prioritized your action list, it’s time to outline your tactics. Practically speaking, how will you accomplish your goals?
Click below to download my free SWOT analysis worksheet.
Step 2: Understand Your Finances
You don’t have to be a financial wiz to own a business, but you do need to understand the financial terms and indicators so you know where you’re heading.
Step 1: Learn the financial indicators, their definitions and formulas here.
Step 2: Get your books in order! For some, this is the most tedious part, but if you’re not keeping your accounting up-to-date and understanding your cash flow and P&L, then you need to do it now. Only until you align with your finances can you understand what your next steps are in reaching your goals.
If you don’t have your finances organized, it’s time to get it set up now or hire a bookkeeper to help you (plus, it’s a write-off!). QuickBooks is a great tool that I use and you can receive 30% off QB Online and QB Payroll for 6 months if you sign up using this link!
It’s a great one-stop-shop to be able to analyze your financial position and understand those financial metrics. It’s easy to be able to see your P&L (Profit & Loss), Balance Sheet, and my favorite: the Cash Flow Planner in one place.
Step 3: Create a Plan for Growing Your Business
Completed a SWOT Analysis = check!
Created a tactical to-do list = check!
Updated my books & understand the financial indicators = check!
You’ve got it all down, but now it’s time to create a strategic plan, implement and establish the metrics necessary for bringing your business growth to reality over the next 1, 3, and 5 years.
I’m offering 20% off the JDP Consult Strategic Business plan template so that you can tackle your business planning. This is a thoughtfully curated spreadsheet (that I use myself!) that is designed to propel your business forward with measurable goals and metrics. Available in both Excel format and Google Sheets.
Sign up for the JDP Resource Library (free!) and add the Strategic Planning template to your cart with code TIME2LEVELUP to receive 20% off.
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