Stepping into high performance is the goal for most entrepreneurs. We've turned our backs on the safety of a traditional 9-5 to take life by the horns (risk, rewards, and everything in between) with a singular determination: To create value in the marketplace.
Business strategist Kelly Roach has popularised the term Business Athletes.
We desire to be the best of the best at what we do. However, in a marketplace with many variables, the path to winning is never a straight line.
Rather than be frustrated by the process, we can adopt a pursuit of excellence that aligns with our values and goals, keeping us in the game by making every day a WIN.
How Do We Make Every Day A WIN?
Choose your race.
Very very (repitition on purpose) few athletes can break world records in long-distance running, short-distance running, javelin, and soccer. I think the point is clear! They may be decent or above average at all those things, but if the goal is to be one of the best, then it's time to pick a lane.
If you read my previous article You're doing too much! Grow Your Small Business Without Burnout I shared a strategy to determine the core value your business is creating in the marketplace.
Start with a singular FOCUS.
What's working? What's the proof it's working?
Revenue, profit, returning customers, consistent growth, most reviewed, most requested
Where are the clear advantages over the competition?
Superior tech-know-how, rapid adoption of AI and increased productivity, better network for client referrals, most reviewed, greater visibility, a notable personal brand and social media presence
What's the greater mission and vision of this business? This is the business compass. Clarity on this helps speed up decision-making.
Theoretically, you do everything, but you shouldn't --
The Vision Test: Does this add rocket fuel to our mission?
The CORE = OUR RACE
Determine the Key Performance Indicators (KPIs)
If we will be the best at X, what do we need to get right consistently?
**Miss this step, and we're in dreamland.** It's like thinking you're a fast runner, but there's no record of your time. How do you know you're fast? What does fast mean? Compared to what? More importantly, how do you know you're improving? Or where to improve?
The purpose of KPIs is to:
measure progress toward strategic goals
ensure accountability
and drive informed decision-making.
Tracking and analysing KPI's allows us to optimise our business operations for growth and success.
"If you can't measure it, you can't improve it." ~ Peter Drucker
I know sometimes the 9 to 5 rebel in us doesn't want to do traditional business things. I've been guilty of this too! BUT... there's no need to reinvent the wheel.
If it's not broke, don't fix it.
We can easily miss the picture of what's actually happening in our businesses until it's too big to ignore. Use the data to see things before they hit the crisis - it's a BIG fire that's burning the house down phase.
Divide the KPIs into leading indicators & lagging indicators
KPIs can be divided into two categories:
Leading Indicators: The daily actions that will set you up for success.
Lagging Indicators: The outcomes or end results that show how well you're doing. indicators are the daily steps to take to achieve the lagging indicator result.
For example:
Lagging Indicators (End Results) | Daily Steps (Leading Indicators) |
Revenue Growth Rate – How much revenue increased over a set period | Daily Sales Calls Made – More calls lead to more conversions |
Customer Retention Rate – % of customers who stay over time | Follow-up Emails Sent – More engagement increases retention |
Profit Margin – Percentage of revenue left after expenses | Expense Tracking – Monitoring daily spending to control costs |
Social Media Engagement – Likes, shares, and comments over time | Posting Consistently – More valuable content leads to higher engagement |
Website Traffic Growth – Monthly increase in visitors | Daily SEO & Content Creation – Optimized content drives more traffic |
Lead Conversion Rate – Percentage of leads that turn into customers | Daily Outreach & Lead Nurturing – Engaging leads improves conversion |
Winning the day is about focusing on the daily steps that ensure the achievement of the bigger goal.
Our to-do-lists as small business owners should be comprised of the key daily steps that will help us reach our goal.
It's not as exciting as being creative and tapping into being a multi-passionate entrepreneur but the statistics for small business survival are dire --it's not pretty.
When we do the things we should, we create opportunities to do the things we would like to do.
"Fear not the man who has learned 1,000 different kicks, but the man who has practiced one kick 1,000 times." – Bruce Lee
It's not going to be easy, but it's going to be a journey well worth it.
🎯"Whatever you do, work heartily, as for the Lord and not for men." – Colossians 3:23
May God grant you a spirit of excellence. 🙏🏾
Blessings!
P.S. If you love what we're serving here at the Faith & Biz Blog, please share with your biz bestie and have more conversations around these principles and ideas to bring more inspiration to your entrepreneurship journeys.
Comentarios