Advertising
Advertising

Five Ways to Sprint to the Top in Business Before 2018

Five Ways to Sprint to the Top in Business Before 2018

It’s a new week and a new year, which means if you haven’t done so already now is the perfect time to plot the way forward, as a business owner. Here are a few strategies to implement to ensure that your business is where you want it to be by the end of 2017.

Take the time to analyze the field

If you have been in business for a while, always make sure to take the time to analyze new trends in the field. You never want to become set in your ways, no matter how successful you have been; new trends can threaten to overtake your business at any time.

As a business owner, you should continually keep your eye open for emerging products, methods, and businesses. You can examine these trends and incorporate them into your own business to stay up to date in a competitive field.

Advertising

Take particular note of up-and-coming businesses in your field. What types of products are these competitors offering? What new business models are they using? You can learn much from the competition. So, use this knowledge to incorporate products and methods that will keep your business up to date.

There’s more than one way to do it, by the way. For example, you could keep an eye on your competitors’ social media accounts, paying close attention to interactions between them and their customers. Or, you could go the old-school route and place an order with them to get a better idea of what their customers experience. Doing so can provide powerful insight into what separates you from the rest of the field.

Don’t be afraid to take calculated risks

Very few businesses succeed without taking active risks. Just the action of starting a business is a risky proposition given that the majority of businesses end in failure. To get ahead and to position your company as a competitor, you must establish original products or ideas that can help you stand out and attract clients.

Advertising

Since each new product or idea has the potential to end in failure, new ideas can be classified as risks. Each risk you take should be fully calculated and researched. You took your biggest risk, starting your business because you felt that your idea had a place in the market and would be successful. You performed research and laid out a business plan that you knew couldn’t fail. The same should go for any product(s) you launch or new methods you incorporate into your operation.

A practical way to take a calculated risk is to do what some call a beta launch, which is a limited pre-launch of your offerings. Often beta launches are introduced to smaller segments of your audience. The purpose of a pre-release is to get feedback from your audience. Positive feedback could mean that you should proceed with a full-scale launch while lukewarm responses could tell you what to improve upon before launching.

Practice effective time management

Proper time management is the ultimate tool for getting ahead. If you spend too much time on matters other than moving your business forward, then this is time wasted. Of course, there will always be day-to-day tasks that come with the territory of being a business owner; many of these items are not specifically related to business growth.

Advertising

You still need to make sure to dedicate the necessary time to growth.To make this easier for you, delegate some aspects to your staff or make sure to schedule in enough time to deal with important matters.

Getting too bogged down in the mundane will cause you to lose sight of what you should truly be doing, which is focusing on growth.

A practical way to focus on growth would be to plan weekly strategy sessions to ensure everyone is on the same page; this can energize your staff by keeping them focused and making them feel a part of the team.

Advertising

Set concrete goals and plans to reach them

What are the specific goals that need to be reached for your business to be considered a success? Mapping out your plans early on gives you a blueprint that you can consult at any time going forward to see how well you are progressing toward your goals throughout the year.

Want to put this strategy into action? Take some time to sit and devise a set of concrete goals that you’d like to accomplish in 2017. For each that you come up with, you can also outline a series of subtasks that will help you achieve your larger objectives.

Armed with these strategies, you’re ready to put your plans in motion. So, what are you waiting for? Let’s go out and conquer 2017!

Featured photo credit: www.unsplash.com via unsplash.com

More by this author

Why should Small Business Owners shift to Cloud-Based Accounting Software? New Girl Has Broken Sitcom Stereotypes How American TV Show New Girl Has Broken Sitcom Stereotypes Startup's first office space 6 critical considerations for your startup’s first office space Are you a Boss or a Leader? Are You A Boss Or A Leader? And One Is Definitely Better Than The Other Five Ways to Sprint to the Top in Business Before 2018

Trending in Entrepreneur

1 13 Characteristics of Highly Successful Entrepreneurs 2 How to Start Working for Yourself and Become Your Own Boss 3 Top 5 Easy-to-Use Accounting Software for Small Businesses 4 10 Best Success Books You Need to Read to Be Great at Business 5 16 Young And Successful Entrepreneurs Who Prove That Age Is Nothing but a Number

Read Next

Advertising
Advertising
Advertising

Last Updated on March 29, 2021

5 Types of Horrible Bosses and How to Beat Them All

5 Types of Horrible Bosses and How to Beat Them All

When I left university I took a job immediately, I had been lucky as I had spent a year earning almost nothing as an intern so I was offered a role. On my first day I found that I had not been allocated a desk, there was no one to greet me so I was left for some hours ignored. I happened to snipe about this to another employee at the coffee machine two things happened. The first was that the person I had complained to was my new manager’s wife, and the second was, in his own words, ‘that he would come down on me like a ton of bricks if I crossed him…’

What a great start to a job! I had moved to a new city, and had been at work for less than a morning when I had my first run in with the first style of bad manager. I didn’t stay long enough to find out what Mr Agressive would do next. Bad managers are a major issue. Research from Approved Index shows that more than four in ten employees (42%) state that they have previously quit a job because of a bad manager.

The Dream Type Of Manager

My best manager was a total opposite. A man who had been the head of the UK tax system and was working his retirement running a company I was a very junior and green employee for. I made a stupid mistake, one which cost a lot of time and money and I felt I was going to be sacked without doubt.

I was nervous, beating myself up about what I had done, what would happen. At the end of the day I was called to his office, he had made me wait and I had spent that day talking to other employees, trying to understand where I had gone wrong. It had been a simple mistyped line of code which sent a massive print job out totally wrong. I learn how I should have done it and I fretted.

My boss asked me to step into his office, he asked me to sit down. “Do you know what you did?” I babbled, yes, I had been stupid, I had not double-checked or asked for advice when I was doing something I had not really understood. It was totally my fault. He paused. “Will you do that again?” Of course I told him I would not, I would always double check, ask for help and not try to be so clever when I was not!

Advertising

“Okay…”

That was it. I paused and asked, should I clear my desk. He smiled. “You have learnt a valuable lesson, I can be sure that you will never make a mistake like that again. Why would I want to get rid of an employee who knows that?”

I stayed with that company for many years, the way I was treated was a real object lesson in good management. Sadly, far too many poor managers exist out there.

The Complete Catalogue of Bad Managers

The Bully

My first boss fitted into the classic bully class. This is so often the ‘old school’ management by power style. I encountered this style again in the retail sector where one manager felt the only way to get the best from staff was to bawl and yell.

However, like so many bullies you will often find that this can be someone who either knows no better or is under stress and they are themselves running scared of the situation they have found themselves in.

Advertising

The Invisible Boss

This can either present itself as management from afar (usually the golf course or ‘important meetings) or just a boss who is too busy being important to deal with their staff.

It can feel refreshing as you will often have almost total freedom with your manager taking little or no interest in your activities, however you will soon find that you also lack the support that a good manager will provide. Without direction you may feel you are doing well just to find that you are not delivering against expectations you were not told about and suddenly it is all your fault.

The Micro Manager

The frustration of having a manager who feels the need to be involved in everything you do. The polar opposite to the Invisible Boss you will feel that there is no trust in your work as they will want to meddle in everything you do.

Dealing with the micro-manager can be difficult. Often their management style comes from their own insecurity. You can try confronting them, tell them that you can do your job however in many cases this will not succeed and can in fact make things worse.

The Over Promoted Boss

The Over promoted boss categorises someone who has no idea. They have found themselves in a management position through service, family or some corporate mystery. They are people who are not only highly unqualified to be managers they will generally be unable to do even your job.

Advertising

You can find yourself persistently frustrated by the situation you are in, however it can seem impossible to get out without handing over your resignation.

The Credit Stealer

The credit stealer is the boss who will never publically acknowledge the work you do. You will put in the extra hours working on a project and you know that, in the ‘big meeting’ it will be your credit stealing boss who will take all of the credit!

Again it is demoralising, you see all of the credit for your labour being stolen and this can often lead to good employees looking for new careers.

3 Essential Ways to Work (Cope) with Bad Managers

Whatever type of bad boss you have there are certain things that you can do to ensure that you get the recognition and protection you require to not only remain sane but to also build your career.

1. Keep evidence

Whether it is incidents with the bully or examples of projects you have completed with the credit stealer you will always be well served to keep notes and supporting evidence for projects you are working on.

Advertising

Buy your own notebook and ensure that you are always making notes, it becomes a habit and a very useful one as you have a constant reminder as well as somewhere to explore ideas.

Importantly, if you do have to go to HR or stand-up for yourself you will have clear records! Also, don’t always trust that corporate servers or emails will always be available or not tampered with. Keep your own content.

2. Hold regular meetings

Ensure that you make time for regular meetings with your boss. This is especially useful for the over-promoted or the invisible boss to allow you to ‘manage upwards’. Take charge where you can to set your objectives and use these meetings to set clear objectives and document the status of your work.

3. Stand your ground, but be ready to jump…

Remember that you don’t have to put up with poor management. If you have issues you should face them with your boss, maybe they do not know that they are coming across in a bad way.

However, be ready to recognise if the situation is not going to change. If that is the case, keep your head down and get working on polishing your CV! If it isn’t working, there will be something better out there for you!

Good luck!

Read Next