As a business coach, I have the opportunity to coach entrepreneurs and leaders about the latest developments and innovations in the world of business. A lot of entrepreneurs understand the value and they go on to achieve remarkable results. However, I am amazed at the number of entrepreneurs and business leaders that do not see the importance of research and understanding the latest developments across industries.
Businesses that thrive in the twenty first century are led by entrepreneurs that understand the concept of sustainability. Sustainability is not about adapting to the competition— it’s about staying ahead of the competition. Sustainability is about the endurance of systems and processes. Ultimately, it will give businesses an edge in this ever changing economy.
If you’re ready to develop business sustainability consider these four pillars:
Establish a business model.
A business model sets a strategic track for where your business is going. I learned quickly in business that without direction your vision will diminish. Eventually, you will need to set five, ten, fifteen and even twenty year goals for your business. A business model is not just writing out goals.
A business model outlines objectives, strategic paths and desired outcomes. The first few years of my business were dismal because I had no direction. Without setting a strategic track your business will not survive seasons of turbulence and uncertainty. You need a clear plan of how your business will run, what you plan to accomplish and how you will accomplish it.
You need the right systems.
Systems separate elite businesses from mediocre ones that eventually cease to exist. Systems are procedures or outlined steps of how operations are to run in a business. A lot of leaders and entrepreneurs waste countless hours on unimportant tasks.
I have watched people waste entire days without accomplishing anything productive. When you see this trend in your life it is an indicator that you lack the right systems. Instead, create established procedures for routine tasks. This will not only save you time, but increase your productivity substantially. Systems have a massive impact on your bottom line.
Update your strategies.
Strategies are the plans that position you for progress and prosperity in your life and business endeavors. The problem I see in most businesses is that there are no new strategies. If we continue to compete on strategies that are antiquated success will never be achieved. Businesses operate on cycles. Every cycle of business requires new strategies.
New strategies require intentionality, research and instinct. You have to be able to study patterns and trends, connect with customers and follow your gut on where you want your business is going next. If you don’t spend time researching and connecting with customers you will find yourself mimicking others in the market.
Strategies empower you to make big moves in your industry. Just because something worked in one season does not mean it is sustainable in the next season. Do your homework so your business can thrive in any environment. Strategy is vital to creating a sustainable business.
Build a high capacity team.
Capacity is what separates the average person from the high achiever. Your business is only as powerful as its partnerships. You must see employees not just as people working in a company. You must see employees as partners vested in the success of the organization. When you talk about being vested in an organization this requires capacity. This means you cannot just be concerned about filling positions, but you have to find the right people.
You have to find people with the skills, talents and depth to shift your business into new realms of success. Are you recruiting the right people? How much money is going into developing your team? Have you designed jobs in such a way that they stretch and challenge employees? Remember that employees need room to grow and develop. Design your team with capacity as your key driver. When you design with capacity as your key driver you produce innovative teams that produce incredible results.
This article has been edited and condensed.
Jamelle Sanders is the CEO of NC-based Jamelle Sanders International. Jamelle is committed to empowering entrepreneurs and leaders around the world to live up to their true potential and to profit wildly in their businesses. Jamelle is a life coach, business coach, author, leading empowerment specialist and highly respected thought leader. Jamelle is a regular contributor to The Huffington Post and has been featured on NBC, Huff Post Live and contributed to numerous media outlets such as Inspiyr, Young Upstarts, Elite Daily and numerous others. Jamelle has successfully empowered leaders and entrepreneurs around the world to succeed in business and in life. Connect with @JamelleSanders on Twitter.
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