Decoding Success: The A-Z Of Business Success

Andrew Wallis      Thursday, November 2, 2017

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Andrew Wallis contends that the trappings of success are as easy as A, B, C...

 

A = ACTION

The only secret to success is taking persistent, massive action. Every high achiever knows this truth. Taking persistent, massive action requires you to get out of your comfort zone and move even when you may not feel like it.

B = BELIEF

The four most important words anyone can ever hear are “I believe in you”. When you mean it and your clients understand how much you believe in them, watch how they start to believe in themselves. And when they believe in themselves, results follow.

C = CASH FLOW

Managing cash flow and making sure your business has enough cash to meet its needs is a must. Many small businesses fail because they fail to manage cash flow and run out of cash to pay the bills. Block time each week to review your cash flow forecasts

 D = DELEGATE

David Allen, the author of “Getting Things Done” once said “You can do anything, but not everything” and this is especially true when running a business. Learn do delegate. If you have a team delegate and support them in their growth. If you work on your own, delegate to a part time admin, trainer or virtual assistant.

 E = Client EXPERIENCE

Knowing what clients want and developing ways to meet those needs is the basis of creating tangible opportunities that exceed their expectations. Look to WOW them right from your first meeting.

 F = FACE YOUR FEARS

Everyone has fears. The only difference between you and the successful people you admire is that they are willing to work through their fears to get where they want to be. Face that fear!

 

 

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G = GOALS

 

First consider what you want to achieve, and then commit to it. Set SMART goals that motivate you and write them down to make them feel tangible. Then plan the steps you must take to realize your goal.

 H = HIRE Slowly, Fire Fast!

When hiring, move candidates through the process as quickly as possible. And when you find a good fit, move quickly and make an offer. Be thorough. Occasionally, you’ll need to let people go to protect your company and your other employees. A bad fit can negatively affect everyone else. Treat those you let go with respect. 

 I = INVEST in yourself (Personal Development)

Investing in yourself may be the most profitable investment you ever make. The surest way to achieve a better quality life, to be successful, productive, and satisfied is to place a priority on investing in both personal and professional growth.

 

J = Enjoy the JOURNEY

If you spend your whole life working, rushing, and trying to get to your dream destination, you will miss the journey of getting there. We create stress and lose sleep over the daily challenges we face and we end up missing the special, beautiful moments that could have and should have been experienced. Life is NOW. Everything you need and want is in THIS moment.


K = KNOW your numbers

To help ensure that your business stays in the black, take the time to familiarize yourself with these five key financial numbers. Cash flow, net income, profit & loss, sales, gross margin.

 

L = LISTEN

LISTEN has the same letters as the word “SILENT…” Silence is your secret coaching tool. Shut your mouth. Bite your tongue. Listen deeply. You’ll rock your client’s world.

 

 

M = MARKETING STRATEGY

Developing a marketing strategy is vital for your business. The focus of your strategy should be making sure that your services meet your client’s needs. The purpose of your marketing strategy should be to identify and then communicate the benefits of your business to your target market.

N = NO

Say NO more often. Because, as Warren Buffett said, “The difference between successful people and really successful people is that really successful people say no to almost everything.”

O = Get OUT in the world (aka Networking)

If you are struggling to generate leads, get out more – meet people, get to know them and see where the conversation leads. Remember, people do business with those people they know, like and trust. The fastest way to generate leads is through referrals from existing clients or from business networks (such as BNI).

P = PROFIT FIRST

Much like when the safety briefing on a plane tells you to put on your oxygen mask first before helping others, you should adopt the same principle with your business. Pay yourself first and in doing so you will be able to transform your business.

 Q = QUALIFY

Audition your clients, don’t let them audition you. Set the bar high. Turn away the 9.9s if you want clients who are 10s. Adopt a new rule of thumb for life: Hell Yeah! or No. Potential clients who are not yet a Hell Yeah! to work with me are not where I choose to invest my energy.

 

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R = REDUCE

Less is more. Author, Dave Trott says, “Stupid people think complicated is clever. But smart people know simple is clever.” If you want more clients, serve more people. If you want more money, create more value. If you want to move people, let yourself be moved. Less. But better.

S = SELL

Don’t be afraid of the “S” word. Historically, the word means “give.” Give people (a ton of) value. And then give them a number. Now you’re selling. The very best way to create a client is NOT to need them. The philosophy I follow is “clients are created, NOT attracted”. Focus your attention on building relationships instead of attracting clients.

T = Build a TEAM

If you want to grow, don’t do it alone. It’s counterintuitive but hire great people BEFORE you can afford them. Hire slowly. (And fire quickly). Encourage your team to make mistakes. Make it your mission to help each one work only in their Zone of Genius.

U = Invest in YOU

Investing in yourself is one of the best return on investments you can have. Whether it’s investing in learning a new skill, developing yourself personally or professionally, tapping into your creativity or hiring a coach, you need to give to yourself first before you can give to others.

V = Find your VOICE

All successful bloggers hated their first 50 articles. And none of them found their voice until they’d written at least 100. If you want to write, start writing. And then put it out in the world. Action, not perfection. If you want to speak, start speaking. Start with an audience of two people.

W = WALK your Talk

Hire your own coach. The biggest gift you can give your clients is to be successful. But don’t try to be perfect. Share your struggles. Being real is hard but deeply attractive. Mahatma Ghandi once said: “Integrity is when what you DO is the same as what you SAY; and when what you SAY is the same as what you THINK.”

X = 10X

Dream bigger. Tim Ferriss says: “It’s lonely at the top. 99% of the world is convinced they are incapable of achieving great things, so they aim for the mediocre middle-ground.If you are insecure, guess what? The rest of the world is too. Do not overestimate the competition and underestimate yourself. You are better than you think.”

Y = Start with WHY!

As Simon Sinek puts it, “People don’t buy what you do. They buy why you do it … The goal is not to do business with people who need what you have. The goal is to do business with people who believe what you believe.”

Z = Zzz’s

Take care of yourself because you’re the most important part of your business. Rest, relax, recharge your batteries, exercise, be in nature, play, eat well and sleep well. Be your own best client.

 

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