In this short video, Matt from EWA discusses five essential tips for small business owners in today’s challenging business landscape, marked by the “great resignation.” Many business owners find themselves overwhelmed, and these tips are derived from the commonalities seen in highly successful clients who effectively run their businesses, leading to growth and retention.
Tip 1: Implementing a Robust System Matt uses the analogy that “the universe hates open spaces.” Just like rain fills cracks and divots, free time in your business can get filled with employee problems and customer issues. To combat this, having the right system in place, complete with metrics for time allocation and a clear company vision and mission, can guide decision-making. A popular system among successful clients is the Entrepreneurial Operating System outlined in the book “Traction.” It involves setting long-term and short-term visions and breaking them down into quarterly goals, helping you make decisions efficiently and prioritize your time effectively. By doing so, you can prevent unnecessary distractions and focus on your clients, customers, and advancing your business’s mission.
Matt with EWA. Today we are talking about five tips for small business owners. With the great resignation going on, business is becoming more and more difficult to retain good talent. And a lot of clients have given us the feedback that the business is running them versus is them running the business.
So I have narrowed this down to five tips where our most highly successful clients, what they’ve done commonalities they have that they’re running the business very successfully. We see growth, we see retention.
Excited to share these with you today. So tip one is having a good system in place. So I love the analogy. I’ve often heard the universe hates open places. If you think about storm or rain, the rain is going to fill up divots, it’s going to fill up cracks, potholes, and it’s just going to collect there.
So if we use that analogy in a business and you think about those cracks as your time, as soon as you have free time, it’s going to get filled from employees bringing problems, it’s going to get filled from customers bringing issues.
So having the right system in place and making sure you have metrics for how you’re spending your time, what the vision mission of the company is, and then every decision is going to be easy to make based upon those.
So one of the systems that a lot of our successful clients use and we at ewa also use is called the entrepreneurial operating system book called traction. And basically this breaks it down into establishing a ten year vision, a three year vision, a one year vision, and then breaking it down specifically into quarterly rocks that each team member has three rocks per quarter, very similar to goals.
And then also has structure behind weekly meetings with a scorecard. All of these things lead right back up to what needs to get done. Weekly scorecard to quarterly rocks to one year, three year, ten year.
This makes it very easy to make decisions. I’ve often heard that your email is someone else’s agenda for your time. Calls that you don’t recognize, don’t answer. Usually that’s someone else’s agenda for your time.
So having a system and a clear vision in place is very important to help you prioritize how you spend your time. So your time and those cracks, those potholes, don’t get filled up with unnecessary junk.
And you can really focus on your clients, your customers, and really what matters with driving the mission of the business moving forward. You.
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