For those of you that are considering starting your own business, or in the process, or perhaps are focusing on building your business, here are some great factors to focus on!
To have a strong, vibrant, thriving business, your company is going to need these things:
- Repeat Customers – Customers who pay by subscription, membership, or an ongoing service arrangement.
- Leverage – Business revenue is generated by you AND others. Most importantly, the business doesn’t depend entirely on you to sustain itself.
- Multiple Income Streams – The business generates revenue with more than one product or service.
- Support/Expertise – Either by background or expertise, you don’t have to reinvent the wheel.
- Return on Investment – The business provides an income AND also provides a return on investment.
- Recession Resistant – Regardless of the health of the economy, the business can remain profitable.
(list ideas from Scott Hill, Franchise Consultant)
Have you created a business strategy to focus on each of these topics? Coaching can provide a framework to evaluate and fine tune your plans and propel you toward your goals. Check out my coaching services here. Working on your own doesn’t have to mean going it alone!