This month, I am rereading the book Who Moved My Cheese? by Dr. Spencer Johnson. It’s all about change in business and how to move with that change. Lase week, I talked about how to know when it’s time to change., and you can go back and read that blog post here.
Hopefully, you can know identify when things need to change, but sometimes, it’s harder to know exactly what needs to change.
The Results Tell the Story but Not the Cause
You know when things are not working, but perhaps you can’t quite put your finger on what it is that’s not working. Maybe you see that your revenues or profits are not where you want or need them. Maybe you realize that your marketing or advertising is not converting. Or maybe you live in a chronic state of uncompleted tasks, no matter how much time you put in. These are your results, but how to know what is the cause?
As I said last week, it is pretty common to see founders/leaders react in one of two ways:
- Grab at a quick solution and hope that turns out to have been the problem
- Refuse to make changes at all, and hope that the problem fixes itself.
Whichever one of these is your “go to”, it only serves to add to your stress, cost you money, waste precious time and impact your bottom line.
Three Things to Do
Here are some steps you can and should take to figure out what needs to change, and to make the required changes:
- Conduct Analysis: Business is a numbers/data game. You want to make decisions based on evidence. Forensic analysis of your marketing analytics and conversion rates/points, sales analysis, financial analysis (that includes profit and loss, burn rate, sales cycles, expenses, and more), and market analysis (trends, competitors, etc.) are all things you need to be analyzing on a regular basis.
- Get Expert Help: There are marketing analysts who know how to read and understand analytics and marketing trends who can be a huge help in getting your marketing strategy on track. Financial experts such as a financial coach, an accountant or a seasoned CFO can help you analyze and sort out your financials. A business strategist (such as myself) can help you figure out where the bleeding is actually happening and work with you on solutions. Yes, it will cost you a couple hundred dollars to engage one of these experts, but they will likely save you at least that amount of money and/or get you unstuck so you can quickly make that money back and more. It is so worth it to stop struggling and start producing and earning. The trick is, though, that you must be coachable. If you don’t take their advice and implement the strategies they suggest, nothing will change.
- Make a Plan: Once you’ve done the analysis and figured out what needs to change, instead of grabbing at quick fixes or just avoiding the issue, sit down and make a plan. Figure out what success looks like, what the changes will cost, where the risks are, how you will address those risks, how you will implement the changes (sometimes it has to be incremental change), and how you will measure success. Make decisions, and then take immediate action. No positive change happens without decisions and action on your part.
One Foot in Front of the Other
This can feel overwhelming when you start out. However, the point of a plan is to get to clarity and have identified, actionable steps that actually reduce that feeling of stress and overwhelm. The decisions and plans you make put you in the driver’s seat. You’ll learn, you’ll grow and you’ll exponentially increase the odds of getting the results you want.
As always, I am available to help you if you are stuck in the “rinse and repeat” cycle and need to figure out what to change. Connect with me here
Stay on Point!