Your Business Wisdom

The Key to Your Success May Be. . . Failure!

In baseball, get a hit 1/3 of the time and your batting avg. is .333 and you are an All-Star. Succeed 1/3 of the time long enough and you will probably make the Hall of Fame. Heck, if you are a success 40% of the time you will be immortalized! This means you fail 60-65% of the time! 

Golf and tennis, if you win 25% of all the tournaments you entered you will be a super star. This means you lost 75% of the time you competed. All other sports are pretty equal to these type of stats. Success seems to center around 70 to 75%!

Unlike Sports Business is Much More Forgiving,

Get Just One Hit in 100 at Bats and You Could Be in the Hall of Fame...

Starting your own business is quite different, you only need to succeed 1 time.  You can fail, and fail, and fail; time and time again. BUT, if you persist and succeed just once you are an entrepreneurial success! If you failed 99 times and succeed once,  you would be absolute failure in most sports, but you would be a successful business person! If that business continues that course you may financially set yourself up for life. People will ask you about the key to your success, very few owners will admit the key was their failure. Most will talk about their unique idea or product or hard work. Hard work may be truly measured in your ability to pick yourself up after failure and continue your journey.

In business, it doesn’t matter how many times you fail. It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and either should you. All you have to do is learn from them and those around you because…

All that matters in business is that you get it right once. Just get 1 hit in 100 at bats. That 1 hit may place you in the Business Hall of Fame, Henry Ford, Bill Gates, Phil Knight, Jeff Bezos, Sergey Brin/Larry Page, Mark Zuckerberg, and my all time favorite Charlie Bluhdorn- Now go out and get that 1 hit!

Then everyone will tell you how lucky you are!!

 

Consider the S M A R T Way To Goals

Part of your business planning process is writing goals. A goal is a common term that we’re all familiar with but the ability to reach goals in a measurable way is quite a different story.

Goals should be tied to your organization’s strategy or your strategic plan. Goals simply take the organization’s vision and look at where it is going and maps out the steps to get there. When writing goals, use our working model for SMART Goals:

S M A R T Goals

Specific

Measurable

Attainable

Realistic

Timely

 

All Goals MUST answer the following questions:

What, How, Who, When.

Those questions can be answered by creating your goal work sheet and seeing a visual of it.

Example Goal Work Sheet

Goal (what)	Tactical Steps (how)	Responsible Person (who)	Due Date (when)	Status
Reduce office supply costs by 10% by the end of the 4thquarter.	1. perform audit of supply costs; 2. perform audit of supply usage; 3. identify persons or departments with highest supply usage; 4. identify wasteful usage; 5. evaluate supplier agreements; 6. shop suppliers; 7. negotiate supplier rates; 8. create standard supply list and supply utilization controls;	Jack Smith	By December 31st.

One of the most important things with writing goals is the follow-up through completion of goals. A goal document is no more than a mere piece of paper if there is not a person (s) held accountable to achieving those goals. Set your goals and hold people accountable, make them responsible, but also give them the authority to achieve their goals. Without authority they cannot be held responsible, ultimately you are! 

Need Help with setting your goals or simply getting your team started? Contact us today.

Why and How:Your Online Presence Drives Offline Selling

Without question, if you have a brick and motar store you most definitely need an online presence. 

Online search advertising and online sales can be easily quantified, and that's part of what makes Web advertising so powerful compared to its print and broadcast counterparts.

But can online ads lead to sales in the offline, brick & mortar world? Google says yes. The following video gives you insight from Google:

Not sure how to proceed, we can help.

Contact us today and learn how you business can truly benefit from Phoenix ONE's search engine optimization programs.

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