Business Must Haves

Business Must Haves

Business Must Haves 150 150 JP

The most fundamental part of business is generating revenue at a profit so that you can place that back into survival and growth. That said, these are 14 categories that can help, curated from my 20 years of work with business leaders and investors. This is a simple, straightforward set of key focus points for business leaders…

Website
a. responsive (looks good on all devices)
b. relevant to the customer (navigation, info, etc.)
c. provide easy payment / checkout / signup
d. provide data and analytics
e. education on your market / industry / product
f. interaction via blog, chat, social posts, etc.

Social Media
a. sign up for everything (esp. Twitter, FB, Tumblr, Pinterest, etc.)
b. share videos, photos, customer interactions
c. engage with each customer directly
d. provide value via give give give give give give mentality
e. social media is an addition that can help your business
f. get customers to post how good or bad their experiences are, then make it better.

Comps
a. check other businesses in your market (website / store / location)
b. read your local business paper
c. do business with them (if possible)
d. who are the new businesses?

Easy Payments
a. Get all free processors… (square, paypal, stripe, etc.)
b. If necessary, use cheapest for majority of processing
c. give customers the ability to pay anywhere they are
d. give credit terms if possible (e.g. Afterpay)

Playbook
a. research
b. planning / goal setting
c. execution steps
d. adaption tactics
e. per department, sub
f. per different product line

Management SWOT
a. capital allocation
b. hire to fill gaps
c. train to fill gaps

Talent Development
a. on company systems
b. on sales
c. on branding
d. on service
e. on market knowledge
f. on product knowledge
g. on education that helps the employee

Exit Strategy
a. growth and IPO / Merger
b. ownership transition
c. limited engagement to dissolution

Risk Management
a. accountant
b. lawyer
c. lobbyist
d. officials

Systems
a. time management
b. hiring
c. training
d. sales
e. marketing
f. technology
g. operations
h. investing
i. performance measurement

Strategic Audit
a. valuation of the business
b. audit of strategies
c. audit of tactics
d. audit of systems
e. analysis of financials
f. every 12 – 36 months

Core Story
a. educate the buyer with market data
b. build trusted clients / customers
c. solve problems
d. build urgency
e. establish congruency
f. strategically position co.

Benefits Accounts
a. executive wealth management
b. employee 401k, insurance, etc.
c. company ownership programs
d. education and advisement

Initiatives
a. client
b. industry
c. eco
d. social
e. employee
f. brand